| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 6/6 |
| Dividends | 4/6 |
168 Overview
Tsingtao Brewery Company Limited, together with its subsidiaries, engages in the production, distribution, wholesale, and retail sale of beer products worldwide.
Rewards
Risk Analysis
No risks detected for 168 from our risk checks.
Tsingtao Brewery Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | HK$65.65 |
| 52 Week High | HK$57.30 |
| 52 Week Low | HK$93.55 |
| Beta | 1 |
| 1 Month Change | 7.80% |
| 3 Month Change | 0.23% |
| 1 Year Change | -2.38% |
| 3 Year Change | 112.12% |
| 5 Year Change | 110.42% |
| Change since IPO | 1,736.36% |
Recent News & Updates
Is Tsingtao Brewery Company Limited (HKG:168) Trading At A 27% Discount?
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Returns Are Gaining Momentum At Tsingtao Brewery (HKG:168)
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Tsingtao Brewery (HKG:168) Could Easily Take On More Debt
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With EPS Growth And More, Tsingtao Brewery (HKG:168) Is Interesting
It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...
Shareholder Returns
| 168 | HK Beverage | HK Market | |
|---|---|---|---|
| 7D | 10.2% | -0.7% | 0.4% |
| 1Y | -2.4% | -1.8% | 6.7% |
Return vs Industry: 168 matched the Hong Kong Beverage industry which returned -1.8% over the past year.
Return vs Market: 168 underperformed the Hong Kong Market which returned 6.7% over the past year.
Price Volatility
| 168 volatility | |
|---|---|
| 168 Beta | 1 |
| Industry Beta | 0.82 |
| Market Beta | 1 |
Stable Share Price: 168 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: 168's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1903 | 33,945 | Ke Xing Huang | https://www.tsingtao.com.cn |
Tsingtao Brewery Company Limited, together with its subsidiaries, engages in the production, distribution, wholesale, and retail sale of beer products worldwide. It operates through seven segments: Shandong Region; South China Region; North China Region; East China Region; Southeast China Region; Hong Kong, Macau and Other Overseas Region; and Finance Company. The company sells its beer products primarily under the Tsingtaoand and Laoshan brand names.
Tsingtao Brewery Fundamentals Summary
| 168 fundamental statistics | |
|---|---|
| Market Cap | CN¥100.49b |
| Earnings (TTM) | CN¥2.75b |
| Revenue (TTM) | CN¥30.37b |
26.7x
P/E Ratio2.4x
P/S RatioIs 168 overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| 168 income statement (TTM) | |
|---|---|
| Revenue | CN¥30.37b |
| Cost of Revenue | CN¥17.62b |
| Gross Profit | CN¥12.75b |
| Expenses | CN¥10.00b |
| Earnings | CN¥2.75b |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Oct 28, 2021
| Earnings per share (EPS) | 2.02 |
| Gross Margin | 41.99% |
| Net Profit Margin | 9.06% |
| Debt/Equity Ratio | 2.0% |
How did 168 perform over the long term?
See historical performance and comparisonDividends
1.4%
Current Dividend Yield37%
Payout RatioValuation
Is Tsingtao Brewery undervalued compared to its fair value and its price relative to the market?
21.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 168 (HK$65.65) is trading below our estimate of fair value (HK$84.11)
Significantly Below Fair Value: 168 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 168 is poor value based on its PE Ratio (26.7x) compared to the Hong Kong Beverage industry average (26x).
PE vs Market: 168 is poor value based on its PE Ratio (26.7x) compared to the Hong Kong market (9.6x).
Price to Earnings Growth Ratio
PEG Ratio: 168 is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: 168 is overvalued based on its PB Ratio (3.3x) compared to the HK Beverage industry average (0.9x).
Future Growth
How is Tsingtao Brewery forecast to perform in the next 1 to 3 years based on estimates from 28 analysts?
13.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 168's forecast earnings growth (13% per year) is above the savings rate (1.5%).
Earnings vs Market: 168's earnings (13% per year) are forecast to grow slower than the Hong Kong market (17.6% per year).
High Growth Earnings: 168's earnings are forecast to grow, but not significantly.
Revenue vs Market: 168's revenue (5.2% per year) is forecast to grow slower than the Hong Kong market (12.4% per year).
High Growth Revenue: 168's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 168's Return on Equity is forecast to be low in 3 years time (14.3%).
Past Performance
How has Tsingtao Brewery performed over the past 5 years?
15.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 168 has high quality earnings.
Growing Profit Margin: 168's current net profit margins (9.1%) are higher than last year (7.7%).
Past Earnings Growth Analysis
Earnings Trend: 168's earnings have grown by 15.5% per year over the past 5 years.
Accelerating Growth: 168's earnings growth over the past year (32.5%) exceeds its 5-year average (15.5% per year).
Earnings vs Industry: 168 earnings growth over the past year (32.5%) underperformed the Beverage industry 49.8%.
Return on Equity
High ROE: 168's Return on Equity (12.5%) is considered low.
Financial Health
How is Tsingtao Brewery's financial position?
Financial Position Analysis
Short Term Liabilities: 168's short term assets (CN¥27.8B) exceed its short term liabilities (CN¥17.8B).
Long Term Liabilities: 168's short term assets (CN¥27.8B) exceed its long term liabilities (CN¥4.5B).
Debt to Equity History and Analysis
Debt Level: 168's debt to equity ratio (2%) is considered satisfactory.
Reducing Debt: 168's debt to equity ratio has reduced from 2.1% to 2% over the past 5 years.
Debt Coverage: 168's debt is well covered by operating cash flow (1113.5%).
Interest Coverage: 168 earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Dividend
What is Tsingtao Brewery current dividend yield, its reliability and sustainability?
1.39%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 168's dividend (1.39%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.24%).
High Dividend: 168's dividend (1.39%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.8%).
Stability and Growth of Payments
Stable Dividend: 168's dividends per share have been stable in the past 10 years.
Growing Dividend: 168's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (36.8%), 168's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 168's dividends in 3 years are forecast to be well covered by earnings (39.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
9.3yrs
Average management tenure
CEO
Ke Xing Huang (59 yo)
9.33yrs
Tenure
CN¥827,311
Compensation
Mr. Ke Xing Huang, EMBA has been the Chief Executive Officer of Tsingtao Brewery Company Limited since June 28, 2012 and its Chairman since May 17, 2018. Mr. Huang served as President at Tsingtao Brewery G...
CEO Compensation Analysis
Compensation vs Market: Ke Xing's total compensation ($USD129.55K) is below average for companies of similar size in the Hong Kong market ($USD1.11M).
Compensation vs Earnings: Ke Xing's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: 168's management team is seasoned and experienced (9.3 years average tenure).
Board Members
Experienced Board: 168's board of directors are not considered experienced ( 1.7 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.
Top Shareholders
Company Information
Tsingtao Brewery Company Limited's employee growth, exchange listings and data sources
Key Information
- Name: Tsingtao Brewery Company Limited
- Ticker: 168
- Exchange: SEHK
- Founded: 1903
- Industry: Brewers
- Sector: Food, Beverage & Tobacco
- Market Cap: HK$122.335b
- Shares outstanding: 1.36b
- Website: https://www.tsingtao.com.cn
Number of Employees
Location
- Tsingtao Brewery Company Limited
- Tsingtao Beer Tower
- No. 35 Donghai West Road
- Qingdao
- Shandong Province
- 266071
- China
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/26 16:09 |
| End of Day Share Price | 2021/10/26 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
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.