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.


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

4.5%

752

6.8%

HK Media

3.3%

HK Market


1 Year Return

-14.0%

752

-27.6%

HK Media

1.6%

HK Market

Return vs Industry: 752 exceeded the Hong Kong Media industry which returned -27.6% over the past year.

Return vs Market: 752 underperformed the Hong Kong Market which returned 1.6% over the past year.


Shareholder returns

752IndustryMarket
7 Day4.5%6.8%3.3%
30 Day2.4%5.6%-0.009%
90 Day1.6%-12.1%-5.1%
1 Year-10.1%-14.0%-26.3%-27.6%5.3%1.6%
3 Year29.0%9.8%-47.1%-53.9%16.1%4.4%
5 Year78.1%34.6%-56.1%-64.8%20.4%0.3%

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 compared to its fair value and its price relative to the market?

11.91x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: 752 (HK$2.57) is trading above our estimate of fair value (HK$2.22)

Significantly Undervalued: 752 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 752 is good value based on its PE Ratio (11.9x) compared to the Media industry average (20x).

PE vs Market: 752 is poor value based on its PE Ratio (11.9x) compared to the Hong Kong market (10.4x).


Price to Earnings Growth Ratio

Low PEG Ratio: 752 is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: 752 is overvalued based on its PB Ratio (1.6x) compared to the HK Media industry average (0.7x).


Next Steps

Future Growth

How is Pico Far East Holdings forecast 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 Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 752's forecast earnings growth (15.5% per year) is above the savings rate (2%).

Earnings vs Market: 752's earnings (15.5% per year) are forecast to grow faster than the Hong Kong market (11.3% per year).

High Growth Earnings: 752's earnings are forecast to grow, but not significantly.

Revenue vs Market: 752's revenue (9% per year) is forecast to grow slower than the Hong Kong market (10.2% per year).

High Growth Revenue: 752's revenue (9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: 752's Return on Equity is forecast to be low in 3 years time (16.5%).


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

Earnings Trend: 752's earnings have grown by 3.3% per year over the past 5 years.

Accelerating Growth: 752's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 752 had negative earnings growth (-6.6%) over the past year, making it difficult to compare to the Media industry average (-15.7%).


Return on Equity

High ROE: 752's Return on Equity (12.4%) is considered low.


Return on Assets

ROA vs Industry: 752 has a higher Return on Assets than the Media industry average last year.


Return on Capital Employed

ROCE Improving: 752's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Pico Far East Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 752's short term assets (HK$2.9B) exceeds its short term liabilities (HK$2.0B)

Long Term Liabilities: 752's short term assets (2.9B) exceeds its long term liabilities (455.5M)


Debt to Equity History and Analysis

Debt Level: 752's debt to equity ratio (23.2%) is considered satisfactory

Reducing Debt: 752's debt to equity ratio has increased from 6.2% to 23.2% over the past 5 years.

Debt Coverage: 752's debt is well covered by operating cash flow (45.3%).

Interest Coverage: 752's interest payments on its debt are well covered by EBIT (4749.3x coverage).


Balance Sheet

Inventory Level: 752 has a low level of unsold assets or inventory.

Debt Coverage by Assets: 752's debt is covered by short term assets (assets are 6.001560x debt).


Next Steps

Dividend

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

5.25%

Current Dividend Yield


Dividend Yield vs Market

company5.3%marketbottom25%2.3%markettop25%6.3%industryaverage5.8%forecastin3Years6.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 752's dividend (5.25%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.26%).

High Dividend: 752's dividend (5.25%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.25%).

Stable Dividend: 752's dividend payments have been volatile in the past 10 years.

Growing Dividend: 752's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (62.6%), 752's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 752's dividends in 3 years are forecast to be covered by earnings (61% payout ratio).


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

Compensation vs. Market: Lawrence's total compensation ($USD1.92M) is about average for companies of similar size in the Hong Kong market ($USD299.31K).

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


Board Age and Tenure

16.8yrs

Average Tenure

59yo

Average Age

Experienced Board: 752's board of directors are seasoned and experienced ( 16.8 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

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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: 9.6yrs
    • Compensation: HK$2.35m
  • Jean Chia (45yo)

    Executive Director & President of South East Asia

    • Tenure: 3.7yrs
    • 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: 9.6yrs
    • Compensation: HK$2.35m
  • Jean Chia (45yo)

    Executive Director & President of South East Asia

    • Tenure: 3.7yrs
    • Compensation: HK$5.94m
  • Lawrence Chia (58yo)

    Chairman & CEO

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

    Independent Non-Executive Director

    • Tenure: 21.1yrs
    • Compensation: HK$213.00k
  • Frank Lee (60yo)

    Independent Non-Executive Director

    • Tenure: 27.8yrs
    • 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: 15yrs
    • 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$3.157b
  • 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 Analysis2019/10/18 12:39
End of Day Share Price2019/10/18 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.