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101

Hang Lung Properties SEHK:101 Stock Report

Last Price

HK$15.10

Market Cap

HK$64.8b

7D

3.1%

1Y

-21.7%

Updated

27 Jun, 2022

Data

Company Financials +
101 fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance2/6
Financial Health3/6
Dividends2/6

101 Stock Overview

Hang Lung Properties Limited, an investment holding company, engages in the property investment, development, and management activities in Hong Kong and Mainland China.

Hang Lung Properties Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Hang Lung Properties
Historical stock prices
Current Share PriceHK$15.10
52 Week HighHK$22.00
52 Week LowHK$13.32
Beta0.79
1 Month Change2.86%
3 Month Change-4.31%
1 Year Change-21.68%
3 Year Change-18.73%
5 Year Change-22.80%
Change since IPO183.17%

Recent News & Updates

May 09
Are Hang Lung Properties Limited (HKG:101) Investors Paying Above The Intrinsic Value?

Are Hang Lung Properties Limited (HKG:101) Investors Paying Above The Intrinsic Value?

How far off is Hang Lung Properties Limited ( HKG:101 ) from its intrinsic value? Using the most recent financial data...

Apr 12
These 4 Measures Indicate That Hang Lung Properties (HKG:101) Is Using Debt Reasonably Well

These 4 Measures Indicate That Hang Lung Properties (HKG:101) Is Using Debt Reasonably Well

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Jan 30
What Is Hang Lung Properties Limited's (HKG:101) Share Price Doing?

What Is Hang Lung Properties Limited's (HKG:101) Share Price Doing?

Hang Lung Properties Limited ( HKG:101 ), is not the largest company out there, but it received a lot of attention from...

Shareholder Returns

101HK Real EstateHK Market
7D3.1%4.3%2.1%
1Y-21.7%-34.5%-23.3%

Return vs Industry: 101 exceeded the Hong Kong Real Estate industry which returned -34.5% over the past year.

Return vs Market: 101 exceeded the Hong Kong Market which returned -23.3% over the past year.

Price Volatility

Is 101's price volatile compared to industry and market?
101 volatility
101 Average Weekly Movement4.6%
Real Estate Industry Average Movement6.3%
Market Average Movement7.0%
10% most volatile stocks in HK Market13.8%
10% least volatile stocks in HK Market3.3%

Stable Share Price: 101 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 101's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19494,219Weber Lohttps://www.hanglung.com

Hang Lung Properties Limited, an investment holding company, engages in the property investment, development, and management activities in Hong Kong and Mainland China. The company operates through Property Leasing and Property Sales segments. The company is involved in the development, sale, and leasing of properties.

Hang Lung Properties Fundamentals Summary

How do Hang Lung Properties's earnings and revenue compare to its market cap?
101 fundamental statistics
Market CapHK$64.79b
Earnings (TTM)HK$3.87b
Revenue (TTM)HK$10.33b

17.6x

P/E Ratio

6.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
101 income statement (TTM)
RevenueHK$10.33b
Cost of RevenueHK$2.95b
Gross ProfitHK$7.38b
Other ExpensesHK$3.51b
EarningsHK$3.87b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.86
Gross Margin71.44%
Net Profit Margin37.45%
Debt/Equity Ratio30.4%

How did 101 perform over the long term?

See historical performance and comparison

Dividends

5.2%

Current Dividend Yield

91%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 101 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 101?

Other financial metrics that can be useful for relative valuation.

101 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue11x
Enterprise Value/EBITDA16.5x
PEG Ratio1.2x

Price to Earnings Ratio vs Peers

How does 101's PE Ratio compare to its peers?

101 PE Ratio vs Peers
The above table shows the PE ratio for 101 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average22.1x
1972 Swire Properties
15.7x9.7%HK$111.2b
1997 Wharf Real Estate Investment
25.1x14.9%HK$107.3b
1209 China Resources Mixc Lifestyle Services
44x27.7%HK$86.3b
1528 Red Star Macalline Group
5.3x20.5%HK$25.4b
101 Hang Lung Properties
17.6x14.3%HK$64.8b

Price-To-Earnings vs Peers: 101 is good value based on its Price-To-Earnings Ratio (17.6x) compared to the peer average (22.1x).


Price to Earnings Ratio vs Industry

How does 101's PE Ratio compare vs other companies in the HK Real Estate Industry?

Price-To-Earnings vs Industry: 101 is expensive based on its Price-To-Earnings Ratio (17.6x) compared to the Hong Kong Real Estate industry average (6.5x)


Price to Earnings Ratio vs Fair Ratio

What is 101's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

101 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.6x
Fair PE Ratio8x

Price-To-Earnings vs Fair Ratio: 101 is expensive based on its Price-To-Earnings Ratio (17.6x) compared to the estimated Fair Price-To-Earnings Ratio (8x).


Share Price vs Fair Value

What is the Fair Price of 101 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 101 (HK$15.1) is trading above our estimate of fair value (HK$12.11)

Significantly Below Fair Value: 101 is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: 101 is poor value based on its PEG Ratio (1.2x)


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Future Growth

How is Hang Lung Properties forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


14.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 101's forecast earnings growth (14.3% per year) is above the savings rate (1.5%).

Earnings vs Market: 101's earnings (14.3% per year) are forecast to grow slower than the Hong Kong market (16.9% per year).

High Growth Earnings: 101's earnings are forecast to grow, but not significantly.

Revenue vs Market: 101's revenue (14.1% per year) is forecast to grow faster than the Hong Kong market (10.3% per year).

High Growth Revenue: 101's revenue (14.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 101's Return on Equity is forecast to be low in 3 years time (4.7%).


Discover growth companies

Past Performance

How has Hang Lung Properties performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-30.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 101 has high quality earnings.

Growing Profit Margin: 101 became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: 101's earnings have declined by 30.7% per year over the past 5 years.

Accelerating Growth: 101 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 101 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (13.4%).


Return on Equity

High ROE: 101's Return on Equity (3.2%) is considered low.


Discover strong past performing companies

Financial Health

How is Hang Lung Properties's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 101's short term assets (HK$22.8B) exceed its short term liabilities (HK$19.5B).

Long Term Liabilities: 101's short term assets (HK$22.8B) do not cover its long term liabilities (HK$52.3B).


Debt to Equity History and Analysis

Debt Level: 101's net debt to equity ratio (24.9%) is considered satisfactory.

Reducing Debt: 101's debt to equity ratio has increased from 20.5% to 30.4% over the past 5 years.

Debt Coverage: 101's debt is not well covered by operating cash flow (5.9%).

Interest Coverage: 101's interest payments on its debt are well covered by EBIT (19.4x coverage).


Balance Sheet


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Dividend

What is Hang Lung Properties's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


5.17%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 101's dividend (5.17%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.75%).

High Dividend: 101's dividend (5.17%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.9%).


Stability and Growth of Payments

Stable Dividend: 101's dividend payments have been volatile in the past 10 years.

Growing Dividend: 101's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (90.7%), 101's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (128.5%), 101's dividend payments are not well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Weber Lo (50 yo)

3.92yrs

Tenure

HK$35,200,000

Compensation

Mr. Wai Pak Lo, also known as Weber, has been an Executive Director of Hang Lung Group Limited and Hang Lung Properties Limited since May 16, 2018. Mr. Lo served as Chairman of Citibank (China) Co., Ltd. H...


CEO Compensation Analysis

Compensation vs Market: Weber's total compensation ($USD4.48M) is above average for companies of similar size in the Hong Kong market ($USD626.60K).

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


Leadership Team

Experienced Management: 101's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: 101's board of directors are considered experienced (7.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Hang Lung Properties Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Hang Lung Properties Limited
  • Ticker: 101
  • Exchange: SEHK
  • Founded: 1949
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Implied Market Cap: HK$64.789b
  • Shares outstanding: 4.50b
  • Website: https://www.hanglung.com

Number of Employees


Location

  • Hang Lung Properties Limited
  • Standard Chartered Bank Building
  • 28th Floor
  • Central
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.