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440

Dah Sing Financial HoldingsSEHK:440 Stock Report

Market Cap

HK$7.8b

7D

0%

1Y

23.4%

Updated

17 Oct, 2021

Data

Company Financials +
440 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance0/6
Financial Health5/6
Dividends3/6

440 Overview

Dah Sing Financial Holdings Limited, an investment holding company, provides banking, insurance, financial, and other related services in the People’s Republic of China.

Price History & Performance

Summary of all time highs, changes and price drops for Dah Sing Financial Holdings
Historical stock prices
Current Share PriceHK$24.45
52 Week HighHK$19.22
52 Week LowHK$33.50
Beta1.16
1 Month Change1.45%
3 Month Change-1.61%
1 Year Change23.36%
3 Year Change-47.65%
5 Year Change-53.61%
Change since IPO167.79%

Recent News & Updates

Aug 27
Dah Sing Financial Holdings' (HKG:440) Upcoming Dividend Will Be Larger Than Last Year's

Dah Sing Financial Holdings' (HKG:440) Upcoming Dividend Will Be Larger Than Last Year's

Dah Sing Financial Holdings Limited ( HKG:440 ) will increase its dividend on the 21st of September to HK$0.33. Even...

Shareholder Returns

440HK BanksHK Market
7D0%0.005%1.1%
1Y23.4%3.8%5.3%

Return vs Industry: 440 exceeded the Hong Kong Banks industry which returned 3.8% over the past year.

Return vs Market: 440 exceeded the Hong Kong Market which returned 5.3% over the past year.

Price Volatility

Is 440's price volatile compared to industry and market?
440 volatility
440 Beta1.16
Industry Beta0.61
Market Beta1

Stable Share Price: 440 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 440's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19873,079Derek Wonghttps://www.dahsing.com

Dah Sing Financial Holdings Limited, an investment holding company, provides banking, insurance, financial, and other related services in the People’s Republic of China. The company operates through Personal Banking, Commercial Banking, Treasury, Overseas Banking, and Insurance Business segments. The Personal Banking segment accepts various deposits from individual customers; and provides residential mortgage loans, personal loans, overdrafts, vehicle financing, and credit card services, as well as insurance sales and investment services.

Dah Sing Financial Holdings Fundamentals Summary

How do Dah Sing Financial Holdings's earnings and revenue compare to its market cap?
440 fundamental statistics
Market CapHK$7.81b
Earnings (TTM)HK$1.29b
Revenue (TTM)HK$4.69b

6.0x

P/E Ratio

0.3x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
440 income statement (TTM)
RevenueHK$4.69b
Cost of RevenueHK$0
Gross ProfitHK$4.69b
ExpensesHK$3.39b
EarningsHK$1.29b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)4.05
Gross Margin100.00%
Net Profit Margin27.63%
Debt/Equity Ratio15.4%

How did 440 perform over the long term?

See historical performance and comparison

Dividends

4.1%

Current Dividend Yield

25%

Payout Ratio

Valuation

Is Dah Sing Financial 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: 440 (HK$24.45) is trading below our estimate of fair value (HK$79.33)

Significantly Below Fair Value: 440 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 440 is poor value based on its PE Ratio (6x) compared to the Hong Kong Banks industry average (5.7x).

PE vs Market: 440 is good value based on its PE Ratio (6x) compared to the Hong Kong market (9.7x).


Price to Earnings Growth Ratio

PEG Ratio: 440 is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: 440 is good value based on its PB Ratio (0.3x) compared to the HK Banks industry average (0.4x).


Future Growth

How is Dah Sing Financial Holdings forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

11.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 440's forecast earnings growth (11.8% per year) is above the savings rate (1.5%).

Earnings vs Market: 440's earnings (11.8% per year) are forecast to grow slower than the Hong Kong market (17.4% per year).

High Growth Earnings: 440's earnings are forecast to grow, but not significantly.

Revenue vs Market: 440's revenue (8.9% per year) is forecast to grow slower than the Hong Kong market (12.5% per year).

High Growth Revenue: 440's revenue (8.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 440's Return on Equity is forecast to be low in 3 years time (6.2%).


Past Performance

How has Dah Sing Financial Holdings performed over the past 5 years?

-4.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 440 has a high level of non-cash earnings.

Growing Profit Margin: 440's current net profit margins (27.6%) are lower than last year (29.9%).


Past Earnings Growth Analysis

Earnings Trend: 440's earnings have declined by 4.8% per year over the past 5 years.

Accelerating Growth: 440's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 440 had negative earnings growth (-3.3%) over the past year, making it difficult to compare to the Banks industry average (6.4%).


Return on Equity

High ROE: 440's Return on Equity (4.7%) is considered low.


Financial Health

How is Dah Sing Financial Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: 440's Assets to Equity ratio (6.8x) is low.

Allowance for Bad Loans: 440 has a low allowance for bad loans (97%).

Low Risk Liabilities: 92% of 440's liabilities are made up of primarily low risk sources of funding.

Loan Level: 440 has an appropriate level of Loans to Assets ratio (56%).

Low Risk Deposits: 440's Loans to Deposits ratio (72%) is appropriate.

Level of Bad Loans: 440 has an appropriate level of bad loans (0.9%).


Dividend

What is Dah Sing Financial Holdings's current dividend yield, its reliability and sustainability?

4.09%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 440's dividend (4.09%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.26%).

High Dividend: 440's dividend (4.09%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.78%).


Stability and Growth of Payments

Stable Dividend: 440's dividend payments have been volatile in the past 10 years.

Growing Dividend: 440's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.7%), 440's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 440's dividends in 3 years are forecast to be well covered by earnings (31.5% payout ratio).


Next Steps

Management

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

9.5yrs

Average management tenure


CEO

Derek Wong (69 yo)

19.75yrs

Tenure

HK$11,726,000

Compensation

Mr. Hon-Hing Wong, also known as Derek, serves as Director of Banco Comercial de Macau SA since March 22, 2016. Mr. Wong serves as the Chief Executive and Managing Director of Dah Sing Banking Group Limite...


CEO Compensation Analysis

Compensation vs Market: Derek's total compensation ($USD1.51M) is above average for companies of similar size in the Hong Kong market ($USD443.10K).

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


Leadership Team

Experienced Management: 440's management team is seasoned and experienced (9.5 years average tenure).


Board Members

Experienced Board: 440's board of directors are seasoned and experienced ( 12.3 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

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


Top Shareholders

Company Information

Dah Sing Financial Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Dah Sing Financial Holdings Limited
  • Ticker: 440
  • Exchange: SEHK
  • Founded: 1987
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: HK$7.814b
  • Shares outstanding: 319.58m
  • Website: https://www.dahsing.com

Number of Employees


Location

  • Dah Sing Financial Holdings Limited
  • Dah Sing Financial Centre
  • 26th Floor
  • Wan Chai
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/17 10:07
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.