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Transport International Holdings

SEHK:62
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
62
SEHK
HK$11B
Market Cap
  1. Home
  2. HK
  3. Transportation
Company description

Transport International Holdings Limited, an investment holding company, provides franchised and non-franchised public transportation services in the People’s Republic of China. The last earnings update was 14 days ago. More info.


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62 Share Price and Events
7 Day Returns
-1.4%
SEHK:62
-1.9%
HK Transportation
-0.9%
HK Market
1 Year Returns
0%
SEHK:62
2.2%
HK Transportation
-6.3%
HK Market
62 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Transport International Holdings (62) -1.4% 2.6% 6.7% 0% 12.5% 66.6%
HK Transportation -1.9% -1.1% 9.2% 2.2% 15.4% 53.5%
HK Market -0.9% 1.7% 10.8% -6.3% 27.3% 20.1%
1 Year Return vs Industry and Market
  • 62 underperformed the Transportation industry which returned 2.2% over the past year.
  • 62 outperformed the Market in Hong Kong which returned -6.3% over the past year.
Price Volatility
62
Industry
5yr Volatility vs Market

Value

 Is Transport 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 Transport 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 Transport International Holdings.

SEHK:62 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 9.5%
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:62
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Transportation Unlevered Beta Simply Wall St/ S&P Global 1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.999 (1 + (1- 25%) (24.95%))
1.125
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.125 * 6.65%)
9.48%

Discounted Cash Flow Calculation for SEHK:62 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Transport 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:62 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 9.48%)
2019 62.61 Est @ -35.18% 57.19
2020 47.57 Est @ -24.02% 39.69
2021 39.86 Est @ -16.22% 30.37
2022 35.57 Est @ -10.75% 24.76
2023 33.11 Est @ -6.92% 21.05
2024 31.70 Est @ -4.25% 18.41
2025 30.95 Est @ -2.37% 16.42
2026 30.62 Est @ -1.06% 14.84
2027 30.58 Est @ -0.14% 13.53
2028 30.73 Est @ 0.5% 12.42
Present value of next 10 years cash flows HK$248.68
SEHK:62 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$30.73 × (1 + 2%) ÷ (9.48% – 2%)
HK$419.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$419.20 ÷ (1 + 9.48%)10
HK$169.44
SEHK:62 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$248.68 + HK$169.44
HK$418.12
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$418.12 / 434.82
HK$0.96
SEHK:62 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.96
Current discount Discount to share price of HK$23.85
= -1 x (HK$23.85 - HK$0.96) / HK$0.96
-2380.3%

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

  • The current share price of Transport International Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Transport International Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Transport International Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:62 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$1.68
SEHK:62 Share Price ** SEHK (2019-04-24) in HKD HK$23.85
Hong Kong Transportation Industry PE Ratio Median Figure of 6 Publicly-Listed Transportation Companies 20.19x
Hong Kong Market PE Ratio Median Figure of 1,474 Publicly-Listed Companies 12.13x

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

** Primary Listing of Transport International Holdings.

SEHK:62 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:62 Share Price ÷ EPS (both in HKD)

= 23.85 ÷ 1.68

14.17x

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

  • Transport International Holdings is good value based on earnings compared to the HK Transportation industry average.
  • Transport International Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Transport International Holdings's expected growth come at a high price?
Raw Data
SEHK:62 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-4.9%per year
Asia Transportation Industry PEG Ratio Median Figure of 6 Publicly-Listed Transportation Companies 2.48x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.87x

*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 Transport International Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Transport International Holdings's assets?
Raw Data
SEHK:62 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$23.46
SEHK:62 Share Price * SEHK (2019-04-24) in HKD HK$23.85
Hong Kong Transportation Industry PB Ratio Median Figure of 7 Publicly-Listed Transportation Companies 1.03x
Hong Kong Market PB Ratio Median Figure of 2,150 Publicly-Listed Companies 1.02x
SEHK:62 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:62 Share Price ÷ Book Value per Share (both in HKD)

= 23.85 ÷ 23.46

1.02x

* Primary Listing of Transport International Holdings.

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

  • Transport International Holdings is good value based on assets compared to the HK Transportation industry average.
X
Value checks
We assess Transport 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 Transportation 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 Transportation industry average (and greater than 0)? (1 check)
  5. Transport International Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

  • No analysts cover Transport 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
-4.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Transport International Holdings expected to grow at an attractive rate?
  • Transport 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
  • Transport 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 Transport International Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:62 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:62 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -4.9%
Hong Kong Transportation Industry Earnings Growth Rate Market Cap Weighted Average 2.5%
Asia Transportation Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 11.1%

*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:62 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:62 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 8,009 1,727 720
2018-06-30 7,952 1,732 784
2018-03-31 7,948 1,750 825
2017-12-31 7,888 1,768 866
2017-06-30 7,817 1,846 875
2017-03-31 7,793 1,912 874
2016-12-31 7,769 1,978 873
2016-09-30 7,865 1,959 759
2016-06-30 7,803 1,940 687
2016-03-31 7,766 1,841 658

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Transport International Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Transport 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:62 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Transport International Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:62 Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 1.68
2018-06-30 1.86
2018-03-31 1.97
2017-12-31 2.08
2017-06-30 2.13
2017-03-31 2.14
2016-12-31 2.15
2016-09-30 1.87
2016-06-30 1.70
2016-03-31 1.63

*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 Transport International Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Transport 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 Asia 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.
Transport 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 Transport 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 Transport International Holdings's growth in the last year to its industry (Transportation).
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.
  • Transport International Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Transport International Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Transport International Holdings's 1-year earnings growth is negative, it can't be compared to the HK Transportation industry average.
Earnings and Revenue History
Transport 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 Transport International Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:62 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 8,009.28 720.07
2018-06-30 7,951.63 783.86
2018-03-31 7,947.73 824.86
2017-12-31 7,887.68 865.86
2017-06-30 7,816.61 874.70
2017-03-31 7,792.61 873.85
2016-12-31 7,768.61 873.00
2016-09-30 7,865.42 758.94
2016-06-30 7,802.62 687.01
2016-03-31 7,766.32 657.86
2015-12-31 7,730.02 628.71
2015-09-30 7,703.11 611.34 1.01
2015-06-30 7,676.21 593.97 2.01
2015-03-31 7,631.51 504.52 2.01
2014-12-31 7,586.81 415.07 2.01
2014-09-30 7,565.43 371.10 2.01
2014-06-30 7,544.05 327.12 2.01
2014-03-31 7,490.60 349.22 2.01
2013-12-31 7,437.15 371.32 2.01
2013-09-30 7,343.77 309.03 2.01
2013-06-30 7,250.38 246.74 2.01
2013-03-31 7,222.73 206.29 2.01
2012-12-31 7,195.08 165.84 2.01
2012-09-30 7,161.08 266.67 2.38
2012-06-30 7,117.29 292.55 1.92

*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.
  • Transport International Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Transport International Holdings used its assets less efficiently than the HK Transportation industry average last year based on Return on Assets.
  • Transport International Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Transport 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 Transportation 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.
Transport International Holdings 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 Transport 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 Transport International Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Transport International Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Transport International Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Transport 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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x 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 Transport International Holdings Company Filings, last reported 3 months ago.

SEHK:62 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 10,195.56 2,625.04 1,420.40
2018-06-30 10,120.80 2,521.50 1,177.20
2018-03-31 10,120.80 2,521.50 1,177.20
2017-12-31 9,542.93 2,353.27 1,226.79
2017-06-30 8,208.20 2,330.20 689.80
2017-03-31 8,208.20 2,330.20 689.80
2016-12-31 7,971.53 2,724.37 1,064.76
2016-09-30 7,971.53 2,724.37 1,064.76
2016-06-30 7,403.20 1,026.70 1,685.80
2016-03-31 7,403.20 1,026.70 1,685.80
2015-12-31 7,361.56 1,048.94 2,782.15
2015-09-30 7,361.56 1,048.94 2,782.15
2015-06-30 7,388.40 639.70 2,484.20
2015-03-31 7,388.40 639.70 2,484.20
2014-12-31 7,387.07 544.54 2,706.14
2014-09-30 7,387.07 544.54 2,706.14
2014-06-30 7,229.60 469.30 2,642.50
2014-03-31 7,229.60 469.30 2,642.50
2013-12-31 7,300.74 599.10 2,926.71
2013-09-30 7,300.74 599.10 2,926.71
2013-06-30 6,427.40 598.80 2,894.90
2013-03-31 6,427.40 598.80 2,894.90
2012-12-31 6,420.72 798.58 3,110.08
2012-09-30 6,781.85 798.58 3,110.08
2012-06-30 6,691.10 798.20 3,205.20
  • Transport International Holdings's level of debt (25.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (8.2% vs 25.7% today).
  • Debt is well covered by operating cash flow (65.8%, greater than 20% of total debt).
  • Transport International Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Transport 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. Transport 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 Transport 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
5.03%
Current annual income from Transport International Holdings dividends.
If you bought HK$2,000 of Transport International Holdings shares you are expected to receive HK$101 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?
  • Transport International Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (1.96%).
  • Transport International Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.38%).
Upcoming dividend payment

Purchase Transport 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:62 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
Asia Transportation Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 2.6%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 966 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

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

SEHK:62 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-10 1.200 4.969
2019-03-21 1.200 5.090
2018-03-22 1.250 5.682
2017-09-07 1.250 5.135
2017-03-27 1.250 4.966
2016-05-26 1.200 5.338
2015-04-16 0.900 4.408
2014-04-16 0.600 3.859
2014-03-24 0.600 4.086
2013-04-22 0.600 3.604
2013-03-21 0.600 3.473
2012-03-15 0.600 3.824
2011-08-18 1.200 7.375
2011-03-17 1.350 6.055
2010-04-20 1.350 5.499
2010-03-18 1.350 4.969
2009-09-25 1.350 6.064

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Transport International Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x 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 Transport International Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Transport International Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Transport International Holdings has a total score of 2/6, 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 Transport 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
Roger Lee
COMPENSATION HK$8,178,000
AGE 55
TENURE AS CEO 4.3 years
CEO Bio

Mr. Chak-Cheong Lee, also known as Roger, BSc, MSc, MICE, CEng has been Managing Director and Executive Director of Transport International Holdings Limited since January 1, 2015 and March 3, 2014 respectively. Mr. Lee has been Managing Director of The Kowloon Motor Bus Company (1933) Limited (“KMB”) and Long Win Bus Company Limited since January 2015. He serves as Manager of Transport Advisory at Sun Hung Kai Properties Limited. He serves as the Head of the Transport Advisory Department of Sun Hung Kai Properties Limited (“SHKP”). He serves as Head/Manager of Transport Advisory at Sun Hung Kai Properties Limited. He has been a Director of Park Island Transport Company Limited since 2011 and a Director of Wilson Group Limited since 2013. He has been a Non-Executive Director of The Kowloon Motor Bus Co. (1933) Ltd. since March 3, 2014 and Long Win Bus Company Limited since March 3, 2014. He served as a Non-Executive Director of Transport International Holdings Limited., from March 03, 2014 to December 31, 2014. Mr. Lee worked for the West Sussex County Council, the London Borough of Bexley and the East Sussex County Councils in England from 1986 to 1994. Prior to joining SHK in 2006, he served as a Director with MVA Hong Kong Limited. He is a Chartered Engineer since 1992 and is a member of the Institution of Civil Engineers, United Kingdom since 1992. Mr. Lee obtained a Bachelor Degree in Civil Engineering from University of Westminster, England in 1985 and a Master Degree in Transportation Planning & Engineering from University of Southampton, England in 1986.

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

Roger Lee

TITLE
MD & Executive Director
COMPENSATION
HK$8M
AGE
55
TENURE
4.3 yrs

William Ho

TITLE
Finance Director
AGE
50

Owen Eckford

TITLE
Operations Director

Henry Leung

TITLE
Head of Legal Department

Louisa Leung

TITLE
Head of Internal Audit Department

Lana Woo

TITLE
Company Secretary
COMPENSATION
HK$562K

Kenrick Fok

TITLE
Operations & Project Director of Long Win Bus Company Limited

Godwin So

TITLE
General Manager of Corporate Planning & Business Development
AGE
53
Board of Directors Tenure

Average tenure and age of the Transport International Holdings board of directors in years:

21
Average Tenure
67.5
Average Age
  • The average tenure for the Transport International Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Norman Leung

TITLE
Chairman of the Board
COMPENSATION
HK$2M
AGE
78
TENURE
6.9 yrs

Roger Lee

TITLE
MD & Executive Director
COMPENSATION
HK$8M
AGE
55
TENURE
5.1 yrs

John Chan

TITLE
Deputy Chairman
COMPENSATION
HK$862K
AGE
74
TENURE
6.9 yrs

Eric Li

TITLE
Independent Non-Executive Director
COMPENSATION
HK$918K
AGE
65
TENURE
20.3 yrs

Charles Lui

TITLE
Non-Executive Director
COMPENSATION
HK$576K
AGE
83
TENURE
21.6 yrs

Winnie J. Ng

TITLE
Non-Executive Director
COMPENSATION
HK$839K
AGE
54
TENURE
22.3 yrs

William Louey

TITLE
Non-Executive Director
COMPENSATION
HK$324K
AGE
58
TENURE
21.6 yrs

Raymond Kwok

TITLE
Non-Executive Director
COMPENSATION
HK$576K
AGE
65
TENURE
21.6 yrs

Siu Chan Ng

TITLE
Non-Executive Director
COMPENSATION
HK$324K
AGE
87
TENURE
21.6 yrs

Pak Wai Liu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$496K
AGE
70
TENURE
7.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
21. Jan 19 Buy Kwok Chun Ng Individual 16. Jan 19 16. Jan 19 10,000 HK$21.60 HK$216,000
19. Oct 18 Buy Chak Cheong Lee Individual 16. Oct 18 16. Oct 18 1,622 HK$21.14 HK$34,289
19. Oct 18 Buy Winnie J. Ng Individual 16. Oct 18 16. Oct 18 310,996 HK$21.14 HK$6,574,455
25. Jun 18 Buy Kwok Chun Ng Individual 19. Jun 18 19. Jun 18 434,153 HK$22.95 HK$9,963,810
25. Jun 18 Buy Kwok Won Yu Louey Individual 15. Jun 18 15. Jun 18 428,229 HK$22.95 HK$9,827,856
25. Jun 18 Buy Kwok Chun Ng Individual 15. Jun 18 15. Jun 18 22,966 HK$22.95 HK$527,070
25. Jun 18 Buy Kwok Won Yu Louey Individual 13. Jun 18 13. Jun 18 12,000 HK$22.95 HK$275,400
25. Jun 18 Buy Kwok Chun Ng Individual 13. Jun 18 13. Jun 18 170,893 HK$22.95 HK$3,921,994
25. Jun 18 Buy Lai Kuen Louey Individual 13. Jun 18 13. Jun 18 78,834 HK$22.95 HK$1,809,240
03. Oct 18 Buy Lai Kuen Louey Individual 28. Sep 18 28. Sep 18 70 HK$21.14 HK$1,480
03. Oct 18 Buy Kwok Chun Ng Individual 21. Sep 18 21. Sep 18 163,269 HK$21.14 HK$3,451,507
03. Oct 18 Buy Lai Kuen Louey Individual 27. Sep 18 27. Sep 18 98,426 HK$21.14 HK$2,080,726
28. Sep 18 Buy Ping-luen Kwok Individual 26. Sep 18 26. Sep 18 6,456 HK$21.14 HK$136,480
25. Jun 18 Buy Lai Kuen Louey Individual 19. Jun 18 19. Jun 18 186 HK$22.95 HK$4,269
04. Jul 18 Buy Kwong Tai Holdings (PTC) Limited Company 29. Jun 18 29. Jun 18 826,975 HK$22.95 HK$18,979,074
03. Jul 18 Buy Chak Cheong Lee Individual 29. Jun 18 29. Jun 18 9,521 HK$22.95 HK$218,507
14. Jun 18 Buy Ping-luen Kwok Individual 14. Jun 18 14. Jun 18 17,168 HK$22.95 HK$394,006
14. Jun 18 Buy Sun Hung Kai Properties Limited Company 12. Jun 18 12. Jun 18 337,993 HK$22.95 HK$7,756,938
14. Jun 18 Buy Sun Hung Kai Properties Limited Company 11. Jun 18 11. Jun 18 5,746,842 HK$22.95 HK$131,890,009
X
Management checks
We assess Transport 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. Transport 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

Was Transport International Holdings Limited's (HKG:62) Earnings Decline Part Of A Broader Industry Downturn?

When Transport International Holdings Limited (HKG:62) announced its most recent earnings (30 June 2018), I did two things: looked at its past earnings track record, then look at what is happening in the industry. … Understanding how Transport International Holdings performed requires a benchmark rather than trying to assess a standalone number at one point in time. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 23%, indicating the rate at which 62 is growing has slowed down

Simply Wall St -

What Transport International Holdings Limited's (HKG:62) ROE Can Tell Us

By way of learning-by-doing, we'll look at ROE to gain a better understanding Transport International Holdings Limited (HKG:62). … Over the last twelve months Transport International Holdings has recorded a ROE of 7.7%. … Check out our latest analysis for Transport International Holdings?

Simply Wall St -

Is Transport International Holdings Limited (HKG:62) A Smart Pick For Income Investors?

Over the past 10 years, Transport International Holdings Limited (HKG:62) has returned an average of 5.00% per year to shareholders in terms of dividend yield. … Let's take a look at Transport International Holdings in more detail. … View our latest analysis for Transport International Holdings

Simply Wall St -

How Has Transport International Holdings Limited's (HKG:62) Performed Against The Industry?

Measuring Transport International Holdings Limited's (HKG:62) track record of past performance is an insightful exercise for investors. … Below, I will assess 62's recent performance announced on 31 December 2017 and compare these figures to its historical trend and industry movements. … Did 62's recent performance beat its trend and industry.

Simply Wall St -

What Does Transport International Holdings Limited's (HKG:62) Ownership Structure Look Like?

Today, I will be analyzing Transport International Holdings Limited’s (HKG:62) recent ownership structure, an important but not-so-popular subject among individual investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … It also impacts the trading environment of company shares, which is more of a concern for short-term investors.

Simply Wall St -

Will Transport International Holdings Limited (HKG:62) Continue To Underperform Its Industry?

and want a simplistic look at the return on Transport International Holdings Limited (HKG:62) stock. … Transport International Holdings Limited (HKG:62) performed in line with its trucking industry on the basis of its ROE – producing a return of 9.01% relative to the peer average of 9.58% over the past 12 months. … But what is more interesting is whether 62 can sustain or improve on this level of return

Simply Wall St -

Transport International Holdings Limited (HKG:62): Can It Deliver A Superior ROE To The Industry?

and want to better understand how you can grow your money by investing in Transport International Holdings Limited (HKG:62). … Transport International Holdings Limited (HKG:62) performed in line with its trucking industry on the basis of its ROE – producing a return of 9.01% relative to the peer average of 9.58% over the past 12 months. … See our latest analysis for Transport International Holdings

Simply Wall St -

Interested In Transport International Holdings Limited (HKG:62)’s Upcoming $0.9 Dividend? You Have 2 Days Left

View our latest analysis for Transport International Holdings 5 checks you should do on a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is their annual yield among the top 25% of dividend payers? … SEHK:62 Historical Dividend Yield May 18th 18 Does Transport International Holdings pass our checks? … Next Steps: Whilst there are few things you may like about Transport International Holdings from a dividend stock perspective, the truth is that overall it probably is not the best choice for a dividend investor.

Simply Wall St -

Company Info

Description

Transport International Holdings Limited, an investment holding company, provides franchised and non-franchised public transportation services in the People’s Republic of China. The company operates in three segments: Franchised Bus Operation; Property Holdings and Development; and All other segments. The Franchised Bus Operation segment provides franchised public bus transport services in Hong Kong. The Property Holdings and Development segment holds, develops, and rents non-residential properties, including shopping mall, office building, and industrial properties. The All other segments provides non-franchised public transport services; and cross-boundary shuttle bus services. Transport International Holdings Limited also offers non-franchised bus services to the residential and commercial sectors through chartered hire services; and car rental and taxi hire services, as well as trades in bus souvenirs. The company was formerly known as The Kowloon Motor Bus Holdings Limited and changed its name to Transport International Holdings Limited in November 2005. Transport International Holdings Limited was founded in 1997 and is headquartered in Kowloon, Hong Kong.

Details
Name: Transport International Holdings Limited
62
Exchange: SEHK
Founded: 1997
HK$10,522,676,113
434,821,327
Website: http://www.tih.hk
Address: Transport International Holdings Limited
No. 9, Po Lun Street,
15th Floor,
Kowloon,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 62 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 19. Nov 1997
DB KWO Ordinary Shares Deutsche Boerse AG DE EUR 19. Nov 1997
Number of employees
Current staff
Staff numbers
12,500
Transport International Holdings employees.
Industry
Trucking
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 12:35
End of day share price update: 2019/04/24 00:00
Last earnings filing: 2019/04/10
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.