ManpowerGroup Greater China (SEHK:2180) - Share price, News & Analysis

2180 fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	1/6
Financial Health	6/6
Dividends	3/6

2180 Stock Overview

ManpowerGroup Greater China Limited, an investment holding company, provides workforce solutions and services in the People’s Republic of China, Hong Kong, Macau, and Taiwan.

Rewards

Earnings have grown 14.5% per year over the past 5 years

Risk Analysis

High level of non-cash earnings

Unstable dividend track record

ManpowerGroup Greater China Competitors

Price History & Performance

Summary of all time highs, changes and price drops for ManpowerGroup Greater China
Historical stock prices
Current Share Price	HK$9.65
52 Week High	HK$9.90
52 Week Low	HK$8.02
Beta	0.061
1 Month Change	6.63%
3 Month Change	14.61%
1 Year Change	2.12%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-1.53%

Recent News & Updates

Apr 28

ManpowerGroup Greater China (HKG:2180) Will Pay A Larger Dividend Than Last Year At HK$0.37

The board of ManpowerGroup Greater China Limited ( HKG:2180 ) has announced that it will be increasing its dividend on...

Apr 07

ManpowerGroup Greater China (HKG:2180) Is Increasing Its Dividend To HK$0.37

ManpowerGroup Greater China Limited ( HKG:2180 ) has announced that it will be increasing its dividend on the 20th of...

Shareholder Returns

	2180	HK Professional Services	HK Market
7D	3.9%	-0.7%	2.1%
1Y	2.1%	-23.2%	-23.3%

Return vs Industry: 2180 exceeded the Hong Kong Professional Services industry which returned -23.8% over the past year.

Return vs Market: 2180 exceeded the Hong Kong Market which returned -23.3% over the past year.

Price Volatility

Is 2180's price volatile compared to industry and market?
2180 volatility
2180 Average Weekly Movement	2.8%
Professional Services Industry Average Movement	7.1%
Market Average Movement	7.0%
10% most volatile stocks in HK Market	13.8%
10% least volatile stocks in HK Market	3.3%

Stable Share Price: 2180 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 2180's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1997	1,322	Zhihui Cui	https://www.manpowergrc.com

ManpowerGroup Greater China Limited, an investment holding company, provides workforce solutions and services in the People’s Republic of China, Hong Kong, Macau, and Taiwan. The company operates through Workforce Solutions and Other HR Services segments. It offers flexible staffing solutions to provide contingent workers to manage headcount or only require workers for a limited time or a specific project; headhunting services that help enterprises in selecting various senior-level talents; recruiting process outsourcing management services and recruitment services; and candidate assessments, screening, conducting candidate interviews, sourcing technology, and marketing and recruiting expertise.

ManpowerGroup Greater China Fundamentals Summary

How do ManpowerGroup Greater China's earnings and revenue compare to its market cap?
2180 fundamental statistics
Market Cap	CN¥1.71b
Earnings (TTM)	CN¥139.17m
Revenue (TTM)	CN¥3.97b

12.3x

P/E Ratio

0.4x

P/S Ratio

Is 2180 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
2180 income statement (TTM)
Revenue	CN¥3.97b
Cost of Revenue	CN¥3.33b
Gross Profit	CN¥638.23m
Other Expenses	CN¥499.07m
Earnings	CN¥139.17m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.67
Gross Margin	16.08%
Net Profit Margin	3.51%
Debt/Equity Ratio	0%

How did 2180 perform over the long term?

See historical performance and comparison

Dividends

3.6%

Current Dividend Yield

45%

Payout Ratio

Does 2180 pay a reliable dividends?

See 2180 dividend history and benchmarks

When do you need to buy 2180 by to receive an upcoming dividend?
ManpowerGroup Greater China dividend dates
Ex Dividend Date	Jul 04 2022
Dividend Pay Date	Jul 20 2022
Days until Ex dividend	9 days
Days until Dividend pay date	25 days

Does 2180 pay a reliable dividends?

See 2180 dividend history and benchmarks

We’ve recently updated our valuation analysis.

Valuation

Is 2180 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2180?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 2180. This is calculated by dividing 2180's market cap by their current preferred multiple.
What is 2180's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	CN¥1.71b

2180 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.2x
Enterprise Value/EBITDA	3.7x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 2180's PE Ratio compare to its peers?

2180 PE Ratio vs Peers

The above table shows the PE ratio for 2180 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	11.2x

Forward PE

Price-To-Earnings vs Peers: 2180 is expensive based on its Price-To-Earnings Ratio (12.3x) compared to the peer average (11.2x).

Price to Earnings Ratio vs Industry

How does 2180's PE Ratio compare vs other companies in the Professional Services Industry?

Price-To-Earnings vs Industry: 2180 is expensive based on its Price-To-Earnings Ratio (12.3x) compared to the Hong Kong Professional Services industry average (8x)

Price to Earnings Ratio vs Fair Ratio

What is 2180's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2180 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 2180's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 2180 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2180 (HK$9.65) is trading above our estimate of fair value (HK$9.1)

Significantly Below Fair Value: 2180 is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2180's PEG Ratio to determine if it is good value.

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Future Growth

How is ManpowerGroup Greater China forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

18.0%

Forecasted Commercial Services industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as ManpowerGroup Greater China has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Examine ManpowerGroup Greater China's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
ManpowerGroup Greater China competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has ManpowerGroup Greater China performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

14.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2180 has a high level of non-cash earnings.

Growing Profit Margin: 2180's current net profit margins (3.5%) are lower than last year (3.9%).

Past Earnings Growth Analysis

Earnings Trend: 2180's earnings have grown by 14.5% per year over the past 5 years.

Accelerating Growth: 2180's earnings growth over the past year (10.1%) is below its 5-year average (14.5% per year).

Earnings vs Industry: 2180 earnings growth over the past year (10.1%) underperformed the Professional Services industry 15.3%.

Return on Equity

High ROE: 2180's Return on Equity (11.5%) is considered low.

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Financial Health

How is ManpowerGroup Greater China's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2180's short term assets (CN¥1.7B) exceed its short term liabilities (CN¥619.4M).

Long Term Liabilities: 2180's short term assets (CN¥1.7B) exceed its long term liabilities (CN¥40.4M).

Debt to Equity History and Analysis

Debt Level: 2180 is debt free.

Reducing Debt: 2180 has no debt compared to 5 years ago when its debt to equity ratio was 0%.

Debt Coverage: 2180 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 2180 has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is ManpowerGroup Greater China current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

3.64%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: 2180's dividend (3.64%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.76%).

High Dividend: 2180's dividend (3.64%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.89%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 2180 has been paying a dividend for less than 10 years.

Growing Dividend: 2180's dividend payments have increased, but the company has only paid a dividend for 2 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (44.7%), 2180's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (76.7%), 2180's dividend payments are covered by cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure

CEO

Zhihui Cui (44 yo)

1.25yrs

Tenure

Mr. Zhihui Cui serves as Chief Executive Officer and Executive Director at ManpowerGroup Greater China Limited since March 31, 2021. Mr. Cui served as Chief Financial Officer at ManpowerGroup Greater China...

Leadership Team

Experienced Management: 2180's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Experienced Board: 2180's board of directors are considered experienced (3.3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/24 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31