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MCK

Millennium & Copthorne Hotels New Zealand NZSE:MCK Stock Report

Last Price

NZ$2.10

Market Cap

NZ$346.5m

7D

0%

1Y

-12.1%

Updated

30 Jun, 2022

Data

Company Financials
MCK fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance1/6
Financial Health6/6
Dividends0/6

MCK Stock Overview

Millennium & Copthorne Hotels New Zealand Limited owns, operates, manages, leases, and franchises hotels in New Zealand and Australia.

Millennium & Copthorne Hotels New Zealand Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Millennium & Copthorne Hotels New Zealand
Historical stock prices
Current Share PriceNZ$2.10
52 Week HighNZ$2.60
52 Week LowNZ$2.10
Beta0.85
1 Month Change-5.83%
3 Month Change-16.00%
1 Year Change-12.13%
3 Year Change-23.64%
5 Year Change-24.73%
Change since IPO950.06%

Recent News & Updates

Shareholder Returns

MCKNZ HospitalityNZ Market
7D0%2.9%1.4%
1Y-12.1%-19.4%-17.1%

Return vs Industry: MCK exceeded the NZ Hospitality industry which returned -19.4% over the past year.

Return vs Market: MCK exceeded the NZ Market which returned -17.1% over the past year.

Price Volatility

Is MCK's price volatile compared to industry and market?
MCK volatility
MCK Average Weekly Movement3.3%
Hospitality Industry Average Movement4.5%
Market Average Movement4.5%
10% most volatile stocks in NZ Market8.7%
10% least volatile stocks in NZ Market3.0%

Stable Share Price: MCK is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: MCK's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1985n/aB. Chiuhttps://www.millenniumhotels.com

Millennium & Copthorne Hotels New Zealand Limited owns, operates, manages, leases, and franchises hotels in New Zealand and Australia. It is also involved in the ownership of residential apartments; investment and development properties. The company was incorporated in 1985 and is headquartered in Auckland, New Zealand.

Millennium & Copthorne Hotels New Zealand Fundamentals Summary

How do Millennium & Copthorne Hotels New Zealand's earnings and revenue compare to its market cap?
MCK fundamental statistics
Market CapNZ$346.50m
Earnings (TTM)NZ$40.05m
Revenue (TTM)NZ$164.77m

8.3x

P/E Ratio

2.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MCK income statement (TTM)
RevenueNZ$164.77m
Cost of RevenueNZ$78.51m
Gross ProfitNZ$86.26m
Other ExpensesNZ$46.21m
EarningsNZ$40.05m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.25
Gross Margin52.35%
Net Profit Margin24.31%
Debt/Equity Ratio0.2%

How did MCK perform over the long term?

See historical performance and comparison

Dividends

1.7%

Current Dividend Yield

14%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is MCK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 MCK?

Other financial metrics that can be useful for relative valuation.

MCK 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.
Key Statistics
Enterprise Value/Revenue1.7x
Enterprise Value/EBITDA5.1x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does MCK's PE Ratio compare to its peers?

MCK PE Ratio vs Peers
The above table shows the PE ratio for MCK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average75.8x
SKC SkyCity Entertainment Group
49.4x25.2%NZ$2.2b
RBD Restaurant Brands New Zealand
26x10.6%NZ$1.3b
EVO Evolve Education Group
153x45.4%NZ$113.3m
PSEL Pakistan Services
74.8xn/aPK₨50.1b
MCK Millennium & Copthorne Hotels New Zealand
8.3xn/aNZ$346.5m

Price-To-Earnings vs Peers: MCK is good value based on its Price-To-Earnings Ratio (8.3x) compared to the peer average (75.8x).


Price to Earnings Ratio vs Industry

How does MCK's PE Ratio compare vs other companies in the Global Hospitality Industry?

Price-To-Earnings vs Industry: MCK is good value based on its Price-To-Earnings Ratio (8.3x) compared to the Oceanic Hospitality industry average (24.1x)


Price to Earnings Ratio vs Fair Ratio

What is MCK'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.

MCK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MCK's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of MCK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MCK (NZ$2.1) is trading above our estimate of fair value (NZ$1.78)

Significantly Below Fair Value: MCK is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MCK's PEG Ratio to determine if it is good value.


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Future Growth

How is Millennium & Copthorne Hotels New Zealand forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


28.5%

Forecasted Consumer Services 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 Millennium & Copthorne Hotels New Zealand 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.


Discover growth companies

Past Performance

How has Millennium & Copthorne Hotels New Zealand performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


1.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MCK has a large one-off gain of NZ$15.9M impacting its December 31 2021 financial results.

Growing Profit Margin: MCK's current net profit margins (24.3%) are lower than last year (28.2%).


Past Earnings Growth Analysis

Earnings Trend: MCK's earnings have grown by 1% per year over the past 5 years.

Accelerating Growth: MCK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MCK had negative earnings growth (-17.4%) over the past year, making it difficult to compare to the Hospitality industry average (34.8%).


Return on Equity

High ROE: MCK's Return on Equity (8.2%) is considered low.


Discover strong past performing companies

Financial Health

How is Millennium & Copthorne Hotels New Zealand's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MCK's short term assets (NZ$223.2M) exceed its short term liabilities (NZ$37.8M).

Long Term Liabilities: MCK's short term assets (NZ$223.2M) exceed its long term liabilities (NZ$25.2M).


Debt to Equity History and Analysis

Debt Level: MCK has more cash than its total debt.

Reducing Debt: MCK's debt to equity ratio has reduced from 13% to 0.2% over the past 5 years.

Debt Coverage: MCK's debt is well covered by operating cash flow (2901.9%).

Interest Coverage: MCK earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Millennium & Copthorne Hotels New Zealand current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.67%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MCK's dividend (1.67%) isn’t notable compared to the bottom 25% of dividend payers in the NZ market (3.1%).

High Dividend: MCK's dividend (1.67%) is low compared to the top 25% of dividend payers in the NZ market (6.04%).


Stability and Growth of Payments

Stable Dividend: MCK is not paying a notable dividend for the NZ market, therefore no need to check if payments are stable.

Growing Dividend: MCK is not paying a notable dividend for the NZ market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: MCK is not paying a notable dividend for the NZ market.


Cash Payout to Shareholders

Cash Flow Coverage: MCK is not paying a notable dividend for the NZ market.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average management tenure


CEO

B. Chiu (72 yo)

17.08yrs

Tenure

NZ$440,342

Compensation

Mr. B. K. Chiu has been a Managing Director and Executive Director at Millennium & Copthorne Hotels New Zealand Limited since May 2005 and since June 2005 respectively. Mr. Chiu is Managing Director of CDL...


Leadership Team

Experienced Management: MCK's management team is considered experienced (4.1 years average tenure).


Board Members

Experienced Board: MCK's board of directors are considered experienced (5.7 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Millennium & Copthorne Hotels New Zealand Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Millennium & Copthorne Hotels New Zealand Limited
  • Ticker: MCK
  • Exchange: NZSE
  • Founded: 1985
  • Industry: Hotels, Resorts and Cruise Lines
  • Sector: Consumer Services
  • Implied Market Cap: NZ$346.498m
  • Shares outstanding: 158.22m
  • Website: https://www.millenniumhotels.com

Location

  • Millennium & Copthorne Hotels New Zealand Limited
  • 280 Queen Street
  • Level 13
  • Auckland
  • 1010
  • New Zealand

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.