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458

Tristate HoldingsSEHK:458 Stock Report

Market Cap

HK$258.0m

7D

0%

1Y

-5.0%

Updated

20 Oct, 2021

Data

Company Financials
458 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance0/6
Financial Health6/6
Dividends0/6

458 Overview

Tristate Holdings Limited, an investment holding company, designs, manufactures, and trades in garments in the People's Republic of China, Canada, the United States, Italy, the United Kingdom, and internationally.

Price History & Performance

Summary of all time highs, changes and price drops for Tristate Holdings
Historical stock prices
Current Share PriceHK$0.95
52 Week HighHK$0.85
52 Week LowHK$1.20
Beta0.22
1 Month Change0%
3 Month Change-4.04%
1 Year Change-5.00%
3 Year Change-42.42%
5 Year Change-36.67%
Change since IPO-75.00%

Recent News & Updates

Nov 22
Is Tristate Holdings (HKG:458) Using Debt In A Risky Way?

Is Tristate Holdings (HKG:458) Using Debt In A Risky Way?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

458HK LuxuryHK Market
7D0%6.0%2.8%
1Y-5.0%53.6%6.6%

Return vs Industry: 458 underperformed the Hong Kong Luxury industry which returned 53.6% over the past year.

Return vs Market: 458 underperformed the Hong Kong Market which returned 6.6% over the past year.

Price Volatility

Is 458's price volatile compared to industry and market?
458 volatility
458 Beta0.22
Industry Beta0.94
Market Beta1

Stable Share Price: 458 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 458's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19376,630Peter Wanghttps://www.tristateww.com

Tristate Holdings Limited, an investment holding company, designs, manufactures, and trades in garments in the People's Republic of China, Canada, the United States, Italy, the United Kingdom, and internationally. It offers garments under the C.P. Company, Cissonne, Nautica, and Spyder brand names.

Tristate Holdings Fundamentals Summary

How do Tristate Holdings's earnings and revenue compare to its market cap?
458 fundamental statistics
Market CapHK$258.03m
Earnings (TTM)-HK$67.44m
Revenue (TTM)HK$2.61b

0.1x

P/S Ratio

-3.8x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
458 income statement (TTM)
RevenueHK$2.61b
Cost of RevenueHK$1.60b
Gross ProfitHK$1.02b
ExpensesHK$1.08b
Earnings-HK$67.44m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.25
Gross Margin38.88%
Net Profit Margin-2.58%
Debt/Equity Ratio5.1%

How did 458 perform over the long term?

See historical performance and comparison

Valuation

Is Tristate Holdings undervalued compared to its fair value and its price relative to the market?

27.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 458 (HK$0.95) is trading below our estimate of fair value (HK$1.3)

Significantly Below Fair Value: 458 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 458 is unprofitable, so we can't compare its PE Ratio to the Hong Kong Luxury industry average.

PE vs Market: 458 is unprofitable, so we can't compare its PE Ratio to the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 458's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 458 is good value based on its PB Ratio (0.3x) compared to the HK Luxury industry average (0.8x).


Future Growth

How is Tristate Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

24.5%

Forecasted Consumer Durables 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 Tristate Holdings 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.


Past Performance

How has Tristate Holdings performed over the past 5 years?

-13.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 458 is currently unprofitable.

Growing Profit Margin: 458 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 458 is unprofitable, and losses have increased over the past 5 years at a rate of 13.6% per year.

Accelerating Growth: Unable to compare 458's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 458 is unprofitable, making it difficult to compare its past year earnings growth to the Luxury industry (40.3%).


Return on Equity

High ROE: 458 has a negative Return on Equity (-6.28%), as it is currently unprofitable.


Financial Health

How is Tristate Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 458's short term assets (HK$1.2B) exceed its short term liabilities (HK$757.1M).

Long Term Liabilities: 458's short term assets (HK$1.2B) exceed its long term liabilities (HK$458.6M).


Debt to Equity History and Analysis

Debt Level: 458's debt to equity ratio (5.1%) is considered satisfactory.

Reducing Debt: 458's debt to equity ratio has reduced from 24.3% to 5.1% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable 458 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: 458 is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 19.2% per year.


Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 458's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 458's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 458's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 458's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 458 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 458'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?

5.1yrs

Average management tenure


CEO

Peter Wang (67 yo)

22.75yrs

Tenure

HK$5,640,000

Compensation

Mr. Kin-Chung Wang, also known as Peter, BSc, MBA, serves as Managing Director of Hua Thai Manufacturing Public Company Limited. Mr. Wang has been Chief Executive Officer of Tristate Holdings Limited since...


CEO Compensation Analysis

Compensation vs Market: Peter's total compensation ($USD725.27K) is above average for companies of similar size in the Hong Kong market ($USD226.12K).

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


Leadership Team

Experienced Management: 458's management team is seasoned and experienced (5.1 years average tenure).


Board Members

Experienced Board: 458's board of directors are seasoned and experienced ( 20.8 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.


Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Tristate Holdings Limited
  • Ticker: 458
  • Exchange: SEHK
  • Founded: 1937
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: HK$258.027m
  • Shares outstanding: 271.61m
  • Website: https://www.tristateww.com

Number of Employees


Location

  • Tristate Holdings Limited
  • 66-72 Lei Muk Road
  • 5th Floor
  • Kwai Chung
  • 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 Analysis2021/10/20 10:07
End of Day Share Price2021/10/19 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.