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236

San Miguel Brewery Hong KongSEHK:236 Stock Report

Market Cap

HK$392.2m

7D

1.0%

1Y

40.0%

Updated

16 Oct, 2021

Data

Company Financials
236 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance1/6
Financial Health5/6
Dividends0/6

236 Overview

San Miguel Brewery Hong Kong Limited, together with its subsidiaries, manufactures and distributes bottled, canned, and draught beers under the San Miguel Pale Pilsen brand in Hong Kong, Mainland China, the Philippines, and internationally.

Price History & Performance

Summary of all time highs, changes and price drops for San Miguel Brewery Hong Kong
Historical stock prices
Current Share PriceHK$1.05
52 Week HighHK$0.72
52 Week LowHK$1.39
Beta0.26
1 Month Change1.94%
3 Month Change5.00%
1 Year Change40.00%
3 Year Change-11.02%
5 Year Change-15.32%
Change since IPO-71.23%

Recent News & Updates

Apr 19
We Think Shareholders Are Less Likely To Approve A Large Pay Rise For San Miguel Brewery Hong Kong Limited's (HKG:236) CEO For Now

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For San Miguel Brewery Hong Kong Limited's (HKG:236) CEO For Now

In the past three years, the share price of San Miguel Brewery Hong Kong Limited ( HKG:236 ) has struggled to grow and...

Mar 29
San Miguel Brewery Hong Kong (HKG:236) Has Debt But No Earnings; Should You Worry?

San Miguel Brewery Hong Kong (HKG:236) Has Debt But No Earnings; Should You Worry?

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

Shareholder Returns

236HK BeverageHK Market
7D1.0%-0.5%1.1%
1Y40.0%0.3%5.3%

Return vs Industry: 236 exceeded the Hong Kong Beverage industry which returned 0.3% over the past year.

Return vs Market: 236 exceeded the Hong Kong Market which returned 5.3% over the past year.

Price Volatility

Is 236's price volatile compared to industry and market?
236 volatility
236 Beta0.26
Industry Beta0.82
Market Beta1

Stable Share Price: 236 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 236's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1948517Filipin Torralbahttps://info.sanmiguel.com.hk

San Miguel Brewery Hong Kong Limited, together with its subsidiaries, manufactures and distributes bottled, canned, and draught beers under the San Miguel Pale Pilsen brand in Hong Kong, Mainland China, the Philippines, and internationally. It also sells beers under the San Miguel Pale Pilsen, San Mig Light, Dragon Beer, Red Horse, Guang's Pineapple Beer, etc. The company was founded in 1948 and is based in Shatin, Hong Kong. San Miguel Brewery Hong Kong Limited is a subsidiary of Neptunia Corporation Limited.

San Miguel Brewery Hong Kong Fundamentals Summary

How do San Miguel Brewery Hong Kong's earnings and revenue compare to its market cap?
236 fundamental statistics
Market CapHK$392.25m
Earnings (TTM)HK$15.59m
Revenue (TTM)HK$577.91m

25.2x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
236 income statement (TTM)
RevenueHK$577.91m
Cost of RevenueHK$328.07m
Gross ProfitHK$249.84m
ExpensesHK$234.26m
EarningsHK$15.59m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.042
Gross Margin43.23%
Net Profit Margin2.70%
Debt/Equity Ratio12.4%

How did 236 perform over the long term?

See historical performance and comparison

Valuation

Is San Miguel Brewery Hong Kong 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: 236 (HK$1.05) is trading below our estimate of fair value (HK$7.58)

Significantly Below Fair Value: 236 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 236 is good value based on its PE Ratio (25.2x) compared to the Hong Kong Beverage industry average (25.5x).

PE vs Market: 236 is poor value based on its PE Ratio (25.2x) compared to the Hong Kong market (9.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 236's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 236 is good value based on its PB Ratio (0.7x) compared to the HK Beverage industry average (0.9x).


Future Growth

How is San Miguel Brewery Hong Kong forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

13.2%

Forecasted Food, Beverage & Tobacco 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 San Miguel Brewery Hong Kong 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.


Past Performance

How has San Miguel Brewery Hong Kong performed over the past 5 years?

5.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 236 has a large one-off gain of HK$16.0M impacting its June 30 2021 financial results.

Growing Profit Margin: 236's current net profit margins (2.7%) are lower than last year (3.8%).


Past Earnings Growth Analysis

Earnings Trend: 236 has become profitable over the past 5 years, growing earnings by 5.5% per year.

Accelerating Growth: 236's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 236 had negative earnings growth (-25.6%) over the past year, making it difficult to compare to the Beverage industry average (49.8%).


Return on Equity

High ROE: 236's Return on Equity (2.7%) is considered low.


Financial Health

How is San Miguel Brewery Hong Kong's financial position?


Financial Position Analysis

Short Term Liabilities: 236's short term assets (HK$245.8M) exceed its short term liabilities (HK$148.5M).

Long Term Liabilities: 236's short term assets (HK$245.8M) exceed its long term liabilities (HK$20.0M).


Debt to Equity History and Analysis

Debt Level: 236's debt to equity ratio (12.4%) is considered satisfactory.

Reducing Debt: 236's debt to equity ratio has reduced from 35.1% to 12.4% over the past 5 years.

Debt Coverage: 236's debt is well covered by operating cash flow (90.2%).

Interest Coverage: Insufficient data to determine if 236's interest payments on its debt are well covered by EBIT.


Balance Sheet


Dividend

What is San Miguel Brewery Hong Kong current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 236's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 236'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 236's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 236's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 236 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 236's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

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

10.8yrs

Average management tenure


CEO

Filipin Torralba (64 yo)

8.75yrs

Tenure

HK$2,745,000

Compensation

Mr. Ramon G. Torralba, also known as Filipino, B.Sc, CPA has been the Managing Director of San Miguel Brewery Hong Kong Ltd. since January 15, 2013. Mr. Torralba has been Vice President and Manager for Exp...


CEO Compensation Analysis

Compensation vs Market: Filipin's total compensation ($USD352.90K) is above average for companies of similar size in the Hong Kong market ($USD230.29K).

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


Leadership Team

Experienced Management: 236's management team is seasoned and experienced (10.8 years average tenure).


Board Members

Experienced Board: 236's board of directors are considered experienced (8.8 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

San Miguel Brewery Hong Kong Limited's employee growth, exchange listings and data sources


Key Information

  • Name: San Miguel Brewery Hong Kong Limited
  • Ticker: 236
  • Exchange: SEHK
  • Founded: 1948
  • Industry: Brewers
  • Sector: Food, Beverage & Tobacco
  • Market Cap: HK$392.249m
  • Shares outstanding: 373.57m
  • Website: https://info.sanmiguel.com.hk

Number of Employees


Location

  • San Miguel Brewery Hong Kong Limited
  • Citimark Building
  • 9th Floor
  • Sha Tin
  • New Territories
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/16 10:05
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.