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Fosun International

SEHK:656
Snowflake Description

Established dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
656
SEHK
HK$91B
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Fosun International Limited creates customer-to-maker ecosystems in health, happiness, and wealth sectors in Mainland China, Portugal, and internationally. The last earnings update was 81 days ago. More info.


Add to Portfolio Compare Print
  • Fosun International has significant price volatility in the past 3 months.
656 Share Price and Events
7 Day Returns
2.7%
SEHK:656
-1%
HK Industrials
0.6%
HK Market
1 Year Returns
-27%
SEHK:656
-6.4%
HK Industrials
-5.9%
HK Market
656 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fosun International (656) 2.7% 6.8% -17.9% -27% 3.5% 3.7%
HK Industrials -1% 1.9% -9.2% -6.4% -5.2% -28.9%
HK Market 0.6% 3.7% -8.2% -5.9% 17.2% 4.8%
1 Year Return vs Industry and Market
  • 656 underperformed the Industrials industry which returned -6.4% over the past year.
  • 656 underperformed the Market in Hong Kong which returned -5.9% over the past year.
Price Volatility
656
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Fosun International's competitors could be found in our database.

656 Value

 Is Fosun International 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 Fosun International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Fosun International.

SEHK:656 Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for SEHK:656
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Industrials Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.887 (1 + (1- 25%) (241.26%))
2
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:656 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Fosun International 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.

SEHK:656 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 13.92%)
2020 3,182.00 Analyst x1 2,793.11
2021 1,406.77 Est @ -55.79% 1,083.93
2022 865.84 Est @ -38.45% 585.60
2023 637.99 Est @ -26.32% 378.76
2024 524.30 Est @ -17.82% 273.23
2025 462.05 Est @ -11.87% 211.36
2026 426.42 Est @ -7.71% 171.22
2027 405.97 Est @ -4.8% 143.09
2028 394.78 Est @ -2.76% 122.14
2029 389.54 Est @ -1.33% 105.79
Present value of next 10 years cash flows CN¥5,868.23
SEHK:656 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥389.54 × (1 + 2%) ÷ (13.92% – 2%)
CN¥3,333.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥3,333.38 ÷ (1 + 13.92%)10
CN¥905.25
SEHK:656 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥5,868.23 + CN¥905.25
CN¥6,773.48
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥6,773.48 / 8,542.65
CN¥0.79
SEHK:656 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:656)
1.138
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.79 x 1.138
HK$0.9
Value per share (HKD) From above. HK$0.90
Current discount Discount to share price of HK$10.58
= -1 x (HK$10.58 - HK$0.90) / HK$0.90
-1072.5%

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

  • The current share price of Fosun International is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Fosun International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fosun International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:656 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥1.57
SEHK:656 Share Price ** SEHK (2019-07-16) in HKD HK$10.58
SEHK:656 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥9.3
Hong Kong Industrials Industry PE Ratio Median Figure of 12 Publicly-Listed Industrials Companies 6.9x
Hong Kong Market PE Ratio Median Figure of 1,503 Publicly-Listed Companies 10.71x

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

** Primary Listing of Fosun International.

SEHK:656 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:656 Share Price ÷ EPS (both in CNY)

= 9.3 ÷ 1.57

5.94x

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

  • Fosun International is good value based on earnings compared to the HK Industrials industry average.
  • Fosun International is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Fosun International's expected growth come at a high price?
Raw Data
SEHK:656 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
7.9%per year
Hong Kong Industrials Industry PEG Ratio Median Figure of 6 Publicly-Listed Industrials Companies 1.07x
Hong Kong Market PEG Ratio Median Figure of 477 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:656 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.94x ÷ 7.9%

0.75x

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

  • Fosun International is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Fosun International's assets?
Raw Data
SEHK:656 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥12.70
SEHK:656 Share Price * SEHK (2019-07-16) in HKD HK$10.58
SEHK:656 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥9.3
Hong Kong Industrials Industry PB Ratio Median Figure of 14 Publicly-Listed Industrials Companies 0.6x
Hong Kong Market PB Ratio Median Figure of 2,190 Publicly-Listed Companies 0.92x
SEHK:656 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:656 Share Price ÷ Book Value per Share (both in CNY)

= 9.3 ÷ 12.70

0.73x

* Primary Listing of Fosun International.

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

  • Fosun International is overvalued based on assets compared to the HK Industrials industry average.
X
Value checks
We assess Fosun International'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 Industrials 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 Industrials industry average (and greater than 0)? (1 check)
  5. Fosun International has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

656 Future Performance

 How is Fosun International 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!
Annual Growth Rate
7.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fosun International expected to grow at an attractive rate?
  • Fosun International's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Fosun International's earnings growth is positive but not above the Hong Kong market average.
  • Fosun International's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:656 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:656 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 7.9%
SEHK:656 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 11.7%
Hong Kong Industrials Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
Hong Kong Industrials Industry Revenue Growth Rate Market Cap Weighted Average 7.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*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
Raw Data
SEHK:656 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:656 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 159,217 16,823 4
2020-12-31 133,713 13,942 16,300 9
2019-12-31 117,774 13,282 15,115 9
SEHK:656 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 109,352 13,302 13,403
2018-09-30 102,308 19,505 13,778
2018-06-30 95,264 25,708 14,153
2018-03-31 91,645 28,081 13,656
2017-12-31 88,025 30,453 13,159
2017-09-30 82,880 23,812 12,450
2017-06-30 77,734 17,172 11,740
2017-03-31 75,850 14,587 11,003
2016-12-31 73,967 12,003 10,267
2016-09-30 77,765 5,118 9,538
2016-06-30 81,563 -1,767 8,810
2016-03-31 80,180 -2,593 8,424

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fosun International's earnings are expected to grow by 7.9% yearly, however this is not considered high growth (20% yearly).
  • Fosun International's revenue is expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).
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:656 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 9 Analyst Estimates (S&P Global) See Below

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

SEHK:656 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.96 2.31 1.67 4.00
2020-12-31 1.93 2.21 1.56 8.00
2019-12-31 1.79 2.03 1.56 8.00
SEHK:656 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 1.57
2018-09-30 1.61
2018-06-30 1.65
2018-03-31 1.59
2017-12-31 1.53
2017-09-30 1.45
2017-06-30 1.37
2017-03-31 1.28
2016-12-31 1.19
2016-09-30 1.13
2016-06-30 1.06
2016-03-31 1.06

*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.
  • Fosun International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Fosun International'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.
Fosun International 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.

656 Past Performance

  How has Fosun International 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 Fosun International's growth in the last year to its industry (Industrials).
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.
  • Fosun International's year on year earnings growth rate has been positive over the past 5 years.
  • Fosun International's 1-year earnings growth is less than its 5-year average (1.9% vs 19.3%)
  • Fosun International's earnings growth has not exceeded the HK Industrials industry average in the past year (1.9% vs 8.8%).
Earnings and Revenue History
Fosun International'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 Fosun International Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:656 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 109,351.64 13,403.21 36,009.77
2018-09-30 102,307.90 13,778.35 32,672.44
2018-06-30 95,264.17 14,153.50 29,335.11
2018-03-31 91,644.67 13,656.45 27,987.95
2017-12-31 88,025.17 13,159.40 26,640.79
2017-09-30 82,879.76 12,449.76 25,750.30
2017-06-30 77,734.34 11,740.11 24,859.80
2017-03-31 75,850.45 11,003.44 24,116.31
2016-12-31 73,966.56 10,266.76 23,372.82
2016-09-30 77,764.71 9,538.25 21,791.88
2016-06-30 81,562.85 8,809.74 20,210.93
2016-03-31 80,179.87 8,423.70 18,329.10
2015-12-31 78,796.89 8,037.67 16,447.26
2015-09-30 72,739.24 8,337.46 15,364.08
2015-06-30 66,681.59 8,637.25 14,280.90
2015-03-31 64,210.02 7,745.60 12,815.15
2014-12-31 61,738.45 6,853.94 11,349.41
2014-09-30 56,790.31 6,257.60 9,651.96
2014-06-30 51,842.17 5,661.25 7,954.51
2014-03-31 51,429.53 5,590.09 7,281.11
2013-12-31 51,016.88 5,518.93 6,607.71
2013-09-30 50,510.74 4,683.78 6,356.63
2013-06-30 50,004.59 3,848.62 6,105.55
2013-03-31 50,884.67 3,777.91 5,941.85
2012-12-31 51,764.75 3,707.20 5,778.16
2012-09-30 54,371.45 2,630.90 5,577.13

*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.
  • Fosun International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Fosun International used its assets less efficiently than the HK Industrials industry average last year based on Return on Assets.
  • Fosun International has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Fosun International'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 Industrials 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.
Fosun International 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.

656 Health

 How is Fosun International'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 Fosun International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fosun International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Fosun International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Fosun International'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x 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 Fosun International Company Filings, last reported 6 months ago.

SEHK:656 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 160,441.02 192,126.41 164,845.31
2018-09-30 160,441.02 192,126.41 164,845.31
2018-06-30 137,182.69 165,122.78 137,169.76
2018-03-31 137,182.69 165,122.78 137,169.76
2017-12-31 136,412.28 153,424.46 124,056.62
2017-09-30 136,412.28 153,424.46 124,056.62
2017-06-30 133,053.30 143,025.31 112,350.71
2017-03-31 133,053.30 143,025.31 112,350.71
2016-12-31 122,873.83 129,667.46 82,031.46
2016-09-30 122,873.83 129,667.46 82,031.46
2016-06-30 108,763.59 119,171.60 72,617.55
2016-03-31 108,763.59 119,171.60 72,617.55
2015-12-31 99,553.14 117,170.73 76,379.07
2015-09-30 99,553.14 117,170.73 76,379.07
2015-06-30 94,253.41 96,999.63 66,981.64
2015-03-31 94,253.41 96,999.63 66,981.64
2014-12-31 75,684.49 97,762.54 68,524.21
2014-09-30 75,684.49 97,762.54 68,524.21
2014-06-30 67,372.52 91,056.11 119,306.74
2014-03-31 67,372.52 91,056.11 119,306.74
2013-12-31 61,299.83 71,959.68 28,499.28
2013-09-30 61,299.83 71,959.68 28,499.28
2013-06-30 58,407.46 65,039.55 30,205.78
2013-03-31 58,407.46 65,039.55 30,205.78
2012-12-31 57,218.40 57,258.60 33,556.06
2012-09-30 57,218.40 57,258.60 33,556.06
  • Fosun International's level of debt (120.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (117.8% vs 120.1% today).
  • Debt is not well covered by operating cash flow (6.9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Fosun International'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. Fosun International has a total score of 2/6, 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.

656 Dividends

 What is Fosun International'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
3.39%
Current annual income from Fosun International dividends. Estimated to be 4.06% next year.
If you bought HK$2,000 of Fosun International shares you are expected to receive HK$68 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?
  • Fosun International's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Fosun International's dividend is below the markets top 25% of dividend payers in Hong Kong (5.74%).
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:656 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 9 Analyst Estimates (S&P Global) See Below
Hong Kong Industrials Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 4%
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.

SEHK:656 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.39 4.00
2020-12-31 0.39 9.00
2019-12-31 0.36 8.00
SEHK:656 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-26 0.315 3.327
2018-04-26 0.282 2.645
2018-03-27 0.279 2.033
2017-04-20 0.168 1.430
2017-03-28 0.186 1.798
2016-04-28 0.142 1.524
2016-03-30 0.141 1.530
2015-03-25 0.136 1.221
2014-04-14 0.118 1.493
2014-03-25 0.120 1.558
2013-04-17 0.132 2.554
2013-03-26 0.135 3.285
2012-03-27 0.126 3.646
2011-03-28 0.138 3.424
2010-03-24 0.138 2.797
2009-03-11 0.070 1.699

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Fosun International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.2x coverage).
X
Income/ dividend checks
We assess Fosun International'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 Fosun International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fosun International has a total score of 5/6, see the detailed checks below.


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

656 Management

 What is the CEO of Fosun International'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
Qunbin Wang
COMPENSATION CN¥10,359,000
AGE 49
TENURE AS CEO 2.3 years
CEO Bio

Mr. Qunbin Wang founded Fosun International Limited and also has been its Chief Executive Officer since March 28, 2017 and Executive Director since November 1994. Mr. Wang founded Fosun Group in November 1994 and serves as its President. He served as the President of Fosun International Limited from January 2009 to March 28, 2017. He served as the Chief Executive Officer of Shanghai FOSUN Pharmaceutical (Group) Co., Ltd. from 1994 to June 28, 2013. He serves as the Chairman of Shanghai Forte Land Co., Ltd., Forte and Fosun Group. He served as the Chairman and Director of Fosun Industrial (Hong Kong) Co., Ltd. (Also known as Fosun Industrial Co., Ltd.). He served as the Chairman of the Board of Peak Reinsurance Co. Ltd. until July 27, 2018. He served as Vice Chairman of Sinopharm Group Co. Ltd. from May 31, 2010 to November 8, 2013. He serves as a Director of Shanghai Yuyuan Tourist Mart Co., Ltd. He has been a Director of Fosun Group since its establishment in November 1994. He has been a Director of Ironshore Inc since 2015. He served as a Non-Executive Director of Shanghai FOSUN Pharmaceutical (Group) Co., Ltd. since May 31, 1995 until June 25, 2019 and served as Non-Executive Director of Sinopharm Group Co. Ltd. from January 16, 2003 until March 22, 2019. He has been a Director of Fosun High Technology since its establishment in November 1994. He serves as a Director of Fidelidade Assistencia Companhia de Seguros, S.A., Nanjing Nangang Iron & Steel United Co.,Ltd., Fidelidade, Multicare, Cares and Henan Lingrui Pharmaceutical Co., Ltd. He served as a Director of Shanghai Bailian (Group) Co., Ltd. He served as a Director of Shanghai Friendship Group Incorporated Company. He served as a Non-Executive Director of Roc Oil Company Limited from November 10, 2014 to December 2, 2016. He serves as Honorary President of Shanghai Biomedical Industry Association. He serves as President of Shanghai Huzhou Chamber of Commerce. He serves as Vice President of China International Chamber of Commerce. He was a Lecturer at the Genetic Research Institute of Fudan University. He holds various positions including Honorary Chairman of the Shanghai BioPharmaceutics Industry Association, Honorary Chairman of The Huzhou Chamber of Commerce in Shanghai and Vice Chairman of China Chamber of International Commerce. He was named one of The Best-Performing Chief Executive Officers in the World by Harvard Business Review, Young Global Leader Honoree 2009 of World Economic Forum, Chinese Pharmaceutical 60 Years, 60 People, Top Ten Professional Managers in China Pharmaceutical Industry in 2004, The Fourth Session Technology Innovation Prize of China Outstanding Youth and Outstanding Technical Experts Allowance by State Council. He was listed in the “Hot 100 List in 2016” by the American insurance magazine Insurance Business , awarded “Asia Pacific Outstanding Entrepreneur Awards” issued by Enterprise Asia in 2014 and “Best Asian Corporate Director” at the Asian Excellence Recognition Awards 2014 by Corporate Governance Asia, and was named one of “China’s 50 Top-performing Corporate Leaders” by Harvard Business Review. Mr. Wang received a BS in Genetic Engineering from Fudan University in 1991.

CEO Compensation
  • Qunbin's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Qunbin's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Fosun International management team in years:

2.3
Average Tenure
47.5
Average Age
  • The tenure for the Fosun International management team is about average.
Management Team

Guangchang Guo

TITLE
Chairman of the Board
COMPENSATION
CN¥11M
AGE
52

Qunbin Wang

TITLE
CEO & Executive Director
COMPENSATION
CN¥10M
AGE
49
TENURE
2.3 yrs

Qiyu Chen

TITLE
Co-President & Executive Director
COMPENSATION
CN¥25M
AGE
47
TENURE
2.3 yrs

Xiaoliang Xu

TITLE
Co-President & Executive Director
COMPENSATION
CN¥25M
AGE
46
TENURE
2.3 yrs

Xuetang Qin

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥20M
AGE
56
TENURE
10.3 yrs

Robin Wang

TITLE
Chief Growth Officer
COMPENSATION
CN¥17M
AGE
40
TENURE
0.3 yrs

Alex Gong

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥17M
AGE
44
TENURE
2.3 yrs

Linnan Xue

TITLE
Chief Financial Officer
AGE
46
TENURE
0.3 yrs

Patrick Zhong

TITLE
Head of Global Investments
AGE
48

Donghui Pan

TITLE
Senior Vice President
AGE
49
Board of Directors Tenure

Average tenure and age of the Fosun International board of directors in years:

8.3
Average Tenure
49.5
Average Age
  • The tenure for the Fosun International board of directors is about average.
Board of Directors

Guangchang Guo

TITLE
Chairman of the Board
COMPENSATION
CN¥11M
AGE
52
TENURE
24.7 yrs

Qunbin Wang

TITLE
CEO & Executive Director
COMPENSATION
CN¥10M
AGE
49
TENURE
24.7 yrs

Qiyu Chen

TITLE
Co-President & Executive Director
COMPENSATION
CN¥25M
AGE
47
TENURE
4 yrs

Xiaoliang Xu

TITLE
Co-President & Executive Director
COMPENSATION
CN¥25M
AGE
46
TENURE
4 yrs

Xuetang Qin

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥20M
AGE
56
TENURE
24.5 yrs

Robin Wang

TITLE
Chief Growth Officer
COMPENSATION
CN¥17M
AGE
40
TENURE
2.3 yrs

Alex Gong

TITLE
Senior VP & Executive Director
COMPENSATION
CN¥17M
AGE
44
TENURE
2.3 yrs

Fang Yao

TITLE
Co-Chairman of the Board of Shanghai Fosun Pharmaceutical Group
AGE
50

Yixin Huang

TITLE
Chairman of Nanjing Iron & Steel Group Corp & Nanjing Iron & Steel Co Ltd
AGE
54

Sheng Man Zhang

TITLE
Independent Non-Executive Director
AGE
62
TENURE
12.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Fosun International individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
19. Jun 19 Buy Sheng Man Zhang Individual 17. Jun 19 17. Jun 19 50,000 HK$9.90 HK$495,000
14. Jun 19 Buy Sheng Man Zhang Individual 12. Jun 19 12. Jun 19 100,000 HK$10.00 HK$1,000,000
28. May 19 Buy Sheng Man Zhang Individual 18. Apr 19 18. Apr 19 50,000 HK$12.80 HK$640,000
28. May 19 Buy Sheng Man Zhang Individual 17. Apr 19 17. Apr 19 50,000 HK$12.80 HK$640,000
30. Apr 19 Buy Sheng Man Zhang Individual 25. Apr 19 25. Apr 19 100,000 HK$12.44 HK$1,243,600
15. Apr 19 Buy Sheng Man Zhang Individual 10. Apr 19 10. Apr 19 20,000 HK$13.18 HK$263,600
15. Apr 19 Buy Sheng Man Zhang Individual 11. Apr 19 11. Apr 19 80,000 HK$13.06 HK$1,044,800
31. Oct 18 Buy Ping Gong Individual 26. Oct 18 26. Oct 18 100,000 HK$11.58 HK$1,158,000
31. Oct 18 Buy Huaqiao Zhang Individual 29. Oct 18 29. Oct 18 300,000 HK$11.32 HK$3,396,721
X
Management checks
We assess Fosun International'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. Fosun International 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.

656 News

Simply Wall St News

Does Fosun International Limited's (HKG:656) P/E Ratio Signal A Buying Opportunity?

Check out our latest analysis for Fosun International How Do I Calculate Fosun International's Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) Or for Fosun International: P/E of 5.86 = CN¥9.18 (Note: this is the share price in the reporting currency, namely, CNY ) ÷ CN¥1.57 (Based on the trailing twelve months to December 2018.) Is A High P/E Ratio Good? … All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Does Fosun International's P/E Ratio Compare To Its Peers?

Simply Wall St -

Is It Smart To Buy Fosun International Limited (HKG:656) Before It Goes Ex-Dividend?

As a result, readers should always check whether Fosun International has been able to grow its dividends, or if the dividend might be cut. … Check out our latest analysis for Fosun International Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. … We love that Fosun International is growing earnings per share while simultaneously paying out a low percentage of both its earnings and cash flow.

Simply Wall St -

What Do Analysts Think About Fosun International Limited's (HKG:656) Earnings Trend?

Fosun International Limited's (HKG:656) latest earnings update in December 2018 confirmed that the business gained from a slight tailwind, leading to a single-digit earnings growth of 1.9%. … Below, I've presented key growth figures on how market analysts perceive Fosun International's earnings growth trajectory over the next few years and whether the future looks even brighter than the past. … View our latest analysis for Fosun International Analysts' outlook for the upcoming year seems positive, with earnings expanding by a robust 12%.

Simply Wall St -

Have Insiders Been Buying Fosun International Limited (HKG:656) Shares?

So before you buy or sell Fosun International Limited (HKG:656), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

Simply Wall St -

Are Fosun International Limited's (HKG:656) Interest Costs Too High?

The size of Fosun International Limited (HKG:656), a HK$105b large-cap, often attracts investors seeking a reliable investment in the stock market. … Today we will look at Fosun International’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis

Simply Wall St -

What Kind Of Shareholders Own Fosun International Limited (HKG:656)?

If you want to know who really controls Fosun International Limited (HKG:656), then you'll have to look at the makeup of its share registry. … With a market capitalization of HK$109b, Fosun International is rather large. … View our latest analysis for Fosun International

Simply Wall St -

What Should We Expect From Fosun International Limited's (HKG:656) Earnings Over The Next Year?

On 31 December 2018, Fosun International Limited (HKG:656) released its earnings update. … analyst consensus outlook appear cautiously subdued, … the higher past 5-year average growth rate of 19%.

Simply Wall St -

Did Fosun International's (HKG:656) Share Price Deserve to Gain 37%?

For example, the Fosun International Limited (HKG:656) share price is up 37% in the last 5 years, clearly besting than the market return of around 21% (ignoring dividends). … 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. … Over half a decade, Fosun International managed to grow its earnings per share at 22% a year.

Simply Wall St -

What Is Fosun International Limited's (HKG:656) Share Price Doing?

led the SEHK gainers with a relatively large price hike in the past couple of weeks. … With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price … However, could the stock still be trading at a relatively cheap price?

Simply Wall St -

Fosun International Limited (HKG:656) Is Trading At A 49.95% Discount

Help shape the future of investing tools and receive a $20 prize! … by estimating the company's future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Simply Wall St -

656 Company Info

Description

Fosun International Limited creates customer-to-maker ecosystems in health, happiness, and wealth sectors in Mainland China, Portugal, and internationally. It operates through Health Ecosystem, Happiness Ecosystem, Insurance, Finance, and Investment segments. The company provides life, property, health, and casualty insurance, as well as reinsurance products; insurance administration services; financial services, such as private banking, asset management, and investment banking services; custodian banking services and capital market services; and equity investment and management services. It is also involved in the research and development, manufacturing, sale, and trading of pharmaceutical and health products; and provision medical services and health management activities; and operation of private hospitals, national health service hospitals, private ambulatory clinics, and senior residences. In addition, the company operates in the medical, illness, disability income, health care, and accident insurance markets; offers hand-made baby prams, travel accessories, safety seats, and furniture; and researches, develops, manufactures, and sells vegetable spreads, vegetable yogurts, vegetable drinks, and desserts. Further, it manufactures beauty and wellness products; and provides oil and gas exploration, mining and ore processing, tourism, and retail services. Additionally, the company is involved in the development and operation of real estate properties; manufacture and sale of iron and steel products; and production of lightweight parts for the automotive industry. Fosun International Limited has strategic agreements with Natixis, Takeda Ventures, Inc., UCB Pharma S.A., and Arix Bioscience plc. The company was founded in 1992 and is based in Shanghai, China. Fosun International Limited is a subsidiary of Fosun Holdings Limited.

Details
Name: Fosun International Limited
656
Exchange: SEHK
Founded: 1992
HK$90,893,825,196
8,542,652,744
Website: http://www.fosun.com
Address: Fosun International Limited
Bund Finance Center,
Tower S1,
Shanghai,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 656 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 16. Jul 2007
OTCPK FOSU.F Ordinary Shares Pink Sheets LLC US USD 16. Jul 2007
DB FNI Ordinary Shares Deutsche Boerse AG DE EUR 16. Jul 2007
SHSC 656 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 16. Jul 2007
SZSC 656 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 16. Jul 2007
OTCPK FOSU.Y UNSPONSORED ADR Pink Sheets LLC US USD 31. Oct 2008
Number of employees
Current staff
Staff numbers
70,000
Fosun International employees.
Industry
Industrial Conglomerates
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 12:48
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/04/26
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.