SEHK:1910

Stock Analysis Report

Executive Summary

Samsonite International S.A. engages in the design, manufacture, sourcing, and distribution of travel luggage bags worldwide.


Snowflake Analysis

Good value with moderate growth potential.


Similar Companies

Share Price & News

How has Samsonite International's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1910's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

31.3%

1910

12.5%

HK Luxury

7.4%

HK Market


1 Year Return

-71.6%

1910

-21.7%

HK Luxury

-22.7%

HK Market

Return vs Industry: 1910 underperformed the Hong Kong Luxury industry which returned -19.4% over the past year.

Return vs Market: 1910 underperformed the Hong Kong Market which returned -20.3% over the past year.


Shareholder returns

1910IndustryMarket
7 Day31.3%12.5%7.4%
30 Day-45.3%-13.3%-11.2%
90 Day-60.5%-25.7%-17.3%
1 Year-70.4%-71.6%-19.5%-21.7%-19.9%-22.7%
3 Year-71.7%-73.8%10.1%-2.9%-5.3%-14.8%
5 Year-68.7%-72.3%10.9%-6.7%-8.7%-23.4%

Price Volatility Vs. Market

How volatile is Samsonite International's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Samsonite International undervalued compared to its fair value and its price relative to the market?

41.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 1910 (HK$7.03) is trading below our estimate of fair value (HK$12.63)

Significantly Below Fair Value: 1910 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 1910 is poor value based on its PE Ratio (9.8x) compared to the Luxury industry average (7.3x).

PE vs Market: 1910 is poor value based on its PE Ratio (9.8x) compared to the Hong Kong market (9x).


Price to Earnings Growth Ratio

PEG Ratio: 1910 is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: 1910 is good value based on its PB Ratio (0.7x) compared to the HK Luxury industry average (0.7x).


Next Steps

Future Growth

How is Samsonite International forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

21.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1910's forecast earnings growth (21.7% per year) is above the savings rate (1.6%).

Earnings vs Market: 1910's earnings (21.7% per year) are forecast to grow faster than the Hong Kong market (12.8% per year).

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

Revenue vs Market: 1910's revenue (0.5% per year) is forecast to grow slower than the Hong Kong market (9.9% per year).

High Growth Revenue: 1910's revenue (0.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1910's Return on Equity is forecast to be low in 3 years time (10.3%).


Next Steps

Past Performance

How has Samsonite International performed over the past 5 years?

5.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1910 has a large one-off loss of $106.0M impacting its December 31 2019 financial results.

Growing Profit Margin: 1910's current net profit margins (3.6%) are lower than last year (6.2%).


Past Earnings Growth Analysis

Earnings Trend: 1910's earnings have grown by 5% per year over the past 5 years.

Accelerating Growth: 1910's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1910 had negative earnings growth (-44%) over the past year, making it difficult to compare to the Luxury industry average (-0.2%).


Return on Equity

High ROE: 1910's Return on Equity (7.7%) is considered low.


Next Steps

Financial Health

How is Samsonite International's financial position?


Financial Position Analysis

Short Term Liabilities: 1910's short term assets ($1.5B) exceed its short term liabilities ($1.1B).

Long Term Liabilities: 1910's short term assets ($1.5B) do not cover its long term liabilities ($2.5B).


Debt to Equity History and Analysis

Debt Level: 1910's debt to equity ratio (87.7%) is considered high.

Reducing Debt: 1910's debt to equity ratio has increased from 5% to 87.7% over the past 5 years.

Debt Coverage: 1910's debt is well covered by operating cash flow (32.8%).

Interest Coverage: 1910's interest payments on its debt are well covered by EBIT (4.2x coverage).


Balance Sheet

Inventory Level: 1910 has a high level of physical assets or inventory.

Debt Coverage by Assets: 1910's debt is not covered by short term assets (assets are 0.9x debt).


Next Steps

Dividend

What is Samsonite International's current dividend yield, its reliability and sustainability?

3.65%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 1910's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 1910's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 1910's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 1910's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 1910 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 1910's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Kyle Gendreau (49yo)

1.83s

Tenure

US$3,200,000

Compensation

Mr. Kyle Francis Gendreau has been Chief Executive Officer and Executive Director of Samsonite International S.A. since May 31, 2018 and March 2011 respectively, where he is responsible for the overall str ...


CEO Compensation Analysis

Compensation vs Market: Kyle's total compensation ($USD3.20M) is above average for companies of similar size in the Hong Kong market ($USD445.47K).

Compensation vs Earnings: Kyle's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Kyle Gendreau
CEO & Executive Director1.83yrsUS$3.20m0.11% $12.0m
Thomas Korbas
Consultant for North America Business & Non-Executive Director5.67yrsUS$200.00k0.049% $5.1m
Reza Taleghani
Chief Financial Officer1.25yrsno datano data
Andrew Wells
Chief Information Officerno datano datano data
William Yue
Director of Investor Relationsno datano datano data
John Livingston
Executive VPno datano datano data
Marjorie Whitlock
Senior Vice President of Global Human Resources2.67yrsno datano data
Fabio Rugarli
President of Europe3.17yrsno datano data
Robert Zielinski
Chief Supply Officer12.17yrsno datano data
Paul Melkebeke
Chief Supply Officer2.83yrsno datano data

2.8yrs

Average Tenure

57yo

Average Age

Experienced Management: 1910's management team is considered experienced (2.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kyle Gendreau
CEO & Executive Director1.83yrsUS$3.20m0.11% $12.0m
Thomas Korbas
Consultant for North America Business & Non-Executive Director5.67yrsUS$200.00k0.049% $5.1m
Bruce McLain
Independent Non-Executive Director8.83yrsUS$100.00k0.062% $6.5m
Keith Hamill
Independent Non-Executive Director8.83yrsUS$200.00k0.014% $1.4m
Timothy Parker
Non-Executive Chairman9yrsUS$500.00k3.94% $416.6m
Ying Yeh
Independent Non Executive Director8.83yrsUS$100.00k0.00021% $22.2k
Jerome Griffith
Independent Non-Executive Director3.42yrsUS$100.00kno data
Paul Kenneth Etchells
Independent Non-Executive Director8.83yrsUS$200.00k0.0070% $736.9k

8.8yrs

Average Tenure

65yo

Average Age

Experienced Board: 1910's board of directors are considered experienced (8.8 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

Samsonite International S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Samsonite International S.A.
  • Ticker: 1910
  • Exchange: SEHK
  • Founded: 1910
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: HK$10.572b
  • Shares outstanding: 1.43b
  • Website: https://www.samsonite.com/investors

Number of Employees


Location

  • Samsonite International S.A.
  • 13-15 avenue de la Liberté
  • Luxembourg City
  • 1931
  • Luxembourg

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1910SEHK (The Stock Exchange of Hong Kong Ltd.)YesCommon StockHKHKDJun 2011
SMSO.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJun 2011
1SODB (Deutsche Boerse AG)YesCommon StockDEEURJun 2011
SMSE.YOTCPK (Pink Sheets LLC)UNSPON ADRUSUSDNov 2012

Biography

Samsonite International S.A. engages in the design, manufacture, sourcing, and distribution of travel luggage bags worldwide. It offers luggage, business, computer, outdoor, casual, and women’s bags, as well as travel accessories and slim protective cases for personal electronic devices under the Samsonite, Tumi, American Tourister, Speck, High Sierra, Gregory, Lipault, Kamiliant, Hartmann, and eBags brands, as well as other owned and licensed brand names. The company sells its products through various wholesale distribution channels, including department and specialty retail stores, mass merchants, and warehouse clubs, as well as through company operated retail stores and e-commerce in North America, Asia, Europe, and Latin America. Samsonite International S.A. was founded in 1910 and is headquartered in Luxembourg City, Luxembourg. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 13:48
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
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.