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Wah Ha Realty

SEHK:278
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
278
SEHK
HK$998M
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

Wah Ha Realty Company Limited, an investment holding company, invests in, develops, and manages properties in Hong Kong. The last earnings update was 19 days ago. More info.


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278 Share Price and Events
7 Day Returns
-2.9%
SEHK:278
0.8%
HK Real Estate
0.6%
HK Market
1 Year Returns
0.5%
SEHK:278
3.8%
HK Real Estate
-5.9%
HK Market
278 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Wah Ha Realty (278) -2.9% -1.8% -7.3% 0.5% 2.5% 52.8%
HK Real Estate 0.8% 3.8% -6.8% 3.8% 43.9% 48.7%
HK Market 0.6% 3.7% -8.2% -5.9% 17.2% 4.8%
1 Year Return vs Industry and Market
  • 278 underperformed the Real Estate industry which returned 3.8% over the past year.
  • 278 outperformed the Market in Hong Kong which returned -5.9% over the past year.
Price Volatility
278
Industry
5yr Volatility vs Market

Value

 Is Wah Ha Realty 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 Wah Ha Realty 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 Wah Ha Realty.

SEHK:278 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 8.9%
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:278
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 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.05 (1 + (1- 25%) (0%))
1.034
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.034 * 6.65%)
8.88%

Discounted Cash Flow Calculation for SEHK:278 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Wah Ha Realty 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:278 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 8.88%)
2020 2.66 Est @ 12.17% 2.45
2021 2.91 Est @ 9.12% 2.45
2022 3.11 Est @ 6.99% 2.41
2023 3.28 Est @ 5.49% 2.33
2024 3.43 Est @ 4.45% 2.24
2025 3.55 Est @ 3.71% 2.13
2026 3.67 Est @ 3.2% 2.02
2027 3.77 Est @ 2.84% 1.91
2028 3.87 Est @ 2.59% 1.80
2029 3.96 Est @ 2.41% 1.69
Present value of next 10 years cash flows HK$21.44
SEHK:278 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$3.96 × (1 + 2%) ÷ (8.88% – 2%)
HK$58.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$58.80 ÷ (1 + 8.88%)10
HK$25.12
SEHK:278 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$21.44 + HK$25.12
HK$46.56
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$46.56 / 120.96
HK$0.38
SEHK:278 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.38
Current discount Discount to share price of HK$8.25
= -1 x (HK$8.25 - HK$0.38) / HK$0.38
-2043.5%

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

  • The current share price of Wah Ha Realty 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 Wah Ha Realty's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Wah Ha Realty's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:278 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in HKD HK$1.13
SEHK:278 Share Price ** SEHK (2019-07-16) in HKD HK$8.25
Hong Kong Real Estate Industry PE Ratio Median Figure of 189 Publicly-Listed Real Estate Companies 6.52x
Hong Kong Market PE Ratio Median Figure of 1,503 Publicly-Listed Companies 10.71x

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

** Primary Listing of Wah Ha Realty.

SEHK:278 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:278 Share Price ÷ EPS (both in HKD)

= 8.25 ÷ 1.13

7.27x

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

  • Wah Ha Realty is overvalued based on earnings compared to the HK Real Estate industry average.
  • Wah Ha Realty is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Wah Ha Realty's expected growth come at a high price?
Raw Data
SEHK:278 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
3.9%per year
Hong Kong Real Estate Industry PEG Ratio Median Figure of 62 Publicly-Listed Real Estate Companies 0.31x
Hong Kong Market PEG Ratio Median Figure of 477 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 Wah Ha Realty, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Wah Ha Realty's assets?
Raw Data
SEHK:278 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in HKD HK$11.43
SEHK:278 Share Price * SEHK (2019-07-16) in HKD HK$8.25
Hong Kong Real Estate Industry PB Ratio Median Figure of 230 Publicly-Listed Real Estate Companies 0.57x
Hong Kong Market PB Ratio Median Figure of 2,190 Publicly-Listed Companies 0.92x
SEHK:278 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:278 Share Price ÷ Book Value per Share (both in HKD)

= 8.25 ÷ 11.43

0.72x

* Primary Listing of Wah Ha Realty.

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

  • Wah Ha Realty is overvalued based on assets compared to the HK Real Estate industry average.
X
Value checks
We assess Wah Ha Realty'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. Wah Ha Realty has a total score of 1/6, 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 Wah Ha Realty expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Wah Ha Realty, 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
3.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Wah Ha Realty expected to grow at an attractive rate?
  • Wah Ha Realty's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Wah Ha Realty's earnings growth is positive but not above the Hong Kong market average.
  • Unable to compare Wah Ha Realty's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:278 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:278 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 3.9%
Hong Kong Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
Hong Kong Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 16.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*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:278 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:278 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:278 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-03-31 139 137
2018-12-31 130 201
2018-09-30 61 4 265
2018-06-30 57 3 262
2018-03-31 54 2 259
2017-12-31 23 5 200
2017-09-30 52 8 141
2017-06-30 54 8 109
2017-03-31 56 9 77
2016-12-31 56 7 54
2016-09-30 56 5 30
2016-06-30 70 20 48

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Wah Ha Realty's earnings are expected to grow by 3.9% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Wah Ha Realty 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:278 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Wah Ha Realty Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:278 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:278 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-03-31 1.13
2018-12-31 1.66
2018-09-30 2.19
2018-06-30 2.17
2018-03-31 2.14
2017-12-31 1.65
2017-09-30 1.16
2017-06-30 0.90
2017-03-31 0.64
2016-12-31 0.44
2016-09-30 0.25
2016-06-30 0.39

*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 Wah Ha Realty will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Wah Ha Realty'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.
Wah Ha Realty 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 Wah Ha Realty 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 Wah Ha Realty'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.
  • Wah Ha Realty has delivered over 20% year on year earnings growth in the past 5 years.
  • Wah Ha Realty's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Wah Ha Realty's 1-year earnings growth is negative, it can't be compared to the HK Real Estate industry average.
Earnings and Revenue History
Wah Ha Realty'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 Wah Ha Realty Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:278 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 139.17 137.21 7.66
2018-12-31 129.93 201.33 7.53
2018-09-30 60.85 265.45 7.41
2018-06-30 57.23 262.20 7.36
2018-03-31 53.60 258.95 7.32
2017-12-31 22.82 199.76 7.18
2017-09-30 51.89 140.58 7.04
2017-06-30 54.08 108.96 6.94
2017-03-31 56.27 77.35 6.85
2016-12-31 56.03 53.51 6.93
2016-09-30 55.79 29.67 7.02
2016-06-30 69.69 47.53 7.01
2016-03-31 83.60 65.38 7.00
2015-12-31 87.61 91.80 6.80
2015-09-30 91.63 118.22 6.61
2015-06-30 72.70 98.33 6.50
2015-03-31 53.77 78.45 6.39
2014-12-31 45.73 53.59 6.35
2014-09-30 37.70 28.73 6.31
2014-06-30 42.30 36.93 6.22
2014-03-31 46.90 45.13 6.14
2013-12-31 50.78 66.88 6.01
2013-09-30 54.66 88.64 5.89
2013-06-30 49.42 100.93 5.81
2013-03-31 44.19 113.22 5.73
2012-12-31 38.04 122.12 5.44
2012-09-30 31.89 131.02 5.15

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Wah Ha Realty is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Wah Ha Realty's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Wah Ha Realty'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.
  • Low level of unsold assets.
  • Wah Ha Realty 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 Wah Ha Realty Company Filings, last reported 3 months ago.

SEHK:278 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,382.98 0.00 312.83
2018-12-31 1,382.98 0.00 312.83
2018-09-30 1,355.70 0.00 314.32
2018-06-30 1,355.70 0.00 314.32
2018-03-31 1,453.82 0.00 482.48
2017-12-31 1,453.82 0.00 482.48
2017-09-30 1,298.30 0.00 265.53
2017-06-30 1,298.30 0.00 265.53
2017-03-31 1,236.00 0.00 173.51
2016-12-31 1,236.00 0.00 173.51
2016-09-30 1,198.85 0.00 264.82
2016-06-30 1,198.85 0.00 264.82
2016-03-31 1,214.30 0.00 289.43
2015-12-31 1,214.30 0.00 289.43
2015-09-30 1,226.03 0.00 373.25
2015-06-30 1,226.03 0.00 373.25
2015-03-31 1,193.67 0.00 366.70
2014-12-31 1,193.67 0.00 366.70
2014-09-30 1,151.36 0.00 351.79
2014-06-30 1,151.36 0.00 351.79
2014-03-31 1,156.35 0.00 361.94
2013-12-31 1,156.35 0.00 361.94
2013-09-30 1,163.76 0.00 360.46
2013-06-30 1,163.76 0.00 360.46
2013-03-31 1,153.55 0.00 360.05
2012-12-31 1,153.55 0.00 360.05
2012-09-30 1,117.45 0.00 350.12
  • Wah Ha Realty has no debt.
  • Wah Ha Realty has not taken on any debt in the past 5 years.
  • Wah Ha Realty has no debt, it does not need to be covered by operating cash flow.
  • Wah Ha Realty has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Wah Ha Realty'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. Wah Ha Realty 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 Wah Ha Realty'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
4.12%
Current annual income from Wah Ha Realty dividends.
If you bought HK$2,000 of Wah Ha Realty shares you are expected to receive HK$82 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?
  • Wah Ha Realty's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Wah Ha Realty's dividend is below the markets top 25% of dividend payers in Hong Kong (5.74%).
Upcoming dividend payment

Purchase Wah Ha Realty before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:278 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 142 Stocks 4%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 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 5.7%

Industry and Market average data is calculated daily.

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

SEHK:278 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:278 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-06-27 0.340 4.018
2018-12-20 0.340 4.105
2018-11-29 0.340 4.441
2018-07-24 0.340 4.302
2018-06-26 0.340 3.887
2017-12-20 0.340 3.725
2017-11-29 0.340 3.865
2017-07-24 0.340 3.789
2017-06-29 0.340 3.754
2016-12-19 0.460 5.246
2016-11-25 0.460 5.674
2016-07-28 0.470 5.795
2016-06-29 0.470 5.889
2015-12-17 0.240 3.348
2015-11-27 0.240 3.229
2015-07-28 0.360 4.979
2015-06-29 0.360 5.023
2014-12-18 0.340 5.071
2014-11-27 0.340 5.907
2014-07-23 0.340 6.252
2014-06-26 0.340 6.287
2013-12-18 0.350 6.405
2013-11-28 0.350 6.311
2013-07-23 0.350 6.225
2013-06-28 0.350 6.140
2012-11-27 0.370 6.804
2012-06-28 0.350 7.310
2011-11-24 0.200 5.773
2011-06-28 0.160 5.208
2010-11-26 0.100 3.181
2010-07-19 0.080 2.729
2009-12-11 0.070 2.731
2009-07-13 0.060 2.720
2008-12-09 0.060 3.763

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 Wah Ha Realty's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.2x 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 Wah Ha Realty'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 Wah Ha Realty afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Wah Ha Realty 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 Wah Ha Realty'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.
  • Wah Ha Realty has no CEO, or we have no data on them.
Management Team

Kee Cheung

TITLE
Chairman
COMPENSATION
HK$420K
AGE
67

Lin Cheung

TITLE
Executive Director
COMPENSATION
HK$420K
AGE
61

Eric Cheung

TITLE
Head of General Management - the Group & Executive Director
COMPENSATION
HK$420K
AGE
57

Raymond Chu

TITLE
Chief Accountant & Company Secretary
AGE
57
Board of Directors Tenure

Average tenure and age of the Wah Ha Realty board of directors in years:

19.5
Average Tenure
67
Average Age
  • The average tenure for the Wah Ha Realty board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Kee Cheung

TITLE
Chairman
COMPENSATION
HK$420K
AGE
67
TENURE
19.5 yrs

Lin Cheung

TITLE
Executive Director
COMPENSATION
HK$420K
AGE
61
TENURE
34.5 yrs

Eric Cheung

TITLE
Head of General Management - the Group & Executive Director
COMPENSATION
HK$420K
AGE
57
TENURE
20.5 yrs

Keith Lam

TITLE
Independent Non-Executive Director
COMPENSATION
HK$120K
AGE
79
TENURE
26.5 yrs

Woon Chan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$120K
AGE
85
TENURE
15.5 yrs

Kwok Ng

TITLE
Non-Executive Director
COMPENSATION
HK$120K
AGE
68
TENURE
18.5 yrs

Peter Au-Yang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$120K
AGE
59
TENURE
4.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Wah Ha Realty'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. Wah Ha Realty 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

Should You Be Adding Wah Ha Realty (HKG:278) To Your Watchlist Today?

I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth. … You can take a look at the company's revenue and earnings growth trend, in the chart below. … You can't deny that Wah Ha Realty has grown its earnings per share at a very impressive rate.

Simply Wall St -

Do Insiders Own Shares In Wah Ha Realty Company Limited (HKG:278)?

It seems that insiders own more than half the Wah Ha Realty Company Limited stock. … Private Company Ownership It seems that Private Companies own 13%, of the 278 stock. … Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Simply Wall St -

Do You Like Wah Ha Realty Company Limited (HKG:278) At This P/E Ratio?

We'll look at Wah Ha Realty Company Limited's (HKG:278) P/E ratio and reflect on what it tells us about the company's share price. … Looking at earnings over the last twelve months, Wah Ha Realty has a P/E ratio of 3.87. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

These Fundamentals Make Wah Ha Realty Company Limited (HKG:278) Truly Worth Looking At

Wah Ha Realty Company Limited (HKG:278) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … is a company with great financial health as well as a.

Simply Wall St -

Should Wah Ha Realty Company Limited (HKG:278) Be Part Of Your Portfolio?

Historically, Wah Ha Realty Company Limited (HKG:278) has been paying a dividend to shareholders. … Does Wah Ha Realty tick all the boxes of a great dividend stock? … How I analyze a dividend stock

Simply Wall St -

Could Wah Ha Realty Company Limited's (HKG:278) Investor Composition Influence The Stock Price?

A look at the shareholders of Wah Ha Realty Company Limited (HKG:278) can tell us which group is most powerful. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … With a market capitalization of HK$980m, Wah Ha Realty is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

Here's What Wah Ha Realty Company Limited's (HKG:278) P/E Ratio Is Telling Us

We'll show how you can use Wah Ha Realty Company Limited's (HKG:278) P/E ratio to inform your assessment of the investment opportunity. … Wah Ha Realty has a P/E ratio of 3.65, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What Investors Should Know About Wah Ha Realty Company Limited's (HKG:278) Financial Strength

However, it also faces higher cost of capital given interest cost is generally lower than equity. … Zero-debt can alleviate some risk associated with the company meeting debt obligations, but this doesn’t automatically mean 278 has outstanding financial strength. … Is 278 growing fast enough to value financial flexibility over lower cost of capital.

Simply Wall St -

Is Wah Ha Realty Company Limited (HKG:278) A Smart Pick For Income Investors?

Historically, Wah Ha Realty Company Limited (HKG:278) has been paying a dividend to shareholders. … Let's dig deeper into whether Wah Ha Realty should have a place in your portfolio. … View our latest analysis for Wah Ha Realty

Simply Wall St -

Does Wah Ha Realty Company Limited's (HKG:278) PE Ratio Signal A Buying Opportunity?

and want to begin learning about how to value company based on its current earnings and what are the drawbacks of this method. … Wah Ha Realty Company Limited (HKG:278) is trading with a trailing P/E of 3.7, which is lower than the industry average of 5.2. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio

Simply Wall St -

Company Info

Description

Wah Ha Realty Company Limited, an investment holding company, invests in, develops, and manages properties in Hong Kong. The company’s principal properties comprise commercial/shopping arcades, industrial/godowns, and residential properties. It also operates as a building contractor and property agent. Wah Ha Realty Company Limited is based in Wanchai, Hong Kong.

Details
Name: Wah Ha Realty Company Limited
278
Exchange: SEHK
Founded:
HK$997,920,000
120,960,000
Website: http://www.wahha.com
Address: Wah Ha Realty Company Limited
Dominion Centre,
Room 2500,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 278 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
20
Wah Ha Realty employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 12:36
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2018/06/26
Last earnings filing: 2019/06/27
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


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.