SEHK:752

Stock Analysis Report

Pico Far East Holdings

Executive Summary

Pico Far East Holdings Limited, an investment holding company, engages in the exhibition and event marketing services, visual branding experiences, museum, themed environment, interior and retail, conference and show management, and related businesses worldwide.

Snowflake

Fundamentals

Excellent balance sheet average dividend payer.

Risks

  • Pico Far East Holdings is covered by less than 3 analysts.

Similar Companies

Share Price & News

How has Pico Far East Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.6%

SEHK:752

4.1%

HK Media

2.5%

HK Market


1 Year Return

-19.6%

SEHK:752

-35.2%

HK Media

-3.9%

HK Market

752 outperformed the Media industry which returned -35.2% over the past year.

752 underperformed the Market in Hong Kong which returned -3.9% over the past year.


Share holder returns

752IndustryMarket
7 Day1.6%4.1%2.5%
30 Day3.3%6.8%7.6%
90 Day6.4%-8.4%0.8%
1 Year-15.9%-19.6%-34.1%-35.2%-0.4%-3.9%
3 Year34.7%14.7%-44.9%-52.2%19.6%7.6%
5 Year86.9%41.2%-57.3%-65.4%17.7%-1.7%

Price Volatility Vs. Market

How volatile is Pico Far East Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Pico Far East Holdings undervalued based on future cash flows and its price relative to the stock market?

11.59x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Pico Far East Holdings's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Pico Far East Holdings's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Pico Far East Holdings is good value based on earnings compared to the HK Media industry average.

Pico Far East Holdings is overvalued based on earnings compared to the Hong Kong market.


Price Based on Expected Growth

Pico Far East Holdings is good value based on expected growth next year.


Price Based on Value of Assets

Pico Far East Holdings is overvalued based on assets compared to the HK Media industry average.


Next Steps

Future Growth

How is Pico Far East Holdings expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

15.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Pico Far East Holdings's revenue is expected to grow by 9% yearly, however this is not considered high growth (20% yearly).

Pico Far East Holdings's earnings are expected to grow by 15.5% yearly, however this is not considered high growth (20% yearly).

Pico Far East Holdings's revenue growth is positive but not above the Hong Kong market average.

Pico Far East Holdings's earnings growth is expected to exceed the Hong Kong market average.

Pico Far East Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.


Earnings per Share Growth Estimates


Future Return on Equity

Pico Far East Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Pico Far East Holdings performed over the past 5 years?

3.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Pico Far East Holdings's year on year earnings growth rate has been positive over the past 5 years.

Pico Far East Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Pico Far East Holdings's 1-year earnings growth is negative, it can't be compared to the HK Media industry average.


Return on Equity

Pico Far East Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Pico Far East Holdings used its assets more efficiently than the HK Media industry average last year based on Return on Assets.


Return on Capital Employed

Pico Far East Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Pico Far East Holdings's financial position?


Financial Position Analysis

Pico Far East Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Pico Far East Holdings's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Pico Far East Holdings's level of debt (23.2%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (6.2% vs 23.2% today).

Debt is well covered by operating cash flow (45.3%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 4749.3x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 6x debt.


Next Steps

Dividend

What is Pico Far East Holdings's current dividend yield, its reliability and sustainability?

6.67%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Pico Far East Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.19%).

Pico Far East Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (6.06%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.6x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.6x coverage).


Next Steps

Management

What is the CEO of Pico Far East Holdings's salary, the management and board of directors tenure and is there insider trading?

16.8yrs

Average board tenure


CEO

Lawrence Chia (58yo)

0yrs

Tenure

HK$15,094,000

Compensation

Mr. Song Huat Chia, also known as Lawrence, serves as the Chief Executive Officer of Pico Far East Holdings Ltd. and has been its Chairman since 1994. Mr. Chia joined the Pico Far East Group in 1984. He ha ...


CEO Compensation Analysis

Lawrence's remuneration is higher than average for companies of similar size in Hong Kong.

Lawrence's compensation has been consistent with company performance over the past year, both up more than 20%.


Board Age and Tenure

16.8yrs

Average Tenure

59yo

Average Age

The average tenure for the Pico Far East Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

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Ownership Breakdown


Management Team

  • Peter Sng (61yo)

    Regional Managing Director of (North America

    • Tenure: 0yrs
  • Florence Tan (58yo)

    Regional Managing Director (Japan

    • Tenure: 0yrs
  • Albert Mok (55yo)

    Executive Director

    • Tenure: 9.5yrs
    • Compensation: HK$2.35m
  • Jean Chia (45yo)

    Executive Director & President of South East Asia

    • Tenure: 3.6yrs
    • Compensation: HK$5.94m
  • Lawrence Chia (58yo)

    Chairman & CEO

    • Tenure: 0yrs
    • Compensation: HK$15.09m
  • James Chia (66yo)

    Group President

    • Tenure: 0yrs
    • Compensation: HK$7.56m
  • Danny Ku (53yo)

    Managing Director of World Image Group

    • Tenure: 0yrs
  • Choon Yong (65yo)

    Group Executive Vice President

    • Tenure: 0yrs
    • Compensation: HK$1.90m
  • Chiew Lim (43yo)

    MD of (Pico Group) and Executive Director of (Pico Shanghai Pico London & Pico Dubai)

    • Tenure: 0yrs
  • Victor Leung (51yo)

    Senior VP – Operations Management (China region) & Executive Director of Pico Beijing

    • Tenure: 0yrs

Board Members

  • Albert Mok (55yo)

    Executive Director

    • Tenure: 9.5yrs
    • Compensation: HK$2.35m
  • Jean Chia (45yo)

    Executive Director & President of South East Asia

    • Tenure: 3.6yrs
    • Compensation: HK$5.94m
  • Lawrence Chia (58yo)

    Chairman & CEO

    • Tenure: 0yrs
    • Compensation: HK$15.09m
  • Greg Crichton (68yo)

    Independent Non-Executive Director

    • Tenure: 21yrs
    • Compensation: HK$213.00k
  • Frank Lee (60yo)

    Independent Non-Executive Director

    • Tenure: 27.7yrs
    • Compensation: HK$213.00k
  • Charlie Shi (57yo)

    Independent Non-Executive Director

    • Tenure: 16.8yrs
    • Compensation: HK$243.00k
  • James Cunningham (65yo)

    Independent Non-Executive Director

    • Tenure: 14.9yrs
    • Compensation: HK$213.00k
  • Siong Chia (72yo)

    Honorary Chairman

    • Tenure: 0yrs

Company Information

Pico Far East Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pico Far East Holdings Limited
  • Ticker: 752
  • Exchange: SEHK
  • Founded: 1969
  • Industry: Advertising
  • Sector: Media
  • Market Cap: HK$3.095b
  • Shares outstanding: 1.24b
  • Website: https://www.pico.com

Number of Employees


Location

  • Pico Far East Holdings Limited
  • Pico House
  • 4 Dai Fu Street
  • Tai Po
  • New Territories
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
752SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDOct 1992
PJFBDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 1992
PCOF.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 1992

Biography

Pico Far East Holdings Limited, an investment holding company, engages in the exhibition and event marketing services, visual branding experiences, museum, themed environment, interior and retail, conferen ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/15 12:43
End of Day Share Price2019/09/13 00:00
Earnings2019/04/30
Annual Earnings2018/10/31


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.