DB:KLN

Stock Analysis Report

Kingboard Laminates Holdings

Executive Summary

Kingboard Laminates Holdings Limited, an investment holding company, operates as a vertically-integrated electronic materials manufacturer in the People's Republic of China, other Asian countries, Europe, and America.


Snowflake Analysis

Flawless balance sheet, undervalued and pays a dividend.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-4.2%

KLN

-0.7%

DE Electronic

-3.0%

DE Market


1 Year Return

-14.6%

KLN

-28.9%

DE Electronic

-20.6%

DE Market

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

Return vs Market: KLN exceeded the German Market which returned -17.2% over the past year.


Shareholder returns

KLNIndustryMarket
7 Day-4.2%-0.7%-3.0%
30 Day-8.0%-19.9%-19.1%
90 Day-27.3%-23.8%-26.2%
1 Year-9.0%-14.6%-27.4%-28.9%-18.3%-20.6%
3 Year-18.1%-34.2%-3.8%-6.9%-18.8%-25.6%
5 Year166.1%80.6%53.3%42.0%-19.9%-30.7%

Price Volatility Vs. Market

How volatile is Kingboard Laminates 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 Laminates 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: KLN (€0.81) is trading below our estimate of fair value (€2.37)

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


Price To Earnings Ratio

PE vs Industry: KLN is good value based on its PE Ratio (9x) compared to the Electronic industry average (18.2x).

PE vs Market: KLN is good value based on its PE Ratio (9x) compared to the German market (16.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

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


Next Steps

Future Growth

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

9.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if KLN's forecast earnings growth is above the savings rate (-0.4%).

Earnings vs Market: Insufficient data to determine if KLN's earnings are forecast to grow faster than the German market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if KLN's revenue is forecast to grow faster than the German market.

High Growth Revenue: Insufficient data to determine if KLN's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if KLN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Kingboard Laminates Holdings performed over the past 5 years?

14.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KLN has high quality earnings.

Growing Profit Margin: KLN's current net profit margins (13.1%) are lower than last year (15.7%).


Past Earnings Growth Analysis

Earnings Trend: KLN's earnings have grown by 14.6% per year over the past 5 years.

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

Earnings vs Industry: KLN had negative earnings growth (-26.1%) over the past year, making it difficult to compare to the Electronic industry average (-7.4%).


Return on Equity

High ROE: KLN's Return on Equity (12.8%) is considered low.


Next Steps

Financial Health

How is Kingboard Laminates Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: KLN's short term assets (HK$14.7B) exceed its short term liabilities (HK$5.3B).

Long Term Liabilities: KLN's short term assets (HK$14.7B) exceed its long term liabilities (HK$1.7B).


Debt to Equity History and Analysis

Debt Level: KLN's debt to equity ratio (15.7%) is considered satisfactory.

Reducing Debt: KLN's debt to equity ratio has reduced from 35% to 15.7% over the past 5 years.

Debt Coverage: KLN's debt is well covered by operating cash flow (147%).

Interest Coverage: KLN's interest payments on its debt are well covered by EBIT (33.7x coverage).


Balance Sheet

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

Debt Coverage by Assets: KLN's debt is covered by short term assets (assets are 5x debt).


Next Steps

Dividend

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

5.75%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: KLN's dividend (5.71%) is higher than the bottom 25% of dividend payers in the German market (1.65%).

High Dividend: KLN's dividend (5.71%) is in the top 25% of dividend payers in the German market (4.87%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.3%), KLN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KLN's dividends in 3 years are forecast to be well covered by earnings (48% payout ratio).


Next Steps

Management

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

13.6yrs

Average board tenure


CEO

Kwok Keung Cheung (66yo)

no data

Tenure

HK$18,355,000

Compensation

Mr. Kwok Keung Cheung has been the Managing Director of Kingboard Laminates Holdings Ltd. since July 20, 2006 and serves as its Chief Executive Officer. Mr. Cheung has over 13 years' experience in the lami ...


CEO Compensation Analysis

Compensation vs Market: Kwok Keung's total compensation ($USD2.37M) is below average for companies of similar size in the German market ($USD3.67M).

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


Board Members

NamePositionTenureCompensationOwnership
Kwok Wa Cheung
Executive Chairman13.75yrsHK$23.39m0.23% HK$5.9m
Kwok Keung Cheung
CEO, MD & Executive Directorno dataHK$18.36m0.011% HK$290.4k
Pei Feng Zhou
Executive Director13.42yrsHK$3.08mno data
Ka Po Lam
Executive Director13.42yrsHK$18.20m0.042% HK$1.1m
Kwok Ping Cheung
Executive Director13.92yrsHK$18.49m0.032% HK$825.5k
Ka Ho Cheung
Executive Director13.75yrsHK$4.46m0.000060% HK$1.5k
Ping-Cheung Lau
Independent Non-Executive Director4.67yrsHK$390.00kno data
Ka Leong Lo
Non-Executive Director13.75yrsHK$1.71mno data
Shu Kwan Ip
Independent Non-Executive Director8.92yrsHK$630.00kno data
Tai Chiu Leung
Independent Non-Executive Director13.42yrsHK$342.00kno data

13.6yrs

Average Tenure

60yo

Average Age

Experienced Board: KLN's board of directors are seasoned and experienced ( 13.6 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: KLN 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 Laminates Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Kingboard Laminates Holdings Limited
  • Ticker: KLN
  • Exchange: DB
  • Founded:
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: HK$21.444b
  • Listing Market Cap: HK$2.543b
  • Shares outstanding: 3.08b
  • Website: https://www.kblaminates.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1888SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDDec 2006
KLNDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2006
KGBL.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2006
1888SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2006
1888SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDDec 2006
KLNBRSE (Berne Stock Exchange)YesOrdinary SharesCHCHFDec 2006
KGBL.YOTCPK (Pink Sheets LLC)ADRUSUSDMar 2011

Biography

Kingboard Laminates Holdings Limited, an investment holding company, operates as a vertically-integrated electronic materials manufacturer in the People's Republic of China, other Asian countries, Europe, and America. The company manufactures and sells laminates, including glass epoxy laminates, paper laminates, and composite epoxy material laminates. It also provides upstream component materials, such as copper foils, glass yarn, glass fabrics, bleached Kraft paper, epoxy resin, Kraft paper for copper-clad laminates, and polyvinyl butyral products, as well as chemicals; and offers drilling services comprising drilling of holes into the laminates. In addition, the company invests in and rents properties; and provides hotel accommodation services, and food and beverage and other ancillary services, as well as sells residential units. The company is headquartered in Shatin, Hong Kong. Kingboard Laminates Holdings Limited is a subsidiary of Jamplan (BVI) Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 22:25
End of Day Share Price2020/04/02 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.