SGX:F17

Stock Analysis Report

Executive Summary

GuocoLand Limited, an investment holding company, engages in the development, investment, and management of various properties.


Snowflake Analysis

Average dividend payer and fair value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: F17 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

F17

0.4%

SG Real Estate

-0.3%

SG Market


1 Year Return

-2.7%

F17

-6.8%

SG Real Estate

-3.2%

SG Market

Return vs Industry: F17 exceeded the SG Real Estate industry which returned -5.9% over the past year.

Return vs Market: F17 underperformed the SG Market which returned -2.7% over the past year.


Shareholder returns

F17IndustryMarket
7 Day0%0.4%-0.3%
30 Day-7.7%-3.1%-2.1%
90 Day-12.3%0.6%-1.1%
1 Year0.7%-2.7%-4.0%-6.8%0.8%-3.2%
3 Year7.5%-3.0%-2.7%-10.3%8.6%-2.9%
5 Year15.6%-3.0%-6.7%-18.6%8.8%-9.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

7.25x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: F17 (SGD1.8) is trading above our estimate of fair value (SGD0.93)

Significantly Below Fair Value: F17 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: F17 is good value based on its PE Ratio (7.3x) compared to the Real Estate industry average (11.7x).

PE vs Market: F17 is good value based on its PE Ratio (7.3x) compared to the SG market (13.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate F17's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: F17 is good value based on its PB Ratio (0.5x) compared to the SG Real Estate industry average (0.5x).


Next Steps

Future Growth

How is GuocoLand forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

7.8%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if F17's forecast earnings growth is above the savings rate (1.8%).

Earnings vs Market: Insufficient data to determine if F17's earnings are forecast to grow faster than the SG market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: F17's revenue (7.8% per year) is forecast to grow faster than the SG market (5.1% per year).

High Growth Revenue: F17's revenue (7.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: F17's Return on Equity is forecast to be low in 3 years time (8.6%).


Next Steps

Past Performance

How has GuocoLand performed over the past 5 years?

-10.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: F17 has a large one-off gain of SGD197.4M impacting its December 31 2019 financial results.

Growing Profit Margin: F17's current net profit margins (23%) are lower than last year (27.1%).


Past Earnings Growth Analysis

Earnings Trend: F17's earnings have declined by -10.9% per year over the past 5 years.

Accelerating Growth: F17's earnings growth over the past year (40.3%) exceeds its 5-year average (-10.9% per year).

Earnings vs Industry: F17 earnings growth over the past year (40.3%) exceeded the Real Estate industry -37.7%.


Return on Equity

High ROE: F17's Return on Equity (6.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is GuocoLand's financial position?


Financial Position Analysis

Short Term Liabilities: F17's short term assets (SGD4.9B) exceed its short term liabilities (SGD1.1B).

Long Term Liabilities: F17's short term assets (SGD4.9B) do not cover its long term liabilities (SGD5.2B).


Debt to Equity History and Analysis

Debt Level: F17's debt to equity ratio (126.4%) is considered high.

Reducing Debt: F17's debt to equity ratio has reduced from 183.8% to 126.4% over the past 5 years.

Debt Coverage: F17's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: F17's interest payments on its debt are well covered by EBIT (3.2x coverage).


Balance Sheet

Inventory Level: F17 has a high level of physical assets or inventory.

Debt Coverage by Assets: F17's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

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

3.91%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: F17's dividend (3.89%) is higher than the bottom 25% of dividend payers in the SG market (2.54%).

High Dividend: F17's dividend (3.89%) is low compared to the top 25% of dividend payers in the SG market (5.72%).


Stability and Growth of Payments

Stable Dividend: F17's dividend payments have been volatile in the past 10 years.

Growing Dividend: F17's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.4%), F17's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: F17's dividends in 3 years are forecast to be well covered by earnings (19.9% payout ratio).


Next Steps

Management

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

4.3yrs

Average management tenure


CEO

Raymond Choong (63yo)

4.4yrs

Tenure

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 Office ...


Leadership Team

NamePositionTenureCompensationOwnership
Yee How Choong
Group President4.4yrsno datano data
Yoke Tuan Lim
Group Chief Financial Officer1.5yrsno datano data
Hsing Yao Cheng
MD of Guocoland Singapore & Country Head5.5yrsno datano data
Woon Kong
MD of Guocoland Malaysia & Country Head4.1yrsno datano data
Teck Ming Hoon
MD of Guocoland China & Country Head3.8yrsno datano data
Swon Ping Goh
Group Company Secretary4.7yrsno datano data
Siew Lim
Executive0yrsno datano data
Leslie Yee
General Manager0yrsno datano data

4.3yrs

Average Tenure

55yo

Average Age

Experienced Management: F17's management team is considered experienced (4.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Yee How Choong
Group President4.4yrsno datano data
Leng Quek
Non-Independent Non-Executive Director31.2yrsno data2.54% SGD50.7m
Leng Hai Kwek
Non-Independent Non-Executive Director31.3yrsno data3.18% SGD63.5m
Hong Cheong Tang
Non-Independent Non-Executive Director3.4yrsno data0.031% SGD621.0k
Kheng Yeng Chua
Independent Non-Executive Director6.5yrsS$75.00kno data
Abdullah Bin Tarmugi
Non-Executive Independent Director7.9yrsS$86.00kno data
Lai Wah Teo
Independent Non-Executive Director11.3yrsS$125.00kno data
Suat Jien Lim
Independent Non-Executive Director6.8yrsS$110.00kno data
Kim Poo Lee
Independent Non-Executive Chairman of the Board6.3yrsS$154.81kno data
Wai Keung Siu
Non-Executive Independent Director9.2yrsS$110.00kno data

7.3yrs

Average Tenure

66.5yo

Average Age

Experienced Board: F17's board of directors are considered experienced (7.3 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

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


Key Information

  • Name: GuocoLand Limited
  • Ticker: F17
  • Exchange: SGX
  • Founded: 1976
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: S$1.998b
  • Shares outstanding: 1.11b
  • Website: https://www.guocoland.com.sg

Location

  • GuocoLand Limited
  • No. 31-01 Guoco Tower
  • 1 Wallich Street
  • Singapore
  • 78881
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FS8MUN (Boerse Muenchen)YesOrdinary SharesDEEURApr 1994
F17SGX (Singapore Exchange)YesOrdinary SharesSGSGDApr 1994

Biography

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, GuocoLand Vietnam, and Others 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. GuocoLand Limited is a subsidiary of GuocoLand Assets Pte. Ltd. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/21 12:45
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


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.