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NWS Holdings

SEHK:659
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
659
SEHK
HK$61B
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

NWS Holdings Limited engages in infrastructure and services businesses in Hong Kong, Mainland China, and internationally. The last earnings update was 124 days ago. More info.


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659 Share Price and Events
7 Day Returns
-2.5%
SEHK:659
-1.9%
HK Industrials
-1.1%
HK Market
1 Year Returns
11.3%
SEHK:659
-6.2%
HK Industrials
-6.5%
HK Market
659 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NWS Holdings (659) -2.5% 0.3% -7.7% 11.3% 21.7% 4.1%
HK Industrials -1.9% 1.9% -9% -6.2% -4.9% -29.2%
HK Market -1.1% 3.4% -7.7% -6.5% 17.4% 4.2%
1 Year Return vs Industry and Market
  • 659 outperformed the Industrials industry which returned -6.2% over the past year.
  • 659 outperformed the Market in Hong Kong which returned -6.5% over the past year.
Price Volatility
659
Industry
5yr Volatility vs Market

Value

 Is NWS Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of NWS Holdings to its discounted cash flow analysis.value.

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

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

SEHK:659 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.8%
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:659
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Industrials Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.889 (1 + (1- 25%) (20.9%))
1.019
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.019 * 6.65%)
8.78%

Discounted Cash Flow Calculation for SEHK:659 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for NWS 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.

SEHK:659 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 8.78%)
2020 4,288.50 Analyst x2 3,942.48
2021 3,736.50 Analyst x2 3,157.86
2022 3,658.68 Est @ -2.08% 2,842.60
2023 3,627.32 Est @ -0.86% 2,590.84
2024 3,627.36 Est @ 0% 2,381.82
2025 3,649.18 Est @ 0.6% 2,202.81
2026 3,686.47 Est @ 1.02% 2,045.77
2027 3,735.00 Est @ 1.32% 1,905.46
2028 3,791.86 Est @ 1.52% 1,778.38
2029 3,855.05 Est @ 1.67% 1,662.14
Present value of next 10 years cash flows HK$24,510.17
SEHK:659 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$3,855.05 × (1 + 2%) ÷ (8.78% – 2%)
HK$58,051.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$58,051.20 ÷ (1 + 8.78%)10
HK$25,029.31
SEHK:659 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$24,510.17 + HK$25,029.31
HK$49,539.48
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$49,539.48 / 3,911.14
HK$12.67
SEHK:659 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$12.67
Current discount Discount to share price of HK$15.60
= -1 x (HK$15.60 - HK$12.67) / HK$12.67
-23.2%

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

  • The current share price of NWS Holdings 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 NWS Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NWS Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:659 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$1.50
SEHK:659 Share Price ** SEHK (2019-07-15) in HKD HK$15.6
Hong Kong Industrials Industry PE Ratio Median Figure of 12 Publicly-Listed Industrials Companies 6.89x
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 NWS Holdings.

SEHK:659 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:659 Share Price ÷ EPS (both in HKD)

= 15.6 ÷ 1.50

10.37x

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

  • NWS Holdings is overvalued based on earnings compared to the HK Industrials industry average.
  • NWS Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does NWS Holdings's expected growth come at a high price?
Raw Data
SEHK:659 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.37x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
4.6%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 0.79x

*Line of best fit is calculated by linear regression .

SEHK:659 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.37x ÷ 4.6%

2.24x

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

  • NWS Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on NWS Holdings's assets?
Raw Data
SEHK:659 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$12.62
SEHK:659 Share Price * SEHK (2019-07-15) in HKD HK$15.6
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:659 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:659 Share Price ÷ Book Value per Share (both in HKD)

= 15.6 ÷ 12.62

1.24x

* Primary Listing of NWS Holdings.

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

  • NWS Holdings is overvalued based on assets compared to the HK Industrials industry average.
X
Value checks
We assess NWS Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the 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. NWS 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.

Future Performance

 How is NWS Holdings expected to perform in the next 1 to 3 years based on estimates from 2 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
4.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NWS Holdings expected to grow at an attractive rate?
  • NWS Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • NWS Holdings's earnings growth is positive but not above the Hong Kong market average.
  • NWS Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:659 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:659 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 4.6%
SEHK:659 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 14%
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 11.2%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
SEHK:659 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:659 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 45,789 4,563 5,988 2
2020-06-30 40,643 5,043 5,341 2
2019-06-30 35,970 4,975 4,947 2
SEHK:659 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 31,226 4,682 5,865
2018-09-30 33,170 4,555 5,967
2018-06-30 35,115 4,429 6,069
2018-03-31 35,365 4,077 5,788
2017-12-31 35,616 3,726 5,507
2017-09-30 33,500 3,342 5,568
2017-06-30 31,385 2,958 5,629
2017-03-31 30,252 2,903 5,394
2016-12-31 29,119 2,847 5,159
2016-09-30 29,309 3,220 5,036
2016-06-30 29,498 3,594 4,913
2016-03-31 28,120 3,598 4,870

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NWS Holdings's earnings are expected to grow by 4.6% yearly, however this is not considered high growth (20% yearly).
  • NWS Holdings's revenue is expected to grow by 14% 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:659 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 2 Analyst Estimates (S&P Global) See Below

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

SEHK:659 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 1.52 1.74 1.30 2.00
2020-06-30 1.36 1.52 1.20 2.00
2019-06-30 1.27 1.34 1.20 2.00
SEHK:659 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 1.50
2018-09-30 1.53
2018-06-30 1.56
2018-03-31 1.49
2017-12-31 1.42
2017-09-30 1.44
2017-06-30 1.46
2017-03-31 1.41
2016-12-31 1.35
2016-09-30 1.32
2016-06-30 1.29
2016-03-31 1.29

*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.
  • NWS Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess NWS Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NWS 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.

Past Performance

  How has NWS Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare NWS Holdings'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.
  • NWS Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • NWS Holdings's 1-year earnings growth is less than its 5-year average (6.5% vs 8.3%)
  • NWS Holdings's earnings growth has not exceeded the HK Industrials industry average in the past year (6.5% vs 8.8%).
Earnings and Revenue History
NWS Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

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

SEHK:659 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 31,225.90 5,865.00 1,380.20
2018-09-30 33,170.35 5,966.90 1,423.30
2018-06-30 35,114.80 6,068.80 1,466.40
2018-03-31 35,365.35 5,787.85 1,432.05
2017-12-31 35,615.90 5,506.90 1,397.70
2017-09-30 33,500.45 5,567.90 1,345.70
2017-06-30 31,385.00 5,628.90 1,293.70
2017-03-31 30,252.20 5,393.75 1,211.20
2016-12-31 29,119.40 5,158.60 1,128.70
2016-09-30 29,308.60 5,035.70 1,116.20
2016-06-30 29,497.80 4,912.80 1,103.70
2016-03-31 28,119.80 4,870.45 1,107.90
2015-12-31 26,741.80 4,828.10 1,112.10
2015-09-30 25,616.80 4,652.85 1,063.25
2015-06-30 24,491.80 4,477.60 1,014.40
2015-03-31 23,905.70 4,100.70 959.45
2014-12-31 23,319.60 3,723.80 904.50
2014-09-30 22,381.30 4,024.35 892.80
2014-06-30 21,443.00 4,324.90 881.10
2014-03-31 19,908.85 4,415.80 861.30
2013-12-31 18,374.70 4,506.70 841.50
2013-09-30 17,311.30 4,257.35 794.30
2013-06-30 16,247.90 4,008.00 747.10
2013-03-31 16,115.65 3,971.10 715.50
2012-12-31 15,983.40 3,934.20 683.90
2012-09-30 15,468.85 4,592.65 669.20

*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.
  • NWS Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • NWS Holdings used its assets more efficiently than the HK Industrials industry average last year based on Return on Assets.
  • NWS Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess NWS Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the 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.
NWS Holdings has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is NWS 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 NWS Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NWS Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NWS Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of NWS Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.7x 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 NWS Holdings Company Filings, last reported 6 months ago.

SEHK:659 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 49,434.90 12,815.40 7,275.60
2018-09-30 49,434.90 12,815.40 7,275.60
2018-06-30 50,123.80 10,213.70 6,656.60
2018-03-31 50,123.80 10,213.70 6,656.60
2017-12-31 48,873.60 12,569.80 6,420.80
2017-09-30 48,873.60 12,569.80 6,420.80
2017-06-30 49,275.00 9,729.10 6,453.40
2017-03-31 49,275.00 9,729.10 6,453.40
2016-12-31 46,135.90 15,356.60 10,020.50
2016-09-30 46,135.90 15,356.60 10,020.50
2016-06-30 45,858.40 15,136.50 8,953.60
2016-03-31 45,858.40 15,136.50 8,953.60
2015-12-31 45,436.20 18,455.90 11,369.40
2015-09-30 45,436.20 18,455.90 11,369.40
2015-06-30 46,187.70 16,908.20 10,422.50
2015-03-31 46,187.70 16,908.20 10,422.50
2014-12-31 45,109.50 16,698.00 11,273.20
2014-09-30 45,109.50 16,698.00 11,273.20
2014-06-30 43,043.40 17,765.00 7,637.50
2014-03-31 43,043.40 17,765.00 7,637.50
2013-12-31 43,489.40 18,078.10 9,384.40
2013-09-30 43,489.40 18,078.10 9,384.40
2013-06-30 41,021.00 17,778.20 8,352.50
2013-03-31 41,021.00 17,778.20 8,352.50
2012-12-31 39,372.50 18,695.10 7,301.50
2012-09-30 39,372.50 18,695.10 7,301.50
  • NWS Holdings's level of debt (25.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (41.6% vs 25.9% today).
  • Debt is well covered by operating cash flow (36.5%, greater than 20% of total debt).
  • NWS Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess NWS Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NWS Holdings has a total score of 6/6, 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.

Dividends

 What is NWS Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5%
Current annual income from NWS Holdings dividends. Estimated to be 5.33% next year.
If you bought HK$2,000 of NWS Holdings shares you are expected to receive HK$100 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?
  • NWS Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • NWS Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.73%).
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:659 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 2 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:659 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.89 2.00
2020-06-30 0.78 2.00
2019-06-30 0.68 2.00
SEHK:659 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-09-19 0.780 4.749
2018-02-26 0.710 4.942
2017-10-16 0.780 5.302
2017-09-20 0.780 5.092
2016-11-28 0.650 4.514
2015-11-24 0.600 4.895
2014-11-25 0.580 4.723
2014-03-31 0.620 4.368
2013-11-25 0.550 4.657
2013-03-28 0.540 4.379
2012-09-25 0.750 5.778
2012-02-28 0.830 7.016
2011-09-28 0.700 6.077
2011-03-16 0.700 6.305
2010-10-28 0.633 5.076
2010-10-05 0.633 5.149
2010-03-16 0.693 7.296
2009-10-07 0.413 4.351
2009-03-18 0.267 2.817
2008-10-27 0.633 10.335
2008-10-08 0.633 10.601

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of NWS Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess NWS Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NWS Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NWS Holdings has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of NWS Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Siu Cheung Ma
AGE 54
TENURE AS CEO 0.5 years
CEO Bio

Mr. Siu Cheung Ma, GBS, JP, serves an Executive Director of NWS Holdings Ltd since July 09, 2018 and has been its CEO since January 01, 2019. He served as COO of NWS Holdings Ltd since July 09, 2018 until January 01, 2019. He was the Acting Chief Executive Officer of Hong Kong-Shenzhen Innovation and Technology Park Limited during the period from February to June 2018. He joined the government of the Hong Kong Special Administrative Region of the People’s Republic of China (the “HKSAR Government”) in January 2014 as the Under Secretary for Development and was subsequently appointed as the Secretary for Development in February 2017 and remained in the post until June 2017. Prior to working with the HKSAR Government, Mr. Ma was the Executive Vice-President for Civil and Infrastructure Business (Asia Pacific) of AECOM Asia Company Limited. Mr. Ma is a Fellow of the Hong Kong Institution of Engineers, the Institution of Structural Engineers, United Kingdom and the Chartered Institution of Highways and Transportation, United Kingdom, and a member of the Institution of Civil Engineers, United Kingdom. He is also a Registered Professional Engineer in Hong Kong and a Chartered Engineer in the United Kingdom. Mr. Ma holds a Bachelor of Science degree in Engineering (Civil) from the University of Hong Kong and a Master of Engineering degree in Transportation Planning from Monash University, Australia. He is an Honorary Professor of the Department of Real Estate and Construction, Faculty of Architecture of the University of Hong Kong. Mr. Ma was appointed as Justice of the Peace in 2014 and was awarded the Gold Bauhinia Star by the HKSAR Government in 2017.

CEO Compensation
  • Insufficient data for Siu Cheung to compare compensation growth.
  • Insufficient data for Siu Cheung to establish whether their remuneration is reasonable compared to companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the NWS Holdings management team in years:

1
Average Tenure
54
Average Age
  • The average tenure for the NWS Holdings management team is less than 2 years, this suggests a new team.
Management Team

Henry Cheng

TITLE
Chairman of the Board
COMPENSATION
HK$17M
AGE
72

Tommy Cheung

TITLE
Executive Director
COMPENSATION
HK$25M
AGE
63

Brian Cheng

TITLE
Executive Director
COMPENSATION
HK$10M
AGE
37

Derek Chow

TITLE
Company Secretary & Executive Director
AGE
52
TENURE
14.8 yrs

Siu Cheung Ma

TITLE
CEO & Executive Director
AGE
54
TENURE
0.5 yrs

Elina Lam

TITLE
Director of Human Resources
AGE
56

Gilbert Ho

TITLE
Executive Director
AGE
42
TENURE
1 yrs

Tat Chi Chu

TITLE
Managing Director of Hip Hing Construction Company Limited
AGE
62

Monica Lee

TITLE
Managing Director of Hong Kong Convention & Exhibition Centre (Management) Limited
AGE
54
Board of Directors Tenure

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

15.3
Average Tenure
66.5
Average Age
  • The average tenure for the NWS Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Henry Cheng

TITLE
Chairman of the Board
COMPENSATION
HK$17M
AGE
72
TENURE
18.3 yrs

Tommy Cheung

TITLE
Executive Director
COMPENSATION
HK$25M
AGE
63
TENURE
15.8 yrs

Brian Cheng

TITLE
Executive Director
COMPENSATION
HK$10M
AGE
37
TENURE
10 yrs

Derek Chow

TITLE
Company Secretary & Executive Director
AGE
52
TENURE
1 yrs

Siu Cheung Ma

TITLE
CEO & Executive Director
AGE
54
TENURE
1 yrs

Gilbert Ho

TITLE
Executive Director
AGE
42
TENURE
1 yrs

Abraham Razack Shek

TITLE
Independent Non-Executive Director
COMPENSATION
HK$610K
AGE
73
TENURE
14.8 yrs

Gordon Kwong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$630K
AGE
70
TENURE
16.8 yrs

Dominic Lai

TITLE
Non-Executive Director
COMPENSATION
HK$520K
AGE
72
TENURE
16.9 yrs

Christopher Cheng

TITLE
Independent Non-Executive Director
COMPENSATION
HK$560K
AGE
71
TENURE
16.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess NWS Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NWS 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.

News

Simply Wall St News

I Built A List Of Growing Companies And NWS Holdings (HKG:659) Made The Cut

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in NWS Holdings (HKG:659). … View our latest analysis for NWS Holdings NWS Holdings's Earnings Per Share Are Growing. … Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS.

Simply Wall St -

Is NWS Holdings Limited (HKG:659) An Attractive Dividend Stock?

Is NWS Holdings Limited (HKG:659) a good dividend stock? … With NWS Holdings yielding 4.8% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … Click the interactive chart for our full dividend analysis SEHK:659 Historical Dividend Yield, July 4th 2019 Payout ratios Dividends are typically paid from company earnings.

Simply Wall St -

Should You Ramp Up Holdings In NWS Holdings Limited (HKG:659)?

NWS Holdings Limited is a financially healthy and robust stock with a proven track record of outperformance. … We all know NWS Holdings, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … We aim to bring you long-term focused research analysis driven by fundamental data.

Simply Wall St -

NWS Holdings (HKG:659) Shareholders Have Enjoyed A 22% Share Price Gain

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. … As it happens, NWS Holdings's TSR for the last 3 years was 48%, which exceeds the share price return mentioned earlier.

Simply Wall St -

A Look At NWS Holdings Limited's (HKG:659) Exceptional Fundamentals

Flawless balance sheet average dividend payer 659's strong financial health means that all of its upcoming liability payments are able to be met by its current cash and short-term investment holdings. … SEHK:659 Historical Debt, May 20th 2019 659 is also a dividend company, with ample net income to cover its dividend payout, which has been consistently growing over the past decade, keeping income investors happy. … Take a look at our free research report of analyst consensus for 659’s outlook.

Simply Wall St -

What Can We Learn From NWS Holdings Limited’s (HKG:659) Investment Returns?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

What Is NWS Holdings Limited's (HKG:659) Share Price Doing?

received a lot of attention from a substantial price movement on the SEHK over the last few months, increasing to HK$21.35 at one point, and dropping to the lows of HK$16.36. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … A question to answer is whether NWS Holdings's current trading price of HK$16.54 reflective of the actual value of the?

Simply Wall St -

Could The NWS Holdings Limited (HKG:659) Ownership Structure Tell Us Something Useful?

Every investor in NWS Holdings Limited (HKG:659) should be aware of the most powerful shareholder groups. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Can NWS Holdings Limited (HKG:659) Maintain Its Strong Returns?

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. … Our data shows NWS Holdings has a return on equity of 12% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should NWS Holdings Limited (HKG:659) Be Part Of Your Portfolio?

Historically, NWS Holdings Limited (HKG:659) has paid dividends to shareholders, and these days it yields 4.6%. … Does NWS Holdings tick all the boxes of a great dividend stock? … View our latest analysis for NWS Holdings

Simply Wall St -

Company Info

Description

NWS Holdings Limited engages in infrastructure and services businesses in Hong Kong, Mainland China, and internationally. The company operates through Roads, Environment, Logistics, Aviation, Facilities Management, Construction & Transport, and Strategic Investments segments. It operates 15 roads and related projects; and 2 power plants with a total installed capacity of 1,820 megawatts. The company also undertakes water and wastewater treatment, waste management, renewable resource recycling and utilization, and environmental remediation projects, as well as provides design, engineering, and procurement services. In addition, the company develops and operates a rail container terminal network across Mainland China; invests in a logistics center in Hong Kong with a total leasable area of approximately 5.9 million square feet; and 3 port projects in Mainland China with an aggregate container handling capacity of 12 million twenty-foot equivalent units per year; leases commercial aircrafts to airline operators worldwide; and invests in Beijing Capital International Airport. Further, it provides facilities management services, including property investment, operation, marketing, promotion, and management of the Hong Kong Convention and Exhibition Centre; and retails duty free tobacco, liquor, perfume, cosmetics, package food, and general merchandise. Additionally, the company is involved in the construction of various projects; provision of bus and ferry, information technology, property agency management and consultancy, financing, carpark management, and management consultation services, as well as piling, ground investigation, and civil engineering services; operation of toll roads; and foundation work activities. The company was formerly known as Pacific Ports Co Limited and changed its name to NWS Holdings Limited in January 2003. The company is headquartered in Central, Hong Kong. NWS Holdings Limited is a subsidiary of New World Development Company Limited.

Details
Name: NWS Holdings Limited
659
Exchange: SEHK
Founded:
HK$61,326,641,472
3,911,137,849
Website: http://www.nws.com.hk
Address: NWS Holdings Limited
New World Tower,
28th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 659 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 25. Apr 1997
OTCPK NWSZ.F Ordinary Shares Pink Sheets LLC US USD 25. Apr 1997
DB NWS Ordinary Shares Deutsche Boerse AG DE EUR 25. Apr 1997
SHSC 659 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 25. Apr 1997
SZSC 659 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 25. Apr 1997
OTCPK NWSG.Y SPONSORED ADR Pink Sheets LLC US USD 15. Apr 2010
Number of employees
Current staff
Staff numbers
27,200
NWS Holdings employees.
Industry
Industrial Conglomerates
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 12:39
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/07/11
Last earnings filing: 2019/03/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.