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Melbourne Enterprises

SEHK:158
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
158
SEHK
HK$5B
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

Melbourne Enterprises Limited, an investment holding company, engages in property investment activities in Hong Kong. The last earnings update was 74 days ago. More info.


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158 Share Price and Events
7 Day Returns
-3.3%
SEHK:158
0.1%
HK Real Estate
-0.6%
HK Market
1 Year Returns
3%
SEHK:158
-7.1%
HK Real Estate
-9.8%
HK Market
158 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Melbourne Enterprises (158) -3.3% -7.1% -9.6% 3% 49.7% 51.5%
HK Real Estate 0.1% -13.1% -10.3% -7.1% 18.7% 19.3%
HK Market -0.6% -9.6% -7.5% -9.8% 1.6% -10.6%
1 Year Return vs Industry and Market
  • 158 outperformed the Real Estate industry which returned -7.1% over the past year.
  • 158 outperformed the Market in Hong Kong which returned -9.8% over the past year.
Price Volatility
158
Industry
5yr Volatility vs Market

158 Value

 Is Melbourne Enterprises 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 Melbourne Enterprises 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 Melbourne Enterprises.

SEHK:158 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.8%
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:158
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))
= 1.035 (1 + (1- 25%) (0%))
1.023
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.023 * 6.65%)
8.81%

Discounted Cash Flow Calculation for SEHK:158 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Melbourne Enterprises 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SEHK:158 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 8.81%)
2020 148.84 Est @ -0.78% 136.79
2021 148.92 Est @ 0.05% 125.78
2022 149.87 Est @ 0.64% 116.34
2023 151.44 Est @ 1.05% 108.04
2024 153.46 Est @ 1.33% 100.62
2025 155.81 Est @ 1.53% 93.89
2026 158.42 Est @ 1.68% 87.74
2027 161.23 Est @ 1.77% 82.07
2028 164.20 Est @ 1.84% 76.81
2029 167.31 Est @ 1.89% 71.93
Present value of next 10 years cash flows HK$1,000.01
SEHK:158 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$167.31 × (1 + 2%) ÷ (8.81% – 2%)
HK$2,507.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$2,507.83 ÷ (1 + 8.81%)10
HK$1,078.17
SEHK:158 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,000.01 + HK$1,078.17
HK$2,078.18
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$2,078.18 / 25.00
HK$83.13
SEHK:158 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$83.13
Current discount Discount to share price of HK$208.00
= -1 x (HK$208.00 - HK$83.13) / HK$83.13
-150.2%

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

  • The current share price of Melbourne Enterprises 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 Melbourne Enterprises's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Melbourne Enterprises's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:158 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in HKD HK$55.74
SEHK:158 Share Price ** SEHK (2019-08-19) in HKD HK$208
Hong Kong Real Estate Industry PE Ratio Median Figure of 189 Publicly-Listed Real Estate Companies 5.9x
Hong Kong Market PE Ratio Median Figure of 1,498 Publicly-Listed Companies 9.83x

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

** Primary Listing of Melbourne Enterprises.

SEHK:158 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:158 Share Price ÷ EPS (both in HKD)

= 208 ÷ 55.74

3.73x

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

  • Melbourne Enterprises is good value based on earnings compared to the HK Real Estate industry average.
  • Melbourne Enterprises is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Melbourne Enterprises's expected growth come at a high price?
Raw Data
SEHK:158 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-0.5%per year
Hong Kong Real Estate Industry PEG Ratio Median Figure of 63 Publicly-Listed Real Estate Companies 0.28x
Hong Kong Market PEG Ratio Median Figure of 486 Publicly-Listed Companies 0.75x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Melbourne Enterprises, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Melbourne Enterprises's assets?
Raw Data
SEHK:158 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in HKD HK$392.80
SEHK:158 Share Price * SEHK (2019-08-19) in HKD HK$208
Hong Kong Real Estate Industry PB Ratio Median Figure of 229 Publicly-Listed Real Estate Companies 0.52x
Hong Kong Market PB Ratio Median Figure of 2,185 Publicly-Listed Companies 0.84x
SEHK:158 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:158 Share Price ÷ Book Value per Share (both in HKD)

= 208 ÷ 392.80

0.53x

* Primary Listing of Melbourne Enterprises.

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

  • Melbourne Enterprises is overvalued based on assets compared to the HK Real Estate industry average.
X
Value checks
We assess Melbourne Enterprises'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. Melbourne Enterprises 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.

158 Future Performance

 How is Melbourne Enterprises expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Melbourne Enterprises, future earnings growth has been estimated based on fundamentals.
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
-0.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Melbourne Enterprises expected to grow at an attractive rate?
  • Melbourne Enterprises'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
  • Melbourne Enterprises's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Unable to compare Melbourne Enterprises's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:158 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:158 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -0.5%
Hong Kong Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 9%
Hong Kong Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 16.4%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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:158 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:158 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-03-31 224 150 1,393
2018-12-31 222 151 1,846
2018-09-30 220 153 2,299
2018-06-30 223 153 2,143
2018-03-31 225 153 1,988
2017-12-31 229 151 1,752
2017-09-30 232 149 1,515
2017-06-30 232 149 1,158
2017-03-31 232 149 801
2016-12-31 232 155 541
2016-09-30 232 162 281
2016-06-30 231 163 239

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Melbourne Enterprises's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Melbourne Enterprises is high growth as no revenue estimate data is available.
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:158 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Melbourne Enterprises Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:158 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-03-31 55.74
2018-12-31 73.84
2018-09-30 91.94
2018-06-30 85.74
2018-03-31 79.53
2017-12-31 70.08
2017-09-30 60.62
2017-06-30 46.33
2017-03-31 32.04
2016-12-31 21.65
2016-09-30 11.26
2016-06-30 9.56

*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.
  • Unable to establish if Melbourne Enterprises will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Melbourne Enterprises'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.
Melbourne Enterprises 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.

158 Past Performance

  How has Melbourne Enterprises 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 Melbourne Enterprises'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.
  • Melbourne Enterprises has delivered over 20% year on year earnings growth in the past 5 years.
  • Melbourne Enterprises's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Melbourne Enterprises's 1-year earnings growth is negative, it can't be compared to the HK Real Estate industry average.
Earnings and Revenue History
Melbourne Enterprises'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 Melbourne Enterprises Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:158 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 224.33 1,393.43 12.93
2018-12-31 222.21 1,846.00 13.13
2018-09-30 220.08 2,298.58 13.34
2018-06-30 222.68 2,143.47 13.30
2018-03-31 225.27 1,988.36 13.25
2017-12-31 228.80 1,751.89 12.57
2017-09-30 232.34 1,515.43 11.89
2017-06-30 232.23 1,158.26 11.55
2017-03-31 232.13 801.10 11.20
2016-12-31 232.09 541.29 11.15
2016-09-30 232.06 281.49 11.10
2016-06-30 230.69 238.97 10.89
2016-03-31 229.33 196.46 10.68
2015-12-31 226.34 378.55 10.75
2015-09-30 223.35 560.64 10.83
2015-06-30 220.17 492.07 10.88
2015-03-31 216.99 423.49 10.94
2014-12-31 214.43 217.61 10.69
2014-09-30 211.87 11.72 10.45
2014-06-30 209.50 91.10 10.26
2014-03-31 207.13 170.49 10.08
2013-12-31 204.28 373.00 9.85
2013-09-30 201.42 575.51 9.62
2013-06-30 198.62 618.33 9.51
2013-03-31 195.83 661.14 9.41
2012-12-31 191.26 599.47 9.60
2012-09-30 186.70 537.80 9.78

*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.
  • Melbourne Enterprises has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Melbourne Enterprises used its assets more efficiently than the HK Real Estate industry average last year based on Return on Assets.
  • Melbourne Enterprises's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Melbourne Enterprises'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.
Melbourne Enterprises has a total score of 2/6, 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.

158 Health

 How is Melbourne Enterprises'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 Melbourne Enterprises's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Melbourne Enterprises is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Melbourne Enterprises's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Melbourne Enterprises'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.
  • Melbourne Enterprises has no debt, it does not need to be covered by short term assets.
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 Melbourne Enterprises Company Filings, last reported 4 months ago.

SEHK:158 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 9,820.05 0.00 263.02
2018-12-31 9,820.05 0.00 263.02
2018-09-30 9,806.45 0.00 273.96
2018-06-30 9,806.45 0.00 273.96
2018-03-31 8,532.89 0.00 240.51
2017-12-31 8,532.89 0.00 240.51
2017-09-30 7,611.63 0.00 246.46
2017-06-30 7,611.63 0.00 246.46
2017-03-31 6,698.76 0.00 212.68
2016-12-31 6,698.76 0.00 212.68
2016-09-30 6,248.28 0.00 219.98
2016-06-30 6,248.28 0.00 219.98
2016-03-31 5,964.83 0.00 183.94
2015-12-31 5,964.83 0.00 183.94
2015-09-30 6,031.13 0.00 175.78
2015-06-30 6,031.13 0.00 175.78
2015-03-31 5,892.64 0.00 137.67
2014-12-31 5,892.64 0.00 137.67
2014-09-30 5,580.55 0.00 139.66
2014-06-30 5,580.55 0.00 139.66
2014-03-31 5,572.44 0.00 113.67
2013-12-31 5,572.44 0.00 113.67
2013-09-30 5,683.82 0.00 124.57
2013-06-30 5,683.82 0.00 124.57
2013-03-31 5,516.96 0.00 102.56
2012-12-31 5,516.96 0.00 102.56
2012-09-30 5,223.31 0.00 107.57
  • Melbourne Enterprises has no debt.
  • Melbourne Enterprises has not taken on any debt in the past 5 years.
  • Melbourne Enterprises has no debt, it does not need to be covered by operating cash flow.
  • Melbourne Enterprises has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Melbourne Enterprises'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. Melbourne Enterprises 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.

158 Dividends

 What is Melbourne Enterprises'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
2.45%
Current annual income from Melbourne Enterprises dividends.
If you bought HK$2,000 of Melbourne Enterprises shares you are expected to receive HK$49 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?
  • Melbourne Enterprises's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.3%).
  • Melbourne Enterprises's dividend is below the markets top 25% of dividend payers in Hong Kong (6.25%).
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:158 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 141 Stocks 4.5%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 977 Stocks 3.9%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.3%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.3%
Hong Kong Top 25% Dividend Yield 75th Percentile 6.3%

Industry and Market average data is calculated daily.

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

SEHK:158 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-01-02 5.100 2.346
2018-02-08 5.000 2.571
2017-05-22 4.900 2.602
2017-01-26 4.800 2.700
2016-01-29 4.700 3.207
2014-12-12 4.600 3.408
2014-05-16 4.600 3.348
2014-01-02 4.600 3.287
2013-12-13 4.600 3.073
2013-01-02 4.600 3.009
2012-12-14 4.600 3.179
2012-05-18 4.600 3.440
2012-02-03 4.800 3.972
2012-01-06 4.400 3.955
2011-12-16 4.400 3.911
2011-05-27 4.600 3.865
2010-12-17 4.200 3.594
2010-06-18 3.800 4.175
2010-01-06 3.700 4.703
2009-12-18 3.700 5.070
2009-06-19 3.700 5.671
2009-01-30 3.400 6.657

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Melbourne Enterprises's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (10.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Melbourne Enterprises's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Melbourne Enterprises afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Melbourne Enterprises has a total score of 4/6, see the detailed checks below.


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

158 Management

 What is the CEO of Melbourne Enterprises'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.
  • Melbourne Enterprises has no CEO, or we have no data on them.
Management Team

Ming Fai Chung

TITLE
Co-Founder & Chairman of the Board
COMPENSATION
HK$150K
AGE
99

Patrick Tsang

TITLE
Executive Director
COMPENSATION
HK$150K
AGE
47
TENURE
4.3 yrs

Frederick Chung

TITLE
Company Secretary & Executive Director
COMPENSATION
HK$1M
AGE
75
Board of Directors Tenure

Average tenure and age of the Melbourne Enterprises board of directors in years:

19.8
Average Tenure
68
Average Age
  • The average tenure for the Melbourne Enterprises board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ming Fai Chung

TITLE
Co-Founder & Chairman of the Board
COMPENSATION
HK$150K
AGE
99
TENURE
4.3 yrs

Patrick Tsang

TITLE
Executive Director
COMPENSATION
HK$150K
AGE
47
TENURE
4.3 yrs

Frederick Chung

TITLE
Company Secretary & Executive Director
COMPENSATION
HK$1M
AGE
75
TENURE
51.7 yrs

Patrick Yuen

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
62
TENURE
14.9 yrs

Yun Wah Fong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
94
TENURE
24.8 yrs

Pak Shiu Lo

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
65
TENURE
30.4 yrs

Robert Chung

TITLE
Non-Executive Director
COMPENSATION
HK$150K
AGE
71
TENURE
43.7 yrs

Kenneth Lau

TITLE
Alternate Director
AGE
43
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Melbourne Enterprises'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. Melbourne Enterprises 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.

158 News

Simply Wall St News

Could The Melbourne Enterprises Limited (HKG:158) Ownership Structure Tell Us Something Useful?

Our analysis of the ownership of the company, below, shows that institutions don't own shares in the company. … Private Company Ownership We can see that Private Companies own 12%, of the shares on issue. … Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Simply Wall St -

Melbourne Enterprises Limited (HKG:158) Has Got What It Takes To Be An Attractive Dividend Stock

Dividend Growth Potential Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. … It's good to see Melbourne Enterprises has been growing its earnings per share at 32% a year over the past 5 years. … Conclusion To summarise, shareholders should always check that Melbourne Enterprises'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 -

I Ran A Stock Scan For Earnings Growth And Melbourne Enterprises (HKG:158) Passed With Ease

So if you're like me, you might be more interested in profitable, growing companies, like Melbourne Enterprises (HKG:158). … In the last three years Melbourne Enterprises's earnings per share took off like a rocket; fast, and from a low base. … I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats).

Simply Wall St -

Read This Before You Buy Melbourne Enterprises Limited (HKG:158) Because Of Its P/E Ratio

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Melbourne Enterprises Limited's (HKG:158) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

If You Had Bought Melbourne Enterprises (HKG:158) Shares Five Years Ago You'd Have Made 50%

For example, long term Melbourne Enterprises Limited (HKG:158) shareholders have enjoyed a 50% share price rise over the last half decade, well in excess of the market return of around 22% (not including dividends). … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over half a decade, Melbourne Enterprises managed to grow its earnings per share at 32% a year.

Simply Wall St -

What Kind Of Shareholders Own Melbourne Enterprises Limited (HKG:158)?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Melbourne Enterprises is not a large company by global standards. … institutions don't own shares in the company.

Simply Wall St -

What does Melbourne Enterprises Limited's (HKG:158) Balance Sheet Tell Us About Its Future?

The direct benefit for Melbourne Enterprises Limited (HKG:158), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … Does 158's growth rate justify its decision for financial flexibility over lower cost of capital … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital.

Simply Wall St -

Do You Like Melbourne Enterprises Limited (HKG:158) At This P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Melbourne Enterprises Limited's (HKG:158) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What To Know Before Buying Melbourne Enterprises Limited (HKG:158) For Its Dividend

Historically, Melbourne Enterprises Limited (HKG:158) has been paying a dividend to shareholders. … Let's dig deeper into whether Melbourne Enterprises should have a place in your portfolio. … View our latest analysis for Melbourne Enterprises

Simply Wall St -

Do Insiders Own Lots Of Shares In Melbourne Enterprises Limited (HKG:158)?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Melbourne Enterprises is not a large company by global standards. … institutions don't own shares in the company.

Simply Wall St -

158 Company Info

Description

Melbourne Enterprises Limited, an investment holding company, engages in property investment activities in Hong Kong. Its investment properties include Melbourne Plaza, Kimley Commercial Building, and On Hing Mansion Shop 9B located in Central. The company is based in Central, Hong Kong.

Details
Name: Melbourne Enterprises Limited
158
Exchange: SEHK
Founded:
HK$5,060,000,000
25,000,000
Website: http://
Address: Melbourne Enterprises Limited
Melbourne Plaza,
Rooms 2102-4,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 158 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
18
Melbourne Enterprises employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/19 12:36
End of day share price update: 2019/08/19 00:00
Last earnings filing: 2019/06/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/09/30


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.