TBK & Sons Holdings (SEHK:1960) - Share price, News & Analysis

1960 fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	1/6
Financial Health	5/6
Dividends	0/6

1960 Stock Overview

TBK & Sons Holdings Limited undertakes civil and structural works in the oil and gas industry in Malaysia.

Rewards

Became profitable this year

Risk Analysis

Earnings have declined by 48.5% per year over past 5 years

Large one-off items impacting financial results

Does not have a meaningful market cap (HK$385M)

TBK & Sons Holdings Competitors

China Leon Inspection Holding

SEHK:1586

HK$678.1m

SPT Energy Group

SEHK:1251

HK$537.6m

CMIC Ocean En-Tech Holding

SEHK:206

HK$827.1m

Hilong Holding

SEHK:1623

HK$899.1m

Price History & Performance

Summary of all time highs, changes and price drops for TBK & Sons Holdings
Historical stock prices
Current Share Price	HK$0.39
52 Week High	HK$0.50
52 Week Low	HK$0.36
Beta	-0.099
1 Month Change	-3.75%
3 Month Change	-6.10%
1 Year Change	-8.33%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-51.88%

Recent News & Updates

Nov 19

TBK & Sons Holdings (HKG:1960) Will Be Hoping To Turn Its Returns On Capital Around

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'd want to...

Aug 19

Here's What's Concerning About TBK & Sons Holdings' (HKG:1960) Returns On Capital

What trends should we look for it we want to identify stocks that can multiply in value over the long term? One common...

Shareholder Returns

	1960	HK Energy Services	HK Market
7D	-3.8%	3.0%	3.1%
1Y	-8.3%	-2.8%	-21.2%

Return vs Industry: 1960 underperformed the Hong Kong Energy Services industry which returned -2.8% over the past year.

Return vs Market: 1960 exceeded the Hong Kong Market which returned -20.1% over the past year.

Price Volatility

Is 1960's price volatile compared to industry and market?
1960 volatility
1960 Average Weekly Movement	7.9%
Energy Services Industry Average Movement	7.0%
Market Average Movement	6.9%
10% most volatile stocks in HK Market	13.7%
10% least volatile stocks in HK Market	3.3%

Stable Share Price: 1960 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: 1960's weekly volatility (8%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1975	324	Han Tan	https://www.tbkssb.com.my

TBK & Sons Holdings Limited undertakes civil and structural works in the oil and gas industry in Malaysia. The company’s civil and structural works services include site preparation works, such as earthwork, demolition works, and temporary facilities, as well as infrastructure construction, including building temporary site offices, canteens, warehouses, etc.; and civil works for process plants comprise reinforced concrete foundations, pipe supports, ponds, pits, underground and open drainage networks, paving work, and related plant civil maintenance works. It also undertakes building works, such as the building of sub-stations, field auxiliary rooms, workshops, and storage buildings, etc. in addition, the company trades in oil and related products in the People’s Republic of China.

TBK & Sons Holdings Fundamentals Summary

How do TBK & Sons Holdings's earnings and revenue compare to its market cap?
1960 fundamental statistics
Market Cap	RM215.93m
Earnings (TTM)	RM2.44m
Revenue (TTM)	RM466.25m

88.9x

P/E Ratio

0.5x

P/S Ratio

Is 1960 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
1960 income statement (TTM)
Revenue	RM466.25m
Cost of Revenue	RM448.94m
Gross Profit	RM17.31m
Other Expenses	RM14.87m
Earnings	RM2.44m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.0024
Gross Margin	3.71%
Net Profit Margin	0.52%
Debt/Equity Ratio	2.1%

How did 1960 perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is 1960 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

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 1960?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 1960. This is calculated by dividing 1960's market cap by their current preferred multiple.
What is 1960's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	RM215.93m

1960 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/Revenue	0.3x
Enterprise Value/EBITDA	45.2x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 1960's PE Ratio compare to its peers?

1960 PE Ratio vs Peers

The above table shows the PE ratio for 1960 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	23.7x
1586 China Leon Inspection Holding	13.6x	n/a	HK$678.1m
1251 SPT Energy Group	52.3x	53.8%	HK$537.6m
206 CMIC Ocean En-Tech Holding	11.4x	n/a	HK$827.1m
1623 Hilong Holding	17.4x	32.9%	HK$899.1m
1960 TBK & Sons Holdings	88.9x	n/a	HK$385.0m

Forward PE

Price-To-Earnings vs Peers: 1960 is expensive based on its Price-To-Earnings Ratio (88.9x) compared to the peer average (23.7x).

Price to Earnings Ratio vs Industry

How does 1960's PE Ratio compare vs other companies in the Asian Energy Services Industry?

Price-To-Earnings vs Industry: 1960 is expensive based on its Price-To-Earnings Ratio (88.9x) compared to the Hong Kong Energy Services industry average (47.7x)

Price to Earnings Ratio vs Fair Ratio

What is 1960'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.

1960 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	88.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 1960's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 1960 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 1960's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 1960's fair value for valuation analysis.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 1960's PEG Ratio to determine if it is good value.

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Future Growth

How is TBK & Sons Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

38.4%

Forecasted Energy 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 TBK & Sons 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.

Discover growth companies

Examine TBK & Sons Holdings's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
TBK & Sons Holdings competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has TBK & Sons Holdings performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-48.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1960 has a large one-off gain of MYR1.1M impacting its December 31 2021 financial results.

Growing Profit Margin: 1960 became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: 1960's earnings have declined by 48.5% per year over the past 5 years.

Accelerating Growth: 1960 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 1960 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Energy Services industry (-75%).

Return on Equity

High ROE: 1960's Return on Equity (1.7%) is considered low.

Discover strong past performing companies

Financial Health

How is TBK & Sons Holdings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1960's short term assets (MYR186.4M) exceed its short term liabilities (MYR62.6M).

Long Term Liabilities: 1960's short term assets (MYR186.4M) exceed its long term liabilities (MYR3.6M).

Debt to Equity History and Analysis

Debt Level: 1960 has more cash than its total debt.

Reducing Debt: 1960's debt to equity ratio has reduced from 75.2% to 2.1% over the past 5 years.

Debt Coverage: 1960's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 1960 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is TBK & Sons 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 1960's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 1960'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 1960's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 1960'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 1960 has not reported any payouts.

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Management

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

3.4yrs

Average management tenure

CEO

Han Tan (57 yo)

3.42yrs

Tenure

RM1,312,000

Compensation

Mr. Han Peng Tan has been Chief Executive Officer and Executive Director at TBK & Sons Holdings Limited since January 29, 2019. He also served as Director at TBK & Sons Holdings Limited since November 8, 2...

CEO Compensation Analysis

Compensation vs Market: Han's total compensation ($USD298.08K) is about average for companies of similar size in the Hong Kong market ($USD233.43K).

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

Leadership Team

Experienced Management: 1960's management team is considered experienced (3.4 years average tenure).

Board Members

Experienced Board: 1960's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.

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.

Data	Last Updated (UTC time)
Company Analysis	2022/06/29 00:00
End of Day Share Price	2022/06/29 00:00
Earnings	2021/12/31
Annual Earnings	2021/06/30