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Midland Holdings

DB:MTK
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MTK
DB
HK$1B
Market Cap
  1. Home
  2. DE
  3. Real Estate
Company description

Midland Holdings Limited, an investment holding company, provides property agency services in the People’s Republic of China. The last earnings update was 24 days ago. More info.


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  • Midland Holdings has significant price volatility in the past 3 months.
MTK Share Price and Events
7 Day Returns
-1.8%
DB:MTK
0.5%
DE Real Estate
-0.2%
DE Market
1 Year Returns
-25.8%
DB:MTK
12.4%
DE Real Estate
-10.3%
DE Market
MTK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Midland Holdings (MTK) -1.8% -15.7% -22.2% -25.8% -29.7% -48.4%
DE Real Estate 0.5% 5.3% 3.7% 12.4% 47.8% 138.7%
DE Market -0.2% -2.4% 4% -10.3% 11.2% 10.8%
1 Year Return vs Industry and Market
  • MTK underperformed the Real Estate industry which returned 12.4% over the past year.
  • MTK underperformed the Market in Germany which returned -10.3% over the past year.
Price Volatility
MTK
Industry
5yr Volatility vs Market

MTK Value

 Is Midland Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Midland Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Midland Holdings.

DB:MTK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MTK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 0.99
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.986 (1 + (1- 25%) (23.88%))
1.109
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.109 * 6.65%)
7.6%

Discounted Cash Flow Calculation for DB:MTK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Midland Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:MTK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 7.6%)
2019 237.00 Analyst x1 220.26
2020 255.00 Analyst x1 220.24
2021 274.00 Analyst x1 219.94
2022 287.97 Est @ 5.1% 214.82
2023 298.45 Est @ 3.64% 206.91
2024 306.26 Est @ 2.62% 197.32
2025 312.07 Est @ 1.9% 186.87
2026 316.44 Est @ 1.4% 176.09
2027 319.75 Est @ 1.05% 165.37
2028 322.31 Est @ 0.8% 154.91
Present value of next 10 years cash flows HK$1,962.73
DB:MTK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$322.31 × (1 + 0.23%) ÷ (7.6% – 0.23%)
HK$4,381.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$4,381.18 ÷ (1 + 7.6%)10
HK$2,105.76
DB:MTK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,962.73 + HK$2,105.76
HK$4,068.49
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$4,068.49 / 718.05
HK$5.67
DB:MTK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MTK represents 0.10805x of SEHK:1200
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10805x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 5.67 x 0.10805
€0.61
Value per share (EUR) From above. €0.61
Current discount Discount to share price of €0.16
= -1 x (€0.16 - €0.61) / €0.61
73.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Midland Holdings is available for.
Intrinsic value
>50%
Share price is €0.161 vs Future cash flow value of €0.61224
Current Discount Checks
For Midland Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Midland Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Midland Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Midland Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Midland Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MTK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.08
SEHK:1200 Share Price ** SEHK (2019-05-20) in HKD HK$1.49
Germany Real Estate Industry PE Ratio Median Figure of 32 Publicly-Listed Real Estate Companies 16.04x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Midland Holdings.

DB:MTK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1200 Share Price ÷ EPS (both in HKD)

= 1.49 ÷ 0.08

18.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Midland Holdings is overvalued based on earnings compared to the DE Real Estate industry average.
  • Midland Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Midland Holdings's expected growth come at a high price?
Raw Data
DB:MTK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.4x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
32.6%per year
Germany Real Estate Industry PEG Ratio Median Figure of 19 Publicly-Listed Real Estate Companies 1.05x
Germany Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

DB:MTK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.4x ÷ 32.6%

0.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Midland Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Midland Holdings's assets?
Raw Data
DB:MTK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$2.03
SEHK:1200 Share Price * SEHK (2019-05-20) in HKD HK$1.49
Germany Real Estate Industry PB Ratio Median Figure of 42 Publicly-Listed Real Estate Companies 1.37x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
DB:MTK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1200 Share Price ÷ Book Value per Share (both in HKD)

= 1.49 ÷ 2.03

0.73x

* Primary Listing of Midland Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Midland Holdings is good value based on assets compared to the DE Real Estate industry average.
X
Value checks
We assess Midland Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Midland Holdings has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MTK Future Performance

 How is Midland Holdings expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
32.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Midland Holdings expected to grow at an attractive rate?
  • Midland Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Midland Holdings's earnings growth is expected to exceed the Germany market average.
  • Midland Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MTK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MTK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 32.6%
DB:MTK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.9%
Germany Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -4.8%
Germany Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:MTK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MTK Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 5,338 324 182 2
2020-12-31 5,150 271 140 2
2019-12-31 4,890 218 107 2
DB:MTK Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 5,014 -27 58
2018-09-30 5,168 51 143
2018-06-30 5,320 130 228
2018-03-31 5,307 197 211
2017-12-31 5,298 263 193
2017-09-30 5,523 345 227
2017-06-30 5,749 427 261
2017-03-31 5,412 192 136
2016-12-31 5,076 -44 11
2016-09-30 4,463 -183 -128
2016-06-30 3,850 -322 -266
2016-03-31 3,880 -180 -183

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Midland Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Midland Holdings's revenue is expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:MTK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Midland Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MTK Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.25 0.30 0.20 2.00
2020-12-31 0.20 0.29 0.10 2.00
2019-12-31 0.15 0.28 0.02 2.00
DB:MTK Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.08
2018-09-30 0.20
2018-06-30 0.32
2018-03-31 0.29
2017-12-31 0.27
2017-09-30 0.32
2017-06-30 0.36
2017-03-31 0.19
2016-12-31 0.01
2016-09-30 -0.18
2016-06-30 -0.37
2016-03-31 -0.25

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Midland Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Midland Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Midland Holdings has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MTK Past Performance

  How has Midland Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Midland Holdings's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Midland Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Midland Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Midland Holdings's 1-year earnings growth is negative, it can't be compared to the DE Real Estate industry average.
Earnings and Revenue History
Midland Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Midland Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MTK Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 5,013.64 58.13 4,591.62
2018-09-30 5,168.46 143.16 4,663.59
2018-06-30 5,319.52 228.19 4,797.31
2018-03-31 5,306.82 210.82 4,804.79
2017-12-31 5,297.87 193.45 4,750.51
2017-09-30 5,523.36 227.04 4,946.69
2017-06-30 5,748.84 260.63 5,142.87
2017-03-31 5,412.50 135.59 4,923.92
2016-12-31 5,076.15 10.55 4,704.97
2016-09-30 4,463.01 -127.85 4,250.69
2016-06-30 3,849.88 -266.26 3,796.41
2016-03-31 3,880.06 -182.87 3,734.05
2015-12-31 3,910.23 -99.49 3,671.70
2015-09-30 4,163.83 16.31 3,779.09
2015-06-30 4,417.43 132.11 3,886.48
2015-03-31 4,270.10 98.04 3,769.58
2014-12-31 4,122.77 63.98 3,652.68
2014-09-30 3,808.20 -40.33 3,457.62
2014-06-30 3,493.63 -144.64 3,262.55
2014-03-31 3,420.59 -174.34 3,231.17
2013-12-31 3,347.55 -204.04 3,199.79
2013-09-30 3,543.59 -88.70 3,274.03
2013-06-30 3,739.62 26.65 3,348.27
2013-03-31 3,825.14 138.24 3,312.92
2012-12-31 3,910.67 249.83 3,277.58
2012-09-30 3,630.41 155.06 3,112.42
2012-06-30 3,350.15 60.29 2,947.27

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Midland Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Midland Holdings used its assets less efficiently than the DE Real Estate industry average last year based on Return on Assets.
  • Midland Holdings has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Midland Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Midland Holdings has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MTK Health

 How is Midland Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Midland Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Midland Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Midland Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Midland Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 15.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Midland Holdings Company Filings, last reported 4 months ago.

DB:MTK Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,456.10 255.50 942.29
2018-09-30 1,456.10 255.50 942.29
2018-06-30 1,570.05 291.85 1,147.19
2018-03-31 1,570.05 291.85 1,147.19
2017-12-31 1,361.78 359.90 1,158.65
2017-09-30 1,361.78 359.90 1,158.65
2017-06-30 1,293.75 969.50 1,693.01
2017-03-31 1,293.75 969.50 1,693.01
2016-12-31 1,183.54 355.60 876.49
2016-09-30 1,183.54 355.60 876.49
2016-06-30 1,399.84 430.87 1,421.50
2016-03-31 1,399.84 430.87 1,421.50
2015-12-31 1,530.01 58.19 1,303.07
2015-09-30 1,530.01 58.19 1,303.07
2015-06-30 1,657.15 290.46 1,642.59
2015-03-31 1,657.15 290.46 1,642.59
2014-12-31 1,606.54 426.12 1,764.49
2014-09-30 1,606.54 426.12 1,764.49
2014-06-30 1,496.91 422.58 1,375.78
2014-03-31 1,496.91 422.58 1,375.78
2013-12-31 1,527.55 424.01 1,434.30
2013-09-30 1,527.55 424.01 1,434.30
2013-06-30 1,635.32 10.48 1,081.81
2013-03-31 1,635.32 10.48 1,081.81
2012-12-31 1,794.27 10.93 1,290.12
2012-09-30 1,794.27 10.93 1,290.12
2012-06-30 1,725.69 11.37 1,208.69
  • Midland Holdings's level of debt (17.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (27.8% vs 17.5% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 6x coverage).
X
Financial health checks
We assess Midland Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Midland Holdings has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MTK Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.15%
Current annual income from Midland Holdings dividends. Estimated to be 5.49% next year.
If you bought €2,000 of Midland Holdings shares you are expected to receive €43 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Midland Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.45%).
  • Midland Holdings's dividend is below the markets top 25% of dividend payers in Germany (3.81%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:MTK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Germany Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 25 Stocks 2.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MTK Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.07 2.00
2020-12-31 0.12 3.00
2019-12-31 0.04 2.00
DB:MTK Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.032 1.988
2019-03-28 0.032 1.833
2018-08-29 0.032 1.883
2018-04-27 0.050 2.351
2018-03-28 0.050 2.299
2014-09-24 0.000 0.000
2014-08-26 0.000 0.000
2014-04-29 0.000 0.000
2014-03-28 0.000 0.000
2013-09-11 0.000 0.000
2013-08-23 0.000 0.000
2013-04-11 0.200 6.281
2013-03-15 0.200 5.895
2012-08-24 0.287 7.322
2012-03-16 0.000 0.000
2011-08-25 0.426 10.739
2011-04-11 0.589 12.477
2010-09-08 0.706 10.637
2010-03-18 0.614 8.786
2009-09-16 0.186 2.740

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Midland Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.9x coverage).
X
Income/ dividend checks
We assess Midland Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Midland Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Midland Holdings has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MTK Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Pierre Wong
COMPENSATION HK$16,889,000
AGE 54
TENURE AS CEO 6.5 years
CEO Bio

Mr. Tsz Wa Wong, also known as Pierre, has been Managing Director of Midland Holdings Ltd. since November 23, 2012. Mr. Wong served as the Chief Executive Officer of Midland IC&I limited, a subsidiary of Midland Realty Holdings Ltd. from June 2007 to December 2011. He has over 20 years experience in dealing with non-residential property broking in Hong Kong. He has broad experience in dealing with property broking. He joined Midland Realty Group in September 1993. Mr. Wong served as the Chief Executive Officer of the Industrial, Commercial and Retail Broking Services Division of Midland Holdings Limited since September 2004. Mr. Wong served as Deputy Chairman at Midland IC&I Limited since December 2011 until November 2012. He has been an Executive Director of Midland Holdings Ltd. since November 23, 2012. He had been an Executive Director at Midland IC&I Limited since June 11, 2007. Mr. Wong holds a Bachelor of Law (Honors) degree.

CEO Compensation
  • Pierre's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Pierre's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Midland Holdings management team in years:

6.5
Average Tenure
54
Average Age
  • The average tenure for the Midland Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Freddie Wong

TITLE
Founder & Chairman
COMPENSATION
HK$10M
AGE
69

Pierre Wong

TITLE
MD & Executive Director
COMPENSATION
HK$17M
AGE
54
TENURE
6.5 yrs

Angela Wong

TITLE
Deputy Chairman & MD
COMPENSATION
HK$15M
AGE
37
TENURE
4.4 yrs

Kam Shing Cheung

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
54

Ka Sze

TITLE
Chief Financial Officer

Gordon Tse

TITLE
Senior Director of Corporate Development
AGE
49

Raymond Kwok

TITLE
Co-Chief Executive Officer of the Midland China
COMPENSATION
HK$258K
AGE
54

Fredy Wu

TITLE
CEO & Director of Sales Operation - Hong Kong Property Svcs (agency) Ltd
AGE
57
TENURE
14.6 yrs

Joel Mui

TITLE
Company Secretary
TENURE
6.4 yrs
Board of Directors Tenure

Average tenure and age of the Midland Holdings board of directors in years:

7.3
Average Tenure
54
Average Age
  • The tenure for the Midland Holdings board of directors is about average.
Board of Directors

Freddie Wong

TITLE
Founder & Chairman
COMPENSATION
HK$10M
AGE
69
TENURE
26.3 yrs

Pierre Wong

TITLE
MD & Executive Director
COMPENSATION
HK$17M
AGE
54
TENURE
6.5 yrs

Angela Wong

TITLE
Deputy Chairman & MD
COMPENSATION
HK$15M
AGE
37
TENURE
8.2 yrs

Kam Shing Cheung

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
54
TENURE
8.2 yrs

Raymond Sun

TITLE
Independent Non-Executive Director
COMPENSATION
HK$260K
AGE
54
TENURE
14.7 yrs

Ted Ho

TITLE
Independent Non-Executive Director
COMPENSATION
HK$133K
AGE
53
TENURE
1.9 yrs

San Wong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$260K
AGE
62
TENURE
5.7 yrs

Dennis Wong

TITLE
Non-Executive Director
COMPENSATION
HK$24K
AGE
58
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Midland Holdings insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
22. Mar 19 Sell Wang-Chi Lau Individual 19. Mar 19 19. Mar 19 -6,783,176 €0.22 €-1,522,554
21. Mar 19 Sell Hosking Partners LLP Company 18. Mar 19 18. Mar 19 -13,461,441 €0.22 €-3,025,663
13. Mar 19 Buy Kin Yip Wong Individual 08. Mar 19 08. Mar 19 57,443,680 €0.23 €13,016,763
24. Dec 18 Sell Hosking Partners LLP Company 21. Dec 18 21. Dec 18 -252,000 €0.17 €-44,079
10. Jul 18 Buy Massachusetts Financial Services Company Company 06. Jul 18 06. Jul 18 180,000 €0.23 €41,294
30. May 18 Buy Wang-Chi Lau Individual 28. May 18 28. May 18 30,266,400 €0.24 €7,134,492
X
Management checks
We assess Midland Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Midland Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MTK News

Simply Wall St News

MTK Company Info

Description

Midland Holdings Limited, an investment holding company, provides property agency services in the People’s Republic of China. The company offers residential property agency services; industrial and commercial property agency services; and project planning, commercial property management, and marketing and sales planning services, as well as surveying, leasing, and property management services. It also provides immigration consultancy services; surveying consultancy services that include valuation advisory, development study, sales, marketing, tender, and auction for projects; and mortgage referral services and related information. In addition, the company offers property investment services; and promotes overseas properties in Hong Kong. Midland Holdings Limited was founded in 1973 and is headquartered in Central, Hong Kong.

Details
Name: Midland Holdings Limited
MTK
Exchange: DB
Founded: 1973
HK$122,002,013
718,046,005
Website: http://www.midland.com.hk
Address: Midland Holdings Limited
World-Wide House,
Rooms 2505-8, 25th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1200 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Dec 1995
DB MTK Ordinary Shares Deutsche Boerse AG DE EUR 11. Dec 1995
Number of employees
Current staff
Staff numbers
6,563
Midland Holdings employees.
Industry
Real Estate Services
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 21:03
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/04/22
Last earnings filing: 2019/04/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.