SEHK:482

Stock Analysis Report

Sandmartin International Holdings

Executive Summary

Sandmartin International Holdings Limited, an investment holding company, engages in the manufacture and trading of satellite TV equipment products and other electronic goods.

Risk Analysis

Has less than 1 year of cash runway

Currently unprofitable and not forecast to become profitable over the next 3 years

Highly volatile share price over past 3 months

Does not have a meaningful market cap (HK$308M)



Snowflake Analysis

Overvalued with worrying balance sheet.

Share Price & News

How has Sandmartin International Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 482's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.1%

482

3.9%

HK Communications

-1.4%

HK Market


1 Year Return

16.5%

482

12.7%

HK Communications

3.5%

HK Market

Return vs Industry: 482 exceeded the Hong Kong Communications industry which returned 10.9% over the past year.

Return vs Market: 482 exceeded the Hong Kong Market which returned 6.4% over the past year.


Shareholder returns

482IndustryMarket
7 Day1.1%3.9%-1.4%
30 Day31.4%12.9%1.8%
90 Day37.3%31.1%6.0%
1 Year16.5%16.5%15.6%12.7%7.3%3.5%
3 Year-55.1%-55.1%31.1%20.1%23.3%10.8%
5 Year-75.8%-75.8%24.1%5.5%19.2%-0.7%

Price Volatility Vs. Market

How volatile is Sandmartin International Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Sandmartin International Holdings undervalued compared to its fair value and its price relative to the market?

0.62x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 482's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 482's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 482 is unprofitable, so we can't compare its PE Ratio to the Communications industry average.

PE vs Market: 482 is unprofitable, so we can't compare its PE Ratio to the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 482's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 482 is good value based on its PB Ratio (0.6x) compared to the HK Communications industry average (1.3x).


Next Steps

Future Growth

How is Sandmartin International Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

18.6%

Forecasted Tech industry annual growth in earnings


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

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


Next Steps

Past Performance

How has Sandmartin International Holdings performed over the past 5 years?

15.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 482 is currently unprofitable.

Growing Profit Margin: 482 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 482 is unprofitable, but has reduced losses over the past 5 years at a rate of 15.1% per year.

Accelerating Growth: Unable to compare 482's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 482 is unprofitable, making it difficult to compare its past year earnings growth to the Communications industry (-5.7%).


Return on Equity

High ROE: 482 has a negative Return on Equity (-43.09%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Sandmartin International Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 482's short term assets (HK$920.2M) do not cover its short term liabilities (HK$1.1B).

Long Term Liabilities: 482's short term assets (HK$920.2M) exceed its long term liabilities (HK$62.0M).


Debt to Equity History and Analysis

Debt Level: 482's debt to equity ratio (86.4%) is considered high.

Reducing Debt: 482's debt to equity ratio has increased from 49.4% to 86.4% over the past 5 years.


Balance Sheet

Inventory Level: 482 has a high level of physical assets or inventory.

Debt Coverage by Assets: 482's debt is covered by short term assets (assets are 1.9x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 482 has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: 482 has less than a year of cash runway if free cash flow continues to grow at historical rates of 0.2% each year.


Next Steps

Dividend

What is Sandmartin International Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.2%markettop25%6.1%industryaverage2.7%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 482's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 482's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 482's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 482's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 482 is not paying a notable dividend for the Hong Kong market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 482's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

What is the CEO of Sandmartin International Holdings's salary, the management and board of directors tenure and is there insider trading?

4.7yrs

Average management tenure


CEO

Carlos Bujosa (55yo)

0yrs

Tenure

0

Carlos Domingo Bujosa has been Executive Director of BCN Distribuciones, S.A. ("BCN") of Sandmartin International Holdings Ltd since 1988. After the acquisition of BCN by Sandmartin International Holdings  ...


Management Age and Tenure

4.7yrs

Average Tenure

57yo

Average Age

Experienced Management: 482's management team is considered experienced (4.7 years average tenure).


Board Age and Tenure

3.9yrs

Average Tenure

52.5yo

Average Age

Experienced Board: 482's board of directors are considered experienced (3.9 years average tenure).


Insider Trading

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.


Management Team

  • Gibson Wang (56yo)

    Co-Founder

    • Tenure: 30.2yrs
    • Compensation: HK$865.00k
  • Eric Hung (58yo)

    Co-Founder

    • Tenure: 15.9yrs
    • Compensation: HK$1.53m
  • Carmen Chen (57yo)

    Co-Founder & CEO of Satellite Broadcasting Service Business Division

    • Tenure: 30.2yrs
    • Compensation: HK$1.39m
  • Carlos Bujosa (55yo)

    Chief Executive Officer of BCN Distribuciones S A

    • Frank Fischer (59yo)

      Group VP & Group CTO

      • Compensation: HK$1.35m
    • James Crownover (59yo)

      Chief Executive Officer of Pro Brand International Inc

      • Winnie Tung (47yo)

        Company Secretary

        • Tenure: 0.2yrs
      • Chien An Chen (60yo)

        Consultant

        • Tenure: 2.4yrs
        • Compensation: HK$1.02m
      • Wei Chen (43yo)

        CFO & Executive Director

        • Tenure: 4.4yrs
        • Compensation: HK$662.00k
      • Justin Su

        Chief Human Officer and Vice President of Purchasing Department

        • Tenure: 7yrs

      Board Members

      • Brent Lau (58yo)

        Independent Chairman

        • Tenure: 2.4yrs
        • Compensation: HK$140.00k
      • Chak Hung Li (54yo)

        Independent Non-Executive Director

        • Tenure: 3.3yrs
        • Compensation: HK$88.00k
      • Eric Hung (58yo)

        Co-Founder

        • Tenure: 15.9yrs
        • Compensation: HK$1.53m
      • Chia Ming Wu (51yo)

        Independent Non-Executive Director

        • Tenure: 5.1yrs
        • Compensation: HK$88.00k
      • Wei Chen (43yo)

        CFO & Executive Director

        • Tenure: 4.4yrs
        • Compensation: HK$662.00k
      • Jen-Hao Kuo (42yo)

        Non-Executive Director

        • Tenure: 2.4yrs
        • Compensation: HK$88.00k

      Company Information

      Sandmartin International Holdings Limited's company bio, employee growth, exchange listings and data sources


      Key Information

      • Name: Sandmartin International Holdings Limited
      • Ticker: 482
      • Exchange: SEHK
      • Founded: 1987
      • Industry: Communications Equipment
      • Sector: Tech
      • Market Cap: HK$301.652m
      • Shares outstanding: 3.28b
      • Website: https://www.sandmartin.com.hk

      Number of Employees


      Location

      • Sandmartin International Holdings Limited
      • Nam Wo Hong Building
      • Units 04-05
      • Sheung Wan
      • Hong Kong

      Listings

      TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
      482SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJul 2005
      TQGDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2005
      910482TSEC (Taiwan Stock Exchange)TDR EACH REPR 1 ORD SHSTWTWDDec 2009

      Biography

      Sandmartin International Holdings Limited, an investment holding company, engages in the manufacture and trading of satellite TV equipment products and other electronic goods. It operates through Media Entertainment Platform Related Products; Other Multimedia Products; Integration of Signal System and Traffic Communication Network; Satellite TV Equipment and Antenna Products; and Satellite TV Broadcasting segments. The company manufactures and trades in media entertainment platform related products used for satellite products equipment; components of audio and video electronic products, such as cable lines; and satellite TV equipment and antenna products. It is also involved in the installation and integration of signal systems and traffic communication networks; and provision of direct-to-home services for satellite TV broadcasting. In addition, the company trades in optical fiber products; and offers services for integration system of public programs. It has operations in Asia, Europe, North America, the Middle East, Africa, South America, and internationally. Sandmartin International Holdings Limited was founded in 1987 and is headquartered in Sheung Wan, Hong Kong. 


      Company Analysis and Financial Data Status

      All financial data provided by Standard & Poor's Capital IQ.
      DataLast Updated (UTC time)
      Company Analysis2020/01/23 12:48
      End of Day Share Price2020/01/22 00:00
      Earnings2019/06/30
      Annual Earnings2018/12/31


      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.