SEHK:2180

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ManpowerGroup Greater China

Executive Summary

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


Snowflake Analysis

Flawless balance sheet with solid track record.

Share Price & News

How has ManpowerGroup Greater China's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2180 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 2180's weekly volatility (7%) has been stable over the past year.


Market Performance


7 Day Return

6.1%

2180

-6.2%

HK Professional Services

-2.0%

HK Market


1 Year Return

9.6%

2180

-43.0%

HK Professional Services

19.3%

HK Market

Return vs Industry: 2180 exceeded the Hong Kong Professional Services industry which returned -44.5% over the past year.

Return vs Market: 2180 underperformed the Hong Kong Market which returned 15.9% over the past year.


Shareholder returns

2180IndustryMarket
7 Day6.1%-6.2%-2.0%
30 Day-7.2%-9.0%12.0%
90 Day-19.2%-17.6%18.6%
1 Year12.8%9.6%-42.7%-43.0%24.0%19.3%
3 Yearn/a-55.5%-56.5%-3.5%-13.7%
5 Yearn/a-90.8%-91.9%71.5%42.4%

Long-Term Price Volatility Vs. Market

How volatile is ManpowerGroup Greater China's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ManpowerGroup Greater China undervalued compared to its fair value and its price relative to the market?

33.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2180 (HK$11.14) is trading below our estimate of fair value (HK$16.76)

Significantly Below Fair Value: 2180 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2180 is good value based on its PE Ratio (14.8x) compared to the XA Professional Services industry average (22.1x).

PE vs Market: 2180 is poor value based on its PE Ratio (14.8x) compared to the Hong Kong market (11.9x).


Price to Earnings Growth Ratio

PEG Ratio: 2180 is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: 2180's PB Ratio (1.6x) is in line with the HK Professional Services industry average.


Next Steps

Future Growth

How is ManpowerGroup Greater China forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

21.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2180's forecast earnings growth (21.6% per year) is above the savings rate (1.5%).

Earnings vs Market: 2180's earnings (21.6% per year) are forecast to grow faster than the Hong Kong market (21.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 2180's revenue (21.3% per year) is forecast to grow faster than the Hong Kong market (14.4% per year).

High Growth Revenue: 2180's revenue (21.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2180's Return on Equity is forecast to be low in 3 years time (15.4%).


Next Steps

Past Performance

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

18.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2180 has high quality earnings.

Growing Profit Margin: 2180's current net profit margins (4%) are higher than last year (3.2%).


Past Earnings Growth Analysis

Earnings Trend: 2180's earnings have grown by 18% per year over the past 5 years.

Accelerating Growth: 2180's earnings growth over the past year (41%) exceeds its 5-year average (18% per year).

Earnings vs Industry: 2180 earnings growth over the past year (41%) exceeded the Professional Services industry -2.6%.


Return on Equity

High ROE: 2180's Return on Equity (10.9%) is considered low.


Next Steps

Financial Health

How is ManpowerGroup Greater China's financial position?


Financial Position Analysis

Short Term Liabilities: 2180's short term assets (CN¥1.5B) exceed its short term liabilities (CN¥507.5M).

Long Term Liabilities: 2180's short term assets (CN¥1.5B) exceed its long term liabilities (CN¥46.4M).


Debt to Equity History and Analysis

Debt Level: 2180 is debt free.

Reducing Debt: 2180 had no debt 5 years ago.

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


Next Steps

Dividend

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

2.42%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2180's dividend (2.42%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.07%).

High Dividend: 2180's dividend (2.42%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.62%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether 2180's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if 2180's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.2%), 2180's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2180's dividends in 3 years are forecast to be well covered by earnings (45% payout ratio).


Next Steps

Management

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

3.5yrs

Average management tenure


CEO

Jianhua Yuan (44 yo)

5.33yrs

Tenure

Mr. Yuan Jianhua is the Director of ManpowerGroup Greater China Ltd from September 26, 2014 and re-designated as our executive Director on January 18, 2019. Mr. Yuan is primarily responsible for formulatin...


Leadership Team

NamePositionTenureCompensationOwnership
Jianhua Yuan
CEO, President & Executive Director5.33yrsno data0.099%
CN¥ 2.3m
Zhihui Cui
Chief Financial Officer5yrsno datano data
Serena Li
Head of Investor Relationsno datano datano data
Xingyue Gao
Joint Company Secretary2yrsno datano data
Sum Yi Tsui
Joint Company Secretary0.33yrno datano data

3.5yrs

Average Tenure

44yo

Average Age

Experienced Management: 2180's management team is considered experienced (3.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jianhua Yuan
CEO, President & Executive Director5.33yrsno data0.099%
CN¥ 2.3m
Darryl E. Green
Chairman5.42yrsno datano data
Eng Leong Yeoh
Independent Non-Executive Director1.83yrsno datano data
John McGinnis
Non Executive Director0.58yrno datano data
Man Lai Wong
Independent Non-Executive Director1.83yrsno datano data
Yinghao Zhang
Non-Executive Director5.42yrsno datano data
Victor Huang
Independent Non-Executive Director1.83yrsno datano data
Feng Zhai
Non-Executive Director5.42yrsno datano data

3.6yrs

Average Tenure

51yo

Average Age

Experienced Board: 2180's board of directors are considered experienced (3.6 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.


Top Shareholders

Company Information

ManpowerGroup Greater China Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ManpowerGroup Greater China Limited
  • Ticker: 2180
  • Exchange: SEHK
  • Founded: 1997
  • Industry: Human Resource and Employment Services
  • Sector: Commercial Services
  • Market Cap: HK$2.316b
  • Shares outstanding: 207.50m
  • Website: https://www.manpowergroupgrc.com

Number of Employees


Location

  • ManpowerGroup Greater China Limited
  • Xin Mei Union Square
  • 36th Floor, Building A
  • Shanghai
  • Shanghai Province
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2180SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJul 2019

Biography

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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/27 10:22
End of Day Share Price2021/01/27 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.