Loading...

Fullwealth Construction Holdings

SEHK:1034
Snowflake Description

Adequate balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1034
SEHK
HK$338M
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Fullwealth Construction Holdings Company Limited, an investment holding company, engages in the civil engineering and building works in Hong Kong. The last earnings update was 85 days ago. More info.


Add to Portfolio Compare Print
  • Fullwealth Construction Holdings has significant price volatility in the past 3 months.
1034 Share Price and Events
7 Day Returns
2.2%
SEHK:1034
1%
HK Construction
1.5%
HK Market
1 Year Returns
-
SEHK:1034
-10.9%
HK Construction
-4.7%
HK Market
1034 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fullwealth Construction Holdings (1034) 2.2% 16.6% -91.2% - - -
HK Construction 1% -4.3% -13.7% -10.9% -21.2% -2%
HK Market 1.5% 3.9% -8.2% -4.7% 18.3% 3.4%
1 Year Return vs Industry and Market
  • No trading data on 1034.
  • No trading data on 1034.
Price Volatility
Industry
5yr Volatility vs Market

1034 Value

 Is Fullwealth Construction 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
  • It is not possible to calculate the future cash flow value for Fullwealth Construction Holdings. This is due to cash flow or dividend data being unavailable. The share price is HK$0.232.
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 Fullwealth Construction Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fullwealth Construction Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1034 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.01
SEHK:1034 Share Price ** SEHK (2019-07-17) in HKD HK$0.23
Hong Kong Construction Industry PE Ratio Median Figure of 105 Publicly-Listed Construction Companies 10.15x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.75x

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

** Primary Listing of Fullwealth Construction Holdings.

SEHK:1034 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1034 Share Price ÷ EPS (both in HKD)

= 0.23 ÷ 0.01

24.06x

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

  • Fullwealth Construction Holdings is overvalued based on earnings compared to the HK Construction industry average.
  • Fullwealth Construction Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Fullwealth Construction Holdings's expected growth come at a high price?
Raw Data
SEHK:1034 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.6%per year
Hong Kong Construction Industry PEG Ratio Median Figure of 10 Publicly-Listed Construction Companies 0.56x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.8x

*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 Fullwealth Construction Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Fullwealth Construction Holdings's assets?
Raw Data
SEHK:1034 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.11
SEHK:1034 Share Price * SEHK (2019-07-17) in HKD HK$0.23
Hong Kong Construction Industry PB Ratio Median Figure of 136 Publicly-Listed Construction Companies 1.4x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:1034 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1034 Share Price ÷ Book Value per Share (both in HKD)

= 0.23 ÷ 0.11

2.09x

* Primary Listing of Fullwealth Construction Holdings.

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

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

1034 Future Performance

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

  • No analysts cover Fullwealth Construction 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
9.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fullwealth Construction Holdings expected to grow at an attractive rate?
  • Fullwealth Construction Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Fullwealth Construction Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Fullwealth Construction Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1034 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1034 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.6%
Hong Kong Construction Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
Hong Kong Construction Industry Revenue Growth Rate Market Cap Weighted Average 9.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -7.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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:1034 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 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:1034 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 317 -1 12
2017-12-31 397 18 46
2016-12-31 359 21 28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fullwealth Construction Holdings's earnings are expected to grow by 9.6% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Fullwealth Construction 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:1034 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Fullwealth Construction Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1034 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.01
2017-12-31 0.04
2016-12-31

*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 Fullwealth Construction Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Fullwealth Construction 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.
Fullwealth Construction 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.

1034 Past Performance

  How has Fullwealth Construction 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 Fullwealth Construction Holdings's growth in the last year to its industry (Construction).
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.
  • Insufficient data to establish if Fullwealth Construction Holdings's year on year earnings growth rate was positive over the past 5 years.
  • Fullwealth Construction Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Fullwealth Construction Holdings's 1-year earnings growth is negative, it can't be compared to the HK Construction industry average.
Earnings and Revenue History
Fullwealth Construction 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 Fullwealth Construction Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1034 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 316.58 12.24 25.66
2017-12-31 397.35 45.61 7.17
2016-12-31 359.44 28.47 3.52
2015-12-31 236.68 14.21 2.75

*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.
  • Fullwealth Construction Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Fullwealth Construction Holdings used its assets less efficiently than the HK Construction industry average last year based on Return on Assets.
  • Fullwealth Construction Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Fullwealth Construction 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 Construction 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.
Fullwealth Construction Holdings has a total score of 0/6, 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.

1034 Health

 How is Fullwealth Construction 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 Fullwealth Construction Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fullwealth Construction Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Fullwealth Construction Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Fullwealth Construction 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 53.3x 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 Fullwealth Construction Holdings Company Filings, last reported 6 months ago.

SEHK:1034 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 177.41 0.00 45.26
2017-12-31 76.21 18.21 29.57
2016-12-31 47.60 0.00 20.31
2015-12-31 19.13 0.00 5.48
  • Fullwealth Construction Holdings's level of debt (2%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Fullwealth Construction Holdings's debt level has increased without past 5-year debt data.
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 22.1x coverage).
X
Financial health checks
We assess Fullwealth Construction 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. Fullwealth Construction 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.

1034 Dividends

 What is Fullwealth Construction 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
0%
Current annual income from Fullwealth Construction Holdings dividends.
If you bought HK$2,000 of Fullwealth Construction Holdings shares you are expected to receive HK$0 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?
  • Unable to evaluate Fullwealth Construction Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Fullwealth Construction Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:1034 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 Construction Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 3.9%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

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

  • Unable to perform a dividend volatility check as Fullwealth Construction Holdings has not reported any payouts.
  • Unable to verify if Fullwealth Construction Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Fullwealth Construction Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Fullwealth Construction Holdings has not reported any payouts.
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 Fullwealth Construction Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Fullwealth Construction Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fullwealth Construction Holdings has a total score of 0/6, see the detailed checks below.


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

1034 Management

 What is the CEO of Fullwealth Construction 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
Fu Keung Law
COMPENSATION HK$817,000
AGE 57
CEO Bio

Mr. Fu Keung Law serves as Chairman and Chief Executive Officer at Fullwealth Construction Holdings Company Limited and has been its Executive Director since January 19, 2018.

CEO Compensation
  • Insufficient data for Fu Keung to compare compensation growth.
  • Fu Keung's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team

Fu Keung Law

TITLE
Chairman & CEO
COMPENSATION
HK$817K
AGE
57

Fung Cheng

TITLE
Executive Director
COMPENSATION
HK$718K
AGE
58

Edmond Woo

TITLE
CFO & Company Secretary
AGE
44
TENURE
0.3 yrs
Board of Directors Tenure

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

0.8
Average Tenure
57
Average Age
  • The average tenure for the Fullwealth Construction Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Fu Keung Law

TITLE
Chairman & CEO
COMPENSATION
HK$817K
AGE
57

Fung Cheng

TITLE
Executive Director
COMPENSATION
HK$718K
AGE
58
TENURE
1.4 yrs

On Lei Li

TITLE
Independent Non-Executive Director
COMPENSATION
HK$35K
AGE
41
TENURE
0.8 yrs

Kam Law

TITLE
Independent Non-Executive Director
COMPENSATION
HK$35K
AGE
62
TENURE
0.8 yrs

Wing Shum

TITLE
Independent Non-Executive Director
COMPENSATION
HK$35K
AGE
30
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Fullwealth Construction 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. Fullwealth Construction 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.

1034 News

Simply Wall St News

Should You Be Worried About Fullwealth Construction Holdings Company Limited's (HKG:1034) 6.9% Return On Equity?

To keep the lesson grounded in practicality, we'll use ROE to better understand Fullwealth Construction Holdings Company Limited (HKG:1034). … Fullwealth Construction Holdings has a ROE of 6.9%, based on the last twelve months. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.069 in profit.

Simply Wall St -

Do Insiders Own Lots Of Shares In Fullwealth Construction Holdings Company Limited (HKG:1034)?

Every investor in Fullwealth Construction Holdings Company Limited (HKG:1034) should be aware of the most powerful shareholder groups. … Fullwealth Construction Holdings is not a large company by global standards. … See our latest analysis for Fullwealth Construction Holdings

Simply Wall St -

1034 Company Info

Description

Fullwealth Construction Holdings Company Limited, an investment holding company, engages in the civil engineering and building works in Hong Kong. It undertakes various civil engineering works, such as site formation, and excavation and lateral support and pile cap construction works; and roads and drainage and waterworks, as well as building, and alteration and addition works. The company was founded in 1997 and is headquartered in Yuen Long, Hong Kong.

Details
Name: Fullwealth Construction Holdings Company Limited
1034
Exchange: SEHK
Founded: 1997
HK$337,600,000
1,600,000,000
Website: http://www.fullwealth.hk
Address: Fullwealth Construction Holdings Company Limited
Leung Choy Building,
Ground Floor,
Yuen Long,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1034 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 30. Oct 2018
Number of employees
Current staff
Staff numbers
125
Fullwealth Construction Holdings employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 13:05
End of day share price update: 2019/07/17 00:00
Last earnings filing: 2019/04/23
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.