SEHK:142

Stock Analysis Report

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Executive Summary

First Pacific Company Limited, an investment management and holding company, engages in the consumer food products, telecommunications, infrastructure, and natural resources businesses in the Philippines, Indonesia, Australasia, Singapore, and internationally. More Details


Snowflake Analysis

Moderate growth potential second-rate dividend payer.

Share Price & News

How has First Pacific's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 142's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.0%

142

2.3%

HK Diversified Financial

1.2%

HK Market


1 Year Return

-18.2%

142

-11.9%

HK Diversified Financial

2.3%

HK Market

Return vs Industry: 142 underperformed the Hong Kong Diversified Financial industry which returned -11.9% over the past year.

Return vs Market: 142 underperformed the Hong Kong Market which returned 2.3% over the past year.


Shareholder returns

142IndustryMarket
7 Day12.0%2.3%1.2%
30 Day16.3%5.4%6.1%
90 Day52.2%4.9%3.1%
1 Year-11.7%-18.2%-6.9%-11.9%6.6%2.3%
3 Year-53.1%-59.7%-27.6%-35.4%-4.7%-15.1%
5 Year-44.5%-54.4%-43.8%-49.4%19.1%-1.1%

Price Volatility Vs. Market

How volatile is First Pacific's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Pacific undervalued compared to its fair value and its price relative to the market?

0.46x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: 142 (HK$2.42) is trading above our estimate of fair value (HK$1.76)

Significantly Below Fair Value: 142 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 142 is unprofitable, so we can't compare its PE Ratio to the HK Diversified Financial industry average.

PE vs Market: 142 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 142's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 142 is good value based on its PB Ratio (0.5x) compared to the HK Diversified Financial industry average (0.6x).


Next Steps

Future Growth

How is First Pacific forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

55.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 142 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.6%).

Earnings vs Market: 142 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 142's is expected to become profitable in the next 3 years.

Revenue vs Market: 142's revenue (9.1% per year) is forecast to grow slower than the Hong Kong market (13.3% per year).

High Growth Revenue: 142's revenue (9.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 142's Return on Equity is forecast to be low in 3 years time (11%).


Next Steps

Past Performance

How has First Pacific performed over the past 5 years?

-39.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 142 is currently unprofitable.

Growing Profit Margin: 142 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 142 is unprofitable, and losses have increased over the past 5 years at a rate of 39.8% per year.

Accelerating Growth: Unable to compare 142's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 142 is unprofitable, making it difficult to compare its past year earnings growth to the Diversified Financial industry (-0.3%).


Return on Equity

High ROE: 142 has a negative Return on Equity (3.25%), as it is currently unprofitable.


Next Steps

Financial Health

How is First Pacific's financial position?


Financial Position Analysis

Short Term Liabilities: 142's short term assets ($5.4B) exceed its short term liabilities ($5.2B).

Long Term Liabilities: 142's short term assets ($5.4B) do not cover its long term liabilities ($8.4B).


Debt to Equity History and Analysis

Debt Level: 142's debt to equity ratio (103.7%) is considered high.

Reducing Debt: 142's debt to equity ratio has increased from 87% to 103.7% over the past 5 years.

Debt Coverage: 142's debt is not well covered by operating cash flow (13.5%).

Interest Coverage: 142 is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is First Pacific current dividend yield, its reliability and sustainability?

5.54%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 142's dividend (5.54%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.24%).

High Dividend: 142's dividend (5.54%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.77%).


Stability and Growth of Payments

Stable Dividend: 142's dividend payments have been volatile in the past 10 years.

Growing Dividend: 142's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: 142 is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: 142's dividends in 3 years are forecast to be well covered by earnings (25.2% payout ratio).


Next Steps

Management

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

7.5yrs

Average management tenure


CEO

Manny Pangilinan (74 yo)

17.33yrs

Tenure

US$12,602,000

Compensation

Mr. Manuel Velez Pangilinan, also known as Manny, founded First Pacific Company Limited in May 1981 and has been its Managing Director and Chief Executive Officer since June 3, 2003. Mr. Pangilinan served ...


CEO Compensation Analysis

Compensation vs Market: Manny's total compensation ($USD12.60M) is above average for companies of similar size in the Hong Kong market ($USD559.67K).

Compensation vs Earnings: Manny's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Manuel Pangilinan
CEO, MD & Executive Director17.33yrsUS$12.60m1.63%
$ 170.6m
Christopher Huxley Young
CFO & Executive Director3.17yrsUS$4.07m0.12%
$ 12.5m
S. K. Cheung
Vice President of Group Corporate Communicationsno datano datano data
Stanley H. Yang
Executive Vice President of Group Corporate Developmentno datano datano data
M. S. Lam
Executive Vice President of Group Human Resourcesno datano datano data
Marilyn Victorio-Aquino
Associate Director & Chief Risk Officer8.25yrsno datano data
L. M. Li
VP & Company Secretary17.42yrsno datano data
Ping Cheung Chan
Executive VP & Group Financial Controller6.75yrsno datano data
T. H. Lin
Executive Vice President of Group Treasury & Tax1.75yrsno datano data
H. P. Ng
Associate Directorno datano datano data
John W. Ryan
Associate Directorno datano datano data

7.5yrs

Average Tenure

57yo

Average Age

Experienced Management: 142's management team is seasoned and experienced (7.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Manuel Pangilinan
CEO, MD & Executive Director17.33yrsUS$12.60m1.63%
$ 170.6m
Christopher Huxley Young
CFO & Executive Director3.17yrsUS$4.07m0.12%
$ 12.5m
Kwan Yiu Chen
Independent Non-Executive Director27.75yrsUS$345.00k0.053%
$ 5.6m
Tedy Djuhar
Non-Executive Director39.75yrsUS$28.00kno data
Anthoni Salim
Chairman17.33yrsUS$3.17m26.18%
$ 2.7b
Benny Santoso
Non-Executive Directorno dataUS$228.00k0%
$ 0
Yan Hok Fan
Independent Non-Executive Director7.83yrsUS$344.00k0.048%
$ 5.1m
Blair Chilton Pickerell
Independent Non-Executive Director0.58yrno datano data
Axton Salim
Non-Executive Director0.58yrno datano data
May-Yee Leung Ko
Independent Non-Executive Director7.83yrsUS$333.00k0.033%
$ 3.5m
Suh Shin Lee
Independent Non-Executive Director5.08yrsUS$282.00k0.014%
$ 1.5m

7.8yrs

Average Tenure

68yo

Average Age

Experienced Board: 142's board of directors are considered experienced (7.8 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: 142 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

First Pacific Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Pacific Company Limited
  • Ticker: 142
  • Exchange: SEHK
  • Founded: 1981
  • Industry: Multi-Sector Holdings
  • Sector: Diversified Financials
  • Market Cap: HK$10.494b
  • Shares outstanding: 4.34b
  • Website: https://www.firstpacific.com

Number of Employees


Location

  • First Pacific Company Limited
  • Two Exchange Square
  • 24th Floor
  • Central
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FPAF.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
142SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 1992
FPCDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
142SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJan 1992
142SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJan 1992
FPAF.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDJul 1995
FPAFY NBMV (Bolsa Mexicana de Valores)SPONSORED ADRMXMXNJul 1995

Biography

First Pacific Company Limited, an investment management and holding company, engages in the consumer food products, telecommunications, infrastructure, and natural resources businesses in the Philippines, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/25 12:51
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
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.