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3600

Modern Dental Group SEHK:3600 Stock Report

Last Price

HK$3.16

Market Cap

HK$3.0b

7D

-5.7%

1Y

-56.6%

Updated

01 Jul, 2022

Data

Company Financials +
3600 fundamental analysis
Snowflake Score
Valuation6/6
Future Growth5/6
Past Performance5/6
Financial Health6/6
Dividends3/6

3600 Stock Overview

Modern Dental Group Limited, an investment holding company, engages in production and distribution of dental prosthetic devices in Europe, Greater China, North America, Australia, and internationally.

Modern Dental Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Modern Dental Group
Historical stock prices
Current Share PriceHK$3.16
52 Week HighHK$11.00
52 Week LowHK$2.45
Beta1.31
1 Month Change0%
3 Month Change5.33%
1 Year Change-56.59%
3 Year Change143.08%
5 Year Change3.27%
Change since IPO-24.76%

Recent News & Updates

Jun 28
Is Now The Time To Put Modern Dental Group (HKG:3600) On Your Watchlist?

Is Now The Time To Put Modern Dental Group (HKG:3600) On Your Watchlist?

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...

Jun 15
Is There Now An Opportunity In Modern Dental Group Limited (HKG:3600)?

Is There Now An Opportunity In Modern Dental Group Limited (HKG:3600)?

While Modern Dental Group Limited ( HKG:3600 ) might not be the most widely known stock at the moment, it saw a...

May 11
We Like These Underlying Return On Capital Trends At Modern Dental Group (HKG:3600)

We Like These Underlying Return On Capital Trends At Modern Dental Group (HKG:3600)

To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...

Apr 27
Modern Dental Group's (HKG:3600) Dividend Is Being Reduced To HK$0.044

Modern Dental Group's (HKG:3600) Dividend Is Being Reduced To HK$0.044

Modern Dental Group Limited ( HKG:3600 ) is reducing its dividend to HK$0.044 on the 22nd of June. However, the...

Shareholder Returns

3600HK Medical EquipmentHK Market
7D-5.7%0.2%1.1%
1Y-56.6%-59.5%-20.9%

Return vs Industry: 3600 exceeded the Hong Kong Medical Equipment industry which returned -59.5% over the past year.

Return vs Market: 3600 underperformed the Hong Kong Market which returned -20.9% over the past year.

Price Volatility

Is 3600's price volatile compared to industry and market?
3600 volatility
3600 Average Weekly Movement9.6%
Medical Equipment Industry Average Movement9.1%
Market Average Movement6.9%
10% most volatile stocks in HK Market13.7%
10% least volatile stocks in HK Market3.3%

Stable Share Price: 3600 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: 3600's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19866,596Godfrey Ngaihttps://www.moderndentalgp.com

Modern Dental Group Limited, an investment holding company, engages in production and distribution of dental prosthetic devices in Europe, Greater China, North America, Australia, and internationally. It operates through three segments: Fixed Prosthetic Devices, Removable Prosthetic Devices, and Others. The Fixed Prosthetic Devices segment offers restorative dental procedures, such as crowns, bridges, and implant.

Modern Dental Group Fundamentals Summary

How do Modern Dental Group's earnings and revenue compare to its market cap?
3600 fundamental statistics
Market CapHK$3.02b
Earnings (TTM)HK$360.83m
Revenue (TTM)HK$2.96b

8.4x

P/E Ratio

1.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
3600 income statement (TTM)
RevenueHK$2.96b
Cost of RevenueHK$1.40b
Gross ProfitHK$1.55b
Other ExpensesHK$1.19b
EarningsHK$360.83m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.38
Gross Margin52.47%
Net Profit Margin12.21%
Debt/Equity Ratio28.5%

How did 3600 perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

32%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 3600 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • 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 3600?

Other financial metrics that can be useful for relative valuation.

3600 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/Revenue1.1x
Enterprise Value/EBITDA5.5x
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does 3600's PE Ratio compare to its peers?

3600 PE Ratio vs Peers
The above table shows the PE ratio for 3600 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average25.2x
1789 AK Medical Holdings
60.5x39.1%HK$6.6b
1696 Sisram Medical
25.6x22.3%HK$6.3b
1858 Beijing Chunlizhengda Medical Instruments
13.5xn/aHK$8.0b
1358 PW Medtech Group
1.4xn/aHK$1.2b
3600 Modern Dental Group
8.4x20.4%HK$3.0b

Price-To-Earnings vs Peers: 3600 is good value based on its Price-To-Earnings Ratio (8.4x) compared to the peer average (25.2x).


Price to Earnings Ratio vs Industry

How does 3600's PE Ratio compare vs other companies in the Asian Medical Equipment Industry?

Price-To-Earnings vs Industry: 3600 is good value based on its Price-To-Earnings Ratio (8.4x) compared to the Hong Kong Medical Equipment industry average (17x)


Price to Earnings Ratio vs Fair Ratio

What is 3600'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.

3600 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.4x
Fair PE Ratio16.4x

Price-To-Earnings vs Fair Ratio: 3600 is good value based on its Price-To-Earnings Ratio (8.4x) compared to the estimated Fair Price-To-Earnings Ratio (16.4x).


Share Price vs Fair Value

What is the Fair Price of 3600 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3600 (HK$3.16) is trading below our estimate of fair value (HK$20.75)

Significantly Below Fair Value: 3600 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: 3600 is good value based on its PEG Ratio (0.4x)


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Future Growth

How is Modern Dental Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


20.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3600's forecast earnings growth (20.4% per year) is above the savings rate (1.6%).

Earnings vs Market: 3600's earnings (20.4% per year) are forecast to grow faster than the Hong Kong market (16.6% per year).

High Growth Earnings: 3600's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 3600's revenue (14.6% per year) is forecast to grow faster than the Hong Kong market (10.1% per year).

High Growth Revenue: 3600's revenue (14.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 3600's Return on Equity is forecast to be high in 3 years time (29.4%)


Discover growth companies

Past Performance

How has Modern Dental Group performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


25.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 3600 has high quality earnings.

Growing Profit Margin: 3600's current net profit margins (12.2%) are higher than last year (4.9%).


Past Earnings Growth Analysis

Earnings Trend: 3600's earnings have grown significantly by 25% per year over the past 5 years.

Accelerating Growth: 3600's earnings growth over the past year (234.8%) exceeds its 5-year average (25% per year).

Earnings vs Industry: 3600 earnings growth over the past year (234.8%) exceeded the Medical Equipment industry 35.4%.


Return on Equity

High ROE: 3600's Return on Equity (15.3%) is considered low.


Discover strong past performing companies

Financial Health

How is Modern Dental Group's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 3600's short term assets (HK$1.4B) exceed its short term liabilities (HK$668.3M).

Long Term Liabilities: 3600's short term assets (HK$1.4B) exceed its long term liabilities (HK$630.4M).


Debt to Equity History and Analysis

Debt Level: 3600's net debt to equity ratio (0.2%) is considered satisfactory.

Reducing Debt: 3600's debt to equity ratio has reduced from 33.9% to 28.5% over the past 5 years.

Debt Coverage: 3600's debt is well covered by operating cash flow (78%).

Interest Coverage: 3600's interest payments on its debt are well covered by EBIT (26x coverage).


Balance Sheet


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Dividend

What is Modern Dental Group current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.77%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 3600's dividend (3.77%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.73%).

High Dividend: 3600's dividend (3.77%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.83%).


Stability and Growth of Payments

Stable Dividend: 3600 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 3600's dividend payments have increased, but the company has only paid a dividend for 6 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (31.6%), 3600's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (29.7%), 3600's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

6.4yrs

Average management tenure


CEO

Godfrey Ngai (74 yo)

no data

Tenure

HK$4,500,000

Compensation

Mr. Shing Kin Ngai, also known as Godfrey, serves as the Chief Executive Officer at Modern Dental Group Limited and has been its Executive Director since July 05, 2012. Mr. Ngai is primarily responsible fo...


CEO Compensation Analysis

Compensation vs Market: Godfrey's total compensation ($USD573.44K) is above average for companies of similar size in the Hong Kong market ($USD393.09K).

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


Leadership Team

Experienced Management: 3600's management team is seasoned and experienced (6.4 years average tenure).


Board Members

Experienced Board: 3600's board of directors are considered experienced (7.8 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Modern Dental Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Modern Dental Group Limited
  • Ticker: 3600
  • Exchange: SEHK
  • Founded: 1986
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Implied Market Cap: HK$3.024b
  • Shares outstanding: 956.94m
  • Website: https://www.moderndentalgp.com

Number of Employees


Location

  • Modern Dental Group Limited
  • CEO Tower
  • 17th Floor, Room 01-07, 09-16
  • Kowloon
  • Kowloon
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/01 00:00
End of Day Share Price2022/06/30 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.