SEHK:278

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Wah Ha Realty Company Limited, an investment holding company, invests in, develops, and manages properties in Hong Kong.


Snowflake Analysis

Flawless balance sheet unattractive dividend payer.

Share Price & News

How has Wah Ha Realty's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 278 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.8%

278

2.9%

HK Real Estate

0.8%

HK Market


1 Year Return

-40.8%

278

-1.2%

HK Real Estate

6.9%

HK Market

Return vs Industry: 278 underperformed the Hong Kong Real Estate industry which returned -1.2% over the past year.

Return vs Market: 278 underperformed the Hong Kong Market which returned 6.9% over the past year.


Shareholder returns

278IndustryMarket
7 Day-2.8%2.9%0.8%
30 Day-9.6%0.3%-0.5%
90 Day-14.2%6.4%9.8%
1 Year-38.0%-40.8%4.1%-1.2%11.3%6.9%
3 Year-25.4%-42.8%13.8%0.1%3.3%-7.7%
5 Year-0.4%-31.3%55.5%28.1%22.6%1.9%

Price Volatility Vs. Market

How volatile is Wah Ha Realty's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Wah Ha Realty undervalued compared to its fair value and its price relative to the market?

0.48x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: 278 (HK$5.15) is trading above our estimate of fair value (HK$2.77)

Significantly Below Fair Value: 278 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 278 is unprofitable, so we can't compare its PE Ratio to the HK Real Estate industry average.

PE vs Market: 278 is unprofitable, so we can't compare its PE Ratio to the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 278's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 278's PB Ratio (0.5x) is in line with the HK Real Estate industry average.


Next Steps

Future Growth

How is Wah Ha Realty forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

15.4%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Wah Ha Realty has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Wah Ha Realty performed over the past 5 years?

1.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 278 is currently unprofitable.

Growing Profit Margin: 278 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 278 is unprofitable, but has reduced losses over the past 5 years at a rate of 1.2% per year.

Accelerating Growth: Unable to compare 278's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 278 is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (4.5%).


Return on Equity

High ROE: 278 has a negative Return on Equity (-3.79%), as it is currently unprofitable.


Next Steps

Financial Health

How is Wah Ha Realty's financial position?


Financial Position Analysis

Short Term Liabilities: 278's short term assets (HK$325.9M) exceed its short term liabilities (HK$65.2M).

Long Term Liabilities: 278's short term assets (HK$325.9M) exceed its long term liabilities (HK$849.6K).


Debt to Equity History and Analysis

Debt Level: 278 is debt free.

Reducing Debt: 278 has not had any debt for past 5 years.

Debt Coverage: 278 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 278 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Wah Ha Realty current dividend yield, its reliability and sustainability?

5.83%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: 278's dividend (5.83%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.34%).

High Dividend: 278's dividend (5.83%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.74%).


Stability and Growth of Payments

Stable Dividend: 278's dividend payments have been volatile in the past 10 years.

Growing Dividend: 278's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: 278 is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

20.6yrs

Average board tenure


CEO

Wah Ha Realty has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Kee Wee Cheung
Chairman20.58yrsHK$420.00k26.59%
HK$ 165.6m
Lin Wee Cheung
Executive Director35.58yrsHK$420.00k12.18%
HK$ 75.9m
Ying Wai Cheung
Head of General Management - the Group & Executive Director21.58yrsHK$420.00k11.69%
HK$ 72.8m
Kwok Tung Ng
Non-Executive Director19.58yrsHK$120.00kno data
Hon Keung Lam
Independent Non-Executive Director27.58yrsHK$120.00kno data
Woon Kong Chan
Independent Non-Executive Director16.58yrsHK$120.00kno data
Cheong Yan Au-Yang
Independent Non-Executive Director5.67yrsHK$120.00kno data

20.6yrs

Average Tenure

68yo

Average Age

Experienced Board: 278's board of directors are seasoned and experienced ( 20.6 years average tenure).


Ownership

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


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Wah Ha Realty Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Wah Ha Realty Company Limited
  • Ticker: 278
  • Exchange: SEHK
  • Founded: 1961
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: HK$622.944m
  • Shares outstanding: 120.96m
  • Website: https://www.wahha.com

Number of Employees


Location

  • Wah Ha Realty Company Limited
  • Dominion Centre
  • Room 2500
  • Wan Chai
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
278SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 1992

Biography

Wah Ha Realty Company Limited, an investment holding company, invests in, develops, and manages properties in Hong Kong. The company’s properties comprise commercial/shopping arcades, industrial/godowns, a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/15 19:12
End of Day Share Price2020/08/14 00:00
Earnings2020/03/31
Annual Earnings2020/03/31


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.