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1999

Man Wah Holdings SEHK:1999 Stock Report

Last Price

HK$8.15

Market Cap

HK$32.0b

7D

14.1%

1Y

-57.2%

Updated

24 Jun, 2022

Data

Company Financials +
1999 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance4/6
Financial Health5/6
Dividends3/6

1999 Stock Overview

Man Wah Holdings Limited, an investment holding company, engages in the manufacture, wholesale, trading, and distribution of sofas and ancillary products in the People's Republic of China, North America, Europe, and internationally.

Man Wah Holdings Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Man Wah Holdings
Historical stock prices
Current Share PriceHK$8.15
52 Week HighHK$19.50
52 Week LowHK$6.56
Beta1.94
1 Month Change12.88%
3 Month Change-3.89%
1 Year Change-57.15%
3 Year Change136.92%
5 Year Change16.26%
Change since IPO386.57%

Recent News & Updates

Jun 16
Does Man Wah Holdings (HKG:1999) Have A Healthy Balance Sheet?

Does Man Wah Holdings (HKG:1999) Have A Healthy Balance Sheet?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

May 12
Should You Be Adding Man Wah Holdings (HKG:1999) To Your Watchlist Today?

Should You Be Adding Man Wah Holdings (HKG:1999) To Your Watchlist Today?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

1999HK Consumer DurablesHK Market
7D14.1%1.2%1.2%
1Y-57.2%-52.3%-23.3%

Return vs Industry: 1999 underperformed the Hong Kong Consumer Durables industry which returned -52.3% over the past year.

Return vs Market: 1999 underperformed the Hong Kong Market which returned -23.3% over the past year.

Price Volatility

Is 1999's price volatile compared to industry and market?
1999 volatility
1999 Average Weekly Movement9.9%
Consumer Durables Industry Average Movement7.0%
Market Average Movement7.0%
10% most volatile stocks in HK Market13.7%
10% least volatile stocks in HK Market3.3%

Stable Share Price: 1999 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: 1999's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199228,685Man Li Wonghttps://www.manwahholdings.com

Man Wah Holdings Limited, an investment holding company, engages in the manufacture, wholesale, trading, and distribution of sofas and ancillary products in the People's Republic of China, North America, Europe, and internationally. The company operates through Sofa and Ancillary Products, Other Products, Other Business, and Home Group Business segments. It offers mattresses, smart furniture spare parts, and metal mechanism for recliners.

Man Wah Holdings Fundamentals Summary

How do Man Wah Holdings's earnings and revenue compare to its market cap?
1999 fundamental statistics
Market CapHK$32.02b
Earnings (TTM)HK$2.25b
Revenue (TTM)HK$21.50b

14.2x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1999 income statement (TTM)
RevenueHK$21.50b
Cost of RevenueHK$13.61b
Gross ProfitHK$7.89b
Other ExpensesHK$5.64b
EarningsHK$2.25b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.57
Gross Margin36.71%
Net Profit Margin10.46%
Debt/Equity Ratio34.0%

How did 1999 perform over the long term?

See historical performance and comparison

Dividends

3.7%

Current Dividend Yield

53%

Payout Ratio

Does 1999 pay a reliable dividends?

See 1999 dividend history and benchmarks
When do you need to buy 1999 by to receive an upcoming dividend?
Man Wah Holdings dividend dates
Ex Dividend DateJul 05 2022
Dividend Pay DateJul 21 2022
Days until Ex dividend10 days
Days until Dividend pay date26 days

Does 1999 pay a reliable dividends?

See 1999 dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is 1999 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 1999?

Other financial metrics that can be useful for relative valuation.

1999 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/Revenue1.6x
Enterprise Value/EBITDA10.1x
PEG Ratio0.9x

Price to Earnings Ratio vs Peers

How does 1999's PE Ratio compare to its peers?

1999 PE Ratio vs Peers
The above table shows the PE ratio for 1999 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average28.5x

Price-To-Earnings vs Peers: 1999 is good value based on its Price-To-Earnings Ratio (14.2x) compared to the peer average (28.5x).


Price to Earnings Ratio vs Industry

How does 1999's PE Ratio compare vs other companies in the Hong Kong Consumer Durables Industry?

Price-To-Earnings vs Industry: 1999 is expensive based on its Price-To-Earnings Ratio (14.2x) compared to the Hong Kong Consumer Durables industry average (8.7x)


Price to Earnings Ratio vs Fair Ratio

What is 1999'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.

1999 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.2x
Fair PE Ratio13.9x

Price-To-Earnings vs Fair Ratio: 1999 is expensive based on its Price-To-Earnings Ratio (14.2x) compared to the estimated Fair Price-To-Earnings Ratio (13.9x).


Share Price vs Fair Value

What is the Fair Price of 1999 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1999 (HK$8.15) is trading below our estimate of fair value (HK$23.08)

Significantly Below Fair Value: 1999 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: 1999 is good value based on its PEG Ratio (0.9x)


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Future Growth

How is Man Wah Holdings forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


16.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1999's forecast earnings growth (16.1% per year) is above the savings rate (1.5%).

Earnings vs Market: 1999's earnings (16.1% per year) are forecast to grow slower than the Hong Kong market (16.8% per year).

High Growth Earnings: 1999's earnings are forecast to grow, but not significantly.

Revenue vs Market: 1999's revenue (13.4% per year) is forecast to grow faster than the Hong Kong market (10.1% per year).

High Growth Revenue: 1999's revenue (13.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1999's Return on Equity is forecast to be high in 3 years time (22%)


Discover growth companies

Past Performance

How has Man Wah Holdings performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


7.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1999 has high quality earnings.

Growing Profit Margin: 1999's current net profit margins (10.5%) are lower than last year (11.7%).


Past Earnings Growth Analysis

Earnings Trend: 1999's earnings have grown by 7.1% per year over the past 5 years.

Accelerating Growth: 1999's earnings growth over the past year (16.8%) exceeds its 5-year average (7.1% per year).

Earnings vs Industry: 1999 earnings growth over the past year (16.8%) exceeded the Consumer Durables industry -8.3%.


Return on Equity

High ROE: 1999's Return on Equity (18.2%) is considered low.


Discover strong past performing companies

Financial Health

How is Man Wah Holdings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1999's short term assets (HK$9.3B) exceed its short term liabilities (HK$7.4B).

Long Term Liabilities: 1999's short term assets (HK$9.3B) exceed its long term liabilities (HK$329.4M).


Debt to Equity History and Analysis

Debt Level: 1999's net debt to equity ratio (8.1%) is considered satisfactory.

Reducing Debt: 1999's debt to equity ratio has increased from 19.8% to 34% over the past 5 years.

Debt Coverage: 1999's debt is well covered by operating cash flow (53.6%).

Interest Coverage: 1999 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Man Wah Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.68%

Current Dividend Yield

Upcoming Dividend Payment

TodayJun 24 2022Ex Dividend DateJul 05 2022Dividend Pay DateJul 21 202216 days from Ex DividendBuy in the next 10 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 1999's dividend (3.68%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.76%).

High Dividend: 1999's dividend (3.68%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.89%).


Stability and Growth of Payments

Stable Dividend: 1999's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1999's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (52.7%), 1999's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (202.8%), 1999's dividend payments are not well covered by cash flows.


Discover strong dividend paying companies

Management

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

0.9yrs

Average management tenure


CEO

Man Li Wong (56 yo)

0.25

Tenure

HK$2,167,000

Compensation

Mr. Wong Man Li, BBS, founded Man Wah Holdings Ltd. in 1992 and has been its Chairman of the Board and Managing Director since November 17, 2004. Mr. Wong serves as Chief Executive Officer at Man Wah Holdi...


CEO Compensation Analysis

Compensation vs Market: Man Li's total compensation ($USD276.08K) is below average for companies of similar size in the Hong Kong market ($USD473.10K).

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


Leadership Team

Experienced Management: 1999's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: 1999's board of directors are considered experienced (9.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: 1999 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

Man Wah Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Man Wah Holdings Limited
  • Ticker: 1999
  • Exchange: SEHK
  • Founded: 1992
  • Industry: Home Furnishings
  • Sector: Consumer Durables
  • Implied Market Cap: HK$32.019b
  • Shares outstanding: 3.93b
  • Website: https://www.manwahholdings.com

Number of Employees


Location

  • Man Wah Holdings Limited
  • Wah Lai Industrial Center
  • 1st Floor
  • Fo Tan
  • New Territories
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/24 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2022/03/31


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.