SGX:C41

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Cortina Holdings

Executive Summary

Cortina Holdings Limited, an investment holding company, retails and distributes timepieces and accessories in Singapore, Malaysia, Thailand, Indonesia, Hong Kong, Taiwan, and Russia. More Details


Snowflake Analysis

Flawless balance sheet with solid track record.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: C41's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.6%

C41

0.3%

SG Specialty Retail

-0.5%

SG Market


1 Year Return

39.1%

C41

-7.3%

SG Specialty Retail

-20.7%

SG Market

Return vs Industry: C41 exceeded the SG Specialty Retail industry which returned -7.3% over the past year.

Return vs Market: C41 exceeded the SG Market which returned -20.7% over the past year.


Shareholder returns

C41IndustryMarket
7 Day-1.6%0.3%-0.5%
30 Day10.8%2.7%0.9%
90 Day37.0%8.2%-3.2%
1 Year45.4%39.1%-2.7%-7.3%-16.4%-20.7%
3 Year161.1%129.8%-7.2%-16.8%-19.5%-29.3%
5 Year180.3%131.3%-25.4%-34.8%-6.6%-23.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: C41 (SGD1.85) is trading below our estimate of fair value (SGD7.33)

Significantly Below Fair Value: C41 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: C41 is good value based on its PE Ratio (7.8x) compared to the SG Specialty Retail industry average (14.9x).

PE vs Market: C41 is good value based on its PE Ratio (7.8x) compared to the SG market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate C41's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: C41 is overvalued based on its PB Ratio (1.3x) compared to the SG Specialty Retail industry average (0.8x).


Next Steps

Future Growth

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

21.2%

Forecasted Retail 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 Cortina Holdings 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.


Next Steps

Past Performance

How has Cortina Holdings performed over the past 5 years?

28.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: C41 has high quality earnings.

Growing Profit Margin: C41's current net profit margins (7.6%) are higher than last year (6.3%).


Past Earnings Growth Analysis

Earnings Trend: C41's earnings have grown significantly by 28.8% per year over the past 5 years.

Accelerating Growth: C41's earnings growth over the past year (35.5%) exceeds its 5-year average (28.8% per year).

Earnings vs Industry: C41 earnings growth over the past year (35.5%) exceeded the Specialty Retail industry 8%.


Return on Equity

High ROE: C41's Return on Equity (17.3%) is considered low.


Next Steps

Financial Health

How is Cortina Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: C41's short term assets (SGD268.3M) exceed its short term liabilities (SGD67.5M).

Long Term Liabilities: C41's short term assets (SGD268.3M) exceed its long term liabilities (SGD30.5M).


Debt to Equity History and Analysis

Debt Level: C41's debt to equity ratio (2.1%) is considered satisfactory.

Reducing Debt: C41's debt to equity ratio has reduced from 61.4% to 2.1% over the past 5 years.

Debt Coverage: C41's debt is well covered by operating cash flow (1756.7%).

Interest Coverage: C41's interest payments on its debt are well covered by EBIT (42.2x coverage).


Balance Sheet


Next Steps

Dividend

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

3.51%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: C41's dividend (3.51%) is higher than the bottom 25% of dividend payers in the SG market (2.51%).

High Dividend: C41's dividend (3.51%) is low compared to the top 25% of dividend payers in the SG market (5.28%).


Stability and Growth of Payments

Stable Dividend: C41's dividend payments have been volatile in the past 10 years.

Growing Dividend: C41's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25.3%), C41's dividend payments are well 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.


Next Steps

Management

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

18.3yrs

Average board tenure


CEO

Anthony Lim (85 yo)

no data

Tenure

Mr. Keen Ban Lim, also known as Anthony, is Founder of Cortina Watch Pte Ltd and serves as its Chief Executive Officer Mr. Lim serves as the Chairman of the Board and Chief Executive Officer of Cortina Hol ...


Board Members

NamePositionTenureCompensationOwnership
Keen Ban Lim
Founderno datano datano data
Jit Ming Lim
Deputy Chairman & Deputy CEO9.75yrsno datano data
Chuen Tek Yu
Head of Strategic Planning35.33yrsno data9.82%
SGD 30.1m
Jit Yaw Lim
COO & Executive Director18.33yrsno datano data
Yin Chian Lim
Marketing Director9.92yrsno datano data
Foo Pieng Long
Independent Director20.25yrsno data5.17%
SGD 15.8m
See Jin Foo
Independent Director47.83yrsno data4.29%
SGD 13.1m
Kin Chon Tshai
Director of Cortina Watch Sdn Bhdno datano datano data
Ping Sum Lau
Independent Director18.33yrsno data0.018%
SGD 55.5k
Sek Peng Chin
Lead Independent Director12.33yrsno datano data
Keng Chiew Chuang
Non-Executive Independent Director1.42yrsno data0.0042%
SGD 13.0k

18.3yrs

Average Tenure

64yo

Average Age

Experienced Board: C41's board of directors are seasoned and experienced ( 18.3 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

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


Key Information

  • Name: Cortina Holdings Limited
  • Ticker: C41
  • Exchange: SGX
  • Founded: 1972
  • Industry: Apparel Retail
  • Sector: Retail
  • Market Cap: S$306.320m
  • Shares outstanding: 165.58m
  • Website: https://www.cortina.com.sg

Number of Employees


Location

  • Cortina Holdings Limited
  • No. 18-01 Ngee Ann City Tower B
  • 391B Orchard Road
  • Singapore
  • 238874
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
C41SGX (Singapore Exchange)YesOrdinary SharesSGSGDJul 2002

Biography

Cortina Holdings Limited, an investment holding company, retails and distributes timepieces and accessories in Singapore, Malaysia, Thailand, Indonesia, Hong Kong, Taiwan, and Russia. The company operates ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/20 12:35
End of Day Share Price2020/10/19 00:00
Earnings2020/03/31
Annual Earnings2020/03/31


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.