NZSE:KFL

Stock Analysis Report

Executive Summary

Kingfish Limited is a closed-ended equity mutual fund launched and managed by Fisher Funds Management Limited.

Rewards


Snowflake Analysis

Share Price & News

How has Kingfish's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KFL has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

KFL

0.6%

NZ Capital Markets

0.2%

NZ Market


1 Year Return

17.9%

KFL

23.4%

NZ Capital Markets

22.4%

NZ Market

Return vs Industry: KFL underperformed the NZ Capital Markets industry which returned 23.4% over the past year.

Return vs Market: KFL underperformed the NZ Market which returned 22.4% over the past year.


Shareholder returns

KFLIndustryMarket
7 Day0%0.6%0.2%
30 Day5.3%-1.8%2.3%
90 Day10.5%2.8%2.3%
1 Year28.5%17.9%29.1%23.4%27.5%22.4%
3 Year50.5%15.3%81.5%57.9%60.4%39.3%
5 Year82.5%17.9%197.4%133.8%95.7%52.2%

Price Volatility Vs. Market

How volatile is Kingfish's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Kingfish undervalued compared to its fair value and its price relative to the market?

45.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KFL (NZ$1.58) is trading below our estimate of fair value (NZ$2.91)

Significantly Below Fair Value: KFL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: KFL is good value based on its PE Ratio (9.6x) compared to the Capital Markets industry average (22.3x).

PE vs Market: KFL is good value based on its PE Ratio (9.6x) compared to the NZ market (20.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: KFL is good value based on its PB Ratio (1x) compared to the XO Capital Markets industry average (1.9x).

Future Growth

How is Kingfish forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

6.5%

Forecasted Diversified Financials 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 Kingfish 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.

Past Performance

How has Kingfish performed over the past 5 years?

24.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KFL has a high level of non-cash earnings.

Growing Profit Margin: KFL's current net profit margins (81.7%) are lower than last year (88.9%).


Past Earnings Growth Analysis

Earnings Trend: KFL's earnings have grown significantly by 24.5% per year over the past 5 years.

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

Earnings vs Industry: KFL had negative earnings growth (-30%) over the past year, making it difficult to compare to the Capital Markets industry average (-2.7%).


Return on Equity

High ROE: KFL's Return on Equity (9.1%) is considered low.


Return on Assets


Return on Capital Employed

Financial Health

How is Kingfish's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: KFL has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if KFL's debt is covered by short term assets.


Financial Institutions Analysis

Asset Level: KFL's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if KFL has a sufficient allowance for bad loans.

Low Risk Liabilities: KFL reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if KFL has an acceptable proportion of non-loan assets held.

Low Risk Deposits: KFL has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if KFL has an appropriate level of bad loans.

Dividend

What is Kingfish's current dividend yield, its reliability and sustainability?

7.56%

Current Dividend Yield


Dividend Yield vs Market

company7.6%marketbottom25%2.9%markettop25%5.5%industryaverage3.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: KFL's dividend (7.56%) is higher than the bottom 25% of dividend payers in the NZ market (2.94%).

High Dividend: KFL's dividend (7.56%) is in the top 25% of dividend payers in the NZ market (5.49%)


Stability and Growth of Payments

Stable Dividend: KFL's dividend payments have been volatile in the past 10 years.

Growing Dividend: KFL's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (74.3%), KFL's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

What is the CEO of Kingfish's salary, the management and board of directors tenure and is there insider trading?

7.3yrs

Average board tenure


CEO

Kingfish has no CEO, or we have no data on them.


Board Age and Tenure

7.3yrs

Average Tenure

Experienced Board: KFL's board of directors are considered experienced (7.3 years average tenure).


Insider Trading

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 been diluted in the past year, with total shares outstanding growing by 8%.


Management Team


    Board Members

    • Alistair Ryan

      Chairman

      • Tenure: 7.3yrs
      • Compensation: NZ$40.00k
    • Carol Campbell

      Independent Director

      • Tenure: 7.5yrs
      • Compensation: NZ$32.50k
    • R. Coupe

      Independent Director

      • Tenure: 6.8yrs
      • Compensation: NZ$27.50k

    Company Information

    Kingfish Limited's company bio, employee growth, exchange listings and data sources


    Key Information

    • Name: Kingfish Limited
    • Ticker: KFL
    • Exchange: NZSE
    • Founded: 2004
    • Industry: Asset Management and Custody Banks
    • Sector: Diversified Financials
    • Market Cap: NZ$386.205m
    • Shares outstanding: 244.43m
    • Website: https://www.kingfishlimited.co.nz

    Location

    • Kingfish Limited
    • Level 1
    • Crown Centre
    • Auckland
    • 622
    • New Zealand

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    KFLNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDMar 2004
    KNFH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 2004

    Biography

    Kingfish Limited is a closed-ended equity mutual fund launched and managed by Fisher Funds Management Limited. The fund invests in public equity markets of New Zealand. It seeks to invest in stocks of comp ...


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2019/12/10 10:30
    End of Day Share Price2019/12/09 00:00
    Earnings2019/09/30
    Annual Earnings2019/03/31


    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.