Grand Ming Group Holdings
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Grand Ming Group Holdings Limited, an investment holding company, engages in the building construction, property leasing, and property development businesses in Hong Kong. The last earnings update was 23 days ago. More info.
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1271 Share Price and Events
7 Day Returns
1 Year Returns
1271 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Grand Ming Group Holdings (1271) | 0% | 0% | -1.5% | -3.5% | 16.1% | 105.2% |
| HK Construction | 0.1% | -3.5% | -13.6% | -11.4% | -21.4% | -4.6% |
| HK Market | 1% | 3.9% | -7.8% | -4.7% | 17.5% | 2% |
1 Year Return vs Industry and Market
- 1271 outperformed the Construction industry which returned -11.4% over the past year.
- 1271 outperformed the Market in Hong Kong which returned -4.7% over the past year.
1271 Value
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
Grand Ming Group 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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Grand Ming Group Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Extrapolated from most recent financials. | See below |
| Discount Rate (Cost of Equity) | See below | 13% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year HK Govt Bond Rate | 2% |
| Equity Risk Premium | S&P Global | 6.7% |
| Construction Unlevered Beta | Simply Wall St/ S&P Global | 1.04 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.039 (1 + (1- 25%) (118.86%)) |
1.646 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.65 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.646 * 6.65%) |
12.95% |
Discounted Cash Flow Calculation for SEHK:1271 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Grand Ming Group Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (HKD, Millions) | Source |
Present Value Discounted (@ 12.95%) |
|
|---|---|---|---|
| 2020 | 159.16 | Est @ 57.55% | 140.91 |
| 2021 | 224.23 | Est @ 40.88% | 175.76 |
| 2022 | 289.75 | Est @ 29.22% | 201.07 |
| 2023 | 350.75 | Est @ 21.05% | 215.50 |
| 2024 | 404.55 | Est @ 15.34% | 220.06 |
| 2025 | 450.42 | Est @ 11.34% | 216.92 |
| 2026 | 488.88 | Est @ 8.54% | 208.44 |
| 2027 | 521.03 | Est @ 6.58% | 196.68 |
| 2028 | 548.15 | Est @ 5.21% | 183.20 |
| 2029 | 571.42 | Est @ 4.24% | 169.08 |
| Present value of next 10 years cash flows | HK$1,927.62 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= HK$571.42 × (1 + 2%) ÷ (12.95% – 2%) |
HK$5,324.32 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= HK$5,324.32 ÷ (1 + 12.95%)10 |
HK$1,575.41 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= HK$1,927.62 + HK$1,575.41 |
HK$3,503.04 |
| Equity Value per Share (HKD) |
= Total value / Shares Outstanding
= HK$3,503.04 / 709.77 |
HK$4.94 |
| Calculation | Result | |
|---|---|---|
| Value per share (HKD) | From above. | HK$4.94 |
| Current discount | Discount to share price of
HK$4.75
= -1 x (HK$4.75 - HK$4.94) / HK$4.94 |
3.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Grand Ming Group Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Grand Ming Group 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 Grand Ming Group Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Grand Ming Group Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in HKD | HK$0.21 |
| SEHK:1271 Share Price ** | SEHK (2019-07-18) in HKD | HK$4.75 |
| Hong Kong Construction Industry PE Ratio | Median Figure of 105 Publicly-Listed Construction Companies | 10.17x |
| Hong Kong Market PE Ratio | Median Figure of 1,510 Publicly-Listed Companies | 10.82x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Grand Ming Group Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SEHK:1271 Share Price ÷ EPS (both in HKD) = 4.75 ÷ 0.21 |
22.63x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Grand Ming Group Holdings is overvalued based on earnings compared to the HK Construction industry average.
- Grand Ming Group Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does
Grand Ming Group Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 22.63x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
16.8%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 Grand Ming Group Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Grand Ming Group Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in HKD | HK$3.97 |
| SEHK:1271 Share Price * | SEHK (2019-07-18) in HKD | HK$4.75 |
| Hong Kong Construction Industry PB Ratio | Median Figure of 136 Publicly-Listed Construction Companies | 1.34x |
| Hong Kong Market PB Ratio | Median Figure of 2,197 Publicly-Listed Companies | 0.92x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SEHK:1271 Share Price ÷ Book Value per Share (both in HKD) = 4.75 ÷ 3.97 |
1.2x |
* Primary Listing of Grand Ming Group Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Grand Ming Group Holdings is good value based on assets compared to the HK Construction industry average.
Value checks
We assess Grand Ming Group Holdings's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check) Grand Ming Group Holdings has a total score of 1/6, 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.
1271 Future Performance
- No analysts cover Grand Ming Group 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!
Earnings growth vs Low Risk Savings
- Grand Ming Group Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
- Grand Ming Group Holdings's earnings growth is expected to exceed the Hong Kong market average.
- Unable to compare Grand Ming Group Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SEHK:1271 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts | 16.8% |
| Hong Kong Construction Industry Earnings Growth Rate | Market Cap Weighted Average | 11.9% |
| Hong Kong Construction Industry Revenue Growth Rate | Market Cap Weighted Average | 9.6% |
| Hong Kong Market Earnings Growth Rate | Market Cap Weighted Average | -5.2% |
| Hong Kong Market Revenue Growth Rate | Market Cap Weighted Average | 13.5% |
*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
| 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 |
| Date (Data in HKD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 613 | 107 | 149 |
| 2018-12-31 | 747 | -305 | 150 |
| 2018-09-30 | 881 | -717 | 152 |
| 2018-06-30 | 1,152 | -754 | 162 |
| 2018-03-31 | 1,424 | -792 | 172 |
| 2017-12-31 | 1,390 | -371 | 160 |
| 2017-09-30 | 1,356 | 50 | 149 |
| 2017-06-30 | 1,206 | -396 | 176 |
| 2017-03-31 | 1,056 | -842 | 203 |
| 2016-12-31 | 1,024 | -808 | 244 |
| 2016-09-30 | 993 | -773 | 285 |
| 2016-06-30 | 980 | -278 | 344 |
*GAAP earnings excluding extraordinary items.
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 Grand Ming Group Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in HKD Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.21 |
| 2018-12-31 | 0.21 |
| 2018-09-30 | 0.21 |
| 2018-06-30 | 0.23 |
| 2018-03-31 | 0.24 |
| 2017-12-31 | 0.23 |
| 2017-09-30 | 0.21 |
| 2017-06-30 | 0.25 |
| 2017-03-31 | 0.29 |
| 2016-12-31 | 0.34 |
| 2016-09-30 | 0.40 |
| 2016-06-30 | 0.48 |
*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 Grand Ming Group Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Grand Ming Group Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Grand Ming Group 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.
1271 Past Performance
How has Grand Ming Group 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
Past Earnings growth analysis
- Grand Ming Group Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- Grand Ming Group Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Grand Ming Group Holdings's 1-year earnings growth is negative, it can't be compared to the HK Construction industry average.
Earnings and Revenue History
All data from Grand Ming Group Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in HKD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 613.41 | 149.00 | 59.77 | |
| 2018-12-31 | 747.17 | 150.34 | 56.86 | |
| 2018-09-30 | 880.93 | 151.68 | 53.96 | |
| 2018-06-30 | 1,152.43 | 161.73 | 46.26 | |
| 2018-03-31 | 1,423.93 | 171.79 | 38.56 | |
| 2017-12-31 | 1,390.06 | 160.34 | 32.14 | |
| 2017-09-30 | 1,356.19 | 148.90 | 25.71 | |
| 2017-06-30 | 1,205.97 | 175.96 | 23.38 | |
| 2017-03-31 | 1,055.74 | 203.02 | 21.05 | |
| 2016-12-31 | 1,024.22 | 244.14 | 18.37 | |
| 2016-09-30 | 992.69 | 285.25 | 15.69 | |
| 2016-06-30 | 980.14 | 343.59 | 14.91 | |
| 2016-03-31 | 967.58 | 401.93 | 14.14 | |
| 2015-12-31 | 985.09 | 366.55 | 15.10 | |
| 2015-09-30 | 1,002.60 | 331.16 | 16.07 | |
| 2015-06-30 | 924.39 | 329.49 | 14.75 | |
| 2015-03-31 | 846.17 | 327.81 | 13.43 | |
| 2014-12-31 | 719.44 | 474.99 | 11.26 | |
| 2014-09-30 | 592.71 | 622.16 | 9.10 | |
| 2014-06-30 | 538.39 | 530.32 | 16.87 | |
| 2014-03-31 | 484.06 | 438.48 | 24.64 | |
| 2013-12-31 | 475.40 | 294.54 | 30.66 | |
| 2013-09-30 | 466.73 | 150.60 | 36.67 | |
| 2013-06-30 | 620.22 | 149.79 | 28.75 | |
| 2013-03-31 | 773.70 | 148.98 | 20.83 |
*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.
- Grand Ming Group Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Grand Ming Group Holdings used its assets less efficiently than the HK Construction industry average last year based on Return on Assets.
- Grand Ming Group Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Grand Ming Group Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Grand Ming Group 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.
1271 Health
How is Grand Ming Group 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 Grand Ming Group Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
- Grand Ming Group Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Grand Ming Group Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.6x 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.
All data from Grand Ming Group Holdings Company Filings, last reported 3 months ago.
| Date (Data in HKD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 2,814.52 | 3,990.53 | 123.29 |
| 2018-12-31 | 2,814.52 | 3,990.53 | 123.29 |
| 2018-09-30 | 2,785.67 | 3,865.32 | 108.90 |
| 2018-06-30 | 2,785.67 | 3,865.32 | 108.90 |
| 2018-03-31 | 2,765.10 | 3,585.69 | 365.75 |
| 2017-12-31 | 2,765.10 | 3,585.69 | 365.75 |
| 2017-09-30 | 2,673.29 | 3,086.57 | 831.67 |
| 2017-06-30 | 2,673.29 | 3,086.57 | 831.67 |
| 2017-03-31 | 2,634.95 | 2,638.17 | 445.35 |
| 2016-12-31 | 2,634.95 | 2,638.17 | 445.35 |
| 2016-09-30 | 2,574.38 | 2,258.38 | 105.95 |
| 2016-06-30 | 2,574.38 | 2,258.38 | 105.95 |
| 2016-03-31 | 2,473.73 | 1,078.79 | 137.19 |
| 2015-12-31 | 2,473.73 | 1,078.79 | 137.19 |
| 2015-09-30 | 2,341.42 | 1,096.99 | 168.01 |
| 2015-06-30 | 2,341.42 | 1,096.99 | 168.01 |
| 2015-03-31 | 2,119.91 | 1,080.25 | 147.68 |
| 2014-12-31 | 2,119.91 | 1,080.25 | 147.68 |
| 2014-09-30 | 2,047.52 | 923.72 | 242.63 |
| 2014-06-30 | 2,047.52 | 923.72 | 242.63 |
| 2014-03-31 | 1,820.43 | 836.15 | 217.42 |
| 2013-12-31 | 1,820.43 | 836.15 | 217.42 |
| 2013-09-30 | 1,449.50 | 879.74 | 237.51 |
| 2013-06-30 | 1,449.50 | 879.74 | 237.51 |
| 2013-03-31 | 1,290.40 | 865.32 | 64.33 |
- Grand Ming Group Holdings's level of debt (141.8%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (45.9% vs 141.8% today).
- Debt is not well covered by operating cash flow (2.7%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
Financial health checks
We assess Grand Ming Group Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Grand Ming Group Holdings has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
1271 Dividends
What is Grand Ming Group 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
If you bought
HK$2,000 of
Grand Ming Group Holdings
shares you are expected to receive
HK$41
in your first year as a dividend.
Dividend Amount
- Grand Ming Group Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
- Grand Ming Group Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.72%).
Upcoming dividend payment
Purchase Grand Ming Group Holdings before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| Hong Kong Construction Industry Average Dividend Yield | Market Cap Weighted Average of 43 Stocks | 3.9% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 978 Stocks | 3.6% |
| Hong Kong Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Hong Kong Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Hong Kong Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in HK$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-06-06 | 0.098 | 2.063 |
| 2018-07-26 | 0.116 | 2.373 |
| 2017-11-09 | 0.080 | 1.725 |
| 2017-06-26 | 0.073 | 1.551 |
| 2017-06-01 | 0.073 | 1.552 |
| 2016-07-28 | 0.063 | 1.479 |
| 2015-06-22 | 0.055 | 1.377 |
| 2015-06-02 | 0.055 | 1.308 |
| 2014-12-04 | 0.052 | 1.181 |
| 2014-11-18 | 0.052 | 1.253 |
| 2014-11-17 | 0.052 | 1.495 |
| 2014-08-13 | 0.052 | 2.015 |
| 2013-12-04 | 0.041 | 2.044 |
| 2013-11-18 | 0.041 | 3.097 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Grand Ming Group Holdings has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Grand Ming Group Holdings only paid a dividend in the past 6 years.
Income/ dividend checks
We assess Grand Ming Group Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Grand Ming Group Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Grand Ming Group Holdings has a total score of 1/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
1271 Management
CEO
| COMPENSATION | HK$2,565,000 |
| AGE | 54 |
CEO Bio
Mr. Chi Wah Lau serves as the Chief Executive Officer and Executive Director of Grand Ming Group Holdings Limited. Mr. Lau holds a Honour Diploma in Accountancy from the Lingnan College (now known as the Lingnan University) and Master's Degree in Professional Accounting from Hong Kong Polytechnic University. He is a fellow of the Hong Kong Institute of Certified Public Accountants (HKICPA).
CEO Compensation
- Chi's compensation has been consistent with company performance over the past year, both up more than 20%.
- Chi's remuneration is about average for companies of similar size in Hong Kong.
Management Team
Hung Ming Chan
Executive Chairman
HK$3M
65
Chi Lau
CEO & Executive Director
HK$3M
54
Wing Wo Kwan
CFO & Executive Director
HK$3M
51
Ying Wai Yuen
Executive Director
HK$3M
56
King Fung Ngan
Director of Sales & Marketing
52
Matthew Leung
Company Secretary
53
6 yrs
Board of Directors Tenure
Average tenure and age of the Grand Ming Group Holdings board of directors in years:
- The tenure for the Grand Ming Group Holdings board of directors is about average.
Board of Directors
Hung Ming Chan
Executive Chairman
HK$3M
65
Chi Lau
CEO & Executive Director
HK$3M
54
Wing Wo Kwan
CFO & Executive Director
HK$3M
51
Ying Wai Yuen
Executive Director
HK$3M
56
Bill Mok
Independent Non-Executive Director
HK$358K
58
6 yrs
Ka Tsui
Independent Non-Executive Director
HK$358K
66
6 yrs
Yau Kan
Independent Non-Executive Director
HK$358K
66
6 yrs
Johnny Lee
Independent Non-Executive Director
HK$358K
75
6 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | Value (HK$) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Grand Ming Group Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Grand Ming Group Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
1271 News
Simply Wall St News
Calculating The Intrinsic Value Of Grand Ming Group Holdings Limited (HKG:1271)
Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF (HK$, Millions) HK$159.2m HK$224.2m HK$289.7m HK$350.8m HK$404.6m HK$450.4m HK$488.9m HK$521.0m HK$548.2m HK$571.4m Growth Rate Estimate Source Est @ 57.55% Est @ 40.88% Est @ 29.22% Est @ 21.05% Est @ 15.34% Est @ 11.34% Est @ 8.54% Est @ 6.58% Est @ 5.21% Est @ 4.24% Present Value (HK$, Millions) Discounted @ 12.94% HK$140.9 HK$175.8 HK$201.1 HK$215.6 HK$220.1 HK$217.0 HK$208.5 HK$196.8 HK$183.3 HK$169.2 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= HK$1.9b After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 12.9%.
Simply Wall St - – Full articleWhy Grand Ming Group Holdings Limited’s (HKG:1271) Return On Capital Employed Looks Uninspiring
The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Grand Ming Group Holdings: 0.035 = HK$212m ÷ (HK$7.1b - HK$978m) (Based on the trailing twelve months to March 2019.) Therefore, Grand Ming Group Holdings has an ROCE of 3.5%. … Check out our latest analysis for Grand Ming Group Holdings Is Grand Ming Group Holdings's ROCE Good? … What Are Current Liabilities, And How Do They Affect Grand Ming Group Holdings's ROCE?
Simply Wall St - – Full articleShould Grand Ming Group Holdings Limited's (HKG:1271) Recent Earnings Decline Worry You?
See our latest analysis for Grand Ming Group Holdings How Did 1271's Recent Performance Stack Up Against Its Past? … Furthermore, its return on assets (ROA) of 2.9% is below the HK Construction industry of 5.7%, indicating Grand Ming Group Holdings's are utilized less efficiently. … And finally, its return on capital (ROC), which also accounts for Grand Ming Group Holdings’s debt level, has declined over the past 3 years from 4.7% to 3.5%.
Simply Wall St - – Full articleCan Grand Ming Group Holdings Limited (HKG:1271) Improve Its Returns?
Our data shows Grand Ming Group Holdings has a return on equity of 5.4% for the last year. … View our latest analysis for Grand Ming Group Holdings How Do I Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Grand Ming Group Holdings: 5.4% = HK$152m ÷ HK$2.8b (Based on the trailing twelve months to September 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated.
Simply Wall St - – Full articleHere's What Grand Ming Group Holdings Limited's (HKG:1271) P/E Is Telling Us
We'll apply a basic P/E ratio analysis to Grand Ming Group Holdings Limited's (HKG:1271), to help you decide if the stock is worth further research. … Looking at earnings over the last twelve months, Grand Ming Group Holdings has a P/E ratio of 22.84. … View our latest analysis for Grand Ming Group Holdings?
Simply Wall St - – Full articleSomething To Consider Before Buying Grand Ming Group Holdings Limited (HKG:1271) For The 2.4% Dividend
Is Grand Ming Group Holdings Limited (HKG:1271) a good dividend stock? … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … Investors might not know much about Grand Ming Group Holdings's dividend prospects, even though it has been paying dividends for the last five years and offers a 2.4% yield.
Simply Wall St - – Full articleIs Grand Ming Group Holdings Limited (HKG:1271) A Financially Sound Company?
Assessing first and foremost the financial health is. … since poor capital management may bring about bankruptcies, … Let's work through some financial health checks you may wish to consider if you're interested in this stock.
Simply Wall St - – Full articleShould You Worry About Grand Ming Group Holdings Limited's (HKG:1271) CEO Pay Cheque?
Chi Lau is the CEO of Grand Ming Group Holdings Limited (HKG:1271). … Check out our latest analysis for Grand Ming Group Holdings? … At the time of writing our data says that Grand Ming Group Holdings Limited has a market cap of HK$3.5b, and is paying total annual CEO compensation of HK$2.5m.
Simply Wall St - – Full articleCan You Imagine How Chuffed Grand Ming Group Holdings's Shareholders Feel About Its 175% Share Price Gain?
Long term Grand Ming Group Holdings Limited (HKG:1271) shareholders would be well aware of this, since the stock is up 175% in five years. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During five years of share price growth, Grand Ming Group Holdings actually saw its EPS drop 4.6% per year.
Simply Wall St - – Full articleShould Grand Ming Group Holdings Limited's (HKG:1271) Recent Earnings Worry You?
For investors with a long-term horizon, examining earnings trend over time and against industry peers is more insightful than looking at an earnings announcement in one point in time. … Investors may find my commentary, albeit very high-level and brief, on Grand Ming Group Holdings Limited (HKG:1271) useful as an attempt to give more color around how Grand Ming Group Holdings is currently performing. … See our latest analysis for Grand Ming Group Holdings?
Simply Wall St - – Full article1271 Company Info
Description
Grand Ming Group Holdings Limited, an investment holding company, engages in the building construction, property leasing, and property development businesses in Hong Kong. Its Construction segment constructs residential and commercial buildings, as well as data centers. The company’s Property Leasing segment is involved in the lease of data centers and office premises. Its Property Development segment develops and sells residential properties. The company was founded in 1995 and is headquartered in Kowloon, Hong Kong. Grand Ming Group Holdings Limited is a subsidiary of Chan HM Company Limited.
Details
| Name: | Grand Ming Group Holdings Limited |
| 1271 | |
| Exchange: | SEHK |
| Founded: | 1995 |
| HK$3,357,217,648 | |
| 709,771,173 | |
| Website: | http://www.grandming.com.hk |
| Address: |
Grand Ming Group Holdings Limited Railway Plaza, 22nd Floor, Kowloon, Kowloon, Hong Kong |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SEHK | 1271 | Ordinary Shares | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 09. Aug 2013 |
Number of employees
Current staff
Industry
| Construction and Engineering | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/18 13:00 |
| End of day share price update: | 2019/07/18 00:00 |
| Last earnings filing: | 2019/06/25 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2019/03/31 |
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.
