SEHK:2048

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E-House (China) Enterprise Holdings

Executive Summary

E-House (China) Enterprise Holdings Limited, an investment holding company, provides real estate transaction services in China.


Snowflake Analysis

Mediocre balance sheet with limited growth.

Share Price & News

How has E-House (China) Enterprise Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2048 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

6.3%

2048

1.3%

HK Real Estate

1.4%

HK Market


1 Year Return

-24.5%

2048

-17.9%

HK Real Estate

-9.9%

HK Market

Return vs Industry: 2048 underperformed the Hong Kong Real Estate industry which returned -17.9% over the past year.

Return vs Market: 2048 underperformed the Hong Kong Market which returned -9.9% over the past year.


Shareholder returns

2048IndustryMarket
7 Day6.3%1.3%1.4%
30 Day15.9%-7.6%-3.7%
90 Day11.8%-13.8%-7.8%
1 Year-22.8%-24.5%-14.3%-17.9%-6.9%-9.9%
3 Yearn/a6.4%-5.4%-4.8%-14.4%
5 Yearn/a10.7%-8.1%-15.2%-28.3%

Price Volatility Vs. Market

How volatile is E-House (China) Enterprise Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is E-House (China) Enterprise Holdings undervalued compared to its fair value and its price relative to the market?

12.08x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 2048 (HK$7.94) is trading above our estimate of fair value (HK$2.14)

Significantly Below Fair Value: 2048 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 2048 is poor value based on its PE Ratio (12.1x) compared to the Real Estate industry average (6.2x).

PE vs Market: 2048 is poor value based on its PE Ratio (12.1x) compared to the Hong Kong market (9.3x).


Price to Earnings Growth Ratio

PEG Ratio: 2048 is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: 2048 is overvalued based on its PB Ratio (1.3x) compared to the HK Real Estate industry average (0.4x).


Next Steps

Future Growth

How is E-House (China) Enterprise Holdings forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

16.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2048's forecast earnings growth (16.2% per year) is above the savings rate (1.6%).

Earnings vs Market: 2048's earnings (16.2% per year) are forecast to grow slower than the Hong Kong market (16.6% per year).

High Growth Earnings: 2048's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2048's revenue (19.3% per year) is forecast to grow faster than the Hong Kong market (10.5% per year).

High Growth Revenue: 2048's revenue (19.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2048's Return on Equity is forecast to be low in 3 years time (13.1%).


Next Steps

Past Performance

How has E-House (China) Enterprise Holdings performed over the past 5 years?

32.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2048 has a high level of non-cash earnings.

Growing Profit Margin: 2048's current net profit margins (9.5%) are lower than last year (16%).


Past Earnings Growth Analysis

Earnings Trend: 2048's earnings have grown significantly by 32% per year over the past 5 years.

Accelerating Growth: 2048's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2048 had negative earnings growth (-9.4%) over the past year, making it difficult to compare to the Real Estate industry average (2.8%).


Return on Equity

High ROE: 2048's Return on Equity (12%) is considered low.


Next Steps

Financial Health

How is E-House (China) Enterprise Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 2048's short term assets (CN¥15.1B) exceed its short term liabilities (CN¥5.7B).

Long Term Liabilities: 2048's short term assets (CN¥15.1B) exceed its long term liabilities (CN¥3.4B).


Debt to Equity History and Analysis

Debt Level: 2048's debt to equity ratio (65.2%) is considered high.

Reducing Debt: Insufficient data to determine if 2048's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: 2048's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 2048's interest payments on its debt are well covered by EBIT (5.6x coverage).


Balance Sheet


Next Steps

Dividend

What is E-House (China) Enterprise Holdings's current dividend yield, its reliability and sustainability?

2.12%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: 2048's dividend (2.12%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.58%).

High Dividend: 2048's dividend (2.12%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.38%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether 2048's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if 2048's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25.6%), 2048's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2048's dividends in 3 years are forecast to be well covered by earnings (29.8% payout ratio).


Next Steps

Management

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

1.2yrs

Average management tenure


CEO

Zu Yu Ding (46yo)

no data

Tenure

CN¥19,427,000

Compensation

Mr. Zu Yu Ding has been Co-President for E-House (China) Holdings Limited since April 2012. Mr. Ding serves as Chief Executive Officer at E-House (China) Enterprise Holdings Limited and has been its Execut ...


CEO Compensation Analysis

Compensation vs Market: Zu Yu's total compensation ($USD2.72M) is above average for companies of similar size in the Hong Kong market ($USD446.01K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Xin Zhou
Chairman of the Boardno dataCN¥24.17m3.31% CN¥363.5m
Zu Yu Ding
CEO & Executive Directorno dataCN¥19.43mno data
Canhao Huang
Vice Chairmanno dataCN¥17.54mno data
Li-Lan Cheng
Executive Director2.17yrsCN¥2.42mno data
Liang Zhou
CFO & Joint Company Secretaryno datano datano data
An Yan
Chief Operating Officer1.17yrsno datano data
Lei Zong
President of the Real Estate Agency Service - Primary Market1.17yrsno datano data
Yan Zhang
President of Real Estate Data & Consulting Services Divisionno datano datano data
Wen Ting Yang
President of the Real Estate Brokerage Network Services Businessno datano datano data
Ching Cheng
Joint Company Secretary1.83yrsno datano data

1.2yrs

Average Tenure

45.5yo

Average Age

Experienced Management: 2048's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Xin Zhou
Chairman of the Boardno dataCN¥24.17m3.31% CN¥363.5m
Zu Yu Ding
CEO & Executive Directorno dataCN¥19.43mno data
Canhao Huang
Vice Chairmanno dataCN¥17.54mno data
Li-Lan Cheng
Executive Director2.17yrsCN¥2.42mno data
Jin Li
Independent Non Executive Director1.83yrsCN¥220.00kno data
Hongchao Zhu
Independent Non Executive Director1.83yrsCN¥220.00kno data
Bin Mo
Non Executive Director2.17yrsCN¥220.00kno data
Jiusheng Zhu
Non Executive Director2.17yrsCN¥220.00kno data
Liqun Wang
Independent Non Executive Director1.83yrsCN¥220.00kno data
Bang Zhang
Independent Non Executive Director1.83yrsCN¥265.00kno data

2.0yrs

Average Tenure

52yo

Average Age

Experienced Board: 2048's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


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.


Ownership Breakdown

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


Top Shareholders

Company Information

E-House (China) Enterprise Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: E-House (China) Enterprise Holdings Limited
  • Ticker: 2048
  • Exchange: SEHK
  • Founded: 2000
  • Industry: Real Estate Services
  • Sector: Real Estate
  • Market Cap: HK$10.996b
  • Shares outstanding: 1.38b
  • Website: https://www.ehousechina.com

Number of Employees


Location

  • E-House (China) Enterprise Holdings Limited
  • Qiushi Building
  • 11th Floor
  • Shanghai
  • 200072
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2048SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJul 2018
2048SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJul 2018
2048SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJul 2018

Biography

E-House (China) Enterprise Holdings Limited, an investment holding company, provides real estate transaction services in China. It primarily offers real estate agency, real estate data and consulting, and real estate brokerage network services to real estate developers, brokerage firms, banks, investors, and government and non-profit organizations. The company also provides technology and information development and consulting services, and real estate marketing services. E-House (China) Enterprise Holdings Limited was founded in 2000 and is headquartered in Shanghai, China. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/31 13:49
End of Day Share Price2020/05/29 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.