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Meituan Dianping

SEHK:3690
Snowflake Description

High growth potential with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3690
SEHK
HK$353B
Market Cap
  1. Home
  2. HK
  3. Retail
Company description

Meituan Dianping, an investment holding company, provides an e-commerce platform that uses technology to connect consumers and merchants. The last earnings update was 40 days ago. More info.


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3690 Share Price and Events
7 Day Returns
3.7%
SEHK:3690
2.1%
HK Online Retail
-3.5%
HK Market
1 Year Returns
-
SEHK:3690
-43.9%
HK Online Retail
-16.8%
HK Market
3690 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Meituan Dianping (3690) 3.7% 9.5% 6.5% - - -
HK Online Retail 2.1% 5.5% 8% -43.9% -72.5% -71.1%
HK Market -3.5% -9.6% -4.2% -16.8% 24.6% 7.2%
1 Year Return vs Industry and Market
  • No trading data on 3690.
  • No trading data on 3690.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Meituan Dianping 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 Meituan Dianping 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 Meituan Dianping.

SEHK:3690 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.6%
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:3690
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Online Retail Unlevered Beta Simply Wall St/ S&P Global 1.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.662 (1 + (1- 25%) (0.73%))
1.45
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.45
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.45 * 5.96%)
10.64%

Discounted Cash Flow Calculation for SEHK:3690 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Meituan Dianping 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:3690 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.64%)
2019 -4,953.33 Analyst x3 -4,476.88
2020 8,997.00 Analyst x2 7,349.43
2021 9,110.33 Analyst x3 6,726.17
2022 20,213.00 Analyst x1 13,487.84
2023 21,204.00 Analyst x1 12,788.14
2024 22,042.18 Est @ 3.95% 12,014.96
2025 22,784.56 Est @ 3.37% 11,225.00
2026 23,458.63 Est @ 2.96% 10,445.43
2027 24,085.41 Est @ 2.67% 9,692.94
2028 24,680.61 Est @ 2.47% 8,977.08
Present value of next 10 years cash flows CN¥88,230.11
SEHK:3690 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥24,680.61 × (1 + 2%) ÷ (10.64% – 2%)
CN¥291,392.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥291,392.98 ÷ (1 + 10.64%)10
CN¥105,988.43
SEHK:3690 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥88,230.11 + CN¥105,988.43
CN¥194,218.54
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥194,218.54 / 5,742.50
CN¥33.82
SEHK:3690 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3690)
1.136
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥33.82 x 1.136
HK$38.41
Value per share (HKD) From above. HK$38.41
Current discount Discount to share price of HK$60.45
= -1 x (HK$60.45 - HK$38.41) / HK$38.41
-57.4%

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

  • The current share price of Meituan Dianping 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 Meituan Dianping's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Meituan Dianping's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:3690 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥-42.40
SEHK:3690 Share Price ** SEHK (2019-05-21) in HKD HK$60.45
SEHK:3690 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥53.23
Asia Online Retail Industry PE Ratio Median Figure of 7 Publicly-Listed Online Retail Companies 34.11x
Hong Kong Market PE Ratio Median Figure of 1,477 Publicly-Listed Companies 11.08x

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

** Primary Listing of Meituan Dianping.

SEHK:3690 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3690 Share Price ÷ EPS (both in CNY)

= 53.23 ÷ -42.40

-1.26x

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

  • Meituan Dianping is loss making, we can't compare its value to the Asia Online Retail industry average.
  • Meituan Dianping is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does Meituan Dianping's expected growth come at a high price?
Raw Data
SEHK:3690 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
100.7%per year
Global Online Retail Industry PEG Ratio Median Figure of 43 Publicly-Listed Online Retail Companies 1.84x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.79x

*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 Meituan Dianping, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Meituan Dianping's assets?
Raw Data
SEHK:3690 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥15.10
SEHK:3690 Share Price * SEHK (2019-05-21) in HKD HK$60.45
SEHK:3690 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥53.23
Hong Kong Online Retail Industry PB Ratio Median Figure of 8 Publicly-Listed Online Retail Companies 1.67x
Hong Kong Market PB Ratio Median Figure of 2,156 Publicly-Listed Companies 0.97x
SEHK:3690 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3690 Share Price ÷ Book Value per Share (both in CNY)

= 53.23 ÷ 15.10

3.52x

* Primary Listing of Meituan Dianping.

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

  • Meituan Dianping is overvalued based on assets compared to the HK Online Retail industry average.
X
Value checks
We assess Meituan Dianping'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 Online Retail 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 Online Retail industry average (and greater than 0)? (1 check)
  5. Meituan Dianping has a total score of 0/6, 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 Meituan Dianping expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

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
100.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Meituan Dianping expected to grow at an attractive rate?
  • Meituan Dianping's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Meituan Dianping's earnings growth is expected to exceed the Hong Kong market average.
  • Meituan Dianping's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:3690 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:3690 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 100.7%
SEHK:3690 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 28.5%
Hong Kong Online Retail Industry Earnings Growth Rate Market Cap Weighted Average 98%
Global Online Retail Industry Revenue Growth Rate Market Cap Weighted Average 16.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -5.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.7%

*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:3690 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:3690 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 160,782 19,024 5,416 9
2020-12-31 123,244 13,861 319 14
2019-12-31 91,834 1,302 -8,803 14
SEHK:3690 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 65,227 -9,180 -115,477
2018-09-30 55,899 -114,213
2018-06-30 46,497 -4,381 -35,270
2018-03-31 40,212 -2,346 -27,093
2017-12-31 33,928 -310 -18,917
2016-12-31 12,988 -1,918 -10,894

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Meituan Dianping's earnings are expected to grow significantly at over 20% yearly.
  • Meituan Dianping's revenue is expected to grow significantly at over 20% yearly.
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:3690 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Meituan Dianping Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3690 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.89 1.16 0.67 3.00
2020-12-31 0.63 0.71 0.55 2.00
2019-12-31 -1.32 -0.54 -1.63 7.00
SEHK:3690 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 -42.40
2018-09-30
2018-06-30 -22.76
2018-03-31 -17.60
2017-12-31 -12.37
2016-12-31 -7.50

*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.
  • Meituan Dianping is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Meituan Dianping'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 Global 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.
Meituan Dianping has a total score of 5/6, 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 Meituan Dianping 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 Meituan Dianping's growth in the last year to its industry (Online Retail).
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.
  • Meituan Dianping does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Meituan Dianping's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Meituan Dianping's 1-year growth to the Asia Online Retail industry average as it is not currently profitable.
Earnings and Revenue History
Meituan Dianping'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 Meituan Dianping Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:3690 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 65,227.28 -115,477.17 19,998.80 7,071.90
2018-09-30 55,899.20 -114,213.31 18,370.92 6,239.38
2018-06-30 46,497.00 -35,269.96 16,134.53 5,262.87
2018-03-31 40,212.49 -27,093.29 14,493.21 4,454.75
2017-12-31 33,927.99 -18,916.62 13,068.10 3,646.63
2016-12-31 12,988.08 -10,893.90 9,817.59 2,366.67
2015-12-31 4,018.96 -9,231.08 10,020.05 1,204.03

*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.
  • It is difficult to establish if Meituan Dianping has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Meituan Dianping has efficiently used its assets last year compared to the Asia Online Retail industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Meituan Dianping improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Meituan Dianping'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 Online Retail 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.
Meituan Dianping has a total score of 0/6, 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 Meituan Dianping'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 Meituan Dianping's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Meituan Dianping is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Meituan Dianping's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Meituan Dianping'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.
  • Debt is covered by short term assets, assets are 32.2x debt.
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 Meituan Dianping Company Filings, last reported 4 months ago.

SEHK:3690 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 86,509.77 2,270.06 59,029.48
2018-09-30 89,432.52 1,545.00 59,632.67
2018-06-30 -72,313.89 136,234.86 34,330.56
2018-03-31 -72,313.89 136,234.86 34,330.56
2017-12-31 -40,501.38 101,580.29 45,355.40
2016-12-31 -25,575.35 63,688.01 22,085.15
2015-12-31 -17,669.67 49,874.22 17,790.42
  • Meituan Dianping's level of debt (2.6%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Meituan Dianping's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Meituan Dianping has sufficient cash runway for more than 3 years based on current free cash flow.
  • Meituan Dianping has sufficient cash runway for more than 3 years if free cash flow continues to grow at historical rates of 35.4% each year.
X
Financial health checks
We assess Meituan Dianping'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. Meituan Dianping has a total score of 5/6, 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 Meituan Dianping'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
0%
Current annual income from Meituan Dianping dividends. Estimated to be 0% next year.
If you bought HK$2,000 of Meituan Dianping shares you are expected to receive HK$0 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?
  • Unable to evaluate Meituan Dianping's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Meituan Dianping's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:3690 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 14 Analyst Estimates (S&P Global) See Below
Global Online Retail Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 1.6%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 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 5.8%

Industry and Market average data is calculated daily.

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

SEHK:3690 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 4.00
2020-12-31 0.00 5.00
2019-12-31 0.00 6.00

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

  • Unable to perform a dividend volatility check as Meituan Dianping has not reported any payouts.
  • Unable to verify if Meituan Dianping's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Meituan Dianping's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Meituan Dianping has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Meituan Dianping's dividends in 3 years as they are not expected to pay a notable one for Hong Kong.
X
Income/ dividend checks
We assess Meituan Dianping'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 Meituan Dianping afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Meituan Dianping has a total score of 0/6, 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 Meituan Dianping'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.
CEO
Xing Wang
COMPENSATION CN¥4,693,000
AGE 39
CEO Bio

Mr. Xing Wang is the Chief Executive Officer and Co-founder at China Internet Plus Group. Prior to this, Mr. Wang was employed at Xiaonei.com in the position of Chief Executive Officer. He serves as Co-Founder, Executive Director, Chief Executive Officer & Chairman of the Board at Meituan Dianping.

CEO Compensation
  • Xing's compensation has increased whilst company is loss making.
  • Xing's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Xing Wang

TITLE
Co-Founder
COMPENSATION
CN¥5M
AGE
39

Rongjun Mu

TITLE
Co-Founder
COMPENSATION
CN¥39M
AGE
38

Huiwen Wang

TITLE
Co-Founder
COMPENSATION
CN¥143M
AGE
39

Zhang Tao

TITLE
Co-founder
COMPENSATION
CN¥2M
AGE
45

Sean Chen

TITLE
CFO & Senior VP
AGE
36

Liang Chen

TITLE
Senior Vice President
AGE
37

Chuan Zhang

TITLE
Senior Vice President
AGE
42

Yixiang Wang

TITLE
Joint Company Secretary

Yee Lau

TITLE
Joint Company Secretary
Board of Directors Tenure

Average tenure and age of the Meituan Dianping board of directors in years:

1.6
Average Tenure
46.5
Average Age
  • The average tenure for the Meituan Dianping board of directors is less than 3 years, this suggests a new board.
Board of Directors

Xing Wang

TITLE
Co-Founder
COMPENSATION
CN¥5M
AGE
39

Rongjun Mu

TITLE
Co-Founder
COMPENSATION
CN¥39M
AGE
38

Huiwen Wang

TITLE
Co-Founder
COMPENSATION
CN¥143M
AGE
39

Jeff Leng

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥742K
AGE
48
TENURE
0.8 yrs

Gordon Robert-Halyburton Orr

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥742K
AGE
56

Harry Shum

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥742K
AGE
51

Martin Lau

TITLE
Non-Executive Director
AGE
45
TENURE
1.6 yrs

Nanpeng Neil

TITLE
Non-Executive Director
AGE
50
TENURE
3.6 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 Meituan Dianping'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. Meituan Dianping 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

Can We See Significant Insider Ownership On The Meituan Dianping (HKG:3690) Share Register?

If you want to know who really controls Meituan Dianping (HKG:3690), then you'll have to look at the makeup of its share registry. … Generally speaking, as a company grows, institutions will increase their ownership. … Check out our latest analysis for Meituan Dianping

Simply Wall St -

Has Meituan Dianping (HKG:3690) Got Enough Cash?

Common characteristics for these big stocks are their strong balance sheet and high liquidity, which means there's plenty of stocks available to the public for trading. … These firms won’t be left high and dry if liquidity dries up, and they will be relatively unaffected by rises in interest rates. … Assessing the most recent data for 3690, I will take you through the key ratios to measure financial health, in particular, its solvency and liquidity.

Simply Wall St -

Meituan Dianping (HKG:3690): When Will It Breakeven?

Meituan Dianping operates a multi-category service e-commerce platform that connects consumers and merchants. … The company’s loss has recently broadened since it announced a -CN¥18.9b loss in the full financial year, compared to the latest trailing-twelve-month loss of -CN¥114.2b, moving it further away from breakeven. … See our latest analysis for Meituan Dianping

Simply Wall St -

Can We See Significant Insider Ownership On The Meituan Dianping (HKG:3690) Share Register?

We'd expect to see both institutions and retail investors owning a portion of the company. … Our analysis of the ownership of the company, below, shows that. … View our latest analysis for Meituan Dianping

Simply Wall St -

Company Info

Description

Meituan Dianping, an investment holding company, provides an e-commerce platform that uses technology to connect consumers and merchants. It operates through Food Delivery; In-store, Hotel & Travel; and New Initiatives and Others segments. The Food Delivery segment offers food ordering and delivery service through its platform. The In-Store, Hotel & Travel segment enables merchants to sell vouchers, coupons, tickets, and reservations through the company’s platform. The New Initiatives and Others segment offers restaurant management system, supply chain, integrated payment, micro loan, local transportation, non-food delivery, and other products and services, as well as pilot car-hailing and bike-sharing services. The company also offers multimedia information technology, cloud computing, merchant information advisory, and online payment and marketing services. The company was formerly known as Internet Plus Holdings Ltd. and changed its name to Meituan Dianping in June 2018. Meituan Dianping was founded in 2003 and is headquartered in Beijing, China.

Details
Name: Meituan Dianping
3690
Exchange: SEHK
Founded: 2003
HK$352,876,710,046
5,742,501,384
Website: http://www.meituan.com
Address: Meituan Dianping
Hengjiweiye Building,
Block B&C,
Beijing,
100102,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3690 Class B Shares The Stock Exchange of Hong Kong Ltd. HK HKD 20. Sep 2018
OTCPK MPNG.F Class B Shares Pink Sheets LLC US USD 20. Sep 2018
DB 9MD Class B Shares Deutsche Boerse AG DE EUR 20. Sep 2018
Number of employees
Current staff
Staff numbers
58,390
Meituan Dianping employees.
Industry
Internet and Direct Marketing Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 13:08
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/04/11
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.