Far East Horizon
Market Cap
HK$36.0b
Last Updated
2021/03/05 10:19 UTC
Data Sources
Company Financials +
Executive Summary
Far East Horizon Limited, together with its subsidiaries, provides various financial services in Mainland China, Hong Kong, and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with proven track record.
Share Price & News
How has Far East Horizon's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 3360 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: 3360's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
3.8%
3360
-4.2%
HK Diversified Financial
-3.5%
HK Market
1 Year Return
27.0%
3360
9.7%
HK Diversified Financial
19.4%
HK Market
Return vs Industry: 3360 exceeded the Hong Kong Diversified Financial industry which returned 9.7% over the past year.
Return vs Market: 3360 exceeded the Hong Kong Market which returned 19.4% over the past year.
Shareholder returns
| 3360 | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.8% | -4.2% | -3.5% |
| 30 Day | 1.4% | 5.5% | -0.7% |
| 90 Day | 5.1% | 7.5% | 10.8% |
| 1 Year | 33.2%27.0% | 15.7%9.7% | 24.0%19.4% |
| 3 Year | 29.3%13.5% | -9.7%-18.9% | 5.5%-5.4% |
| 5 Year | 75.5%42.9% | -25.3%-32.9% | 64.0%36.2% |
Long-Term Price Volatility Vs. Market
How volatile is Far East Horizon's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Far East Horizon 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: 3360 (HK$8.66) is trading below our estimate of fair value (HK$25.78)
Significantly Below Fair Value: 3360 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 3360 is good value based on its PE Ratio (6.6x) compared to the HK Diversified Financial industry average (7.7x).
PE vs Market: 3360 is good value based on its PE Ratio (6.6x) compared to the Hong Kong market (12x).
Price to Earnings Growth Ratio
PEG Ratio: 3360 is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: 3360's PB Ratio (0.7x) is in line with the HK Diversified Financial industry average.
Next Steps
Future Growth
How is Far East Horizon forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
14.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 3360's forecast earnings growth (14.5% per year) is above the savings rate (1.5%).
Earnings vs Market: 3360's earnings (14.5% per year) are forecast to grow slower than the Hong Kong market (21.2% per year).
High Growth Earnings: 3360's earnings are forecast to grow, but not significantly.
Revenue vs Market: 3360's revenue (14.3% per year) is forecast to grow faster than the Hong Kong market (13.5% per year).
High Growth Revenue: 3360's revenue (14.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 3360's Return on Equity is forecast to be low in 3 years time (14.2%).
Next Steps
Past Performance
How has Far East Horizon performed over the past 5 years?
12.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 3360 has high quality earnings.
Growing Profit Margin: 3360's current net profit margins (17.5%) are higher than last year (17.1%).
Past Earnings Growth Analysis
Earnings Trend: 3360's earnings have grown by 12.8% per year over the past 5 years.
Accelerating Growth: 3360's earnings growth over the past year (0.2%) is below its 5-year average (12.8% per year).
Earnings vs Industry: 3360 earnings growth over the past year (0.2%) exceeded the Diversified Financial industry -0.3%.
Return on Equity
High ROE: 3360's Return on Equity (10.2%) is considered low.
Next Steps
Financial Health
How is Far East Horizon's financial position?
Financial Position Analysis
Short Term Liabilities: 3360's short term assets (CN¥234.3B) exceed its short term liabilities (CN¥128.0B).
Long Term Liabilities: 3360's short term assets (CN¥234.3B) exceed its long term liabilities (CN¥115.6B).
Debt to Equity History and Analysis
Debt Level: 3360's debt to equity ratio (412.2%) is considered high.
Reducing Debt: 3360's debt to equity ratio has reduced from 425.6% to 412.2% over the past 5 years.
Debt Coverage: 3360's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if 3360's interest payments on its debt are well covered by EBIT.
Balance Sheet
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Dividend
What is Far East Horizon current dividend yield, its reliability and sustainability?
3.79%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 3360's dividend (3.79%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.02%).
High Dividend: 3360's dividend (3.79%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.26%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, 3360 has been paying a dividend for less than 10 years.
Growing Dividend: 3360's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (26.9%), 3360's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 3360's dividends in 3 years are forecast to be well covered by earnings (26.2% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
9.8yrs
Average management tenure
CEO
Fanxing Kong (56 yo)
11.5yrs
Tenure
CN¥7,333,000
Compensation
Mr. Fanxing Kong has been the Chief Executive Officer of Far East Horizon Limited since September 2009 and served as its President since September 2009. Mr. Kong serves as the Chairman and the Chief Execut...
CEO Compensation Analysis
Compensation vs Market: Fanxing's total compensation ($USD1.13M) is above average for companies of similar size in the Hong Kong market ($USD687.24K).
Compensation vs Earnings: Fanxing's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Vice Chairman & CEO | 11.5yrs | CN¥7.33m | 0.28% CN¥ 101.6m | |
| Executive Director & CFO | 11.42yrs | CN¥4.70m | 0.047% CN¥ 16.8m | |
| Chief Information Officer | 6.92yrs | no data | no data | |
| Senior Vice President | 8.17yrs | no data | no data | |
| Company Secretary | no data | no data | no data |
9.8yrs
Average Tenure
49yo
Average Age
Experienced Management: 3360's management team is seasoned and experienced (9.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Vice Chairman & CEO | 11.5yrs | CN¥7.33m | 0.28% CN¥ 101.6m | |
| Executive Director & CFO | 11.42yrs | CN¥4.70m | 0.047% CN¥ 16.8m | |
| Non-Executive Director | 11.42yrs | CN¥372.00k | 0.026% CN¥ 9.2m | |
| Chairman | 5yrs | no data | no data | |
| Independent Non-Executive Director | 10yrs | CN¥372.00k | no data | |
| Independent Non-Executive Director | 10yrs | CN¥372.00k | no data | |
| Non-Executive Director | 8yrs | no data | no data | |
| Independent Non-Executive Director | 10yrs | CN¥372.00k | 0.0060% CN¥ 2.2m | |
| Non-Executive Director | 8.42yrs | no data | no data | |
| Non-Executive Director | 11.42yrs | no data | no data | |
| Independent Non-Executive Director | 10yrs | CN¥372.00k | no data |
10.0yrs
Average Tenure
57yo
Average Age
Experienced Board: 3360's board of directors are seasoned and experienced ( 10 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 been diluted in the past year, with total shares outstanding growing by 5%.
Top Shareholders
Company Information
Far East Horizon Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Far East Horizon Limited
- Ticker: 3360
- Exchange: SHSC
- Founded: 2008
- Industry: Specialized Finance
- Sector: Diversified Financials
- Market Cap: HK$36.020b
- Shares outstanding: 4.16b
- Website: https://www.fehorizon.com
Number of Employees
Location
- Far East Horizon Limited
- Unit 6608, International Commerce Centre
- 66th Floor
- Kowloon
- Kowloon
- Hong Kong
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 3360 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Ordinary Shares | HK | HKD | Mar 2011 |
| F6H | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Mar 2011 |
| 3360 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Mar 2011 |
| 3360 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Mar 2011 |
Biography
Far East Horizon Limited, together with its subsidiaries, provides various financial services in Mainland China, Hong Kong, and internationally. It operates in two segments, Financial, Lease and Advisory; ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/05 10:19 |
| End of Day Share Price | 2021/03/04 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.