SEHK:1827

Stock Analysis Report

Miricor Enterprises Holdings

Executive Summary

Miricor Enterprises Holdings Limited, an investment holding company, provides medical aesthetic services in Hong Kong.

Rewards

Trading at 87% below its fair value

Risk Analysis

Highly volatile share price over past 3 months

Does not have a meaningful market cap (HK$348M)



Snowflake Analysis

Flawless balance sheet and slightly overvalued.

Share Price & News

How has Miricor Enterprises Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1827's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.6%

1827

-2.3%

HK Consumer Services

1.7%

HK Market


1 Year Return

-57.1%

1827

-0.3%

HK Consumer Services

-2.9%

HK Market

Return vs Industry: 1827 underperformed the Hong Kong Consumer Services industry which returned -0.3% over the past year.

Return vs Market: 1827 underperformed the Hong Kong Market which returned -2.9% over the past year.


Shareholder returns

1827IndustryMarket
7 Day3.6%-2.3%1.7%
30 Day-9.4%-3.0%-4.8%
90 Day-17.1%9.2%3.4%
1 Year-57.1%-57.1%1.7%-0.3%0.7%-2.9%
3 Year-65.7%-65.7%-4.3%-9.2%15.3%3.6%
5 Yearn/a28.3%17.7%15.9%-3.5%

Price Volatility Vs. Market

How volatile is Miricor Enterprises Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 1827 (HK$0.87) is trading below our estimate of fair value (HK$6.67)

Significantly Below Fair Value: 1827 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 1827 is poor value based on its PE Ratio (15.9x) compared to the Consumer Services industry average (15.8x).

PE vs Market: 1827 is poor value based on its PE Ratio (15.9x) compared to the Hong Kong market (10.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 1827's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 1827 is overvalued based on its PB Ratio (2.2x) compared to the HK Consumer Services industry average (2x).


Next Steps

Future Growth

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

28.6%

Forecasted Consumer Services 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 Miricor Enterprises 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.


Next Steps

Past Performance

How has Miricor Enterprises Holdings performed over the past 5 years?

18.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1827 has high quality earnings.

Growing Profit Margin: 1827's current net profit margins (12.8%) are lower than last year (17.2%).


Past Earnings Growth Analysis

Earnings Trend: 1827's earnings have grown by 18.9% per year over the past 5 years.

Accelerating Growth: 1827's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1827 had negative earnings growth (-9.3%) over the past year, making it difficult to compare to the Consumer Services industry average (15.4%).


Return on Equity

High ROE: 1827's Return on Equity (14%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Miricor Enterprises Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 1827's short term assets (HK$235.7M) exceed its short term liabilities (HK$147.8M).

Long Term Liabilities: 1827's short term assets (HK$235.7M) exceed its long term liabilities (HK$43.7M).


Debt to Equity History and Analysis

Debt Level: 1827 is debt free.

Reducing Debt: 1827 has not had any debt for past 5 years.

Debt Coverage: 1827 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 1827 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: 1827 has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if 1827's debt is covered by short term assets.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%2.3%markettop25%6.3%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 1827's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 1827'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 1827's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 1827's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 1827'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?

3.3yrs

Average management tenure


CEO

Gigi Lai (47yo)

3.2yrs

Tenure

HK$2,418,000

Compensation

Ms. Lai Ka Yee, also known as Gigi, (former name: Chi Lai) has been Chairlady and Chief Executive Officer at Miricor Enterprises Holdings Ltd since December 19, 2016. Ms. Lai has been an Executive Director ...


CEO Compensation Analysis

Compensation vs Market: Gigi's total compensation ($USD311.32K) is above average for companies of similar size in the Hong Kong market ($USD225.53K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Ka Yee Lai
Chairlady & CEO3.2yrsHK$2.42m68.75% HK$239.3m
Ting Wai Ma
Director of IT & Business Development3.6yrsno datano data
Ching Yee Shum
Chief Financial Officer2.4yrsno datano data
Chi Wei Lam
Director of Sales & Operation5.8yrsno datano data
Tai On Lo
Company Secretary3.4yrsno datano data
Chui Ying Tsang
Financial Controller0yrsno datano data

3.3yrs

Average Tenure

49yo

Average Age

Experienced Management: 1827's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ka Yee Lai
Chairlady & CEO3.2yrsHK$2.42m68.75% HK$239.3m
Ting Wai Ma
Director of IT & Business Development3.6yrsno datano data
Yuk Wo Cheng
Independent Non-Executive Director3.2yrsHK$180.00kno data
Wai Kwan Li
Independent Non-Executive Director3.2yrsHK$180.00kno data
Fu Kwok Cheng
Independent Non-Executive Director3.2yrsHK$180.00kno data

3.2yrs

Average Tenure

53yo

Average Age

Experienced Board: 1827's board of directors are considered experienced (3.2 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

Miricor Enterprises Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Miricor Enterprises Holdings Limited
  • Ticker: 1827
  • Exchange: SEHK
  • Founded: 2009
  • Industry: Specialized Consumer Services
  • Sector: Consumer Services
  • Market Cap: HK$348.000m
  • Shares outstanding: 400.00m
  • Website: https://www.miricor.com

Number of Employees


Location

  • Miricor Enterprises Holdings Limited
  • Leighton Centre
  • Room 1605, 16th Floor
  • Causeway Bay
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1827SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 2017

Biography

Miricor Enterprises Holdings Limited, an investment holding company, provides medical aesthetic services in Hong Kong. The company operates two medical aesthetic centers in Causeway Bay and Central District under the CosMax brand name. It offers a range of non-surgical medical aesthetic services, including energy-based procedures, injection procedures, and other solutions, as well as skin care products. The company was formerly known as Treshaa Enterprises Holdings Limited and changed its name to Miricor Enterprises Holdings Limited in August 2016. Miricor Enterprises Holdings Limited was founded in 2009 and is headquartered in Causeway Bay, Hong Kong. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/16 13:11
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.