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TIL Enviro

SEHK:1790
Snowflake Description

Fair value with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1790
SEHK
HK$620M
Market Cap
  1. Home
  2. HK
  3. Commercial Services
Company description

TIL Enviro Limited provides waste water treatment services in Ningxia, the People’s Republic of China. The last earnings update was 30 days ago. More info.


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1790 Share Price and Events
7 Day Returns
-7.5%
SEHK:1790
-1.1%
HK Commercial Services
-2.4%
HK Market
1 Year Returns
-
SEHK:1790
-32.5%
HK Commercial Services
-16.5%
HK Market
1790 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TIL Enviro (1790) -7.5% 5.1% 10.7% - - -
HK Commercial Services -1.1% -6.9% -5.9% -32.5% -31.2% -39.3%
HK Market -2.4% -10.2% -8.1% -16.5% 19.3% 4.8%
1 Year Return vs Industry and Market
  • No trading data on 1790.
  • No trading data on 1790.
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for TIL Enviro's competitors could be found in our database.

1790 Value

 Is TIL Enviro 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
  • It is not possible to calculate the future cash flow value for TIL Enviro. This is due to cash flow or dividend data being unavailable. The share price is HK$0.62.
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 TIL Enviro's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TIL Enviro's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1790 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.26
SEHK:1790 Share Price ** SEHK (2019-05-24) in HKD HK$0.62
Hong Kong Commercial Services Industry PE Ratio Median Figure of 50 Publicly-Listed Commercial Services Companies 13.38x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 10.99x

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

** Primary Listing of TIL Enviro.

SEHK:1790 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1790 Share Price ÷ EPS (both in HKD)

= 0.62 ÷ 0.26

2.43x

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

  • TIL Enviro is good value based on earnings compared to the HK Commercial Services industry average.
  • TIL Enviro is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does TIL Enviro's expected growth come at a high price?
Raw Data
SEHK:1790 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
8.4%per year
Hong Kong Commercial Services Industry PEG Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 0.7x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.76x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for TIL Enviro, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TIL Enviro's assets?
Raw Data
SEHK:1790 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$0.97
SEHK:1790 Share Price * SEHK (2019-05-24) in HKD HK$0.62
Hong Kong Commercial Services Industry PB Ratio Median Figure of 68 Publicly-Listed Commercial Services Companies 1.27x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.94x
SEHK:1790 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1790 Share Price ÷ Book Value per Share (both in HKD)

= 0.62 ÷ 0.97

0.64x

* Primary Listing of TIL Enviro.

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

  • TIL Enviro is good value based on assets compared to the HK Commercial Services industry average.
X
Value checks
We assess TIL Enviro'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. TIL Enviro 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.

1790 Future Performance

 How is TIL Enviro expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover TIL Enviro, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TIL Enviro expected to grow at an attractive rate?
  • TIL Enviro's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • TIL Enviro's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare TIL Enviro's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1790 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1790 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 8.4%
Hong Kong Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 18.4%
Hong Kong Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 24%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.1%
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:1790 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1790 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 493 -63 70
2017-12-31 366 36 59
2016-12-31 207 41 46

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TIL Enviro's earnings are expected to grow by 8.4% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if TIL Enviro is high growth as no revenue estimate data is available.
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:1790 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from TIL Enviro Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1790 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.26
2017-12-31 0.79
2016-12-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if TIL Enviro will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess TIL Enviro'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.
TIL Enviro has a total score of 1/6, 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.

1790 Past Performance

  How has TIL Enviro 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 TIL Enviro's growth in the last year to its industry (Commercial Services).
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.
  • Insufficient data to establish if TIL Enviro's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare TIL Enviro's 1-year earnings growth to the 5-year average due to insufficient past data.
  • TIL Enviro's earnings growth has not exceeded the HK Commercial Services industry average in the past year (18.8% vs 27.6%).
Earnings and Revenue History
TIL Enviro'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 TIL Enviro Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1790 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 492.51 70.00 17.90
2017-12-31 366.38 58.92 10.02
2016-12-31 207.42 46.22 9.92
2015-12-31 250.52 45.60 8.45

*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.
  • TIL Enviro has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • TIL Enviro used its assets less efficiently than the HK Commercial Services industry average last year based on Return on Assets.
  • TIL Enviro's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess TIL Enviro'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 Commercial Services 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.
TIL Enviro has a total score of 0/6, see the detailed checks below.

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

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

1790 Health

 How is TIL Enviro'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 TIL Enviro's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TIL Enviro is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • TIL Enviro's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of TIL Enviro'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 not covered by short term assets, assets are 0.8x 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 TIL Enviro Company Filings, last reported 4 months ago.

SEHK:1790 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 969.98 763.66 296.90
2017-12-31 181.49 1,370.78 197.01
2016-12-31 80.33 1,249.71 139.21
2015-12-31 72.69 1,269.32 120.15
  • TIL Enviro's level of debt (78.7%) compared to net worth is high (greater than 40%).
  • Unable to establish if TIL Enviro's debt level has increased without past 5-year debt data.
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 3.8x coverage).
X
Financial health checks
We assess TIL Enviro'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. TIL Enviro 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.

1790 Dividends

 What is TIL Enviro'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
0%
Current annual income from TIL Enviro dividends.
If you bought HK$2,000 of TIL Enviro shares you are expected to receive HK$0 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?
  • Unable to evaluate TIL Enviro's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate TIL Enviro's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:1790 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 2.3%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.7%
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 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

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

  • Unable to perform a dividend volatility check as TIL Enviro has not reported any payouts.
  • Unable to verify if TIL Enviro's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of TIL Enviro's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as TIL Enviro has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess TIL Enviro'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 TIL Enviro afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TIL Enviro has a total score of 0/6, see the detailed checks below.


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

1790 Management

 What is the CEO of TIL Enviro'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
Kok Sun Wong
COMPENSATION HK$1,858,000
AGE 45
CEO Bio

Mr. Wong Kok Sun is an Executive Director and Chief Executive Director of TIL Enviro Limited.

CEO Compensation
  • Kok Sun's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Kok Sun's remuneration is about average for companies of similar size in Hong Kong.
Management Team

Kok Sun Wong

TITLE
CEO & Executive Director
COMPENSATION
HK$2M
AGE
45

Sze Wong

TITLE
Financial controller
AGE
44
TENURE
2.4 yrs

Ning Han

TITLE
General manager
AGE
59
TENURE
5.7 yrs

Sum Yi Tsui

TITLE
Company Secretary
Board of Directors

Chin Sean Lim

TITLE
Chairman
COMPENSATION
HK$12K
AGE
37

Kok Sun Wong

TITLE
CEO & Executive Director
COMPENSATION
HK$2M
AGE
45

Sang Hew

TITLE
Independent Non-Executive Director
COMPENSATION
HK$12K
AGE
54
TENURE
0.6 yrs

Yee Tan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$12K
AGE
43

Raymond Tam

TITLE
Independent Non-Executive Director
COMPENSATION
HK$12K
AGE
37
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess TIL Enviro'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. TIL Enviro 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.

1790 News

Simply Wall St News

What Investors Should Know About TIL Enviro Limited's (HKG:1790) Financial Strength

Help shape the future of investing tools and you could win a $250 gift card! … Investors are always looking for growth in small-cap stocks like TIL Enviro Limited (HKG:1790), with a market cap of HK$620m. … since poor capital management may bring about bankruptcies,

Simply Wall St -

Should You Like TIL Enviro Limited’s (HKG:1790) High Return On Capital Employed?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

1790 Company Info

Description

TIL Enviro Limited provides waste water treatment services in Ningxia, the People’s Republic of China. The company also supplies water to power plants and public institutions; and provides municipal solid waste transfer services and other waste treatment services. It operates and four wastewater treatment facilities located in Yinchuan on transfer-operate-transfer basis. The company was founded in 2011 and is headquartered in Shanghai, the People’s Republic of China.

Details
Name: TIL Enviro Limited
1790
Exchange: SEHK
Founded: 2011
HK$620,000,000
1,000,000,000
Website: http://www.tilenviro.com
Address: TIL Enviro Limited
B-301 Shanghai Jiahua Business Centre,
808 Hongqiao Road,
Shanghai,
Shanghai Province, 200030,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1790 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 27. Nov 2018
Number of employees
Current staff
Staff numbers
158
TIL Enviro employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 13:07
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/25
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.