BOC Aviation
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BOC Aviation Limited, together with its subsidiaries, operates as an aircraft operating leasing company worldwide. The last earnings update was 11 days ago. More info.
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2588 Share Price and Events
7 Day Returns
1 Year Returns
2588 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| BOC Aviation (2588) | -4.2% | -12.4% | 6.3% | 32.1% | - | - |
| HK Trade Distributors | -0.7% | -2.7% | 10% | 0.3% | -45.3% | -52.6% |
| HK Market | 0.5% | 1.5% | 13.6% | -6.9% | 30.2% | 18.6% |
1 Year Return vs Industry and Market
- 2588 outperformed the Trade Distributors industry which returned 0.3% over the past year.
- 2588 outperformed the Market in Hong Kong which returned -6.9% over the past year.
Price Volatility
Related Companies
Value
Is BOC Aviation 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
BOC Aviation
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 BOC Aviation.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 9 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 13.9% |
| 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% |
| Trade Distributors Unlevered Beta | Simply Wall St/ S&P Global | 0.92 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.92 (1 + (1- 17%) (232.37%)) |
2.136 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
2 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (2 * 5.96%) |
13.92% |
Discounted Cash Flow Calculation for SEHK:2588 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for BOC Aviation 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 (USD, Millions) | Source |
Present Value Discounted (@ 13.92%) |
|
|---|---|---|---|
| 2019 | -1,498.00 | Analyst x1 | -1,314.92 |
| 2020 | -222.00 | Analyst x1 | -171.05 |
| 2021 | 247.00 | Analyst x1 | 167.06 |
| 2022 | 400.66 | Est @ 62.21% | 237.86 |
| 2023 | 577.54 | Est @ 44.15% | 300.97 |
| 2024 | 759.49 | Est @ 31.5% | 347.42 |
| 2025 | 931.55 | Est @ 22.65% | 374.05 |
| 2026 | 1,084.87 | Est @ 16.46% | 382.37 |
| 2027 | 1,216.38 | Est @ 12.12% | 376.33 |
| 2028 | 1,326.91 | Est @ 9.09% | 360.35 |
| Present value of next 10 years cash flows | $1,060.44 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $1,326.91 × (1 + 2%) ÷ (13.92% – 2%) |
$11,354.73 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $11,354.73 ÷ (1 + 13.92%)10 |
$3,083.63 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $1,060.44 + $3,083.63 |
$4,144.07 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $4,144.07 / 694.01 |
$5.97 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/HKD
(Reporting currency to currency of SEHK:2588) |
7.847 |
| Value per Share (HKD) |
= Value per Share in USD x Exchange Rate (USD/HKD)
= $5.97 x 7.847 |
HK$46.86 |
| Value per share (HKD) | From above. | HK$46.86 |
| Current discount | Discount to share price of
HK$60.35
= -1 x (HK$60.35 - HK$46.86) / HK$46.86 |
-28.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of BOC Aviation is above its future cash flow value.
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 BOC Aviation's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
BOC Aviation'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 (2018-12-31) in USD | $0.89 |
| SEHK:2588 Share Price ** | SEHK (2019-03-22) in HKD | HK$60.35 |
| SEHK:2588 Share Price converted to USD reporting currency | Exchange rate (HKD/ USD) 0.127 | $7.69 |
| Hong Kong Trade Distributors Industry PE Ratio | Median Figure of 32 Publicly-Listed Trade Distributors Companies | 8.55x |
| Hong Kong Market PE Ratio | Median Figure of 1,493 Publicly-Listed Companies | 10.96x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of BOC Aviation.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SEHK:2588 Share Price ÷ EPS (both in USD) = 7.69 ÷ 0.89 |
8.6x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- BOC Aviation is overvalued based on earnings compared to the HK Trade Distributors industry average.
- BOC Aviation is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does
BOC Aviation's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 8.6x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts |
10.6%per year |
| Global Trade Distributors Industry PEG Ratio | Median Figure of 78 Publicly-Listed Trade Distributors Companies | 1.19x |
| Hong Kong Market PEG Ratio | Median Figure of 471 Publicly-Listed Companies | 0.83x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 8.6x ÷ 10.6% |
0.81x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- BOC Aviation is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
BOC Aviation's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $6.05 |
| SEHK:2588 Share Price * | SEHK (2019-03-22) in HKD | HK$60.35 |
| SEHK:2588 Share Price converted to USD reporting currency | Exchange rate (HKD/ USD) 0.127 | $7.69 |
| Hong Kong Trade Distributors Industry PB Ratio | Median Figure of 58 Publicly-Listed Trade Distributors Companies | 0.99x |
| Hong Kong Market PB Ratio | Median Figure of 2,138 Publicly-Listed Companies | 0.99x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SEHK:2588 Share Price ÷ Book Value per Share (both in USD) = 7.69 ÷ 6.05 |
1.27x |
* Primary Listing of BOC Aviation.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- BOC Aviation is overvalued based on assets compared to the HK Trade Distributors industry average.
Value checks
We assess BOC Aviation'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check) BOC Aviation has a total score of 2/6, 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.
Future Performance
How is BOC Aviation expected to perform in the next 1 to 3 years based on estimates from 9 analysts?
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
- BOC Aviation's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
- BOC Aviation's earnings growth is positive but not above the Hong Kong market average.
- BOC Aviation's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SEHK:2588 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts | 10.6% |
| SEHK:2588 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts | 13.3% |
| Hong Kong Trade Distributors Industry Earnings Growth Rate | Market Cap Weighted Average | 11.7% |
| Asia Trade Distributors Industry Revenue Growth Rate | Market Cap Weighted Average | 16.4% |
| Hong Kong Market Earnings Growth Rate | Market Cap Weighted Average | 12.1% |
| Hong Kong Market Revenue Growth Rate | Market Cap Weighted Average | 9.8% |
*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 (2 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 2,426 | 2,215 | 864 | 5 |
| 2020-12-31 | 2,209 | 1,944 | 765 | 9 |
| 2019-12-31 | 1,950 | 1,744 | 690 | 9 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 1,623 | 1,723 | 620 |
| 2018-09-30 | 1,549 | 1,622 | 632 |
| 2018-06-30 | 1,474 | 1,522 | 644 |
| 2018-03-31 | 1,394 | 1,397 | 615 |
| 2017-12-31 | 1,313 | 1,271 | 587 |
| 2017-09-30 | 1,245 | 1,229 | 516 |
| 2017-06-30 | 1,176 | 1,186 | 446 |
| 2017-03-31 | 1,136 | 1,146 | 432 |
| 2016-12-31 | 1,096 | 1,106 | 418 |
| 2016-09-30 | 1,075 | 1,089 | 401 |
| 2016-06-30 | 1,053 | 1,072 | 384 |
| 2016-03-31 | 1,034 | 1,092 | 364 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
All data from BOC Aviation Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 1.25 | 1.33 | 1.19 | 4.00 |
| 2020-12-31 | 1.10 | 1.22 | 1.01 | 9.00 |
| 2019-12-31 | 0.99 | 1.08 | 0.95 | 9.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.89 |
| 2018-09-30 | 0.91 |
| 2018-06-30 | 0.93 |
| 2018-03-31 | 0.89 |
| 2017-12-31 | 0.85 |
| 2017-09-30 | 0.74 |
| 2017-06-30 | 0.64 |
| 2017-03-31 | 0.64 |
| 2016-12-31 | 0.64 |
| 2016-09-30 | 0.64 |
| 2016-06-30 | 0.64 |
| 2016-03-31 | 0.61 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess BOC Aviation'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 Asia 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)
BOC Aviation 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.
Past Performance
How has BOC Aviation 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
- BOC Aviation's year on year earnings growth rate has been positive over the past 5 years.
- BOC Aviation's 1-year earnings growth is less than its 5-year average (5.8% vs 19.2%)
- BOC Aviation's earnings growth has not exceeded the HK Trade Distributors industry average in the past year (5.8% vs 35%).
Earnings and Revenue History
All data from BOC Aviation Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 1,623.29 | 620.44 | 99.18 | |
| 2018-09-30 | 1,548.81 | 631.99 | 94.05 | |
| 2018-06-30 | 1,474.33 | 643.54 | 88.92 | |
| 2018-03-31 | 1,393.77 | 615.09 | 84.43 | |
| 2017-12-31 | 1,313.21 | 586.65 | 79.94 | |
| 2017-09-30 | 1,244.54 | 516.33 | 81.23 | |
| 2017-06-30 | 1,175.86 | 446.02 | 82.52 | |
| 2017-03-31 | 1,135.98 | 432.05 | 82.40 | |
| 2016-12-31 | 1,096.09 | 418.08 | 82.27 | |
| 2016-09-30 | 1,074.62 | 401.06 | 75.91 | |
| 2016-06-30 | 1,053.14 | 384.03 | 69.55 | |
| 2016-03-31 | 1,034.24 | 363.67 | 67.78 | |
| 2015-12-31 | 1,015.33 | 343.31 | 66.02 | |
| 2015-09-30 | 1,006.15 | 330.01 | 89.75 | |
| 2015-06-30 | 991.88 | 316.71 | 88.66 | |
| 2015-03-31 | 970.20 | 312.64 | 73.26 | |
| 2014-12-31 | 948.52 | 308.57 | 57.86 | |
| 2014-09-30 | 928.20 | 292.78 | 42.06 | |
| 2014-06-30 | 912.96 | 276.98 | 51.08 | |
| 2014-03-31 | 872.51 | 277.02 | 51.08 | |
| 2013-12-31 | 832.06 | 277.06 | 51.08 | |
| 2013-09-30 | 794.35 | 280.71 | 44.44 | |
| 2013-06-30 | 756.63 | 284.37 | 37.79 | |
| 2013-03-31 | 726.35 | 254.83 | 37.79 | |
| 2012-12-31 | 696.07 | 225.30 | 37.79 | |
| 2012-09-30 | 666.83 | 217.55 | 42.57 | |
| 2012-06-30 | 637.60 | 209.81 | 47.35 | |
| 2012-03-31 | 621.64 | 205.30 | 47.35 |
*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.
- BOC Aviation has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- BOC Aviation used its assets less efficiently than the HK Trade Distributors industry average last year based on Return on Assets.
- BOC Aviation has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess BOC Aviation'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 Trade Distributors 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)
BOC Aviation 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.
Health
How is BOC Aviation'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 BOC Aviation's finances.
The net worth of a company is the difference between its assets and liabilities.
- BOC Aviation's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- BOC Aviation'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 0x 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 BOC Aviation Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 4,199.03 | 12,402.48 | 246.17 |
| 2018-09-30 | 4,199.03 | 12,402.48 | 246.17 |
| 2018-06-30 | 3,988.20 | 11,604.32 | 411.28 |
| 2018-03-31 | 3,988.20 | 11,604.32 | 411.28 |
| 2017-12-31 | 3,818.76 | 10,840.96 | 305.90 |
| 2017-09-30 | 3,818.76 | 10,840.96 | 305.90 |
| 2017-06-30 | 3,536.52 | 9,510.01 | 332.54 |
| 2017-03-31 | 3,536.52 | 9,510.01 | 332.54 |
| 2016-12-31 | 3,382.17 | 8,719.15 | 559.15 |
| 2016-09-30 | 3,382.17 | 8,719.15 | 559.15 |
| 2016-06-30 | 3,200.00 | 9,200.48 | 1,587.14 |
| 2016-03-31 | 3,200.00 | 9,200.48 | 1,587.14 |
| 2015-12-31 | 2,439.72 | 8,835.23 | 507.55 |
| 2015-09-30 | 2,439.72 | 8,835.23 | 507.55 |
| 2015-06-30 | 2,267.88 | 8,572.44 | 375.77 |
| 2015-03-31 | 2,267.88 | 8,572.44 | 375.77 |
| 2014-12-31 | 2,096.41 | 8,325.40 | 368.40 |
| 2014-09-30 | 2,096.41 | 8,325.40 | 368.40 |
| 2014-06-30 | 1,951.17 | 7,858.15 | 304.37 |
| 2014-03-31 | 1,951.17 | 7,858.15 | 304.37 |
| 2013-12-31 | 1,926.63 | 7,325.44 | 539.68 |
| 2013-09-30 | 1,926.63 | 7,325.44 | 539.68 |
| 2013-06-30 | 1,812.21 | 7,171.44 | 340.49 |
| 2013-03-31 | 1,812.21 | 7,171.44 | 340.49 |
| 2012-12-31 | 1,761.06 | 6,451.02 | 675.09 |
| 2012-09-30 | 1,761.06 | 6,451.02 | 675.09 |
| 2012-06-30 | 1,639.62 | 5,760.43 | 313.61 |
| 2012-03-31 | 1,639.62 | 5,760.43 | 313.61 |
- BOC Aviation's level of debt (295.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (380.5% vs 295.4% today).
- Debt is not well covered by operating cash flow (13.9%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.6x annual interest expense, ideally 3x coverage).
Financial health checks
We assess BOC Aviation'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) BOC Aviation has a total score of 1/6, 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.
Dividends
What is BOC Aviation'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
BOC Aviation
shares you are expected to receive
HK$81
in your first year as a dividend.
Dividend Amount
- BOC Aviation's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.02%).
- BOC Aviation's dividend is below the markets top 25% of dividend payers in Hong Kong (5.33%).
Upcoming dividend payment
Purchase BOC Aviation on or 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 9 Analyst Estimates (S&P Global) | See Below |
| Hong Kong Trade Distributors Industry Average Dividend Yield | Market Cap Weighted Average of 13 Stocks | 4% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 931 Stocks | 3.5% |
| Hong Kong Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Hong Kong Bottom 25% Dividend Yield | 25th Percentile | 2% |
| 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.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.43 | 5.00 |
| 2020-12-31 | 0.39 | 9.00 |
| 2019-12-31 | 0.35 | 9.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-13 | 0.313 | 3.970 |
| 2018-04-24 | 0.296 | 4.185 |
| 2017-05-31 | 0.238 | 4.405 |
| 2016-09-28 | 0.122 | 2.336 |
| 2016-06-01 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, BOC Aviation has been paying a dividend for less than 10 years.
- Dividend payments have increased, but BOC Aviation only paid a dividend in the past 2 years.
Income/ dividend checks
We assess BOC Aviation's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - 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 BOC Aviation afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) BOC Aviation 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.
Management
CEO
| COMPENSATION | $6,199,000 |
| AGE | 53 |
| TENURE AS CEO | 15.2 years |
CEO Bio
Mr. Robert James Martin has been the Chief Executive Officer and Managing Director of BOC Aviation Pte. Ltd since 2004 and July 5, 1998 respectively. Mr. Martin has been an Executive Director of BOC Aviation Pte. Ltd. since July 5, 1998. He joined Singapore Aircraft Leasing Enterprise (SALE) in January 1998. He began his career in aircraft financing in London in 1987, with the Bank of America. He subsequently held senior positions in both London and Singapore with the Long-Term Credit Bank of Japan (LTCB), before moving to HSBC Investment Bank in Hong Kong as Aircraft Finance Director. Mr. Martin holds an M.A. in Economics from Cambridge University.
CEO Compensation
- Robert's compensation has been consistent with company performance over the past year.
- Robert's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure
Average tenure and age of the BOC Aviation management team in years:
- The average tenure for the BOC Aviation management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Robert Martin
MD, CEO & Executive Director
$6M
53
15.2 yrs
Jian Wang
Vice Chairman & Deputy MD
$574K
58
1.8 yrs
Thim Phang
Deputy MD & CFO
61
23.2 yrs
Dave Walton
Chief Operating Officer
57
4.3 yrs
Ng Felicia
Chief Accounting Officer
52
Timothy Ross
Head of Investor Relations
Jonathan Mahony
General Counsel
49
16.6 yrs
Steven Townend
Chief Commercial Officer of Europe-Americas & Africa
49
14.7 yrs
David Farrell
Head of Risk Management
John Bloemen
Head of Airline Leasing & Sales - Asia Pacific Middle East
Board of Directors Tenure
Average tenure and age of the BOC Aviation board of directors in years:
- The average tenure for the BOC Aviation board of directors is less than 3 years, this suggests a new board.
Board of Directors
Yu Sun
Non-Executive Chairman
45
0.1 yrs
Robert Martin
MD, CEO & Executive Director
$6M
53
20.7 yrs
Jian Wang
Vice Chairman & Deputy MD
$574K
58
1.8 yrs
Shula Fu
Independent Non-Executive Director
$77K
62
8.1 yrs
Deming Dai
Independent Non-Executive Director
$77K
56
2.8 yrs
Tony Tyler
Independent Non-Executive Director
$180K
62
2.8 yrs
Chenggang Liu
Non-Executive Director
45
2.5 yrs
Lin Zhu
Non-Executive Director
44
5.2 yrs
Mang Li
Non-Executive Director
50
3.3 yrs
Bernard Yeung
Independent Non-Executive Director
$45K
65
2.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | Value (HK$) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess BOC Aviation'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) BOC Aviation 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.
News
Simply Wall St News
BOC Aviation Limited (HKG:2588): Is Growth Priced In?
BOC Aviation Limited (HKG:2588) is considered a high-growth stock, but its last closing price of HK$63 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … What can we expect from BOC Aviation in the future. … Analysts are predicting good growth prospects for BOC Aviation over the next couple of years
Simply Wall St - – Full articleUpdate: BOC Aviation Stock Gained 56% In The Last Year
For example, the BOC Aviation Limited (HKG:2588) share price is up 56% in the last year, clearly besting than the market return of around -7.3% (not including dividends). … In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
Simply Wall St - – Full articleEvaluating BOC Aviation Limited’s (HKG:2588) Investments In Its Business
Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.
Simply Wall St - – Full articleCould The BOC Aviation Limited (HKG:2588) Ownership Structure Tell Us Something Useful?
The big shareholder groups in BOC Aviation Limited (HKG:2588) have power over the company. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Our analysis of the ownership of the company, below, shows that.
Simply Wall St - – Full articleBoasting A 16% Return On Equity, Is BOC Aviation Limited (HKG:2588) A Top Quality Stock?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each HK$1 of shareholders' equity it has, the company made HK$0.16 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleRead This Before You Buy BOC Aviation Limited (HKG:2588) Because Of Its P/E Ratio
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) … P/E of 7.99 = $7.41 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.93
Simply Wall St - – Full articleDid BOC Aviation Limited (HKG:2588) Create Value For Shareholders?
This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … View our latest analysis for BOC Aviation
Simply Wall St - – Full articleIs BOC Aviation Limited (HKG:2588) Potentially Underrated?
BOC Aviation Limited (HKG:2588) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … Below, I've touched on some key aspects you should know on a high level
Simply Wall St - – Full articleCompany Info
Description
BOC Aviation Limited, together with its subsidiaries, operates as an aircraft operating leasing company worldwide. The company offers a range of services to airlines and aircraft owners, including direct operating leases, sale and leaseback facilities, and third party asset management. It also provides aircraft remarketing, structured finance, and technical management services to airlines, banks, and other investors. In addition, the company arranges debt financing and other financial services for airlines; and sells aircrafts. As of December 31, 2018, it had a fleet of 511 owned, managed, or on order aircraft. The company was founded in 1993 and is headquartered in Singapore. BOC Aviation Limited is a subsidiary of Sky Splendor Limited.
Details
| Name: | BOC Aviation Limited |
| 2588 | |
| Exchange: | SEHK |
| Founded: | 1993 |
| HK$41,883,523,656 | |
| 694,010,334 | |
| Website: | http://www.bocaviation.com |
| Address: |
BOC Aviation Limited No. 18-01, 8 Shenton Way, Singapore, 068811, Singapore |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SEHK | 2588 | Ordinary Shares | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 01. Jun 2016 | |
| OTCPK | BCVV.F | Ordinary Shares | Pink Sheets LLC | US | USD | 01. Jun 2016 | |
| DB | 8BO | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 01. Jun 2016 | |
| SHSC | 2588 | Ordinary Shares | Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect | HK | HKD | 01. Jun 2016 | |
| SZSC | 2588 | Ordinary Shares | The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect | HK | HKD | 01. Jun 2016 |
Number of employees
Current staff
Industry
| Trading Companies and Distributors | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/24 12:56 |
| End of day share price update: | 2019/03/22 00:00 |
| Last estimates confirmation: | 2019/03/19 |
| Last earnings filing: | 2019/03/13 |
| 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.
