White Horse Berhad
Market Cap
RM143.5m
Last Updated
2021/03/05 11:09 UTC
Data Sources
Company Financials
Executive Summary
White Horse Berhad, an investment holding company, designs, manufactures, markets, distributes, and sells tiles in Malaysia, Vietnam, Indonesia, the Philippines, Singapore, Thailand, and China. More Details
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet and fair value.
Share Price & News
How has White Horse Berhad's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WTHORSE is less volatile than 75% of MY stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: WTHORSE's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
-3.1%
WTHORSE
-8.6%
MY Building
-0.6%
MY Market
1 Year Return
-33.3%
WTHORSE
75.4%
MY Building
10.5%
MY Market
Return vs Industry: WTHORSE underperformed the MY Building industry which returned 84% over the past year.
Return vs Market: WTHORSE underperformed the MY Market which returned 10.2% over the past year.
Shareholder returns
| WTHORSE | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.1% | -8.6% | -0.6% |
| 30 Day | -4.6% | -4.5% | 1.8% |
| 90 Day | -8.8% | 21.2% | -0.6% |
| 1 Year | -33.3%-33.3% | 77.1%75.4% | 14.1%10.5% |
| 3 Year | -67.0%-67.4% | 21.5%18.7% | -1.2%-10.2% |
| 5 Year | -68.3%-71.6% | -7.7%-12.9% | 12.2%-6.3% |
Long-Term Price Volatility Vs. Market
How volatile is White Horse Berhad's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Is White Horse Berhad (KLSE:WTHORSE) Using Too Much Debt?4 months ago | Simply Wall St
We Think White Horse Berhad (KLSE:WTHORSE) Has A Fair Chunk Of Debt8 months ago | Simply Wall St
Time To Worry? Analysts Are Downgrading Their White Horse Berhad (KLSE:WTHORSE) OutlookValuation
Is White Horse Berhad undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WTHORSE (MYR0.63) is trading below our estimate of fair value (MYR2.49)
Significantly Below Fair Value: WTHORSE is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: WTHORSE is unprofitable, so we can't compare its PE Ratio to the MY Building industry average.
PE vs Market: WTHORSE is unprofitable, so we can't compare its PE Ratio to the MY market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate WTHORSE's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: WTHORSE is good value based on its PB Ratio (0.2x) compared to the MY Building industry average (0.6x).
Next Steps
Future Growth
How is White Horse Berhad forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
18.6%
Forecasted Capital Goods industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as White Horse Berhad has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Next Steps
- Examine whether White Horse Berhad is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Explore growth companies in the Capital Goods industry.
Past Performance
How has White Horse Berhad performed over the past 5 years?
-70.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WTHORSE is currently unprofitable.
Growing Profit Margin: WTHORSE is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: WTHORSE is unprofitable, and losses have increased over the past 5 years at a rate of 70.5% per year.
Accelerating Growth: Unable to compare WTHORSE's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: WTHORSE is unprofitable, making it difficult to compare its past year earnings growth to the Building industry (20.5%).
Return on Equity
High ROE: WTHORSE has a negative Return on Equity (-9.62%), as it is currently unprofitable.
Next Steps
Financial Health
How is White Horse Berhad's financial position?
Financial Position Analysis
Short Term Liabilities: WTHORSE's short term assets (MYR514.2M) exceed its short term liabilities (MYR231.6M).
Long Term Liabilities: WTHORSE's short term assets (MYR514.2M) exceed its long term liabilities (MYR33.3M).
Debt to Equity History and Analysis
Debt Level: WTHORSE's debt to equity ratio (21.5%) is considered satisfactory.
Reducing Debt: WTHORSE's debt to equity ratio has reduced from 32.7% to 21.5% over the past 5 years.
Debt Coverage: WTHORSE's debt is well covered by operating cash flow (52.1%).
Interest Coverage: Insufficient data to determine if WTHORSE's interest payments on its debt are well covered by EBIT.
Balance Sheet
Next Steps
Dividend
What is White Horse Berhad current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate WTHORSE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate WTHORSE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if WTHORSE's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if WTHORSE's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: WTHORSE is not paying a notable dividend for the MY market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of WTHORSE's dividend in 3 years as they are not forecast to pay a notable one for the MY market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
21.6yrs
Average management tenure
CEO
Yuan Liao (67 yo)
no data
Tenure
RM199,875
Compensation
Mr. Yuan Shun Liao has been an Executive Chairman of White Horse Bhd since August 6, 1999 and serves as Managing Director. Mr. Liao ventured into the ceramic tiles industry and has more than 25 years of ex...
CEO Compensation Analysis
Compensation vs Market: Yuan's total compensation ($USD49.33K) is below average for companies of similar size in the MY market ($USD143.88K).
Compensation vs Earnings: Yuan's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman & MD | no data | RM199.88k | 12.34% MYR 17.7m | |
| Deputy MD & Director | 21.58yrs | RM401.00k | 5.67% MYR 8.1m | |
| Deputy MD & Director | 21.58yrs | RM404.00k | 2.2% MYR 3.2m | |
| General Manager of Marketing | no data | no data | no data | |
| Senior Manager of Human Resources | 18.17yrs | no data | no data | |
| Company Secretary | 21.83yrs | no data | no data |
21.6yrs
Average Tenure
62.5yo
Average Age
Experienced Management: WTHORSE's management team is seasoned and experienced (21.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman & MD | no data | RM199.88k | 12.34% MYR 17.7m | |
| Deputy MD & Director | 21.58yrs | RM401.00k | 5.67% MYR 8.1m | |
| Deputy MD & Director | 21.58yrs | RM404.00k | 2.2% MYR 3.2m | |
| Non Independent & Non-Executive Director | 21.58yrs | RM201.00k | 4.87% MYR 7.0m | |
| Non-Independent Non-Executive Director | 21.58yrs | RM278.00k | 5.45% MYR 7.8m | |
| Non-Independent & Non-Executive Director | 21.58yrs | RM151.00k | 0.48% MYR 691.7k | |
| Non Independent & Non-Executive Director | 21.58yrs | RM235.00k | 5.44% MYR 7.8m | |
| Independent Non-Executive Director | 1.67yrs | RM26.00k | no data | |
| Senior Independent Non Executive Director | 1.67yrs | RM52.50k | no data | |
| Independent & Non-Executive Director | 2.58yrs | RM52.50k | no data |
21.6yrs
Average Tenure
63yo
Average Age
Experienced Board: WTHORSE's board of directors are seasoned and experienced ( 21.6 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.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
White Horse Berhad's company bio, employee growth, exchange listings and data sources
Key Information
- Name: White Horse Berhad
- Ticker: WTHORSE
- Exchange: KLSE
- Founded: 1997
- Industry: Building Products
- Sector: Capital Goods
- Market Cap: RM143.458m
- Shares outstanding: 227.71m
- Website: https://www.whitehorse.my
Number of Employees
Location
- White Horse Berhad
- PLO 464, Jalan Gangsa
- Pasir Gudang Industrial Estate
- Pasir Gudang
- Johor
- 81700
- Malaysia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| WTHORSE | KLSE (Bursa Malaysia) | Yes | Ordinary Shares | MY | MYR | Oct 1999 |
Biography
White Horse Berhad, an investment holding company, designs, manufactures, markets, distributes, and sells tiles in Malaysia, Vietnam, Indonesia, the Philippines, Singapore, Thailand, and China. The company...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/05 11:09 |
| End of Day Share Price | 2021/03/05 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.