Loading...

Beijing Tong Ren Tang Chinese Medicine

SEHK:3613
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3613
SEHK
HK$12B
Market Cap
  1. Home
  2. HK
  3. Pharmaceuticals & Biotech
Company description

Beijing Tong Ren Tang Chinese Medicine Company Limited, together with its subsidiaries, engages in the manufacture, retail, and wholesale of Chinese medicine and healthcare products to wholesalers and individuals. The last earnings update was 80 days ago. More info.


Add to Portfolio Compare Print
3613 Share Price and Events
7 Day Returns
4.4%
SEHK:3613
0.3%
HK Pharmaceuticals
-0%
HK Market
1 Year Returns
-9%
SEHK:3613
-35.5%
HK Pharmaceuticals
-13%
HK Market
3613 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Beijing Tong Ren Tang Chinese Medicine (3613) 4.4% 1.8% 0% -9% 58.3% 47.7%
HK Pharmaceuticals 0.3% -5.8% -11.2% -35.5% 45.5% 27%
HK Market -0% -1.1% -8.6% -13% 18.1% 5.4%
1 Year Return vs Industry and Market
  • 3613 outperformed the Pharmaceuticals industry which returned -35.5% over the past year.
  • 3613 outperformed the Market in Hong Kong which returned -13% over the past year.
Price Volatility
3613
Industry
5yr Volatility vs Market

3613 Value

 Is Beijing Tong Ren Tang Chinese Medicine undervalued based on future cash flows and its price relative to the stock market?

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 Beijing Tong Ren Tang Chinese Medicine 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Beijing Tong Ren Tang Chinese Medicine.

SEHK:3613 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
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.

Calculation of Discount Rate/ Cost of Equity for SEHK:3613
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.642 (1 + (1- 25%) (0.01%))
0.76
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.8 * 6.65%)
7.32%

Discounted Cash Flow Calculation for SEHK:3613 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Beijing Tong Ren Tang Chinese Medicine 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.

SEHK:3613 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 7.32%)
2019 532.00 Analyst x1 495.70
2020 694.10 Analyst x1 602.61
2021 766.53 Est @ 10.44% 620.08
2022 827.13 Est @ 7.91% 623.45
2023 877.87 Est @ 6.13% 616.55
2024 920.85 Est @ 4.9% 602.60
2025 957.93 Est @ 4.03% 584.10
2026 990.70 Est @ 3.42% 562.86
2027 1,020.37 Est @ 3% 540.16
2028 1,047.89 Est @ 2.7% 516.88
Present value of next 10 years cash flows HK$5,764.99
SEHK:3613 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$1,047.89 × (1 + 2%) ÷ (7.32% – 2%)
HK$20,091.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$20,091.75 ÷ (1 + 7.32%)10
HK$9,910.37
SEHK:3613 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$5,764.99 + HK$9,910.37
HK$15,675.36
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$15,675.36 / 837.10
HK$18.73
SEHK:3613 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$18.73
Current discount Discount to share price of HK$14.56
= -1 x (HK$14.56 - HK$18.73) / HK$18.73
22.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Beijing Tong Ren Tang Chinese Medicine is available for.
Intrinsic value
22%
Share price is HK$14.56 vs Future cash flow value of HK$18.73
Current Discount Checks
For Beijing Tong Ren Tang Chinese Medicine to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Beijing Tong Ren Tang Chinese Medicine's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Beijing Tong Ren Tang Chinese Medicine's share price is below the future cash flow value, but not 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 Beijing Tong Ren Tang Chinese Medicine's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Beijing Tong Ren Tang Chinese Medicine's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:3613 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.69
SEHK:3613 Share Price ** SEHK (2019-06-20) in HKD HK$14.56
Hong Kong Pharmaceuticals Industry PE Ratio Median Figure of 30 Publicly-Listed Pharmaceuticals Companies 12.51x
Hong Kong Market PE Ratio Median Figure of 1,489 Publicly-Listed Companies 10.66x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Beijing Tong Ren Tang Chinese Medicine.

SEHK:3613 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3613 Share Price ÷ EPS (both in HKD)

= 14.56 ÷ 0.69

20.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Beijing Tong Ren Tang Chinese Medicine is overvalued based on earnings compared to the HK Pharmaceuticals industry average.
  • Beijing Tong Ren Tang Chinese Medicine is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Beijing Tong Ren Tang Chinese Medicine's expected growth come at a high price?
Raw Data
SEHK:3613 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
13.6%per year
Hong Kong Pharmaceuticals Industry PEG Ratio Median Figure of 17 Publicly-Listed Pharmaceuticals Companies 0.97x
Hong Kong Market PEG Ratio Median Figure of 467 Publicly-Listed Companies 0.75x

*Line of best fit is calculated by linear regression .

SEHK:3613 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.99x ÷ 13.6%

1.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Beijing Tong Ren Tang Chinese Medicine is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Beijing Tong Ren Tang Chinese Medicine's assets?
Raw Data
SEHK:3613 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$3.47
SEHK:3613 Share Price * SEHK (2019-06-20) in HKD HK$14.56
Hong Kong Pharmaceuticals Industry PB Ratio Median Figure of 37 Publicly-Listed Pharmaceuticals Companies 1.47x
Hong Kong Market PB Ratio Median Figure of 2,171 Publicly-Listed Companies 0.93x
SEHK:3613 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3613 Share Price ÷ Book Value per Share (both in HKD)

= 14.56 ÷ 3.47

4.19x

* Primary Listing of Beijing Tong Ren Tang Chinese Medicine.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Beijing Tong Ren Tang Chinese Medicine is overvalued based on assets compared to the HK Pharmaceuticals industry average.
X
Value checks
We assess Beijing Tong Ren Tang Chinese Medicine's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Pharmaceuticals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Beijing Tong Ren Tang Chinese Medicine has a total score of 1/6, 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.

3613 Future Performance

 How is Beijing Tong Ren Tang Chinese Medicine expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

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!
Annual Growth Rate
13.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Beijing Tong Ren Tang Chinese Medicine expected to grow at an attractive rate?
  • Beijing Tong Ren Tang Chinese Medicine's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Beijing Tong Ren Tang Chinese Medicine's earnings growth is expected to exceed the Hong Kong market average.
  • Beijing Tong Ren Tang Chinese Medicine's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:3613 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:3613 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 13.6%
SEHK:3613 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 13.7%
Hong Kong Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 8.7%
Hong Kong Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 12.9%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.2%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*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
Raw Data
SEHK:3613 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:3613 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,319 879 1
2020-12-31 2,016 797 775 4
2019-12-31 1,754 626 670 3
SEHK:3613 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,514 578 581
2018-09-30 1,466 552
2018-06-30 1,402 507 540
2018-03-31 1,330 516
2017-12-31 1,266 469 490
2017-09-30 1,212 469
2017-06-30 1,166 465 449
2017-03-31 1,134 444
2016-12-31 1,084 468 420
2016-09-30 1,063 431
2016-06-30 1,028 415 410
2016-03-31 1,002 380

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Beijing Tong Ren Tang Chinese Medicine's earnings are expected to grow by 13.6% yearly, however this is not considered high growth (20% yearly).
  • Beijing Tong Ren Tang Chinese Medicine's revenue is expected to grow by 13.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:3613 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Beijing Tong Ren Tang Chinese Medicine Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3613 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.05 1.05 1.05 1.00
2020-12-31 0.93 0.93 0.92 3.00
2019-12-31 0.80 0.80 0.80 3.00
SEHK:3613 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.69
2018-09-30 0.66
2018-06-30 0.65
2018-03-31 0.62
2017-12-31 0.59
2017-09-30 0.56
2017-06-30 0.54
2017-03-31 0.53
2016-12-31 0.50
2016-09-30 0.51
2016-06-30 0.49
2016-03-31 0.45

*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.
  • Beijing Tong Ren Tang Chinese Medicine is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Beijing Tong Ren Tang Chinese Medicine's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Beijing Tong Ren Tang Chinese Medicine has a total score of 4/6, 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.

3613 Past Performance

  How has Beijing Tong Ren Tang Chinese Medicine 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
Below we compare Beijing Tong Ren Tang Chinese Medicine's growth in the last year to its industry (Pharmaceuticals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Beijing Tong Ren Tang Chinese Medicine's year on year earnings growth rate has been positive over the past 5 years.
  • Beijing Tong Ren Tang Chinese Medicine's 1-year earnings growth exceeds its 5-year average (18.5% vs 17.3%)
  • Beijing Tong Ren Tang Chinese Medicine's earnings growth has exceeded the HK Pharmaceuticals industry average in the past year (18.5% vs 18%).
Earnings and Revenue History
Beijing Tong Ren Tang Chinese Medicine's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Beijing Tong Ren Tang Chinese Medicine Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3613 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,513.87 580.72 381.48
2018-09-30 1,466.46 551.97 372.80
2018-06-30 1,401.75 540.12 340.10
2018-03-31 1,330.33 516.20 335.14
2017-12-31 1,265.99 489.97 314.12
2017-09-30 1,212.27 468.59 309.29
2017-06-30 1,166.11 449.11 300.76
2017-03-31 1,133.99 444.45 283.71
2016-12-31 1,084.28 420.32 271.51
2016-09-30 1,063.35 430.86 246.54
2016-06-30 1,028.31 409.68 237.48
2016-03-31 1,001.80 379.66 239.26
2015-12-31 970.48 354.25 232.01
2015-09-30 939.16 337.02 235.79
2015-06-30 881.12 319.92 225.72
2015-03-31 834.23 303.72 215.88
2014-12-31 761.05 287.12 201.01
2014-09-30 733.00 286.26 172.91
2014-06-30 698.74 266.88 167.38
2014-03-31 651.85 249.33 155.85
2013-12-31 613.96 220.00 156.95
2013-09-30 530.13 175.64 150.94
2013-06-30 474.31 154.41 138.21
2013-03-31 390.97 117.03 126.05
2012-12-31 333.04 88.98 112.66

*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.
  • Beijing Tong Ren Tang Chinese Medicine has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Beijing Tong Ren Tang Chinese Medicine used its assets more efficiently than the HK Pharmaceuticals industry average last year based on Return on Assets.
  • Beijing Tong Ren Tang Chinese Medicine's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Beijing Tong Ren Tang Chinese Medicine's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Pharmaceuticals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Beijing Tong Ren Tang Chinese Medicine has a total score of 4/6, 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.

3613 Health

 How is Beijing Tong Ren Tang Chinese Medicine'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 Beijing Tong Ren Tang Chinese Medicine's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Beijing Tong Ren Tang Chinese Medicine is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Beijing Tong Ren Tang Chinese Medicine's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Beijing Tong Ren Tang Chinese Medicine's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2253x 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.
Raw Data

All data from Beijing Tong Ren Tang Chinese Medicine Company Filings, last reported 5 months ago.

SEHK:3613 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,024.23 1.22 2,287.66
2018-09-30 3,024.23 1.22 2,287.66
2018-06-30 2,747.83 1.14 1,990.97
2018-03-31 2,608.18 0.61 1,921.39
2017-12-31 2,608.18 0.61 1,921.39
2017-09-30 2,368.24 0.60 1,708.13
2017-06-30 2,368.24 0.60 1,708.13
2017-03-31 2,227.24 0.56 1,602.55
2016-12-31 2,227.24 0.56 1,602.55
2016-09-30
2016-06-30 2,037.52 0.58 1,430.62
2016-03-31 1,908.92 0.56 1,296.53
2015-12-31 1,908.92 0.56 1,296.53
2015-09-30
2015-06-30 1,722.29 4.32 1,149.04
2015-03-31 1,536.86 0.00 1,048.80
2014-12-31 1,536.86 0.00 1,048.80
2014-09-30
2014-06-30 1,401.43 0.00 989.11
2014-03-31 1,309.72 0.00 932.06
2013-12-31 1,309.72 0.00 932.06
2013-09-30
2013-06-30 1,191.94 0.00 861.39
2013-03-31 567.69 0.00 241.88
2012-12-31 567.69 0.00 241.88
  • Beijing Tong Ren Tang Chinese Medicine's level of debt (0%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (0% vs 0% today).
  • Debt is well covered by operating cash flow (47390%, greater than 20% of total debt).
  • Beijing Tong Ren Tang Chinese Medicine earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Beijing Tong Ren Tang Chinese Medicine's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Beijing Tong Ren Tang Chinese Medicine has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

3613 Dividends

 What is Beijing Tong Ren Tang Chinese Medicine'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
Dividend payments
1.58%
Current annual income from Beijing Tong Ren Tang Chinese Medicine dividends. Estimated to be 2.04% next year.
If you bought HK$2,000 of Beijing Tong Ren Tang Chinese Medicine shares you are expected to receive HK$32 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Beijing Tong Ren Tang Chinese Medicine's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • Beijing Tong Ren Tang Chinese Medicine's dividend is below the markets top 25% of dividend payers in Hong Kong (5.95%).
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.
Raw Data
SEHK:3613 Annualized Past and Future Dividends
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 4 Analyst Estimates (S&P Global) See Below
Hong Kong Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 26 Stocks 1.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.7%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:3613 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.35 1.00
2020-12-31 0.31 3.00
2019-12-31 0.27 3.00
SEHK:3613 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-01 0.230 1.566
2019-03-11 0.230 1.550
2018-03-28 0.190 1.306
2017-05-08 0.160 1.420
2016-05-09 0.130 1.266
2015-05-07 0.100 1.063
2014-03-28 0.080 0.764
2014-03-14 0.080 0.753
2013-08-13 0.168 1.440

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Beijing Tong Ren Tang Chinese Medicine has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Beijing Tong Ren Tang Chinese Medicine only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Beijing Tong Ren Tang Chinese Medicine's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Beijing Tong Ren Tang Chinese Medicine's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Beijing Tong Ren Tang Chinese Medicine afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Beijing Tong Ren Tang Chinese Medicine has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

3613 Management

 What is the CEO of Beijing Tong Ren Tang Chinese Medicine's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Huan Ping Zhang
COMPENSATION HK$1,725,000
AGE 58
TENURE AS CEO 0.2 years
CEO Bio

Mr. Zhang Huan Ping has been the Chief Executive Officer of Beijing Tong Ren Tang Chinese Medicine Company Limited since April 18, 2019. Mr. Ping served as the Deputy General Manager of Beijing Tong Ren Tang Chinese Medicine Company Limited since May 2008 until April 18, 2019. Mr. Ping served as the cadre of human resources department of Tongrentang Holdings, deputy secretary to the Party Committee and the Union President of Tongrentang Holdings' Supplier Station. He joined the TRT Group in 1979 and served as the deputy manager of Beijing Tong Ren Tang Chinese Medicine Factory from 1999 to 2002 and the Deputy Manager of Beijing Tong Ren Tang Medicine Wine Factory from 2002 to 2008. Mr. Ping served as a Deputy Factory Manager of Tongrentang Holdings's Pieces Factory and Beijing Chinese Pharmaceuticals Factory 2 and the deputy factory manager of Tongrentang Ltd's Medicinal Liquor Factory. Mr. Ping has been an Executive Director at Beijing Tong Ren Tang Chinese Medicine Company Limited since February 1, 2011. He served as Executive Director of Tong Ren Tang Technologies Co. Ltd. from May 2009 to April 26, 2010. He is a pharmacist confered by Beijing Intermediate Professional Technical Titles Evaluation Committee in November 2002. Mr. Zhang is a graduate in economic management from the Correspondence Institute of Party School of the Central Committee of the CPC in December 2000.

CEO Compensation
  • Huan Ping's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Huan Ping's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Beijing Tong Ren Tang Chinese Medicine management team in years:

0.2
Average Tenure
53
Average Age
  • The average tenure for the Beijing Tong Ren Tang Chinese Medicine management team is less than 2 years, this suggests a new team.
Management Team

Yong Ding

TITLE
Chairman
AGE
55
TENURE
0.2 yrs

Huan Ping Zhang

TITLE
CEO & Executive Director
COMPENSATION
HK$2M
AGE
58
TENURE
0.2 yrs

Man Lin

TITLE
CFO, Company Secretary & Executive Director
COMPENSATION
HK$2M
AGE
42
TENURE
11.4 yrs

Xia Li

TITLE
Chief Engineer
AGE
51
Board of Directors Tenure

Average tenure and age of the Beijing Tong Ren Tang Chinese Medicine board of directors in years:

6.2
Average Tenure
56.5
Average Age
  • The tenure for the Beijing Tong Ren Tang Chinese Medicine board of directors is about average.
Board of Directors

Yong Ding

TITLE
Chairman
AGE
55
TENURE
0.3 yrs

Huan Ping Zhang

TITLE
CEO & Executive Director
COMPENSATION
HK$2M
AGE
58
TENURE
8.3 yrs

Man Lin

TITLE
CFO, Company Secretary & Executive Director
COMPENSATION
HK$2M
AGE
42
TENURE
8.3 yrs

Frank Chan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
46
TENURE
6.2 yrs

Zhong Zhao

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
60
TENURE
6.2 yrs

Jasper Tsang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
71
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
18. Dec 18 Buy Yong Ding Individual 18. Dec 18 18. Dec 18 30,000 HK$12.44 HK$373,140
04. Jul 18 Buy Man Lin Individual 04. Jul 18 04. Jul 18 30,000 HK$15.32 HK$459,600
X
Management checks
We assess Beijing Tong Ren Tang Chinese Medicine's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Beijing Tong Ren Tang Chinese Medicine 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.

3613 News

Simply Wall St News

A Closer Look At Beijing Tong Ren Tang Chinese Medicine Company Limited's (HKG:3613) Impressive ROE

Our data shows Beijing Tong Ren Tang Chinese Medicine has a return on equity of 20% for the last year. … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Beijing Tong Ren Tang Chinese Medicine: 20% = HK$581m ÷ HK$3.0b (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Beijing Tong Ren Tang Chinese Medicine's Debt And Its 20% ROE While Beijing Tong Ren Tang Chinese Medicine does have a tiny amount of debt, with debt to equity of just 0.00041, we think the use of debt is very modest.

Simply Wall St -

Should We Worry About Beijing Tong Ren Tang Chinese Medicine Company Limited's (HKG:3613) P/E Ratio?

See our latest analysis for Beijing Tong Ren Tang Chinese Medicine How Do I Calculate Beijing Tong Ren Tang Chinese Medicine's Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Beijing Tong Ren Tang Chinese Medicine: P/E of 21.07 = HK$14.62 ÷ HK$0.69 (Based on the year to December 2018.) Is A High P/E Ratio Good? … The Bottom Line On Beijing Tong Ren Tang Chinese Medicine's P/E Ratio Beijing Tong Ren Tang Chinese Medicine has a P/E of 21.1.

Simply Wall St -

Is Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613) Trading At A 22% Discount?

We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (HK$, Millions) HK$532.00 HK$694.10 HK$766.53 HK$827.13 HK$877.87 HK$920.85 HK$957.93 HK$990.70 HK$1.02k HK$1.05k Growth Rate Estimate Source Analyst x1 Analyst x1 Est @ 10.44% Est @ 7.91% Est @ 6.13% Est @ 4.9% Est @ 4.03% Est @ 3.42% Est @ 3% Est @ 2.7% Present Value (HK$, Millions) Discounted @ 7.32% HK$495.70 HK$602.61 HK$620.08 HK$623.45 HK$616.55 HK$602.60 HK$584.10 HK$562.86 HK$540.16 HK$516.88 Present Value of 10-year Cash Flow (PVCF)= HK$5.76b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … SEHK:3613 Intrinsic value, May 28th 2019 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

What Makes Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613) A Great Dividend Stock?

Looking at the data, we can see that Beijing Tong Ren Tang Chinese Medicine has been paying a dividend for the past six years. … It's good to see that Beijing Tong Ren Tang Chinese Medicine has been paying a dividend for a number of years. … It's good to see Beijing Tong Ren Tang Chinese Medicine has been growing its earnings per share at 19% a year over the past 5 years.

Simply Wall St -

Why Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613) Could Have A Place In Your Portfolio

Help shape the future of investing tools and you could win a $250 gift card! … In the case of Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613), there's … company with

Simply Wall St -

Should You Be Adding Beijing Tong Ren Tang Chinese Medicine (HKG:3613) To Your Watchlist Today?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Beijing Tong Ren Tang Chinese Medicine (HKG:3613). … Beijing Tong Ren Tang Chinese Medicine's Earnings Per Share Are Growing. … While we note Beijing Tong Ren Tang Chinese Medicine's EBIT margins were flat over the last year, revenue grew by a solid 20% to HK$1.5b.

Simply Wall St -

How Do Analysts See Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613) Performing In The Next Couple Of Years?

In December 2018, Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613) announced its latest earnings update, whicha

Simply Wall St -

Does Beijing Tong Ren Tang Chinese Medicine Company Limited's (HKG:3613) April Stock Price Reflect Its Future Growth?

Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of HK$15.06 is based on unrealistic expectations. … See our latest analysis for Beijing Tong Ren Tang Chinese Medicine? … Analysts are predicting good growth prospects for Beijing Tong Ren Tang Chinese Medicine over the next couple of years

Simply Wall St -

Did Beijing Tong Ren Tang Chinese Medicine's (HKG:3613) Share Price Deserve to Gain 80%?

Just take a look at Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613), which is up 80%, over three years, soundly beating the market return of 31% (not including dividends). … See our latest analysis for Beijing Tong Ren Tang Chinese Medicine. … During three years of share price growth, Beijing Tong Ren Tang Chinese Medicine achieved compound earnings per share growth of 18% per year.

Simply Wall St -

How Much Are Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613) Insiders Spending On Buying Shares?

So before you buy or sell Beijing Tong Ren Tang Chinese Medicine Company Limited (HKG:3613), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At Beijing Tong Ren Tang Chinese Medicine. … In the last twelve months there was more buying than selling by Beijing Tong Ren Tang Chinese Medicine insiders

Simply Wall St -

3613 Company Info

Description

Beijing Tong Ren Tang Chinese Medicine Company Limited, together with its subsidiaries, engages in the manufacture, retail, and wholesale of Chinese medicine and healthcare products to wholesalers and individuals. The company operates in three segments: Hong Kong, PRC, and Overseas. It also offers Chinese medical consultation and treatment services. The company operates 81 retail outlets in 21 countries and regions. It markets its products under the Tong Ren Tang brand. The company was incorporated in 2004 and is based in Wanchai, Hong Kong. Beijing Tong Ren Tang Chinese Medicine Company Limited is a subsidiary of Tong Ren Tang Technologies Co., Ltd.

Details
Name: Beijing Tong Ren Tang Chinese Medicine Company Limited
3613
Exchange: SEHK
Founded: 2004
HK$11,752,884,000
837,100,000
Website: http://www.tongrentangcm.com
Address: Beijing Tong Ren Tang Chinese Medicine Company Limited
Office Tower,
Room 1405-1409,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3613 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 07. May 2013
DB TQR Ordinary Shares Deutsche Boerse AG DE EUR 07. May 2013
SHSC 3613 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 07. May 2013
SZSC 3613 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 07. May 2013
Number of employees
Current staff
Staff numbers
817
Beijing Tong Ren Tang Chinese Medicine employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/20 12:53
End of day share price update: 2019/06/20 00:00
Last estimates confirmation: 2019/06/19
Last earnings filing: 2019/04/01
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.