SEHK:459

Stock Analysis Report

Executive Summary

Midland IC&I Limited, an investment holding company, provides property agency services for commercial and industrial properties, and shops in Hong Kong.

Snowflake

Fundamentals

Adequate balance sheet with moderate growth potential.

Share Price & News

How has Midland IC&I's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

9.2%

459

5.3%

HK Real Estate

3.3%

HK Market


1 Year Return

-41.7%

459

12.5%

HK Real Estate

1.6%

HK Market

Return vs Industry: 459 underperformed the Hong Kong Real Estate industry which returned 12.5% over the past year.

Return vs Market: 459 underperformed the Hong Kong Market which returned 1.6% over the past year.


Shareholder returns

459IndustryMarket
7 Day9.2%5.3%3.3%
30 Day0.8%2.9%-0.009%
90 Day-22.2%-9.1%-5.1%
1 Year-41.7%-41.7%16.8%12.5%5.3%1.6%
3 Year-70.5%-70.5%40.6%25.9%16.1%4.4%
5 Year-69.0%-69.0%62.1%36.0%20.4%0.3%

Price Volatility Vs. Market

How volatile is Midland IC&I's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Midland IC&I undervalued compared to its fair value and its price relative to the market?

12.21x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: Insufficient data to calculate 459's fair value to establish if it is undervalued.

Significantly Undervalued: Insufficient data to calculate 459's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 459 is poor value based on its PE Ratio (12.2x) compared to the Real Estate industry average (6.2x).

PE vs Market: 459 is poor value based on its PE Ratio (12.2x) compared to the Hong Kong market (10.4x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate 459's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 459 is good value based on its PB Ratio (0.2x) compared to the HK Real Estate industry average (0.5x).


Next Steps

Future Growth

How is Midland IC&I forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

24.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 459's forecast earnings growth (24.8% per year) is above the savings rate (2%).

Earnings vs Market: 459's earnings (24.8% per year) are forecast to grow faster than the Hong Kong market (11.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if 459's revenue is forecast to grow faster than the Hong Kong market.

High Growth Revenue: Insufficient data to determine if 459's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if 459's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Midland IC&I performed over the past 5 years?

24.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 459's earnings have grown significantly by 24.9% per year over the past 5 years.

Accelerating Growth: 459's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 459 had negative earnings growth (-79.8%) over the past year, making it difficult to compare to the Real Estate industry average (-12.4%).


Return on Equity

High ROE: 459's Return on Equity (1.7%) is considered low.


Return on Assets

ROA vs Industry: 459's Return on Assets is below or equal to the Real Estate industry average last year.


Return on Capital Employed

ROCE Improving: 459's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Midland IC&I's financial position?


Financial Position Analysis

Short Term Liabilities: 459's short term assets (HK$851.9M) exceeds its short term liabilities (HK$307.4M)

Long Term Liabilities: 459's short term assets (851.9M) exceeds its long term liabilities (336.7M)


Debt to Equity History and Analysis

Debt Level: 459's debt to equity ratio (28.2%) is considered satisfactory

Reducing Debt: 459's debt to equity ratio has increased from 1.4% to 28.2% over the past 5 years.

Debt Coverage: 459's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 459's interest payments on its debt are well covered by EBIT (9.3x coverage).


Balance Sheet

Inventory Level: 459 has a low level of unsold assets or inventory.

Debt Coverage by Assets: 459's debt is covered by short term assets (assets are 2.653680x debt).


Next Steps

  • Explore more healthy companies in the Real Estate industry.

Dividend

What is Midland IC&I's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.3%markettop25%6.3%industryaverage4.4%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate 459's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 459's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if 459's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 459's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 459's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

What is the CEO of Midland IC&I's salary, the management and board of directors tenure and is there insider trading?

7.8yrs

Average management tenure


CEO

Daniel Wong (55yo)

7.8yrs

Tenure

HK$4,705,000

Compensation

Mr. Hon Shing Wong, also known as Daniel has been the Chief Executive Officer at Midland IC&I Limited since December 15, 2011. Mr. Wong served as Chief Operation Officer of the Industrial Commercial and Sh ...


CEO Compensation Analysis

Compensation vs. Market: Daniel's total compensation ($USD599.76K) is about average for companies of similar size in the Hong Kong market ($USD211.62K).

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


Management Age and Tenure

7.8yrs

Average Tenure

52yo

Average Age

Experienced Management: 459's management team is seasoned and experienced (7.8 years average tenure).


Board Age and Tenure

11.1yrs

Average Tenure

55.5yo

Average Age

Experienced Board: 459's board of directors are seasoned and experienced ( 11.1 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Kin Chan (48yo)

    Chief Technical Officer

    • Tenure: 0yrs
  • Metty Tang (63yo)

    Executive Director

    • Tenure: 11.1yrs
    • Compensation: HK$388.00k
  • Angela Wong (38yo)

    Executive Director

    • Tenure: 7.8yrs
    • Compensation: HK$996.00k
  • Daniel Wong (55yo)

    CEO & Executive Director

    • Tenure: 7.8yrs
    • Compensation: HK$4.71m
  • Joel Mui

    Company Secretary

    • Tenure: 6.8yrs
  • Eric Ong (52yo)

    Chief Operating Officer

    • Tenure: 0yrs
  • Ka Sze

    Chief Financial Officer

    • Tenure: 0yrs

Board Members

  • Brian Tsang (56yo)

    Non-Executive Director

    • Tenure: 14.6yrs
    • Compensation: HK$120.00k
  • Kam Shing Cheung (55yo)

    Director of Midland Holdings

    • Tenure: 0yrs
  • Tony Kan (68yo)

    Chairman of the Board

    • Tenure: 3yrs
    • Compensation: HK$320.00k
  • Ted Ho (54yo)

    Independent Non Executive Director

    • Tenure: 11.8yrs
    • Compensation: HK$120.00k
  • William Ying (68yo)

    Independent Non-Executive Director

    • Tenure: 14.4yrs
    • Compensation: HK$120.00k
  • Metty Tang (63yo)

    Executive Director

    • Tenure: 11.1yrs
    • Compensation: HK$388.00k
  • Eric Sha (61yo)

    Independent Non Executive Director

    • Tenure: 13.6yrs
    • Compensation: HK$120.00k
  • Angela Wong (38yo)

    Executive Director

    • Tenure: 7.8yrs
    • Compensation: HK$996.00k
  • Daniel Wong (55yo)

    CEO & Executive Director

    • Tenure: 7.8yrs
    • Compensation: HK$4.71m
  • Wai Wong (48yo)

    Alternate Director

    • Tenure: 0.3yrs

Company Information

Midland IC&I Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Midland IC&I Limited
  • Ticker: 459
  • Exchange: SEHK
  • Founded:
  • Industry: Real Estate Services
  • Sector: Real Estate
  • Market Cap: HK$231.076m
  • Shares outstanding: 1.81b
  • Website: https://www.midlandici.com.hk

Number of Employees


Location

  • Midland IC&I Limited
  • World-Wide House
  • Rooms 2505-8
  • Central
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
459SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDMar 2001

Biography

Midland IC&I Limited, an investment holding company, provides property agency services for commercial and industrial properties, and shops in Hong Kong. It is also involved in the property investment, surv ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/17 12:37
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.