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Kingdee International Software Group

SEHK:268
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
268
SEHK
HK$24B
Market Cap
  1. Home
  2. HK
  3. Software
Company description

Kingdee International Software Group Company Limited, an investment holding company, engages in enterprise resource planning business. The last earnings update was 97 days ago. More info.


Add to Portfolio Compare Print
  • Kingdee International Software Group has significant price volatility in the past 3 months.
268 Share Price and Events
7 Day Returns
3.7%
SEHK:268
4.1%
HK Software
1.5%
HK Market
1 Year Returns
-18.2%
SEHK:268
-21%
HK Software
-4.7%
HK Market
268 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kingdee International Software Group (268) 3.7% -13.9% -25.2% -18.2% 211.4% 164.4%
HK Software 4.1% -7.8% -21.8% -21% 22.3% -11.3%
HK Market 1.5% 3.9% -8.2% -4.7% 18.3% 3.4%
1 Year Return vs Industry and Market
  • 268 outperformed the Software industry which returned -21% over the past year.
  • 268 underperformed the Market in Hong Kong which returned -4.7% over the past year.
Price Volatility
268
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Kingdee International Software Group's competitors could be found in our database.

Value

 Is Kingdee International Software Group 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 Kingdee International Software Group 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 Kingdee International Software Group.

SEHK:268 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
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:268
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.119 (1 + (1- 25%) (1.42%))
1.088
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.088 * 5.96%)
8.49%

Discounted Cash Flow Calculation for SEHK:268 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kingdee International Software Group 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:268 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 8.49%)
2020 554.68 Analyst x5 511.29
2021 559.50 Analyst x2 475.40
2022 1,084.00 Analyst x1 849.01
2023 1,463.00 Analyst x1 1,056.23
2024 1,776.77 Est @ 21.45% 1,182.42
2025 2,054.19 Est @ 15.61% 1,260.12
2026 2,291.05 Est @ 11.53% 1,295.49
2027 2,489.74 Est @ 8.67% 1,297.72
2028 2,655.85 Est @ 6.67% 1,276.02
2029 2,795.83 Est @ 5.27% 1,238.21
Present value of next 10 years cash flows CN¥10,441.89
SEHK:268 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥2,795.83 × (1 + 2%) ÷ (8.49% – 2%)
CN¥43,992.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥43,992.61 ÷ (1 + 8.49%)10
CN¥19,483.26
SEHK:268 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥10,441.89 + CN¥19,483.26
CN¥29,925.15
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥29,925.15 / 3,310.53
CN¥9.04
SEHK:268 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:268)
1.137
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥9.04 x 1.137
HK$10.28
Value per share (HKD) From above. HK$10.28
Current discount Discount to share price of HK$7.35
= -1 x (HK$7.35 - HK$10.28) / HK$10.28
28.5%

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

Current Discount
Amount off the current price Kingdee International Software Group is available for.
Intrinsic value
28%
Share price is HK$7.35 vs Future cash flow value of HK$10.28
Current Discount Checks
For Kingdee International Software Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kingdee International Software Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kingdee International Software Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Kingdee International Software Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kingdee International Software Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:268 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.13
SEHK:268 Share Price ** SEHK (2019-07-17) in HKD HK$7.35
SEHK:268 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥6.47
Hong Kong Software Industry PE Ratio Median Figure of 14 Publicly-Listed Software Companies 13.58x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.75x

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

** Primary Listing of Kingdee International Software Group.

SEHK:268 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:268 Share Price ÷ EPS (both in CNY)

= 6.47 ÷ 0.13

49.03x

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

  • Kingdee International Software Group is overvalued based on earnings compared to the HK Software industry average.
  • Kingdee International Software Group is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Kingdee International Software Group's expected growth come at a high price?
Raw Data
SEHK:268 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 49.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
16.2%per year
Hong Kong Software Industry PEG Ratio Median Figure of 6 Publicly-Listed Software Companies 0.76x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:268 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 49.03x ÷ 16.2%

3.03x

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

  • Kingdee International Software Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Kingdee International Software Group's assets?
Raw Data
SEHK:268 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥1.66
SEHK:268 Share Price * SEHK (2019-07-17) in HKD HK$7.35
SEHK:268 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥6.47
Hong Kong Software Industry PB Ratio Median Figure of 29 Publicly-Listed Software Companies 1.18x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:268 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:268 Share Price ÷ Book Value per Share (both in CNY)

= 6.47 ÷ 1.66

3.9x

* Primary Listing of Kingdee International Software Group.

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

  • Kingdee International Software Group is overvalued based on assets compared to the HK Software industry average.
X
Value checks
We assess Kingdee International Software Group'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 Software 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 Software industry average (and greater than 0)? (1 check)
  5. Kingdee International Software Group has a total score of 1/6, 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 Kingdee International Software Group expected to perform in the next 1 to 3 years based on estimates from 20 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
16.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kingdee International Software Group expected to grow at an attractive rate?
  • Kingdee International Software Group's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Kingdee International Software Group's earnings growth is expected to exceed the Hong Kong market average.
  • Kingdee International Software Group's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:268 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:268 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 16.2%
SEHK:268 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 18.5%
Hong Kong Software Industry Earnings Growth Rate Market Cap Weighted Average 21.1%
Hong Kong Software Industry Revenue Growth Rate Market Cap Weighted Average 21.1%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -7.3%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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:268 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:268 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 4,930 1,178 658 12
2020-12-31 4,118 976 504 20
2019-12-31 3,326 838 393 11
SEHK:268 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 2,809 906 412
2018-09-30 2,668 882 393
2018-06-30 2,528 858 373
2018-03-31 2,416 841 342
2017-12-31 2,303 824 310
2017-06-30 2,004 642 186
2017-03-31 1,933 627 200
2016-12-31 1,862 612 214
2016-06-30 1,672 602 261
2016-03-31 1,594 579 239

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kingdee International Software Group's earnings are expected to grow by 16.2% yearly, however this is not considered high growth (20% yearly).
  • Kingdee International Software Group's revenue is expected to grow by 18.5% yearly, however this is not considered high growth (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:268 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Kingdee International Software Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:268 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 0.20 0.25 0.13 9.00
2020-12-31 0.15 0.21 0.10 16.00
2019-12-31 0.12 0.16 0.08 16.00
SEHK:268 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.13
2018-09-30 0.13
2018-06-30 0.13
2018-03-31 0.12
2017-12-31 0.11
2017-06-30 0.06
2017-03-31 0.07
2016-12-31 0.07
2016-06-30 0.09
2016-03-31 0.08

*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.
  • Kingdee International Software Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kingdee International Software Group'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 Hong Kong 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.
Kingdee International Software Group has a total score of 3/6, 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 Kingdee International Software Group 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 Kingdee International Software Group's growth in the last year to its industry (Software).
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.
  • Kingdee International Software Group's year on year earnings growth rate has been positive over the past 5 years.
  • Kingdee International Software Group's 1-year earnings growth exceeds its 5-year average (32.9% vs 18.4%)
  • Kingdee International Software Group's earnings growth has exceeded the HK Software industry average in the past year (32.9% vs 2.9%).
Earnings and Revenue History
Kingdee International Software Group'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 Kingdee International Software Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:268 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 2,808.66 412.11 1,825.64 405.16
2018-09-30 2,668.28 392.73 1,760.47 385.47
2018-06-30 2,527.90 373.35 1,695.29 365.78
2018-03-31 2,415.68 341.68 1,625.69 355.55
2017-12-31 2,303.46 310.00 1,556.09 345.32
2017-06-30 2,003.66 186.10 1,325.02 315.82
2017-03-31 1,932.93 200.30 1,302.53 299.71
2016-12-31 1,862.21 214.50 1,280.04 283.60
2016-06-30 1,672.00 260.92 1,108.47 236.58
2016-03-31 1,594.38 239.31 1,038.36 216.47
2015-12-31 1,516.77 217.69 968.24 196.37
2015-09-30 1,570.42 156.48 1,055.90 226.27
2015-06-30 1,554.62 207.19 999.45 217.72
2015-03-31 1,550.57 202.12 993.06 220.58
2014-12-31 1,546.52 197.05 986.68 223.45
2014-09-30 1,576.84 198.15 977.71 221.08
2014-06-30 1,607.16 199.24 968.75 218.71
2014-03-31 1,604.64 162.82 1,000.86 225.80
2013-12-31 1,602.13 126.40 1,032.96 232.89
2013-09-30 1,666.37 102.66 1,089.29 233.62
2013-06-30 1,730.62 78.93 1,145.61 234.34
2013-03-31 1,748.06 -30.66 1,258.10 217.35
2012-12-31 1,765.49 -140.25 1,370.59 200.36
2012-09-30 1,861.74 -166.34 1,490.07 188.95

*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.
  • Kingdee International Software Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kingdee International Software Group used its assets less efficiently than the HK Software industry average last year based on Return on Assets.
  • Kingdee International Software Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kingdee International Software Group'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 Software 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.
Kingdee International Software Group has a total score of 3/6, 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 Kingdee International Software Group'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 Kingdee International Software Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kingdee International Software Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kingdee International Software Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kingdee International Software Group'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 10.5x 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 Kingdee International Software Group Company Filings, last reported 6 months ago.

SEHK:268 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,532.67 301.13 2,023.95
2018-09-30 5,532.67 301.13 2,023.95
2018-06-30 5,354.26 223.96 2,386.62
2018-03-31 5,354.26 223.96 2,386.62
2017-12-31 4,043.08 1,348.53 2,549.31
2017-06-30 3,551.89 1,448.57 2,049.45
2017-03-31 3,551.89 1,448.57 2,049.45
2016-12-31 3,536.17 1,496.27 2,216.45
2016-06-30 3,452.31 1,512.42 2,075.59
2016-03-31 3,452.31 1,512.42 2,075.59
2015-12-31 3,246.72 1,456.52 2,296.45
2015-09-30 3,246.72 1,456.52 2,296.45
2015-06-30 3,177.00 1,889.37 2,590.82
2015-03-31 3,177.00 1,889.37 2,590.82
2014-12-31 1,998.22 1,836.98 1,520.92
2014-09-30 1,998.22 1,836.98 1,520.92
2014-06-30 1,880.91 1,899.43 1,351.40
2014-03-31 1,880.91 1,899.43 1,351.40
2013-12-31 1,754.88 1,575.20 998.95
2013-09-30 1,754.88 1,575.20 998.95
2013-06-30 1,608.30 1,602.54 734.20
2013-03-31 1,608.30 1,602.54 734.20
2012-12-31 1,590.30 1,590.64 912.50
2012-09-30 1,590.30 1,590.64 912.50
  • Kingdee International Software Group's level of debt (5.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (89.9% vs 5.4% today).
  • Debt is well covered by operating cash flow (300.7%, greater than 20% of total debt).
  • Kingdee International Software Group earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Kingdee International Software Group'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. Kingdee International Software Group has a total score of 6/6, 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 Kingdee International Software Group'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
0.15%
Current annual income from Kingdee International Software Group dividends. Estimated to be 0.21% next year.
If you bought HK$2,000 of Kingdee International Software Group shares you are expected to receive HK$3 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?
  • Kingdee International Software Group's pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • Kingdee International Software Group's dividend is below the markets top 25% of dividend payers in Hong Kong (5.75%).
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:268 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 20 Analyst Estimates (S&P Global) See Below
Hong Kong Software Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 0.7%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 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 5.7%

Industry and Market average data is calculated daily.

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

SEHK:268 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.02 8.00
2020-12-31 0.01 14.00
2019-12-31 0.01 14.00
SEHK:268 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-13 0.010 0.132
2018-04-03 0.013 0.190
2016-09-05 0.000 0.000
2016-08-17 0.000 0.000
2016-04-06 0.000 0.000
2016-03-16 0.000 0.000
2015-04-02 0.012 0.424
2015-03-17 0.012 0.483
2012-08-29 0.000 0.000
2012-08-21 0.000 0.000
2012-04-05 0.000 0.000
2012-03-27 0.000 0.000
2011-03-15 0.023 0.939
2010-03-24 0.015 0.612
2009-03-25 0.016 1.377
2009-03-02 0.016 2.443

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

  • Kingdee International Software Group is not paying a notable dividend for Hong Kong, therefore no need to check if the payments are stable.
  • Kingdee International Software Group is not paying a notable dividend for Hong Kong, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Kingdee International Software Group's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Kingdee International Software Group's dividends as it is not paying a notable one for Hong Kong.
Future Payout to shareholders
  • No need to calculate the sustainability of Kingdee International Software Group's dividends in 3 years as they are not expected to pay a notable one for Hong Kong.
X
Income/ dividend checks
We assess Kingdee International Software Group'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 Kingdee International Software Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kingdee International Software Group 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 Kingdee International Software Group'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
Robert Xu
COMPENSATION CN¥37,473,000
AGE 56
TENURE AS CEO 10.6 years
CEO Bio

Mr. Shao Chun Xu, also known as Robert, has been Chief Executive Officer of Kingdee Software (China) Company Limited since February 02, 2012. Mr. Xu founded Kingdee International Software Group Co. Ltd in 1993 and has been its Chief Executive Officer since December 31, 2008 and President since February 2, 2012. Mr. Xu served as the Chief Architect of Kingdee International Software Group Co. Ltd. since January 1, 2007. He served as the Chief Executive Officer of Kingdee International Software Group Co. Ltd. until December 2006. Mr. Xu is a Senior Economist and experienced in strategic management, business operation. He has participated in and led the designs and development of a series of leading enterprise application software. He founded Shenzhen APT Computer Technology Co. Ltd in 1991 and served as General Manager of SZPT, the predecessor of it since 1993. He also established Shenzhen Panavision Technology Development Co Ltd., the predecessor of Kingdee International Software Group Company Ltd. He serves as an Executive Chairman of Kingdee International Software Group Co. Ltd. He has been a Director of Global Education & Technology Group Limited since October 7, 2010. He is also a member of the 9th central committee of the China National Democratic Construction Association, a member of the council of China Siyuan Poverty Alleviation Foundation, deputy director of the China Software Industry Association and a member of the Accounting Information Technology Committee of the Ministry of Finance. He has been awarded the Government Special Expert Allowance by the State Council of the PRC. For his outstanding achievements, he has been awarded as “United Nations World Indigenous Entrepreneurs“,” China Software Ten Outstanding Youth“,” The 10 Outstanding Entrepreneurs”,” Outstanding Leader for China’s Information Industry “,” Thirty Influential Economy Persons in the Thirty Years of Reform and Opening in Shenzhen “and” Shenzhen Science and Technology Innovation Mayor’s Award “ etc. Mr. Xu received a bachelor's degree in computer science from Southeast University in the PRC in 1983 , a Master of Accounting degree from the Institute of the Ministry of Finance in 1988 and an Executive MBA from the China Europe International Business School in 2004.

CEO Compensation
  • Robert's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Robert's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Kingdee International Software Group management team in years:

4.6
Average Tenure
48
Average Age
  • The tenure for the Kingdee International Software Group management team is about average.
Management Team

Robert Xu

TITLE
Founder
COMPENSATION
CN¥37M
AGE
56
TENURE
10.6 yrs

Bo Lin

TITLE
CFO, Senior VP & Executive Director
COMPENSATION
CN¥20M
AGE
46
TENURE
3.5 yrs

Jason Zhang

TITLE
Senior Vice President of Kingdee Software (China) Co Ltd
AGE
44

Timon Li

TITLE
President of Kingdee Deeking
AGE
50

Yan Sun

TITLE
President of Kingdee Software (China) Co Ltd
AGE
45

Charles Chow

TITLE
Company Secretary
AGE
68
TENURE
4.6 yrs
Board of Directors Tenure

Average tenure and age of the Kingdee International Software Group board of directors in years:

5.3
Average Tenure
58
Average Age
  • The tenure for the Kingdee International Software Group board of directors is about average.
Board of Directors

Bo Lin

TITLE
CFO, Senior VP & Executive Director
COMPENSATION
CN¥20M
AGE
46
TENURE
3.3 yrs

Gary Clark Biddle

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥225K
AGE
68
TENURE
14.8 yrs

Robert Xu

TITLE
Founder
COMPENSATION
CN¥37M
AGE
56

Chia Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥175K
AGE
60
TENURE
5.3 yrs

Charles Wu

TITLE
Board Observer
AGE
63
TENURE
10.8 yrs

Ming Dong

TITLE
Non-Executive Director
COMPENSATION
CN¥175K
AGE
64
TENURE
6.9 yrs

Samuel Shen

TITLE
Non-Executive Director
COMPENSATION
CN¥150K
AGE
54
TENURE
1.3 yrs

Yang Cao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥150K
AGE
47
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • Kingdee International Software Group individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
08. Jul 19 Buy Bo Lin Individual 08. Jul 19 08. Jul 19 100,000 HK$6.88 HK$688,000
20. Jun 19 Sell Shao Xu Individual 19. Jun 19 19. Jun 19 -60,000,000 HK$8.40 HK$-503,999,987
04. Jun 19 Sell J.P. Morgan Asset Management, Inc. Company 31. May 19 31. May 19 -216,596 HK$8.82 HK$-1,911,070
03. Jun 19 Sell Bo Lin Individual 31. May 19 31. May 19 -326,000 HK$8.88 HK$-2,894,880
13. May 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 08. May 19 08. May 19 -28,974,000 HK$8.96 HK$-259,714,223
08. May 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. May 19 03. May 19 135,000 HK$9.71 HK$1,310,512
08. May 19 Buy J.P. Morgan Asset Management, Inc. Company 03. May 19 03. May 19 18,000 HK$9.71 HK$174,735
07. May 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 02. May 19 02. May 19 -36,365,000 HK$9.66 HK$-351,289,570
03. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 29. Mar 19 29. Mar 19 -153,397 HK$9.01 HK$-1,382,721
03. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 29. Mar 19 29. Mar 19 3,182,900 HK$9.01 HK$28,690,671
03. Apr 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 29. Mar 19 29. Mar 19 -117,000 HK$9.01 HK$-1,054,638
03. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 29. Mar 19 29. Mar 19 8,000 HK$9.01 HK$72,112
03. Apr 19 Buy J.P. Morgan Asset Management, Inc. Company 29. Mar 19 29. Mar 19 344,000 HK$9.01 HK$3,100,817
03. Apr 19 Buy BlackRock, Inc. Company 29. Mar 19 29. Mar 19 3,892,703 HK$9.03 HK$35,156,951
02. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 28. Mar 19 28. Mar 19 59,859,000 HK$8.93 HK$534,457,294
02. Apr 19 Buy J.P. Morgan Asset Management, Inc. Company 28. Mar 19 28. Mar 19 20,490,706 HK$8.93 HK$182,953,395
02. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 28. Mar 19 28. Mar 19 -32,931,217 HK$8.93 HK$-294,029,789
02. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 28. Mar 19 28. Mar 19 15,000,000 HK$8.93 HK$133,929,057
01. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 27. Mar 19 27. Mar 19 6,910,000 HK$8.88 HK$61,360,127
30. Mar 19 Buy Capital Research and Management Company Company 28. Mar 19 28. Mar 19 12,248,000 HK$8.88 HK$108,727,974
29. Mar 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 26. Mar 19 26. Mar 19 -501,695 HK$8.87 HK$-4,448,980
29. Mar 19 Buy Highbridge Capital Management, LLC Company 26. Mar 19 26. Mar 19 100,000 HK$8.87 HK$886,790
28. Mar 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 25. Mar 19 25. Mar 19 -11,813,790 HK$8.97 HK$-106,022,858
28. Mar 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 25. Mar 19 25. Mar 19 -882,000 HK$8.97 HK$-7,915,509
28. Mar 19 Buy J.P. Morgan Asset Management, Inc. Company 25. Mar 19 25. Mar 19 781,000 HK$8.97 HK$7,009,084
21. Mar 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 18. Mar 19 18. Mar 19 22,073,669 HK$9.53 HK$210,441,613
07. Mar 19 Buy J.P. Morgan Asset Management, Inc. Company 04. Mar 19 04. Mar 19 4,704,705 HK$8.99 HK$42,295,295
07. Feb 19 Sell BlackRock, Inc. Company 04. Feb 19 04. Feb 19 -187,000 HK$7.87 HK$-1,471,690
07. Feb 19 Buy BlackRock, Inc. Company 05. Feb 19 05. Feb 19 502,000 HK$7.83 HK$3,930,659
02. Feb 19 Buy BlackRock, Inc. Company 30. Jan 19 30. Jan 19 515,000 HK$7.37 HK$3,797,509
26. Jan 19 Sell BlackRock, Inc. Company 23. Jan 19 23. Jan 19 -654,000 HK$7.37 HK$-4,818,279
26. Jan 19 Buy BlackRock, Inc. Company 23. Jan 19 23. Jan 19 130,000 HK$7.37 HK$957,762
25. Jan 19 Buy Capital Research and Management Company Company 23. Jan 19 23. Jan 19 2,900,000 HK$7.32 HK$21,232,634
17. Jan 19 Buy BlackRock, Inc. Company 14. Jan 19 14. Jan 19 1,213,000 HK$6.63 HK$8,036,130
02. Nov 18 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 30. Oct 18 30. Oct 18 9,909,000 HK$5.66 HK$56,120,620
18. Oct 18 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 15. Oct 18 15. Oct 18 1,072,443 HK$7.12 HK$7,638,901
16. Oct 18 Sell J.P. Morgan Asset Management, Inc. Company 11. Oct 18 11. Oct 18 -54,830 HK$6.70 HK$-367,547
13. Oct 18 Buy Capital Research and Management Company Company 11. Oct 18 11. Oct 18 7,004,000 HK$6.73 HK$47,161,442
17. Aug 18 Buy Capital Research and Management Company Company 15. Aug 18 15. Aug 18 10,761,893 HK$9.00 HK$96,832,274
14. Aug 18 Buy Capital Research and Management Company Company 10. Aug 18 10. Aug 18 8,500,000 HK$10.77 HK$91,572,207
09. Aug 18 Buy Capital Research and Management Company Company 07. Aug 18 07. Aug 18 12,974,000 HK$9.11 HK$118,178,865
07. Aug 18 Buy Capital Research and Management Company Company 03. Aug 18 03. Aug 18 15,784,000 HK$8.62 HK$136,089,663
X
Management checks
We assess Kingdee International Software Group'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. Kingdee International Software Group 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

Kingdee International Software Group (HKG:268) Seems To Use Debt Rather Sparingly

You can click the graphic below for the historical numbers, but it shows that Kingdee International Software Group had CN¥301.1m of debt in December 2018, down from CN¥1.35b, one year before However, it does have CN¥2.02b in cash offsetting this, leading to net cash of CN¥1.72b. … While Kingdee International Software Group has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. … Summing up While it is always sensible to investigate a company's debt, in this case Kingdee International Software Group has CN¥1.7b in net cash and a decent-looking balance sheet.

Simply Wall St -

Why Kingdee International Software Group Company Limited's (HKG:268) High P/E Ratio Isn't Necessarily A Bad Thing

We'll look at Kingdee International Software Group Company Limited's (HKG:268) P/E ratio and reflect on what it tells us about the company's share price. … The formula for price to earnings is: Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) Or for Kingdee International Software Group: P/E of 45.36 = CN¥5.98 (Note: this is the share price in the reporting currency, namely, CNY ) ÷ CN¥0.13 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … Kingdee International Software Group's Balance Sheet Since Kingdee International Software Group holds net cash of CN¥1.7b, it can spend on growth, justifying a higher P/E ratio than otherwise.

Simply Wall St -

Kingdee International Software Group Company Limited (HKG:268): What's The Analyst Consensus Outlook?

The most recent earnings announcement Kingdee International Software Group Company Limited's (HKG:268) released in April 2019 signalled that the company experienced a robust tailwind, eventuating to a double-digit earnings growth of 33%. … Today I want to provide a brief commentary on how market analysts view Kingdee International Software Group's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … See our latest analysis for Kingdee International Software Group Analysts' outlook for the upcoming year seems positive, with earnings increasing by a robust 11%.

Simply Wall St -

Kingdee International Software Group Company Limited (HKG:268): Has Recent Earnings Growth Beaten Long-Term Trend?

Analyzing Kingdee International Software Group Company Limited's (HKG:268) track record of past performance is a valuable exercise for investors. … Check out our latest analysis for Kingdee International Software Group How 268 fared against its long-term earnings performance and its industry 268's trailing twelve-month earnings (from 31 December 2018) of CN¥412m has jumped 33% compared to the previous year. … You should continue to research Kingdee International Software Group to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for 268’s future growth?

Simply Wall St -

Have Investors Priced In Kingdee International Software Group Company Limited's (HKG:268) Growth?

Kingdee International Software Group Company Limited (HKG:268) is considered a high-growth stock, but its last closing price of HK$8.55 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … This illustrates that Kingdee International Software Group is overvalued compared to the HK market average ratio of 10.77x , and overvalued based on current earnings compared to the Software industry average of 12.75x. … Based on this growth, Kingdee International Software Group's stock can be considered overvalued , based on the fundamentals.

Simply Wall St -

Our Take On Kingdee International Software Group Company Limited's (HKG:268) CEO Salary

It would therefore appear that Kingdee International Software Group Company Limited pays Robert Xu more than the median CEO remuneration at companies of a similar size, in the same market. … Boasting a total shareholder return of 213% over three years, Kingdee International Software Group Company Limited has done well by shareholders. … We compared total CEO remuneration at Kingdee International Software Group Company Limited with the amount paid at companies with a similar market capitalization.

Simply Wall St -

Does The Kingdee International Software Group Company Limited (HKG:268) Share Price Tend To Follow The Market?

If you're interested in Kingdee International Software Group Company Limited (HKG:268), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … If this beta value holds true in the future, Kingdee International Software Group shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down. … What this means for you: Since Kingdee International Software Group tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

Have Insiders Been Selling Kingdee International Software Group Company Limited (HKG:268) Shares?

So before you buy or sell Kingdee International Software Group Company Limited (HKG:268), you may well want to know whether insiders have been buying or selling. … That means that even when the share price was below the current price of HK$9.21, an insider wanted to cash in some shares. … While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign

Simply Wall St -

Calculating The Intrinsic Value Of Kingdee International Software Group Company Limited (HKG:268)

Today we will run through one way of estimating the intrinsic value of Kingdee International Software Group Company Limited (HKG:268). … by taking the foreast future cash flows of the company and discounting them back to today's value. … Check out our latest analysis for Kingdee International Software Group

Simply Wall St -

Do Institutions Own Kingdee International Software Group Company Limited (HKG:268) Shares?

The big shareholder groups in Kingdee International Software Group Company Limited (HKG:268) have power over the company. … Kingdee International Software Group is a pretty big company. … See our latest analysis for Kingdee International Software Group

Simply Wall St -

Company Info

Description

Kingdee International Software Group Company Limited, an investment holding company, engages in enterprise resource planning business. The company operates through ERP Business, Cloud Services Business, and Investment Properties Operating Business segments. The ERP Business segment is involved in the sale and implementation of enterprise management software; provision of other related services; sale of hardware related services to enterprise management software arrangements; and sale of middleware software. The Cloud Services Business segment provides online services related to cloud service; and e-commerce and other online management services. The Investment Properties Operating Business segment operates investment properties. The company also develops, designs, manufactures, and sells hardware products; provides software-related and online financial services; and develops Internet and online pay technology. It serves enterprises, government agencies, and other organizations worldwide. Kingdee International Software Group Company Limited was founded in 1991 and is headquartered in Shenzhen, the People’s Republic of China.

Details
Name: Kingdee International Software Group Company Limited
268
Exchange: SEHK
Founded: 1991
HK$24,034,473,362
3,310,533,521
Website: http://www.kingdee.com
Address: Kingdee International Software Group Company Limited
Kingdee Software Park,
No.2 Kejinan 12 Road,
Shenzhen,
Guangdong Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 268 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 15. Feb 2001
OTCPK KGDE.F Ordinary Shares Pink Sheets LLC US USD 15. Feb 2001
DB KDIC Ordinary Shares Deutsche Boerse AG DE EUR 15. Feb 2001
SHSC 268 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 15. Feb 2001
SZSC 268 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 15. Feb 2001
OTCPK KGDE.Y UNSPONSORD ADR Pink Sheets LLC US USD 23. Jan 2009
Number of employees
Current staff
Staff numbers
0
Kingdee International Software Group employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 12:38
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/07/12
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.