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Kingboard Holdings

DB:KGZ
Snowflake Description

Established dividend payer and good value.

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

Kingboard Holdings Limited, an investment holding company, manufactures and sells laminates and printed circuit boards. The last earnings update was 6 days ago. More info.


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KGZ Share Price and Events
7 Day Returns
-0.8%
DB:KGZ
1.6%
DE Electronic
1.8%
DE Market
1 Year Returns
-9.6%
DB:KGZ
-0.2%
DE Electronic
-6%
DE Market
KGZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kingboard Holdings (KGZ) -0.8% 0.5% 8.6% -9.6% 87.4% 123.3%
DE Electronic 1.6% 8.1% 19.2% -0.2% 98.5% 105%
DE Market 1.8% 6% 7.8% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • KGZ underperformed the Electronic industry which returned -0.2% over the past year.
  • KGZ underperformed the Market in Germany which returned -6% over the past year.
Price Volatility
KGZ
Industry
5yr Volatility vs Market

KGZ Value

 Is Kingboard 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 Kingboard 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 Kingboard Holdings.

DB:KGZ 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 10.4%
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:KGZ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.067 (1 + (1- 25%) (91.37%))
1.535
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.54
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.535 * 6.65%)
10.44%

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

The calculations below outline how an intrinsic value for Kingboard 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:KGZ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 10.44%)
2019 3,468.00 Analyst x1 3,140.23
2020 5,117.00 Analyst x1 4,195.47
2021 5,183.00 Analyst x1 3,847.95
2022 5,233.07 Est @ 0.97% 3,517.93
2023 5,272.04 Est @ 0.74% 3,209.16
2024 5,303.13 Est @ 0.59% 2,922.99
2025 5,328.64 Est @ 0.48% 2,659.47
2026 5,350.24 Est @ 0.41% 2,417.87
2027 5,369.07 Est @ 0.35% 2,197.06
2028 5,385.98 Est @ 0.31% 1,995.68
Present value of next 10 years cash flows HK$30,103.81
DB:KGZ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$5,385.98 × (1 + 0.23%) ÷ (10.44% – 0.23%)
HK$52,873.70
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$52,873.70 ÷ (1 + 10.44%)10
HK$19,591.40
DB:KGZ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$30,103.81 + HK$19,591.40
HK$49,695.21
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$49,695.21 / 1,083.15
HK$45.88
DB:KGZ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KGZ represents 0.11094x of SEHK:148
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11094x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 45.88 x 0.11094
€5.09
Value per share (EUR) From above. €5.09
Current discount Discount to share price of €3.08
= -1 x (€3.08 - €5.09) / €5.09
39.4%

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

Current Discount
Amount off the current price Kingboard Holdings is available for.
Intrinsic value
39%
Share price is €3.08 vs Future cash flow value of €5.09
Current Discount Checks
For Kingboard Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kingboard Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kingboard Holdings's share price is below the future cash flow value, but not 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 Kingboard Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kingboard Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KGZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$5.69
SEHK:148 Share Price ** SEHK (2019-04-18) in HKD HK$27.8
Germany Electronic Industry PE Ratio Median Figure of 13 Publicly-Listed Electronic Companies 23.37x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

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

** Primary Listing of Kingboard Holdings.

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

= SEHK:148 Share Price ÷ EPS (both in HKD)

= 27.8 ÷ 5.69

4.88x

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

  • Kingboard Holdings is good value based on earnings compared to the DE Electronic industry average.
  • Kingboard Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Kingboard Holdings's expected growth come at a high price?
Raw Data
DB:KGZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-5%per year
Germany Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.1x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.88x ÷ -5%

-0.98x

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

  • Kingboard Holdings 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 Kingboard Holdings's assets?
Raw Data
DB:KGZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$43.70
SEHK:148 Share Price * SEHK (2019-04-18) in HKD HK$27.8
Germany Electronic Industry PB Ratio Median Figure of 19 Publicly-Listed Electronic Companies 2.57x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:KGZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:148 Share Price ÷ Book Value per Share (both in HKD)

= 27.8 ÷ 43.70

0.64x

* Primary Listing of Kingboard Holdings.

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

  • Kingboard Holdings is good value based on assets compared to the DE Electronic industry average.
X
Value checks
We assess Kingboard 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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Kingboard Holdings has a total score of 4/6, 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.

KGZ Future Performance

 How is Kingboard Holdings 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
-5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kingboard Holdings expected to grow at an attractive rate?
  • Kingboard Holdings'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
  • Kingboard Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Kingboard Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KGZ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KGZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -5%
DB:KGZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 4.6%
Germany Electronic Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Electronic Industry Revenue Growth Rate Market Cap Weighted Average 7.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
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:KGZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KGZ Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 52,850 8,825 5,098 1
2020-12-31 50,447 9,103 5,054 1
2019-12-31 48,350 8,334 4,725 1
DB:KGZ Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 45,994 3,448 6,076
2018-09-30 46,359 1,527 6,829
2018-06-30 46,513 -544 7,582
2018-03-31 44,836 -199 6,588
2017-12-31 43,371 294 5,593
2017-09-30 39,773 3,623 5,647
2017-06-30 36,175 6,951 5,701
2017-03-31 36,003 9,032 5,364
2016-12-31 35,830 11,113 5,027
2016-09-30 35,232 9,526 3,650
2016-06-30 34,634 7,939 2,273
2016-03-31 33,711 5,246 1,962

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kingboard Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Kingboard Holdings's revenue is expected to grow by 4.6% 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:KGZ 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 1 Analyst Estimates (S&P Global) See Below

All data from Kingboard Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KGZ Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.56 4.56 4.56 1.00
2020-12-31 4.52 4.52 4.52 1.00
2019-12-31 4.23 4.23 4.23 1.00
DB:KGZ Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 5.69
2018-09-30 6.43
2018-06-30 7.17
2018-03-31 6.27
2017-12-31 5.36
2017-09-30 5.44
2017-06-30 5.51
2017-03-31 5.20
2016-12-31 4.89
2016-09-30 3.55
2016-06-30 2.22
2016-03-31 1.91

*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.
  • Kingboard Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kingboard 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.
Kingboard Holdings 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.

KGZ Past Performance

  How has Kingboard 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 Kingboard Holdings's growth in the last year to its industry (Electronic).
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.
  • Kingboard Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Kingboard Holdings's 1-year earnings growth is less than its 5-year average (8.6% vs 24.5%)
  • Kingboard Holdings's earnings growth has not exceeded the DE Electronic industry average in the past year (8.6% vs 18.1%).
Earnings and Revenue History
Kingboard 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 Kingboard Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KGZ 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 45,994.42 6,075.76 3,159.54
2018-09-30 46,359.37 6,829.00 3,081.97
2018-06-30 46,512.52 7,582.24 3,004.40
2018-03-31 44,836.00 6,587.84 2,931.98
2017-12-31 43,371.27 5,593.43 2,859.57
2017-09-30 39,773.16 5,647.25 2,833.30
2017-06-30 36,175.04 5,701.06 2,807.03
2017-03-31 36,002.68 5,363.95 2,795.79
2016-12-31 35,830.32 5,026.83 2,784.55
2016-09-30 35,232.25 3,650.13 2,687.14
2016-06-30 34,634.18 2,273.43 2,589.73
2016-03-31 33,711.18 1,961.88 2,647.60
2015-12-31 32,788.19 1,650.32 2,705.47
2015-09-30 33,805.39 1,830.35 2,754.58
2015-06-30 34,822.60 2,010.38 2,803.69
2015-03-31 35,364.18 2,273.59 2,719.71
2014-12-31 35,905.77 2,536.80 2,635.72
2014-09-30 36,033.15 2,987.10 2,592.19
2014-06-30 36,160.53 3,437.39 2,548.65
2014-03-31 35,921.99 3,199.40 2,515.72
2013-12-31 35,683.46 2,961.41 2,482.78
2013-09-30 36,730.39 2,541.84 2,477.36
2013-06-30 37,777.33 2,122.28 2,471.94
2013-03-31 37,533.83 2,109.66 2,484.23
2012-12-31 37,290.32 2,097.03 2,496.51
2012-09-30 35,744.73 1,892.45 2,554.92
2012-06-30 34,199.14 1,687.86 2,613.32

*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.
  • Kingboard Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kingboard Holdings used its assets less efficiently than the DE Electronic industry average last year based on Return on Assets.
  • Kingboard Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kingboard 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 Electronic 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.
Kingboard 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.

KGZ Health

 How is Kingboard 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 Kingboard Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kingboard Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kingboard Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kingboard 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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.6x 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 Kingboard Holdings Company Filings, last reported 3 months ago.

DB:KGZ Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 54,633.27 27,513.68 7,551.52
2018-09-30 54,633.27 27,513.68 7,551.52
2018-06-30 55,515.23 26,219.38 7,899.39
2018-03-31 55,515.23 26,219.38 7,899.39
2017-12-31 53,723.72 19,088.34 8,892.74
2017-09-30 53,723.72 19,088.34 8,892.74
2017-06-30 48,056.96 16,384.66 6,534.19
2017-03-31 48,056.96 16,384.66 6,534.19
2016-12-31 43,952.67 16,864.15 6,472.61
2016-09-30 43,952.67 16,864.15 6,472.61
2016-06-30 41,878.72 17,963.06 4,574.45
2016-03-31 41,878.72 17,963.06 4,574.45
2015-12-31 41,340.73 20,710.67 5,063.87
2015-09-30 41,340.73 20,710.67 5,063.87
2015-06-30 42,635.63 22,170.59 4,017.76
2015-03-31 42,635.63 22,170.59 4,017.76
2014-12-31 41,973.19 22,055.00 4,559.40
2014-09-30 41,973.19 22,055.00 4,559.40
2014-06-30 41,195.35 22,318.16 4,616.80
2014-03-31 41,195.35 22,318.16 4,616.80
2013-12-31 40,859.96 23,679.60 6,363.24
2013-09-30 40,859.96 23,679.60 6,363.24
2013-06-30 37,052.98 22,797.25 4,426.36
2013-03-31 37,052.98 22,797.25 4,426.36
2012-12-31 36,149.15 17,759.08 3,914.99
2012-09-30 36,149.15 17,759.08 3,914.99
2012-06-30 34,686.41 19,317.73 3,769.25
  • Kingboard Holdings's level of debt (50.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (57.9% vs 50.4% today).
  • Debt is not well covered by operating cash flow (12.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.2x coverage).
X
Financial health checks
We assess Kingboard 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. Kingboard Holdings has a total score of 4/6, 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.

KGZ Dividends

 What is Kingboard 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
4.68%
Current annual income from Kingboard Holdings dividends. Estimated to be 6.15% next year.
If you bought €2,000 of Kingboard Holdings shares you are expected to receive €94 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?
  • Kingboard Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Kingboard Holdings's dividend is above the markets top 25% of dividend payers in Germany (3.71%).
Upcoming dividend payment

Purchase Kingboard Holdings 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:KGZ 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
Germany Electronic Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 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:KGZ Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.78 2.00
2020-12-31 1.73 2.00
2019-12-31 1.62 2.00
DB:KGZ Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-03-20 1.300 4.681
2018-08-24 1.600 6.583
2018-03-23 1.600 5.325
2017-08-18 1.300 3.063
2017-04-24 1.400 4.500
2017-03-24 1.400 4.906
2016-04-18 0.500 2.496
2016-03-21 0.500 3.740
2015-04-14 0.600 5.044
2015-03-16 0.600 4.637
2014-04-15 0.300 2.043
2014-03-21 0.300 1.940
2013-04-02 0.433 2.405
2013-03-08 0.433 2.242
2012-08-31 0.167 0.867
2012-03-29 0.542 3.693
2011-08-29 0.833 4.041
2011-03-07 1.000 3.202
2010-08-20 0.833 2.449
2010-03-02 0.625 2.091
2009-08-28 0.500 1.961
2009-04-23 0.583 3.436

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Kingboard Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Kingboard 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 Kingboard Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kingboard Holdings has a total score of 5/6, see the detailed checks below.


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

KGZ Management

 What is the CEO of Kingboard 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
Wing Yiu Chang
COMPENSATION HK$22,381,000
AGE 51
CEO Bio

Mr. Wing Yiu Chang has been Managing Director of Kingboard Chemical Holdings Ltd. since August 1, 2014. Mr. Chan serves as the Chief Executive Officer of the PRC Company and is responsible for supervising the day-to-day operations of the Methanol Project following the completion of the Acquisition and its financial management. He served as the Head of Purchasing Function & Product Development at Kingboard Chemical Holdings Ltd., until August 1, 2014. He joined Kingboard Chemical Holdings Ltd. in 1989. He has been an Executive Director of Elec & Eltek International Company Limited and Elec & Eltek International Holdings Limited since December 13, 2004. He serves as an Executive Director of Kingboard Chemical Holdings Ltd. He served as an Executive Director of G-Prop Holdings Ltd. (now Common Splendor International Health Industry Group Limited) from October 2007 to May 19, 2008. Mr. Chan graduated from the Hong Kong Polytechnic University (formerly, Hong Kong Polytechnic) with a higher diploma in Marine Electronics.

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

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

8.3
Average Tenure
52
Average Age
  • The average tenure for the Kingboard Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Kwok Wing Cheung

TITLE
Co-Founder & Chairman
COMPENSATION
HK$32M
AGE
62

Wing Yiu Chang

TITLE
Chief Executive
COMPENSATION
HK$22M
AGE
51

Kwong Cheung

TITLE
Executive Director
COMPENSATION
HK$19M
AGE
53

Yin Ho

TITLE
Head of Chemical Business Operations & Executive Director
COMPENSATION
HK$19M
AGE
63

Stephanie Cheung

TITLE
Executive Director
COMPENSATION
HK$17M
AGE
47

Maosheng Chen

TITLE
Executive Director
COMPENSATION
HK$4M
AGE
54
TENURE
8.3 yrs

Ka Cheung

TITLE
Executive Director
COMPENSATION
HK$10M
AGE
30
TENURE
4.7 yrs

Ka Leong Lo

TITLE
Company Secretary
AGE
44
TENURE
19.9 yrs
Board of Directors Tenure

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

4.7
Average Tenure
57.5
Average Age
  • The tenure for the Kingboard Holdings board of directors is about average.
Board of Directors

Kwok Wing Cheung

TITLE
Co-Founder & Chairman
COMPENSATION
HK$32M
AGE
62

Wing Yiu Chang

TITLE
Chief Executive
COMPENSATION
HK$22M
AGE
51

Kwong Cheung

TITLE
Executive Director
COMPENSATION
HK$19M
AGE
53

Yin Ho

TITLE
Head of Chemical Business Operations & Executive Director
COMPENSATION
HK$19M
AGE
63
TENURE
12.3 yrs

Stephanie Cheung

TITLE
Executive Director
COMPENSATION
HK$17M
AGE
47
TENURE
12.3 yrs

Maosheng Chen

TITLE
Executive Director
COMPENSATION
HK$4M
AGE
54
TENURE
8.3 yrs

Ka Cheung

TITLE
Executive Director
COMPENSATION
HK$10M
AGE
30
TENURE
4.7 yrs

Ming Cheung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$390K
AGE
61
TENURE
3.4 yrs

Kin Chong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$450K
AGE
62
TENURE
2.8 yrs

Tai Chiu Leung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$158K
AGE
72
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • Kingboard Holdings insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
18. Apr 19 Sell Wai Lin Cheung Individual 15. Apr 19 15. Apr 19 -98,500 €3.20 €-314,718
11. Apr 19 Sell Kwok Wing Cheung Individual 10. Apr 19 10. Apr 19 -1,372,500 €3.23 €-4,429,355
11. Apr 19 Sell Wing Yiu Chang Individual 10. Apr 19 10. Apr 19 -300,000 €3.24 €-972,396
11. Apr 19 Sell Kwok Wing Cheung Individual 08. Apr 19 08. Apr 19 -1,863,500 €3.23 €-6,018,526
11. Apr 19 Sell Wing Yiu Chang Individual 08. Apr 19 08. Apr 19 -350,000 €3.23 €-1,129,599
11. Apr 19 Sell Kwong Cheung Individual 08. Apr 19 08. Apr 19 -1,100,000 €3.22 €-3,543,941
11. Apr 19 Sell Wing Yiu Chang Individual 09. Apr 19 09. Apr 19 -550,000 €3.23 €-1,776,123
07. Jan 19 Buy Kwong Cheung Individual 03. Jan 19 03. Jan 19 932,500 €2.29 €2,139,494
07. Jan 19 Buy Kwong Cheung Individual 02. Jan 19 02. Jan 19 67,500 €2.32 €156,273
02. Jan 19 Buy Kwok Wing Cheung Individual 31. Dec 18 31. Dec 18 26,500 €2.30 €60,874
13. Dec 18 Buy Hallgain Management Limited Company 11. Dec 18 11. Dec 18 263,500 €2.48 €654,147
05. Dec 18 Sell FMR LLC Company 30. Nov 18 30. Nov 18 -235,000 €2.47 €-580,195
04. Dec 18 Buy Kwok Wing Cheung Individual 03. Dec 18 03. Dec 18 216,500 €2.71 €586,760
15. Nov 18 Buy Kwok Wing Cheung Individual 14. Nov 18 14. Nov 18 256,000 €2.44 €623,770
30. Oct 18 Buy Ka Cheung Individual 29. Oct 18 29. Oct 18 100,000 €2.35 €234,647
30. Oct 18 Buy Kwok Wing Cheung Individual 29. Oct 18 29. Oct 18 100,000 €2.35 €235,207
23. Oct 18 Buy Hallgain Management Limited Company 22. Oct 18 22. Oct 18 16,700,000 €2.68 €44,773,315
23. Oct 18 Buy Kwok Wing Cheung Individual 23. Oct 18 23. Oct 18 100,000 €2.65 €265,497
23. Oct 18 Sell Ka Cheung Individual 22. Oct 18 22. Oct 18 -3,160,000 €2.68 €-8,472,076
23. Oct 18 Sell Wai Lin Cheung Individual 22. Oct 18 22. Oct 18 -2,460,000 €2.68 €-6,595,351
23. Oct 18 Sell Yin Ho Individual 22. Oct 18 22. Oct 18 -3,100,000 €2.68 €-8,311,214
23. Oct 18 Sell Kwok Wing Cheung Individual 22. Oct 18 22. Oct 18 -3,360,000 €2.68 €-9,008,284
23. Oct 18 Sell Wing Yiu Chang Individual 22. Oct 18 22. Oct 18 -2,660,000 €2.68 €-7,131,558
23. Oct 18 Sell Kwong Cheung Individual 22. Oct 18 22. Oct 18 -1,960,000 €2.68 €-5,254,832
16. Oct 18 Buy Kwong Cheung Individual 11. Oct 18 11. Oct 18 100,000 €2.53 €252,793
16. Oct 18 Buy Kwok Wing Cheung Individual 15. Oct 18 15. Oct 18 200,000 €2.59 €517,745
09. Oct 18 Buy Kwok Wing Cheung Individual 09. Oct 18 09. Oct 18 100,000 €2.61 €260,828
26. Sep 18 Buy Kwok Wing Cheung Individual 24. Sep 18 24. Sep 18 200,000 €2.85 €570,106
18. Sep 18 Buy Ka Cheung Individual 18. Sep 18 18. Sep 18 100,000 €2.62 €262,382
18. Sep 18 Buy Kwok Wing Cheung Individual 17. Sep 18 17. Sep 18 100,000 €2.62 €261,768
17. Sep 18 Buy Kwok Wing Cheung Individual 14. Sep 18 14. Sep 18 176,500 €2.59 €456,390
13. Sep 18 Buy Kwok Wing Cheung Individual 12. Sep 18 12. Sep 18 100,000 €2.46 €245,674
06. Sep 18 Buy Kwok Wing Cheung Individual 06. Sep 18 06. Sep 18 100,000 €2.80 €279,739
28. Aug 18 Buy Kwok Wing Cheung Individual 28. Aug 18 28. Aug 18 300,000 €3.09 €928,007
28. Aug 18 Buy Kwok Wing Cheung Individual 27. Aug 18 27. Aug 18 400,000 €3.17 €1,268,743
16. Jul 18 Buy Ka Cheung Individual 12. Jul 18 12. Jul 18 15,000 €2.92 €43,751
09. Jul 18 Buy Ka Cheung Individual 06. Jul 18 06. Jul 18 25,000 €2.95 €73,696
03. Jul 18 Buy Ka Cheung Individual 29. Jun 18 29. Jun 18 50,000 €3.09 €154,296
19. Jun 18 Buy Kin Chong Individual 15. Jun 18 15. Jun 18 30,000 €3.45 €103,417
29. May 18 Buy FMR LLC Company 24. May 18 24. May 18 1,675,000 €3.53 €5,920,812
28. May 18 Buy FMR LLC Company 23. May 18 23. May 18 2,000,000 €3.48 €6,956,536
03. May 18 Sell Wai Lin Cheung Individual 27. Apr 18 27. Apr 18 -54,000 €3.34 €-180,272
03. May 18 Sell Wai Lin Cheung Individual 30. Apr 18 30. Apr 18 -126,000 €3.40 €-428,779
X
Management checks
We assess Kingboard 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. Kingboard 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.

KGZ News

Simply Wall St News

KGZ Company Info

Description

Kingboard Holdings Limited, an investment holding company, manufactures and sells laminates and printed circuit boards. The company also offers chemical products, including coke, methanol, benzene, tar, acetic acid, propylene, methyl tert-butyl ether, liquefied petroleum gas, phenol, acetone, bisphenol A, caustic soda, polyvinyl chloride, hydrochloric acid, liquefied chlorine, chlorinated wax, sodium sulfate, formalin, hydrogen peroxide, and tetrabromobisphenol. In addition, it is involved in the manufacture and distribution magnetic and glass fabric products; property investment and development activities; rental of commercial properties; sales of residential units; provision of drilling services; and refining and distribution of chemicals. The company sells its products in the People’s Republic of China, Thailand, Japan, Korea, Singapore, Europe, and the United States. The company was formerly known as Kingboard Chemical Holdings Limited and changed its name to Kingboard Holdings Limited in July 2018. Kingboard Holdings Limited is headquartered in Shatin, Hong Kong.

Details
Name: Kingboard Holdings Limited
KGZ
Exchange: DB
Founded:
HK$3,409,088,517
1,083,152,236
Website: http://www.kingboard.com
Address: Kingboard Holdings Limited
Delta House,
23rd Floor,
Shatin,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 148 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Jan 1994
OTCPK KBDC.F Ordinary Shares Pink Sheets LLC US USD 11. Jan 1994
DB KGZ Ordinary Shares Deutsche Boerse AG DE EUR 11. Jan 1994
SHSC 148 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 11. Jan 1994
SZSC 148 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 11. Jan 1994
Number of employees
Current staff
Staff numbers
41,900
Kingboard Holdings employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 21:31
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/21
Last earnings filing: 2019/04/16
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.