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3690

MeituanSEHK:3690 Stock Report

Market Cap

HK$1.5t

7D

0.7%

1Y

4.6%

Updated

23 Sep, 2021

Data

Company Financials +
3690 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance0/6
Financial Health4/6
Dividends0/6

3690 Overview

Meituan, an investment holding company, provides an e-commerce platform that uses technology to connect consumers and merchants.

Meituan Competitors

Tencent Holdings

SEHK:700

HK$4.4t

Airbnb

NasdaqGS:ABNB

US$105.3b

Recruit Holdings

TSE:6098

JP¥11.4t

Booking Holdings

NasdaqGS:BKNG

US$98.8b

Price History & Performance

Summary of all time highs, changes and price drops for Meituan
Historical stock prices
Current Share PriceHK$242.60
52 Week HighHK$183.20
52 Week LowHK$460.00
Beta0.99
1 Month Change6.87%
3 Month Change-26.48%
1 Year Change4.57%
3 Year Change252.87%
5 Year Changen/a
Change since IPO233.93%

Recent News & Updates

Jun 11
Does Meituan (HKG:3690) Have A Healthy Balance Sheet?

Does Meituan (HKG:3690) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

3690HK Online RetailHK Market
7D0.7%-0.2%-0.9%
1Y4.6%3.5%10.1%

Return vs Industry: 3690 exceeded the Hong Kong Online Retail industry which returned -8.5% over the past year.

Return vs Market: 3690 underperformed the Hong Kong Market which returned 5.6% over the past year.

Price Volatility

Is 3690's price volatile compared to industry and market?
3690 volatility
3690 Beta0.99
Industry Beta0.99
Market Beta1

Stable Share Price: 3690 is more volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: 3690's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of Hong Kong stocks.

About the Company

FoundedEmployeesCEOWebsite
200369,205Xing Wanghttps://about.meituan.com

Meituan, 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.

Meituan Fundamentals Summary

How do Meituan's earnings and revenue compare to its market cap?
3690 fundamental statistics
Market CapCN¥1.23t
Earnings (TTM)-CN¥4.13b
Revenue (TTM)CN¥153.11b

8.1x

P/S Ratio

-299.2x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
3690 income statement (TTM)
RevenueCN¥153.11b
Cost of RevenueCN¥114.10b
Gross ProfitCN¥39.00b
ExpensesCN¥43.13b
Earnings-CN¥4.13b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.70
Gross Margin25.48%
Net Profit Margin-2.70%
Debt/Equity Ratio36.9%

How did 3690 perform over the long term?

See historical performance and comparison

Valuation

Is Meituan undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 3690 (HK$242.6) is trading below our estimate of fair value (HK$973.99)

Significantly Below Fair Value: 3690 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 3690 is unprofitable, so we can't compare its PE Ratio to the Hong Kong Online Retail industry average.

PE vs Market: 3690 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 3690's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 3690 is overvalued based on its PB Ratio (9.2x) compared to the HK Online Retail industry average (2.4x).


Future Growth

How is Meituan forecast to perform in the next 1 to 3 years based on estimates from 39 analysts?

72.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3690 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.5%).

Earnings vs Market: 3690 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 3690's is expected to become profitable in the next 3 years.

Revenue vs Market: 3690's revenue (24.5% per year) is forecast to grow faster than the Hong Kong market (12.3% per year).

High Growth Revenue: 3690's revenue (24.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 3690's Return on Equity is forecast to be low in 3 years time (17.3%).


Past Performance

How has Meituan performed over the past 5 years?

43.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 3690 is currently unprofitable.

Growing Profit Margin: 3690 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 3690 is unprofitable, but has reduced losses over the past 5 years at a rate of 43% per year.

Accelerating Growth: Unable to compare 3690's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 3690 is unprofitable, making it difficult to compare its past year earnings growth to the Online Retail industry (51.5%).


Return on Equity

High ROE: 3690 has a negative Return on Equity (-3.06%), as it is currently unprofitable.


Financial Health

How is Meituan's financial position?


Financial Position Analysis

Short Term Liabilities: 3690's short term assets (CN¥152.8B) exceed its short term liabilities (CN¥61.1B).

Long Term Liabilities: 3690's short term assets (CN¥152.8B) exceed its long term liabilities (CN¥41.2B).


Debt to Equity History and Analysis

Debt Level: 3690's debt to equity ratio (36.9%) is considered satisfactory.

Reducing Debt: 3690 had negative shareholder equity 5 years ago, but is now positive and has therefore improved.


Balance Sheet


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.

Stable Cash Runway: Insufficient data to determine if 3690 has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if 3690 has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Dividend

What is Meituan current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 3690's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 3690's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 3690's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 3690'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 3690's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

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

3.9yrs

Average board tenure


CEO

Xing Wang (42 yo)

no data

Tenure

CN¥5,190,000

Compensation

Mr. Xing Wang has been a Director of Li Auto Inc. since July 2019. Mr. Wang is a co-founder, chief executive officer and chairman of Meituan, the leading e-commerce platform for services in China listed on...


CEO Compensation Analysis

Compensation vs Market: Xing's total compensation ($USD803.12K) is about average for companies of similar size in the Hong Kong market ($USD1.02M).

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


Board Members

Experienced Board: 3690's board of directors are considered experienced (3.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: 3690 insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.3%.


Top Shareholders

Company Information

Meituan's employee growth, exchange listings and data sources


Key Information

  • Name: Meituan
  • Ticker: 3690
  • Exchange: SEHK
  • Founded: 2003
  • Industry: Internet and Direct Marketing Retail
  • Sector: Retail
  • Market Cap: HK$1.488t
  • Shares outstanding: 6.13b
  • Website: https://about.meituan.com

Number of Employees


Location

  • Meituan
  • Hengjiweiye Building
  • Block B&C
  • Beijing
  • 100102
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/23 16:03
End of Day Share Price2021/09/23 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.