China Gas Holdings Limited operates as a gas operator and service provider in the People’s Republic of China. The company invests in, constructs, operates, and maintains city and town gas pipeline infrastructure facilities, gas terminals, storage and transportation facilities, and gas logistics systems; transmits natural gas and liquefied petroleum gas (LPG) to residential, industrial, and commercial customers; constructs and operates compressed natural gas/liquefied natural gas refilling stations; and develops technologies related to natural gas and LPG. It is also involved in the investment in petrochemical facilities of storage and transportation; producing and storing LPG and chemical products, as well as propane and butane; CBM business; exploration and production of coal bed methane; and gas station administration, management, and consultancy services.
China Gas Holdings Fundamentals Summary
How do China Gas Holdings's earnings and revenue compare to its market cap?
Is 384 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
6/6
Valuation Score 6/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 384?
Other financial metrics that can be useful for relative valuation.
The above table shows the n/a ratio for 384. This is calculated by dividing 384's market cap by their current
preferred multiple.
What is 384's n/a Ratio?
n/a Ratio
0x
n/a
n/a
Market Cap
HK$64.92b
384 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Price-To-Earnings vs Industry: 384 is good value based on its Price-To-Earnings Ratio (8.5x) compared to the Hong Kong Gas Utilities industry average (9.2x)
Price to Earnings Ratio vs Fair Ratio
What is 384's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
384 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio
8.5x
Fair PE Ratio
13.7x
Price-To-Earnings vs Fair Ratio: 384 is good value based on its Price-To-Earnings Ratio (8.5x) compared to the estimated Fair Price-To-Earnings Ratio (13.7x).
Share Price vs Fair Value
What is the Fair Price of 384 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 384 (HK$12.02) is trading below our estimate of fair value (HK$35.14)
Significantly Below Fair Value: 384 is trading below fair value by more than 20%.
Price to Earnings Growth Ratio
PEG Ratio: 384 is good value based on its PEG Ratio (0.7x)
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Future Growth
How is China Gas Holdings forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?
Future Growth Score
1/6
Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
12.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 384's forecast earnings growth (12.1% per year) is above the savings rate (1.5%).
Earnings vs Market: 384's earnings (12.1% per year) are forecast to grow slower than the Hong Kong market (17.1% per year).
High Growth Earnings: 384's earnings are forecast to grow, but not significantly.
Revenue vs Market: 384's revenue (9.3% per year) is forecast to grow slower than the Hong Kong market (10.3% per year).
High Growth Revenue: 384's revenue (9.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 384's Return on Equity is forecast to be low in 3 years time (13.5%).
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Past Performance
How has China Gas Holdings performed over the past 5 years?
Past Performance Score
2/6
Past Performance Score 2/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
12.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 384 has high quality earnings.
Growing Profit Margin: 384's current net profit margins (8.7%) are lower than last year (15%).
Past Earnings Growth Analysis
Earnings Trend: 384's earnings have grown by 12.1% per year over the past 5 years.
Accelerating Growth: 384's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: 384 had negative earnings growth (-26.9%) over the past year, making it difficult to compare to the Gas Utilities industry average (18.1%).
Return on Equity
High ROE: 384's Return on Equity (12.2%) is considered low.
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Financial Health
How is China Gas Holdings's financial position?
Financial Health Score
4/6
Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: 384's short term assets (HK$55.4B) exceed its short term liabilities (HK$54.3B).
Long Term Liabilities: 384's short term assets (HK$55.4B) exceed its long term liabilities (HK$36.8B).
Debt to Equity History and Analysis
Debt Level: 384's net debt to equity ratio (63.8%) is considered high.
Reducing Debt: 384's debt to equity ratio has reduced from 98.6% to 77.9% over the past 5 years.
Debt Coverage: 384's debt is not well covered by operating cash flow (9.9%).
Interest Coverage: 384's interest payments on its debt are well covered by EBIT (6.8x coverage).
Balance Sheet
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Dividend
What is China Gas Holdings's current dividend yield, its reliability and sustainability?
Dividend Score
5/6
Dividend Score 5/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
4.58%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: 384's dividend (4.58%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.7%).
High Dividend: 384's dividend (4.58%) is low compared to the top 25% of dividend payers in the Hong Kong market (7.78%).
Stability and Growth of Payments
Stable Dividend: 384's dividends per share have been stable in the past 10 years.
Growing Dividend: 384's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: With its reasonably low payout ratio (39.5%), 384's dividend payments are well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: 384 is paying a dividend but the company has no free cash flows.
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Management
How experienced are the management team and are they aligned to shareholders interests?
8.5yrs
Average management tenure
CEO
Ming Hui Liu (58 yo)
9.83yrs
Tenure
HK$18,200,000
Compensation
Mr. Ming Hui Liu serves as the Managing Director and President of China Gas Holdings Limited since August 2012. He served as the Managing Director of China Gas Holdings Ltd. from July 2002 to January 25, 2...
CEO Compensation Analysis
Compensation vs Market: Ming Hui's total compensation ($USD2.32M) is above average for companies of similar size in the Hong Kong market ($USD591.24K).
Compensation vs Earnings: Ming Hui's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: 384's management team is seasoned and experienced (8.5 years average tenure).
Board Members
Experienced Board: 384's board of directors are considered experienced (8.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
China Gas Holdings Limited's employee growth, exchange listings and data sources
All financial data provided by Standard & Poor's Capital IQ.
Data
Last Updated (UTC time)
Company Analysis
2022/06/28 00:00
End of Day Share Price
2022/06/28 00:00
Earnings
2022/03/31
Annual Earnings
2022/03/31
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.