SGX:C07

Stock Analysis Report

Jardine Cycle & Carriage

Executive Summary

Jardine Cycle & Carriage Limited, an investment holding company, engages in automotive, financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally.

Snowflake

Fundamentals

Proven track record average dividend payer.

Share Price & News

How has Jardine Cycle & Carriage's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: C07 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.4%

C07

-4.3%

SG Retail Distributors

-0.7%

SG Market


1 Year Return

-8.1%

C07

-8.2%

SG Retail Distributors

4.7%

SG Market

Return vs Industry: C07 underperformed the SG Retail Distributors industry which returned -8.2% over the past year.

Return vs Market: C07 underperformed the SG Market which returned 4.7% over the past year.


Shareholder returns

C07IndustryMarket
7 Day-4.4%-4.3%-0.7%
30 Day5.8%5.7%2.9%
90 Day4.1%4.0%2.6%
1 Year-4.8%-8.1%-4.8%-8.2%8.9%4.7%
3 Year-12.3%-20.2%-12.1%-19.9%20.8%8.0%
5 Year-8.3%-23.3%-8.8%-23.7%11.6%-7.0%

Price Volatility Vs. Market

How volatile is Jardine Cycle & Carriage's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Jardine Cycle & Carriage undervalued compared to its fair value and its price relative to the market?

2.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: C07 (SGD31.89) is trading below our estimate of fair value (SGD32.61)

Significantly Below Fair Value: C07 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: C07 is poor value based on its PE Ratio (11.9x) compared to the Retail Distributors industry average (10.3x).

PE vs Market: C07 is good value based on its PE Ratio (11.9x) compared to the SG market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: C07 is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: C07 is overvalued based on its PB Ratio (1.4x) compared to the SG Retail Distributors industry average (0.5x).


Next Steps

Future Growth

How is Jardine Cycle & Carriage forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

9.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: C07's forecast earnings growth (9.9% per year) is above the savings rate (2.3%).

Earnings vs Market: C07's earnings (9.9% per year) are forecast to grow faster than the SG market (5.7% per year).

High Growth Earnings: C07's earnings are forecast to grow, but not significantly.

Revenue vs Market: C07's revenue (6.1% per year) is forecast to grow faster than the SG market (5.3% per year).

High Growth Revenue: C07's revenue (6.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: C07's Return on Equity is forecast to be low in 3 years time (14%).


Next Steps

Past Performance

How has Jardine Cycle & Carriage performed over the past 5 years?

-2.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: C07 has high quality earnings.

Growing Profit Margin: C07's current net profit margins (4.1%) are higher than last year (3.8%).


Past Earnings Growth Analysis

Earnings Trend: C07's earnings have declined by -2.9% per year over the past 5 years.

Accelerating Growth: C07's earnings growth over the past year (9.5%) exceeds its 5-year average (-2.9% per year).

Earnings vs Industry: C07 earnings growth over the past year (9.5%) exceeded the Retail Distributors industry -13.9%.


Return on Equity

High ROE: C07's Return on Equity (12.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Jardine Cycle & Carriage's financial position?


Financial Position Analysis

Short Term Liabilities: C07's short term assets ($10.5B) exceeds its short term liabilities ($9.6B)

Long Term Liabilities: C07's short term assets (10.5B) exceeds its long term liabilities (5.0B)


Debt to Equity History and Analysis

Debt Level: C07's debt to equity ratio (55.2%) is considered high

Reducing Debt: C07's debt to equity ratio has increased from 52% to 55.2% over the past 5 years.

Debt Coverage: C07's debt is not well covered by operating cash flow (17.5%).

Interest Coverage: C07's interest payments on its debt are well covered by EBIT (11.5x coverage).


Balance Sheet

Inventory Level: C07 has a high level of physical assets or inventory.

Debt Coverage by Assets: C07's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

What is Jardine Cycle & Carriage's current dividend yield, its reliability and sustainability?

3.72%

Current Dividend Yield


Dividend Yield vs Market

company3.7%marketbottom25%2.6%markettop25%5.6%industryaverage3.8%forecastin3Years4.0%

Current dividend yield vs market & industry

Notable Dividend: C07's dividend (3.72%) is higher than the bottom 25% of dividend payers in the SG market (2.56%).

High Dividend: C07's dividend (3.72%) is low compared to the top 25% of dividend payers in the SG market (5.57%).


Stability and Growth of Payments

Stable Dividend: C07's dividend payments have been volatile in the past 10 years.

Growing Dividend: C07's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.4%), C07's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: C07's dividends in 3 years are forecast to be well covered by earnings (35.6% payout ratio).


Next Steps

Management

What is the CEO of Jardine Cycle & Carriage's salary, the management and board of directors tenure and is there insider trading?

4.7yrs

Average management tenure


CEO

Benjamin Birks 0

0.2yrs

Tenure

0

Mr. Benjamin Birks has been Group Managing Director and Executive Director at Jardine Cycle & Carriage Limited since September 30, 2019. 


Management Age and Tenure

4.7yrs

Average Tenure

53yo

Average Age

Experienced Management: C07's management team is considered experienced (4.7 years average tenure).


Board Age and Tenure

7.2yrs

Average Tenure

65yo

Average Age

Experienced Board: C07's board of directors are considered experienced (7.2 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 not been meaningfully diluted in the past year.


Management Team

  • Kim Cheah (67yo)

    Managing Director of Business Development

    • Tenure: 5.8yrs
    • Compensation: US$412.00k
  • Chee Keon Liew

    Chief Executive Officer of Australian Motor Operations

    • Tenure: 25.8yrs
  • Alan Cockrell

    Managing Director of Truck Investments In New Zealand

    • Tenure: 0yrs
  • Stuart Jamieson

    Managing Director of Group's Dealership Operations

    • Tenure: 0yrs
  • Kin Foo Wong (53yo)

    Chief Executive Officer of Cycle & Carriage Bintang

    • Tenure: 0yrs
  • Jeffery Tan (58yo)

    Director of Legal & Corporate Affairs

    • Tenure: 3.6yrs
    • Compensation: US$23.00k
  • Jason Wen

    Director of Human Resources

    • Tenure: 0yrs
  • Eric Chan (50yo)

    MD of Direct Motor Interests and MD of Cycle & Carriage Singapore

    • Tenure: 7.8yrs
  • Stephen Gore (47yo)

    Group Finance Director & Director

    • Tenure: 0.6yrs
  • Benjamin Birks

    Group MD & Director

    • Tenure: 0.2yrs

Board Members

  • Mark Spencer Greenberg (50yo)

    Non-Executive Director

    • Tenure: 13.4yrs
    • Compensation: US$101.00k
  • Anthony John Liddell Nightingale (72yo)

    Non-Executive & Independent Director

    • Tenure: 26.8yrs
    • Compensation: US$75.00k
  • Yoon Chiang Boon (84yo)

    Deputy Chairman

    • Tenure: 23.5yrs
    • Compensation: US$100.00k
  • Vimala V. Menon (64yo)

    Non-Executive & Independent Director

    • Tenure: 2.6yrs
    • Compensation: US$70.00k
  • Michael Kok (67yo)

    Non-Executive & Independent Director

    • Tenure: 6.6yrs
    • Compensation: US$76.00k
  • Datuk Hassan Abas (65yo)

    Non Executive & Lead Independent Director

    • Tenure: 6.8yrs
    • Compensation: US$145.00k
  • Ben Keswick (72yo)

    Chairman

    • Tenure: 7.6yrs
    • Compensation: US$165.00k
  • Hwee Hua Lim (60yo)

    Non-Executive & Independent Director

    • Tenure: 8.3yrs
    • Compensation: US$101.00k
  • Stephen Gore (47yo)

    Group Finance Director & Director

    • Tenure: 0.6yrs
  • Benjamin Birks

    Group MD & Director

    • Tenure: 0.2yrs

Company Information

Jardine Cycle & Carriage Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Jardine Cycle & Carriage Limited
  • Ticker: C07
  • Exchange: SGX
  • Founded: 1899
  • Industry: Distributors
  • Sector: Retail
  • Market Cap: S$12.766b
  • Shares outstanding: 395.24m
  • Website: https://www.jcclgroup.com

Number of Employees


Location

  • Jardine Cycle & Carriage Limited
  • 239 Alexandra Road
  • Singapore
  • 159930
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
C07SGX (Singapore Exchange)YesOrdinary SharesSGSGDSep 1993
JCYC.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDSep 1993
CYCDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 1993
JCYG.YOTCPK (Pink Sheets LLC)ADRUSUSDSep 2004

Biography

Jardine Cycle & Carriage Limited, an investment holding company, engages in automotive, financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, inf ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/13 12:43
End of Day Share Price2019/11/13 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.