SEHK:8473

Stock Analysis Report

Mi Ming Mart Holdings

Executive Summary

Mi Ming Mart Holdings Limited, an investment holding company, engages in the retail of multi-brand beauty and health products in Hong Kong.

Snowflake

Fundamentals

Flawless balance sheet with outstanding track record.

Share Price & News

How has Mi Ming Mart Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 8473 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-7.8%

8473

-2.0%

HK Specialty Retail

-1.9%

HK Market


1 Year Return

2.6%

8473

8.1%

HK Specialty Retail

1.0%

HK Market

Return vs Industry: 8473 underperformed the Hong Kong Specialty Retail industry which returned 8.1% over the past year.

Return vs Market: 8473 matched the Hong Kong Market which returned 1% over the past year.


Shareholder returns

8473IndustryMarket
7 Day-7.8%-2.0%-1.9%
30 Day-19.0%3.9%2.3%
90 Day-2.1%6.8%7.4%
1 Year8.8%2.6%14.0%8.1%4.7%1.0%
3 Yearn/a28.1%13.3%22.6%10.3%
5 Yearn/a-2.7%-21.9%21.5%1.3%

Price Volatility Vs. Market

How volatile is Mi Ming Mart Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Mi Ming Mart Holdings 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: 8473 (HK$0.24) is trading below our estimate of fair value (HK$2.25)

Significantly Below Fair Value: 8473 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 8473 is good value based on its PE Ratio (11.2x) compared to the Specialty Retail industry average (12.4x).

PE vs Market: 8473 is poor value based on its PE Ratio (11.2x) compared to the Hong Kong market (10.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 8473's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 8473 is overvalued based on its PB Ratio (2.3x) compared to the HK Specialty Retail industry average (0.9x).


Next Steps

Future Growth

How is Mi Ming Mart Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-12.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8473's earnings are forecast to decline over the next 3 years (-12.1% per year).

Earnings vs Market: 8473's earnings are forecast to decline over the next 3 years (-12.1% per year).

High Growth Earnings: 8473's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if 8473's revenue is forecast to grow faster than the Hong Kong market.

High Growth Revenue: Insufficient data to determine if 8473's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 8473's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Mi Ming Mart Holdings performed over the past 5 years?

23.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 8473 has high quality earnings.

Growing Profit Margin: 8473's current net profit margins (15.6%) are higher than last year (8.1%).


Past Earnings Growth Analysis

Earnings Trend: 8473's earnings have grown significantly by 23.7% per year over the past 5 years.

Accelerating Growth: 8473's earnings growth over the past year (112.5%) exceeds its 5-year average (23.7% per year).

Earnings vs Industry: 8473 earnings growth over the past year (112.5%) exceeded the Specialty Retail industry 1.5%.


Return on Equity

High ROE: 8473's Return on Equity (20.3%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Mi Ming Mart Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 8473's short term assets (HK$90.5M) exceeds its short term liabilities (HK$22.6M)

Long Term Liabilities: 8473's short term assets (90.5M) exceeds its long term liabilities (4.0M)


Debt to Equity History and Analysis

Debt Level: 8473 is debt free.

Reducing Debt: 8473 had no debt 5 years ago.

Debt Coverage: 8473 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 8473 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: 8473 has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if 8473's debt is covered by short term assets.


Next Steps

Dividend

What is Mi Ming Mart Holdings's current dividend yield, its reliability and sustainability?

5.11%

Current Dividend Yield


Dividend Yield vs Market

company5.1%marketbottom25%2.2%markettop25%6.3%industryaverage5.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: 8473's dividend (5.11%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.19%).

High Dividend: 8473's dividend (5.11%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.28%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether 8473's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if 8473's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.5%), 8473's dividend payments are well covered by earnings.


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

What is the CEO of Mi Ming Mart Holdings's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

Erica Yuen (38yo)

2.8yrs

Tenure

HK$2,268,000

Compensation

Ms. Mi-Ming Yuen, also known as Erica, has been Chairlady & Chief Executive Officer of Mi Ming Mart Holdings Limited since January 11, 2017 and also has been its Director since November 4, 2016. Ms. Yuen i ...


CEO Compensation Analysis

Compensation vs Market: Erica's total compensation ($USD289.77K) is above average for companies of similar size in the Hong Kong market ($USD216.22K).

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


Management Age and Tenure

2.8yrs

Average Tenure

39.5yo

Average Age

Experienced Management: 8473's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

2.8yrs

Average Tenure

42yo

Average Age

Experienced Board: 8473's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


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

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.8%.


Management Team

  • Erica Yuen (38yo)

    Chairlady & CEO

    • Tenure: 2.8yrs
    • Compensation: HK$2.27m
  • Mimi Yuen (46yo)

    Executive Director & Compliance Officer

    • Tenure: 2.9yrs
    • Compensation: HK$2.27m
  • Man Dic Ho (41yo)

    Head of Logistics Department

    • Tenure: 2.5yrs
  • Yau Kwan Mak (32yo)

    Company Secretary & Financial Controller

    • Tenure: 2.8yrs

Board Members

  • Wing Yee Tsang (47yo)

    Independent Non-Executive Director

    • Tenure: 1.8yrs
    • Compensation: HK$180.00k
  • Erica Yuen (38yo)

    Chairlady & CEO

    • Tenure: 2.8yrs
    • Compensation: HK$2.27m
  • Mimi Yuen (46yo)

    Executive Director & Compliance Officer

    • Tenure: 2.9yrs
    • Compensation: HK$2.27m
  • Anthony Lam (42yo)

    Non-Executive Director

    • Tenure: 2.8yrs
    • Compensation: HK$120.00k
  • Ronald Cheung (39yo)

    Non-Executive Director

    • Tenure: 2.8yrs
    • Compensation: HK$120.00k
  • Celine Chan (39yo)

    Independent Non-Executive Director

    • Tenure: 1.8yrs
    • Compensation: HK$120.00k
  • Wai Sze Shum (43yo)

    Independent Non-Executive Director

    • Tenure: 1.8yrs
    • Compensation: HK$120.00k

Company Information

Mi Ming Mart Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Mi Ming Mart Holdings Limited
  • Ticker: 8473
  • Exchange: SEHK
  • Founded: 2016
  • Industry: Specialty Stores
  • Sector: Retail
  • Market Cap: HK$268.800m
  • Shares outstanding: 1.12b
  • Website: https://www.mimingmart.com

Number of Employees


Location

  • Mi Ming Mart Holdings Limited
  • Guangdong Tours Centre
  • 16th Floor
  • Causeway Bay
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
8473SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDFeb 2018

Biography

Mi Ming Mart Holdings Limited, an investment holding company, engages in the retail of multi-brand beauty and health products in Hong Kong. The company’s products include skincare products, cosmetic produc ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/13 13:02
End of Day Share Price2019/11/13 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.