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Wong's International Holdings

SEHK:99
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
99
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Wong’s International Holdings Limited, together with its subsidiaries, develops, manufactures, markets, and distributes electronics products in Hong Kong, rest of Asia, North America, and Europe. The last earnings update was 23 days ago. More info.


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99 Share Price and Events
7 Day Returns
3.4%
SEHK:99
-7.4%
HK Electronic
-2.5%
HK Market
1 Year Returns
15.8%
SEHK:99
-40.2%
HK Electronic
-15.9%
HK Market
99 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Wong's International Holdings (99) 3.4% -1.2% 5.3% 15.8% 24.8% 46.5%
HK Electronic -7.4% -18.5% -11.6% -40.2% 4.1% 20.9%
HK Market -2.5% -8.6% -2.1% -15.9% 25.4% 7.8%
1 Year Return vs Industry and Market
  • 99 outperformed the Electronic industry which returned -40.2% over the past year.
  • 99 outperformed the Market in Hong Kong which returned -15.9% over the past year.
Price Volatility
99
Industry
5yr Volatility vs Market

Value

 Is Wong's International 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 Wong's International 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 Wong's International Holdings.

SEHK:99 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 13.6%
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:99
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))
= 1.053 (1 + (1- 25%) (134.14%))
1.746
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.75
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.746 * 6.65%)
13.61%

Discounted Cash Flow Calculation for SEHK:99 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Wong's International 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:99 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 13.61%)
2019 253.95 Est @ 25.6% 223.52
2020 300.99 Est @ 18.52% 233.19
2021 341.83 Est @ 13.57% 233.10
2022 376.35 Est @ 10.1% 225.89
2023 405.22 Est @ 7.67% 214.07
2024 429.41 Est @ 5.97% 199.67
2025 449.93 Est @ 4.78% 184.15
2026 467.69 Est @ 3.95% 168.48
2027 483.42 Est @ 3.36% 153.28
2028 497.71 Est @ 2.96% 138.91
Present value of next 10 years cash flows HK$1,974.26
SEHK:99 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$497.71 × (1 + 2%) ÷ (13.61% – 2%)
HK$4,373.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$4,373.01 ÷ (1 + 13.61%)10
HK$1,220.47
SEHK:99 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,974.26 + HK$1,220.47
HK$3,194.73
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$3,194.73 / 478.48
HK$6.68
SEHK:99 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$6.68
Current discount Discount to share price of HK$3.37
= -1 x (HK$3.37 - HK$6.68) / HK$6.68
49.5%

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

Current Discount
Amount off the current price Wong's International Holdings is available for.
Intrinsic value
50%
Share price is HK$3.37 vs Future cash flow value of HK$6.68
Current Discount Checks
For Wong's International Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Wong's International Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Wong's International 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 Wong's International Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Wong's International Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:99 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$2.97
SEHK:99 Share Price ** SEHK (2019-05-17) in HKD HK$3.37
Hong Kong Electronic Industry PE Ratio Median Figure of 59 Publicly-Listed Electronic Companies 11.11x
Hong Kong Market PE Ratio Median Figure of 1,476 Publicly-Listed Companies 11.17x

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

** Primary Listing of Wong's International Holdings.

SEHK:99 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:99 Share Price ÷ EPS (both in HKD)

= 3.37 ÷ 2.97

1.13x

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

  • Wong's International Holdings is good value based on earnings compared to the HK Electronic industry average.
  • Wong's International Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Wong's International Holdings's expected growth come at a high price?
Raw Data
SEHK:99 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-11.2%per year
Hong Kong Electronic Industry PEG Ratio Median Figure of 13 Publicly-Listed Electronic Companies 0.64x
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 Wong's International Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Wong's International Holdings's assets?
Raw Data
SEHK:99 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$10.07
SEHK:99 Share Price * SEHK (2019-05-17) in HKD HK$3.37
Hong Kong Electronic Industry PB Ratio Median Figure of 83 Publicly-Listed Electronic Companies 1.19x
Hong Kong Market PB Ratio Median Figure of 2,155 Publicly-Listed Companies 0.97x
SEHK:99 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:99 Share Price ÷ Book Value per Share (both in HKD)

= 3.37 ÷ 10.07

0.33x

* Primary Listing of Wong's International Holdings.

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

  • Wong's International Holdings is good value based on assets compared to the HK Electronic industry average.
X
Value checks
We assess Wong's International 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 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. Wong's International Holdings has a total score of 5/6, 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 Wong's International Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Wong's International Holdings, 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
-11.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Wong's International Holdings expected to grow at an attractive rate?
  • Wong's International Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • Wong's International Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Unable to compare Wong's International Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:99 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:99 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -11.2%
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18.4%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
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:99 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 HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:99 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:99 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 4,014 266 1,422
2018-09-30 3,994 186 1,239
2018-06-30 3,983 105 1,057
2018-03-31 3,905 -28 768
2017-12-31 3,818 -162 480
2017-09-30 3,764 -129 437
2017-06-30 3,710 -96 395
2017-03-31 3,624 21 431
2016-12-31 3,537 138 468
2016-09-30 3,535 232 401
2016-06-30 3,533 326 333
2016-03-31 3,672 303 466

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Wong's International Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Wong's International Holdings 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:99 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 Wong's International Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:99 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:99 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 2.97
2018-09-30 2.59
2018-06-30 2.21
2018-03-31 1.61
2017-12-31 1.00
2017-09-30 0.91
2017-06-30 0.82
2017-03-31 0.90
2016-12-31 0.98
2016-09-30 0.84
2016-06-30 0.70
2016-03-31 0.97

*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 Wong's International Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Wong's International 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.
Wong's International Holdings has a total score of 0/6, 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 Wong's International 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 Wong's International Holdings'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.
  • Wong's International Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Wong's International Holdings's 1-year earnings growth exceeds its 5-year average (196.3% vs 23.5%)
  • Wong's International Holdings's earnings growth has exceeded the HK Electronic industry average in the past year (196.3% vs -4.6%).
Earnings and Revenue History
Wong's International 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 Wong's International Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:99 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 4,013.55 1,421.75 499.99
2018-09-30 3,993.64 1,239.36 507.23
2018-06-30 3,982.83 1,056.97 514.48
2018-03-31 3,904.73 768.44 500.67
2017-12-31 3,817.54 479.91 486.87
2017-09-30 3,763.78 437.21 467.61
2017-06-30 3,710.02 394.51 448.35
2017-03-31 3,623.73 431.37 442.51
2016-12-31 3,537.43 468.23 436.67
2016-09-30 3,535.33 400.54 444.55
2016-06-30 3,533.22 332.86 452.44
2016-03-31 3,671.77 465.55 468.82
2015-12-31 3,810.32 598.23 485.21
2015-09-30 3,980.63 766.23 490.52
2015-06-30 4,150.95 934.23 495.84
2015-03-31 4,143.54 775.41 489.03
2014-12-31 4,136.13 616.60 482.23
2014-09-30 4,023.44 408.29 483.41
2014-06-30 3,910.75 199.99 484.59
2014-03-31 3,821.09 138.95 484.72
2013-12-31 3,731.42 77.91 484.84
2013-09-30 3,593.37 89.25 475.16
2013-06-30 3,455.32 100.59 465.48
2013-03-31 3,417.84 100.46 450.21
2012-12-31 3,380.37 100.33 434.94
2012-09-30 3,529.46 114.91 428.38
2012-06-30 3,678.55 129.48 421.83

*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.
  • Wong's International Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Wong's International Holdings used its assets more efficiently than the HK Electronic industry average last year based on Return on Assets.
  • Wong's International Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Wong's International 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 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.
Wong's International Holdings has a total score of 5/6, 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 Wong's International 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 Wong's International Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Wong's International Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Wong's International Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Wong's International 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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x 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 Wong's International Holdings Company Filings, last reported 4 months ago.

SEHK:99 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,820.19 2,162.98 948.30
2018-09-30 4,820.19 2,162.98 948.30
2018-06-30 4,191.21 2,287.88 989.09
2018-03-31 4,191.21 2,287.88 989.09
2017-12-31 3,516.49 2,012.33 844.75
2017-09-30 3,516.49 2,012.33 844.75
2017-06-30 3,114.96 2,059.93 947.98
2017-03-31 3,114.96 2,059.93 947.98
2016-12-31 2,985.30 1,948.89 1,065.39
2016-09-30 2,985.30 1,948.89 1,065.39
2016-06-30 2,799.04 987.69 981.17
2016-03-31 2,799.04 987.69 981.17
2015-12-31 2,634.61 1,012.73 1,039.71
2015-09-30 2,634.61 1,012.73 1,039.71
2015-06-30 2,626.91 1,050.97 944.07
2015-03-31 2,626.91 1,050.97 944.07
2014-12-31 2,147.45 1,056.49 912.69
2014-09-30 2,147.45 1,056.49 912.69
2014-06-30 1,689.96 1,094.61 819.39
2014-03-31 1,689.96 1,094.61 819.39
2013-12-31 1,579.14 1,073.32 801.19
2013-09-30 1,579.14 1,073.32 801.19
2013-06-30 1,523.67 944.12 692.11
2013-03-31 1,523.67 944.12 692.11
2012-12-31 1,513.50 350.86 801.75
2012-09-30 1,513.50 350.86 801.75
2012-06-30 1,461.60 346.50 702.17
  • Wong's International Holdings's level of debt (44.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (67.9% vs 44.9% today).
  • Debt is not well covered by operating cash flow (12.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5x coverage).
X
Financial health checks
We assess Wong's International 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. Wong's International Holdings has a total score of 4/6, 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 Wong's International 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
2.82%
Current annual income from Wong's International Holdings dividends.
If you bought HK$2,000 of Wong's International Holdings shares you are expected to receive HK$56 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?
  • Wong's International Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.07%).
  • Wong's International Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.72%).
Upcoming dividend payment

Purchase Wong's International Holdings 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:99 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 5.7%

Industry and Market average data is calculated daily.

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

SEHK:99 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:99 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.095 2.782
2019-03-27 0.095 2.724
2018-05-31 0.075 2.584
2017-05-31 0.080 2.540
2016-04-25 0.075 2.680
2016-03-23 0.075 2.827
2015-04-20 0.100 3.771
2015-03-25 0.100 3.554
2014-04-23 0.050 1.951
2014-03-25 0.050 2.059
2013-04-19 0.055 2.152
2013-03-26 0.055 2.264
2012-08-23 0.050 2.184
2012-03-23 0.075 4.809
2011-08-23 0.090 6.210
2011-03-29 0.110 5.366
2010-08-23 0.055 3.288
2010-04-29 0.030 2.907
2010-04-16 0.030 2.904
2009-09-29 0.030 2.824

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 Wong's International Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (31.3x 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 Wong's International 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 Wong's International Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Wong's International Holdings 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 Wong's International 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
Ben Wong
COMPENSATION HK$6,160,000
AGE 66
TENURE AS CEO 16.3 years
CEO Bio

Mr. Chung Mat Wong, also known as Ben, JP, has been the Executive Chairman and Chief Executive Officer of Wong's International Holdings Ltd. since February 1, 2003. Mr. Wong serves as the President of Wong's Electronics Co Limited (WEC). He has over 33 years of experience in the electronics industry. He joined Wong's International Holdings Ltd in 1976. He has been an Executive Director of Wong's International Holdings Ltd since June 1990. He serves as Director of Wong's Electronics Co., Limited (WEC) and a Director of various other companies of Wong's International Holdings Ltd. Mr. Wong serves as a Director of W. S. Wong & Sons Company Limited (WSW&S) and Salop Investment Limited. He served as an Independent Non-executive Director at Elegance International Holdings Ltd. from 2004 to August 29, 2013. He obtained a Master of Science Degree in Operations Research from the Ohio State University.

CEO Compensation
  • Ben's compensation has been consistent with company performance over the past year.
  • Ben's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Ben Wong

TITLE
Executive Chairman & CEO
COMPENSATION
HK$6M
AGE
66
TENURE
16.3 yrs

Man Keung Wan

TITLE
Executive Director
COMPENSATION
HK$4M
AGE
66

Gabriel Chan

TITLE
Executive Director
COMPENSATION
HK$958K
AGE
70

Ada Wong

TITLE
Executive Director
COMPENSATION
HK$4M
AGE
40

Edmund Hung

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
64

Kitty Wong

TITLE
Assistant VP & Executive Assistant to the Chairman
AGE
44

Yuen Fan Ho

TITLE
Company Secretary
TENURE
6.5 yrs

Lawrence Tan

TITLE
Executive Officer
COMPENSATION
HK$1M
AGE
68
Board of Directors Tenure

Average tenure and age of the Wong's International Holdings board of directors in years:

15.3
Average Tenure
66
Average Age
  • The average tenure for the Wong's International Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ben Wong

TITLE
Executive Chairman & CEO
COMPENSATION
HK$6M
AGE
66
TENURE
16.3 yrs

Man Keung Wan

TITLE
Executive Director
COMPENSATION
HK$4M
AGE
66
TENURE
15.3 yrs

Gabriel Chan

TITLE
Executive Director
COMPENSATION
HK$958K
AGE
70
TENURE
28.9 yrs

Ada Wong

TITLE
Executive Director
COMPENSATION
HK$4M
AGE
40
TENURE
13.6 yrs

Edmund Hung

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
64
TENURE
3.5 yrs

Sun Say Yu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$140K
AGE
79
TENURE
19.6 yrs

Eric Li

TITLE
Independent Non-Executive Director
COMPENSATION
HK$140K
AGE
65
TENURE
20.1 yrs

Alfred Donald Yap

TITLE
Independent Non Executive Director
COMPENSATION
HK$140K
AGE
79
TENURE
14.7 yrs

David Cheung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$140K
AGE
68
TENURE
3.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Wong's International 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. Wong's International 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

Is Wong's International Holdings Limited (HKG:99) Struggling With Its 4.1% Return On Capital Employed?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Wong's International Holdings: 0.041 = HK$259m ÷ (HK$8.3b - HK$1.9b) (Based on the trailing twelve months to December 2018.) So, Wong's International Holdings has an ROCE of 4.1%. … Wong's International Holdings's current ROCE of 4.1% is lower than its ROCE in the past, which was 6.9%, 3 years ago. … Do Wong's International Holdings's Current Liabilities Skew Its ROCE?

Simply Wall St -

These Factors Make Wong's International Holdings Limited (HKG:99) An Interesting Investment

Help shape the future of investing tools and you could win a $250 gift card! … I've been keeping an eye on Wong's International Holdings Limited (HKG:99) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe 99 has a lot to offer.

Simply Wall St -

Should You Be Adding Wong's International Holdings (HKG:99) To Your Watchlist Today?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Wong's International Holdings (HKG:99). … It certainly is nice to see that Wong's International Holdings has managed to grow EPS by 34% per year over three years. … While we note Wong's International Holdings's EBIT margins were flat over the last year, revenue grew by a solid 4.9% to HK$4.0b.

Simply Wall St -

What Kind Of Shareholder Appears On The Wong's International Holdings Limited's (HKG:99) Shareholder Register?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Wong's International Holdings is a smaller company with a market capitalization of HK$1.7b, so it may still be flying under the radar of many institutional investors. … View our latest analysis for Wong's International Holdings

Simply Wall St -

How Many Insiders Bought Wong's International Holdings Limited (HKG:99) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Wong's International Holdings Limited (HKG:99). … Wong's International Holdings Insider Transactions Over The Last Year. … In the last twelve months, the biggest single purchase by an insider was when Chung Ah Wong bought HK$17m worth of shares at a price of HK$0.71 per share.

Simply Wall St -

How Does Wong's International Holdings Limited (HKG:99) Fare As A Dividend Stock?

Historically, Wong's International Holdings Limited (HKG:99) has paid a dividend to shareholders. … Let's dig deeper into whether Wong's International Holdings should have a place in your portfolio. … Check out our latest analysis for Wong's International Holdings

Simply Wall St -

Did You Miss Wong's International Holdings's 17% Share Price Gain?

Furthermore, you'd generally like to see the share price rise faster than the market. … Unfortunately for shareholders, while the Wong's International Holdings Limited (HKG:99) share price is up 17% in the last five years, that's less than the market return. … During five years of share price growth, Wong's International Holdings achieved compound earnings per share (EPS) growth of 60% per year.

Simply Wall St -

Wong's International Holdings Limited (HKG:99): Time For A Financial Health Check

Wong's International Holdings Limited (HKG:99) is a small-cap stock with a market capitalization of HK$1.5b. … 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. … Assessing first and foremost the financial health is

Simply Wall St -

Does Wong's International Holdings Limited's (HKG:99) CEO Pay Reflect Performance?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Check out our latest analysis for Wong's International Holdings? … How Does Ben Wong's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Do Insiders Own Shares In Wong's International Holdings Limited (HKG:99)?

A look at the shareholders of Wong's International Holdings Limited (HKG:99) can tell us which group is most powerful. … With a market capitalization of HK$1.4b, Wong's International Holdings is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for Wong's International Holdings

Simply Wall St -

Company Info

Description

Wong’s International Holdings Limited, together with its subsidiaries, develops, manufactures, markets, and distributes electronics products in Hong Kong, rest of Asia, North America, and Europe. It operates in two divisions, Electronic Manufacturing Service (EMS), and Property Investment. The company manufactures and distributes electronic products for EMS customers; and offers electronic manufacturing, testing, value-added engineering, hardware, software or mechanical design, product design, supply management, logistics management, and after-sales services for products in industrial and power, office electronics, network and peripheral, and consumer and digital categories. It also invests in, develops, sells, and leases properties; develops, markets, and distributes wireless multimedia mobile devices; provides sales and marketing services; and trades in electronic products. In addition, the company engages in the trading and distribution of food and beverages. Wong’s International Holdings Limited was founded in 1962 and is headquartered in Kwun Tong, Hong Kong.

Details
Name: Wong's International Holdings Limited
99
Exchange: SEHK
Founded: 1962
HK$1,612,490,385
478,483,794
Website: http://www.wih.com.hk
Address: Wong's International Holdings Limited
C-Bons International Center,
17th Floor,
Kwun Tong,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 99 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
4,177
Wong's International Holdings employees.
Industry
Electronic Manufacturing Services
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 12:34
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2018/03/27
Last earnings filing: 2019/04/26
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.