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GuocoLand

SGX:F17
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
F17
SGX
SGD2B
Market Cap
  1. Home
  2. SG
  3. Real Estate
Company description

GuocoLand Limited, an investment holding company, engages in the development, investment, and management of various properties. The last earnings update was 78 days ago. More info.


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F17 Share Price and Events
7 Day Returns
1.5%
SGX:F17
0.2%
SG Real Estate
0.3%
SG Market
1 Year Returns
-7.5%
SGX:F17
-7.5%
SG Real Estate
-6.7%
SG Market
F17 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GuocoLand (F17) 1.5% 3.7% 5.3% -7.5% 5.3% -9.2%
SG Real Estate 0.2% 2.4% 6.4% -7.5% 5.6% -5.3%
SG Market 0.3% 3.1% 3.7% -6.7% 8% -3.3%
1 Year Return vs Industry and Market
Price Volatility
F17
Industry
5yr Volatility vs Market

Value

 Is GuocoLand 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 GuocoLand 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 GuocoLand.

SGX:F17 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.2%
Perpetual Growth Rate 10-Year SG Government Bond Rate 2.3%

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 SGX:F17
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.099 (1 + (1- 17%) (236.65%))
2.513
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (2 * 5.96%)
14.22%

Discounted Cash Flow Calculation for SGX:F17 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for GuocoLand 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.

SGX:F17 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 14.22%)
2019 1,503.59 Est @ 101.42% 1,316.37
2020 2,581.39 Est @ 71.68% 1,978.55
2021 3,894.50 Est @ 50.87% 2,613.31
2022 5,308.14 Est @ 36.3% 3,118.37
2023 6,693.55 Est @ 26.1% 3,442.62
2024 7,962.70 Est @ 18.96% 3,585.41
2025 9,074.57 Est @ 13.96% 3,577.26
2026 10,024.25 Est @ 10.47% 3,459.58
2027 10,827.86 Est @ 8.02% 3,271.60
2028 11,510.29 Est @ 6.3% 3,044.74
Present value of next 10 years cash flows SGD29,407.82
SGX:F17 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD11,510.29 × (1 + 2.3%) ÷ (14.22% – 2.3%)
SGD98,786.65
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD98,786.65 ÷ (1 + 14.22%)10
SGD26,131.40
SGX:F17 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD29,407.82 + SGD26,131.40
SGD55,539.22
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD55,539.22 / 1,109.77
SGD50.05
SGX:F17 Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD50.05
Current discount Discount to share price of SGD1.98
= -1 x (SGD1.98 - SGD50.05) / SGD50.05
96%

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

Current Discount
Amount off the current price GuocoLand is available for.
Intrinsic value
>50%
Share price is SGD1.98 vs Future cash flow value of SGD50.05
Current Discount Checks
For GuocoLand to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • GuocoLand's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • GuocoLand's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 GuocoLand's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GuocoLand's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:F17 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SGD SGD0.15
SGX:F17 Share Price ** SGX (2019-04-18) in SGD SGD1.98
Singapore Real Estate Industry PE Ratio Median Figure of 38 Publicly-Listed Real Estate Companies 9.52x
Singapore Market PE Ratio Median Figure of 328 Publicly-Listed Companies 13.18x

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

** Primary Listing of GuocoLand.

SGX:F17 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:F17 Share Price ÷ EPS (both in SGD)

= 1.98 ÷ 0.15

13.46x

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

  • GuocoLand is overvalued based on earnings compared to the SG Real Estate industry average.
  • GuocoLand is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does GuocoLand's expected growth come at a high price?
Raw Data
SGX:F17 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
6.4%per year
Singapore Real Estate Industry PEG Ratio Median Figure of 14 Publicly-Listed Real Estate Companies -0.16x
Singapore Market PEG Ratio Median Figure of 119 Publicly-Listed Companies 1.6x

*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 GuocoLand, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on GuocoLand's assets?
Raw Data
SGX:F17 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SGD SGD3.65
SGX:F17 Share Price * SGX (2019-04-18) in SGD SGD1.98
Singapore Real Estate Industry PB Ratio Median Figure of 46 Publicly-Listed Real Estate Companies 0.59x
Singapore Market PB Ratio Median Figure of 432 Publicly-Listed Companies 0.75x
SGX:F17 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:F17 Share Price ÷ Book Value per Share (both in SGD)

= 1.98 ÷ 3.65

0.54x

* Primary Listing of GuocoLand.

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

  • GuocoLand is good value based on assets compared to the SG Real Estate industry average.
X
Value checks
We assess GuocoLand'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. GuocoLand has a total score of 3/6, 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 GuocoLand expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover GuocoLand, 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
6.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GuocoLand expected to grow at an attractive rate?
  • GuocoLand's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • GuocoLand's earnings growth is expected to exceed the Singapore market average.
  • GuocoLand's revenue growth is expected to exceed the Singapore market average.
Annual Growth Rates Comparison
Raw Data
SGX:F17 Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:F17 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 6.4%
SGX:F17 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 19.5%
Singapore Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -10.1%
Singapore Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.7%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*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
SGX:F17 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:F17 Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 1,212 1
2020-06-30 1,028 1
2019-06-30 855 1
SGX:F17 Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2018-12-31 739 791 163
2018-09-30 966 77 223
2018-06-30 1,160 231 374
2018-03-31 1,371 206 512
2017-12-31 1,411 16 512
2017-09-30 1,272 158 503
2017-06-30 1,113 -571 357
2017-03-31 920 -793 150
2016-12-31 815 -821 130
2016-09-30 823 -289 109
2016-06-30 1,060 550 598
2016-03-31 1,100 662 664

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GuocoLand's earnings are expected to grow by 6.4% yearly, however this is not considered high growth (20% yearly).
  • GuocoLand's revenue is expected to grow by 19.5% yearly, however this is not considered high growth (20% yearly).
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
SGX:F17 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 1 Analyst Estimates (S&P Global) See Below

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

SGX:F17 Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30
2020-06-30
2019-06-30
SGX:F17 Past Financials Data
Date (Data in SGD Millions) EPS *
2018-12-31 0.15
2018-09-30 0.20
2018-06-30 0.34
2018-03-31 0.46
2017-12-31 0.46
2017-09-30 0.45
2017-06-30 0.32
2017-03-31 0.14
2016-12-31 0.12
2016-09-30 0.10
2016-06-30 0.54
2016-03-31 0.60

*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.
  • GuocoLand is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess GuocoLand'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 Singapore market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore 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.
GuocoLand has a total score of 3/6, 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 GuocoLand 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 GuocoLand's growth in the last year to its industry (Real Estate).
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.
  • GuocoLand's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • GuocoLand's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • GuocoLand's 1-year earnings growth is negative, it can't be compared to the SG Real Estate industry average.
Earnings and Revenue History
GuocoLand'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 GuocoLand Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:F17 Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 738.60 163.27 65.85
2018-09-30 966.21 223.16 73.41
2018-06-30 1,160.18 373.51 74.56
2018-03-31 1,370.51 511.75 82.87
2017-12-31 1,410.99 512.22 85.19
2017-09-30 1,272.41 503.34 71.79
2017-06-30 1,113.19 357.19 66.89
2017-03-31 920.30 150.49 57.65
2016-12-31 815.17 129.75 58.13
2016-09-30 822.70 109.18 57.53
2016-06-30 1,059.77 597.56 73.61
2016-03-31 1,099.99 664.23 77.57
2015-12-31 1,259.97 702.47 85.05
2015-09-30 1,376.16 705.98 112.20
2015-06-30 1,159.92 216.45 98.27
2015-03-31 1,398.11 295.26 99.09
2014-12-31 1,342.38 267.25 93.05
2014-09-30 1,241.00 237.61 69.60
2014-06-30 1,251.35 294.44 70.09
2014-03-31 927.01 142.12 63.47
2013-12-31 749.24 109.72 56.22
2013-09-30 729.79 111.88 55.47
2013-06-30 677.44 39.59 52.60
2013-03-31 828.62 71.27 53.45
2012-12-31 840.65 84.76 56.62
2012-09-30 751.56 85.05 51.66
2012-06-30 678.50 63.19 52.22

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GuocoLand is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • GuocoLand's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of GuocoLand'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 0.8x 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 GuocoLand Company Filings, last reported 3 months ago.

SGX:F17 Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,432.09 5,200.09 1,215.90
2018-09-30 4,618.35 5,247.89 718.33
2018-06-30 4,641.49 5,444.62 887.72
2018-03-31 4,491.89 5,683.76 988.93
2017-12-31 3,976.12 4,780.89 852.28
2017-09-30 4,025.96 4,387.06 1,054.84
2017-06-30 3,833.43 4,667.18 1,122.48
2017-03-31 3,436.29 4,755.31 980.82
2016-12-31 3,451.73 4,817.67 1,188.17
2016-09-30 3,466.89 4,265.75 1,125.24
2016-06-30 3,442.21 4,040.41 1,432.75
2016-03-31 3,633.67 4,004.48 1,659.64
2015-12-31 3,674.61 4,382.32 2,117.27
2015-09-30 3,716.56 4,388.61 2,033.17
2015-06-30 3,296.25 5,449.08 679.12
2015-03-31 3,271.23 5,546.77 697.60
2014-12-31 3,102.18 5,705.81 911.70
2014-09-30 3,067.89 5,685.28 729.59
2014-06-30 2,973.53 5,215.04 880.31
2014-03-31 2,812.26 5,109.52 764.19
2013-12-31 2,837.38 5,679.63 1,474.84
2013-09-30 2,849.50 5,380.47 1,126.81
2013-06-30 2,775.10 5,510.35 948.37
2013-03-31 2,494.68 5,665.72 869.43
2012-12-31 2,447.83 5,618.75 804.28
2012-09-30 2,489.02 5,539.89 769.26
2012-06-30 2,532.40 5,532.67 876.34
  • GuocoLand's level of debt (117.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (200% vs 117.3% today).
  • Debt is not well covered by operating cash flow (15.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess GuocoLand'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. GuocoLand has a total score of 2/6, 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 GuocoLand'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
3.54%
Current annual income from GuocoLand dividends. Estimated to be 3.54% next year.
If you bought SGD2,000 of GuocoLand shares you are expected to receive SGD71 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?
  • GuocoLand's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.5%).
  • GuocoLand's dividend is below the markets top 25% of dividend payers in Singapore (5.43%).
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
SGX:F17 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 1 Analyst Estimates (S&P Global) See Below
Singapore Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 278 Stocks 3.9%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.6%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.5%
Singapore 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.

SGX:F17 Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.07 1.00
2020-06-30 0.07 1.00
2019-06-30 0.07 1.00
SGX:F17 Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2018-10-08 0.070 3.834
2018-08-27 0.070 3.712
2017-09-27 0.070 3.281
2017-08-28 0.070 3.034
2016-10-14 0.050 2.666
2015-08-27 0.050 2.700
2014-10-01 0.050 2.587
2014-08-28 0.050 2.398
2013-10-09 0.050 2.283
2012-10-12 0.050 2.272
2011-08-26 0.080 4.466
2010-10-04 0.080 3.405
2010-08-30 0.080 3.515
2009-09-30 0.050 2.318
2009-04-20 0.080 4.592

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 GuocoLand's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess GuocoLand's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 GuocoLand afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GuocoLand has a total score of 3/6, 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 GuocoLand'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
Raymond Choong
COMPENSATION SGD0
AGE 62
TENURE AS CEO 3.6 years
CEO Bio

Mr. Yee How Choong, also known as Raymond, has been Group Chief Executive Officer, Group President and Director at GuocoLand Limited since September 1, 2015. Mr. Choong served as the Chief Executive Officer and President of Hong Leong Financial Group Berhad (aka HLFG or Hong Leong Credit Bhd) from December 1, 2005 to September 1, 2015. Mr. Choong served as the President and Chief Executive Officer of Citibank Savings Inc., Philippines since 2005. Mr. Choong has more than 30 years of experience in banking. His working experience includes: Branch, Citibank, Malaysia from 1981 to 1984, Head of Credit & Business Development, Citibank, Malaysia from 1984 to 1986, Head of Sales & Marketing & Distribution, Citibank, Malaysia from 1987 to 1997, Head of Retail Banking & Credit Card, Citibank, Malaysia from 1998 to 2004. He served as a Portfolio Manager of Hong Leong Asset Management Bhd, Hong Leong GEM Resources Strategic Fund, Hong Leong Global Value Fund and Hong Leong Vietnam Fund. Mr. Choong has been Non Independent and Non Executive Director at Eco World International Berhad since April 27, 2017. He serves as a Director of Hong Leong Asset Management Bhd and Hong Leong Investment Bank Berhad. He serves as a Director of Hong Leong Assurance Berhad. He served as a Non-Independent Non-Executive Director of Hong Leong MSIG Takaful Berhad. He served as Non-Independent Non-Executive Director at Hong Leong Assurance Berhad until September 21, 2015. He served as a Director of Hong Leong Islamic Bank Berhad. He served as a Non-Independent & Non-Executive Director of Hong Leong Bank Berhad since March 9, 2006 until September 21, 2015. He has been a Non Independent & Non Executive Director of GuocoLand (Malaysia) Berhad since September 1, 2015 and has been its Chairman since April 30, 2018. He served as Non-Independent Non-Executive Director at Hong Leong MSIG Takaful Berhad (formerly Hong Leong Tokio Marine Takaful Bhd). Mr. Choong served as a Non-Independent Non-Executive Director of HLG Capital Berhad (Hong Leong Capital Berhad) from December 1, 2005 to September 21, 2015. He served as an Executive Director of Hong Leong Financial Group Berhad from December 1, 2005 to October 2007 and served as its Non Independent Director from December 1, 2005 to September 1, 2015. His qualification includes: In 1975 Bursary Examination of New Zealand from Bayfield High School, Dunedin, New Zealand , Bachelor of Science (Honours) - First Class Major in Biochemistry from University of Otago, Dunedin, New Zealand from 1976 to 1979. He received Master of Business Administration (MBA) from University of Otago, Dunedin, New Zealand from 1980 to 1981.

CEO Compensation
  • Insufficient data for Raymond to compare compensation growth.
  • Raymond's remuneration is lower than average for companies of similar size in Singapore.
Management Team Tenure

Average tenure and age of the GuocoLand management team in years:

3.4
Average Tenure
54
Average Age
  • The tenure for the GuocoLand management team is about average.
Management Team

Raymond Choong

TITLE
Group President
AGE
62
TENURE
3.6 yrs

Michael Lim

TITLE
Group Chief Financial Officer
AGE
54
TENURE
0.7 yrs

Mary Goh

TITLE
Group Company Secretary
TENURE
3.8 yrs

Siew Fah Lim

TITLE
Executive

Leslie Yee

TITLE
General Manager
AGE
49

Hsing Yao Cheng

TITLE
MD of Guocoland Singapore & Country Head
AGE
46
TENURE
4.7 yrs

Edmund Kong

TITLE
MD of Guocoland Malaysia & Country Head
AGE
55
TENURE
3.3 yrs

Teck Ming Hoon

TITLE
MD of Guocoland China & Country Head
TENURE
2.9 yrs
Board of Directors Tenure

Average tenure and age of the GuocoLand board of directors in years:

6.5
Average Tenure
65.5
Average Age
  • The tenure for the GuocoLand board of directors is about average.
Board of Directors

Moses Lee

TITLE
Chairman of the Board
COMPENSATION
SGD141K
AGE
67
TENURE
5.4 yrs

Raymond Choong

TITLE
Group President
AGE
62
TENURE
3.6 yrs

Timothy Teo

TITLE
Independent Non-Executive Director
COMPENSATION
SGD125K
AGE
66
TENURE
10.4 yrs

Abdullah Bin Tarmugi

TITLE
Non-Executive Independent Director
COMPENSATION
SGD86K
AGE
74
TENURE
7.1 yrs

Leng Hai Kwek

TITLE
Non-Independent Non-Executive Director
AGE
65
TENURE
30.4 yrs

Leng Quek

TITLE
Non-Independent Non-Executive Director
AGE
75
TENURE
30.3 yrs

Francis Siu

TITLE
Non-Executive Independent Director
COMPENSATION
SGD110K
AGE
64
TENURE
8.3 yrs

Suat Lim

TITLE
Independent Non-Executive Director
COMPENSATION
SGD110K
AGE
61
TENURE
5.9 yrs

Jennie Chua

TITLE
Independent Non-Executive Director
COMPENSATION
SGD75K
AGE
73
TENURE
5.7 yrs

Hong Cheong Tang

TITLE
Non-Independent Non-Executive Director
AGE
63
TENURE
2.6 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 (SGD) Value (SGD)
07. Jan 19 Buy Hong Leong Company (Malaysia) Berhad Company 03. Jan 19 03. Jan 19 5,500 SGD1.76 SGD9,680
17. Dec 18 Buy Hong Leong Company (Malaysia) Berhad Company 10. Dec 18 11. Dec 18 38,400 SGD1.74 SGD66,823
24. May 18 Sell Lai Wah Teo Individual 23. May 18 23. May 18 -33,333 SGD2.20 SGD-73,283
X
Management checks
We assess GuocoLand'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. GuocoLand 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

Need To Know: GuocoLand Limited (SGX:F17) Insiders Have Been Selling Shares

So shareholders might well want to know whether insiders have been buying or selling shares in GuocoLand Limited (SGX:F17). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was selling shares at around the current price of S$1.93.

Simply Wall St -

Imagine Owning GuocoLand (SGX:F17) And Wondering If The 16% Share Price Slide Is Justified

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … It is unusual to see such modest share price growth in the face of sustained EPS improvements.

Simply Wall St -

Is GuocoLand Limited (SGX:F17) A Financially Sound Company?

While small-cap stocks, such as GuocoLand Limited (SGX:F17) with its market cap of S$2.1b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is … since poor capital management may bring about bankruptcies,

Simply Wall St -

Is GuocoLand Limited (SGX:F17) A Smart Choice For Dividend Investors?

Historically, GuocoLand Limited (SGX:F17) has paid a dividend to shareholders. … Does GuocoLand tick all the boxes of a great dividend stock? … Check out our latest analysis for GuocoLand?

Simply Wall St -

Here's What GuocoLand Limited's (SGX:F17) P/E Ratio Is Telling Us

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … GuocoLand has a price to earnings ratio of 8.95, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Should You Be Worried About Insider Transactions At GuocoLand Limited (SGX:F17)?

So shareholders might well want to know whether insiders have been buying or selling shares in GuocoLand Limited (SGX:F17). … That means that an insider was selling shares at around the current price of S$1.75. … Arguably, insider selling at around current prices should give us reason to reflect on whether the stock is fully valued at the moment

Simply Wall St -

Do Institutions Own GuocoLand Limited (SGX:F17) Shares?

If you want to know who really controls GuocoLand Limited (SGX:F17), then you'll have to look at the makeup of its share registry. … With a market capitalization of S$1.9b, GuocoLand is a decent size, so it is probably on the radar of institutional investors. … institutions are not really that prevalent on the share registry

Simply Wall St -

GuocoLand Limited (SGX:F17): 4 Days To Buy Before The Ex-Dividend Date

Important news for shareholders and potential investors in GuocoLand Limited (SGX:F17): The dividend payment of S$0.07 per share will be distributed to shareholders on 22 November 2018, and the stock will begin trading ex-dividend at an earlier date, 30 October 2018. … 5 checks you should use to assess a dividend stock. … If you are a dividend investor, you should always assess these five key metrics:?

Simply Wall St -

Should You Expect GuocoLand Limited (SGX:F17) To Continue Delivering An ROE Of 11.5%?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … If F17 borrows debt to invest in its business, its profits will be higher. … But ROE does not capture any debt, so we only see high profits and low equity, which is great on the surface.

Simply Wall St -

Who Just Sold Their Shares In GuocoLand Limited (SGX:F17)?

GuocoLand Limited, an investment holding company, engages in the development, investment, and management of various properties. … However, it may not be sufficient to base your investment decision merely on these signals … I’ve analysed two possible reasons driving the insiders’ decision to reduce their investment of late

Simply Wall St -

Company Info

Description

GuocoLand Limited, an investment holding company, engages in the development, investment, and management of various properties. It operates through GuocoLand Singapore, GuocoLand China, GuocoLand Malaysia, and GuocoLand Vietnam segments. The company develops residential, hospitality, commercial, retail, mixed-use, and integrated properties; rents properties; and operates and manages hotels. It also offers management, marketing, and maintenance services. The company was formerly known as First Capital Corporation Ltd. and changed its name to GuocoLand Limited in November 2002. GuocoLand Limited was incorporated in 1976 and is headquartered in Singapore.

Details
Name: GuocoLand Limited
F17
Exchange: SGX
Founded: 1976
SGD2,197,341,319
1,109,768,343
Website: http://www.guocoland.com.sg
Address: GuocoLand Limited
No. 31-01 Guoco Tower,
1 Wallich Street,
Singapore,
078881,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX F17 Ordinary Shares Singapore Exchange SG SGD 25. Apr 1994
MUN FS8 Ordinary Shares Boerse Muenchen DE EUR 25. Apr 1994
Number of employees
Current staff
Staff numbers
0
GuocoLand employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 12:36
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/29
Last earnings filing: 2019/01/31
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.