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Safety Godown Company

SEHK:237
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
237
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

Safety Godown Company, Limited, an investment holding company, engages in the leasing of investment properties in Hong Kong. The last earnings update was 101 days ago. More info.


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237 Share Price and Events
7 Day Returns
-3.1%
SEHK:237
4.9%
HK Real Estate
1.7%
HK Market
1 Year Returns
-21.1%
SEHK:237
-4.6%
HK Real Estate
-9.5%
HK Market
237 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Safety Godown Company (237) -3.1% -3.1% -3.7% -21.1% -26.1% 42.3%
HK Real Estate 4.9% 7.9% 17.4% -4.6% 54.2% 61.4%
HK Market 1.7% 3.7% 14.2% -9.5% 29.3% 20.7%
1 Year Return vs Industry and Market
  • 237 underperformed the Real Estate industry which returned -4.6% over the past year.
  • 237 underperformed the Market in Hong Kong which returned -9.5% over the past year.
Price Volatility
237
Industry
5yr Volatility vs Market

Value

 Is Safety Godown Company 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 Safety Godown Company 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 Safety Godown Company.

SEHK:237 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 9.1%
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:237
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 1.1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.097 (1 + (1- 25%) (0%))
1.065
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.065 * 6.65%)
9.09%

Discounted Cash Flow Calculation for SEHK:237 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Safety Godown Company 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:237 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 9.09%)
2019 249.37 Est @ 74.7% 228.60
2020 381.26 Est @ 52.89% 320.38
2021 524.69 Est @ 37.62% 404.19
2022 666.03 Est @ 26.94% 470.32
2023 795.61 Est @ 19.46% 515.03
2024 908.75 Est @ 14.22% 539.26
2025 1,004.67 Est @ 10.56% 546.52
2026 1,084.94 Est @ 7.99% 541.02
2027 1,152.14 Est @ 6.19% 526.67
2028 1,209.01 Est @ 4.94% 506.63
Present value of next 10 years cash flows HK$4,598.60
SEHK:237 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$1,209.01 × (1 + 2%) ÷ (9.09% – 2%)
HK$17,407.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$17,407.81 ÷ (1 + 9.09%)10
HK$7,294.59
SEHK:237 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$4,598.60 + HK$7,294.59
HK$11,893.19
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$11,893.19 / 135.00
HK$88.1
SEHK:237 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$88.10
Current discount Discount to share price of HK$13.96
= -1 x (HK$13.96 - HK$88.10) / HK$88.10
84.2%

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

Current Discount
Amount off the current price Safety Godown Company is available for.
Intrinsic value
>50%
Share price is HK$13.96 vs Future cash flow value of HK$88.1
Current Discount Checks
For Safety Godown Company to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Safety Godown Company's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Safety Godown Company's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Safety Godown Company's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Safety Godown Company's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:237 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in HKD HK$3.10
SEHK:237 Share Price ** SEHK (2019-03-21) in HKD HK$13.96
Hong Kong Real Estate Industry PE Ratio Median Figure of 190 Publicly-Listed Real Estate Companies 6.38x
Hong Kong Market PE Ratio Median Figure of 1,498 Publicly-Listed Companies 10.92x

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

** Primary Listing of Safety Godown Company.

SEHK:237 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:237 Share Price ÷ EPS (both in HKD)

= 13.96 ÷ 3.10

4.51x

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

  • Safety Godown Company is good value based on earnings compared to the HK Real Estate industry average.
  • Safety Godown Company is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Safety Godown Company's expected growth come at a high price?
Raw Data
SEHK:237 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
8%per year
Hong Kong Real Estate Industry PEG Ratio Median Figure of 58 Publicly-Listed Real Estate Companies 0.27x
Hong Kong Market PEG Ratio Median Figure of 469 Publicly-Listed Companies 0.8x

*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 Safety Godown Company, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Safety Godown Company's assets?
Raw Data
SEHK:237 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in HKD HK$35.57
SEHK:237 Share Price * SEHK (2019-03-21) in HKD HK$13.96
Hong Kong Real Estate Industry PB Ratio Median Figure of 228 Publicly-Listed Real Estate Companies 0.6x
Hong Kong Market PB Ratio Median Figure of 2,138 Publicly-Listed Companies 0.99x
SEHK:237 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:237 Share Price ÷ Book Value per Share (both in HKD)

= 13.96 ÷ 35.57

0.39x

* Primary Listing of Safety Godown Company.

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

  • Safety Godown Company is good value based on assets compared to the HK Real Estate industry average.
X
Value checks
We assess Safety Godown Company'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. Safety Godown Company has a total score of 5/6, 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.

Future Performance

 How is Safety Godown Company expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Safety Godown Company, 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
8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Safety Godown Company expected to grow at an attractive rate?
  • Safety Godown Company's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Safety Godown Company's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Safety Godown Company's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:237 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:237 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 8%
Hong Kong Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
Hong Kong Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 16.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 9.9%

*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:237 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 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:237 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:237 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-09-30 110 143 418
2018-06-30 123 65 445
2018-03-31 136 -14 471
2017-12-31 145 -59 402
2017-09-30 154 -105 333
2017-06-30 153 -69 301
2017-03-31 151 -34 270
2016-12-31 165 -71 554
2016-09-30 179 -107 838
2016-06-30 176 -85 842
2016-03-31 172 -62 846
2015-12-31 167 4 712

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Safety Godown Company's earnings are expected to grow by 8% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Safety Godown Company 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:237 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 0 Analyst Estimates (S&P Global) See Below

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

SEHK:237 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:237 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-09-30 3.10
2018-06-30 3.29
2018-03-31 3.49
2017-12-31 2.98
2017-09-30 2.46
2017-06-30 2.23
2017-03-31 2.00
2016-12-31 4.10
2016-09-30 6.21
2016-06-30 6.24
2016-03-31 6.26
2015-12-31 5.27

*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 Safety Godown Company will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Safety Godown Company'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.
Safety Godown Company has a total score of 1/6, 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.

Past Performance

  How has Safety Godown Company 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 Safety Godown Company'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.
  • Safety Godown Company's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Safety Godown Company's 1-year earnings growth exceeds its 5-year average (25.7% vs 0.4%)
  • Safety Godown Company's earnings growth has not exceeded the HK Real Estate industry average in the past year (25.7% vs 32.8%).
Earnings and Revenue History
Safety Godown Company'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 Safety Godown Company Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:237 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 110.31 417.95 13.41
2018-06-30 123.15 444.58 13.12
2018-03-31 135.99 471.21 12.82
2017-12-31 144.73 401.88 12.73
2017-09-30 154.08 332.54 12.63
2017-06-30 152.63 301.09 12.67
2017-03-31 151.18 269.63 12.71
2016-12-31 165.28 553.90 15.17
2016-09-30 179.38 838.16 17.64
2016-06-30 175.91 841.94 18.10
2016-03-31 172.45 845.72 18.55
2015-12-31 166.54 711.96 17.54
2015-09-30 160.63 578.20 16.53
2015-06-30 159.93 588.73 16.92
2015-03-31 159.22 599.27 17.32
2014-12-31 154.22 438.05 16.83
2014-09-30 149.22 276.83 16.34
2014-06-30 139.96 240.74 16.97
2014-03-31 130.71 204.66 17.60
2013-12-31 126.79 414.73 18.57
2013-09-30 122.88 624.79 19.54
2013-06-30 124.38 724.46 19.36
2013-03-31 125.87 824.12 19.17
2012-12-31 129.54 663.69 19.70
2012-09-30 133.21 503.25 20.24
2012-06-30 122.81 406.09 20.61
2012-03-31 112.42 308.93 20.98

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

Health

 How is Safety Godown Company'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 Safety Godown Company's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Safety Godown Company is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Safety Godown Company's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Safety Godown Company'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.
  • Safety Godown Company 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 Safety Godown Company Company Filings, last reported 5 months ago.

SEHK:237 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 4,801.57 0.00 370.17
2018-06-30 4,801.57 0.00 370.17
2018-03-31 4,573.55 0.00 565.39
2017-12-31 4,573.55 0.00 565.39
2017-09-30 4,349.10 0.00 613.44
2017-06-30 4,349.10 0.00 613.44
2017-03-31 4,197.04 23.24 528.80
2016-12-31 4,197.04 23.24 528.80
2016-09-30 4,113.96 0.00 644.31
2016-06-30 4,113.96 0.00 644.31
2016-03-31 4,528.51 0.00 883.02
2015-12-31 4,528.51 0.00 883.02
2015-09-30 3,886.97 0.00 182.46
2015-06-30 3,886.97 0.00 182.46
2015-03-31 3,587.10 0.00 233.63
2014-12-31 3,587.10 0.00 233.63
2014-09-30 3,182.44 0.00 156.98
2014-06-30 3,182.44 0.00 156.98
2014-03-31 3,039.35 0.00 167.46
2013-12-31 3,039.35 0.00 167.46
2013-09-30 2,952.68 0.00 239.36
2013-06-30 2,952.68 0.00 239.36
2013-03-31 2,881.06 0.00 179.46
2012-12-31 2,881.06 0.00 179.46
2012-09-30 2,381.89 0.00 122.74
2012-06-30 2,381.89 0.00 122.74
2012-03-31 2,093.86 0.00 156.10
  • Safety Godown Company has no debt.
  • Safety Godown Company had no debt 5 years ago.
  • Safety Godown Company has no debt, it does not need to be covered by operating cash flow.
  • Safety Godown Company has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Safety Godown Company'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. Safety Godown Company 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.

Dividends

 What is Safety Godown Company'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
4.01%
Current annual income from Safety Godown Company dividends.
If you bought HK$2,000 of Safety Godown Company shares you are expected to receive HK$80 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?
  • Safety Godown Company's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.97%).
  • Safety Godown Company's dividend is below the markets top 25% of dividend payers in Hong Kong (5.3%).
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:237 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 136 Stocks 3.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 924 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

SEHK:237 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:237 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-11-28 0.560 3.903
2018-07-12 0.560 3.943
2018-06-28 0.560 3.540
2017-07-12 1.300 7.147
2017-06-28 1.300 6.878
2016-12-09 0.420 2.265
2016-11-28 0.420 2.222
2016-07-11 0.340 1.651
2016-06-28 0.340 1.479
2015-12-09 0.870 4.519
2015-11-26 0.870 4.818
2015-07-09 0.880 6.006
2015-06-25 0.880 5.841
2014-12-08 0.450 3.549
2014-11-27 0.450 3.506
2014-07-10 0.360 3.422
2014-06-26 0.360 3.696
2013-12-10 0.310 3.133
2013-11-28 0.310 2.931
2013-07-11 0.350 3.380
2013-06-27 0.350 3.334
2012-11-26 0.340 2.930
2012-06-28 1.190 13.835
2011-11-25 1.190 22.316
2011-06-28 0.290 5.593
2010-11-26 0.140 2.345
2010-07-12 0.140 2.921
2009-11-27 0.080 1.877
2009-07-07 0.080 1.949
2009-03-23 0.080 2.405

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Safety Godown Company's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.5x 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 Safety Godown Company's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Safety Godown Company afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Safety Godown Company 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.

Management

 What is the CEO of Safety Godown Company'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.
  • Safety Godown Company has no CEO, or we have no data on them.
Management Team

Wayne Lu

TITLE
Executive Director
AGE
44

Joel Mui

TITLE
Company Secretary
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Safety Godown Company board of directors in years:

15.2
Average Tenure
66
Average Age
  • The average tenure for the Safety Godown Company board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Wayne Lu

TITLE
Executive Director
AGE
44
TENURE
10.3 yrs

Ming Lam

TITLE
Independent Non-Executive Director
COMPENSATION
HK$248K
AGE
66
TENURE
15.2 yrs

Khai Choon Gan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$278K
AGE
72
TENURE
29.2 yrs

Carmelo Lee

TITLE
Non-Executive Director
COMPENSATION
HK$248K
AGE
58
TENURE
19.2 yrs

Lawrence Leung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$248K
AGE
70
TENURE
12.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Safety Godown Company'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. Safety Godown Company 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.

News

Simply Wall St News

Investors Who Bought Safety Godown Company Shares Five Years Ago Are Now Up 48%

For example, long term Safety Godown Company, Limited (HKG:237) shareholders have enjoyed a 48% share price rise over the last half decade, well in excess of the market return of around 19% (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. … Safety Godown Company's earnings per share are down 7.7% per year, despite strong share price performance over five years.

Simply Wall St -

Could Safety Godown Company, Limited's (HKG:237) Investor Composition Influence The Stock Price?

Every investor in Safety Godown Company, Limited (HKG:237) should be aware of the most powerful shareholder groups. … Safety Godown Company is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Should You Buy Safety Godown Company, Limited (HKG:237) For Its Dividend?

Historically, Safety Godown Company, Limited (HKG:237) has paid dividends to shareholders, and these days it yields 3.9%. … Let's dig deeper into whether Safety Godown Company should have a place in your portfolio. … Check out our latest analysis for Safety Godown Company

Simply Wall St -

Is Safety Godown Company, Limited's (HKG:237) Balance Sheet Strong Enough To Weather A Storm?

Safety Godown Company, Limited (HKG:237), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … Does 237's growth rate justify its decision for financial flexibility over lower cost of capital. … But the downside of having debt in a company’s balance sheet is the debtholder’s higher claim on its assets in the case of liquidation, as well as stricter capital management requirements.

Simply Wall St -

Safety Godown Company, Limited (HKG:237) Will Pay HK$0.28 In Dividends

On the 11 January 2019, Safety Godown Company, Limited (HKG:237) will be paying shareholders an upcoming dividend amount of HK$0.28 per share. … Below, I will explain how holding Safety Godown Company can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … Based on future earnings growth, will it be able to continue to payout dividend at the current rate

Simply Wall St -

Is Safety Godown Company Limited's (HKG:237) P/E Ratio Really That Good?

We'll show how you can use Safety Godown Company Limited's (HKG:237) P/E ratio to inform your assessment of the investment opportunity. … Safety Godown Company has a price to earnings ratio of 3.84, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What To Know Before Buying Safety Godown Company Limited (HKG:237) For Its Dividend

Historically, Safety Godown Company Limited (HKG:237) has paid dividends to shareholders, and these days it yields 4.1%. … Does Safety Godown Company tick all the boxes of a great dividend stock? … Check out our latest analysis for Safety Godown Company

Simply Wall St -

2 Days Left To Safety Godown Company Limited (HKG:237)’s Ex-Dividend Date, Should Investors Buy?

Important news for shareholders and potential investors in Safety Godown Company Limited (HKG:237): The dividend payment of HK$0.28 per share will be distributed into shareholder on 12 September 2018, and the stock will begin trading ex-dividend at an earlier date, 22 August 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Safety Godown Company's latest financial data to analyse its dividend characteristics. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?

Simply Wall St -

How Has Safety Godown Company Limited's (HKG:237) Earnings Fared Against The Long Term Trend

Investors with a long-term horizong may find it valuable to assess Safety Godown Company Limited's (HKG:237) earnings trend over time and against its industry benchmark as opposed to simply looking at a sincle earnings announcement at one point in time. … Below is my commentary, albiet very simple and high-level, on how Safety Godown Company is currently performing. … Did 237 beat its long-term earnings growth trend and its industry.

Simply Wall St -

Should You Buy Safety Godown Company Limited (HKG:237) For Its Dividend?

Over the past 10 years, Safety Godown Company Limited (HKG:237) has returned an average of 5.00% per year to shareholders in terms of dividend yield. … Let's dig deeper into whether Safety Godown Company should have a place in your portfolio. … Check out our latest analysis for Safety Godown Company

Simply Wall St -

Company Info

Description

Safety Godown Company, Limited, an investment holding company, engages in the leasing of investment properties in Hong Kong. It operates through Godown Operations, Property Investment, and Treasury Investment segments. The company is also involved in the operation of public godowns; and securities trading activities. In addition, it invests in listed securities, bonds, and mutual funds in Hong Kong and overseas stock markets; local and foreign currencies bank deposits; and other financial products. Safety Godown Company, Limited was founded in 1960 and is based in Kwun Tong, Hong Kong.

Details
Name: Safety Godown Company, Limited
237
Exchange: SEHK
Founded: 1960
HK$1,884,600,000
135,000,000
Website: http://www.safetygodown.com
Address: Safety Godown Company, Limited
Lu Plaza,
Unit 1801,
Kwun Tong,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 237 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
37
Safety Godown Company employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 12:41
End of day share price update: 2019/03/21 00:00
Last estimates confirmation: 2018/06/28
Last earnings filing: 2018/12/10
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


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.