SEHK:345

Stock Analysis Report

Vitasoy International Holdings

Executive Summary

Vitasoy International Holdings Limited, together with its subsidiaries, manufactures and sells food and beverages in Mainland China, Hong Kong, Australia, New Zealand, and Singapore.


Snowflake Analysis

Flawless balance sheet with reasonable growth potential.

Share Price & News

How has Vitasoy International Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 345's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-7.7%

345

8.3%

HK Food

7.4%

HK Market


1 Year Return

-38.2%

345

-11.1%

HK Food

-22.7%

HK Market

Return vs Industry: 345 underperformed the Hong Kong Food industry which returned -10% over the past year.

Return vs Market: 345 underperformed the Hong Kong Market which returned -20.3% over the past year.


Shareholder returns

345IndustryMarket
7 Day-7.7%8.3%7.4%
30 Day-15.9%-4.8%-11.2%
90 Day-16.8%-6.3%-17.3%
1 Year-37.4%-38.2%-8.7%-11.1%-19.9%-22.7%
3 Year59.0%52.0%29.9%20.2%-5.3%-14.8%
5 Year110.3%92.9%3.5%-6.9%-8.7%-23.4%

Price Volatility Vs. Market

How volatile is Vitasoy International Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Vitasoy International Holdings undervalued compared to its fair value and its price relative to the market?

35.08x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 345 (HK$23.2) is trading above our estimate of fair value (HK$15.16)

Significantly Below Fair Value: 345 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 345 is poor value based on its PE Ratio (34.6x) compared to the Food industry average (10.6x).

PE vs Market: 345 is poor value based on its PE Ratio (34.6x) compared to the Hong Kong market (9x).


Price to Earnings Growth Ratio

PEG Ratio: 345 is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: 345 is overvalued based on its PB Ratio (7.7x) compared to the HK Food industry average (0.8x).


Next Steps

Future Growth

How is Vitasoy International Holdings forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

19.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 345's forecast earnings growth (19.1% per year) is above the savings rate (1.6%).

Earnings vs Market: 345's earnings (19.1% per year) are forecast to grow faster than the Hong Kong market (12.8% per year).

High Growth Earnings: 345's earnings are forecast to grow, but not significantly.

Revenue vs Market: 345's revenue (10.7% per year) is forecast to grow faster than the Hong Kong market (9.9% per year).

High Growth Revenue: 345's revenue (10.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 345's Return on Equity is forecast to be high in 3 years time (21.7%)


Next Steps

Past Performance

How has Vitasoy International Holdings performed over the past 5 years?

12.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 345 has high quality earnings.

Growing Profit Margin: 345's current net profit margins (9.2%) are lower than last year (9.7%).


Past Earnings Growth Analysis

Earnings Trend: 345's earnings have grown by 12.2% per year over the past 5 years.

Accelerating Growth: 345's earnings growth over the past year (0.7%) is below its 5-year average (12.2% per year).

Earnings vs Industry: 345 earnings growth over the past year (0.7%) underperformed the Food industry 8.8%.


Return on Equity

High ROE: 345's Return on Equity (21.7%) is considered high.


Next Steps

Financial Health

How is Vitasoy International Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 345's short term assets (HK$2.6B) exceed its short term liabilities (HK$2.3B).

Long Term Liabilities: 345's short term assets (HK$2.6B) exceed its long term liabilities (HK$295.4M).


Debt to Equity History and Analysis

Debt Level: 345's debt to equity ratio (1.4%) is considered satisfactory.

Reducing Debt: 345's debt to equity ratio has reduced from 7.5% to 1.4% over the past 5 years.

Debt Coverage: 345's debt is well covered by operating cash flow (2605.4%).

Interest Coverage: 345 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: 345 has a high level of physical assets or inventory.

Debt Coverage by Assets: 345's debt is covered by short term assets (assets are 54.9x debt).


Next Steps

Dividend

What is Vitasoy International Holdings's current dividend yield, its reliability and sustainability?

1.78%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 345's dividend (1.8%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.67%).

High Dividend: 345's dividend (1.8%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.29%).


Stability and Growth of Payments

Stable Dividend: 345's dividend payments have been volatile in the past 10 years.

Growing Dividend: 345's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (62.4%), 345's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 345's dividends in 3 years are forecast to be covered by earnings (64.4% payout ratio).


Next Steps

Management

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

4.7yrs

Average board tenure


CEO

Roberto Guidetti (56yo)

6.83s

Tenure

HK$17,377,000

Compensation

Mr. Roberto Guidetti has been the Group Chief Executive Officer at Vitasoy International Holdings Limited since April 1, 2013 and Executive Director since April 01, 2014. As of 2012, Mr. Guidetti has been  ...


CEO Compensation Analysis

Compensation vs Market: Roberto's total compensation ($USD2.24M) is above average for companies of similar size in the Hong Kong market ($USD488.81K).

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


Board Members

NamePositionTenureCompensationOwnership
Yau-lai Lo
Executive Chairmanno dataHK$13.01m8.49% HK$2.1b
Roberto Guidetti
Group CEO & Executive Director 6.83yrsHK$17.38m0.41% HK$102.1m
Eugene Lye
Executive Director2.42yrsHK$2.95m0.042% HK$10.3m
Chi-Ping Chung
Independent Non-Executive Director2.67yrsHK$340.00kno data
Anthony John Liddell Nightingale
Independent Non-Executive Director4.67yrsHK$434.00kno data
Tak-Shing Lo
Non-Executive Director2.67yrsHK$125.00k0.86% HK$213.4m
Jan Peter Seeberg Erlund
Independent Non-Executive Director13.67yrsHK$434.00k0.014% HK$3.5m
Mo-Ling Lo
Non-Executive Director27.17yrsHK$142.00k1.86% HK$459.3m
Kwok-Po Li
Independent Non-Executive Director26.17yrsHK$446.00k0.94% HK$232.0m
Paul Jeremy Brough
Independent Non-Executive Director3.42yrsHK$459.00kno data

4.7yrs

Average Tenure

68.5yo

Average Age

Experienced Board: 345's board of directors are considered experienced (4.8 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: 345 insiders have only sold shares 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

Vitasoy International Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vitasoy International Holdings Limited
  • Ticker: 345
  • Exchange: SEHK
  • Founded: 1940
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: HK$24.680b
  • Shares outstanding: 1.06b
  • Website: https://www.vitasoy.com

Number of Employees


Location

  • Vitasoy International Holdings Limited
  • No. 1 Kin Wong Street
  • Tuen Mun
  • New Territories
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VTSY.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDApr 1994
345SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDApr 1994
345SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDApr 1994
345SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDApr 1994

Biography

Vitasoy International Holdings Limited, together with its subsidiaries, manufactures and sells food and beverages in Mainland China, Hong Kong, Australia, New Zealand, and Singapore. The company manufactures and sells soya milk and related products, tea, water, juice, tofu, etc. In addition, it operates tuck shops and catering business, as well as invests in properties. The company sells its products through distributors and retailers. Vitasoy International Holdings Limited was founded in 1940 and is based in Tuen Mun, Hong Kong. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 12:40
End of Day Share Price2020/03/31 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.