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CK Asset Holdings

SEHK:1113
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1113
SEHK
HK$226B
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

CK Asset Holdings Limited operates as a property developer in Hong Kong, the Mainland, Singapore, the United Kingdom, continental Europe, Australia, Canada, and the United States. The last earnings update was 78 days ago. More info.


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1113 Share Price and Events
7 Day Returns
1.2%
SEHK:1113
3.8%
HK Real Estate
3.9%
HK Market
1 Year Returns
-2.5%
SEHK:1113
-1.5%
HK Real Estate
-8.1%
HK Market
1113 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CK Asset Holdings (1113) 1.2% 5.2% -12.7% -2.5% 28.6% -
HK Real Estate 3.8% 4.2% -3.3% -1.5% 56.2% 53.4%
HK Market 3.9% 3.5% -3.7% -8.1% 24.6% 7.1%
1 Year Return vs Industry and Market
  • 1113 underperformed the Real Estate industry which returned -1.5% over the past year.
  • 1113 outperformed the Market in Hong Kong which returned -8.1% over the past year.
Price Volatility
1113
Industry
5yr Volatility vs Market

1113 Value

 Is CK Asset Holdings 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 CK Asset Holdings 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 CK Asset Holdings.

SEHK:1113 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
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:1113
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.031 (1 + (1- 25%) (30.71%))
1.18
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.18 * 6.65%)
9.85%

Discounted Cash Flow Calculation for SEHK:1113 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CK Asset Holdings 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:1113 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 9.85%)
2019 10,803.00 Analyst x1 9,834.21
2020 11,356.00 Analyst x1 9,410.56
2021 5,662.00 Analyst x1 4,271.25
2022 5,254.73 Est @ -7.19% 3,608.53
2023 5,021.72 Est @ -4.43% 3,139.26
2024 4,896.03 Est @ -2.5% 2,786.21
2025 4,839.66 Est @ -1.15% 2,507.15
2026 4,829.74 Est @ -0.2% 2,277.64
2027 4,851.84 Est @ 0.46% 2,082.87
2028 4,896.53 Est @ 0.92% 1,913.54
Present value of next 10 years cash flows HK$41,831.22
SEHK:1113 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$4,896.53 × (1 + 2%) ÷ (9.85% – 2%)
HK$63,639.74
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$63,639.74 ÷ (1 + 9.85%)10
HK$24,870.16
SEHK:1113 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$41,831.22 + HK$24,870.16
HK$66,701.37
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$66,701.37 / 3,693.40
HK$18.06
SEHK:1113 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$18.06
Current discount Discount to share price of HK$61.30
= -1 x (HK$61.30 - HK$18.06) / HK$18.06
-239.4%

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

  • The current share price of CK Asset Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 CK Asset Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CK Asset Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1113 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$10.85
SEHK:1113 Share Price ** SEHK (2019-06-25) in HKD HK$61.3
Hong Kong Real Estate Industry PE Ratio Median Figure of 188 Publicly-Listed Real Estate Companies 6.36x
Hong Kong Market PE Ratio Median Figure of 1,487 Publicly-Listed Companies 10.8x

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

** Primary Listing of CK Asset Holdings.

SEHK:1113 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1113 Share Price ÷ EPS (both in HKD)

= 61.3 ÷ 10.85

5.65x

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

  • CK Asset Holdings is good value based on earnings compared to the HK Real Estate industry average.
  • CK Asset Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does CK Asset Holdings's expected growth come at a high price?
Raw Data
SEHK:1113 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
-14.6%per year
Hong Kong Real Estate Industry PEG Ratio Median Figure of 60 Publicly-Listed Real Estate Companies 0.28x
Hong Kong Market PEG Ratio Median Figure of 470 Publicly-Listed Companies 0.78x

*Line of best fit is calculated by linear regression .

SEHK:1113 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.65x ÷ -14.6%

-0.39x

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

  • CK Asset Holdings earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CK Asset Holdings's assets?
Raw Data
SEHK:1113 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$90.75
SEHK:1113 Share Price * SEHK (2019-06-25) in HKD HK$61.3
Hong Kong Real Estate Industry PB Ratio Median Figure of 229 Publicly-Listed Real Estate Companies 0.56x
Hong Kong Market PB Ratio Median Figure of 2,172 Publicly-Listed Companies 0.94x
SEHK:1113 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1113 Share Price ÷ Book Value per Share (both in HKD)

= 61.3 ÷ 90.75

0.68x

* Primary Listing of CK Asset Holdings.

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

  • CK Asset Holdings is overvalued based on assets compared to the HK Real Estate industry average.
X
Value checks
We assess CK Asset Holdings'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. CK Asset Holdings has a total score of 2/6, 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.

1113 Future Performance

 How is CK Asset Holdings expected to perform in the next 1 to 3 years based on estimates from 13 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
-14.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CK Asset Holdings expected to grow at an attractive rate?
  • CK Asset Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • CK Asset Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • CK Asset Holdings's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1113 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1113 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts -14.6%
SEHK:1113 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 6.3%
Hong Kong Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 5.6%
Hong Kong Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 16.4%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.1%
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:1113 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1113 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 72,493 26,000 25,605 7
2020-12-31 69,610 23,621 25,622 9
2019-12-31 78,496 29,687 28,223 9
SEHK:1113 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 50,368 13,967 40,117
2018-09-30 47,886 25,837 40,010
2018-06-30 45,403 37,706 39,903
2018-03-31 51,475 43,648 35,014
2017-12-31 57,546 49,590 30,125
2017-09-30 64,263 46,894 27,955
2017-06-30 70,979 44,197 25,784
2017-03-31 70,140 41,583 22,600
2016-12-31 69,300 38,968 19,415
2016-09-30 68,046 37,297 19,122
2016-06-30 66,792 35,626 18,829
2016-03-31 62,036 26,772 17,971

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CK Asset Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • CK Asset Holdings's revenue is expected to grow by 6.3% 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:1113 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 13 Analyst Estimates (S&P Global) See Below

All data from CK Asset Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1113 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 7.00 8.47 5.83 9.00
2020-12-31 7.05 7.83 5.98 12.00
2019-12-31 7.66 9.55 6.56 12.00
SEHK:1113 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 10.85
2018-09-30 10.82
2018-06-30 10.79
2018-03-31 9.43
2017-12-31 8.07
2017-09-30 7.42
2017-06-30 6.78
2017-03-31 5.91
2016-12-31 5.05
2016-09-30 4.96
2016-06-30 4.88
2016-03-31 4.66

*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.
  • CK Asset Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess CK Asset Holdings'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.
CK Asset Holdings has a total score of 0/6, 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.

1113 Past Performance

  How has CK Asset Holdings 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 CK Asset Holdings's growth in the last year to its industry (Real Estate).
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.
  • CK Asset Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • CK Asset Holdings's 1-year earnings growth exceeds its 5-year average (33.2% vs 23.5%)
  • CK Asset Holdings's earnings growth has exceeded the HK Real Estate industry average in the past year (33.2% vs 6.3%).
Earnings and Revenue History
CK Asset Holdings'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 CK Asset Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1113 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 50,368.00 40,117.00 3,873.00
2018-09-30 47,885.50 40,010.00 3,836.00
2018-06-30 45,403.00 39,903.00 3,799.00
2018-03-31 51,474.50 35,014.00 3,803.00
2017-12-31 57,546.00 30,125.00 3,807.00
2017-09-30 64,262.50 27,954.50 3,916.00
2017-06-30 70,979.00 25,784.00 4,025.00
2017-03-31 70,139.50 22,599.50 4,007.50
2016-12-31 69,300.00 19,415.00 3,990.00
2016-09-30 68,046.00 19,122.00 3,956.50
2016-06-30 66,792.00 18,829.00 3,923.00
2016-03-31 62,036.00 17,971.00 3,199.00
2015-12-31 57,280.00 17,113.00 2,475.00
2015-09-30 43,646.00 17,719.50 1,606.00
2015-06-30 30,012.00 18,326.00 737.00
2015-03-31 27,025.00 17,697.00 631.00
2014-12-31 24,038.00 17,068.00 525.00
2013-12-31 17,011.00 14,152.00 556.00
2012-12-31 19,192.00 16,930.00 542.00

*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.
  • CK Asset Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CK Asset Holdings used its assets more efficiently than the HK Real Estate industry average last year based on Return on Assets.
  • CK Asset Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CK Asset Holdings'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 Real Estate 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.
CK Asset Holdings 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.

1113 Health

 How is CK Asset Holdings'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 CK Asset Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CK Asset Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CK Asset Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CK Asset Holdings'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.2x 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 CK Asset Holdings Company Filings, last reported 5 months ago.

SEHK:1113 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 341,028.00 69,537.00 55,417.00
2018-09-30 341,028.00 69,537.00 55,417.00
2018-06-30 329,788.00 61,236.00 54,801.00
2018-03-31 329,788.00 61,236.00 54,801.00
2017-12-31 309,180.00 71,992.00 54,369.00
2017-09-30 309,180.00 71,992.00 54,369.00
2017-06-30 293,364.00 85,167.00 81,642.00
2017-03-31 293,364.00 85,167.00 81,642.00
2016-12-31 276,274.00 70,176.00 61,530.00
2016-09-30 276,274.00 70,176.00 61,530.00
2016-06-30 272,044.00 57,217.00 48,899.00
2016-03-31 272,044.00 57,217.00 48,899.00
2015-12-31 269,687.00 60,989.00 44,540.00
2015-09-30 269,687.00 60,989.00 44,540.00
2015-06-30 268,004.00 74,453.00 47,129.00
2015-03-31 268,004.00 74,453.00 47,129.00
2014-12-31 99,071.00 600.00 10,602.00
2013-12-31 89,154.00 47,413.00 10,375.00
2012-12-31 81,677.00 53,853.00 13,238.00
  • CK Asset Holdings's level of debt (20.4%) 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 (53% vs 20.4% today).
  • Debt is well covered by operating cash flow (20.1%, greater than 20% of total debt).
  • CK Asset Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess CK Asset Holdings'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. CK Asset Holdings 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.

1113 Dividends

 What is CK Asset Holdings'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
3.1%
Current annual income from CK Asset Holdings dividends. Estimated to be 3.68% next year.
If you bought HK$2,000 of CK Asset Holdings shares you are expected to receive HK$62 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?
  • CK Asset Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • CK Asset Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.86%).
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:1113 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 13 Analyst Estimates (S&P Global) See Below
Hong Kong Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 143 Stocks 4%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.6%
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:1113 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.47 10.00
2020-12-31 2.27 14.00
2019-12-31 2.09 14.00
SEHK:1113 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-03-21 1.900 3.017
2018-08-02 1.750 2.985
2018-03-16 1.700 2.619
2017-04-05 1.530 2.379
2017-03-22 1.530 2.877
2016-04-08 2.100 4.047
2016-03-17 2.100 4.280
2015-09-17 0.700 1.437
2015-08-25 0.700 1.271

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

  • CK Asset Holdings 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 CK Asset Holdings only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of CK Asset Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.7x 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 CK Asset Holdings'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 CK Asset Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CK Asset Holdings has a total score of 3/6, see the detailed checks below.


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

1113 Management

 What is the CEO of CK Asset Holdings'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
Victor Li
COMPENSATION HK$94,940,000
AGE 54
TENURE AS CEO 4.3 years
CEO Bio

Mr. Li Tzar Kuoi, also known as Victor, B.Sc, M.Sc, LLD (Hon) had been Deputy Chairman of Cheung Kong Property Holdings Limited from February 2015 to May 10, 2018. Mr. Li has been the Managing Director of Cheung Kong (Holdings) Limited since 1999 and its Deputy Chairman since 1994. He serves as a Member of Management Board at Triluck Assets Limited. He was a Deputy Chairman of CK Hutchison Holdings Limited since January 9, 2015 and has been its Chairman of Board and Group Co-Managing Director since May 10, 2018 and June 3, 2015 respectively. He joined the Cheung Kong Group in 1985 and acted as Deputy Managing Director of Cheung Kong from 1993 to 1998. Mr. Li is the Founder of Trinity Time Investments Ltd. He is a co-owner at LVM Unity Limited. He has been the Chairman of CK Infrastructure Holdings Limited since May 29, 1996 and CK Life Sciences Int'l., (Holdings) Inc., since April 2002. He serves as a Co-Chairman of Husky Energy Inc. He has been Deputy Chairman of HK Electric Investments Limited since November 28, 2014. Mr. Li is also the Managing Director and Chairman of CK Asset Holdings Limited since February 2015 and May 10, 2018 respectively (formerly known as Cheung Kong Property Holdings Limited). Mr. Li serves as the Deputy Chairman and Director of Li Ka Shing Foundation Limited, Li Ka Shing (Overseas) Foundation and Li Ka Shing (Canada) Foundation. He has been a Deputy Chairman and Director of The Hongkong Electric Company Limited since November 28, 2014. He has been Deputy Chairman at Hutchison Whampoa Limited since March 31, 1999 and its Executive Director since 1995. Hei is also a director of certain substantial shareholders of the CK ASSET HOLDINGS LIMITED. He serves as a Director of HSBC. He has been a Non-Executive Director of HK Electric Investments Limited which is the trustee-manager of HK Electric Investments since November 28, 2014. He serves as a Non-Executive Director of The Hongkong and Shanghai Banking Corporation Limited and White Rain Enterprises Limited. He is a Non-executive Director of HK Electric Investments Manager Limited. He has been an Executive Director at CK ASSET HOLDINGS LIMITED since February 26, 2015; Hongkong Electric Holdings Ltd., since 1994. He had been a Director of CK Hutchison Holdings Limited since December 11, 2014 until June 2015 and serves as its Executive Director since June 2015. He has been Director of Cheung Kong (Holdings) Limited since March 16, 1989. He has been a Non-Independent Director at Husky Energy Inc., since August 25, 2000. He has been a Non-Executive Director of Power Assets Holdings Limited since January 29, 2014. He serves as a Director of Trueway International Limited, Tangiers Enterprises Limited, Gold Rainbow Int'l Limited, The Hongkong Electric Company, Limited and Gotak Limited. He served as a Director at CK ASSET HOLDINGS LIMITED since January 5, 2015 to February 26, 2015. He is a director of certain substantial shareholders of CK Infrastructure Holdings Limited within the meaning of Part XV of the Securities and Futures Ordinance (“SFO”). He is a director of certain companies controlled by certain substantial shareholders of CK Infrastructure Holdings Limited. Mr. Li served as an Executive Director of Power Assets Holdings Limited from May 20, 1994 to January 29, 2014. He has served as a Member of the 9th Chinese People's Political Consultative Conference (“CPPCC“). He is also a Member of the Chief Executive’s Council of Advisers on Innovation and Strategic development of the Hong Kong Special Administrative Region. He is also Vice Chairman of the Hong Kong General Chamber of Commerce. He is the Honorary Consul of Barbados in Hong Kong. He previously held directorship in Star River Investment Limited until June 4, 2005. He is also a member of the Commission on Strategic Development and the Business Advisory Group for the Hong Kong SAR. He holds a Bachelor of Science Degree in Civil Engineering and a Master’s of Science degree in Civil Engineering /Structural Engineering, both from the Stanford University in 1987. Mr. Li obtained an honorary Degree, Doctor of Laws, honoris causa (LL.D) from The University of Western Ontario in 2009.

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

Average tenure and age of the CK Asset Holdings management team in years:

4.3
Average Tenure
66.5
Average Age
  • The tenure for the CK Asset Holdings management team is about average.
Management Team

Victor Li

TITLE
Chairman & MD
COMPENSATION
HK$95M
AGE
54
TENURE
4.3 yrs

Ka-shing Li

TITLE
Senior Advisor
AGE
90

Hing Lam Kam

TITLE
Deputy MD & Executive Director
COMPENSATION
HK$28M
AGE
72
TENURE
4.3 yrs

Edmond Ip

TITLE
Deputy MD & Executive Director
COMPENSATION
HK$27M
AGE
66
TENURE
4.3 yrs

Davy Chung

TITLE
Executive Director
COMPENSATION
HK$36M
AGE
67

Justin Chiu

TITLE
Executive Director
COMPENSATION
HK$36M
AGE
67

Raymond Chow

TITLE
Executive Director
COMPENSATION
HK$33M
AGE
70
TENURE
0.1 yrs

Ezra Pau

TITLE
Executive Director
COMPENSATION
HK$33M
AGE
62

Grace Woo

TITLE
Executive Director
COMPENSATION
HK$38M
AGE
61

Simon Man

TITLE
General Manager of Accounts Department
AGE
61
Board of Directors Tenure

Average tenure and age of the CK Asset Holdings board of directors in years:

4.3
Average Tenure
67
Average Age
  • The tenure for the CK Asset Holdings board of directors is about average.
Board of Directors

Victor Li

TITLE
Chairman & MD
COMPENSATION
HK$95M
AGE
54
TENURE
1.1 yrs

Hing Lam Kam

TITLE
Deputy MD & Executive Director
COMPENSATION
HK$28M
AGE
72
TENURE
4.3 yrs

Edmond Ip

TITLE
Deputy MD & Executive Director
COMPENSATION
HK$27M
AGE
66
TENURE
4.4 yrs

Davy Chung

TITLE
Executive Director
COMPENSATION
HK$36M
AGE
67
TENURE
4.3 yrs

Justin Chiu

TITLE
Executive Director
COMPENSATION
HK$36M
AGE
67
TENURE
4.3 yrs

Ezra Pau

TITLE
Executive Director
COMPENSATION
HK$33M
AGE
62
TENURE
4.3 yrs

Grace Woo

TITLE
Executive Director
COMPENSATION
HK$38M
AGE
61
TENURE
4.3 yrs

Henry Cheong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$410K
AGE
71
TENURE
4.3 yrs

Katherine Hung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$410K
AGE
70
TENURE
4.3 yrs

Albert Chow

TITLE
Independent Non-Executive Director
COMPENSATION
HK$350K
AGE
69
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
06. May 19 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 30. Apr 19 30. Apr 19 1,230,000 HK$63.08 HK$77,591,969
07. Jan 19 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 02. Jan 19 02. Jan 19 2,500,000 HK$55.42 HK$138,558,757
07. Jan 19 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 03. Jan 19 03. Jan 19 486,000 HK$55.87 HK$27,153,696
02. Nov 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 31. Oct 18 31. Oct 18 400,000 HK$50.92 HK$20,369,121
02. Nov 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 30. Oct 18 30. Oct 18 920,000 HK$52.21 HK$48,035,964
24. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 24. Oct 18 24. Oct 18 2,761,000 HK$53.95 HK$148,968,092
24. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 23. Oct 18 23. Oct 18 3,871,000 HK$54.41 HK$210,604,069
24. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 19. Oct 18 19. Oct 18 1,680,000 HK$54.64 HK$91,803,099
18. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 12. Oct 18 12. Oct 18 842,500 HK$54.59 HK$45,987,944
18. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 16. Oct 18 16. Oct 18 2,600,000 HK$54.74 HK$142,312,044
18. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 15. Oct 18 15. Oct 18 1,302,500 HK$54.79 HK$71,357,723
18. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 18. Oct 18 18. Oct 18 1,700,000 HK$54.89 HK$93,318,437
10. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 10. Oct 18 10. Oct 18 860,000 HK$56.24 HK$48,368,639
02. Oct 18 Buy LVM Castle Limited Company 02. Oct 18 02. Oct 18 603,500 HK$57.62 HK$34,774,816
02. Oct 18 Buy Li Ka Shing Foundation Ltd, Endowment Arm Company 02. Oct 18 02. Oct 18 2,014,000 HK$57.62 HK$116,050,503
02. Oct 18 Buy LVM Castle Limited Company 27. Sep 18 27. Sep 18 685,000 HK$59.94 HK$41,059,242
02. Oct 18 Buy LVM Castle Limited Company 26. Sep 18 26. Sep 18 2,560,000 HK$59.97 HK$153,524,228
20. Sep 18 Buy LVM Castle Limited Company 18. Sep 18 18. Sep 18 2,508,000 HK$59.82 HK$150,027,799
20. Sep 18 Buy LVM Castle Limited Company 19. Sep 18 19. Sep 18 1,000,000 HK$61.24 HK$61,244,997
19. Sep 18 Buy BlackRock, Inc. Company 14. Sep 18 14. Sep 18 1,074,500 HK$57.99 HK$62,308,534
17. Sep 18 Buy LVM Castle Limited Company 17. Sep 18 17. Sep 18 1,171,500 HK$59.28 HK$69,448,865
17. Sep 18 Buy LVM Castle Limited Company 14. Sep 18 14. Sep 18 1,552,500 HK$58.88 HK$91,411,662
18. Sep 18 Buy LVM Castle Limited Company 13. Sep 18 13. Sep 18 557,500 HK$57.45 HK$32,028,987
17. Sep 18 Buy LVM Castle Limited Company 12. Sep 18 12. Sep 18 3,068,000 HK$55.71 HK$170,914,610
11. Sep 18 Buy LVM Castle Limited Company 11. Sep 18 11. Sep 18 2,891,000 HK$55.64 HK$160,865,647
11. Sep 18 Buy LVM Castle Limited Company 10. Sep 18 10. Sep 18 4,370,000 HK$55.41 HK$242,122,915
11. Sep 18 Buy LVM Castle Limited Company 07. Sep 18 07. Sep 18 2,165,500 HK$56.35 HK$122,024,408
11. Sep 18 Buy LVM Castle Limited Company 06. Sep 18 06. Sep 18 1,417,500 HK$56.18 HK$79,631,178
28. Aug 18 Buy The Li Ka-Shing Unity Discretionary Trust Company 23. Aug 18 23. Aug 18 131,442,456 HK$55.80 HK$7,334,489,415
30. Jul 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 25. Jul 18 25. Jul 18 -1,055,097 HK$60.09 HK$-63,402,886
X
Management checks
We assess CK Asset Holdings'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. CK Asset Holdings 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.

1113 News

Simply Wall St News

If You Had Bought CK Asset Holdings (HKG:1113) Stock Three Years Ago, You Could Pocket A 19% Gain Today

Just take a look at CK Asset Holdings Limited (HKG:1113), which is up 19%, over three years, soundly beating the market return of 16% (not including dividends). … CK Asset Holdings was able to grow its EPS at 35% per year over three years, sending the share price higher. … We note that for CK Asset Holdings the TSR over the last 3 years was 30%, which is better than the share price return mentioned above.

Simply Wall St -

Here's How We Evaluate CK Asset Holdings Limited's (HKG:1113) Dividend

Is CK Asset Holdings Limited (HKG:1113) a good dividend stock? … CK Asset Holdings has been paying a dividend for the past four years. … Conclusion To summarise, shareholders should always check that CK Asset Holdings's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

How Much is CK Asset Holdings Limited's (HKG:1113) CEO Getting Paid?

Our data indicates that CK Asset Holdings Limited is worth HK$229b, and total annual CEO compensation is HK$90m. … When we examined a group of companies with market caps over HK$63b, we found that their median CEO total compensation was HK$3.3m. … Thus we can conclude that Victor Li receives more in total compensation than the median of a group of large companies in the same market as CK Asset Holdings Limited.

Simply Wall St -

At HK$63.80, Is CK Asset Holdings Limited (HKG:1113) Worth Looking At Closely?

received a lot of attention from a substantial price movement on the SEHK over the last few months, increasing to HK$72.2 at one point, and dropping to the lows of HK$62.85. … A question to answer is whether CK Asset Holdings's current trading price of HK$63.8 reflective of the actual value of the? … Let’s take a look at CK Asset Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What Type Of Shareholder Owns CK Asset Holdings Limited's (HKG:1113)?

The big shareholder groups in CK Asset Holdings Limited (HKG:1113) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … CK Asset Holdings is a pretty big company.

Simply Wall St -

Does CK Asset Holdings Limited (HKG:1113) Have A Good P/E Ratio?

To keep it practical, we'll show how CK Asset Holdings Limited's (HKG:1113) P/E ratio could help you assess the value on offer. … How Do I Calculate CK Asset Holdings's Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

If You Had Bought CK Asset Holdings Shares Three Years Ago You'd Have Made 41%

For example, CK Asset Holdings Limited (HKG:1113) shareholders have seen the share price rise 41% over three years, well in excess of the market return (34%, not including dividends). … During three years of share price growth, CK Asset Holdings achieved compound earnings per share growth of 31% per year. … This EPS growth is higher than the 12% average annual increase in the share price.

Simply Wall St -

Should You Buy CK Asset Holdings Limited (HKG:1113) For Its Dividend?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … CK Asset Holdings Limited (HKG:1113) has recently paid dividends to shareholders, and currently yields 2.7%. … Let's take a look at CK Asset Holdings in more detail.

Simply Wall St -

Our Take On CK Asset Holdings Limited's (HKG:1113) CEO Salary

Victor Li became the CEO of CK Asset Holdings Limited (HKG:1113) in 2015. … First, this article will compare CEO compensation with compensation at other large companies. … How Does Victor Li's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is Now An Opportune Moment To Examine CK Asset Holdings Limited (HKG:1113)?

The company's stock. … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock … However, could the stock still be trading at a relatively cheap price?

Simply Wall St -

1113 Company Info

Description

CK Asset Holdings Limited operates as a property developer in Hong Kong, the Mainland, Singapore, the United Kingdom, continental Europe, Australia, Canada, and the United States. The company is involved in the office, industrial, retail, and residential property investment, development, and leasing activities; and hotel and serviced suite operation. It also provides property and project management, aircraft leasing, finance, and property agency services. The company was formerly known as Cheung Kong Property Holdings Limited and changed its name to CK Asset Holdings Limited in September 2017. CK Asset Holdings Limited was incorporated in 2015 and is headquartered in Central, Hong Kong.

Details
Name: CK Asset Holdings Limited
1113
Exchange: SEHK
Founded: 2015
HK$226,405,450,650
3,693,400,500
Website: http://www.ckah.com
Address: CK Asset Holdings Limited
Cheung Kong Center,
7th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1113 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 03. Jun 2015
OTCPK CHKG.F Ordinary Shares Pink Sheets LLC US USD 03. Jun 2015
DB 1CK Ordinary Shares Deutsche Boerse AG DE EUR 03. Jun 2015
SHSC 1113 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 03. Jun 2015
SZSC 1113 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 03. Jun 2015
Number of employees
Current staff
Staff numbers
18,900
CK Asset Holdings employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 02:00
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/06/20
Last earnings filing: 2019/04/09
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.