SEHK:71

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Miramar Hotel and Investment Company

Executive Summary

Miramar Hotel and Investment Company, Limited, an investment holding company, engages in property rental, hotels and serviced apartments, food and beverage, and travel businesses in Hong Kong and Mainland China.


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has Miramar Hotel and Investment Company's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 71 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.1%

71

2.6%

HK Hospitality

4.1%

HK Market


1 Year Return

-19.5%

71

-14.0%

HK Hospitality

-4.7%

HK Market

Return vs Industry: 71 underperformed the Hong Kong Hospitality industry which returned -14% over the past year.

Return vs Market: 71 underperformed the Hong Kong Market which returned -4.9% over the past year.


Shareholder returns

71IndustryMarket
7 Day0.1%2.6%4.1%
30 Day0.4%-4.0%5.3%
90 Day7.3%22.0%13.5%
1 Year-16.0%-19.5%-12.1%-14.0%-1.2%-4.7%
3 Year-11.9%-21.6%-6.7%-14.1%7.7%-3.5%
5 Year29.8%7.3%8.4%-6.8%7.2%-10.1%

Price Volatility Vs. Market

How volatile is Miramar Hotel and Investment Company's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Miramar Hotel and Investment Company undervalued compared to its fair value and its price relative to the market?

36.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 71 (HK$13.9) is trading below our estimate of fair value (HK$21.71)

Significantly Below Fair Value: 71 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 71 is good value based on its PE Ratio (7.5x) compared to the Hospitality industry average (15.9x).

PE vs Market: 71 is good value based on its PE Ratio (7.5x) compared to the Hong Kong market (10.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 71's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 71 is good value based on its PB Ratio (0.5x) compared to the HK Hospitality industry average (0.9x).


Next Steps

Future Growth

How is Miramar Hotel and Investment Company forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

18.8%

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 Miramar Hotel and Investment Company 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 Miramar Hotel and Investment Company performed over the past 5 years?

3.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 71 has a large one-off gain of HK$506.4M impacting its December 31 2004 financial results.

Growing Profit Margin: 71's current net profit margins (42.1%) are lower than last year (50.8%).


Past Earnings Growth Analysis

Earnings Trend: 71's earnings have grown by 3.3% per year over the past 5 years.

Accelerating Growth: 71's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 71 had negative earnings growth (-20.7%) over the past year, making it difficult to compare to the Hospitality industry average (-15.7%).


Return on Equity

High ROE: 71's Return on Equity (6.7%) is considered low.


Next Steps

Financial Health

How is Miramar Hotel and Investment Company's financial position?


Financial Position Analysis

Short Term Liabilities: 71's short term assets (HK$5.7B) exceed its short term liabilities (HK$892.2M).

Long Term Liabilities: 71's short term assets (HK$5.7B) exceed its long term liabilities (HK$554.2M).


Debt to Equity History and Analysis

Debt Level: 71's debt to equity ratio (0.04%) is considered satisfactory.

Reducing Debt: 71's debt to equity ratio has reduced from 20.6% to 0.04% over the past 5 years.

Debt Coverage: 71's debt is well covered by operating cash flow (12075.6%).

Interest Coverage: 71's interest payments on its debt are well covered by EBIT (248.9x coverage).


Balance Sheet


Next Steps

Dividend

What is Miramar Hotel and Investment Company current dividend yield, its reliability and sustainability?

4.17%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 71's dividend (4.17%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.34%).

High Dividend: 71's dividend (4.17%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.72%).


Stability and Growth of Payments

Stable Dividend: 71's dividend payments have been volatile in the past 10 years.

Growing Dividend: 71's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.1%), 71's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

4.0yrs

Average management tenure


CEO

Martin Lee (48yo)

13.92yrs

Tenure

HK$100,000

Compensation

Mr. Ka-Shing Lee, also known as Martin, has been a Joint Chairmen of The Hong Kong and China Gas Company Limited since May 28, 2019. He has been Chairman and Managing Director of Henderson Land Development ...


Leadership Team

NamePositionTenureCompensationOwnership
Ka-Shing Lee
Chairman & CEO13.92yrsHK$100.00k0.0036% HK$344.8k
Ko Yin Lam
Executive Director27.5yrsHK$50.00kno data
Yum Chuen Lau
Executive Director24.5yrsHK$50.00kno data
Hau Chong Ho
Executive Director22.5yrsHK$50.00kno data
Yat Sun Tang
Executive Director34.5yrsHK$100.00k0.049% HK$4.7m
Ho Man Lai
Director of Group Finance & Joint Company Secretary3.83yrsno datano data
Ka May Leung
Acting Director of Group Human Resources & Administration3.92yrsno datano data
Wing Yan Chan
Director of Group Marketing & Corporate Communications2.83yrsno datano data
Kim Man Wu
Head of Asset Management7.67yrsno datano data
Lit Chor Wong
Deputy Chief Executive Officer4.17yrsno datano data

4.0yrs

Average Tenure

59.5yo

Average Age

Experienced Management: 71's management team is considered experienced (4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ka-Shing Lee
Chairman & CEO13.92yrsHK$100.00k0.0036% HK$344.8k
Ko Yin Lam
Executive Director27.5yrsHK$50.00kno data
Yum Chuen Lau
Executive Director24.5yrsHK$50.00kno data
Hau Chong Ho
Executive Director22.5yrsHK$50.00kno data
Yat Sun Tang
Executive Director34.5yrsHK$100.00k0.049% HK$4.7m
Wai-Kin Sin
Independent Vice Chairman35.5yrsHK$350.00k0.72% HK$69.4m
Shui Ming Chung
Independent Non-Executive Director14.42yrsHK$350.00kno data
Ka On Cheng
Non-Executive Director35.5yrsHK$300.00k1.35% HK$129.7m
Ping-Leung Yeung
Independent Non-Executive Director20.5yrsHK$50.00kno data
Cheung-Biu Liang
Independent Non-Executive Director16.5yrsHK$50.00k0.32% HK$30.8m

23.5yrs

Average Tenure

68.5yo

Average Age

Experienced Board: 71's board of directors are seasoned and experienced ( 23.5 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: 71 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

Miramar Hotel and Investment Company, Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Miramar Hotel and Investment Company, Limited
  • Ticker: 71
  • Exchange: SEHK
  • Founded: 1948
  • Industry: Hotels, Resorts and Cruise Lines
  • Sector: Consumer Services
  • Market Cap: HK$9.604b
  • Shares outstanding: 690.96m
  • Website: https://www.miramar-group.com

Number of Employees


Location

  • Miramar Hotel and Investment Company, Limited
  • Mira Place Tower A
  • 15th Floor
  • Tsim Sha Tsui
  • Kowloon
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MMHT.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
71SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 1992

Biography

Miramar Hotel and Investment Company, Limited, an investment holding company, engages in property rental, hotels and serviced apartments, food and beverage, and travel businesses in Hong Kong and Mainland China. The company operates in five segments: Property Rental, Hotels and Serviced Apartments, Food and Beverage Operation, Travel Operation, and Others. It leases office and retail premises; and operates hotels and serviced apartments, as well as provides hotel management services. The company also operates restaurants; offers travel agency, property management, and financial services; and sells properties. Miramar Hotel and Investment Company, Limited was founded in 1948 and is based in Tsim Sha Tsui, Hong Kong. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/04 12:40
End of Day Share Price2020/07/03 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.