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1523

Plover Bay Technologies SEHK:1523 Stock Report

Last Price

HK$2.95

Market Cap

HK$3.2b

7D

1.7%

1Y

71.5%

Updated

27 Jun, 2022

Data

Company Financials +
1523 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance5/6
Financial Health5/6
Dividends2/6

1523 Stock Overview

Plover Bay Technologies Limited, an investment holding company, designs, develops, markets, and sells software defined wide area network routers worldwide.

Plover Bay Technologies Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Plover Bay Technologies
Historical stock prices
Current Share PriceHK$2.95
52 Week HighHK$4.68
52 Week LowHK$1.70
Beta0.81
1 Month Change-2.64%
3 Month Change-10.06%
1 Year Change71.51%
3 Year Change154.31%
5 Year Change224.18%
Change since IPO502.04%

Recent News & Updates

Mar 24
We Think Plover Bay Technologies (HKG:1523) Can Manage Its Debt With Ease

We Think Plover Bay Technologies (HKG:1523) Can Manage Its Debt With Ease

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Mar 04
Why Plover Bay Technologies Limited (HKG:1523) Could Be Worth Watching

Why Plover Bay Technologies Limited (HKG:1523) Could Be Worth Watching

Plover Bay Technologies Limited ( HKG:1523 ), might not be a large cap stock, but it saw significant share price...

Shareholder Returns

1523HK CommunicationsHK Market
7D1.7%6.5%1.7%
1Y71.5%-39.6%-21.2%

Return vs Industry: 1523 exceeded the Hong Kong Communications industry which returned -43.7% over the past year.

Return vs Market: 1523 exceeded the Hong Kong Market which returned -23.3% over the past year.

Price Volatility

Is 1523's price volatile compared to industry and market?
1523 volatility
1523 Average Weekly Movement5.2%
Communications Industry Average Movement7.2%
Market Average Movement6.9%
10% most volatile stocks in HK Market13.8%
10% least volatile stocks in HK Market3.4%

Stable Share Price: 1523 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 1523's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2006190Kit Wai Chauhttps://www.ploverbay.com

Plover Bay Technologies Limited, an investment holding company, designs, develops, markets, and sells software defined wide area network routers worldwide. It also provides software licences, and warranty and support services. The company markets and sells its products under the Peplink and Pepwave brands.

Plover Bay Technologies Fundamentals Summary

How do Plover Bay Technologies's earnings and revenue compare to its market cap?
1523 fundamental statistics
Market CapUS$410.85m
Earnings (TTM)US$21.20m
Revenue (TTM)US$74.13m

19.4x

P/E Ratio

5.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1523 income statement (TTM)
RevenueUS$74.13m
Cost of RevenueUS$30.97m
Gross ProfitUS$43.16m
Other ExpensesUS$21.96m
EarningsUS$21.20m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.019
Gross Margin58.22%
Net Profit Margin28.60%
Debt/Equity Ratio11.6%

How did 1523 perform over the long term?

See historical performance and comparison

Dividends

4.8%

Current Dividend Yield

89%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 1523 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

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

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1523?

Other financial metrics that can be useful for relative valuation.

1523 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/Revenue5.2x
Enterprise Value/EBITDA14.7x
PEG Ratio0.9x

Price to Earnings Ratio vs Peers

How does 1523's PE Ratio compare to its peers?

1523 PE Ratio vs Peers
The above table shows the PE ratio for 1523 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.3x
1085 Hengxin Technology
16.4xn/aHK$1.4b
303 Vtech Holdings
11.5xn/aHK$15.6b
1300 Trigiant Group
3.5xn/aHK$851.0m
6869 Yangtze Optical Fibre And Cable Limited
9.7x8.4%HK$18.4b
1523 Plover Bay Technologies
19.4x22.8%HK$3.2b

Price-To-Earnings vs Peers: 1523 is expensive based on its Price-To-Earnings Ratio (19.4x) compared to the peer average (10.3x).


Price to Earnings Ratio vs Industry

How does 1523's PE Ratio compare vs other companies in the Asian Communications Industry?

Price-To-Earnings vs Industry: 1523 is expensive based on its Price-To-Earnings Ratio (19.4x) compared to the Hong Kong Communications industry average (11.4x)


Price to Earnings Ratio vs Fair Ratio

What is 1523'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.

1523 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.4x
Fair PE Ratio11.5x

Price-To-Earnings vs Fair Ratio: 1523 is expensive based on its Price-To-Earnings Ratio (19.4x) compared to the estimated Fair Price-To-Earnings Ratio (11.5x).


Share Price vs Fair Value

What is the Fair Price of 1523 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1523 (HK$2.95) is trading below our estimate of fair value (HK$8.68)

Significantly Below Fair Value: 1523 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: 1523 is good value based on its PEG Ratio (0.9x)


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Future Growth

How is Plover Bay Technologies forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


22.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1523's forecast earnings growth (22.8% per year) is above the savings rate (1.5%).

Earnings vs Market: 1523's earnings (22.8% per year) are forecast to grow faster than the Hong Kong market (16.9% per year).

High Growth Earnings: 1523's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 1523's revenue (19.8% per year) is forecast to grow faster than the Hong Kong market (10.3% per year).

High Growth Revenue: 1523's revenue (19.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1523's Return on Equity is forecast to be very high in 3 years time (74.9%).


Discover growth companies

Past Performance

How has Plover Bay Technologies performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


22.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1523 has a high level of non-cash earnings.

Growing Profit Margin: 1523's current net profit margins (28.6%) are higher than last year (26.9%).


Past Earnings Growth Analysis

Earnings Trend: 1523's earnings have grown significantly by 22.6% per year over the past 5 years.

Accelerating Growth: 1523's earnings growth over the past year (49%) exceeds its 5-year average (22.6% per year).

Earnings vs Industry: 1523 earnings growth over the past year (49%) exceeded the Communications industry 23.3%.


Return on Equity

High ROE: 1523's Return on Equity (52.9%) is considered outstanding.


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Financial Health

How is Plover Bay Technologies's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1523's short term assets ($66.9M) exceed its short term liabilities ($27.4M).

Long Term Liabilities: 1523's short term assets ($66.9M) exceed its long term liabilities ($4.3M).


Debt to Equity History and Analysis

Debt Level: 1523 has more cash than its total debt.

Reducing Debt: 1523's debt to equity ratio has increased from 1.3% to 11.6% over the past 5 years.

Debt Coverage: 1523's debt is well covered by operating cash flow (407.8%).

Interest Coverage: 1523's interest payments on its debt are well covered by EBIT (1304.6x coverage).


Balance Sheet


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Dividend

What is Plover Bay Technologies's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.85%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 1523's dividend (4.85%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.75%).

High Dividend: 1523's dividend (4.85%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.9%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 1523 has been paying a dividend for less than 10 years.

Growing Dividend: 1523's dividend payments have increased, but the company has only paid a dividend for 6 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (88.9%), 1523's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (114.5%), 1523's dividend payments are not well covered by cash flows.


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Management

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

6.6yrs

Average board tenure


CEO

Kit Wai Chau (47 yo)

6.58yrs

Tenure

US$220,000

Compensation

Mr. Chau Kit Wai has been Chief Executive Officer and Executive Director at Plover Bay Technologies Limited since November 27, 2015 and has been its General Manager since April 2008. Mr. Chau joined Plover...


CEO Compensation Analysis

Compensation vs Market: Kit Wai's total compensation ($USD220.00K) is below average for companies of similar size in the Hong Kong market ($USD393.76K).

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


Board Members

Experienced Board: 1523's board of directors are considered experienced (6.6 years average tenure).


Ownership

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

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


Top Shareholders

Company Information

Plover Bay Technologies Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Plover Bay Technologies Limited
  • Ticker: 1523
  • Exchange: SEHK
  • Founded: 2006
  • Industry: Communications Equipment
  • Sector: Tech
  • Implied Market Cap: HK$3.225b
  • Shares outstanding: 1.09b
  • Website: https://www.ploverbay.com

Number of Employees


Location

  • Plover Bay Technologies Limited
  • Dragon Industrial Building
  • Unit B, 5th Floor
  • Lai Chi Kok
  • Kowloon
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 00:00
Earnings2021/12/31
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.