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Henderson Investment SEHK:97 Stock Report

Last Price


Market Cap







28 Sep, 2022


Company Financials
97 fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance0/6
Financial Health4/6

97 Stock Overview

Henderson Investment Limited, an investment holding company, engages in the operation of department stores in Hong Kong.

Henderson Investment Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Henderson Investment
Historical stock prices
Current Share PriceHK$0.29
52 Week HighHK$0.41
52 Week LowHK$0.29
1 Month Change-9.23%
3 Month Change-13.24%
1 Year Change-14.49%
3 Year Change-53.91%
5 Year Change-56.62%
Change since IPO-88.20%

Recent News & Updates

Aug 25
Henderson Investment's (HKG:97) Dividend Will Be HK$0.01

Henderson Investment's (HKG:97) Dividend Will Be HK$0.01

The board of Henderson Investment Limited ( HKG:97 ) has announced that it will pay a dividend of HK$0.01 per share on...

Jun 02
Henderson Investment's (HKG:97) Dividend Will Be HK$0.01

Henderson Investment's (HKG:97) Dividend Will Be HK$0.01

Henderson Investment Limited ( HKG:97 ) has announced that it will pay a dividend of HK$0.01 per share on the 16th of...

Shareholder Returns

97HK Multiline RetailHK Market

Return vs Industry: 97 exceeded the Hong Kong Multiline Retail industry which returned -26.1% over the past year.

Return vs Market: 97 exceeded the Hong Kong Market which returned -25.9% over the past year.

Price Volatility

Is 97's price volatile compared to industry and market?
97 volatility
97 Average Weekly Movement3.8%
Multiline Retail Industry Average Movement5.6%
Market Average Movement6.4%
10% most volatile stocks in HK Market12.5%
10% least volatile stocks in HK Market3.1%

Stable Share Price: 97 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 97's weekly volatility (4%) has been stable over the past year.

About the Company

n/a1,132Martin Lee

Henderson Investment Limited, an investment holding company, engages in the operation of department stores in Hong Kong. It operates five department stores under the Citistore name; five household specialty stores under the name Citilife; two department stores-cum-supermarkets under the APITA name; and two supermarkets under the UNY name. The company is based in Central, Hong Kong.

Henderson Investment Fundamentals Summary

How do Henderson Investment's earnings and revenue compare to its market cap?
97 fundamental statistics
Market CapHK$898.96m
Earnings (TTM)HK$28.00m
Revenue (TTM)HK$1.80b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
97 income statement (TTM)
Cost of RevenueHK$1.62b
Gross ProfitHK$185.00m
Other ExpensesHK$157.00m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)0.0092
Gross Margin10.26%
Net Profit Margin1.55%
Debt/Equity Ratio0%

How did 97 perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is 97 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 97?

Other financial metrics that can be useful for relative valuation.

97 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.8x
Enterprise Value/EBITDA14.3x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 97's PE Ratio compare to its peers?

97 PE Ratio vs Peers
The above table shows the PE ratio for 97 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average48.3x
848 Maoye International Holdings
825 New World Department Store China
289 Wing On Company International
3308 Golden Eagle Retail Group
97 Henderson Investment

Price-To-Earnings vs Peers: 97 is good value based on its Price-To-Earnings Ratio (32.1x) compared to the peer average (48.3x).

Price to Earnings Ratio vs Industry

How does 97's PE Ratio compare vs other companies in the Asian Multiline Retail Industry?

Price-To-Earnings vs Industry: 97 is expensive based on its Price-To-Earnings Ratio (32.1x) compared to the Asian Multiline Retail industry average (21.6x)

Price to Earnings Ratio vs Fair Ratio

What is 97's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

97 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio32.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 97's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 97 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 97 (HK$0.3) is trading below our estimate of fair value (HK$1.08)

Significantly Below Fair Value: 97 is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Henderson Investment forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Retail industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Henderson Investment has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

  • Examine whether Henderson Investment is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Henderson Investment competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Henderson Investment performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 97 has a large one-off gain of HK$10.0M impacting its June 30 2022 financial results.

Growing Profit Margin: 97's current net profit margins (1.6%) are lower than last year (5.9%).

Past Earnings Growth Analysis

Earnings Trend: 97's earnings have declined by 10.9% per year over the past 5 years.

Accelerating Growth: 97's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 97 had negative earnings growth (-74.3%) over the past year, making it difficult to compare to the Multiline Retail industry average (-11.7%).

Return on Equity

High ROE: 97's Return on Equity (2.1%) is considered low.

Discover strong past performing companies

Financial Health

How is Henderson Investment's financial position?

Financial Health Score


Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 97's short term assets (HK$446.0M) do not cover its short term liabilities (HK$597.0M).

Long Term Liabilities: 97's short term assets (HK$446.0M) do not cover its long term liabilities (HK$638.0M).

Debt to Equity History and Analysis

Debt Level: 97 is debt free.

Reducing Debt: 97 had no debt 5 years ago.

Debt Coverage: 97 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 97 has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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What is Henderson Investment current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Henderson Investment Dividend Yield vs Market
How does Henderson Investment dividend yield compare to the market?
SegmentDividend Yield
Company (Henderson Investment)6.8%
Market Bottom 25% (HK)3.0%
Market Top 25% (HK)8.8%
Industry Average (Multiline Retail)2.5%
Analyst forecast in 3 Years (Henderson Investment)n/a

Notable Dividend: 97's dividend (6.78%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.9%).

High Dividend: 97's dividend (6.78%) is low compared to the top 25% of dividend payers in the Hong Kong market (8.67%).

Stability and Growth of Payments

Stable Dividend: 97's dividend payments have been volatile in the past 10 years.

Growing Dividend: 97's dividend payments have fallen over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (217.7%), 97's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (26.8%), 97's dividend payments are well covered by cash flows.

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


Average board tenure


Martin Lee (50 yo)





Dr. Ka-Shing Lee, also known as Martin, GBS, JP, DSSc (Hon), has been a Joint Chairman of The Hong Kong and China Gas Company Limited since May 28, 2019. He has been Chairman and Managing Director of Hende...

Board Members

Experienced Board: 97's board of directors are seasoned and experienced ( 18 years average tenure).


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

Insider Trading Volume

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

Ownership Breakdown

What is the ownership structure of 97?
Owner TypeNumber of SharesOwnership Percentage
General Public926,999,18130.4%
Private Companies2,110,868,94369.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 3 shareholders own 69.58% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
Henderson Development Limited
2,110,868,943HK$622.7m0%no data
Norges Bank Investment Management
4,845,330HK$1.4m0%no data
Dimensional Fund Advisors LP
4,613,941HK$1.4m-0.1%no data

Company Information

Henderson Investment Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Henderson Investment Limited
  • Ticker: 97
  • Exchange: SEHK
  • Founded: NaN
  • Industry: Department Stores
  • Sector: Retail
  • Implied Market Cap: HK$898.962m
  • Shares outstanding: 3.05b
  • Website:

Number of Employees


  • Henderson Investment Limited
  • Two International Finance Centre
  • 72-76 Floors
  • Central
  • Hong Kong


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
97SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 1992

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Annual Earnings2021/12/31

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.