DB:KGZ

Stock Analysis Report

Kingboard Holdings

Executive Summary

Kingboard Holdings Limited, an investment holding company, manufactures and sells laminates and printed circuit boards.


Snowflake Analysis

Undervalued with excellent balance sheet and pays a dividend.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: KGZ's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.5%

KGZ

0.6%

DE Electronic

-2.7%

DE Market


1 Year Return

-33.5%

KGZ

-27.8%

DE Electronic

-20.4%

DE Market

Return vs Industry: KGZ underperformed the German Electronic industry which returned -27.6% over the past year.

Return vs Market: KGZ underperformed the German Market which returned -17.2% over the past year.


Shareholder returns

KGZIndustryMarket
7 Day-4.5%0.6%-2.7%
30 Day-11.0%-20.0%-18.4%
90 Day-27.6%-24.3%-26.7%
1 Year-30.4%-33.5%-26.3%-27.8%-18.1%-20.4%
3 Year-28.2%-39.9%-2.2%-5.3%-19.1%-25.9%
5 Year54.1%19.9%54.8%43.7%-19.5%-30.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KGZ (€2.1) is trading below our estimate of fair value (€6.75)

Significantly Below Fair Value: KGZ is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: KGZ is good value based on its PE Ratio (6.4x) compared to the Electronic industry average (18.2x).

PE vs Market: KGZ is good value based on its PE Ratio (6.4x) compared to the German market (16.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: KGZ is good value based on its PB Ratio (0.4x) compared to the DE Electronic industry average (1.2x).


Next Steps

Future Growth

How is Kingboard Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.2%

Forecasted Tech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Kingboard Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Kingboard Holdings performed over the past 5 years?

16.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KGZ has high quality earnings.

Growing Profit Margin: KGZ's current net profit margins (7.5%) are lower than last year (13.2%).


Past Earnings Growth Analysis

Earnings Trend: KGZ's earnings have grown by 16% per year over the past 5 years.

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

Earnings vs Industry: KGZ had negative earnings growth (-49.1%) over the past year, making it difficult to compare to the Electronic industry average (-7.4%).


Return on Equity

High ROE: KGZ's Return on Equity (6.5%) is considered low.


Next Steps

Financial Health

How is Kingboard Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: KGZ's short term assets (HK$44.6B) exceed its short term liabilities (HK$21.8B).

Long Term Liabilities: KGZ's short term assets (HK$44.6B) exceed its long term liabilities (HK$17.3B).


Debt to Equity History and Analysis

Debt Level: KGZ's debt to equity ratio (42.1%) is considered high.

Reducing Debt: KGZ's debt to equity ratio has reduced from 52.5% to 42.1% over the past 5 years.

Debt Coverage: KGZ's debt is well covered by operating cash flow (30.8%).

Interest Coverage: KGZ's interest payments on its debt are well covered by EBIT (8.9x coverage).


Balance Sheet

Inventory Level: KGZ has a high level of physical assets or inventory.

Debt Coverage by Assets: KGZ's debt is covered by short term assets (assets are 1.8x debt).


Next Steps

Dividend

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

7.65%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: KGZ's dividend (7.6%) is higher than the bottom 25% of dividend payers in the German market (1.65%).

High Dividend: KGZ's dividend (7.6%) is in the top 25% of dividend payers in the German market (4.87%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30.9%), KGZ's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KGZ's dividends in 3 years are forecast to be well covered by earnings (37.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.3yrs

Average management tenure


CEO

Wing Yiu Chang (52yo)

no data

Tenure

HK$22,359,000

Compensation

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  ...


CEO Compensation Analysis

Compensation vs Market: Wing Yiu's total compensation ($USD2.88M) is about average for companies of similar size in the German market ($USD3.67M).

Compensation vs Earnings: Wing Yiu's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Kwok Wing Cheung
Co-Founder & Chairmanno dataHK$31.67m0.60% HK$13.9m
Wing Yiu Chang
Chief Executiveno dataHK$22.36m0.82% HK$19.2m
Kwong Kwan Cheung
Executive Directorno dataHK$18.78m0.40% HK$9.4m
Yin Sang Ho
Head of Chemical Business Operations & Executive Director13.25yrsHK$18.63m0.34% HK$7.9m
Wai Lin Cheung
Executive Director13.25yrsHK$17.26m0.064% HK$1.5m
Maosheng Chen
Executive Director9.25yrsHK$3.39mno data
Ka Shing Cheung
Executive Director5.67yrsHK$10.52m0.13% HK$3.1m
Ka Leong Lo
Company Secretary20.92yrsno datano data

9.3yrs

Average Tenure

53yo

Average Age

Experienced Management: KGZ's management team is seasoned and experienced (9.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kwok Wing Cheung
Co-Founder & Chairmanno dataHK$31.67m0.60% HK$13.9m
Wing Yiu Chang
Chief Executiveno dataHK$22.36m0.82% HK$19.2m
Kwong Kwan Cheung
Executive Directorno dataHK$18.78m0.40% HK$9.4m
Yin Sang Ho
Head of Chemical Business Operations & Executive Director13.25yrsHK$18.63m0.34% HK$7.9m
Wai Lin Cheung
Executive Director13.25yrsHK$17.26m0.064% HK$1.5m
Maosheng Chen
Executive Director9.25yrsHK$3.39mno data
Ka Shing Cheung
Executive Director5.67yrsHK$10.52m0.13% HK$3.1m
Ming Man Cheung
Independent Non-Executive Director4.42yrsHK$390.00k0.0032% HK$74.2k
Tai Chiu Leung
Independent Non-Executive Director3.5yrsHK$158.00kno data
Kin Ki Chong
Independent Non-Executive Director3.75yrsHK$450.00k0.018% HK$423.7k

5.7yrs

Average Tenure

58.5yo

Average Age

Experienced Board: KGZ's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: KGZ insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Kingboard Holdings Limited
  • Ticker: KGZ
  • Exchange: DB
  • Founded:
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: HK$19.928b
  • Listing Market Cap: HK$2.340b
  • Shares outstanding: 1.10b
  • Website: https://www.kingboard.com

Number of Employees


Location

  • Kingboard Holdings Limited
  • Delta House
  • 23rd Floor
  • Shatin
  • New Territories
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KBDC.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1994
148SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 1994
KGZDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1994
148SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJan 1994
148SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJan 1994

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 02:35
End of Day Share Price2020/04/01 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.