SEHK:100

Stock Analysis Report

Executive Summary

Clear Media Limited, an investment holding company, operates as an outdoor advertising company in the People’s Republic of China.

Rewards

Trading at 21.7% below its fair value

Risk Analysis

Dividend of 2.85% is not well covered by earnings

Highly volatile share price over past 3 months

Profit margins (5.1%) are lower than last year (13.8%)



Snowflake Analysis

Excellent balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has Clear Media's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 100's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.5%

100

-7.0%

HK Media

-0.2%

HK Market


1 Year Return

-22.4%

100

-13.7%

HK Media

4.5%

HK Market

Return vs Industry: 100 underperformed the Hong Kong Media industry which returned -9.5% over the past year.

Return vs Market: 100 underperformed the Hong Kong Market which returned 6.4% over the past year.


Shareholder returns

100IndustryMarket
7 Day2.5%-7.0%-0.2%
30 Day-10.3%1.2%3.6%
90 Day58.6%7.2%7.8%
1 Year-19.8%-22.4%-12.0%-13.7%8.4%4.5%
3 Year-21.9%-30.1%-39.9%-48.1%26.8%13.9%
5 Year-5.5%-26.9%-54.5%-63.1%21.0%0.9%

Price Volatility Vs. Market

How volatile is Clear Media's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Clear Media undervalued compared to its fair value and its price relative to the market?

22.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 100 (HK$5.73) is trading below our estimate of fair value (HK$7.32)

Significantly Below Fair Value: 100 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 100 is poor value based on its PE Ratio (31.8x) compared to the Media industry average (24.1x).

PE vs Market: 100 is poor value based on its PE Ratio (31.8x) compared to the Hong Kong market (10.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 100's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 100 is overvalued based on its PB Ratio (1.2x) compared to the HK Media industry average (0.9x).


Next Steps

Future Growth

How is Clear Media forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

28.8%

Forecasted Media 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 Clear Media 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.


Next Steps

Past Performance

How has Clear Media performed over the past 5 years?

0.03%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 100 has high quality earnings.

Growing Profit Margin: 100's current net profit margins (5.1%) are lower than last year (13.8%).


Past Earnings Growth Analysis

Earnings Trend: 100's earnings have grown by 0.03% per year over the past 5 years.

Accelerating Growth: 100's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 100 had negative earnings growth (-65.2%) over the past year, making it difficult to compare to the Media industry average (-6.6%).


Return on Equity

High ROE: 100's Return on Equity (4.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Clear Media's financial position?


Financial Position Analysis

Short Term Liabilities: 100's short term assets (CN¥1.5B) exceed its short term liabilities (CN¥1.1B).

Long Term Liabilities: 100's short term assets (CN¥1.5B) do not cover its long term liabilities (CN¥2.0B).


Debt to Equity History and Analysis

Debt Level: 100 is debt free.

Reducing Debt: 100 has not had any debt for past 5 years.

Debt Coverage: 100 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 100 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: 100 has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if 100's debt is covered by short term assets.


Next Steps

Dividend

What is Clear Media's current dividend yield, its reliability and sustainability?

2.86%

Current Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%2.2%markettop25%6.1%industryaverage5.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: 100's dividend (2.85%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.17%).

High Dividend: 100's dividend (2.85%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.02%).


Stability and Growth of Payments

Stable Dividend: 100 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 100's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (93.4%), 100's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Clear Media's salary, the management and board of directors tenure and is there insider trading?

12.2yrs

Average management tenure


CEO

Zi Jing Han (63yo)

0yrs

Tenure

CN¥6,742,000

Compensation

Mr. Zi Jing Han serves as the Chief Executive Officer of Clear Media Ltd. Mr. Han has been with Clear Media Ltd. since 1998. He served as General Manager of Guangdong White Horse Group Corporation, a diver ...


CEO Compensation Analysis

Compensation vs Market: Zi Jing's total compensation ($USD978.56K) is above average for companies of similar size in the Hong Kong market ($USD340.45K).

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


Management Age and Tenure

12.2yrs

Average Tenure

63yo

Average Age

Experienced Management: 100's management team is seasoned and experienced (12.2 years average tenure).


Board Age and Tenure

10.3yrs

Average Tenure

63.5yo

Average Age

Experienced Board: 100's board of directors are seasoned and experienced ( 10.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyHK$2,227,75027 Sep 19
Mittleman Brothers, LLC
EntityCompany
Shares569,000
Max PriceHK$3.92

Ownership Breakdown

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


Management Team

  • Zi Jing Han (63yo)

    CEO & Executive Director

    • Compensation: CN¥6.74m
  • Nan Feng Zou (66yo)

    Director of Business Development

    • Tenure: 11.7yrs
    • Compensation: CN¥2.37m
  • Harrison Zhang (48yo)

    COO & Executive Director

    • Tenure: 11.7yrs
    • Compensation: CN¥4.96m
  • Joseph Tcheng (64yo)

    Chairman of the Board

    • Tenure: 4yrs
    • Compensation: CN¥1.79m
  • Jeffrey Yip

    Director of Investor Relations & Company Secretary

    • Bin Kim Lam (48yo)

      Chief Financial Officer

      • Tenure: 1.8yrs

    Board Members

    • Shou Zhi Wang (72yo)

      Independent Non-Executive Director

      • Tenure: 18.4yrs
      • Compensation: CN¥169.00k
    • Zi Jing Han (63yo)

      CEO & Executive Director

      • Compensation: CN¥6.74m
    • Nan Feng Zou (66yo)

      Director of Business Development

      • Tenure: 11.7yrs
      • Compensation: CN¥2.37m
    • Peter Maxwell Cosgrove (65yo)

      Deputy Chairman

      • Compensation: CN¥709.00k
    • Harrison Zhang (48yo)

      COO & Executive Director

      • Tenure: 11.7yrs
      • Compensation: CN¥4.96m
    • Christopher Eccleshare (63yo)

      Deputy Chairman

      • Tenure: 10.3yrs
      • Compensation: CN¥169.00k
    • Tom Manning (62yo)

      Independent Non-Executive Director

      • Tenure: 8yrs
      • Compensation: CN¥253.00k
    • Jonathan Zhu (56yo)

      Non-Executive Director

      • Tenure: 8.4yrs
      • Compensation: CN¥169.00k
    • Joseph Tcheng (64yo)

      Chairman of the Board

      • Tenure: 4yrs
      • Compensation: CN¥1.79m
    • Robert Gazzi (65yo)

      Independent Non-Executive Director

      • Tenure: 3.4yrs
      • Compensation: CN¥1.32m

    Company Information

    Clear Media Limited's company bio, employee growth, exchange listings and data sources


    Key Information

    • Name: Clear Media Limited
    • Ticker: 100
    • Exchange: SEHK
    • Founded: 1986
    • Industry: Advertising
    • Sector: Media
    • Market Cap: HK$3.136b
    • Shares outstanding: 540.64m
    • Website: https://www.clear-media.net

    Number of Employees


    Location

    • Clear Media Limited
    • Lee Garden One
    • 12th Floor
    • Causeway Bay
    • Hong Kong

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    CRML.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2001
    100SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDDec 2001
    XM8DB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2001

    Biography

    Clear Media Limited, an investment holding company, operates as an outdoor advertising company in the People’s Republic of China. It provides bus shelter advertising solutions. The company serves e-commerce, IT digital product, entertainment, beverage, food, realty, business/consumer service, realty, telecommunication, and education industries. As of December 31, 2018, it operated bus shelter advertising network of approximately 54,000 panels covering 24 cities in Mainland China. The company was founded in 1986 and is headquartered in Causeway Bay, Hong Kong. Clear Media Limited operates as a subsidiary of Clear Channel Outdoor, Inc. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/21 12:42
    End of Day Share Price2020/01/21 00:00
    Earnings2019/06/30
    Annual Earnings2018/12/31


    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.