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780

Tongcheng Travel Holdings SEHK:780 Stock Report

Last Price

HK$15.48

Market Cap

HK$34.3b

7D

1.2%

1Y

-21.6%

Updated

23 Jun, 2022

Data

Company Financials +
780 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance4/6
Financial Health6/6
Dividends0/6

780 Stock Overview

Tongcheng Travel Holdings Limited, an investment holding company, provides travel related services in the People’s Republic of China.

Tongcheng Travel Holdings Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Tongcheng Travel Holdings
Historical stock prices
Current Share PriceHK$15.48
52 Week HighHK$20.30
52 Week LowHK$9.00
Beta0.81
1 Month Change24.04%
3 Month Change20.00%
1 Year Change-21.58%
3 Year Change-0.13%
5 Year Changen/a
Change since IPO24.84%

Recent News & Updates

Jun 03
These 4 Measures Indicate That Tongcheng Travel Holdings (HKG:780) Is Using Debt Safely

These 4 Measures Indicate That Tongcheng Travel Holdings (HKG:780) Is Using Debt Safely

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

May 20
Tongcheng Travel Holdings Limited (HKG:780) Analysts Are Reducing Their Forecasts For This Year

Tongcheng Travel Holdings Limited (HKG:780) Analysts Are Reducing Their Forecasts For This Year

Market forces rained on the parade of Tongcheng Travel Holdings Limited ( HKG:780 ) shareholders today, when the...

Shareholder Returns

780HK HospitalityHK Market
7D1.2%-0.8%-1.2%
1Y-21.6%-41.5%-23.8%

Return vs Industry: 780 exceeded the Hong Kong Hospitality industry which returned -41.5% over the past year.

Return vs Market: 780 exceeded the Hong Kong Market which returned -23.8% over the past year.

Price Volatility

Is 780's price volatile compared to industry and market?
780 volatility
780 Average Weekly Movement7.9%
Hospitality Industry Average Movement7.8%
Market Average Movement7.0%
10% most volatile stocks in HK Market13.6%
10% least volatile stocks in HK Market3.3%

Stable Share Price: 780 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: 780's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19995,339Heping Mahttps://www.tongchengir.com

Tongcheng Travel Holdings Limited, an investment holding company, provides travel related services in the People’s Republic of China. It offers transportation ticketing, accommodation reservation, and attraction ticketing services, as well as various ancillary value-added products and services. The company also provides online advertising services, technology consulting and services, and insurance agency services; and engages in call center and other businesses.

Tongcheng Travel Holdings Fundamentals Summary

How do Tongcheng Travel Holdings's earnings and revenue compare to its market cap?
780 fundamental statistics
Market CapCN¥29.31b
Earnings (TTM)CN¥655.00m
Revenue (TTM)CN¥7.64b

44.8x

P/E Ratio

3.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
780 income statement (TTM)
RevenueCN¥7.64b
Cost of RevenueCN¥1.95b
Gross ProfitCN¥5.69b
Other ExpensesCN¥5.03b
EarningsCN¥655.00m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.30
Gross Margin74.45%
Net Profit Margin8.57%
Debt/Equity Ratio13.0%

How did 780 perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is 780 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 780?

Other financial metrics that can be useful for relative valuation.

780 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/Revenue3.3x
Enterprise Value/EBITDA20.4x
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

How does 780's PE Ratio compare to its peers?

780 PE Ratio vs Peers
The above table shows the PE ratio for 780 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average31.3x

Price-To-Earnings vs Peers: 780 is expensive based on its Price-To-Earnings Ratio (44.8x) compared to the peer average (31.3x).


Price to Earnings Ratio vs Industry

How does 780's PE Ratio compare vs other companies in the Hong Kong Hospitality Industry?

Price-To-Earnings vs Industry: 780 is expensive based on its Price-To-Earnings Ratio (44.8x) compared to the Hong Kong Hospitality industry average (22x)


Price to Earnings Ratio vs Fair Ratio

What is 780'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.

780 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio44.8x
Fair PE Ratio23.9x

Price-To-Earnings vs Fair Ratio: 780 is expensive based on its Price-To-Earnings Ratio (44.8x) compared to the estimated Fair Price-To-Earnings Ratio (23.9x).


Share Price vs Fair Value

What is the Fair Price of 780 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 780 (HK$15.48) is trading below our estimate of fair value (HK$25.68)

Significantly Below Fair Value: 780 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: 780 is poor value based on its PEG Ratio (1.1x)


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Future Growth

How is Tongcheng Travel Holdings forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


41.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 780's forecast earnings growth (41.9% per year) is above the savings rate (1.5%).

Earnings vs Market: 780's earnings (41.9% per year) are forecast to grow faster than the Hong Kong market (16.7% per year).

High Growth Earnings: 780's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 780's revenue (22.6% per year) is forecast to grow faster than the Hong Kong market (10.1% per year).

High Growth Revenue: 780's revenue (22.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 780's Return on Equity is forecast to be low in 3 years time (10.6%).


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Past Performance

How has Tongcheng Travel 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


2.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 780 has high quality earnings.

Growing Profit Margin: 780's current net profit margins (8.6%) are higher than last year (8.5%).


Past Earnings Growth Analysis

Earnings Trend: 780 has become profitable over the past 5 years, growing earnings by 2.8% per year.

Accelerating Growth: 780's earnings growth over the past year (18.5%) exceeds its 5-year average (2.8% per year).

Earnings vs Industry: 780 earnings growth over the past year (18.5%) underperformed the Hospitality industry 18.5%.


Return on Equity

High ROE: 780's Return on Equity (4.2%) is considered low.


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Financial Health

How is Tongcheng Travel Holdings's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 780's short term assets (CN¥8.5B) exceed its short term liabilities (CN¥4.1B).

Long Term Liabilities: 780's short term assets (CN¥8.5B) exceed its long term liabilities (CN¥3.3B).


Debt to Equity History and Analysis

Debt Level: 780 has more cash than its total debt.

Reducing Debt: 780 had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: 780's debt is well covered by operating cash flow (39.1%).

Interest Coverage: 780 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 780's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 780'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 780's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 780's dividend payments have been increasing.


Earnings Payout to Shareholders

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


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 780 has not reported any payouts.


Discover strong dividend paying companies

Management

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

4.1yrs

Average management tenure


CEO

Heping Ma (44 yo)

4.17yrs

Tenure

CN¥22,704,000

Compensation

Mr. Ma Heping has been Executive Director of Tongcheng Travel Holdings Limited (formerly known as Tongcheng-Elong Holdings Limited) since June 2018 and has been its Chief Executive Officer since April 2018...


CEO Compensation Analysis

Compensation vs Market: Heping's total compensation ($USD3.39M) is above average for companies of similar size in the Hong Kong market ($USD403.06K).

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


Leadership Team

Experienced Management: 780's management team is considered experienced (4.1 years average tenure).


Board Members

Experienced Board: 780's board of directors are considered experienced (4.3 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

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


Key Information

  • Name: Tongcheng Travel Holdings Limited
  • Ticker: 780
  • Exchange: SEHK
  • Founded: 1999
  • Industry: Hotels, Resorts and Cruise Lines
  • Sector: Consumer Services
  • Implied Market Cap: HK$34.341b
  • Shares outstanding: 2.22b
  • Website: https://www.tongchengir.com

Number of Employees


Location

  • Tongcheng Travel Holdings Limited
  • Tongcheng Mansion
  • No. 188 Yuxin Road
  • Suzhou
  • Jiangsu Province
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/23 00:00
End of Day Share Price2022/06/23 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.