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Comba Telecom Systems Holdings

SEHK:2342
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2342
SEHK
HK$4B
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Comba Telecom Systems Holdings Limited, an investment holding company, researches, develops, manufactures, and sells wireless telecommunications network system equipment and related engineering services. The last earnings update was 28 days ago. More info.


Add to Portfolio Compare Print
  • Comba Telecom Systems Holdings has significant price volatility in the past 3 months.
2342 Share Price and Events
7 Day Returns
-8.2%
SEHK:2342
-5.4%
HK Communications
-1.6%
HK Market
1 Year Returns
17.3%
SEHK:2342
-31.3%
HK Communications
-16.6%
HK Market
2342 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Comba Telecom Systems Holdings (2342) -8.2% -26.1% -29.7% 17.3% 39.8% 15.2%
HK Communications -5.4% -16% -17.6% -31.3% 16.8% -7.6%
HK Market -1.6% -9.5% -5.2% -16.6% 24.8% 7.3%
1 Year Return vs Industry and Market
  • 2342 outperformed the Communications industry which returned -31.3% over the past year.
  • 2342 outperformed the Market in Hong Kong which returned -16.6% over the past year.
Price Volatility
2342
Industry
5yr Volatility vs Market

Value

 Is Comba Telecom Systems Holdings 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 Comba Telecom Systems Holdings 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 Comba Telecom Systems Holdings.

SEHK:2342 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.9%
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:2342
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.082 (1 + (1- 25%) (53.24%))
1.344
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.344 * 6.65%)
10.94%

Discounted Cash Flow Calculation for SEHK:2342 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Comba Telecom Systems Holdings 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:2342 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 10.94%)
2019 956.33 Est @ 39.72% 862.01
2020 1,228.00 Est @ 28.41% 997.72
2021 1,479.58 Est @ 20.49% 1,083.56
2022 1,700.64 Est @ 14.94% 1,122.62
2023 1,888.73 Est @ 11.06% 1,123.82
2024 2,046.31 Est @ 8.34% 1,097.49
2025 2,178.11 Est @ 6.44% 1,052.97
2026 2,289.40 Est @ 5.11% 997.61
2027 2,385.04 Est @ 4.18% 936.79
2028 2,469.12 Est @ 3.53% 874.16
Present value of next 10 years cash flows HK$10,148.74
SEHK:2342 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$2,469.12 × (1 + 2%) ÷ (10.94% – 2%)
HK$28,175.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$28,175.90 ÷ (1 + 10.94%)10
HK$9,975.34
SEHK:2342 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$10,148.74 + HK$9,975.34
HK$20,124.08
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$20,124.08 / 2,439.57
HK$8.25
SEHK:2342 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$8.25
Current discount Discount to share price of HK$1.56
= -1 x (HK$1.56 - HK$8.25) / HK$8.25
81.1%

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

Current Discount
Amount off the current price Comba Telecom Systems Holdings is available for.
Intrinsic value
>50%
Share price is HK$1.56 vs Future cash flow value of HK$8.25
Current Discount Checks
For Comba Telecom Systems Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Comba Telecom Systems Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Comba Telecom Systems Holdings's share price is below the future cash flow value, and 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 Comba Telecom Systems Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Comba Telecom Systems Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2342 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$-0.07
SEHK:2342 Share Price ** SEHK (2019-05-22) in HKD HK$1.56
Hong Kong Communications Industry PE Ratio Median Figure of 14 Publicly-Listed Communications Companies 11.73x
Hong Kong Market PE Ratio Median Figure of 1,478 Publicly-Listed Companies 11.06x

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

** Primary Listing of Comba Telecom Systems Holdings.

SEHK:2342 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2342 Share Price ÷ EPS (both in HKD)

= 1.56 ÷ -0.07

-22.06x

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

  • Comba Telecom Systems Holdings is loss making, we can't compare its value to the HK Communications industry average.
  • Comba Telecom Systems Holdings is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does Comba Telecom Systems Holdings's expected growth come at a high price?
Raw Data
SEHK:2342 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -22.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
73.3%per year
Asia Communications Industry PEG Ratio Median Figure of 9 Publicly-Listed Communications Companies 0.82x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Comba Telecom Systems Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Comba Telecom Systems Holdings's assets?
Raw Data
SEHK:2342 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$1.36
SEHK:2342 Share Price * SEHK (2019-05-22) in HKD HK$1.56
Hong Kong Communications Industry PB Ratio Median Figure of 25 Publicly-Listed Communications Companies 1.13x
Hong Kong Market PB Ratio Median Figure of 2,157 Publicly-Listed Companies 0.97x
SEHK:2342 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2342 Share Price ÷ Book Value per Share (both in HKD)

= 1.56 ÷ 1.36

1.14x

* Primary Listing of Comba Telecom Systems Holdings.

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

  • Comba Telecom Systems Holdings is overvalued based on assets compared to the HK Communications industry average.
X
Value checks
We assess Comba Telecom Systems Holdings'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 Communications 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 Communications industry average (and greater than 0)? (1 check)
  5. Comba Telecom Systems Holdings has a total score of 2/6, 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 Comba Telecom Systems Holdings expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
73.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Comba Telecom Systems Holdings expected to grow at an attractive rate?
  • Comba Telecom Systems Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Comba Telecom Systems Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • Comba Telecom Systems Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:2342 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2342 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 73.3%
SEHK:2342 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 15.2%
Hong Kong Communications Industry Earnings Growth Rate Market Cap Weighted Average 6.8%
Hong Kong Communications Industry Revenue Growth Rate Market Cap Weighted Average 8.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -5.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*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:2342 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2342 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 8,917 575 607 1
2020-12-31 7,504 507 380 1
2019-12-31 6,426 144 209 1
SEHK:2342 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 5,663 826 -171
2018-09-30 5,499 575 -109
2018-06-30 5,336 324 -46
2018-03-31 5,450 323 -9
2017-12-31 5,564 322 27
2017-09-30 5,571 276 81
2017-06-30 5,577 229 134
2017-03-31 5,766 320 143
2016-12-31 5,954 412 152
2016-09-30 6,239 677 184
2016-06-30 6,525 942 217
2016-03-31 6,648 1,016 215

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Comba Telecom Systems Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Comba Telecom Systems Holdings's revenue is expected to grow by 15.2% 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:2342 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Comba Telecom Systems Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2342 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.25 0.25 0.25 1.00
2020-12-31 0.16 0.16 0.16 1.00
2019-12-31 0.09 0.09 0.09 1.00
SEHK:2342 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 -0.07
2018-09-30 -0.04
2018-06-30 -0.02
2018-03-31 0.00
2017-12-31 0.01
2017-09-30 0.03
2017-06-30 0.05
2017-03-31 0.06
2016-12-31 0.06
2016-09-30 0.08
2016-06-30 0.09
2016-03-31 0.09

*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.
  • Comba Telecom Systems Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Comba Telecom Systems Holdings'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.
Comba Telecom Systems Holdings has a total score of 4/6, 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 Comba Telecom Systems Holdings 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 Comba Telecom Systems Holdings's growth in the last year to its industry (Communications).
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.
  • Comba Telecom Systems Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Comba Telecom Systems Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Comba Telecom Systems Holdings's 1-year growth to the HK Communications industry average as it is not currently profitable.
Earnings and Revenue History
Comba Telecom Systems Holdings'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 Comba Telecom Systems Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2342 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 5,663.31 -171.38 1,208.45 353.09
2018-09-30 5,499.41 -108.59 1,173.97 352.72
2018-06-30 5,335.51 -45.80 1,139.49 352.35
2018-03-31 5,449.62 -9.22 1,112.83 341.84
2017-12-31 5,563.73 27.37 1,086.18 331.33
2017-09-30 5,570.52 80.66 1,125.58 276.14
2017-06-30 5,577.32 133.95 1,164.98 220.95
2017-03-31 5,765.83 143.11 1,209.35 224.28
2016-12-31 5,954.33 152.26 1,253.72 227.61
2016-09-30 6,239.42 184.42 1,260.00 235.73
2016-06-30 6,524.52 216.58 1,266.28 243.86
2016-03-31 6,647.70 214.73 1,287.74 237.39
2015-12-31 6,770.89 212.88 1,309.19 230.92
2015-09-30 6,912.93 200.22 1,309.47 215.81
2015-06-30 7,054.97 187.56 1,309.75 200.70
2015-03-31 6,894.09 169.31 1,304.48 196.84
2014-12-31 6,733.21 151.06 1,299.20 192.99
2014-09-30 6,657.48 66.66 1,314.20 210.24
2014-06-30 6,581.75 -17.74 1,329.19 227.49
2014-03-31 6,151.18 -129.23 1,311.82 217.33
2013-12-31 5,720.60 -240.72 1,294.45 207.16
2013-09-30 5,812.18 -216.40 1,310.10 234.89
2013-06-30 5,903.76 -192.08 1,325.75 262.63
2013-03-31 6,118.31 -197.22 1,367.07 319.70
2012-12-31 6,332.87 -202.36 1,408.39 376.77
2012-09-30 6,366.75 -10.73 1,409.53 411.67
2012-06-30 6,400.63 180.90 1,410.68 446.57

*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.
  • It is difficult to establish if Comba Telecom Systems Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Comba Telecom Systems Holdings has efficiently used its assets last year compared to the HK Communications industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Comba Telecom Systems Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Comba Telecom Systems Holdings'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 Communications 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.
Comba Telecom Systems Holdings has a total score of 0/6, 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 Comba Telecom Systems Holdings'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 Comba Telecom Systems Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Comba Telecom Systems Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Comba Telecom Systems Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Comba Telecom Systems Holdings'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.4x 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 Comba Telecom Systems Holdings Company Filings, last reported 4 months ago.

SEHK:2342 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,805.61 2,000.06 2,073.24
2018-09-30 3,805.61 2,000.06 2,073.24
2018-06-30 4,174.18 2,082.10 1,012.25
2018-03-31 4,174.18 2,082.10 1,012.25
2017-12-31 4,331.49 1,582.38 1,348.09
2017-09-30 4,331.49 1,582.38 1,348.09
2017-06-30 3,707.44 1,403.15 768.54
2017-03-31 3,707.44 1,403.15 768.54
2016-12-31 3,493.15 1,366.81 1,563.39
2016-09-30 3,493.15 1,366.81 1,563.39
2016-06-30 3,675.12 1,097.40 1,012.06
2016-03-31 3,675.12 1,097.40 1,012.06
2015-12-31 3,711.79 1,370.83 1,879.51
2015-09-30 3,711.79 1,370.83 1,879.51
2015-06-30 3,836.02 1,661.10 918.68
2015-03-31 3,836.02 1,661.10 918.68
2014-12-31 3,765.96 1,651.02 1,375.85
2014-09-30 3,765.96 1,651.02 1,375.85
2014-06-30 3,722.27 1,555.52 791.52
2014-03-31 3,722.27 1,555.52 791.52
2013-12-31 3,727.89 1,558.08 1,681.03
2013-09-30 3,727.89 1,558.08 1,681.03
2013-06-30 3,757.35 1,585.88 864.17
2013-03-31 3,757.35 1,585.88 864.17
2012-12-31 3,862.16 1,558.66 1,573.24
2012-09-30 3,862.16 1,558.66 1,573.24
2012-06-30 3,793.91 1,527.10 687.94
  • Comba Telecom Systems Holdings's level of debt (52.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (41.8% vs 52.6% today).
  • Debt is well covered by operating cash flow (41.3%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Comba Telecom Systems Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Comba Telecom Systems Holdings'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. Comba Telecom Systems Holdings has a total score of 3/6, 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 Comba Telecom Systems Holdings'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%
Current annual income from Comba Telecom Systems Holdings dividends.
If you bought HK$2,000 of Comba Telecom Systems Holdings shares you are expected to receive HK$0 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?
  • Unable to evaluate Comba Telecom Systems Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Comba Telecom Systems Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:2342 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 1 Analyst Estimates (S&P Global) See Below
Hong Kong Communications Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 3.7%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 Stocks 3.7%
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 5.8%

Industry and Market average data is calculated daily.

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

SEHK:2342 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
SEHK:2342 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2018-09-14 0.000 0.000
2018-08-22 0.000 0.000
2018-04-24 0.000 0.000
2018-03-22 0.000 0.000
2017-09-15 0.000 0.000
2017-08-24 0.000 0.000
2017-04-24 0.022 1.954
2016-05-27 0.030 2.300
2015-09-15 0.021 1.802
2015-08-20 0.021 1.791
2015-06-03 0.018 1.219
2014-09-17 0.015 0.815
2014-08-21 0.015 0.688
2013-09-13 0.000 0.000
2013-08-23 0.000 0.000
2013-03-22 0.000 0.000
2012-09-10 0.000 0.000
2012-08-22 0.000 0.000
2012-04-16 0.075 4.168
2012-03-21 0.075 2.688
2011-03-25 0.076 1.867
2010-08-23 0.072 1.485
2010-03-31 0.075 1.611
2009-09-17 0.051 1.293
2009-09-02 0.051 1.740

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

  • Unable to perform a dividend volatility check as Comba Telecom Systems Holdings has not reported any payouts.
  • Unable to verify if Comba Telecom Systems Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Comba Telecom Systems Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Comba Telecom Systems Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Comba Telecom Systems Holdings'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 Comba Telecom Systems Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Comba Telecom Systems Holdings 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 Comba Telecom Systems Holdings'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
Tony Fok
COMPENSATION HK$5,412,000
AGE 61
CEO Bio

Mr. Tung Ling Fok, also known as Tony, co-founded Comba Telecom Systems Holdings Ltd. in 1997 and serves as its Chairman and Managing Director. Previously, Mr. Fok served as the President of Comba Telecom Systems Holdings Ltd., until September 30, 2011. He is primarily responsible for its Overall Strategic Planning, Management and Business Development. He has over 20 years of experience in wireless communications. From 1982 to 1987, he was an Engineer in Microwave Telecommunications Main Station of Guangdong Bureau Post and Telecommunications. Prior to 1991, he served as an Executive at China Electronics Import-Export Corporation, South China Branch involved in the import and export of electronic products. From 1991 to 1997, Mr. Fok was engaged in the trading of telecommunications and electronic equipment and components. He serves as a Director of Prime Choice Investments Limited. In 1986, he Graduated from the Beijing University of Post and Telecommunications majoring microwave communications.

CEO Compensation
  • Tony's compensation has increased whilst company is loss making.
  • Tony's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Comba Telecom Systems Holdings management team in years:

2.1
Average Tenure
49.5
Average Age
  • The tenure for the Comba Telecom Systems Holdings management team is about average.
Management Team

Tony Fok

TITLE
Chairman & MD
COMPENSATION
HK$5M
AGE
61

Yue Jun Zhang

TITLE
Vice Chairman
COMPENSATION
HK$6M
AGE
59

Simon Yeung

TITLE
Senior Advisor to Chairman
COMPENSATION
HK$7M
AGE
45
TENURE
1 yrs

Huijun Xu

TITLE
President & Executive Director
AGE
45
TENURE
0.4 yrs

Ken Chang

TITLE
Group CFO & Executive Director
AGE
43
TENURE
2.6 yrs

Xue Li

TITLE
VP & GM of Audit & Legal Center
AGE
45
TENURE
2.1 yrs

Tie Long Wu

TITLE
Senior VP
AGE
54
TENURE
2.3 yrs

Rui Luo

TITLE
VP & GM of Human Resource Center
AGE
43

Sui Chen

TITLE
Senior Vice President
AGE
54

Bin Long Bu

TITLE
Senior VP
AGE
55
Board of Directors Tenure

Average tenure and age of the Comba Telecom Systems Holdings board of directors in years:

1.1
Average Tenure
57
Average Age
  • The average tenure for the Comba Telecom Systems Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tony Fok

TITLE
Chairman & MD
COMPENSATION
HK$5M
AGE
61

Yue Jun Zhang

TITLE
Vice Chairman
COMPENSATION
HK$6M
AGE
59

Huijun Xu

TITLE
President & Executive Director
AGE
45
TENURE
0.8 yrs

Ken Chang

TITLE
Group CFO & Executive Director
AGE
43
TENURE
1.3 yrs

Tie Long Wu

TITLE
Senior VP
AGE
54
TENURE
1.1 yrs

Bin Long Bu

TITLE
Senior VP
AGE
55
TENURE
1.1 yrs

Xinru Huo

TITLE
Executive Director
AGE
34
TENURE
0.2 yrs

Kevin Lau

TITLE
Independent Non-Executive Director
COMPENSATION
HK$248K
AGE
60
TENURE
16.1 yrs

Jin Tong Lin

TITLE
Independent Non-Executive Director
COMPENSATION
HK$248K
AGE
72
TENURE
7 yrs

Estella Ng

TITLE
Independent Non-Executive Director
AGE
61
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
01. Feb 19 Buy Fei Fu Chang Individual 15. Jan 19 15. Jan 19 2,000,000 HK$1.74 HK$3,480,008
01. Feb 19 Buy Bin Long Bu Individual 15. Jan 19 15. Jan 19 2,000,000 HK$1.74 HK$3,480,008
01. Feb 19 Sell Tung Ling Fok Individual 15. Jan 19 15. Jan 19 -69,980,000 HK$1.74 HK$-121,765,463
18. Jan 19 Buy Tie Long Wu Individual 15. Jan 19 15. Jan 19 1,600,000 HK$1.74 HK$2,784,006
18. Jan 19 Buy Huijun Xu Individual 15. Jan 19 15. Jan 19 5,000,000 HK$1.74 HK$8,700,019
24. Sep 18 Buy Huijun Xu Individual 19. Sep 18 19. Sep 18 5,000,000 HK$1.29 HK$6,449,993
24. Sep 18 Sell Tung Ling Fok Individual 19. Sep 18 19. Sep 18 -5,000,000 HK$1.29 HK$-6,449,993
X
Management checks
We assess Comba Telecom Systems Holdings'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. Comba Telecom Systems Holdings 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

Have Insiders Been Selling Comba Telecom Systems Holdings Limited (HKG:2342) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Comba Telecom Systems Holdings Limited (HKG:2342). … Check out our latest analysis for Comba Telecom Systems Holdings Comba Telecom Systems Holdings Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the Chairman & MD, Tung Ling Fok, sold HK$122m worth of shares at a price of HK$1.74 per share. … While we feel good about high insider ownership of Comba Telecom Systems Holdings, we can't say the same about the selling of shares.

Simply Wall St -

Can We See Significant Insider Ownership On The Comba Telecom Systems Holdings Limited (HKG:2342) Share Register?

The big shareholder groups in Comba Telecom Systems Holdings Limited (HKG:2342) have power over the company. … Comba Telecom Systems Holdings is a smaller company with a market capitalization of HK$5.1b, so it may still be flying under the radar of many institutional investors. … Check out our latest analysis for Comba Telecom Systems Holdings

Simply Wall St -

Investors Who Bought Comba Telecom Systems Holdings (HKG:2342) Shares Three Years Ago Are Now Up 88%

Given that Comba Telecom Systems Holdings didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. … When a company doesn't make profits, we'd generally expect to see good revenue growth. … In the last 3 years Comba Telecom Systems Holdings saw its revenue shrink by 10% per year.

Simply Wall St -

What does Comba Telecom Systems Holdings Limited's (HKG:2342) Balance Sheet Tell Us About Its Future?

Comba Telecom Systems Holdings Limited (HKG:2342) is a small-cap stock with a market capitalization of HK$5.3b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Companies operating in the Communications industry,

Simply Wall St -

Need To Know: Comba Telecom Systems Holdings Limited (HKG:2342) Insiders Have Been Buying Shares

So shareholders might well want to know whether insiders have been buying or selling shares in Comba Telecom Systems Holdings Limited (HKG:2342). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Comba Telecom Systems Holdings Insider Transactions Over The Last Year.

Simply Wall St -

Do Directors Own Comba Telecom Systems Holdings Limited (HKG:2342) Shares?

A look at the shareholders of Comba Telecom Systems Holdings Limited (HKG:2342) can tell us which group is most powerful. … With a market capitalization of HK$3.0b, Comba Telecom Systems Holdings is a small cap stock, so it might not be well known by many institutional investors. … See our latest analysis for Comba Telecom Systems Holdings

Simply Wall St -

Are Comba Telecom Systems Holdings Limited's (HKG:2342) Interest Costs Too High?

Comba Telecom Systems Holdings Limited (HKG:2342) is a small-cap stock with a market capitalization of HK$2.5b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is

Simply Wall St -

What Should Investors Know About Comba Telecom Systems Holdings Limited's (HKG:2342) Return On Capital?

and want a simplistic look at the return on Comba Telecom Systems Holdings Limited (HKG:2342) stock. … Thus, to understand how your money can grow by investing in Comba Telecom Systems Holdings, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE) … Comba Telecom Systems Holdings's Return On Capital Employed

Simply Wall St -

Who Are The Major Shareholders In Comba Telecom Systems Holdings Limited (HKG:2342)?

In this analysis, my focus will be on developing a perspective on Comba Telecom Systems Holdings Limited’s (HKG:2342) latest ownership structure, a less discussed, but important factor. … Therefore, it is beneficial for us to examine 2342's ownership structure in more detail. … View our latest analysis for Comba Telecom Systems Holdings

Simply Wall St -

Does Comba Telecom Systems Holdings Limited's (HKG:2342) PE Ratio Signal A Selling Opportunity?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to better understand how you can grow your money by investing in Comba Telecom Systems Holdings Limited (HKG:2342). … Comba Telecom Systems Holdings Limited (HKG:2342) trades with a trailing P/E of 96.6x, which is higher than the industry average of 13.9x.

Simply Wall St -

Company Info

Description

Comba Telecom Systems Holdings Limited, an investment holding company, researches, develops, manufactures, and sells wireless telecommunications network system equipment and related engineering services. It operates through two segments, Wireless Telecommunications Network System Equipment and Telecommunication Services. The company offers base station and indoor antennas; RET systems; RF products, such as filters, combiners and couplers, smart bias tees, dummy loads, power splitters, and modular multiple operator combiners. It also provides wireless access products comprising small cell gateways, network management and polycell systems, and enterprise small cells; and wireless broadband solutions, including access points and controllers, CPEs, PoE switches, etc.; and core network and terminal devices to MMO, WISP, and enterprise customers. In addition, the company offers wireless enhancement products comprising RF repeaters; distributed antennas system (DAS) products; and CMS, OMT, and Mobile AppOMT software products. Further, it provides wireless transmission systems, including portable, vehicle, and shipboard antennas; and microwave transmission systems, comprising couplers, full outdoor and split systems, microwave antennas, and OMT for use in emergency mobile station, small cell, live video command, and maritime communication backhaul. Additionally, the company offers consultancy, DAS network design, drive test and benchmarking, maintenance, managed, network data analysis and optimization, and training services; and software technology and marketing, technical support, repair, trading, general, assembly, and related value-added services. It serves the airport, education, government and public safety, healthcare, hospitality, retail, stadium, and transportation industries in Mainland China, rest of Asia Pacific, the Americas, the European Union, the Middle East, and internationally. The company was founded in 1995 and is headquartered in Tai Po, Hong Kong.

Details
Name: Comba Telecom Systems Holdings Limited
2342
Exchange: SEHK
Founded: 1995
HK$3,756,939,868
2,439,571,343
Website: http://www.comba-telecom.com
Address: Comba Telecom Systems Holdings Limited
611 East Wing,
No. 8 Science Park West Avenue,
Tai Po,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2342 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 15. Jul 2003
OTCPK COBJ.F Ordinary Shares Pink Sheets LLC US USD 15. Jul 2003
DB COA1 Ordinary Shares Deutsche Boerse AG DE EUR 15. Jul 2003
Number of employees
Current staff
Staff numbers
6,717
Comba Telecom Systems Holdings employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 12:42
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/04/24
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.