Hengan International Group
Hengan International Group Company Limited, an investment holding company, manufactures, distributes, and sells personal hygiene products in the People’s Republic of China, Hong Kong, and internationally. The last earnings update was 10 days ago. More info.
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1044 Share Price and Events
7 Day Returns
1 Year Returns
1044 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Hengan International Group (1044) | -0.1% | 2.6% | 24% | -4.9% | -1.1% | -13.5% |
| HK Personal Products | -0.9% | 3% | 20.3% | -6.1% | -11% | -16.6% |
| HK Market | 0.3% | 2.3% | 10.5% | -4.8% | 27.1% | 20.8% |
1 Year Return vs Industry and Market
- 1044 outperformed the Personal Products industry which returned -6.1% over the past year.
1044 Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Hengan International Group
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Hengan International Group.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 19 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.4% |
| Perpetual Growth Rate | 10-Year HK Government Bond Rate | 2% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year HK Govt Bond Rate | 2% |
| Equity Risk Premium | S&P Global | 6% |
| Personal Products Unlevered Beta | Simply Wall St/ S&P Global | 0.68 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.68 (1 + (1- 25%) (34.13%)) |
0.902 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.9 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.902 * 5.96%) |
7.38% |
Discounted Cash Flow Calculation for SEHK:1044 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Hengan International Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (CNY, Millions) | Source |
Present Value Discounted (@ 7.38%) |
|
|---|---|---|---|
| 2019 | 4,024.99 | Analyst x12 | 3,748.43 |
| 2020 | 4,211.37 | Analyst x11 | 3,652.52 |
| 2021 | 4,633.25 | Analyst x9 | 3,742.31 |
| 2022 | 6,803.00 | Analyst x1 | 5,117.27 |
| 2023 | 7,143.00 | Analyst x1 | 5,003.84 |
| 2024 | 7,429.89 | Est @ 4.02% | 4,847.18 |
| 2025 | 7,683.42 | Est @ 3.41% | 4,668.17 |
| 2026 | 7,913.12 | Est @ 2.99% | 4,477.38 |
| 2027 | 8,126.26 | Est @ 2.69% | 4,282.05 |
| 2028 | 8,328.31 | Est @ 2.49% | 4,086.98 |
| Present value of next 10 years cash flows | CN¥43,626.14 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CN¥8,328.31 × (1 + 2%) ÷ (7.38% – 2%) |
CN¥158,047.99 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CN¥158,047.99 ÷ (1 + 7.38%)10 |
CN¥77,559.43 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CN¥43,626.14 + CN¥77,559.43 |
CN¥121,185.56 |
| Equity Value per Share (CNY) |
= Total value / Shares Outstanding
= CN¥121,185.56 / 1,189.67 |
CN¥101.86 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | CNY/HKD
(Reporting currency to currency of SEHK:1044) |
1.169 |
| Value per Share (HKD) |
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥101.86 x 1.169 |
HK$119.12 |
| Value per share (HKD) | From above. | HK$119.12 |
| Current discount | Discount to share price of
HK$69.90
= -1 x (HK$69.90 - HK$119.12) / HK$119.12 |
41.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Hengan International Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Hengan International Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Hengan International Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Hengan International Group's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in CNY | CN¥3.15 |
| SEHK:1044 Share Price ** | SEHK (2019-04-18) in HKD | HK$69.9 |
| SEHK:1044 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.855 | CN¥59.77 |
| Hong Kong Personal Products Industry PE Ratio | Median Figure of 9 Publicly-Listed Personal Products Companies | 18.97x |
| Hong Kong Market PE Ratio | Median Figure of 1,474 Publicly-Listed Companies | 12.01x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Hengan International Group.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SEHK:1044 Share Price ÷ EPS (both in CNY) = 59.77 ÷ 3.15 |
18.97x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hengan International Group is good value based on earnings compared to the HK Personal Products industry average.
- Hengan International Group is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does
Hengan International Group's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 18.97x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts |
8.4%per year |
| Asia Personal Products Industry PEG Ratio | Median Figure of 9 Publicly-Listed Personal Products Companies | 3.2x |
| Hong Kong Market PEG Ratio | Median Figure of 463 Publicly-Listed Companies | 0.87x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 18.97x ÷ 8.4% |
2.26x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hengan International Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Hengan International Group's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in CNY | CN¥13.87 |
| SEHK:1044 Share Price * | SEHK (2019-04-18) in HKD | HK$69.9 |
| SEHK:1044 Share Price converted to CNY reporting currency | Exchange rate (HKD/ CNY) 0.855 | CN¥59.77 |
| Hong Kong Personal Products Industry PB Ratio | Median Figure of 15 Publicly-Listed Personal Products Companies | 1.5x |
| Hong Kong Market PB Ratio | Median Figure of 2,149 Publicly-Listed Companies | 1.03x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SEHK:1044 Share Price ÷ Book Value per Share (both in CNY) = 59.77 ÷ 13.87 |
4.31x |
* Primary Listing of Hengan International Group.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hengan International Group is overvalued based on assets compared to the HK Personal Products industry average.
Value checks
We assess Hengan International Group's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Personal Products industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Personal Products industry average (and greater than 0)? (1 check) Hengan International Group has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
1044 Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Hengan International Group's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
- Hengan International Group's earnings growth is positive but not above the Hong Kong market average.
- Hengan International Group's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SEHK:1044 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts | 8.4% |
| SEHK:1044 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts | 6.8% |
| Hong Kong Personal Products Industry Earnings Growth Rate | Market Cap Weighted Average | 9.1% |
| Asia Personal Products Industry Revenue Growth Rate | Market Cap Weighted Average | 10.1% |
| Hong Kong Market Earnings Growth Rate | Market Cap Weighted Average | 11.8% |
| Hong Kong Market Revenue Growth Rate | Market Cap Weighted Average | 11.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 25,138 | 5,471 | 4,875 | 13 |
| 2020-12-31 | 23,760 | 5,296 | 4,653 | 17 |
| 2019-12-31 | 22,176 | 4,922 | 4,259 | 16 |
| Date (Data in CNY Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 20,514 | 3,962 | 3,800 |
| 2018-09-30 | 20,005 | 3,843 | |
| 2018-06-30 | 21,242 | 3,846 | 3,887 |
| 2018-03-31 | 20,534 | 3,936 | 3,841 |
| 2017-12-31 | 18,080 | 4,026 | 3,794 |
| 2017-09-30 | 18,250 | 3,671 | |
| 2017-06-30 | 18,420 | 3,810 | 3,549 |
| 2017-03-31 | 18,849 | 3,949 | 3,432 |
| 2016-12-31 | 19,277 | 4,087 | 3,315 |
| 2016-09-30 | 19,161 | 3,807 | 3,310 |
| 2016-06-30 | 19,044 | 3,527 | 3,304 |
| 2016-03-31 | 18,853 | 3,499 | 3,256 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
All data from Hengan International Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 4.19 | 4.79 | 3.81 | 10.00 |
| 2020-12-31 | 3.87 | 4.39 | 2.83 | 15.00 |
| 2019-12-31 | 3.55 | 3.79 | 2.95 | 16.00 |
| Date (Data in CNY Millions) | EPS * |
|---|---|
| 2018-12-31 | 3.15 |
| 2018-09-30 | 3.19 |
| 2018-06-30 | 3.22 |
| 2018-03-31 | 3.19 |
| 2017-12-31 | 3.15 |
| 2017-09-30 | 3.04 |
| 2017-06-30 | 2.94 |
| 2017-03-31 | 2.84 |
| 2016-12-31 | 2.73 |
| 2016-09-30 | 2.72 |
| 2016-06-30 | 2.71 |
| 2016-03-31 | 2.67 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Hengan International Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
Future performance checks
We assess Hengan International Group's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Hengan International Group has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
1044 Past Performance
How has Hengan International Group performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Hengan International Group's year on year earnings growth rate has been positive over the past 5 years.
- Hengan International Group's 1-year earnings growth is less than its 5-year average (0.2% vs 6%)
- Hengan International Group's earnings growth has not exceeded the HK Personal Products industry average in the past year (0.2% vs 0.5%).
Earnings and Revenue History
All data from Hengan International Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CNY Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 20,513.88 | 3,799.81 | 3,468.32 | |
| 2018-09-30 | 20,005.35 | 3,843.41 | 3,502.33 | |
| 2018-06-30 | 21,242.28 | 3,887.01 | 5,296.26 | |
| 2018-03-31 | 20,533.66 | 3,840.53 | 5,239.16 | |
| 2017-12-31 | 18,079.56 | 3,794.04 | 3,422.13 | |
| 2017-09-30 | 18,249.63 | 3,671.32 | 3,839.16 | |
| 2017-06-30 | 18,419.70 | 3,548.61 | 4,256.18 | |
| 2017-03-31 | 18,848.55 | 3,431.77 | 4,730.12 | |
| 2016-12-31 | 19,277.40 | 3,314.93 | 5,204.05 | |
| 2016-09-30 | 19,160.61 | 3,309.58 | 4,995.36 | |
| 2016-06-30 | 19,043.83 | 3,304.23 | 4,786.67 | |
| 2016-03-31 | 18,853.20 | 3,255.91 | 4,692.22 | |
| 2015-12-31 | 18,662.58 | 3,207.59 | 4,597.78 | |
| 2015-09-30 | 19,966.87 | 3,346.19 | 5,200.00 | |
| 2015-06-30 | 18,580.06 | 3,235.62 | 4,895.07 | |
| 2015-03-31 | 18,816.58 | 3,183.17 | 5,006.79 | |
| 2014-12-31 | 19,060.30 | 3,131.94 | 5,120.43 | |
| 2014-09-30 | 18,458.42 | 2,985.46 | 4,901.26 | |
| 2014-06-30 | 18,349.50 | 2,918.54 | 4,812.79 | |
| 2014-03-31 | 17,654.10 | 2,948.70 | 4,506.67 | |
| 2013-12-31 | 16,542.01 | 2,905.33 | 4,097.63 | |
| 2013-09-30 | 16,214.11 | 2,949.02 | 3,887.96 | |
| 2013-06-30 | 15,757.05 | 2,970.70 | 3,645.45 | |
| 2013-03-31 | 15,382.08 | 2,910.54 | 3,500.07 | |
| 2012-12-31 | 14,897.60 | 2,829.82 | 3,328.84 | |
| 2012-09-30 | 14,768.77 | 2,680.61 | 3,347.04 | |
| 2012-06-30 | 14,671.36 | 2,534.71 | 3,373.27 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Whilst Hengan International Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
- Hengan International Group used its assets more efficiently than the HK Personal Products industry average last year based on Return on Assets.
- Hengan International Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Hengan International Group's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Personal Products industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Hengan International Group has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
1044 Health
How is Hengan International Group's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Hengan International Group's finances.
The net worth of a company is the difference between its assets and liabilities.
- Hengan International Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Hengan International Group's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Hengan International Group Company Filings, last reported 3 months ago.
| Date (Data in CNY Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 16,998.68 | 24,269.58 | 21,785.23 |
| 2018-09-30 | 16,998.68 | 24,269.58 | 21,785.23 |
| 2018-06-30 | 17,007.71 | 18,137.05 | 17,895.51 |
| 2018-03-31 | 17,007.71 | 18,137.05 | 17,895.51 |
| 2017-12-31 | 16,344.30 | 19,085.41 | 18,605.81 |
| 2017-09-30 | 16,344.30 | 19,085.41 | 18,605.81 |
| 2017-06-30 | 15,473.55 | 19,887.86 | 18,415.55 |
| 2017-03-31 | 15,473.55 | 19,887.86 | 18,415.55 |
| 2016-12-31 | 14,760.86 | 15,917.10 | 14,952.00 |
| 2016-09-30 | 14,760.86 | 15,917.10 | 14,952.00 |
| 2016-06-30 | 14,136.01 | 11,672.87 | 11,016.98 |
| 2016-03-31 | 14,136.01 | 11,672.87 | 11,016.98 |
| 2015-12-31 | 15,091.80 | 14,355.23 | 14,944.70 |
| 2015-09-30 | 14,663.11 | 14,054.07 | 14,631.17 |
| 2015-06-30 | 14,951.66 | 16,323.93 | 17,551.97 |
| 2015-03-31 | 14,947.96 | 16,319.89 | 17,547.63 |
| 2014-12-31 | 14,447.17 | 16,439.99 | 17,183.93 |
| 2014-09-30 | 14,278.92 | 16,248.53 | 16,983.81 |
| 2014-06-30 | 13,613.63 | 17,959.46 | 18,165.44 |
| 2014-03-31 | 13,598.13 | 17,939.02 | 18,144.77 |
| 2013-12-31 | 13,209.85 | 15,162.61 | 15,422.18 |
| 2013-09-30 | 13,354.25 | 15,328.36 | 15,590.77 |
| 2013-06-30 | 12,484.64 | 15,677.78 | 16,112.63 |
| 2013-03-31 | 12,623.10 | 15,851.65 | 16,291.33 |
| 2012-12-31 | 11,587.42 | 9,029.64 | 7,842.56 |
| 2012-09-30 | 11,682.94 | 9,104.08 | 7,907.21 |
| 2012-06-30 | 10,898.78 | 7,418.66 | 5,924.52 |
- Hengan International Group's level of debt (142.8%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (115% vs 142.8% today).
- Debt is not well covered by operating cash flow (16.3%, less than 20% of total debt).
- Hengan International Group earns more interest than it pays, coverage of interest payments is not a concern.
Financial health checks
We assess Hengan International Group's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Hengan International Group has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
1044 Dividends
What is Hengan International Group's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
HK$2,000 of
Hengan International Group
shares you are expected to receive
HK$74
in your first year as a dividend.
Dividend Amount
- Hengan International Group's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.94%).
- Hengan International Group's dividend is below the markets top 25% of dividend payers in Hong Kong (5.34%).
Upcoming dividend payment
Purchase Hengan International Group before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
| Hong Kong Personal Products Industry Average Dividend Yield | Market Cap Weighted Average of 6 Stocks | 3.7% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 965 Stocks | 3.4% |
| Hong Kong Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Hong Kong Bottom 25% Dividend Yield | 25th Percentile | 1.9% |
| Hong Kong Top 25% Dividend Yield | 75th Percentile | 5.3% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CN¥) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | ||
| 2021-12-31 | 2.76 | 14.00 |
| 2020-12-31 | 2.61 | 18.00 |
| 2019-12-31 | 2.40 | 18.00 |
| Date (Data in CN¥) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-12 | 2.200 | 3.685 |
| 2019-03-19 | 2.200 | 3.728 |
| 2018-08-22 | 2.150 | 3.904 |
| 2018-04-12 | 2.100 | 3.491 |
| 2018-03-22 | 2.100 | 3.437 |
| 2017-08-24 | 2.050 | 3.256 |
| 2017-03-21 | 1.950 | 3.817 |
| 2016-03-22 | 1.747 | 3.240 |
| 2015-04-16 | 1.598 | 2.553 |
| 2015-03-24 | 1.598 | 2.107 |
| 2014-04-15 | 1.458 | 2.245 |
| 2014-03-25 | 1.478 | 2.272 |
| 2013-03-26 | 1.480 | 2.223 |
| 2012-04-18 | 1.081 | 1.802 |
| 2012-03-27 | 1.093 | 1.712 |
| 2011-04-19 | 1.135 | 2.055 |
| 2011-03-29 | 1.176 | 2.293 |
| 2010-09-10 | 1.009 | 1.825 |
| 2010-03-25 | 1.043 | 1.948 |
| 2009-09-11 | 0.878 | 1.906 |
| 2009-04-23 | 0.704 | 2.100 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Hengan International Group's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.4x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
Income/ dividend checks
We assess Hengan International Group's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Hengan International Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Hengan International Group has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
1044 Management
CEO
| COMPENSATION | CN¥1,288,000 |
| AGE | 65 |
CEO Bio
Mr. Lin Chit Hui serves as a Deputy Chairman and Chief Executive Officer of Hengan International Group Company Limited and has been its Executive Director since August 26, 1998. Mr. Hui is responsible for strategy planning and the overall management of Hengan International Group Company Limited. He has been a Non Independent Non-Executive Chairman and Non Independent Non-Executive of Wang-Zheng Berhad since September 25, 2017 and previously served as its Executive Director from June 15, 2017 to September 25, 2017. He has over 20 years' experience in trading, business management and development. Prior to engaging in the garment processing and exporting business, he managed a local transportation company. He serves as founding shareholder of Hengan Group and serves as Director of a number of its subsidiaries. He served as Chairman of Qinqin Foodstuffs Group (Cayman) Company Limited until April 12, 2017 and has been its Non-Executive Director since March 22, 2016. He serves as Non-Executive Director of Qinqing Foodstuffs Group (Cayman) Company. He serves as a Director of most of Qinqin Foodstuffs Group's subsidiaries. Mr. Hui has the title of senior economist in the PRC. He serves as Deputy Chairman of All-China General Chamber of Industry and Commerce, chairman of Fujian Province Industry and Trade Association, United Nations Maritime-Continental Silk Road Cities Alliance and the Jinjiang City Charity Federation. Mr. Hui serves as the Chairman of Quanzhou City Trade Association. He serves as Deputy Chairman of Political Consultative Conference in Quanzhou City. He served as Deputy Chairman of Fujian Province Industry and Trade Association. He served as a Deputy Chairman of All-China Federation of Industry and Commerce. He was also a Deputy Chairman of the Ninth, Tenth and Eleventh Political Consultative Conference in Quanzhou City and the Chairman of the Tenth, Eleventh, Twelfth and Thirteenth Quanzhou Federation of Industry and Commence. He received his formal education up to secondary school.
CEO Compensation
- Lin-Chit's compensation has been consistent with company performance over the past year.
- Lin-Chit's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure
Average tenure and age of the Hengan International Group management team in years:
- The tenure for the Hengan International Group management team is about average.
Management Team
Man Bok Sze
Chairman of the Board
CN¥390K
68
Lin-Chit Hui
Executive Deputy Chairman & CEO
CN¥1M
65
Da Xu
CFO & Executive Director
CN¥793K
51
2.4 yrs
Da Xu
CFO & Executive Director
CN¥70K
51
2.4 yrs
Shui Xu
COO, CEO of Operation Service Centre
CN¥2M
49
Ching Hung
Head of Purchasing Tender Assignments & Executive Director
CN¥204K
68
Ching Hui
Director of Supply Chain Management & Executive Director
CN¥589K
33
Wong Sze
Executive Director
CN¥55K
42
Fangsheng Zhou
Independent Non-Executive Director
CN¥104K
69
2.3 yrs
Wai Li
Deputy CFO
CN¥1M
40
2.3 yrs
Board of Directors Tenure
Average tenure and age of the Hengan International Group board of directors in years:
- The tenure for the Hengan International Group board of directors is about average.
Board of Directors
Man Bok Sze
Chairman of the Board
CN¥390K
68
Lin-Chit Hui
Executive Deputy Chairman & CEO
CN¥1M
65
Da Xu
CFO & Executive Director
CN¥793K
51
20.7 yrs
Da Xu
CFO & Executive Director
CN¥70K
51
20.7 yrs
Shui Xu
COO, CEO of Operation Service Centre
CN¥2M
49
8.8 yrs
Ching Hui
Director of Supply Chain Management & Executive Director
CN¥589K
33
8.8 yrs
Wong Sze
Executive Director
CN¥55K
42
8.8 yrs
Fangsheng Zhou
Independent Non-Executive Director
CN¥104K
69
6.3 yrs
Wai Li
Deputy CFO
CN¥1M
40
2.1 yrs
Ada Wong
Independent Non-Executive Director
CN¥104K
58
20.5 yrs
Who owns this company?
Recent Insider Trading
- Hengan International Group insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | Value (HK$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 16. Apr 19 | Buy | JPMorgan Chase & Co, Private Banking and Investment Banking Investments | Company | 11. Apr 19 | 11. Apr 19 | 1,768,431 | HK$70.05 | HK$123,875,058 | ||
| 15. Apr 19 | Sell | JPMorgan Chase & Co, Private Banking and Investment Banking Investments | Company | 10. Apr 19 | 10. Apr 19 | -732,122 | HK$70.62 | HK$-51,705,969 | ||
| 15. Apr 19 | Buy | J.P. Morgan Asset Management, Inc. | Company | 10. Apr 19 | 10. Apr 19 | 484,000 | HK$70.62 | HK$34,182,403 | ||
| 12. Apr 19 | Sell | Da Xu | Individual | 10. Apr 19 | 10. Apr 19 | -800,000 | HK$70.80 | HK$-56,639,997 | ||
| 12. Apr 19 | Buy | J.P. Morgan Asset Management, Inc. | Company | 09. Apr 19 | 09. Apr 19 | 1,411,385 | HK$70.69 | HK$99,774,619 | ||
| 14. Dec 18 | Buy | Lin-Chit Hui | Individual | 14. Dec 18 | 14. Dec 18 | 1,000,000 | HK$55.37 | HK$55,374,000 | ||
| 13. Dec 18 | Buy | Man Bok Sze | Individual | 12. Dec 18 | 12. Dec 18 | 437,500 | HK$56.28 | HK$24,620,750 | ||
| 13. Dec 18 | Buy | Lin-Chit Hui | Individual | 13. Dec 18 | 13. Dec 18 | 2,000,000 | HK$54.85 | HK$109,701,999 | ||
| 13. Dec 18 | Buy | Man Bok Sze | Individual | 13. Dec 18 | 13. Dec 18 | 4,422,800 | HK$54.98 | HK$243,169,968 | ||
| 10. Dec 18 | Buy | Wong Sze | Individual | 07. Dec 18 | 07. Dec 18 | 700,000 | HK$61.85 | HK$43,295,001 | ||
| 17. Oct 18 | Sell | Capital Research and Management Company | Company | 15. Oct 18 | 15. Oct 18 | -2,786,000 | HK$63.10 | HK$-175,790,461 | ||
| 11. Aug 18 | Buy | Capital Research and Management Company | Company | 09. Aug 18 | 09. Aug 18 | 485,000 | HK$67.88 | HK$32,921,122 | ||
| 21. Jul 18 | Buy | Wan Li Company Limited | Company | 20. Jul 18 | 20. Jul 18 | 50,000 | HK$70.05 | HK$3,502,500 | ||
Management checks
We assess Hengan International Group's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Hengan International Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
1044 News
Simply Wall St News
Should We Be Delighted With Hengan International Group Company Limited's (HKG:1044) ROE Of 22%?
We'll use ROE to examine Hengan International Group Company Limited (HKG:1044), by way of a worked example. … Our data shows Hengan International Group has a return on equity of 22% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleHow Should Investors Feel About Hengan International Group Company Limited's (HKG:1044) CEO Pay?
Lin-Chit Hui is the CEO of Hengan International Group Company Limited (HKG:1044). … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … At the time of writing our data says that Hengan International Group Company Limited has a market cap of HK$84b, and is paying total annual CEO compensation of CN¥1.3m.
Simply Wall St - – Full articleDon't Sell Hengan International Group Company Limited (HKG:1044) Before You Read This
We'll look at Hengan International Group Company Limited's (HKG:1044) P/E ratio and reflect on what it tells us about the company's share price. … Hengan International Group has a price to earnings ratio of 18.67, based on the last twelve months. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleHow Do Analysts See Hengan International Group Company Limited (HKG:1044) Performing In The Next Couple Of Years?
The latest earnings release Hengan International Group Company Limited's (HKG:1044) announced in December 2018a … company
Simply Wall St - – Full articleDoes Hengan International Group Company Limited (HKG:1044) Generate Enough Cash?
Hengan International Group Company Limited (HKG:1044) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … I’ve analysed below, the health and outlook of Hengan International Group’s cash flow, which will help you understand the stock from a cash standpoint. … Hengan International Group generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating
Simply Wall St - – Full articleShould You Consider Hengan International Group Company Limited (HKG:1044)?
Hengan International Group Company Limited (HKG:1044) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … , dividend-paying company with a
Simply Wall St - – Full articleIs Hengan International Group Company Limited (HKG:1044) Expensive For A Reason? A Look At The Intrinsic Value
Help shape the future of investing tools and you could win a $250 gift card! … by projecting its future cash flows and then discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.
Simply Wall St - – Full articleWhy Hengan International Group Company Limited (HKG:1044) Is A Dividend Rockstar
Over the past 10 years Hengan International Group Company Limited (HKG:1044) has been paying dividends to shareholders. … Let's dig deeper into whether Hengan International Group should have a place in your portfolio. … See our latest analysis for Hengan International Group?
Simply Wall St - – Full articleIs Hengan International Group Company Limited's (HKG:1044) ROE Of 23% Impressive?
To keep the lesson grounded in practicality, we'll use ROE to better understand Hengan International Group Company Limited (HKG:1044). … Our data shows Hengan International Group has a return on equity of 23% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleCould The Hengan International Group Company Limited (HKG:1044) Ownership Structure Tell Us Something Useful?
If you want to know who really controls Hengan International Group Company Limited (HKG:1044), then you'll have to look at the makeup of its share registry. … Hengan International Group has a market capitalization of HK$68b, so it's too big to fly under the radar. … We'd expect to see both institutions and retail investors owning a portion of the company.
Simply Wall St - – Full article1044 Company Info
Description
Hengan International Group Company Limited, an investment holding company, manufactures, distributes, and sells personal hygiene products in the People’s Republic of China, Hong Kong, and internationally. The company offers box tissue papers, first-aid products, enema, skin care and cleansing products, baby skin care products, sanitary napkins and pantiliners, kitchen towels/papers, pocket handkerchiefs, preservation bags/paper, toilet rolls, adult and baby diapers, and wet tissues. It is also involved in the trading of various products for ladies, pregnant women, infants, and kids. The company was founded in 1985 and is headquartered in Jinjiang, the People’s Republic of China.
Details
| Name: | Hengan International Group Company Limited |
| 1044 | |
| Exchange: | SEHK |
| Founded: | 1985 |
| HK$83,158,101,948 | |
| 1,189,672,417 | |
| Website: | http://www.hengan.com |
| Address: |
Hengan International Group Company Limited Hengan Industrial City, Anhai Town, Jinjiang, Fujian Province, 362261, China |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SEHK | 1044 | Ordinary Shares | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 08. Dec 1998 | |
| OTCPK | HEGI.F | Ordinary Shares | Pink Sheets LLC | US | USD | 08. Dec 1998 | |
| DB | HGNC | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 08. Dec 1998 | |
| SHSC | 1044 | Ordinary Shares | Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect | HK | HKD | 08. Dec 1998 | |
| SZSC | 1044 | Ordinary Shares | The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect | HK | HKD | 08. Dec 1998 | |
| OTCPK | HEGI.Y | UNSPONSORD ADR | Pink Sheets LLC | US | USD | 05. Nov 2008 |
Number of employees
Current staff
Industry
| Personal Products | |
| Household |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/22 12:38 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/18 |
| Last earnings filing: | 2019/04/12 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
