BST:WT4

Stock Analysis Report

Executive Summary

Wing Tai Holdings Limited, an investment holding company, engages in property development, property investment, and retailing businesses in Singapore, Malaysia, Australia, Japan, and the People's Republic of China.

Snowflake

Fundamentals

Adequate balance sheet with reasonable growth potential and pays a dividend.

Share Price & News

How has Wing Tai Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.8%

WT4

1.1%

DE Real Estate

2.4%

DE Market


1 Year Return

8.3%

WT4

0.2%

DE Real Estate

4.9%

DE Market

Return vs Industry: WT4 exceeded the German Real Estate industry which returned 0.2% over the past year.

Return vs Market: WT4 exceeded the German Market which returned 4.9% over the past year.


Shareholder returns

WT4IndustryMarket
7 Day-0.8%1.1%2.4%
30 Day-1.5%4.8%2.3%
90 Day-1.7%3.4%2.7%
1 Year13.0%8.3%2.9%0.2%8.2%4.9%
3 Year34.2%20.6%39.3%28.6%18.3%8.0%
5 Year45.8%24.2%139.9%105.5%44.2%24.6%

Price Volatility Vs. Market

How volatile is Wing Tai Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Wing Tai Holdings undervalued compared to its fair value and its price relative to the market?

39.39x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: WT4 (€1.31) is trading above our estimate of fair value (€0.49)

Significantly Below Fair Value: WT4 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: WT4 is poor value based on its PE Ratio (39.4x) compared to the Real Estate industry average (12.8x).

PE vs Market: WT4 is poor value based on its PE Ratio (39.4x) compared to the German market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate WT4's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: WT4 is good value based on its PB Ratio (0.4x) compared to the DE Real Estate industry average (1.3x).


Next Steps

Future Growth

How is Wing Tai Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

34.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WT4's forecast earnings growth (34.2% per year) is above the savings rate (0.2%).

Earnings vs Market: WT4's earnings (34.2% per year) are forecast to grow faster than the German market (12.8% per year).

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

Revenue vs Market: WT4's revenue (12.6% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: WT4's revenue (12.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: WT4's Return on Equity is forecast to be low in 3 years time (2.5%).


Next Steps

Past Performance

How has Wing Tai Holdings performed over the past 5 years?

-14.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: WT4's earnings have declined by -14.6% per year over the past 5 years.

Accelerating Growth: WT4's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: WT4 had negative earnings growth (-81.8%) over the past year, making it difficult to compare to the Real Estate industry average (5.3%).


Return on Equity

High ROE: WT4's Return on Equity (1.4%) is considered low.


Return on Assets

ROA vs Industry: WT4's Return on Assets is below or equal to the Real Estate industry average last year.


Return on Capital Employed

ROCE Improving: WT4's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Wing Tai Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: WT4's short term assets (SGD1.4B) exceeds its short term liabilities (SGD95.7M)

Long Term Liabilities: WT4's short term assets (1.4B) exceeds its long term liabilities (681.3M)


Debt to Equity History and Analysis

Debt Level: WT4's debt to equity ratio (17.5%) is considered satisfactory

Reducing Debt: WT4's debt to equity ratio has reduced from 42% to 17.5% over the past 5 years.

Debt Coverage: WT4's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: WT4's interest payments on its debt are not well covered by EBIT (0.1x coverage).


Balance Sheet

Inventory Level: WT4 has a low level of unsold assets or inventory.

Debt Coverage by Assets: WT4's debt is covered by short term assets (assets are 2.207070x debt).


Next Steps

Dividend

What is Wing Tai Holdings's current dividend yield, its reliability and sustainability?

2.44%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Wing Tai Holdings before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company2.4%marketbottom25%1.5%markettop25%3.8%industryaverage2.9%forecastin3Years2.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: WT4's dividend (2.44%) is higher than the bottom 25% of dividend payers in the German market (1.46%).

High Dividend: WT4's dividend (2.44%) is low compared to the top 25% of dividend payers in the German market (3.79%).

Stable Dividend: WT4's dividend payments have been volatile in the past 10 years.

Growing Dividend: WT4's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (57.6%), WT4's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: WT4's dividends in 3 years are forecast to be covered by earnings (54.6% payout ratio).


Next Steps

Management

What is the CEO of Wing Tai Holdings's salary, the management and board of directors tenure and is there insider trading?

25.2yrs

Average management tenure


CEO

Wai Keung Cheng (69yo)

34.8yrs

Tenure

0

Mr. Wai Keung Cheng has been the Managing Director of Wing Tai Holdings Limited since 1985. Mr. Cheng served as the Managing Director of Wing Tai Malaysia Berhad since September 20, 1975. He has been Chair ...


Management Age and Tenure

25.2yrs

Average Tenure

68yo

Average Age

Experienced Management: WT4's management team is seasoned and experienced (25.2 years average tenure).


Board Age and Tenure

8.4yrs

Average Tenure

67yo

Average Age

Experienced Board: WT4's board of directors are considered experienced (8.4 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.


Recent Insider Transactions

SellS$155,68409 Sep 19
FMR LLC
EntityCompany
Shares115,400
Max PriceS$1.35

Ownership Breakdown


Management Team

  • Wai Keung Cheng (69yo)

    Chairman & MD

    • Tenure: 34.8yrs
  • Edmund Cheng (67yo)

    Deputy Chairman & Deputy MD

    • Tenure: 35.8yrs
  • James Lee (81yo)

    Senior Advisor

    • Tenure: 1.8yrs
  • Hwee Bin Tan (56yo)

    Executive Director

    • Tenure: 10.8yrs
  • Gabrielle Tan

    Company Secretary

    • Tenure: 0yrs
  • Karine Lim

    Group Chief Human Resource Officer

    • Tenure: 15.6yrs
  • Kim Huat Ng

    Chief Financial Officer

    • Tenure: 0yrs

Board Members

  • Tak Hap Boey (67yo)

    Independent Non-Executive Director

    • Tenure: 22.4yrs
  • Paul Tong (72yo)

    Lead Independent Director

    • Tenure: 4.8yrs
  • Wai Keung Cheng (69yo)

    Chairman & MD

    • Tenure: 34.8yrs
  • Edmund Cheng (67yo)

    Deputy Chairman & Deputy MD

    • Tenure: 35.8yrs
  • Man Tak Cheng (59yo)

    Non-Executive Director

    • Tenure: 38.4yrs
  • Hwee Bin Tan (56yo)

    Executive Director

    • Tenure: 10.8yrs
  • Guy Daniel Harvey-Samuel (62yo)

    Independent Non-Executive Director

    • Tenure: 1.8yrs
  • Christopher Lau (71yo)

    Independent Non-Executive Director

    • Tenure: 6yrs
  • Zulkurnain Bin Hj. Awang (69yo)

    Independent Non-Executive Director

    • Tenure: 1.8yrs
  • Mildred Tan Sim (61yo)

    Independent Non-Executive Director

    • Tenure: 0.8yrs

Company Information

Wing Tai Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Wing Tai Holdings Limited
  • Ticker: WT4
  • Exchange: BST
  • Founded: 1955
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: S$1.577b
  • Listing Market Cap: S$1.039b
  • Shares outstanding: 769.06m
  • Website: https://www.wingtaiasia.com.sg

Location

  • Wing Tai Holdings Limited
  • No. 10-01 Winsland House I
  • 3 Killiney Road
  • Singapore
  • 239519
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
W05SGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1992
WT4BST (Boerse-Stuttgart)YesOrdinary SharesDEEURJan 1992

Biography

Wing Tai Holdings Limited, an investment holding company, engages in property development, property investment, and retailing businesses in Singapore, Malaysia, Australia, Japan, and the People's Republic  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 21:16
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.