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Xtep International Holdings

SEHK:1368
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1368
SEHK
HK$11B
Market Cap
  1. Home
  2. HK
  3. Consumer Durables
Company description

Xtep International Holdings Limited engages in the design, development, manufacture, sale, and marketing and brand management of sports footwear, apparel, and accessories. The last earnings update was 68 days ago. More info.


Add to Portfolio Compare Print
  • Xtep International Holdings has significant price volatility in the past 3 months.
1368 Share Price and Events
7 Day Returns
-6.5%
SEHK:1368
-3.6%
HK Luxury
-2.5%
HK Market
1 Year Returns
-8.8%
SEHK:1368
-12.2%
HK Luxury
-15.9%
HK Market
1368 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Xtep International Holdings (1368) -6.5% -8.4% -12.7% -8.8% 10.9% 36.2%
HK Luxury -3.6% -6.2% 1.2% -12.2% 19.3% 3.1%
HK Market -2.5% -8.6% -2.1% -15.9% 25.4% 7.8%
1 Year Return vs Industry and Market
  • 1368 outperformed the Luxury industry which returned -12.2% over the past year.
  • 1368 outperformed the Market in Hong Kong which returned -15.9% over the past year.
Price Volatility
1368
Industry
5yr Volatility vs Market

1368 Value

 Is Xtep International 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 Xtep International 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 Xtep International Holdings.

SEHK:1368 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
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:1368
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.722 (1 + (1- 25%) (19.73%))
0.885
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.885 * 5.96%)
7.28%

Discounted Cash Flow Calculation for SEHK:1368 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Xtep International 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:1368 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.28%)
2019 836.33 Analyst x3 779.58
2020 729.50 Analyst x4 633.85
2021 835.00 Analyst x5 676.28
2022 914.00 Analyst x1 690.02
2023 998.00 Analyst x1 702.30
2024 1,065.42 Est @ 6.76% 698.87
2025 1,122.21 Est @ 5.33% 686.16
2026 1,170.82 Est @ 4.33% 667.30
2027 1,213.36 Est @ 3.63% 644.61
2028 1,251.50 Est @ 3.14% 619.76
Present value of next 10 years cash flows CN¥6,798.72
SEHK:1368 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥1,251.50 × (1 + 2%) ÷ (7.28% – 2%)
CN¥24,188.73
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥24,188.73 ÷ (1 + 7.28%)10
CN¥11,978.52
SEHK:1368 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥6,798.72 + CN¥11,978.52
CN¥18,777.25
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥18,777.25 / 2,494.71
CN¥7.53
SEHK:1368 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1368)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥7.53 x 1.135
HK$8.54
Value per share (HKD) From above. HK$8.54
Current discount Discount to share price of HK$4.48
= -1 x (HK$4.48 - HK$8.54) / HK$8.54
47.5%

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

Current Discount
Amount off the current price Xtep International Holdings is available for.
Intrinsic value
48%
Share price is HK$4.48 vs Future cash flow value of HK$8.54
Current Discount Checks
For Xtep International Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Xtep International Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Xtep International Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Xtep International Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Xtep International Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1368 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.30
SEHK:1368 Share Price ** SEHK (2019-05-17) in HKD HK$4.48
SEHK:1368 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥3.95
Hong Kong Luxury Industry PE Ratio Median Figure of 77 Publicly-Listed Luxury Companies 10.43x
Hong Kong Market PE Ratio Median Figure of 1,476 Publicly-Listed Companies 11.17x

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

** Primary Listing of Xtep International Holdings.

SEHK:1368 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1368 Share Price ÷ EPS (both in CNY)

= 3.95 ÷ 0.30

13.08x

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

  • Xtep International Holdings is overvalued based on earnings compared to the HK Luxury industry average.
  • Xtep International Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Xtep International Holdings's expected growth come at a high price?
Raw Data
SEHK:1368 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
15.4%per year
Hong Kong Luxury Industry PEG Ratio Median Figure of 23 Publicly-Listed Luxury Companies 0.87x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

SEHK:1368 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.08x ÷ 15.4%

0.85x

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

  • Xtep International Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Xtep International Holdings's assets?
Raw Data
SEHK:1368 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥2.45
SEHK:1368 Share Price * SEHK (2019-05-17) in HKD HK$4.48
SEHK:1368 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥3.95
Hong Kong Luxury Industry PB Ratio Median Figure of 122 Publicly-Listed Luxury Companies 1.1x
Hong Kong Market PB Ratio Median Figure of 2,155 Publicly-Listed Companies 0.97x
SEHK:1368 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1368 Share Price ÷ Book Value per Share (both in CNY)

= 3.95 ÷ 2.45

1.61x

* Primary Listing of Xtep International Holdings.

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

  • Xtep International Holdings is overvalued based on assets compared to the HK Luxury industry average.
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Value checks
We assess Xtep International 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 Luxury 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 Luxury industry average (and greater than 0)? (1 check)
  5. Xtep International Holdings 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.

1368 Future Performance

 How is Xtep International Holdings expected to perform in the next 1 to 3 years based on estimates from 14 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
15.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Xtep International Holdings expected to grow at an attractive rate?
  • Xtep International Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Xtep International Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Xtep International Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1368 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1368 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 15.4%
SEHK:1368 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 13.4%
Hong Kong Luxury Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
Hong Kong Luxury Industry Revenue Growth Rate Market Cap Weighted Average 11.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.7%

*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:1368 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1368 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 9,616 1,059 1,057 12
2020-12-31 8,630 809 926 14
2019-12-31 7,549 869 800 14
SEHK:1368 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 6,383 154 657
2018-09-30 5,957 511 565
2018-06-30 5,532 867 473
2018-03-31 5,323 712 441
2017-12-31 5,113 558 408
2017-09-30 5,143 294 433
2017-06-30 5,173 30 458
2017-03-31 5,285 188 493
2016-12-31 5,397 346 528
2016-09-30 5,418 758 593
2016-06-30 5,439 1,171 659
2016-03-31 5,367 979 641

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Xtep International Holdings's earnings are expected to grow by 15.4% yearly, however this is not considered high growth (20% yearly).
  • Xtep International Holdings's revenue is expected to grow by 13.4% 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:1368 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 14 Analyst Estimates (S&P Global) See Below

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

SEHK:1368 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.44 0.48 0.40 10.00
2020-12-31 0.39 0.43 0.36 12.00
2019-12-31 0.34 0.37 0.32 12.00
SEHK:1368 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.30
2018-09-30 0.26
2018-06-30 0.22
2018-03-31 0.20
2017-12-31 0.19
2017-09-30 0.20
2017-06-30 0.21
2017-03-31 0.22
2016-12-31 0.24
2016-09-30 0.27
2016-06-30 0.30
2016-03-31 0.30

*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.
  • Xtep International Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Xtep International 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.
Xtep International Holdings has a total score of 3/6, 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.

1368 Past Performance

  How has Xtep International 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 Xtep International Holdings's growth in the last year to its industry (Luxury).
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.
  • Xtep International Holdings's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Xtep International Holdings's 1-year earnings growth exceeds its 5-year average (60.9% vs -2.3%)
  • Xtep International Holdings's earnings growth has exceeded the HK Luxury industry average in the past year (60.9% vs 2.5%).
Earnings and Revenue History
Xtep International 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 Xtep International Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1368 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 6,383.17 656.52 1,979.65
2018-09-30 5,957.38 564.76 1,824.40
2018-06-30 5,531.60 473.00 1,669.15
2018-03-31 5,322.51 440.57 1,613.31
2017-12-31 5,113.43 408.14 1,557.47
2017-09-30 5,143.13 433.12 1,569.85
2017-06-30 5,172.82 458.09 1,582.24
2017-03-31 5,284.72 492.97 1,547.59
2016-12-31 5,396.62 527.85 1,512.95
2016-09-30 5,417.85 593.50 1,481.27
2016-06-30 5,439.08 659.14 1,449.59
2016-03-31 5,367.10 640.87 1,455.12
2015-12-31 5,295.12 622.60 1,460.65
2015-09-30 5,164.20 579.95 1,404.45
2015-06-30 5,033.29 537.31 1,348.26
2015-03-31 4,905.47 507.66 1,317.63
2014-12-31 4,777.65 478.01 1,287.01
2014-09-30 4,578.88 513.66 1,193.52
2014-06-30 4,380.12 549.32 1,100.03
2014-03-31 4,361.61 577.64 1,055.23
2013-12-31 4,343.11 605.97 1,010.43
2013-09-30 4,692.01 644.54 1,065.51
2013-06-30 5,040.91 683.11 1,120.60
2013-03-31 5,295.59 746.56 1,157.32
2012-12-31 5,550.27 810.02 1,194.05
2012-09-30 5,563.47 889.00 1,126.36
2012-06-30 5,576.68 967.98 1,058.67

*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.
  • Xtep International Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Xtep International Holdings used its assets more efficiently than the HK Luxury industry average last year based on Return on Assets.
  • Xtep International Holdings's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Xtep International 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 Luxury 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.
Xtep International Holdings has a total score of 3/6, 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.

1368 Health

 How is Xtep International 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 Xtep International Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Xtep International Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Xtep International Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Xtep International 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 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 Xtep International Holdings Company Filings, last reported 4 months ago.

SEHK:1368 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,330.97 1,943.65 4,175.81
2018-09-30 5,330.97 1,943.65 4,175.81
2018-06-30 5,515.77 1,978.10 4,696.55
2018-03-31 5,515.77 1,978.10 4,696.55
2017-12-31 5,328.61 1,850.02 4,727.27
2017-09-30 5,328.61 1,850.02 4,727.27
2017-06-30 5,283.53 1,613.75 3,951.44
2017-03-31 5,283.53 1,613.75 3,951.44
2016-12-31 5,022.76 1,508.32 3,446.53
2016-09-30 5,022.76 1,508.32 3,446.53
2016-06-30 5,094.84 1,554.53 3,670.30
2016-03-31 5,094.84 1,554.53 3,670.30
2015-12-31 4,871.71 1,610.56 3,707.00
2015-09-30 4,871.71 1,610.56 3,707.00
2015-06-30 4,793.26 2,153.35 3,746.33
2015-03-31 4,793.26 2,153.35 3,746.33
2014-12-31 4,710.35 1,853.01 3,755.44
2014-09-30 4,710.35 1,853.01 3,755.44
2014-06-30 4,629.62 1,756.08 3,259.74
2014-03-31 4,629.62 1,756.08 3,259.74
2013-12-31 4,507.64 1,541.72 3,665.47
2013-09-30 4,507.64 1,541.72 3,665.47
2013-06-30 4,398.85 1,329.44 3,691.81
2013-03-31 4,398.85 1,329.44 3,691.81
2012-12-31 4,279.78 1,057.45 3,454.29
2012-09-30 4,279.78 1,057.45 3,454.29
2012-06-30 4,138.33 779.83 3,074.60
  • Xtep International Holdings's level of debt (36.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (34.2% vs 36.5% today).
  • Debt is not well covered by operating cash flow (7.9%, less than 20% of total debt).
  • Xtep International Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Xtep International 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. Xtep International Holdings has a total score of 4/6, 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.

1368 Dividends

 What is Xtep International 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
4.43%
Current annual income from Xtep International Holdings dividends. Estimated to be 5.73% next year.
If you bought HK$2,000 of Xtep International Holdings shares you are expected to receive HK$89 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?
  • Xtep International Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.07%).
  • Xtep International Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.72%).
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:1368 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 14 Analyst Estimates (S&P Global) See Below
Hong Kong Luxury Industry Average Dividend Yield Market Cap Weighted Average of 57 Stocks 2.9%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 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:1368 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.26 9.00
2020-12-31 0.23 12.00
2019-12-31 0.20 12.00
SEHK:1368 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-27 0.175 4.084
2018-08-22 0.209 5.121
2018-05-07 0.191 4.510
2017-08-24 0.126 4.742
2017-07-17 0.123 4.769
2017-03-17 0.143 5.414
2016-08-22 0.178 5.774
2016-03-23 0.170 4.819
2015-05-15 0.107 3.631
2014-05-15 0.126 5.085
2013-08-23 0.159 5.456
2013-03-15 0.189 7.211
2012-08-21 0.226 9.051
2012-05-03 0.236 10.308
2011-08-16 0.210 8.997
2011-03-21 0.197 4.692
2010-08-23 0.219 4.377
2010-03-01 0.194 3.758
2009-09-10 0.124 3.280

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 Xtep International Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x 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 Xtep International 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 Xtep International Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Xtep International 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.

1368 Management

 What is the CEO of Xtep International 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
Shui Ding
COMPENSATION CN¥957,000
AGE 47
CEO Bio

Mr. Shui Po Ding founded XTEP International Holdings Limited in 1999 and serves as its Chairman and Chief Executive Officer. Mr. Ding is the Founder of XTEP (China) Co., Ltd. and serves as its chief executive officer. He is primarily responsible for the overall corporate strategies, planning and business development of XTEP International Holdings Ltd. He established Sanxing Sports in 1999 and has been its Chairman of the Board of Directors since its establishment. He has over 20 years of experience in the sportswear industry. He was an entrepreneur in the sportswear industry in the PRC. He also served as President of Xtep (China) and Koling (Fujian) since their establishments in 2002 and 2007, respectively and was responsible for the overall corporate strategies, planning and business development of the two companies. From 1999 to 2007, he served as the Chairman of the Board of Directors of Xtep Jinjiang, Koling (Fujian) and Xtep (China), respectively. He is a Member of (The 10th Quanzhou City Fujian Provincial Committee of the Chinese People’s Political Consultative Conference) and (the chairman of the 3rd Executive Committee Quanzhou Footwear Chamber). He was named as the title of one of (The Outstanding Young Entrepreneurs in Quanzhou). He received many awards including Outstanding Young Entrepreneur in Quanzhou in 2002, Top 100 Individuals in PRC's Economic Development in 2003 , Top 10 Most Influential Entrepreneurs in China in 2004, Fujian Young Entrepreneurs Achievement Award in 2005, Fujian May 4th Youth Medal in 2007, CAPITAL Leaders of Excellence in China 2008, Outstanding Young Entrepreneur in Fujian in 2008 and Top 30 Quanzhou Outstanding Economic Figures in 30 Years of China's Reform in 2008. Mr. Ding participated in entrepreneurship programmes offered by (Peking University) and (Tsinghua University) in 2004 and 2006, respectively.

CEO Compensation
  • Shui's compensation has been consistent with company performance over the past year.
  • Shui's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team

Shui Ding

TITLE
Founder
COMPENSATION
CN¥957K
AGE
47

Mei Ding

TITLE
VP & Executive Director
COMPENSATION
CN¥484K
AGE
45

Ming Ding

TITLE
VP & Executive Director
COMPENSATION
CN¥484K
AGE
41

Lo Yeung

TITLE
CFO & Company Secretary
AGE
40
TENURE
1.7 yrs
Board of Directors Tenure

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

11.3
Average Tenure
51
Average Age
  • The average tenure for the Xtep International Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Shui Ding

TITLE
Founder
COMPENSATION
CN¥957K
AGE
47
TENURE
12.1 yrs

Mei Ding

TITLE
VP & Executive Director
COMPENSATION
CN¥484K
AGE
45
TENURE
11.3 yrs

Ming Ding

TITLE
VP & Executive Director
COMPENSATION
CN¥484K
AGE
41
TENURE
11.3 yrs

Xian Gao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥180K
AGE
55
TENURE
11.3 yrs

Wee Seng Tan

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥556K
AGE
62
TENURE
9.2 yrs

Ming Bao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥180K
AGE
55
TENURE
6.4 yrs
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$) Value (HK$)
15. May 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 09. May 19 09. May 19 -17,765,238 HK$4.82 HK$-85,623,135
15. May 19 Buy Highbridge Capital Management, LLC Company 09. May 19 09. May 19 2,500 HK$4.82 HK$12,049
13. May 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 08. May 19 08. May 19 11,878,238 HK$5.15 HK$61,170,545
23. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 18. Apr 19 18. Apr 19 -23,064,500 HK$4.89 HK$-112,898,492
17. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 12. Apr 19 12. Apr 19 -4,536,000 HK$4.97 HK$-22,561,143
17. Apr 19 Buy Highbridge Capital Management, LLC Company 12. Apr 19 12. Apr 19 10,500 HK$4.97 HK$52,225
16. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 11. Apr 19 11. Apr 19 -3,625,000 HK$5.05 HK$-18,298,646
11. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 08. Apr 19 08. Apr 19 4,542,000 HK$5.23 HK$23,731,949
05. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 02. Apr 19 02. Apr 19 30,937,001 HK$5.58 HK$172,662,409
08. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. Apr 19 03. Apr 19 -592,000 HK$5.48 HK$-3,243,034
08. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. Apr 19 03. Apr 19 1,997 HK$5.48 HK$10,940
08. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 03. Apr 19 03. Apr 19 2,500 HK$5.48 HK$13,695
08. Apr 19 Sell Highbridge Capital Management, LLC Company 03. Apr 19 03. Apr 19 -100,000 HK$5.48 HK$-547,810
02. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 28. Mar 19 28. Mar 19 8,993,499 HK$6.45 HK$57,986,516
27. Jun 18 Buy Shui Ding Individual 26. Jun 18 26. Jun 18 1,000,000 HK$5.37 HK$5,374,698
26. Jun 18 Buy Shui Ding Individual 25. Jun 18 25. Jun 18 1,724,500 HK$5.21 HK$8,988,270
X
Management checks
We assess Xtep International 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. Xtep International 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.

1368 News

Simply Wall St News

What Kind Of Shareholder Owns Most Xtep International Holdings Limited (HKG:1368) Stock?

Our analysis of the ownership of the company, below, shows that institutions own shares in the company. … Check out our latest analysis for Xtep International Holdings SEHK:1368 Ownership Summary, May 13th 2019 What Does The Institutional Ownership Tell Us About Xtep International Holdings? … Insider Ownership Of Xtep International Holdings The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Is Xtep International Holdings Limited's (HKG:1368) Growth Strong Enough To Justify Its May Share Price?

Looking at Xtep International Holdings Limited’s (HKG:1368) fundamentals some investors are wondering if its last closing price of HK$5.07 represents a good value for money for this high growth stock. … See our latest analysis for Xtep International Holdings? … Investors in Xtep International Holdings have been patiently waiting for the uptick in earnings.

Simply Wall St -

Xtep International Holdings Limited (HKG:1368): Are Analysts Bullish?

The most recent earnings announcement Xtep International Holdings Limited's (HKG:1368) released in December 2018a

Simply Wall St -

How Many Xtep International Holdings Limited (HKG:1368) Shares Did Insiders Buy, In The Last Year?

That means that an insider was happy to buy shares at above the current price of HK$4.95. … In our view, the price an insider pays for shares is very important. … It is encouraging to see an insider paid above the current price for shares, as it suggests they saw value, even at higher levels

Simply Wall St -

These Factors Make Xtep International Holdings Limited (HKG:1368) An Interesting Investment

Xtep International Holdings Limited (HKG:1368) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … that has been able to sustain great financial health over the past

Simply Wall St -

How Does Xtep International Holdings Limited (HKG:1368) Fare As A Dividend Stock?

Historically, Xtep International Holdings Limited (HKG:1368) has been paying a dividend to shareholders. … Does Xtep International Holdings tick all the boxes of a great dividend stock? … Check out our latest analysis for Xtep International Holdings

Simply Wall St -

Xtep International Holdings Limited (HKG:1368): What Are The Future Prospects?

As Xtep International Holdings Limited (HKG:1368) released its earnings announcement on 31 December 2018, … it seems that analyst forecasts are fairly optimistic, … the past 5-year average growth rate of -2.3%.

Simply Wall St -

Should You Be Pleased About The CEO Pay At Xtep International Holdings Limited's (HKG:1368)

The CEO of Xtep International Holdings Limited (HKG:1368) is Shui Ding. … First, this article will compare CEO compensation with compensation at similar sized companies. … Our data indicates that Xtep International Holdings Limited is worth HK$12b, and total annual CEO compensation is CN¥953k.

Simply Wall St -

Investors Who Bought Xtep International Holdings Shares Three Years Ago Are Now Up 59%

For example, the Xtep International Holdings Limited (HKG:1368) share price is up 59% in the last three years, clearly besting than the market return of around 31% (not including dividends). … During the three years of share price growth, Xtep International Holdings actually saw its earnings per share (EPS) drop 3.8% per year. … Companies are not always focussed on EPS growth in the short term, and looking at how the share price has reacted, we don't think EPS is the most important metric for Xtep International Holdings at the moment.

Simply Wall St -

Is Xtep International Holdings Limited's (HKG:1368) High P/E Ratio A Problem For Investors?

Xtep International Holdings has a price to earnings ratio of 20.08, based on the last twelve months. … How Do I Calculate Xtep International Holdings's Price To Earnings Ratio … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS)

Simply Wall St -

1368 Company Info

Description

Xtep International Holdings Limited engages in the design, development, manufacture, sale, and marketing and brand management of sports footwear, apparel, and accessories. The company sells its products primarily under the XTEP brand. It is also involved in the trading of sportswear products. The company manages an extensive distribution network with exclusive distributors that operate approximately 6,200 stores covering 31 provinces, autonomous regions, and municipalities in the People's Republic of China. It also offers its products online. The company was founded in 1999 and is headquartered in Xiamen, the People's Republic of China. Xtep International Holdings Limited is a subsidiary of Group Success Investments Limited.

Details
Name: Xtep International Holdings Limited
1368
Exchange: SEHK
Founded: 1999
HK$11,176,291,840
2,494,708,000
Website: http://www.xtep.com.hk
Address: Xtep International Holdings Limited
Xiamen Xtep Tower,
No. 89 Jiayi Road,
Xiamen,
Fujian Province, 361008,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1368 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 03. Jun 2008
OTCPK XTPE.F Ordinary Shares Pink Sheets LLC US USD 03. Jun 2008
DB 4QI Ordinary Shares Deutsche Boerse AG DE EUR 03. Jun 2008
SHSC 1368 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 03. Jun 2008
SZSC 1368 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 03. Jun 2008
OTCPK XTEP.Y UNSPONSORD ADR Pink Sheets LLC US USD 24. Dec 2008
Number of employees
Current staff
Staff numbers
8,500
Xtep International Holdings employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 12:53
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/03/12
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.