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Yangtze Optical Fibre And Cable Limited

DB:1YO
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1YO
DB
HK$31B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

Yangtze Optical Fibre And Cable Joint Stock Limited Company manufactures and sells optical fiber and cable products in the People’s Republic of China and internationally. The last earnings update was 29 days ago. More info.


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  • Yangtze Optical Fibre And Cable Limited has significant price volatility in the past 3 months.
1YO Share Price and Events
7 Day Returns
3.7%
DB:1YO
-8.4%
DE Communications
1.8%
DE Market
1 Year Returns
-26.2%
DB:1YO
17.9%
DE Communications
-6%
DE Market
1YO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yangtze Optical Fibre And Cable Limited (1YO) 3.7% 6.7% 0.9% -26.2% 125.6% -
DE Communications -8.4% -3.9% 23.5% 17.9% 0.2% 53.1%
DE Market 1.8% 4.2% 7.4% -6% 10.1% 15.4%
1 Year Return vs Industry and Market
  • 1YO underperformed the Communications industry which returned 17.9% over the past year.
  • 1YO underperformed the Market in Germany which returned -6% over the past year.
Price Volatility
1YO
Industry
5yr Volatility vs Market

Value

 Is Yangtze Optical Fibre And Cable Limited 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 Yangtze Optical Fibre And Cable Limited 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 Yangtze Optical Fibre And Cable Limited.

DB:1YO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
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:1YO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.09
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.09 (1 + (1- 25%) (5.18%))
1.089
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.089 * 5.96%)
6.72%

Discounted Cash Flow Calculation for DB:1YO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Yangtze Optical Fibre And Cable Limited 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:1YO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 6.72%)
2019 671.67 Analyst x3 629.39
2020 -166.25 Analyst x4 -145.98
2021 1,707.67 Analyst x3 1,405.06
2022 287.00 Analyst x1 221.28
2023 659.00 Analyst x1 476.11
2024 728.54 Est @ 10.55% 493.21
2025 782.84 Est @ 7.45% 496.62
2026 824.23 Est @ 5.29% 489.96
2027 855.30 Est @ 3.77% 476.43
2028 878.45 Est @ 2.71% 458.52
Present value of next 10 years cash flows CN¥5,000.60
DB:1YO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥878.45 × (1 + 0.23%) ÷ (6.72% – 0.23%)
CN¥13,567.23
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥13,567.23 ÷ (1 + 6.72%)10
CN¥7,081.64
DB:1YO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥5,000.60 + CN¥7,081.64
CN¥12,082.24
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥12,082.24 / 757.91
CN¥142.89
DB:1YO Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:6869)
1.169
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥15.94 x 1.169
HK$18.64
Non-primary Listing Adjustment Factor 1 share in DB:1YO represents 0.11157x of SEHK:6869
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11157x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 18.64 x 0.11157
€2.08
Value per share (EUR) From above. €2.08
Current discount Discount to share price of €2.42
= -1 x (€2.42 - €2.08) / €2.08
-16.4%

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

  • The current share price of Yangtze Optical Fibre And Cable Limited is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Yangtze Optical Fibre And Cable Limited's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yangtze Optical Fibre And Cable Limited's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1YO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥2.09
SEHK:6869 Share Price ** SEHK (2019-04-18) in HKD HK$21.7
SEHK:6869 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥18.56
Germany Communications Industry PE Ratio Median Figure of 5 Publicly-Listed Communications Companies 27.71x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.59x

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

** Primary Listing of Yangtze Optical Fibre And Cable Limited.

DB:1YO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:6869 Share Price ÷ EPS (both in CNY)

= 18.56 ÷ 2.09

8.88x

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

  • Yangtze Optical Fibre And Cable Limited is good value based on earnings compared to the DE Communications industry average.
  • Yangtze Optical Fibre And Cable Limited is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Yangtze Optical Fibre And Cable Limited's expected growth come at a high price?
Raw Data
DB:1YO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
-13%per year
Europe Communications Industry PEG Ratio Median Figure of 13 Publicly-Listed Communications Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

DB:1YO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.88x ÷ -13%

-0.68x

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

  • Yangtze Optical Fibre And Cable Limited earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Yangtze Optical Fibre And Cable Limited's assets?
Raw Data
DB:1YO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥10.80
SEHK:6869 Share Price * SEHK (2019-04-18) in HKD HK$21.7
SEHK:6869 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥18.56
Germany Communications Industry PB Ratio Median Figure of 7 Publicly-Listed Communications Companies 1.53x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.84x
DB:1YO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:6869 Share Price ÷ Book Value per Share (both in CNY)

= 18.56 ÷ 10.80

1.72x

* Primary Listing of Yangtze Optical Fibre And Cable Limited.

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

  • Yangtze Optical Fibre And Cable Limited is overvalued based on assets compared to the DE Communications industry average.
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Value checks
We assess Yangtze Optical Fibre And Cable Limited'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 Communications 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 Communications industry average (and greater than 0)? (1 check)
  5. Yangtze Optical Fibre And Cable Limited has a total score of 2/6, 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.

Future Performance

 How is Yangtze Optical Fibre And Cable Limited expected to perform in the next 1 to 3 years based on estimates from 12 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
-13%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yangtze Optical Fibre And Cable Limited expected to grow at an attractive rate?
  • Yangtze Optical Fibre And Cable Limited's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Yangtze Optical Fibre And Cable Limited's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Yangtze Optical Fibre And Cable Limited's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1YO Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1YO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts -13%
DB:1YO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts -2.4%
Germany Communications Industry Earnings Growth Rate Market Cap Weighted Average 19.3%
Europe Communications Industry Revenue Growth Rate Market Cap Weighted Average 2.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:1YO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1YO Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 10,341 924 1,177 1
2022-12-31 8,723 553 545 1
2021-12-31 9,825 2,310 817 7
2020-12-31 10,823 1,425 1,260 12
2019-12-31 9,033 2,266 819 10
DB:1YO Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 11,360 565 1,489
2018-09-30 11,486 1,083 1,575
2018-06-30 11,353 1,191 1,517
2018-03-31 11,009 1,689 1,419
2017-12-31 10,366 1,738 1,268
2017-09-30 9,622 1,228 1,111
2017-06-30 9,079 1,624 923
2017-03-31 8,095 1,161 761
2016-12-31 8,111 1,307 717
2016-09-30 7,735 1,049 669
2016-06-30 7,359 791 621
2016-03-31 7,045 671 596

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Yangtze Optical Fibre And Cable Limited's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Yangtze Optical Fibre And Cable Limited's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:1YO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Yangtze Optical Fibre And Cable Limited Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1YO Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.55 1.55 1.55 1.00
2022-12-31 0.72 0.72 0.72 1.00
2021-12-31 1.33 1.93 0.43 7.00
2020-12-31 1.80 3.59 0.99 10.00
2019-12-31 1.32 2.24 0.80 5.00
DB:1YO Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 2.09
2018-09-30 2.26
2018-06-30 2.22
2018-03-31 2.09
2017-12-31 1.86
2017-09-30 1.63
2017-06-30 1.35
2017-03-31 1.11
2016-12-31 1.05
2016-09-30 0.99
2016-06-30 0.94
2016-03-31 0.91

*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.
  • Yangtze Optical Fibre And Cable Limited is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Yangtze Optical Fibre And Cable Limited'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 Europe 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.
Yangtze Optical Fibre And Cable Limited has a total score of 0/6, 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.

Past Performance

  How has Yangtze Optical Fibre And Cable Limited 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 Yangtze Optical Fibre And Cable Limited's growth in the last year to its industry (Communications).
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.
  • Yangtze Optical Fibre And Cable Limited has delivered over 20% year on year earnings growth in the past 5 years.
  • Yangtze Optical Fibre And Cable Limited's 1-year earnings growth is less than its 5-year average (17.4% vs 30.1%)
  • Yangtze Optical Fibre And Cable Limited's earnings growth has not exceeded the Europe Communications industry average in the past year (17.4% vs 23.7%).
Earnings and Revenue History
Yangtze Optical Fibre And Cable Limited'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 Yangtze Optical Fibre And Cable Limited Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1YO Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 11,359.76 1,489.19 1,034.58 516.76
2018-09-30 11,485.66 1,575.38 1,378.99 54.22
2018-06-30 11,352.70 1,516.51 1,339.13 13.23
2018-03-31 11,008.53 1,419.23 1,266.36
2017-12-31 10,366.08 1,268.35 841.74 402.80
2017-09-30 9,621.84 1,111.41 863.38 241.74
2017-06-30 9,079.13 923.10 851.66 156.73
2017-03-31 8,095.49 761.03 894.96
2016-12-31 8,111.50 717.09 836.77
2016-09-30 7,735.34 668.80 819.85
2016-06-30 7,359.18 620.50 802.93
2016-03-31 7,045.15 595.61 758.69
2015-12-31 6,731.11 570.72 714.45
2015-09-30 6,411.30 565.60 657.51
2015-06-30 6,091.49 560.48 600.58
2015-03-31 5,884.14 513.41 583.01
2014-12-31 5,676.78 466.34 565.44
2014-09-30 5,571.03 442.17 579.03
2014-06-30 5,465.27 417.99 592.61
2014-03-31 5,145.58 416.52 570.61
2013-12-31 4,825.90 415.04 548.62
2012-12-31 4,777.82 364.79 503.92

*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.
  • Yangtze Optical Fibre And Cable Limited has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yangtze Optical Fibre And Cable Limited used its assets more efficiently than the DE Communications industry average last year based on Return on Assets.
  • Yangtze Optical Fibre And Cable Limited has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Yangtze Optical Fibre And Cable Limited'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 Communications 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.
Yangtze Optical Fibre And Cable Limited has a total score of 3/6, 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.

Health

 How is Yangtze Optical Fibre And Cable Limited'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 Yangtze Optical Fibre And Cable Limited's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Yangtze Optical Fibre And Cable Limited is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Yangtze Optical Fibre And Cable Limited's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Yangtze Optical Fibre And Cable Limited'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5.5x 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 Yangtze Optical Fibre And Cable Limited Company Filings, last reported 3 months ago.

DB:1YO Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 8,376.33 1,357.27 2,722.13
2018-09-30 8,506.74 1,410.83 2,992.54
2018-06-30 6,193.50 1,473.51 1,223.52
2018-03-31 5,792.87 1,033.75 1,491.72
2017-12-31 5,485.83 978.30 1,806.30
2017-09-30
2017-06-30 4,826.69 1,713.81 1,839.86
2017-03-31 4,423.55 1,756.45 1,676.38
2016-12-31 4,423.55 1,756.45 1,676.38
2016-09-30 4,423.55 1,756.45 1,676.38
2016-06-30 4,001.22 2,572.51 2,043.39
2016-03-31 4,001.22 2,572.51 2,043.39
2015-12-31 3,731.68 2,457.43 2,053.99
2015-09-30 3,731.68 2,457.43 2,053.99
2015-06-30 3,145.53 2,555.60 1,541.74
2015-03-31 3,145.53 2,555.60 1,541.74
2014-12-31 2,911.49 2,484.11 2,024.77
2014-09-30 2,911.49 2,484.11 2,024.77
2014-06-30 1,754.09 2,151.50 527.82
2014-03-31 1,754.09 2,151.50 527.82
2013-12-31 1,509.65 1,622.12 912.32
2012-12-31 1,751.20 1,052.26 305.99
  • Yangtze Optical Fibre And Cable Limited's level of debt (16.2%) 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 (107.6% vs 16.2% today).
  • Debt is well covered by operating cash flow (41.7%, greater than 20% of total debt).
  • Yangtze Optical Fibre And Cable Limited earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Yangtze Optical Fibre And Cable Limited'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. Yangtze Optical Fibre And Cable Limited has a total score of 6/6, 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.

Dividends

 What is Yangtze Optical Fibre And Cable Limited'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
2.69%
Current annual income from Yangtze Optical Fibre And Cable Limited dividends. Estimated to be 2.81% next year.
If you bought €2,000 of Yangtze Optical Fibre And Cable Limited shares you are expected to receive €54 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?
  • Yangtze Optical Fibre And Cable Limited's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Yangtze Optical Fibre And Cable Limited's dividend is below the markets top 25% of dividend payers in Germany (3.72%).
Upcoming dividend payment

Purchase Yangtze Optical Fibre And Cable Limited before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:1YO 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 12 Analyst Estimates (S&P Global) See Below
Europe Communications Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:1YO Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.43 1.00
2022-12-31 1.12 1.00
2021-12-31 0.52 5.00
2020-12-31 0.51 10.00
2019-12-31 0.25 5.00
DB:1YO Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-22 0.500 2.749
2018-10-26 1.000 5.080
2018-08-27 1.000 4.815
2018-08-24 1.000 4.240
2018-07-18 0.000 0.000
2018-07-03 0.000 0.000
2018-04-30 0.000 0.000
2017-05-22 0.255 1.199
2016-06-07 0.174 1.510
2015-06-09 0.166 2.316

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

  • Yangtze Optical Fibre And Cable Limited has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Yangtze Optical Fibre And Cable Limited only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Yangtze Optical Fibre And Cable Limited's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Yangtze Optical Fibre And Cable Limited'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 Yangtze Optical Fibre And Cable Limited afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yangtze Optical Fibre And Cable Limited 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.

Management

 What is the CEO of Yangtze Optical Fibre And Cable Limited'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
Dan Zhuang
COMPENSATION CN¥6,017,515
AGE 48
TENURE AS CEO 7.6 years
CEO Bio

Mr. Zhuang Dan has been the President of Yangtze Optical Fibre And Cable Joint Stock Limited Company since September 2011. Mr. Dan served as Chief Financial Officer of Yangtze Optical Fibre and Cable Co., Ltd. He has been an Executive Director of Yangtze Optical Fibre And Cable Joint Stock Limited Company since January 24, 2017. He obtained a bachelor's degree in auditing from Wuhan University in July 1992, a master's degree in accounting from Wuhan University in June 1995, a doctorate in accounting from Zhongnan University of Finance and Economics in June 1998 and a postdoctoral certificate in business administration from Shanghai University of Finance and Economics in April 2001.

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

Average tenure and age of the Yangtze Optical Fibre And Cable Limited management team in years:

6.2
Average Tenure
52
Average Age
  • The average tenure for the Yangtze Optical Fibre And Cable Limited management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dan Zhuang

TITLE
President & Executive Director
COMPENSATION
CN¥6M
AGE
48
TENURE
7.6 yrs

Frank Dorjee

TITLE
Vice Chairman
COMPENSATION
CN¥466K
AGE
58

Paul Liang

TITLE
CFO & GM of the Financial Center
AGE
38

Changkun Yan

TITLE
VP & GM of the Operation
AGE
55

Jie Luo

TITLE
CTO, GM of R&D center and Director of State Key Laboratory
AGE
52
TENURE
9.2 yrs

Zhikang Jiang

TITLE
Chief Marketing & Strategic Officer and GM of the Manufacturing Center
COMPENSATION
CN¥1M
AGE
56

Xin Zheng

TITLE
Chief Sales Officer & GM of the Sales Center
AGE
49
TENURE
2.3 yrs

Rongrong Zhou

TITLE
Human Resources Director

Patsy Cheng

TITLE
Company Secretary
AGE
60
TENURE
4.8 yrs

Lijing Zhou

TITLE
VP & Secretary
AGE
45
Board of Directors Tenure

Average tenure and age of the Yangtze Optical Fibre And Cable Limited board of directors in years:

4.6
Average Tenure
55
Average Age
  • The tenure for the Yangtze Optical Fibre And Cable Limited board of directors is about average.
Board of Directors

Jie Ma

TITLE
Chairman of the Board
COMPENSATION
CN¥466K
AGE
47
TENURE
2.3 yrs

Dan Zhuang

TITLE
President & Executive Director
COMPENSATION
CN¥6M
AGE
48
TENURE
2.3 yrs

Frank Dorjee

TITLE
Vice Chairman
COMPENSATION
CN¥466K
AGE
58

Philippe Vanhille

TITLE
Vice Chairman
COMPENSATION
CN¥466K
AGE
54
TENURE
2.3 yrs

Maurice Ngai

TITLE
Independent Non Executive Director
COMPENSATION
CN¥466K
AGE
56
TENURE
4.6 yrs

Ping Li

TITLE
Independent Non Executive Director
COMPENSATION
CN¥466K
AGE
64
TENURE
4.6 yrs

Wang Ruichun

TITLE
Chairman of the Board of Supervisors
AGE
42
TENURE
2.3 yrs

Huili Zheng

TITLE
Non Executive Director
COMPENSATION
CN¥466K
AGE
59
TENURE
5.3 yrs

Xiangfeng Xiong

TITLE
Non Executive Director
COMPENSATION
CN¥466K
AGE
54
TENURE
5.3 yrs

Simon Ip

TITLE
Independent Non Executive Director
COMPENSATION
CN¥466K
AGE
69
TENURE
4.6 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 (€)
06. Apr 19 Sell Capital Research and Management Company Company 04. Apr 19 04. Apr 19 -2,855,000 €2.43 €-6,938,826
26. Dec 18 Sell Frank Dorjee Individual 21. Dec 18 21. Dec 18 -120,000 €2.32 €-277,896
26. Oct 18 Buy Capital Research and Management Company Company 24. Oct 18 24. Oct 18 150,000 €2.34 €351,536
X
Management checks
We assess Yangtze Optical Fibre And Cable Limited'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. Yangtze Optical Fibre And Cable Limited 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.

News

Simply Wall St News

Company Info

Description

Yangtze Optical Fibre And Cable Joint Stock Limited Company manufactures and sells optical fiber and cable products in the People’s Republic of China and internationally. The company operates through Optical Fibres and Optical Fibre Preforms, and Optical Fibre Cables segments. It offers optical fiber preforms, optical fibers, and optical fiber cables; and specialty optical fibers and cables, including specialty integration systems, as well as trades in raw materials. The company also provides adapter panels, optical distribution frames, plug-and-play modules, trunk cables, splitters, ribbon/bundle pigtails, jumpers, and terminal boxes, as well as optical fiber connectors, adapters, and attenuators. In addition, it offers communications and management solutions software. The company serves telecommunications, utilities, transportation, petrochemical, and healthcare industries. Yangtze Optical Fibre And Cable Joint Stock Limited Company was founded in 1988 and is headquartered in Wuhan, the People’s Republic of China.

Details
Name: Yangtze Optical Fibre And Cable Joint Stock Limited Company
1YO
Exchange: DB
Founded: 1988
HK$3,470,502,910
757,905,108
Website: http://www.yofc.com
Address: Yangtze Optical Fibre And Cable Joint Stock Limited Company
No. 9 Guanggu Avenue,
East Lake High-tech Development Zone,
Wuhan,
Hubei Province, 430073,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 6869 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 10. Dec 2014
OTCPK YZOF.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 10. Dec 2014
DB 1YO Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 10. Dec 2014
SHSC 6869 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 10. Dec 2014
SZSC 6869 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 10. Dec 2014
SHSE 601869 Domestic Shares Shanghai Stock Exchange CN CNY 20. Jul 2018
XSSC 601869 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 20. Jul 2018
Number of employees
Current staff
Staff numbers
3,108
Yangtze Optical Fibre And Cable Limited employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 21:48
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/08
Last earnings filing: 2019/03/22
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.