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Public Financial Holdings

SEHK:626
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
626
SEHK
HK$4B
Market Cap
  1. Home
  2. HK
  3. Banks
Company description

Public Financial Holdings Limited, an investment and property holding company, provides retail and commercial banking, lending, and stockbroking services in Hong Kong and Mainland China. The last earnings update was 59 days ago. More info.


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626 Share Price and Events
7 Day Returns
0.3%
SEHK:626
2%
HK Banks
0.3%
HK Market
1 Year Returns
2.1%
SEHK:626
-9.9%
HK Banks
-4.8%
HK Market
626 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Public Financial Holdings (626) 0.3% 3.6% 3% 2.1% -2.3% -7.5%
HK Banks 2% 0.8% 6.4% -9.9% 29% 25.3%
HK Market 0.3% 1.6% 11.2% -4.8% 27% 20.8%
1 Year Return vs Industry and Market
  • 626 outperformed the Banks industry which returned -9.9% over the past year.
  • 626 outperformed the Market in Hong Kong which returned -4.8% over the past year.
Price Volatility
626
Industry
5yr Volatility vs Market

626 Value

 Is Public Financial 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 Public Financial 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 Public Financial Holdings.

SEHK:626 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= HK$6.83 * 5.9%
HK$0.40
Book Value of Equity per Share Median Book Value from the past 5 years. HK$6.83
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year HK Government Bond Rate 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 SEHK:626
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 25%) (38.44%))
0.842
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.842 * 6.65%)
7.6%

Discounted Cash Flow Calculation for SEHK:626 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Public Financial Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SEHK:626 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.9% – 7.6%) * HK$6.83)
HK$-0.11
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= HK$-0.11 / (7.6% - 2%)
HK$-2.05
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= HK$6.83 + HK$-2.05
HK$4.78
SEHK:626 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$4.78
Current discount Discount to share price of HK$3.44
= -1 x (HK$3.44 - HK$4.78) / HK$4.78
28.1%

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

Current Discount
Amount off the current price Public Financial Holdings is available for.
Intrinsic value
28%
Share price is HK$3.44 vs Future cash flow value of HK$4.78
Current Discount Checks
For Public Financial Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Public Financial Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Public Financial 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 Public Financial Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Public Financial Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:626 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.46
SEHK:626 Share Price ** SEHK (2019-04-18) in HKD HK$3.44
Hong Kong Banks Industry PE Ratio Median Figure of 31 Publicly-Listed Banks Companies 6.24x
Hong Kong Market PE Ratio Median Figure of 1,474 Publicly-Listed Companies 12.01x

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

** Primary Listing of Public Financial Holdings.

SEHK:626 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:626 Share Price ÷ EPS (both in HKD)

= 3.44 ÷ 0.46

7.4x

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

  • Public Financial Holdings is overvalued based on earnings compared to the HK Banks industry average.
  • Public Financial Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Public Financial Holdings's expected growth come at a high price?
Raw Data
SEHK:626 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.4x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
14.7%per year
Hong Kong Banks Industry PEG Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.9x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.86x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Public Financial Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Public Financial Holdings's assets?
Raw Data
SEHK:626 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$7.06
SEHK:626 Share Price * SEHK (2019-04-18) in HKD HK$3.44
Hong Kong Banks Industry PB Ratio Median Figure of 31 Publicly-Listed Banks Companies 0.75x
Hong Kong Market PB Ratio Median Figure of 2,149 Publicly-Listed Companies 1.03x
SEHK:626 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:626 Share Price ÷ Book Value per Share (both in HKD)

= 3.44 ÷ 7.06

0.49x

* Primary Listing of Public Financial Holdings.

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

  • Public Financial Holdings is good value based on assets compared to the HK Banks industry average.
X
Value checks
We assess Public Financial 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 Banks 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 Banks industry average (and greater than 0)? (1 check)
  5. Public Financial Holdings has a total score of 3/6, 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.

626 Future Performance

 How is Public Financial Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Public Financial Holdings, future earnings growth has been estimated based on fundamentals.
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
14.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Public Financial Holdings expected to grow at an attractive rate?
  • Public Financial Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Public Financial Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Public Financial Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:626 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:626 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 14.7%
Hong Kong Banks Industry Earnings Growth Rate Market Cap Weighted Average 6.3%
Hong Kong Banks Industry Revenue Growth Rate Market Cap Weighted Average 13.8%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 11.2%

*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
SEHK:626 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:626 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,471 8 510
2018-09-30 1,485 455 518
2018-06-30 1,498 903 526
2018-03-31 1,476 116 515
2017-12-31 1,454 -672 504
2017-09-30 1,406 -344 474
2017-06-30 1,358 -16 444
2017-03-31 1,323 100 425
2016-12-31 1,289 216 407
2016-09-30 1,290 668 406
2016-06-30 1,292 1,121 404
2016-03-31 1,294 -84 414

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Public Financial Holdings's earnings are expected to grow by 14.7% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Public Financial Holdings is high growth as no revenue estimate data is available.
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
SEHK:626 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 0 Analyst Estimates (S&P Global) See Below

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

SEHK:626 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.46
2018-09-30 0.47
2018-06-30 0.48
2018-03-31 0.47
2017-12-31 0.46
2017-09-30 0.43
2017-06-30 0.40
2017-03-31 0.39
2016-12-31 0.37
2016-09-30 0.37
2016-06-30 0.37
2016-03-31 0.38

*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.
  • Unable to establish if Public Financial Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Public Financial 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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong 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.
Public Financial Holdings has a total score of 2/6, 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.

626 Past Performance

  How has Public Financial 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 Public Financial Holdings's growth in the last year to its industry (Banks).
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.
  • Public Financial Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Public Financial Holdings's 1-year earnings growth is less than its 5-year average (1.4% vs 7.6%)
  • Public Financial Holdings's earnings growth has not exceeded the HK Banks industry average in the past year (1.4% vs 5.2%).
Earnings and Revenue History
Public Financial 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 Public Financial Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:626 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 1,471.45 510.48 728.34
2018-09-30 1,484.81 518.37 725.51
2018-06-30 1,498.16 526.25 722.68
2018-03-31 1,476.31 514.88 716.37
2017-12-31 1,454.45 503.51 710.06
2017-09-30 1,406.14 473.93 698.15
2017-06-30 1,357.82 444.34 686.25
2017-03-31 1,323.35 425.45 675.92
2016-12-31 1,288.88 406.56 665.58
2016-09-30 1,290.49 405.53 664.55
2016-06-30 1,292.09 404.50 663.52
2016-03-31 1,294.01 413.73 662.89
2015-12-31 1,295.92 422.96 662.27
2015-09-30 1,286.35 419.86 661.41
2015-06-30 1,276.77 416.77 660.55
2015-03-31 1,256.26 400.58 651.51
2014-12-31 1,235.74 384.39 642.47
2014-09-30 1,212.00 371.45 629.62
2014-06-30 1,188.25 358.51 616.78
2014-03-31 1,196.86 363.14 613.99
2013-12-31 1,205.47 367.76 611.20
2013-09-30 1,203.03 386.12 607.46
2013-06-30 1,200.60 404.49 603.72
2013-03-31 1,170.24 393.03 591.21
2012-12-31 1,139.88 381.57 578.71
2012-09-30 1,142.29 361.43 577.97
2012-06-30 1,144.70 341.29 577.22

*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.
  • Public Financial Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Public Financial Holdings used its assets more efficiently than the HK Banks industry average last year based on Return on Assets.
  • Unable to establish if Public Financial Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Public Financial 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 Banks 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.
Public Financial 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.

626 Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Public Financial 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.
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 Public Financial Holdings Company Filings, last reported 3 months ago.

SEHK:626 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 7,747.81 1,451.89 5,591.37
2018-09-30 7,747.81 1,451.89 5,591.37
2018-06-30 7,714.85 1,545.01 5,234.97
2018-03-31 7,714.85 1,545.01 5,234.97
2017-12-31 7,621.25 1,583.55 6,067.81
2017-09-30 7,621.25 1,583.55 6,067.81
2017-06-30 7,501.82 1,600.84 9,265.15
2017-03-31 7,501.82 1,600.84 9,265.15
2016-12-31 7,279.31 1,629.30 9,010.80
2016-09-30 7,279.31 1,629.30 9,010.80
2016-06-30 7,252.00 1,630.39 8,648.71
2016-03-31 7,252.00 1,630.39 8,648.71
2015-12-31 7,122.55 1,642.99 5,044.48
2015-09-30 7,122.55 1,642.99 5,044.48
2015-06-30 7,086.95 1,623.05 7,491.89
2015-03-31 7,086.95 1,623.05 7,491.89
2014-12-31 6,923.19 1,609.26 5,381.43
2014-09-30 6,923.19 1,609.26 5,381.43
2014-06-30 6,847.15 1,658.01 5,213.83
2014-03-31 6,847.15 1,658.01 5,213.83
2013-12-31 6,731.05 1,664.32 5,774.55
2013-09-30 6,731.05 1,664.32 5,774.55
2013-06-30 6,675.65 2,991.92 4,905.96
2013-03-31 6,675.65 2,991.92 4,905.96
2012-12-31 6,525.29 2,960.57 5,941.05
2012-09-30 6,525.29 2,960.57 5,941.05
2012-06-30 6,403.75 3,005.83 7,538.45
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Public Financial Holdings has an acceptable proportion of non-loan assets held.
  • Public Financial Holdings's liabilities are made up of primarily low risk sources of funding.
  • Loans at Public Financial Holdings are broadly funded by customer deposits.
  • Public Financial Holdings's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Public Financial Holdings has a low allowance for bad loans.
  • Public Financial Holdings has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Public Financial 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. Public Financial Holdings has a total score of 5/6, 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.

626 Dividends

 What is Public Financial 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
6.4%
Current annual income from Public Financial Holdings dividends.
If you bought HK$2,000 of Public Financial Holdings shares you are expected to receive HK$128 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?
  • Public Financial Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.94%).
  • Public Financial Holdings's dividend is above the markets top 25% of dividend payers in Hong Kong (5.34%).
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
SEHK:626 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Banks Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 5%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 965 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 1.9%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:626 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-12-27 0.220 6.617
2018-06-26 0.210 6.510
2017-12-27 0.210 6.160
2017-06-29 0.180 5.096
2016-12-28 0.180 5.095
2016-06-28 0.180 5.276
2015-12-29 0.180 5.209
2015-06-30 0.160 4.314
2015-02-12 0.160 4.132
2015-01-15 0.160 4.338
2014-06-26 0.160 4.301
2013-12-30 0.160 4.270
2013-06-25 0.140 3.698
2012-12-27 0.140 3.625
2012-06-26 0.160 4.735
2011-12-28 0.160 4.817
2011-06-28 0.210 5.799
2011-01-14 0.210 4.193
2010-01-18 0.180 4.032
2009-06-30 0.230 5.586
2009-04-21 0.230 7.277

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Public Financial Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Public Financial Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Public Financial Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Public Financial Holdings 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.

626 Management

 What is the CEO of Public Financial 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
Yoke Kong Tan
COMPENSATION HK$3,584,000
AGE 65
CEO Bio

Mr. Yoke Kong Tan serves as the Chief Executive Officer of Public Bank (Hong Kong) Limited. Mr. Tan serves as the Chief Executive Officer and Joint Secretary of Public Financial Holdings Limited (formerly known as JCG Holdings Ltd). Mr. Tan has more than 27 years of experience in the banking sector. He serves as an Executive Director of Public Bank (Hong Kong) Limited. Mr. Tan has been an Executive Director of Public Financial Holdings Limited since February 1992. Mr. Tan has been an Executive Director of Winton Holdings Bermuda Ltd., since November 1997. Mr. Tan serves as Vice-chairman of The DTC Association and is a Member of the Deposit-taking Companies Advisory Committee. Mr. Tan is a Fellow of the Association of Chartered Certified Accountants, UK. and an Associate of the Institute of Chartered Secretaries and Administrators, UK.

CEO Compensation
  • Yoke Kong's compensation has been consistent with company performance over the past year.
  • Yoke Kong's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Yoke Kong Tan

TITLE
CEO, Joint Secretary & Executive Director
COMPENSATION
HK$4M
AGE
65

Huat Oon Lee

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
56

Sau Kuen Chan

TITLE
Joint Secretary
Board of Directors Tenure

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

14.6
Average Tenure
66
Average Age
  • The average tenure for the Public Financial Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Hong Piow Teh

TITLE
Non-Executive Chairman of the Board
COMPENSATION
HK$325K
AGE
88
TENURE
27.6 yrs

Wan Lai

TITLE
Independent Non-Executive Co-Chairman of the Board
COMPENSATION
HK$200K
AGE
74
TENURE
3.8 yrs

Yoke Kong Tan

TITLE
CEO, Joint Secretary & Executive Director
COMPENSATION
HK$4M
AGE
65
TENURE
27.2 yrs

Huat Oon Lee

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
56
TENURE
22.8 yrs

Chin Guan Lee

TITLE
Independent Non-Executive Director
COMPENSATION
HK$200K
AGE
60
TENURE
14.6 yrs

Wing Chew Tang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$200K
AGE
73
TENURE
5.3 yrs

Kat Kiam Chang

TITLE
Non-Executive Director
COMPENSATION
HK$150K
AGE
63
TENURE
15.1 yrs

Yam Kiang Chong

TITLE
Non-Executive Director
COMPENSATION
HK$3M
AGE
67
TENURE
10.3 yrs

Poh Keat Quah

TITLE
Non-Executive Director
COMPENSATION
HK$200K
AGE
66
TENURE
10.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Public Financial 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. Public Financial 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.

626 News

Simply Wall St News

Is Public Financial Holdings Limited's (HKG:626) PE Ratio A Signal To Sell For Investors?

Public Financial Holdings Limited (HKG:626) is trading with a trailing P/E of 6.8x, which is higher than the industry average of 6.2x. … Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind. … Check out our latest analysis for Public Financial Holdings

Simply Wall St -

2 Days Left Before Public Financial Holdings Limited (HKG:626) Will Start Trading Ex-Dividend, Is It Worth Buying?

Have you been keeping an eye on Public Financial Holdings Limited's (HKG:626) upcoming dividend of HK$0.05 per share payable on the 08 August 2018? … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Public Financial Holdings's latest financial data to analyse its dividend attributes. … See our latest analysis for Public Financial Holdings

Simply Wall St -

Have You Considered These Key Risks For Public Financial Holdings Limited (HKG:626)?

As a small-cap bank with a market capitalisation of HK$3.62b, Public Financial Holdings Limited’s (HKG:626) profit and value are directly affected by economic activity. … Risk associate with repayment is measured by the level of bad debt which is an expense written off Public Financial Holdings’s bottom line. … See our latest analysis for Public Financial Holdings

Simply Wall St -

A Look At Public Financial Holdings Limited's (HKG:626) Exceptional Fundamentals

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Public Financial Holdings Limited (HKG:626), it. … is a company with great financial health as well as a.

Simply Wall St -

Does Public Financial Holdings Limited (HKG:626) Have A Place In Your Portfolio?

Public Financial Holdings Limited (SEHK:626) has returned to shareholders over the past 10 years, an average dividend yield of 5.00% annually. … Check out our latest analysis for Public Financial Holdings How I analyze a dividend stock When researching a dividend stock, I always follow the following screening criteria: Does it pay an annual yield higher than 75% of dividend payers? … SEHK:626 Historical Dividend Yield Mar 21st 18 How does Public Financial Holdings fare?

Simply Wall St -

What You Must Know About Public Financial Holdings Limited's (HKG:626) 6.76% ROE

See our latest analysis for Public Financial Holdings What you must know about ROE Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Since Public Financial Holdings’s return does not cover its cost, with a difference of -2.13%, this means its current use of equity is not efficient and not sustainable. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity SEHK:626 Last Perf Feb 5th 18 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

Should Income Investors Buy Public Financial Holdings Limited (HKG:626) Before Its Ex-Dividend?

Important news for shareholders and potential investors in Public Financial Holdings Limited (SEHK:626): The dividend payment of HK$0.16 per share will be distributed into shareholder on 23 February 2018, and the stock will begin trading ex-dividend at an earlier date, 29 January 2018. … Check out our latest analysis for Public Financial Holdings 5 checks you should use to assess a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is it the top 25% annual dividend yield payer? … Next Steps: Whilst there are few things you may like about Public Financial Holdings from a dividend stock perspective, the truth is that overall it probably is not the best choice for a dividend investor.

Simply Wall St -

626 Company Info

Description

Public Financial Holdings Limited, an investment and property holding company, provides retail and commercial banking, lending, and stockbroking services in Hong Kong and Mainland China. The company’s Retail and Commercial Banking Businesses segment offers various products and services, including deposit accounts; mortgages and consumer lending products; hire purchase and leasing; financing to purchasers of licensed public vehicles, such as taxis and public light buses; services and financing for customers in trading, manufacturing, and various other business sectors; foreign exchange services; and cash management services for deposit taking and lending. This segment has a combined network of 77 branches in Hong Kong and 4 branches in the People’s Republic of China. Its Wealth Management Services, Stockbroking and Securities Management segment is involved in the management of investments in debt securities and equities; securities dealing; and provision of wealth management products and services. The company’s Other Businesses segment engages in trading taxi cabs and taxi licenses; leasing taxis; and letting investment properties. Public Financial Holdings Limited also provides personal and short term loans, and nominee services. The company was formerly known as JCG Holdings Limited. The company was incorporated in 1991 and is headquartered in Central, Hong Kong. Public Financial Holdings Limited is a subsidiary of Public Bank Berhad.

Details
Name: Public Financial Holdings Limited
626
Exchange: SEHK
Founded: 1991
HK$3,776,836,605
1,097,917,618
Website: http://www.publicfinancial.com.hk
Address: Public Financial Holdings Limited
Public Bank Centre,
2nd Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 626 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,348
Public Financial Holdings employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 12:40
End of day share price update: 2019/04/18 00:00
Last earnings filing: 2019/02/20
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.