Loading...

COSCO SHIPPING Ports

SEHK:1199
Snowflake Description

Fair value second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1199
SEHK
HK$23B
Market Cap
  1. Home
  2. HK
  3. Transportation
Company description

COSCO SHIPPING Ports Limited, an investment holding company, engages in managing and operating terminals and related other businesses in Mainland China, Southeast Asia, the Middle East, Europe, and the Mediterranean. The last earnings update was 55 days ago. More info.


Add to Portfolio Compare Print
1199 Share Price and Events
7 Day Returns
-1.8%
SEHK:1199
-1.2%
HK Infrastructure
-2%
HK Market
1 Year Returns
4.8%
SEHK:1199
-8%
HK Infrastructure
-13.2%
HK Market
1199 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
COSCO SHIPPING Ports (1199) -1.8% 3.6% -8.1% 4.8% -3.4% -29.4%
HK Infrastructure -1.2% -3.1% -9.4% -8% -7.1% -7.3%
HK Market -2% -2.7% -9.8% -13.2% 18.1% 4.3%
1 Year Return vs Industry and Market
  • 1199 outperformed the Infrastructure industry which returned -8% over the past year.
  • 1199 outperformed the Market in Hong Kong which returned -13.2% over the past year.
Price Volatility
1199
Industry
5yr Volatility vs Market

Value

 Is COSCO SHIPPING Ports 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 COSCO SHIPPING Ports 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 COSCO SHIPPING Ports.

SEHK:1199 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.3%
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:1199
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.88 (1 + (1- 25%) (107.2%))
1.393
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.39
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.393 * 6.65%)
11.27%

Discounted Cash Flow Calculation for SEHK:1199 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for COSCO SHIPPING Ports 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:1199 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.27%)
2019 -407.00 Analyst x2 -365.79
2020 241.00 Analyst x3 194.66
2021 306.50 Analyst x2 222.50
2022 359.71 Est @ 17.36% 234.69
2023 405.59 Est @ 12.75% 237.83
2024 444.23 Est @ 9.53% 234.11
2025 476.53 Est @ 7.27% 225.70
2026 503.65 Est @ 5.69% 214.39
2027 526.74 Est @ 4.58% 201.52
2028 546.80 Est @ 3.81% 188.01
Present value of next 10 years cash flows $1,587.62
SEHK:1199 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $546.80 × (1 + 2%) ÷ (11.27% – 2%)
$6,020.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,020.92 ÷ (1 + 11.27%)10
$2,070.20
SEHK:1199 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,587.62 + $2,070.20
$3,657.83
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,657.83 / 3,113.13
$1.17
SEHK:1199 Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:1199)
7.833
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $1.17 x 7.833
HK$9.2
Value per share (HKD) From above. HK$9.20
Current discount Discount to share price of HK$7.46
= -1 x (HK$7.46 - HK$9.20) / HK$9.20
18.9%

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

Current Discount
Amount off the current price COSCO SHIPPING Ports is available for.
Intrinsic value
19%
Share price is HK$7.46 vs Future cash flow value of HK$9.2
Current Discount Checks
For COSCO SHIPPING Ports to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • COSCO SHIPPING Ports's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • COSCO SHIPPING Ports's share price is below the future cash flow value, but not 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 COSCO SHIPPING Ports's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are COSCO SHIPPING Ports's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1199 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.10
SEHK:1199 Share Price ** SEHK (2019-06-18) in HKD HK$7.46
SEHK:1199 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.128 $0.95
Hong Kong Infrastructure Industry PE Ratio Median Figure of 24 Publicly-Listed Infrastructure Companies 8.71x
Hong Kong Market PE Ratio Median Figure of 1,488 Publicly-Listed Companies 10.66x

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

** Primary Listing of COSCO SHIPPING Ports.

SEHK:1199 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1199 Share Price ÷ EPS (both in USD)

= 0.95 ÷ 0.10

9.61x

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

  • COSCO SHIPPING Ports is overvalued based on earnings compared to the HK Infrastructure industry average.
  • COSCO SHIPPING Ports is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does COSCO SHIPPING Ports's expected growth come at a high price?
Raw Data
SEHK:1199 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
10.7%per year
Hong Kong Infrastructure Industry PEG Ratio Median Figure of 13 Publicly-Listed Infrastructure Companies 0.89x
Hong Kong Market PEG Ratio Median Figure of 467 Publicly-Listed Companies 0.75x

*Line of best fit is calculated by linear regression .

SEHK:1199 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.61x ÷ 10.7%

0.9x

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

  • COSCO SHIPPING Ports is good value based on expected growth next year.
Price based on value of assets
What value do investors place on COSCO SHIPPING Ports's assets?
Raw Data
SEHK:1199 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $1.67
SEHK:1199 Share Price * SEHK (2019-06-18) in HKD HK$7.46
SEHK:1199 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.128 $0.95
Hong Kong Infrastructure Industry PB Ratio Median Figure of 28 Publicly-Listed Infrastructure Companies 0.8x
Hong Kong Market PB Ratio Median Figure of 2,170 Publicly-Listed Companies 0.93x
SEHK:1199 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1199 Share Price ÷ Book Value per Share (both in USD)

= 0.95 ÷ 1.67

0.57x

* Primary Listing of COSCO SHIPPING Ports.

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

  • COSCO SHIPPING Ports is good value based on assets compared to the HK Infrastructure industry average.
X
Value checks
We assess COSCO SHIPPING Ports'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 Infrastructure 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 Infrastructure industry average (and greater than 0)? (1 check)
  5. COSCO SHIPPING Ports has a total score of 3/6, 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 COSCO SHIPPING Ports expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

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
10.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is COSCO SHIPPING Ports expected to grow at an attractive rate?
  • COSCO SHIPPING Ports's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • COSCO SHIPPING Ports's earnings growth is positive but not above the Hong Kong market average.
  • COSCO SHIPPING Ports's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1199 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1199 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 10.7%
SEHK:1199 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 9.8%
Hong Kong Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 5%
Hong Kong Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.6%

*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:1199 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1199 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,372 518 412 6
2020-12-31 1,209 391 370 12
2019-12-31 1,134 371 335 11
SEHK:1199 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,010 305
2018-12-31 1,000 266 325
2018-09-30 952 305
2018-06-30 854 268 297
2018-03-31 745 544
2017-12-31 635 253 512
2017-09-30 569 483
2017-06-30 557 203 460
2017-03-31 556 176
2016-12-31 556 301 180
2016-09-30 801 246
2016-06-30 549 364 234

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • COSCO SHIPPING Ports's earnings are expected to grow by 10.7% yearly, however this is not considered high growth (20% yearly).
  • COSCO SHIPPING Ports's revenue is expected to grow by 9.8% 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:1199 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from COSCO SHIPPING Ports Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1199 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.13 0.17 0.11 5.00
2020-12-31 0.12 0.15 0.10 10.00
2019-12-31 0.11 0.13 0.09 10.00
SEHK:1199 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.10
2018-12-31 0.11
2018-09-30 0.10
2018-06-30 0.10
2018-03-31 0.18
2017-12-31 0.17
2017-09-30 0.16
2017-06-30 0.15
2017-03-31 0.06
2016-12-31 0.06
2016-09-30 0.08
2016-06-30 0.08

*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.
  • COSCO SHIPPING Ports is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess COSCO SHIPPING Ports'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.
COSCO SHIPPING Ports has a total score of 1/6, 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 COSCO SHIPPING Ports 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 COSCO SHIPPING Ports's growth in the last year to its industry (Infrastructure).
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.
  • COSCO SHIPPING Ports's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • COSCO SHIPPING Ports's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • COSCO SHIPPING Ports's 1-year earnings growth is negative, it can't be compared to the HK Infrastructure industry average.
Earnings and Revenue History
COSCO SHIPPING Ports'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 COSCO SHIPPING Ports Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1199 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,010.12 305.28 112.99
2018-12-31 1,000.35 324.58 110.87
2018-09-30 951.79 304.64 132.47
2018-06-30 854.39 296.73 133.82
2018-03-31 744.82 544.12 122.64
2017-12-31 634.71 512.45 111.70
2017-09-30 568.63 483.08 95.47
2017-06-30 557.17 459.80 81.86
2017-03-31 555.54 175.53 83.07
2016-12-31 556.38 180.48 84.87
2016-09-30 801.28 245.82 83.99
2016-06-30 548.66 234.22 73.86
2016-03-31 795.16 287.55 82.04
2015-12-31 550.22 265.29 66.22
2015-09-30 818.02 297.93 90.42
2015-06-30 706.47 282.44 83.67
2015-03-31 852.45 305.41 93.03
2014-12-31 870.09 292.76 93.20
2014-09-30 856.61 295.96 92.52
2014-06-30 843.59 289.17 92.44
2014-03-31 819.98 290.17 88.19
2013-12-31 798.63 286.21 90.06
2013-09-30 783.54 340.44 91.21
2013-06-30 763.34 274.95 91.14
2013-03-31 752.59 331.10 90.78
2012-12-31 735.50 280.30 91.92
2012-09-30 710.78 334.37 92.29
2012-06-30 687.85 300.90 92.61

*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.
  • COSCO SHIPPING Ports has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • COSCO SHIPPING Ports used its assets less efficiently than the HK Infrastructure industry average last year based on Return on Assets.
  • COSCO SHIPPING Ports's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess COSCO SHIPPING Ports'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 Infrastructure 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.
COSCO SHIPPING Ports has a total score of 1/6, 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 COSCO SHIPPING Ports'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 COSCO SHIPPING Ports's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • COSCO SHIPPING Ports is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • COSCO SHIPPING Ports's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of COSCO SHIPPING Ports'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 not covered by short term assets, assets are 0.4x 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 COSCO SHIPPING Ports Company Filings, last reported 2 months ago.

SEHK:1199 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,864.99 3,178.51 562.86
2018-12-31 5,819.65 2,694.40 551.77
2018-09-30 5,725.69 2,445.74 671.92
2018-06-30 5,880.61 2,566.49 582.03
2018-03-31 6,100.86 2,447.30 552.98
2017-12-31 5,845.37 2,596.36 573.36
2017-09-30 5,568.35 1,982.22 800.80
2017-06-30 5,414.10 1,667.73 344.77
2017-03-31 4,918.37 1,458.57 717.14
2016-12-31 4,765.80 1,748.97 847.68
2016-09-30 4,819.33 1,665.44 837.69
2016-06-30 4,838.21 1,680.40 942.93
2016-03-31 4,940.55 1,501.87 1,135.83
2015-12-31 6,267.08 2,271.31 989.27
2015-09-30 5,047.08 1,787.57 975.61
2015-06-30 5,159.45 2,001.73 1,052.85
2015-03-31 5,107.85 1,887.07 1,014.63
2014-12-31 5,058.66 2,098.09 1,131.71
2014-09-30 4,986.69 2,077.64 1,141.06
2014-06-30 4,931.30 2,216.74 929.16
2014-03-31 4,894.95 2,104.18 940.02
2013-12-31 4,843.49 2,277.10 1,237.40
2013-09-30 4,602.76 2,590.98 1,805.96
2013-06-30 4,696.75 3,099.75 1,680.51
2013-03-31 4,297.58 3,068.90 1,102.45
2012-12-31 4,217.39 2,844.17 856.99
2012-09-30 4,076.14 2,527.89 840.26
2012-06-30 4,006.64 2,471.82 787.18
  • COSCO SHIPPING Ports's level of debt (43.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (43% vs 43.3% today).
  • Debt is not well covered by operating cash flow (10.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess COSCO SHIPPING Ports'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. COSCO SHIPPING Ports has a total score of 2/6, 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 COSCO SHIPPING Ports'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
4.44%
Current annual income from COSCO SHIPPING Ports dividends. Estimated to be 4.69% next year.
If you bought HK$2,000 of COSCO SHIPPING Ports shares you are expected to receive HK$89 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?
  • COSCO SHIPPING Ports's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.1%).
  • COSCO SHIPPING Ports's dividend is below the markets top 25% of dividend payers in Hong Kong (5.95%).
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:1199 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 12 Analyst Estimates (S&P Global) See Below
Hong Kong Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 5.3%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 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 5.9%

Industry and Market average data is calculated daily.

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

SEHK:1199 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.05 6.00
2020-12-31 0.05 11.00
2019-12-31 0.04 11.00
SEHK:1199 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.042 4.219
2018-10-29 0.044 4.346
2018-08-27 0.044 4.296
2018-05-17 0.030 3.265
2018-04-13 0.030 3.491
2018-03-26 0.030 3.489
2017-04-12 0.033 3.060
2017-03-28 0.033 3.033
2016-04-14 0.052 4.985
2016-03-29 0.052 4.260
2015-03-24 0.040 3.198
2014-09-26 0.039 2.842
2014-04-08 0.043 3.100
2014-03-25 0.043 3.333
2013-04-16 0.050 3.606
2013-03-26 0.050 3.604
2012-09-14 0.026 1.782
2012-04-16 0.057 4.382
2012-03-27 0.057 3.923
2011-10-26 0.070 5.261
2011-09-14 0.070 5.962
2011-08-24 0.070 5.467
2011-04-08 0.042 2.458
2011-03-23 0.042 2.240
2010-09-13 0.030 1.735
2010-03-30 0.031 2.345

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

  • COSCO SHIPPING Ports has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but COSCO SHIPPING Ports only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of COSCO SHIPPING Ports's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess COSCO SHIPPING Ports'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 COSCO SHIPPING Ports afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. COSCO SHIPPING Ports 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 COSCO SHIPPING Ports'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
Wei Zhang
COMPENSATION $872,000
AGE 44
TENURE AS CEO 3.2 years
CEO Bio

Mr. Wei Zhang has been Chairman and Managing Director of COSCO SHIPPING Ports Limited since April 25, 2019 and April 27, 2016 respectively and also has been its Executive Director since August 14, 2015. Mr. Zhang serves as Senior Vice President of North America Cosco Inc. He serves as General Manager of the Operating Management Division of China COSCO Holdings Company Limited. He also serves as an Executive Director and Deputy General Manager of COSCO SHIPPING Holdings Co., Ltd. He served as General Manager of the Operating Management Division of COSCO SHIPPING Holdings Co., Ltd. He served as General Manager of The Operating Management Division and Executive Deputy Director of the Integration Management Office of China COSCO Shipping Corporation Limited. He serves as a Director of certain subsidiaries of China Ocean Shipping (Group) Company and China COSCO Holdings Company Limited. He joined COSCO group in 1995. He served as an Assistant Manager, Deputy Manager and Manager of Pricing Department of Marketing and Sales Division of COSCO Container Lines Co., Ltd. and COSCO SHIPPING Lines Co., Ltd., Executive Deputy General Manager of America Trade Division of COSCO SHIPPING Lines Co., Ltd., Executive Vice President of COSCO Container Lines Americas, Inc. (COSCO SHIPPING Lines (North America) Inc.) and General Manager of Strategy and Development Division of COSCO SHIPPING Lines Co., Ltd. He served as Vice Chairman of COSCO SHIPPING Ports Limited form April 27, 2016 to April 25, 2019. He serves as a Director of COSCO SHIPPING Lines Co., Ltd. (COSCO SHIPPING Lines). He has been Non-Executive Director of Qingdao Port International Co., Ltd. since June 28, 2017. He served as a Non-Executive Director at COSCO SHIPPING Ports Limited from August 14, 2015 to April 27, 2016. He served as a Non-Executive Director at Cosco Pacific Ltd. from August 14, 2015 to April 27, 2016. Mr. Zhang holds Master of Management degree from Fudan University, majoring in Change Management Program. He is an Engineer.

CEO Compensation
  • Wei's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Wei's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the COSCO SHIPPING Ports management team in years:

3.4
Average Tenure
56
Average Age
  • The tenure for the COSCO SHIPPING Ports management team is about average.
Management Team

Wei Zhang

TITLE
Chairman & MD
COMPENSATION
$872K
AGE
44
TENURE
3.2 yrs

Michelle Hung

TITLE
General Counsel & Company Secretary
AGE
48
TENURE
22.6 yrs

Kelvin Wong

TITLE
Deputy MD & Executive Director
COMPENSATION
$459K
AGE
58
TENURE
22.9 yrs

Fusheng Zhang

TITLE
EVP - China Ocean Shipping (Group) Company and Director of COSCO Container Lines Company Ltd
COMPENSATION
$8K
AGE
67

Huangjun Deng

TITLE
Deputy MD & Executive Director
COMPENSATION
$352K
AGE
54
TENURE
3.7 yrs

Xiaomin Zeng

TITLE
Deputy Managing Director
AGE
58
TENURE
3.2 yrs

Dayu Zhang

TITLE
Deputy Managing Director
AGE
45
TENURE
3.2 yrs

Futian Wang

TITLE
President of COSCO Hong Kong
COMPENSATION
$8K
AGE
67
Board of Directors Tenure

Average tenure and age of the COSCO SHIPPING Ports board of directors in years:

5.8
Average Tenure
56
Average Age
  • The tenure for the COSCO SHIPPING Ports board of directors is about average.
Board of Directors

Kelvin Wong

TITLE
Deputy MD & Executive Director
COMPENSATION
$459K
AGE
58
TENURE
22.9 yrs

Fusheng Zhang

TITLE
EVP - China Ocean Shipping (Group) Company and Director of COSCO Container Lines Company Ltd
COMPENSATION
$8K
AGE
67

Huangjun Deng

TITLE
Deputy MD & Executive Director
COMPENSATION
$352K
AGE
54
TENURE
3.7 yrs

Rita Fan

TITLE
Independent Non Executive Director
COMPENSATION
$50K
AGE
72
TENURE
10.4 yrs

Wei Zhang

TITLE
Chairman & MD
COMPENSATION
$872K
AGE
44
TENURE
0.2 yrs

Adrian David Li

TITLE
Independent Non-Executive Director
COMPENSATION
$56K
AGE
44
TENURE
7.1 yrs

Haimin Wang

TITLE
Non-Executive Director
COMPENSATION
$15K
AGE
45
TENURE
8.7 yrs

Ergang Fan

TITLE
Independent Non-Executive Director
COMPENSATION
$33K
AGE
63
TENURE
5.8 yrs

Yiu Kin Lam

TITLE
Independent Non-Executive Director
COMPENSATION
$40K
AGE
63
TENURE
3.8 yrs

Boming Feng

TITLE
Non-Executive Director
COMPENSATION
$4K
AGE
49
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
18. Oct 18 Buy Huangjun Deng Individual 16. Oct 18 16. Oct 18 1,149 HK$7.53 HK$8,647
18. Oct 18 Buy Wei Zhang Individual 16. Oct 18 16. Oct 18 6,896 HK$7.53 HK$51,899
18. Oct 18 Buy Meng Fang Individual 15. Oct 18 15. Oct 18 3,448 HK$7.53 HK$25,950
18. Oct 18 Buy Tin Yau Wong Individual 15. Oct 18 15. Oct 18 13,090 HK$7.53 HK$98,515
21. Jun 18 Buy Hermes Investment Management Limited Company 20. Jun 18 20. Jun 18 516,000 HK$7.06 HK$3,644,919
22. Jun 18 Buy Huangjun Deng Individual 20. Jun 18 20. Jun 18 16,000 HK$7.08 HK$113,280
22. Jun 18 Buy Wei Zhang Individual 20. Jun 18 20. Jun 18 100,000 HK$7.10 HK$710,000
11. Jul 18 Buy COSCO SHIPPING Holdings Co., Ltd. Company 06. Jul 18 06. Jul 18 2,054,000 HK$6.73 HK$13,819,728
25. Jun 18 Buy Meng Fang Individual 25. Jun 18 25. Jun 18 50,000 HK$6.75 HK$337,500
22. Jun 18 Buy Huangjun Deng Individual 21. Jun 18 21. Jun 18 34,000 HK$7.15 HK$243,100
22. Jun 18 Buy Wei Zhang Individual 21. Jun 18 21. Jun 18 200,000 HK$7.13 HK$1,425,600
22. Jun 18 Buy Meng Fang Individual 21. Jun 18 21. Jun 18 100,000 HK$7.13 HK$712,500
X
Management checks
We assess COSCO SHIPPING Ports'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. COSCO SHIPPING Ports 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 COSCO SHIPPING Ports Limited (HKG:1199) Undervalued After Accounting For Its Future Growth?

COSCO SHIPPING Ports Limited (HKG:1199) is considered a high growth stock. … COSCO SHIPPING Ports is available at a price-to-earnings ratio of 9.5x, showing us it is undervalued relative to the current HK market average of 10.89x , and overvalued based on current earnings compared to the Infrastructure industry average of 8.71x. … But, seeing as COSCO SHIPPING Ports is perceived as a high-growth stock, we must also account for its earnings growth, which is captured in the PEG ratio.

Simply Wall St -

Estimating The Intrinsic Value Of COSCO SHIPPING Ports Limited (HKG:1199)

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of COSCO SHIPPING Ports Limited (HKG:1199) as an investment opportunity by projecting its future cash flows and then discounting them to today's value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $-407.00 $241.00 $306.50 $359.71 $405.59 $444.23 $476.53 $503.65 $526.74 $546.80 Growth Rate Estimate Source Analyst x2 Analyst x3 Analyst x2 Est @ 17.36% Est @ 12.75% Est @ 9.53% Est @ 7.27% Est @ 5.69% Est @ 4.58% Est @ 3.81% Present Value ($, Millions) Discounted @ 11.77% $-364.14 $192.91 $219.50 $230.48 $232.51 $227.84 $218.67 $206.77 $193.48 $179.69 Present Value of 10-year Cash Flow (PVCF)= $1.54b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$547m × (1 + 2%) ÷ (11.8% – 2%) = US$5.7b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$5.7b ÷ ( 1 + 11.8%)10 = $1.88b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $3.41b.

Simply Wall St -

Does COSCO SHIPPING Ports Limited (HKG:1199) Have A Place In Your Dividend Stock Portfolio?

Is COSCO SHIPPING Ports Limited (HKG:1199) a good dividend stock? … Looking at the last decade of data, we can see that COSCO SHIPPING Ports paid its first dividend at least nine years ago. … Dividend Growth Potential With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future. COSCO SHIPPING Ports's earnings per share have been essentially flat over the past five years. Flat earnings per share are acceptable for a time, but over the long term, the purchasing power of the company's dividends could be eroded by inflation. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

Simply Wall St -

Here’s why COSCO SHIPPING Ports Limited’s (HKG:1199) Returns On Capital Matters So Much

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

What Does COSCO SHIPPING Ports Limited's (HKG:1199) Balance Sheet Tell Us About It?

While small-cap stocks, such as COSCO SHIPPING Ports Limited (HKG:1199) with its market cap of HK$28b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … since poor capital management may bring about bankruptcies, … The following basic checks can help you get a picture of the company's balance sheet strength.

Simply Wall St -

Do Directors Own COSCO SHIPPING Ports Limited (HKG:1199) Shares?

The big shareholder groups in COSCO SHIPPING Ports Limited (HKG:1199) have power over the company. … COSCO SHIPPING Ports has a market capitalization of HK$28b, so it's too big to fly under the radar. … View our latest analysis for COSCO SHIPPING Ports

Simply Wall St -

Did You Manage To Avoid COSCO SHIPPING Ports's (HKG:1199) 22% Share Price Drop?

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Looking back five years, both COSCO SHIPPING Ports's share price and EPS declined; the latter at a rate of 4.0% per year. … Rather, the share price change has reflected changes in earnings per share.

Simply Wall St -

Read This Before Selling COSCO SHIPPING Ports Limited (HKG:1199) Shares

So shareholders might well want to know whether insiders have been buying or selling shares in COSCO SHIPPING Ports Limited (HKG:1199). … COSCO SHIPPING Ports Insider Transactions Over The Last Year. … In the last twelve months there was more buying than selling by COSCO SHIPPING Ports insiders

Simply Wall St -

Here's What COSCO SHIPPING Ports Limited's (HKG:1199) P/E Is Telling Us

We'll look at COSCO SHIPPING Ports Limited's (HKG:1199) P/E ratio and reflect on what it tells us about the company's share price. … COSCO SHIPPING Ports has a price to earnings ratio of 10.96, based on the last twelve months. … How Do I Calculate COSCO SHIPPING Ports's Price To Earnings Ratio

Simply Wall St -

Is COSCO SHIPPING Ports Limited (HKG:1199) A Smart Pick For Income Investors?

Historically, COSCO SHIPPING Ports Limited (HKG:1199) has paid dividends to shareholders, and these days it yields 4.1%. … Let's dig deeper into whether COSCO SHIPPING Ports should have a place in your portfolio. … View our latest analysis for COSCO SHIPPING Ports

Simply Wall St -

Company Info

Description

COSCO SHIPPING Ports Limited, an investment holding company, engages in managing and operating terminals and related other businesses in Mainland China, Southeast Asia, the Middle East, Europe, and the Mediterranean. The company offers container handling, transportation, and storage and stevedoring services; depot handling, storage, and container repairing servicing; and financing, treasury, management, and consultancy services. It also operates container freight stations, terminals, container terminals, and rail terminals. As of December 31, 2018, the company operated and managed 283 berths at 36 ports with a combined annual handling capacity of approximately 106 million TEU. The company was formerly known as COSCO Pacific Limited and changed its name to COSCO SHIPPING Ports Limited in July 2016. COSCO SHIPPING Ports Limited was incorporated in 1994 and is headquartered in Central, Hong Kong.

Details
Name: COSCO SHIPPING Ports Limited
1199
Exchange: SEHK
Founded: 1994
HK$23,223,916,073
3,113,125,479
Website: http://ports.coscoshipping.com
Address: COSCO SHIPPING Ports Limited
COSCO Tower,
49th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1199 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 30. Dec 1994
OTCPK CSPK.F Ordinary Shares Pink Sheets LLC US USD 30. Dec 1994
DB CTH Ordinary Shares Deutsche Boerse AG DE EUR 30. Dec 1994
SHSC 1199 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 30. Dec 1994
SZSC 1199 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 30. Dec 1994
OTCPK CSPK.Y UNSPONSORD ADR Pink Sheets LLC US USD 22. Oct 2008
Number of employees
Current staff
Staff numbers
3,379
COSCO SHIPPING Ports employees.
Industry
Marine Ports and Services
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 12:39
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/04/29
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
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.