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Stock Analysis Report

Phoenix Media Investment (Holdings)

Executive Summary

Phoenix Media Investment (Holdings) Limited, an investment holding company, provides satellite television broadcasting services in the People’s Republic of China and internationally.

Snowflake

Fundamentals

Adequate balance sheet with moderate growth potential.

Share Price & News

How has Phoenix Media Investment (Holdings)'s share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

4PM

0.5%

DE Media

1.4%

DE Market


1 Year Return

20.3%

4PM

-7.6%

DE Media

3.7%

DE Market

Return vs Industry: 4PM exceeded the German Media industry which returned -7.6% over the past year.

Return vs Market: 4PM exceeded the German Market which returned 3.7% over the past year.


Shareholder returns

4PMIndustryMarket
7 Day0%0.5%1.4%
30 Day0%-2.0%1.3%
90 Day2.8%1.0%3.4%
1 Year22.3%20.3%-3.4%-7.6%7.0%3.7%
3 Yearn/a-8.0%-19.1%18.5%8.3%
5 Yearn/a8.5%-13.7%42.2%22.9%

Price Volatility Vs. Market

How volatile is Phoenix Media Investment (Holdings)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Phoenix Media Investment (Holdings) undervalued compared to its fair value and its price relative to the market?

61.42x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: 4PM (€0.07) is trading above our estimate of fair value (€0.02)

Significantly Undervalued: 4PM is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 4PM is poor value based on its PE Ratio (61.4x) compared to the Media industry average (24.6x).

PE vs Market: 4PM is poor value based on its PE Ratio (61.4x) compared to the German market (19.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate 4PM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 4PM is good value based on its PB Ratio (0.6x) compared to the DE Media industry average (3.2x).


Next Steps

Future Growth

How is Phoenix Media Investment (Holdings) forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

34.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 4PM's forecast earnings growth (34.7% per year) is above the savings rate (0.2%).

Earnings vs Market: 4PM's earnings (34.7% per year) are forecast to grow faster than the German market (12.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if 4PM's revenue is forecast to grow faster than the German market.

High Growth Revenue: Insufficient data to determine if 4PM's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if 4PM's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Phoenix Media Investment (Holdings) performed over the past 5 years?

-29.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 4PM's earnings have declined by -29% per year over the past 5 years.

Accelerating Growth: 4PM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 4PM had negative earnings growth (-75.2%) over the past year, making it difficult to compare to the Media industry average (-0.7%).


Return on Equity

High ROE: 4PM's Return on Equity (4.6%) is considered low.


Return on Assets

ROA vs Industry: 4PM's Return on Assets is below or equal to the Media industry average last year.


Return on Capital Employed

ROCE Improving: 4PM is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Phoenix Media Investment (Holdings)'s financial position?


Financial Position Analysis

Short Term Liabilities: 4PM's short term assets (HK$8.0B) exceeds its short term liabilities (HK$3.4B)

Long Term Liabilities: 4PM's short term assets (8.0B) exceeds its long term liabilities (1.2B)


Debt to Equity History and Analysis

Debt Level: 4PM's debt to equity ratio (9.7%) is considered satisfactory

Reducing Debt: 4PM's debt to equity ratio has reduced from 16.2% to 9.7% over the past 5 years.

Debt Coverage: 4PM's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if 4PM's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: 4PM has a low level of unsold assets or inventory.

Debt Coverage by Assets: 4PM's debt is covered by short term assets (assets are 11.271190x debt).


Next Steps

Dividend

What is Phoenix Media Investment (Holdings)'s current dividend yield, its reliability and sustainability?

1.61%

Current Dividend Yield


Dividend Yield vs Market

company1.6%marketbottom25%1.5%markettop25%3.8%industryaverage5.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 4PM's dividend (1.61%) is higher than the bottom 25% of dividend payers in the German market (1.47%).

High Dividend: 4PM's dividend (1.61%) is low compared to the top 25% of dividend payers in the German market (3.83%).

Stable Dividend: 4PM's dividend payments have been volatile in the past 10 years.

Growing Dividend: 4PM's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (99.1%), 4PM's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Phoenix Media Investment (Holdings)'s salary, the management and board of directors tenure and is there insider trading?

5.7yrs

Average management tenure


CEO

Changle Liu (68yo)

19.7yrs

Tenure

HK$9,446,000

Compensation

Mr. Changle Liu, J.P. is the Founder of Phoenix Satellite Television Holdings Ltd., and has been its Executive Chairman and Chief Executive Officer since February 2, 2000. Mr. Liu serves as the Chief Execu ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Changle's total compensation is reasonable compared to companies of similar size in the German market.

Compensation vs Earnings: Changle's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.7yrs

Average Tenure

62yo

Average Age

Experienced Management: 4PM's management team is seasoned and experienced (5.7 years average tenure).


Board Age and Tenure

12.9yrs

Average Tenure

68yo

Average Age

Experienced Board: 4PM's board of directors are seasoned and experienced ( 12.9 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Changle Liu (68yo)

    Founder

    • Tenure: 19.7yrs
    • Compensation: HK$9.45m
  • Keung Chui (68yo)

    Deputy CEO

    • Tenure: 19.3yrs
    • Compensation: HK$4.89m
  • Ka Keung Yeung (60yo)

    Executive VP

    • Tenure: 0yrs
  • Ji Yan Wang (70yo)

    Executive VP & Executive Director

    • Tenure: 13.1yrs
    • Compensation: HK$3.16m
  • Daguang He (62yo)

    Executive Vice President

    • Tenure: 4yrs
  • Ya Li (49yo)

    President

    • Tenure: 0yrs
  • Shuang Liu (50yo)

    Chief Operating Officer

    • Tenure: 5.7yrs

Board Members

  • Thaddeus Thomas Beczak (68yo)

    Independent Non-Executive Director

    • Tenure: 14.6yrs
    • Compensation: HK$250.00k
  • Hok Lim Leung (84yo)

    Independent Non-Executive Director

    • Tenure: 14.8yrs
    • Compensation: HK$250.00k
  • Changle Liu (68yo)

    Founder

    • Tenure: 19.7yrs
    • Compensation: HK$9.45m
  • Keung Chui (68yo)

    Deputy CEO

    • Tenure: 19.3yrs
    • Compensation: HK$4.89m
  • Ji Yan Wang (70yo)

    Executive VP & Executive Director

    • Tenure: 13.1yrs
    • Compensation: HK$3.16m
  • Jianzhong Gong (57yo)

    Non-Executive Director

    • Tenure: 12.8yrs
  • Di He (72yo)

    Independent Non-Executive Director

    • Tenure: 3.2yrs
    • Compensation: HK$250.00k
  • Fenglei Fang (67yo)

    Independent Non-Executive Director

    • Tenure: 6.6yrs
    • Compensation: HK$250.00k
  • Qin Jian (52yo)

    Non-Executive Director

    • Tenure: 0.9yrs
  • Dong Zhang (50yo)

    Non Executive Director

    • Tenure: 0.3yrs

Company Information

Phoenix Media Investment (Holdings) Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Phoenix Media Investment (Holdings) Limited
  • Ticker: 4PM
  • Exchange: BST
  • Founded: 1996
  • Industry: Broadcasting
  • Sector: Media
  • Market Cap: HK$3.096b
  • Listing Market Cap: HK$354.397m
  • Shares outstanding: 4.99b
  • Website: https://www.ifeng.com

Number of Employees


Location

  • Phoenix Media Investment (Holdings) Limited
  • No. 2-6 Dai King Street
  • Tai Po Industrial Estate
  • Tai Po
  • New Territories
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PXST.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2000
2008SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJun 2000
4PMBST (Boerse-Stuttgart)YesOrdinary SharesDEEURJun 2000

Biography

Phoenix Media Investment (Holdings) Limited, an investment holding company, provides satellite television broadcasting services in the People’s Republic of China and internationally. The company operates i ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 21:18
End of Day Share Price2019/07/25 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.