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Techtronic Industries

SEHK:669
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
669
SEHK
HK$109B
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Techtronic Industries Company Limited, an investment holding company, engages in the design, manufacture, and marketing of power tools, outdoor power equipment, and floor care and appliances in Hong Kong, North America, Europe, and internationally. The last earnings update was 106 days ago. More info.


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669 Share Price and Events
7 Day Returns
2.8%
SEHK:669
1.9%
HK Machinery
1.5%
HK Market
1 Year Returns
41.9%
SEHK:669
9.3%
HK Machinery
-4.7%
HK Market
669 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Techtronic Industries (669) 2.8% 9.2% 3.4% 41.9% 79% 141%
HK Machinery 1.9% 2.5% -10.4% 9.3% 61.6% 42.8%
HK Market 1.5% 3.9% -8.2% -4.7% 18.3% 3.4%
1 Year Return vs Industry and Market
  • 669 outperformed the Machinery industry which returned 9.3% over the past year.
  • 669 outperformed the Market in Hong Kong which returned -4.7% over the past year.
Price Volatility
669
Industry
5yr Volatility vs Market
Related Companies

669 Value

 Is Techtronic Industries 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 Techtronic Industries 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 Techtronic Industries.

SEHK:669 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.3%
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:669
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.09
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.087 (1 + (1- 25%) (7.47%))
1.099
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.099 * 6.65%)
9.31%

Discounted Cash Flow Calculation for SEHK:669 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Techtronic Industries 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:669 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.31%)
2020 618.15 Analyst x4 565.49
2021 764.28 Analyst x4 639.60
2022 882.05 Est @ 15.41% 675.27
2023 982.50 Est @ 11.39% 688.08
2024 1,066.72 Est @ 8.57% 683.41
2025 1,137.14 Est @ 6.6% 666.46
2026 1,196.52 Est @ 5.22% 641.51
2027 1,247.44 Est @ 4.26% 611.83
2028 1,292.11 Est @ 3.58% 579.74
2029 1,332.25 Est @ 3.11% 546.83
Present value of next 10 years cash flows $6,298.21
SEHK:669 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $1,332.25 × (1 + 2%) ÷ (9.31% – 2%)
$18,589.04
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $18,589.04 ÷ (1 + 9.31%)10
$7,629.96
SEHK:669 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $6,298.21 + $7,629.96
$13,928.17
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $13,928.17 / 1,828.03
$7.62
SEHK:669 Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:669)
7.817
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $7.62 x 7.817
HK$59.56
Value per share (HKD) From above. HK$59.56
Current discount Discount to share price of HK$60.25
= -1 x (HK$60.25 - HK$59.56) / HK$59.56
-1.2%

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

  • The current share price of Techtronic Industries 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 Techtronic Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Techtronic Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:669 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.30
SEHK:669 Share Price ** SEHK (2019-07-17) in HKD HK$60.25
SEHK:669 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.128 $7.71
Hong Kong Machinery Industry PE Ratio Median Figure of 37 Publicly-Listed Machinery Companies 9.33x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.75x

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

** Primary Listing of Techtronic Industries.

SEHK:669 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:669 Share Price ÷ EPS (both in USD)

= 7.71 ÷ 0.30

25.56x

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

  • Techtronic Industries is overvalued based on earnings compared to the HK Machinery industry average.
  • Techtronic Industries is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Techtronic Industries's expected growth come at a high price?
Raw Data
SEHK:669 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
16.6%per year
Hong Kong Machinery Industry PEG Ratio Median Figure of 12 Publicly-Listed Machinery Companies 0.71x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:669 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.56x ÷ 16.6%

1.54x

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

  • Techtronic Industries is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Techtronic Industries's assets?
Raw Data
SEHK:669 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $1.67
SEHK:669 Share Price * SEHK (2019-07-17) in HKD HK$60.25
SEHK:669 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.128 $7.71
Hong Kong Machinery Industry PB Ratio Median Figure of 50 Publicly-Listed Machinery Companies 0.99x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:669 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:669 Share Price ÷ Book Value per Share (both in USD)

= 7.71 ÷ 1.67

4.61x

* Primary Listing of Techtronic Industries.

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

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

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

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

669 Future Performance

 How is Techtronic Industries expected to perform in the next 1 to 3 years based on estimates from 7 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
16.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Techtronic Industries expected to grow at an attractive rate?
  • Techtronic Industries's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Techtronic Industries's earnings growth is expected to exceed the Hong Kong market average.
  • Techtronic Industries's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:669 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:669 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 16.6%
SEHK:669 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 10.7%
Hong Kong Machinery Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
Hong Kong Machinery Industry Revenue Growth Rate Market Cap Weighted Average 10.4%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -7.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
SEHK:669 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:669 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 9,686 1,003 913 6
2020-12-31 8,705 850 760 7
2019-12-31 7,832 634 646 7
SEHK:669 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 7,021 794 552
2018-09-30 6,817 739 537
2018-06-30 6,613 685 521
2018-03-31 6,338 642 496
2017-12-31 6,064 598 470
2017-09-30 5,870 581 453
2017-06-30 5,676 563 436
2017-03-31 5,578 573 423
2016-12-31 5,480 584 409
2016-09-30 5,365 492 391
2016-06-30 5,250 401 373
2016-03-31 5,144 368 364

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Techtronic Industries's earnings are expected to grow by 16.6% yearly, however this is not considered high growth (20% yearly).
  • Techtronic Industries's revenue is expected to grow by 10.7% 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:669 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 7 Analyst Estimates (S&P Global) See Below

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

SEHK:669 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.50 0.52 0.47 5.00
2020-12-31 0.41 0.43 0.40 6.00
2019-12-31 0.36 0.40 0.35 6.00
SEHK:669 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.30
2018-09-30 0.29
2018-06-30 0.28
2018-03-31 0.27
2017-12-31 0.26
2017-09-30 0.25
2017-06-30 0.24
2017-03-31 0.23
2016-12-31 0.22
2016-09-30 0.21
2016-06-30 0.20
2016-03-31 0.20

*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.
  • Techtronic Industries is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Techtronic Industries'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.
Techtronic Industries has a total score of 4/6, 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.

669 Past Performance

  How has Techtronic Industries 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 Techtronic Industries's growth in the last year to its industry (Machinery).
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.
  • Techtronic Industries's year on year earnings growth rate has been positive over the past 5 years.
  • Techtronic Industries's 1-year earnings growth exceeds its 5-year average (17.4% vs 15.6%)
  • Techtronic Industries's earnings growth has not exceeded the HK Machinery industry average in the past year (17.4% vs 18%).
Earnings and Revenue History
Techtronic Industries'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 Techtronic Industries Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:669 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 7,021.18 552.46 1,811.57 202.56
2018-09-30 6,817.01 536.60 1,754.51 194.06
2018-06-30 6,612.84 520.73 1,697.44 185.55
2018-03-31 6,338.24 495.58 1,623.15 174.59
2017-12-31 6,063.63 470.43 1,548.86 163.62
2017-09-30 5,870.00 453.40 1,495.78 158.52
2017-06-30 5,676.37 436.38 1,442.70 153.42
2017-03-31 5,578.39 422.68 1,417.74 150.35
2016-12-31 5,480.41 408.98 1,392.77 147.28
2016-09-30 5,365.04 390.87 1,364.80 140.29
2016-06-30 5,249.66 372.77 1,336.82 133.30
2016-03-31 5,143.83 363.60 1,306.08 130.54
2015-12-31 5,038.00 354.43 1,275.33 127.79
2015-09-30 5,007.52 338.59 1,275.06 127.30
2015-06-30 4,977.03 322.75 1,274.79 126.82
2015-03-31 4,864.99 311.54 1,241.53 122.41
2014-12-31 4,752.96 300.33 1,208.27 117.99
2014-09-30 4,630.13 284.66 1,170.55 116.79
2014-06-30 4,507.31 268.99 1,132.83 115.60
2014-03-31 4,403.53 259.64 1,100.53 111.34
2013-12-31 4,299.76 250.28 1,068.23 107.08
2013-09-30 4,169.88 236.24 1,033.89 98.71
2013-06-30 4,040.01 222.19 999.54 90.34
2013-03-31 3,946.22 211.59 976.71 84.93
2012-12-31 3,852.42 200.99 953.87 79.52
2012-09-30 3,795.18 184.55 942.95 77.39

*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.
  • Techtronic Industries has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Techtronic Industries used its assets more efficiently than the HK Machinery industry average last year based on Return on Assets.
  • Techtronic Industries has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Techtronic Industries'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 Machinery 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.
Techtronic Industries has a total score of 4/6, 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.

669 Health

 How is Techtronic Industries'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 Techtronic Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Techtronic Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Techtronic Industries's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Techtronic Industries's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.1x 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 Techtronic Industries Company Filings, last reported 6 months ago.

SEHK:669 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,057.34 1,038.80 1,263.55
2018-09-30 3,057.34 1,038.80 1,263.55
2018-06-30 2,906.73 976.74 1,035.11
2018-03-31 2,906.73 976.74 1,035.11
2017-12-31 2,740.72 912.86 1,008.44
2017-09-30 2,740.72 912.86 1,008.44
2017-06-30 2,531.92 1,096.37 920.26
2017-03-31 2,531.92 1,096.37 920.26
2016-12-31 2,398.93 989.83 903.38
2016-09-30 2,398.93 989.83 903.38
2016-06-30 2,232.58 1,157.58 853.79
2016-03-31 2,232.58 1,157.58 853.79
2015-12-31 2,155.57 1,127.15 893.12
2015-09-30 2,155.57 1,127.15 893.12
2015-06-30 2,049.25 1,152.46 846.92
2015-03-31 2,049.25 1,152.46 846.92
2014-12-31 1,967.03 951.48 777.52
2014-09-30 1,967.03 951.48 777.52
2014-06-30 1,821.92 1,143.26 752.74
2014-03-31 1,821.92 1,143.26 752.74
2013-12-31 1,745.44 957.16 775.20
2013-09-30 1,745.44 957.16 775.20
2013-06-30 1,643.63 1,076.61 653.37
2013-03-31 1,643.63 1,076.61 653.37
2012-12-31 1,556.52 1,091.97 697.25
2012-09-30 1,556.52 1,091.97 697.25
  • Techtronic Industries's level of debt (34%) 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 (55.2% vs 34% today).
  • Debt is well covered by operating cash flow (76.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 46.7x coverage).
X
Financial health checks
We assess Techtronic Industries'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. Techtronic Industries 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.

669 Dividends

 What is Techtronic Industries'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
1.45%
Current annual income from Techtronic Industries dividends. Estimated to be 2.21% next year.
If you bought HK$2,000 of Techtronic Industries shares you are expected to receive HK$29 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?
  • Techtronic Industries's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Techtronic Industries's dividend is below the markets top 25% of dividend payers in Hong Kong (5.75%).
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:669 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 7 Analyst Estimates (S&P Global) See Below
Hong Kong Machinery Industry Average Dividend Yield Market Cap Weighted Average of 26 Stocks 3.2%
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:669 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.21 6.00
2020-12-31 0.18 7.00
2019-12-31 0.13 7.00
SEHK:669 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-02 0.112 1.589
2018-08-15 0.100 1.722
2018-03-13 0.087 1.519
2017-05-19 0.064 1.194
2017-04-05 0.064 1.491
2017-03-14 0.064 1.584
2016-04-05 0.051 1.313
2016-03-15 0.051 1.293
2015-08-19 0.045 1.186
2015-04-09 0.041 1.166
2015-03-18 0.041 1.181
2014-04-09 0.031 0.978
2014-04-07 0.031 1.054
2014-03-19 0.031 1.088
2013-04-11 0.023 0.896
2013-03-21 0.023 0.944
2012-03-22 0.016 1.061
2011-08-18 0.014 1.493
2011-03-24 0.013 1.084
2010-08-19 0.011 0.951
2010-04-16 0.012 1.317
2009-08-27 0.008 0.914
2009-04-23 0.008 1.039

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 Techtronic Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
X
Income/ dividend checks
We assess Techtronic Industries'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 Techtronic Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Techtronic Industries 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.

669 Management

 What is the CEO of Techtronic Industries'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
Joe Galli
COMPENSATION $16,803,000
AGE 60
TENURE AS CEO 11.4 years
CEO Bio

Mr. Joseph Galli, Jr., also known as Joe, BSBA, MBA, has been the Chief Executive Officer of Techtronic Industries Co. Ltd. (a/k/a, TTI) since February 1, 2008. Mr. Galli is responsible for integrating acquisitions in North America and Europe and enhancing the global sales potential of the TTI's strong brand portfolio. He is also responsible for leading the management team in the TTI's daily operation. He joined the Techtronic Group in 2006 as the Chief Executive Officer of Techtronic Appliances. Mr. Galli served as the President and Chief Executive Officer of BravoSolution US, Inc. He served as the President and Chief Executive Officer of Newell Rubbermaid Inc. from January 2001 to 2005. He served as President and Chief Executive Officer of VerticalNet, Inc., from June 2000 to January 2001. From 1980 to 1999, he served as President of Worldwide Power Tools and Accessories at The Black and Decker Corporation. He was Poetic Justice of Black and Decker. After leaving Black & Decker, Mr. Galli joined Amazon.com where he was President and Chief Operating Officer from June 1999 to June 2000. He has been Group Executive Director of Techtronic Industries Co. Ltd. since February 1, 2008. He served as a Director of Newell Rubbermaid Inc., since 2001. Mr. Galli received a Bachelor of Science in Business Administration from the University of North Carolina in 1980 and an MBA from Loyola College, Baltimore, Maryland in 1987.

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

Average tenure and age of the Techtronic Industries management team in years:

16.5
Average Tenure
59.5
Average Age
  • The average tenure for the Techtronic Industries management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Horst Pudwill

TITLE
Founder & Executive Chairman
COMPENSATION
$13M
AGE
74
TENURE
34.5 yrs

Joe Galli

TITLE
CEO & Executive Director
COMPENSATION
$17M
AGE
60
TENURE
11.4 yrs

Stephan Pudwill

TITLE
Vice Chairman
COMPENSATION
$3M
AGE
42

Frank Chan

TITLE
Group CFO & Executive Director
COMPENSATION
$4M
AGE
65
TENURE
16.5 yrs

Patrick Chan

TITLE
Operations Director & Executive Director
COMPENSATION
$3M
AGE
59
TENURE
16.5 yrs

Dyann Kostello

TITLE
Vice-President and General Counsel

Philippe Buisson

TITLE
Chief Financial Officer of Europe Middle East Africa
AGE
59

Alexandre Duarte

TITLE
President of Europe

Mike Brendle

TITLE
Managing Director of TTI Australia & New Zealand

Scott Hetherington

TITLE
Senior Vice President of Tax & Treasury
Board of Directors Tenure

Average tenure and age of the Techtronic Industries board of directors in years:

15.2
Average Tenure
65.5
Average Age
  • The average tenure for the Techtronic Industries board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Horst Pudwill

TITLE
Founder & Executive Chairman
COMPENSATION
$13M
AGE
74
TENURE
34.5 yrs

Joe Galli

TITLE
CEO & Executive Director
COMPENSATION
$17M
AGE
60
TENURE
11.4 yrs

Stephan Pudwill

TITLE
Vice Chairman
COMPENSATION
$3M
AGE
42
TENURE
2.8 yrs

Frank Chan

TITLE
Group CFO & Executive Director
COMPENSATION
$4M
AGE
65
TENURE
27.4 yrs

Patrick Chan

TITLE
Operations Director & Executive Director
COMPENSATION
$3M
AGE
59
TENURE
29.5 yrs

Vincent Cheung

TITLE
Independent Non-Executive Director
COMPENSATION
$243K
AGE
77
TENURE
28.5 yrs

Peter Sullivan

TITLE
Independent Non-Executive Director
COMPENSATION
$242K
AGE
70
TENURE
11.4 yrs

Roy Chung

TITLE
Non-Executive Director
COMPENSATION
$201K
AGE
66
TENURE
12.3 yrs

Christopher Patrick Langley

TITLE
Independent Non-Executive Director
COMPENSATION
$214K
AGE
74
TENURE
18.2 yrs

Camille Jojo

TITLE
Non-Executive Director
COMPENSATION
$289K
AGE
63
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • Techtronic Industries individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
15. Jul 19 Sell Schroder Investment Management (Singapore) Ltd Company 10. Jul 19 10. Jul 19 -541,000 HK$58.76 HK$-31,790,999
03. Jul 19 Sell Peter Sullivan Individual 28. Jun 19 28. Jun 19 -650,000 HK$59.57 HK$-38,723,685
03. Jul 19 Sell Kin Chan Individual 28. Jun 19 28. Jun 19 -112,500 HK$60.00 HK$-6,750,000
17. May 19 Buy J.P. Morgan Asset Management, Inc. Company 14. May 19 14. May 19 16,376,722 HK$50.34 HK$824,359,960
23. Apr 19 Sell Stephan Pudwill Individual 17. Apr 19 17. Apr 19 -300,000 HK$57.30 HK$-17,190,181
06. Mar 19 Sell Schroder Investment Management (Singapore) Ltd Company 01. Mar 19 01. Mar 19 -838,000 HK$52.99 HK$-44,403,443
20. Nov 18 Sell Manfred Kuhlmann Individual 19. Nov 18 19. Nov 18 -50,000 HK$42.47 HK$-2,123,400
01. Nov 18 Buy Horst Pudwill Individual 30. Oct 18 30. Oct 18 100,000 HK$36.14 HK$3,613,900
25. Oct 18 Buy Joseph Galli Individual 23. Oct 18 23. Oct 18 59,000 HK$43.12 HK$2,544,251
07. Aug 18 Buy Artisan Partners Limited Partnership Company 03. Aug 18 03. Aug 18 2,774,500 HK$42.49 HK$117,888,496
X
Management checks
We assess Techtronic Industries'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. Techtronic Industries 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.

669 News

Simply Wall St News

Need To Know: Techtronic Industries Company Limited (HKG:669) Insiders Have Been Selling Shares

So shareholders might well want to know whether insiders have been buying or selling shares in Techtronic Industries Company Limited (HKG:669). … View our latest analysis for Techtronic Industries The Last 12 Months Of Insider Transactions At Techtronic Industries In the last twelve months, the biggest single sale by an insider was when the Independent Non-Executive Director, Peter Sullivan, sold HK$39m worth of shares at a price of HK$59.57 per share. … SEHK:669 Recent Insider Trading, July 16th 2019 Techtronic Industries Insiders Are Selling The Stock The last quarter saw substantial insider selling of Techtronic Industries shares.

Simply Wall St -

What Should You Know About Techtronic Industries Company Limited's (HKG:669) Future?

Below is a brief commentary on my key takeaways on how market analysts view Techtronic Industries's earnings growth outlook over the next few years and whether the future looks even brighter than the past. … View our latest analysis for Techtronic Industries Analysts' outlook for this coming year seems buoyant, with earnings rising by a robust 17%. … SEHK:669 Past and Future Earnings, July 9th 2019 Although it’s helpful to understand the growth rate year by year relative to today’s value, it may be more valuable evaluating the rate at which the earnings are growing every year, on average.

Simply Wall St -

If You Had Bought Techtronic Industries (HKG:669) Shares Five Years Ago You'd Have Made 157%

One great example is Techtronic Industries Company Limited (HKG:669) which saw its share price drive 157% higher over five years. … 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. … A Different Perspective We're pleased to report that Techtronic Industries shareholders have received a total shareholder return of 41% over one year.

Simply Wall St -

These Fundamentals Make Techtronic Industries Company Limited (HKG:669) Truly Worth Looking At

If you're interested in understanding beyond my broad commentary, read the full report on Techtronic Industries here. … Flawless balance sheet with reasonable growth potential SEHK:669 Past and Future Earnings, June 25th 2019 669's ability to maintain an adequate level of cash to meet upcoming liabilities is a good sign for its financial health. … SEHK:669 Historical Debt, June 25th 2019 Next Steps: For Techtronic Industries, I've compiled three essential aspects you should further examine: Valuation: What is 669 worth today?

Simply Wall St -

Here's Why I Think Techtronic Industries (HKG:669) Is An Interesting Stock

In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies like Techtronic Industries (HKG:669). … View our latest analysis for Techtronic Industries How Fast Is Techtronic Industries Growing? … One important encouraging feature of Techtronic Industries is that it is growing profits.

Simply Wall St -

How Should Investors Feel About Techtronic Industries Company Limited's (HKG:669) CEO Pay?

At the time of writing our data says that Techtronic Industries Company Limited has a market cap of HK$97b, and is paying total annual CEO compensation of US$17m. … It would therefore appear that Techtronic Industries Company Limited pays Joe Galli more than the median CEO remuneration at large companies, in the same market. … We compared the total CEO remuneration paid by Techtronic Industries Company Limited, and compared it to remuneration at a group of other large companies.

Simply Wall St -

A Closer Look At Techtronic Industries Company Limited's (HKG:669) Impressive ROE

Check out our latest analysis for Techtronic Industries How Do I Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Techtronic Industries: 18% = US$552m ÷ US$3.1b (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Combining Techtronic Industries's Debt And Its 18% Return On Equity Techtronic Industries has a debt to equity ratio of 0.34, which is far from excessive.

Simply Wall St -

Techtronic Industries Company Limited (HKG:669): Financial Strength Analysis

View our latest analysis for Techtronic Industries 669’s Debt (And Cash Flows) 669's debt levels surged from US$924m to US$1.0b over the last 12 months , which includes long-term debt. … Moreover, 669 has produced US$794m in operating cash flow over the same time period, leading to an operating cash to total debt ratio of 76%, signalling that 669’s operating cash is sufficient to cover its debt. … Next Steps: 669 has demonstrated its ability to generate sufficient levels of cash flow, while its debt hovers at an appropriate level.

Simply Wall St -

An Intrinsic Calculation For Techtronic Industries Company Limited (HKG:669) Suggests It's 23% Undervalued

In this article we are going to estimate the intrinsic value of Techtronic Industries Company Limited (HKG:669) by estimating the company's future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $368.13 $612.29 $761.53 $881.99 $984.95 $1.07k $1.14k $1.20k $1.26k $1.30k Growth Rate Estimate Source Analyst x3 Analyst x3 Analyst x3 Est @ 15.82% Est @ 11.67% Est @ 8.77% Est @ 6.74% Est @ 5.32% Est @ 4.32% Est @ 3.63% Present Value ($, Millions) Discounted @ 8.45% $339.43 $520.56 $596.96 $637.50 $656.43 $658.36 $647.96 $629.24 $605.28 $578.35 Present Value of 10-year Cash Flow (PVCF)= $5.87b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$1.3b × (1 + 2%) ÷ (8.5% – 2%) = US$21b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$21b ÷ ( 1 + 8.5%)10 = $9.14b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $15.02b.

Simply Wall St -

Do Directors Own Techtronic Industries Company Limited (HKG:669) Shares?

Every investor in Techtronic Industries Company Limited (HKG:669) should be aware of the most powerful shareholder groups. … View our latest analysis for Techtronic Industries SEHK:669 Ownership Summary, May 15th 2019 What Does The Institutional Ownership Tell Us About Techtronic Industries? … Insider Ownership Of Techtronic Industries While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

669 Company Info

Description

Techtronic Industries Company Limited, an investment holding company, engages in the design, manufacture, and marketing of power tools, outdoor power equipment, and floor care and appliances in Hong Kong, North America, Europe, and internationally. The company offers industrial power tools, industrial power equipment, power tool accessories, hand tools and storage products, layout and measuring tools, accessories, professional tools, do-it-yourselfer (DIY) power tools, and outdoor products under the Milwaukee, AEG, RYOBI, HOMELITE, Empire, Imperial Blades, STILETTO, and HART brands. It also provides cleaning solutions, including uprights, stick vacuums, and hard-floor cleaners under the HOOVER brand; vacuums, steam mops, floor machines, air purifiers, and other cleaning products under the ORECK brand; cleaning products across various floor care categories under the VAX brand; and uprights, sticks, and hand vacuums under the DIRT DEVIL brand. In addition, the company trades in outdoor power equipment products, household electronic and electrical products, and floor care products; manufactures plastic parts, metallic parts, and electronic products; holds investment and intellectual properties; and offers inspection services. Further, it is involved in the research and development activities; and design, manufacture, and supply of products under a contract manufacturing basis for other brands, distributors, and retailers. The company serves DIY, professional, and industrial users in the home improvement, repair, maintenance, construction, and infrastructure industries. Techtronic Industries Company Limited was founded in 1985 and is headquartered in Kwai Chung, Hong Kong.

Details
Name: Techtronic Industries Company Limited
669
Exchange: SEHK
Founded: 1985
HK$108,859,004,336
1,828,026,941
Website: http://www.ttigroup.com
Address: Techtronic Industries Company Limited
Tower 2,
29th Floor,
Kwai Chung,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 669 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK TTND.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB TIB1 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SHSC 669 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 669 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
OTCPK TTND.Y SPONSORED ADR Pink Sheets LLC US USD 08. Feb 1994
Number of employees
Current staff
Staff numbers
23,279
Techtronic Industries employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 12:47
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/07/16
Last earnings filing: 2019/04/02
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.