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Yorkey Optical International (Cayman)

SEHK:2788
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2788
SEHK
HK$976M
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Yorkey Optical International (Cayman) Ltd., an investment holding company, manufactures and sells plastic and metallic parts, components of optical and opto-electronic products, and molds and cases in Japan, the People's Republic of China, and internationally. The last earnings update was 28 days ago. More info.


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2788 Share Price and Events
7 Day Returns
-0.8%
SEHK:2788
-9.8%
HK Electronic
-3.5%
HK Market
1 Year Returns
-9.2%
SEHK:2788
-42.6%
HK Electronic
-16.8%
HK Market
2788 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yorkey Optical International (Cayman) (2788) -0.8% -3.3% -4.1% -9.2% 15.7% 47.5%
HK Electronic -9.8% -20.6% -15.1% -42.6% 2.1% 18.2%
HK Market -3.5% -9.6% -4.2% -16.8% 24.6% 7.2%
1 Year Return vs Industry and Market
  • 2788 outperformed the Electronic industry which returned -42.6% over the past year.
  • 2788 outperformed the Market in Hong Kong which returned -16.8% over the past year.
Price Volatility
2788
Industry
5yr Volatility vs Market

Value

 Is Yorkey Optical International (Cayman) 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 Yorkey Optical International (Cayman) 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 Yorkey Optical International (Cayman).

SEHK:2788 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.9%
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:2788
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.046 (1 + (1- 25%) (0%))
1.031
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.031 * 6.65%)
8.86%

Discounted Cash Flow Calculation for SEHK:2788 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Yorkey Optical International (Cayman) 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:2788 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.86%)
2019 5.17 Est @ -10.4% 4.75
2020 4.83 Est @ -6.68% 4.07
2021 4.63 Est @ -4.07% 3.59
2022 4.53 Est @ -2.25% 3.22
2023 4.48 Est @ -0.97% 2.93
2024 4.48 Est @ -0.08% 2.69
2025 4.50 Est @ 0.54% 2.49
2026 4.55 Est @ 0.98% 2.31
2027 4.60 Est @ 1.29% 2.15
2028 4.67 Est @ 1.5% 2.00
Present value of next 10 years cash flows $30.19
SEHK:2788 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $4.67 × (1 + 2%) ÷ (8.86% – 2%)
$69.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $69.56 ÷ (1 + 8.86%)10
$29.77
SEHK:2788 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $30.19 + $29.77
$59.96
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $59.96 / 820.54
$0.07
SEHK:2788 Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:2788)
7.85
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $0.07 x 7.85
HK$0.57
Value per share (HKD) From above. HK$0.57
Current discount Discount to share price of HK$1.18
= -1 x (HK$1.18 - HK$0.57) / HK$0.57
-105.7%

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

  • The current share price of Yorkey Optical International (Cayman) is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Yorkey Optical International (Cayman)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yorkey Optical International (Cayman)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2788 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.01
SEHK:2788 Share Price ** SEHK (2019-05-21) in HKD HK$1.18
SEHK:2788 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.127 $0.15
Hong Kong Electronic Industry PE Ratio Median Figure of 59 Publicly-Listed Electronic Companies 11.13x
Hong Kong Market PE Ratio Median Figure of 1,477 Publicly-Listed Companies 11.08x

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

** Primary Listing of Yorkey Optical International (Cayman).

SEHK:2788 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2788 Share Price ÷ EPS (both in USD)

= 0.15 ÷ 0.01

16.01x

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

  • Yorkey Optical International (Cayman) is overvalued based on earnings compared to the HK Electronic industry average.
  • Yorkey Optical International (Cayman) is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Yorkey Optical International (Cayman)'s expected growth come at a high price?
Raw Data
SEHK:2788 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
8.5%per year
Hong Kong Electronic Industry PEG Ratio Median Figure of 13 Publicly-Listed Electronic Companies 0.61x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.79x

*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 Yorkey Optical International (Cayman), we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Yorkey Optical International (Cayman)'s assets?
Raw Data
SEHK:2788 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.12
SEHK:2788 Share Price * SEHK (2019-05-21) in HKD HK$1.18
SEHK:2788 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.127 $0.15
Hong Kong Electronic Industry PB Ratio Median Figure of 83 Publicly-Listed Electronic Companies 1.19x
Hong Kong Market PB Ratio Median Figure of 2,156 Publicly-Listed Companies 0.97x
SEHK:2788 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2788 Share Price ÷ Book Value per Share (both in USD)

= 0.15 ÷ 0.12

1.22x

* Primary Listing of Yorkey Optical International (Cayman).

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

  • Yorkey Optical International (Cayman) is overvalued based on assets compared to the HK Electronic industry average.
X
Value checks
We assess Yorkey Optical International (Cayman)'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Yorkey Optical International (Cayman) has a total score of 0/6, 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 Yorkey Optical International (Cayman) expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Yorkey Optical International (Cayman), future earnings growth has been estimated based on fundamentals.
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
8.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yorkey Optical International (Cayman) expected to grow at an attractive rate?
  • Yorkey Optical International (Cayman)'s earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Yorkey Optical International (Cayman)'s earnings growth is expected to exceed the Hong Kong market average.
  • Unable to compare Yorkey Optical International (Cayman)'s revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2788 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2788 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 8.5%
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18.3%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.8%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -5.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.7%

*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:2788 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2788 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:2788 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 70 7 8
2018-09-30 72 8 7
2018-06-30 75 9 6
2018-03-31 81 12 6
2017-12-31 87 16 6
2017-09-30 87 15 6
2017-06-30 87 14 5
2017-03-31 80 12 5
2016-12-31 73 10 5
2016-09-30 73 12 4
2016-06-30 73 14 4
2016-03-31 75 14 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Yorkey Optical International (Cayman)'s earnings are expected to grow by 8.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Yorkey Optical International (Cayman) is high growth as no revenue estimate data is available.
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:2788 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 0 Analyst Estimates (S&P Global) See Below

All data from Yorkey Optical International (Cayman) Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2788 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:2788 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.01
2018-09-30 0.01
2018-06-30 0.01
2018-03-31 0.01
2017-12-31 0.01
2017-09-30 0.01
2017-06-30 0.01
2017-03-31 0.01
2016-12-31 0.01
2016-09-30 0.01
2016-06-30 0.00
2016-03-31 0.00

*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.
  • Unable to establish if Yorkey Optical International (Cayman) will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Yorkey Optical International (Cayman)'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.
Yorkey Optical International (Cayman) has a total score of 2/6, 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 Yorkey Optical International (Cayman) 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 Yorkey Optical International (Cayman)'s growth in the last year to its industry (Electronic).
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.
  • Yorkey Optical International (Cayman)'s year on year earnings growth rate has been positive over the past 5 years.
  • Yorkey Optical International (Cayman)'s 1-year earnings growth exceeds its 5-year average (33.4% vs 6.5%)
  • Yorkey Optical International (Cayman)'s earnings growth has exceeded the HK Electronic industry average in the past year (33.4% vs -4.6%).
Earnings and Revenue History
Yorkey Optical International (Cayman)'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 Yorkey Optical International (Cayman) Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2788 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 69.70 7.71 11.23 1.53
2018-09-30 72.46 6.74 12.21 1.50
2018-06-30 75.22 5.77 13.19 1.47
2018-03-31 81.27 5.78 13.99 1.50
2017-12-31 87.33 5.78 14.78 1.52
2017-09-30 86.95 5.53 14.60 1.59
2017-06-30 86.57 5.28 14.42 1.65
2017-03-31 80.03 4.98 13.84 1.70
2016-12-31 73.49 4.67 13.26 1.74
2016-09-30 73.37 4.32 13.07 1.73
2016-06-30 73.26 3.97 12.88 1.73
2016-03-31 75.40 4.00 13.28 1.72
2015-12-31 77.55 4.03 13.67 1.72
2015-09-30 80.36 4.10 14.15 1.70
2015-06-30 83.16 4.16 14.64 1.69
2015-03-31 83.81 4.63 14.56 1.72
2014-12-31 84.45 5.10 14.49 1.76
2014-09-30 85.92 6.36 14.09 1.83
2014-06-30 87.38 7.62 13.68 1.91
2014-03-31 85.84 5.09 13.99 1.90
2013-12-31 84.29 2.57 14.29 1.89
2013-09-30 82.44 -0.07 14.97 1.95
2013-06-30 80.58 -2.70 15.65 2.01
2013-03-31 86.67 -1.32 16.20 2.02
2012-12-31 92.77 0.06 16.76 2.03
2012-09-30 104.11 2.35 17.07 1.93
2012-06-30 115.45 4.64 17.39 1.84

*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.
  • Yorkey Optical International (Cayman) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yorkey Optical International (Cayman) used its assets less efficiently than the HK Electronic industry average last year based on Return on Assets.
  • Yorkey Optical International (Cayman) has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Yorkey Optical International (Cayman)'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 Electronic 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.
Yorkey Optical International (Cayman) has a total score of 4/6, 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 Yorkey Optical International (Cayman)'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 Yorkey Optical International (Cayman)'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Yorkey Optical International (Cayman) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Yorkey Optical International (Cayman) has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Yorkey Optical International (Cayman)'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.
  • Yorkey Optical International (Cayman) has no debt, it does not need to be covered by short term assets.
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 Yorkey Optical International (Cayman) Company Filings, last reported 4 months ago.

SEHK:2788 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 100.83 0.00 93.95
2018-09-30 100.83 0.00 93.95
2018-06-30 101.60 0.00 105.58
2018-03-31 101.60 0.00 105.58
2017-12-31 113.21 0.00 104.83
2017-09-30 113.21 0.00 104.83
2017-06-30 112.84 0.00 115.12
2017-03-31 112.84 0.00 115.12
2016-12-31 118.85 0.00 109.02
2016-09-30 118.85 0.00 109.02
2016-06-30 122.21 0.00 127.02
2016-03-31 122.21 0.00 127.02
2015-12-31 134.64 0.00 123.81
2015-09-30 134.64 0.00 123.81
2015-06-30 140.08 0.00 126.08
2015-03-31 140.08 0.00 126.08
2014-12-31 145.41 0.00 123.52
2014-09-30 145.41 0.00 123.52
2014-06-30 148.09 0.00 125.03
2014-03-31 148.09 0.00 125.03
2013-12-31 150.21 0.00 119.97
2013-09-30 150.21 0.00 119.97
2013-06-30 148.50 0.00 115.33
2013-03-31 148.50 0.00 115.33
2012-12-31 152.61 0.00 114.64
2012-09-30 152.61 0.00 114.64
2012-06-30 155.66 0.00 112.65
  • Yorkey Optical International (Cayman) has no debt.
  • Yorkey Optical International (Cayman) has not taken on any debt in the past 5 years.
  • Yorkey Optical International (Cayman) has no debt, it does not need to be covered by operating cash flow.
  • Yorkey Optical International (Cayman) has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Yorkey Optical International (Cayman)'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. Yorkey Optical International (Cayman) 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 Yorkey Optical International (Cayman)'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
14.41%
Current annual income from Yorkey Optical International (Cayman) dividends.
If you bought HK$2,000 of Yorkey Optical International (Cayman) shares you are expected to receive HK$288 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?
  • Yorkey Optical International (Cayman)'s pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.09%).
  • Yorkey Optical International (Cayman)'s dividend is above the markets top 25% of dividend payers in Hong Kong (5.75%).
Upcoming dividend payment

Purchase Yorkey Optical International (Cayman) before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:2788 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Electronic Industry Average Dividend Yield Market Cap Weighted Average of 39 Stocks 3.1%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 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 5.8%

Industry and Market average data is calculated daily.

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

SEHK:2788 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
SEHK:2788 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-20 0.022 13.924
2018-08-07 0.022 14.753
2018-03-23 0.022 12.802
2017-08-04 0.022 12.169
2017-04-25 0.022 13.394
2016-08-09 0.022 16.272
2016-04-26 0.022 16.228
2015-08-26 0.014 11.387
2015-04-30 0.014 10.524
2014-08-21 0.009 7.597
2014-08-05 0.009 7.374
2014-06-13 0.010 8.434
2014-04-24 0.010 9.229
2014-03-17 0.010 8.902
2013-08-22 0.009 9.478
2013-08-07 0.009 9.535
2013-06-10 0.000 0.000
2012-09-10 0.010 10.696
2012-08-16 0.010 9.821
2012-03-16 0.012 10.442
2011-08-25 0.000 0.078
2011-03-10 0.011 7.411
2010-08-26 0.009 4.819
2010-04-26 0.010 4.905
2010-03-10 0.010 4.696
2009-09-07 0.022 9.707

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Yorkey Optical International (Cayman)'s earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
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 Yorkey Optical International (Cayman)'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 Yorkey Optical International (Cayman) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yorkey Optical International (Cayman) has a total score of 3/6, 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 Yorkey Optical International (Cayman)'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
Toshihiko Kurihara
COMPENSATION $176,388
AGE 64
TENURE AS CEO 2.2 years
CEO Bio

Mr. Toshihiko Kurihara has been Chief Executive Officer and Executive Director of Yorkey Optical International (Cayman) Ltd. since March 10, 2017. Mr. Kurihara serves as Deputy General Manager of Dongguan Yorkey Optical Machinery Components Ltd. He joined Yorkey Group in July 2016. He has over 30 years of experience in the optical disk pickup industry. Prior to joining the Yorkey Group, he has served various positions in Pioneer Corporation (Pioneer), a company listed in Japan which manufactures and sells audio and video equipment for household, industrial and automobile use. He joined Pioneer in 1977 and had served in many managerial positions in the pickup development and sales department of Pioneer from April 1992 to September 2009. From October 2009 to April 2012, Mr. Kurihara served as the Chief Executive Officer of Pioneer Digital Design and Manufacturing Corporation. He served as an Executive Officer of Pioneer Corporation from June 2012 to June 2015. Mr. Kurihara was a consultant of Pioneer from June 2015 to June 2016. Mr. Kurihara graduated from Sophia University with a major in Mechanical Engineering.

CEO Compensation
  • Insufficient data for Toshihiko to compare compensation growth.
  • Toshihiko's remuneration is about average for companies of similar size in Hong Kong.
Management Team

I-Jen Lai

TITLE
Chairman
COMPENSATION
$15K
AGE
69

Toshihiko Kurihara

TITLE
CEO & Executive Director
COMPENSATION
$176K
AGE
64
TENURE
2.2 yrs

Li-Li Liang

TITLE
Senior Manager of Finance Department
AGE
41

Sun-Ko Chan

TITLE
Head of Sales & Marketing
AGE
49

Ya-Juan Tan

TITLE
Head of Cases & Bags Department
AGE
42

Zhigang Zou

TITLE
Head of Assembly Department
AGE
61

Winnie Lui

TITLE
Company Secretary
TENURE
0.1 yrs
Board of Directors Tenure

Average tenure and age of the Yorkey Optical International (Cayman) board of directors in years:

4
Average Tenure
50.5
Average Age
  • The tenure for the Yorkey Optical International (Cayman) board of directors is about average.
Board of Directors

I-Jen Lai

TITLE
Chairman
COMPENSATION
$15K
AGE
69
TENURE
5.8 yrs

Toshihiko Kurihara

TITLE
CEO & Executive Director
COMPENSATION
$176K
AGE
64
TENURE
2.2 yrs

Meng-Tsung Lin

TITLE
Independent Non-Executive Director
COMPENSATION
$8K
AGE
44
TENURE
1.9 yrs

Shu-Ping Wu

TITLE
Non-Executive Director
COMPENSATION
$15K
AGE
55
TENURE
13.4 yrs

Yi-Chi Wang

TITLE
Independent Non-Executive Director
COMPENSATION
$15K
AGE
46
TENURE
7 yrs

Wei-Li Liu

TITLE
Independent Non-Executive Director
COMPENSATION
$11K
AGE
37
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Yorkey Optical International (Cayman)'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. Yorkey Optical International (Cayman) 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

Do Directors Own Yorkey Optical International (Cayman) Ltd. (HKG:2788) Shares?

Check out our latest analysis for Yorkey Optical International (Cayman) SEHK:2788 Ownership Summary, May 13th 2019 What Does The Institutional Ownership Tell Us About Yorkey Optical International (Cayman)? … Insider Ownership Of Yorkey Optical International (Cayman) The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … Our most recent data indicates that insiders own some shares in Yorkey Optical International (Cayman) Ltd..

Simply Wall St -

Did Yorkey Optical International (Cayman) Ltd.'s (HKG:2788) Recent Earnings Growth Beat The Trend?

After reading Yorkey Optical International (Cayman) Ltd.'s (HKG:2788) most recent earnings announcement (31 December 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … I also compare against an industry benchmark to check whether Yorkey Optical International (Cayman)'s performance has been impacted by industry movements. … Check out our latest analysis for Yorkey Optical International (Cayman)?

Simply Wall St -

If You Had Bought Yorkey Optical International (Cayman) (HKG:2788) Shares Five Years Ago You'd Have A Total Return Of 173%

For example, long term Yorkey Optical International (Cayman) Ltd. … Over half a decade, Yorkey Optical International (Cayman) managed to grow its earnings per share at 25% a year. … Dive deeper into Yorkey Optical International (Cayman)'s key metrics by checking this interactive graph of Yorkey Optical International (Cayman)'s earnings, revenue and cash flow.

Simply Wall St -

Is Yorkey Optical International (Cayman) Ltd.'s (HKG:2788) High P/E Ratio A Problem For Investors?

We'll look at Yorkey Optical International (Cayman) Ltd.'s (HKG:2788) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) … P/E of 17.35 = $0.16 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.0094

Simply Wall St -

Yorkey Optical International (Cayman) Ltd. (HKG:2788): Time For A Financial Health Check

(HKG:2788), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … Is 2788 growing fast enough to value financial flexibility over lower cost of capital … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital.

Simply Wall St -

What Type Of Shareholder Owns Yorkey Optical International (Cayman) Ltd.'s (HKG:2788)?

The big shareholder groups in Yorkey Optical International (Cayman) Ltd. … With a market capitalization of HK$968m, Yorkey Optical International (Cayman) is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Yorkey Optical International (Cayman)

Simply Wall St -

Is Yorkey Optical International (Cayman) Ltd.'s (HKG:2788) ROE Of 5.7% Concerning?

We'll use ROE to examine Yorkey Optical International (Cayman) Ltd. … Yorkey Optical International (Cayman) has a ROE of 5.7%, based on the last twelve months. … View our latest analysis for Yorkey Optical International (Cayman)?

Simply Wall St -

Where Yorkey Optical International (Cayman) Ltd. (HKG:2788) Stands In Terms Of Earnings Growth Against Its Industry

Understanding how Yorkey Optical International (Cayman) Ltd. … Today I will run you through a basic sense check to gain perspective on how Yorkey Optical International (Cayman) is doing by comparing its latest earnings with its long-term trend as well as the performance of its electronic industry peers. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 16%, indicating the rate at which 2788 is growing has slowed down

Simply Wall St -

Yorkey Optical International (Cayman) Ltd (HKG:2788): A Look At Return On Capital

and want to better understand how you can grow your money by investing in Yorkey Optical International (Cayman) Ltd (HKG:2788). … Purchasing Yorkey Optical International (Cayman) gives you an ownership stake in the company. … To understand Yorkey Optical International (Cayman)’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

What Investors Should Know About Yorkey Optical International (Cayman) Ltd's (HKG:2788) Financial Strength

Yorkey Optical International (Cayman) Ltd (HKG:2788), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … However, the trade-off is 2788 will have to follow strict debt obligations which will reduce its financial flexibility. … Is financial flexibility worth the lower cost of capital.

Simply Wall St -

Company Info

Description

Yorkey Optical International (Cayman) Ltd., an investment holding company, manufactures and sells plastic and metallic parts, components of optical and opto-electronic products, and molds and cases in Japan, the People's Republic of China, and internationally. Its precision processing products include pressing molds; pressing parts of micro motors; processing components of cameras, and electronic and optical products; and processing components of lead wires, etc. The company also offers plastic injection molding products, such as plastic components of cameras, video cameras, audio products, office machines, microscopes, CD-ROMs, HDDs and FDDs, game players, range finders, binoculars, electronic locks, micro motors, cellular phones, beep pagers, and battery chargers, as well as their components; and precision tooling molds and metal pressing molds for cameras, office machines, optical instruments, etc. In addition, it is involved in the printing and painting of components for cameras, copiers, optical instruments, computer HDDs and FDDs, and other communication equipment; and provision of soft/hard cases and wrist/shoulder strips for photographic equipment, as well as cases for portable computers, mobile phones, and optical appliances. Further, the company provides technical training and after-sales services, as well as holds properties. Yorkey Optical International (Cayman) Ltd. was founded in 1995 and is based in Shatin, Hong Kong.

Details
Name: Yorkey Optical International (Cayman) Ltd.
2788
Exchange: SEHK
Founded: 1995
HK$976,442,600
820,540,000
Website: http://www.yorkey-optical.com
Address: Yorkey Optical International (Cayman) Ltd.
Goldfield Industrial Centre, Block A,
6th Floor,
Shatin,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2788 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 10. Feb 2006
TSEC 9188 TDR EACH REP 1 SH Taiwan Stock Exchange TW TWD 09. Oct 2009
Number of employees
Current staff
Staff numbers
1,960
Yorkey Optical International (Cayman) employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 12:44
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2018/03/23
Last earnings filing: 2019/04/23
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.