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Courts Asia

BST:2CA
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2CA
BST
SGD105M
Market Cap
  1. Home
  2. DE
  3. Retail
Company description

Courts Asia Limited, an investment holding company, engages in the retail of household furniture, furnishings, home appliances, and information technology products in Singapore, Malaysia, and Indonesia. The last earnings update was 36 days ago. More info.


Add to Portfolio Compare Print
  • Courts Asia has significant price volatility in the past 3 months.
2CA Share Price and Events
7 Day Returns
-0.9%
BST:2CA
2.4%
DE Specialty Retail
1.8%
DE Market
1 Year Returns
-27.1%
BST:2CA
-28.6%
DE Specialty Retail
-8.9%
DE Market
2CA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Courts Asia (2CA) -0.9% 0% 61.5% -27.1% -41% -64.9%
DE Specialty Retail 2.4% 1.7% 12.1% -28.6% -50.6% -53.1%
DE Market 1.8% 3.9% 6.1% -8.9% 9.3% 11.7%
1 Year Return vs Industry and Market
  • 2CA outperformed the Specialty Retail industry which returned -28.6% over the past year.
  • 2CA underperformed the Market in Germany which returned -8.9% over the past year.
Price Volatility
2CA
Industry
5yr Volatility vs Market

2CA Value

 Is Courts Asia 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 Courts Asia 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    Our intrinsic value calculation method has changed recently, learn more here.

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

BST:2CA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.9%
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 BST:2CA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.854 (1 + (1- 17%) (221.7%))
1.956
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.956 * 5.96%)
11.88%

Discounted Cash Flow Calculation for BST:2CA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Courts Asia 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.

BST:2CA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 11.88%)
2019 102.36 Est @ 36.39% 91.49
2020 128.50 Est @ 25.54% 102.65
2021 151.57 Est @ 17.95% 108.22
2022 170.71 Est @ 12.63% 108.94
2023 185.92 Est @ 8.91% 106.04
2024 197.64 Est @ 6.31% 100.76
2025 206.50 Est @ 4.48% 94.09
2026 213.12 Est @ 3.21% 86.79
2027 218.05 Est @ 2.31% 79.37
2028 221.73 Est @ 1.69% 72.13
Present value of next 10 years cash flows SGD950.47
BST:2CA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD221.73 × (1 + 0.23%) ÷ (11.88% – 0.23%)
SGD1,906.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD1,906.57 ÷ (1 + 11.88%)10
SGD620.23
BST:2CA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD950.47 + SGD620.23
SGD1,570.70
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD1,570.70 / 523.35
SGD1.58
BST:2CA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:2CA represents 0.525x of SGX:RE2
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.525x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 3.00 x 0.525
€1.58
Value per share (EUR) From above. €1.58
Current discount Discount to share price of €0.11
= -1 x (€0.11 - €1.58) / €1.58
93.3%

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

Current Discount
Amount off the current price Courts Asia is available for.
Intrinsic value
>50%
Share price is €0.11 vs Future cash flow value of €1.58
Current Discount Checks
For Courts Asia to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Courts Asia's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Courts Asia'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 Courts Asia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Courts Asia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:2CA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SGD SGD-0.02
SGX:RE2 Share Price ** SGX (2019-03-15) in SGD SGD0.2
Germany Specialty Retail Industry PE Ratio Median Figure of 5 Publicly-Listed Specialty Retail Companies 12.38x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 19.52x

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

** Primary Listing of Courts Asia.

BST:2CA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:RE2 Share Price ÷ EPS (both in SGD)

= 0.2 ÷ -0.02

-12.19x

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

  • Courts Asia is loss making, we can't compare its value to the DE Specialty Retail industry average.
  • Courts Asia is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Courts Asia's expected growth come at a high price?
Raw Data
BST:2CA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -12.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
103%per year
Germany Specialty Retail Industry PEG Ratio Median Figure of 5 Publicly-Listed Specialty Retail Companies 1.24x
Germany Market PEG Ratio Median Figure of 275 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Courts Asia, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Courts Asia's assets?
Raw Data
BST:2CA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SGD SGD0.37
SGX:RE2 Share Price * SGX (2019-03-15) in SGD SGD0.2
Germany Specialty Retail Industry PB Ratio Median Figure of 6 Publicly-Listed Specialty Retail Companies 0.61x
Germany Market PB Ratio Median Figure of 569 Publicly-Listed Companies 1.77x
BST:2CA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:RE2 Share Price ÷ Book Value per Share (both in SGD)

= 0.2 ÷ 0.37

0.53x

* Primary Listing of Courts Asia.

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

  • Courts Asia is good value based on assets compared to the DE Specialty Retail industry average.
X
Value checks
We assess Courts Asia'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 Specialty Retail 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 Specialty Retail industry average (and greater than 0)? (1 check)
  5. Courts Asia has a total score of 3/6, 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.

2CA Future Performance

 How is Courts Asia expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
103%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Courts Asia expected to grow at an attractive rate?
  • Courts Asia's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Courts Asia's earnings growth is expected to exceed the Germany market average.
  • Courts Asia's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:2CA Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:2CA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 103%
BST:2CA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 6.8%
Germany Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 13.9%
Germany Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*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
BST:2CA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:2CA Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-03-31 759 19 1
2019-03-31 736 18 1
BST:2CA Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2018-12-31 684 84 -8
2018-09-30 695 78 -5
2018-06-30 706 63 0
2018-03-31 713 59 8
2017-12-31 730 53 15
2017-09-30 729 62 16
2017-06-30 732 56 21
2017-03-31 741 45 24
2016-12-31 723 36 10
2016-09-30 742 19 10
2016-06-30 749 17 10
2016-03-31 752 29 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Courts Asia's earnings are expected to grow significantly at over 20% yearly.
  • Courts Asia's revenue is expected to grow by 6.8% 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
BST:2CA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Courts Asia Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:2CA Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-03-31 0.04 0.04 0.04 1.00
2019-03-31 0.04 0.04 0.04 1.00
BST:2CA Past Financials Data
Date (Data in SGD Millions) EPS *
2018-12-31 -0.02
2018-09-30 -0.01
2018-06-30 0.00
2018-03-31 0.02
2017-12-31 0.03
2017-09-30 0.03
2017-06-30 0.04
2017-03-31 0.05
2016-12-31 0.02
2016-09-30 0.02
2016-06-30 0.02
2016-03-31 0.01

*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.
  • Unable to establish if Courts Asia will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Courts Asia'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.
Courts Asia has a total score of 4/6, 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.

2CA Past Performance

  How has Courts Asia 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 Courts Asia's growth in the last year to its industry (Specialty Retail).
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.
  • Courts Asia does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Courts Asia's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Courts Asia's 1-year growth to the Europe Specialty Retail industry average as it is not currently profitable.
Earnings and Revenue History
Courts Asia'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 Courts Asia Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:2CA Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 683.54 -8.47 217.40
2018-09-30 695.03 -4.79 223.11
2018-06-30 706.37 -0.21 227.14
2018-03-31 713.14 8.05 229.00
2017-12-31 730.36 15.06 225.94
2017-09-30 729.22 16.48 225.11
2017-06-30 731.78 20.95 223.36
2017-03-31 740.54 23.74 221.57
2016-12-31 722.85 10.49 233.64
2016-09-30 741.96 9.60 227.28
2016-06-30 749.08 9.63 225.52
2016-03-31 751.89 6.83 220.87
2015-12-31 781.94 22.65 204.90
2015-09-30 770.11 22.64 206.48
2015-06-30 762.60 18.33 207.22
2015-03-31 758.55 17.36 207.33
2014-12-31 772.60 18.65 206.88
2014-09-30 782.98 20.89 209.08
2014-06-30 827.24 26.35 207.63
2014-03-31 830.26 28.31 200.90
2013-12-31 811.81 33.11 191.45
2013-09-30 804.05 33.01 188.02
2013-06-30 796.92 41.75 189.04
2013-03-31 793.77 41.41 187.99
2012-12-31 788.30 44.41 188.37
2012-09-30 771.44 43.31 184.63
2012-06-30 736.90 36.75 177.26
2012-03-31 724.15 39.39 174.89

*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.
  • It is difficult to establish if Courts Asia has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Courts Asia used its assets less efficiently than the DE Specialty Retail industry average last year based on Return on Assets.
  • It is difficult to establish if Courts Asia improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Courts Asia'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 Specialty Retail 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.
Courts Asia has a total score of 0/6, 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.

2CA Health

 How is Courts Asia'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 Courts Asia's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Courts Asia is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Courts Asia's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Courts Asia'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 1.5x 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 Courts Asia Company Filings, last reported 2 months ago.

BST:2CA Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 193.84 232.06 62.05
2018-09-30 193.14 234.29 66.33
2018-06-30 198.96 284.82 83.59
2018-03-31 230.20 298.31 108.63
2017-12-31 229.23 305.76 76.89
2017-09-30 221.97 306.08 91.12
2017-06-30 227.02 305.81 83.02
2017-03-31 218.53 304.39 98.73
2016-12-31 292.05 309.70 64.57
2016-09-30 291.33 323.08 76.60
2016-06-30 294.93 311.53 61.61
2016-03-31 216.30 372.00 147.51
2015-12-31 281.38 339.02 95.17
2015-09-30 276.10 329.76 106.58
2015-06-30 295.69 346.86 119.19
2015-03-31 296.86 330.04 114.22
2014-12-31 297.26 323.44 99.61
2014-09-30 301.53 317.03 101.08
2014-06-30 304.67 317.56 101.23
2014-03-31 298.79 308.09 114.95
2013-12-31 291.63 309.16 109.59
2013-09-30 291.24 291.18 135.06
2013-06-30 295.69 329.40 184.22
2013-03-31 289.48 224.40 88.99
2012-12-31 275.57 230.20 84.22
2012-09-30 225.86 213.32 46.44
2012-06-30 219.28 202.69 59.17
2012-03-31 219.28 202.69 59.17
  • Courts Asia's level of debt (119.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (106% vs 119.7% today).
  • Debt is well covered by operating cash flow (36.4%, greater than 20% of total debt).
  • Courts Asia is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Courts Asia'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. Courts Asia has a total score of 3/6, 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.

2CA Dividends

 What is Courts Asia'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
0%
Current annual income from Courts Asia dividends. Estimated to be 5.93% next year.
If you bought €2,000 of Courts Asia shares you are expected to receive €0 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?
  • Unable to evaluate Courts Asia's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Courts Asia's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
BST:2CA 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 1 Analyst Estimates (S&P Global) See Below
Europe Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 64 Stocks 3.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 333 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 3.9%

Industry and Market average data is calculated daily.

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

BST:2CA Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2020-03-31 0.01 1.00
2019-03-31 0.01 1.00
BST:2CA Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-02-11 0.000 0.000
2018-11-08 0.000 0.000
2018-08-13 0.000 0.000
2018-07-16 0.000 0.000
2018-07-10 0.000 0.000
2018-05-30 0.000 0.000
2017-08-10 0.013 4.249
2016-05-26 0.013 3.064
2015-05-27 0.013 3.582
2015-02-12 0.000 0.000
2014-11-12 0.000 0.000
2014-05-29 0.015 3.053
2014-02-14 0.015 2.689
2013-11-12 0.015 2.472
2013-05-28 0.010 1.203

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

  • Unable to perform a dividend volatility check as Courts Asia has not reported any payouts.
  • Unable to verify if Courts Asia's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Courts Asia's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Courts Asia has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Courts Asia'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 Courts Asia afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Courts Asia has a total score of 0/6, see the detailed checks below.


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

2CA Management

 What is the CEO of Courts Asia'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
Terry O'Connor
COMPENSATION SGD1,534,000
AGE 50
TENURE AS CEO 7.9 years
CEO Bio

Mr. Terence Donald O'Connor, also known as Terry, has been the Group Chief Executive Officer of Courts Asia Limited since April 2011. Mr. O’Connor serves as the President of the Institute of Advertising Singapore (“IAS”). Mr. O'Connor serves as Chief Executive Officer of Courts Asia Limited at Courts (Singapore) Pte Ltd. He served as Managing Director of Courts (Singapore) Pte Ltd. from 2000 to 2007. At Courts (Singapore) Pte Ltd., from 1993 to 1997 he served as Director (Main Board) Electrical; from 1997 to 1998 he served as a Commercial Director; and from 1998 to 2000 he served as its Deputy Managing Director. He was working for Colorvision PLC for 7 years in various buying positions, with the latest as Director of Buying where he was responsible for buying for the nationwide consumer electronics chain-store. He served as President of the British Chamber of Commerce from 2006 to 2010 and held the role of Honorary Secretary of the Singapore Retailers Association. Mr. O'Connor serves as Honorary Secretary of the Singapore Retailers Association. He has been Non Independent & Non Executive Director of Courts Mammoth Bhd., since August 20, 2007. Mr. O'Connor has been an Executive Director of Courts Asia Limited since January 18, 2010. He serves as a Director of Courts Megastore (Thailand) Limited and Assetrust Pte. Ltd. Mr. O'Connor serves as a Director in public and community services of the Retail Academy of Singapore (TRAS). Mr. Terry served as an Executive Director of Courts (Singapore) Pte Ltd. and Courts (Malaysia) Sdn Bhd. He served as a Director of PT Courts Indonesia Tbk. Mr. O’Connor served as Director of Seraya Energy Pte Ltd. He is a member of the Singapore Institute of Directors. In June 2010, Mr. O’Connor was conferred the title of Officer of the Most Excellent Order of the British Empire by Britain’s Queen Elizabeth II for his work in promoting the business interests of the United Kingdom. He was also awarded the International Management Action Award in September 2010 for his ability in taking management action to achieve sustainable and tangible results for an organization and society and the IAS Lifetime Achievement Award in November 2010 for playing a pivotal role in the Singapore advertising landscape and the global arena through his commitment and contribution over time. Mr. O'Connor holds an MBA in Retailing and Wholesaling from the University of Stirling.

CEO Compensation
  • Terry's compensation has been consistent with company performance over the past year.
  • Terry's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Courts Asia management team in years:

4.5
Average Tenure
52.5
Average Age
  • The tenure for the Courts Asia management team is about average.
Management Team

Terry O'Connor

TITLE
Group CEO & Executive Director
COMPENSATION
SGD2M
AGE
50
TENURE
7.9 yrs

Kim Kee

TITLE
Group CFO & Executive Director
COMPENSATION
SGD1M
AGE
55
TENURE
4.5 yrs

Dominic Wong

TITLE
Group Chief Operating Officer
AGE
45
TENURE
0.4 yrs

Kiran Kaur

TITLE
Group Chief Talent & Customer Service Officer
AGE
53
TENURE
4.5 yrs

Yuen Chan

TITLE
Group Chief Credit Officer
AGE
59
TENURE
4.5 yrs

Tammy Teo

TITLE
Regional Head of Strategy & Communications - Singapore
TENURE
6.2 yrs

Stan Kim

TITLE
Group Chief Innovation Officer
TENURE
0.4 yrs

Dolf Posthumus

TITLE
Country Chief Operating Officer of Malaysia
TENURE
1.1 yrs

Siew Koon Ang

TITLE
Company Secretary

Joe Greenway

TITLE
Country Chief Executive Officer of PT COURTS Retail Indonesia
AGE
52
TENURE
1.8 yrs
Board of Directors Tenure

Average tenure and age of the Courts Asia board of directors in years:

7.8
Average Tenure
52.5
Average Age
  • The tenure for the Courts Asia board of directors is about average.
Board of Directors

Terry O'Connor

TITLE
Group CEO & Executive Director
COMPENSATION
SGD2M
AGE
50
TENURE
9.2 yrs

Kim Kee

TITLE
Group CFO & Executive Director
COMPENSATION
SGD1M
AGE
55
TENURE
9 yrs

Chor Chey

TITLE
Independent Non-Executive Director
COMPENSATION
SGD121K
AGE
68
TENURE
6.5 yrs

Kewee Kho

TITLE
Independent Non-Executive Director
COMPENSATION
SGD114K
AGE
48
TENURE
6.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Courts Asia'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. Courts Asia 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.

2CA News

Simply Wall St News

2CA Company Info

Description

Courts Asia Limited, an investment holding company, engages in the retail of household furniture, furnishings, home appliances, and information technology products in Singapore, Malaysia, and Indonesia. Its stores provide home appliances, such as domestic appliances, refrigeration products, small appliances, and cooling and air care products; TV and entertainment products comprising televisions, home audio/players, portable audios, and TV accessories; computer and mobile products, including laptops, desktops, monitors and projectors, tablets, smart phones, printers, domestic phones, earphones and headphones, and technology essentials; smart tech products, such as camera and gaming products, as well as smart wearables, and toy and home products; furniture products; and bedding and mattress products. The company also offers its products online. It operates approximately 85 stores in various store formats comprising megastores, superstores, and small-format stores. The company was founded in 1974 and is headquartered in Singapore. Courts Asia Limited is a subsidiary of Singapore Retail Group Limited.

Details
Name: Courts Asia Limited
2CA
Exchange: BST
Founded: 1974
SGD68,333,297
523,354,758
Website: http://www.courts.com.sg
Address: Courts Asia Limited
50 Tampines North Drive 2,
Singapore,
528766,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX RE2 Ordinary Shares Singapore Exchange SG SGD 15. Oct 2012
BST 2CA Ordinary Shares Boerse-Stuttgart DE EUR 15. Oct 2012
Number of employees
Current staff
Staff numbers
2,393
Courts Asia employees.
Industry
Homefurnishing Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/17 21:28
End of day share price update: 2019/03/15 00:00
Last estimates confirmation: 2018/11/08
Last earnings filing: 2019/02/09
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


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.