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Hi-P International

SGX:H17
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
H17
SGX
SGD1B
Market Cap
  1. Home
  2. SG
  3. Tech
Company description

Hi-P International Limited operates as an integrated contract manufacturer serving the wireless telecommunications, consumer electronics, computing and peripherals, Internet of Things, medical devices, and industrial devices markets. The last earnings update was 18 days ago. More info.


Add to Portfolio Compare Print
  • Hi-P International has significant price volatility in the past 3 months.
H17 Share Price and Events
7 Day Returns
4.9%
SGX:H17
-3.9%
SG Electronic
-1.8%
SG Market
1 Year Returns
-9.2%
SGX:H17
-20.3%
SG Electronic
-8.4%
SG Market
H17 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hi-P International (H17) 4.9% -12.3% 29.9% -9.2% 212.2% 132.7%
SG Electronic -3.9% -14.8% -0.4% -20.3% 62.6% 35.6%
SG Market -1.8% -3.8% -1.8% -8.4% 10.2% -7.1%
1 Year Return vs Industry and Market
  • H17 outperformed the Electronic industry which returned -20.3% over the past year.
Price Volatility
H17
Industry
5yr Volatility vs Market

H17 Value

 Is Hi-P International 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 Hi-P International 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 Hi-P International.

SGX:H17 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
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:H17
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.046 (1 + (1- 17%) (14.07%))
1.113
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (1.113 * 5.96%)
8.93%

Discounted Cash Flow Calculation for SGX:H17 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hi-P International 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:H17 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 8.93%)
2019 52.60 Analyst x1 48.29
2020 36.80 Analyst x1 31.01
2021 163.60 Analyst x1 126.56
2022 181.09 Est @ 10.69% 128.60
2023 195.90 Est @ 8.18% 127.71
2024 208.46 Est @ 6.41% 124.75
2025 219.26 Est @ 5.18% 120.46
2026 228.73 Est @ 4.32% 115.35
2027 237.22 Est @ 3.71% 109.82
2028 245.03 Est @ 3.29% 104.13
Present value of next 10 years cash flows SGD1,036.69
SGX:H17 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD245.03 × (1 + 2.3%) ÷ (8.93% – 2.3%)
SGD3,780.42
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD3,780.42 ÷ (1 + 8.93%)10
SGD1,606.63
SGX:H17 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD1,036.69 + SGD1,606.63
SGD2,643.32
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD2,643.32 / 801.24
SGD3.3
SGX:H17 Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD3.30
Current discount Discount to share price of SGD1.28
= -1 x (SGD1.28 - SGD3.30) / SGD3.30
61.2%

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

Current Discount
Amount off the current price Hi-P International is available for.
Intrinsic value
>50%
Share price is SGD1.28 vs Future cash flow value of SGD3.3
Current Discount Checks
For Hi-P International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hi-P International's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Hi-P International'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 Hi-P International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hi-P International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:H17 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD0.13
SGX:H17 Share Price ** SGX (2019-05-17) in SGD SGD1.28
Singapore Electronic Industry PE Ratio Median Figure of 21 Publicly-Listed Electronic Companies 11.89x
Singapore Market PE Ratio Median Figure of 322 Publicly-Listed Companies 12.52x

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

** Primary Listing of Hi-P International.

SGX:H17 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:H17 Share Price ÷ EPS (both in SGD)

= 1.28 ÷ 0.13

10.13x

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

  • Hi-P International is good value based on earnings compared to the SG Electronic industry average.
  • Hi-P International is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does Hi-P International's expected growth come at a high price?
Raw Data
SGX:H17 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
1.8%per year
Singapore Electronic Industry PEG Ratio Median Figure of 5 Publicly-Listed Electronic Companies 2.31x
Singapore Market PEG Ratio Median Figure of 120 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

SGX:H17 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.13x ÷ 1.8%

5.73x

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

  • Hi-P International is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Hi-P International's assets?
Raw Data
SGX:H17 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD0.73
SGX:H17 Share Price * SGX (2019-05-17) in SGD SGD1.28
Singapore Electronic Industry PB Ratio Median Figure of 22 Publicly-Listed Electronic Companies 0.86x
Singapore Market PB Ratio Median Figure of 432 Publicly-Listed Companies 0.72x
SGX:H17 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:H17 Share Price ÷ Book Value per Share (both in SGD)

= 1.28 ÷ 0.73

1.76x

* Primary Listing of Hi-P International.

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

  • Hi-P International is overvalued based on assets compared to the SG Electronic industry average.
X
Value checks
We assess Hi-P International'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Hi-P International has a total score of 4/6, 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.

H17 Future Performance

 How is Hi-P International expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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
1.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hi-P International expected to grow at an attractive rate?
  • Hi-P International's earnings growth is positive but not above the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Hi-P International's earnings growth is positive but not above the Singapore market average.
  • Hi-P International's revenue growth is positive but not above the Singapore market average.
Annual Growth Rates Comparison
Raw Data
SGX:H17 Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:H17 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 1.8%
SGX:H17 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 3.7%
Singapore Electronic Industry Earnings Growth Rate Market Cap Weighted Average 5.4%
Singapore Electronic Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
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:H17 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:H17 Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,573 214 107 1
2020-12-31 1,505 122 95 2
2019-12-31 1,468 151 95 2
SGX:H17 Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,408 167 102
2018-12-31 1,402 167 101
2018-09-30 1,452 158 116
2018-06-30 1,486 158 120
2018-03-31 1,464 224 123
2017-12-31 1,427 260 121
2017-09-30 1,292 309 90
2017-06-30 1,268 317 83
2017-03-31 1,274 279 75
2016-12-31 1,305 268 55
2016-09-30 1,322 260 -22
2016-06-30 1,329 167 -28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hi-P International's earnings are expected to grow by 1.8% yearly, however this is not considered high growth (20% yearly).
  • Hi-P International's revenue is expected to grow by 3.7% 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:H17 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Hi-P International Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:H17 Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.13 0.13 0.13 1.00
2020-12-31 0.12 0.12 0.12 2.00
2019-12-31 0.12 0.12 0.12 2.00
SGX:H17 Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 0.13
2018-12-31 0.13
2018-09-30 0.14
2018-06-30 0.15
2018-03-31 0.15
2017-12-31 0.15
2017-09-30 0.11
2017-06-30 0.10
2017-03-31 0.09
2016-12-31 0.07
2016-09-30 -0.03
2016-06-30 -0.03

*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.
  • Hi-P International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Hi-P International'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.
Hi-P International has a total score of 0/6, 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.

H17 Past Performance

  How has Hi-P International 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 Hi-P International's growth in the last year to its industry (Electronic).
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.
  • Hi-P International has delivered over 20% year on year earnings growth in the past 5 years.
  • Hi-P International's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Hi-P International's 1-year earnings growth is negative, it can't be compared to the SG Electronic industry average.
Earnings and Revenue History
Hi-P International'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 Hi-P International Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:H17 Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,407.80 101.52 86.65
2018-12-31 1,402.12 100.95 83.82
2018-09-30 1,452.04 115.80 82.23
2018-06-30 1,486.26 120.37 79.46
2018-03-31 1,463.77 123.18 77.32
2017-12-31 1,426.87 121.49 79.67
2017-09-30 1,291.83 90.41 87.76
2017-06-30 1,267.83 82.75 89.00
2017-03-31 1,273.68 75.30 89.59
2016-12-31 1,305.07 54.53 90.05
2016-09-30 1,322.23 -21.99 86.67
2016-06-30 1,329.07 -28.39 92.12
2016-03-31 1,358.39 -44.00 95.43
2015-12-31 1,362.58 -45.43 96.55
2015-09-30 1,303.07 17.55 85.71
2015-06-30 1,154.63 3.99 77.30
2015-03-31 1,052.24 8.94 73.61
2014-12-31 951.40 10.46 71.01
2014-09-30 981.51 -19.04 76.88
2014-06-30 1,101.01 -26.67 82.23
2014-03-31 1,173.76 -12.76 87.15
2013-12-31 1,262.47 6.40 90.42
2013-09-30 1,282.89 36.46 92.25
2013-06-30 1,189.31 36.31 90.87
2013-03-31 1,156.02 23.30 88.21
2012-12-31 1,166.74 17.95 85.83
2012-09-30 1,223.91 11.83 84.24
2012-06-30 1,260.82 15.32 81.13

*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.
  • Hi-P International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Hi-P International used its assets more efficiently than the SG Electronic industry average last year based on Return on Assets.
  • Hi-P International has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Hi-P International'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 Electronic 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.
Hi-P International has a total score of 3/6, 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.

H17 Health

 How is Hi-P International'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 Hi-P International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hi-P International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hi-P International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hi-P International'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 covered by short term assets, assets are 4.9x 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 Hi-P International Company Filings, last reported 1 month ago.

SGX:H17 Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 583.17 144.34 276.15
2018-12-31 564.01 169.13 286.65
2018-09-30 529.33 173.98 234.52
2018-06-30 517.83 196.33 255.44
2018-03-31 551.71 236.68 368.41
2017-12-31 529.49 206.82 277.91
2017-09-30 482.82 261.40 294.13
2017-06-30 592.64 99.57 252.91
2017-03-31 580.16 67.97 179.97
2016-12-31 579.22 98.49 110.93
2016-09-30 548.71 171.67 82.00
2016-06-30 515.07 219.59 99.84
2016-03-31 522.89 253.19 127.02
2015-12-31 557.68 316.27 126.16
2015-09-30 623.25 352.71 86.22
2015-06-30 583.57 277.96 108.61
2015-03-31 610.38 213.27 143.31
2014-12-31 606.93 215.26 208.28
2014-09-30 585.54 108.31 173.96
2014-06-30 564.40 75.94 147.76
2014-03-31 575.18 77.73 164.25
2013-12-31 599.06 103.23 134.27
2013-09-30 605.28 149.28 107.46
2013-06-30 603.92 128.94 187.73
2013-03-31 594.62 136.74 203.79
2012-12-31 579.75 144.30 167.42
2012-09-30 559.93 131.08 213.46
2012-06-30 568.39 168.25 286.68
  • Hi-P International's level of debt (24.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (13.5% vs 24.8% today).
  • Debt is well covered by operating cash flow (115.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 75.9x coverage).
X
Financial health checks
We assess Hi-P International'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. Hi-P International has a total score of 5/6, 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.

H17 Dividends

 What is Hi-P International'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
3.91%
Current annual income from Hi-P International dividends. Estimated to be 2.87% next year.
If you bought SGD2,000 of Hi-P International shares you are expected to receive SGD78 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?
  • Hi-P International's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.57%).
  • Hi-P International's dividend is below the markets top 25% of dividend payers in Singapore (5.7%).
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:H17 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 2 Analyst Estimates (S&P Global) See Below
Singapore Electronic Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 4.6%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 276 Stocks 4%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.7%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.6%
Singapore Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SGX:H17 Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.03 1.00
2020-12-31 0.04 2.00
2019-12-31 0.04 2.00
SGX:H17 Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-04-08 0.050 3.564
2019-02-21 0.050 3.270
2018-11-07 0.050 5.399
2018-05-02 0.250 23.012
2017-11-06 0.210 10.443
2017-08-08 0.190 12.834
2017-04-10 0.008 0.922
2017-02-23 0.008 1.337
2016-11-08 0.008 1.592
2016-04-12 0.006 1.427
2015-11-05 0.006 1.391
2015-10-15 0.006 1.259
2015-04-09 0.010 2.065
2014-06-30 0.006 0.908
2013-04-12 0.012 1.868
2012-04-04 0.024 3.027
2011-04-06 0.036 4.697
2011-02-21 0.036 3.111
2010-04-12 0.030 3.690
2010-02-23 0.030 4.641

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

  • Hi-P International has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Hi-P International only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Hi-P International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Hi-P International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - 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 Hi-P International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hi-P International 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.

H17 Management

 What is the CEO of Hi-P International'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
Hsiao Yao
COMPENSATION SGD1,198,000
AGE 78
TENURE AS CEO 15.5 years
CEO Bio

Mr. Hsiao Tung Yao founded Hi-P International Limited and has been its Chief Executive Officer since November 05, 2003. Mr. Yao is responsible for formulating the strategic directions of Hi-P International Ltd. as well as overall management of its operations. He served as the Chief Executive Officer of Hi-P International Ltd., from November 5, 2003 to October 31, 2007 and also served its Managing Director of Consumer Electronics SBU from March 31, 2007 to April 24, 2007. He has more than 40 years of experience in the precision tooling and plastic injection molding industry. He served as a Technical Service Manager of Du Pont Singapore Electronics Pte Ltd. He serves as Executive Chairman of Hi-P International Limited and has been its Executive Director since May 21, 1983. He was conferred Honorary Doctorate by his Alma Mater, National Kaohsiung University of Applied Sciences, on 25 October 2009. Mr. Yao holds Diploma in Chemical Engineering from Taiwan Kaohsiung Technical College.

CEO Compensation
  • Hsiao's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Hsiao's remuneration is lower than average for companies of similar size in Singapore.
Management Team Tenure

Average tenure and age of the Hi-P International management team in years:

6.5
Average Tenure
70
Average Age
  • The average tenure for the Hi-P International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Hsiao Yao

TITLE
Founder
COMPENSATION
SGD1M
AGE
78
TENURE
15.5 yrs

Samuel Yuen

TITLE
Chief Financial Officer
COMPENSATION
SGD507K
AGE
58
TENURE
12.9 yrs

Huey Wong

TITLE
Chief Administrative Officer & Executive Director
COMPENSATION
SGD320K
AGE
69

Kam Choon Lee

TITLE
Vice President of Human Resources

Wan Mei Chan

TITLE
Company Secretary
TENURE
6 yrs

Tina Chan

TITLE
Company Secretary
TENURE
3.5 yrs

Hsiao Kuang Yao

TITLE
Director of Supply Chain Management
AGE
71
TENURE
6.5 yrs
Board of Directors Tenure

Average tenure and age of the Hi-P International board of directors in years:

14.8
Average Tenure
69
Average Age
  • The average tenure for the Hi-P International board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Hsiao Yao

TITLE
Founder
COMPENSATION
SGD1M
AGE
78

Huey Wong

TITLE
Chief Administrative Officer & Executive Director
COMPENSATION
SGD320K
AGE
69
TENURE
31.3 yrs

Jennifer Yeo Leong

TITLE
Independent Director
COMPENSATION
SGD68K
AGE
59
TENURE
12.5 yrs

Gerald Lim

TITLE
Lead Independent Director
COMPENSATION
SGD66K
AGE
60
TENURE
1 yrs

Chester Lin

TITLE
Independent Director
COMPENSATION
SGD58K
AGE
78
TENURE
14.8 yrs

Tiong Yeo

TITLE
Non-Executive Director
COMPENSATION
SGD97K
TENURE
32.1 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)
X
Management checks
We assess Hi-P International'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. Hi-P International 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.

H17 News

Simply Wall St News

Before You Buy Hi-P International Limited (SGX:H17), Consider Its Volatility

Anyone researching Hi-P International Limited (SGX:H17) might want to consider the historical volatility of the share price. … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … Given that it has a beta of 1.61, we can surmise that the Hi-P International share price has been fairly sensitive to market volatility (over the last 5 years).

Simply Wall St -

Hi-P International Limited (SGX:H17): Immense Growth Potential?

Help shape the future of investing tools and you could win a $250 gift card! … The latest earnings update Hi-P International Limited (SGX:H17) released in December 2018

Simply Wall St -

What Percentage Of Hi-P International Limited (SGX:H17) Shares Do Insiders Own?

A look at the shareholders of Hi-P International Limited (SGX:H17) can tell us which group is most powerful. … Hi-P International isn't enormous, but it's not particularly small either. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

What Should You Know About Hi-P International Limited's (SGX:H17) Future?

Based on Hi-P International Limited's (SGX:H17) earnings update in December 2018, … as a -5.8% fall in profits is expected in the upcoming year

Simply Wall St -

Should You Consider Hi-P International Limited (SGX:H17)?

Hi-P International Limited (SGX:H17) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … that has been able to sustain great financial health over the past

Simply Wall St -

Hi-P International Limited (SGX:H17) Delivered A Better ROE Than Its Industry

We'll use ROE to examine Hi-P International Limited (SGX:H17), by way of a worked example. … One way to conceptualize this, is that for each SGD1 of shareholders' equity it has, the company made SGD0.18 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should Hi-P International Limited (SGX:H17) Be Part Of Your Portfolio?

Historically, Hi-P International Limited (SGX:H17) has been paying a dividend to shareholders. … Let's dig deeper into whether Hi-P International should have a place in your portfolio. … View our latest analysis for Hi-P International

Simply Wall St -

Shareholders Are Thrilled That The Hi-P International Share Price Increased 239%

For instance the Hi-P International Limited (SGX:H17) share price is 239% higher than it was three years ago. … One flawed but reasonable way to assess how sentiment around a company has changed, is to compare the earnings per share (EPS) with the share price. … During three years of share price growth, Hi-P International moved from a loss to profitability.

Simply Wall St -

Why We Like Hi-P International Limited’s (SGX:H17) 26% Return On Capital Employed

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is Hi-P International Limited (SGX:H17) A Volatile Stock?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

H17 Company Info

Description

Hi-P International Limited operates as an integrated contract manufacturer serving the wireless telecommunications, consumer electronics, computing and peripherals, Internet of Things, medical devices, and industrial devices markets. It manufactures and sells molds and special tools, housing appliance plastic components and equipment, and water treatment equipment; plastic components and plastic product modules; mold base and components; electric components and electronic communication equipment; in-mold decoration lenses; precision stamped metal components and precision tools; and metal and non-metal stampings, as well as provides spray painting, engineering support, maintenance, and technology consultation services. In addition, the company engages in the research and development, manufacture, wholesale, import and export, and sale of electronic telecommunication devices, electrical appliances, automotive parts, housing appliances, automated equipment, and related components. Further, it manufactures and sells trays, mobile phones, telecommunication products, digital cameras and related electronic products, and electric toothbrushes; assembles coffee machines and parts, as well as provides related maintenance and after-sales services; and offers investment and management consulting services. Additionally, the company engages in the design, manufacture, and sale of robots and smart devices; manufacture, SMT, assembly, and trading of flexible printed circuit boards and flexible rigid printed circuit boards; and assembly and provision of ancillary value-added services, primarily surface finishing services, as well as provision of die design and fabrication services. It has operations primarily in the People's Republic of China, Singapore, the Philippines, Malaysia, Taiwan, Thailand, Europe, the United States, the rest of Americas, and internationally. The company was founded in 1980 and is headquartered in Singapore.

Details
Name: Hi-P International Limited
H17
Exchange: SGX
Founded: 1980
SGD1,025,592,647
801,244,256
Website: http://www.hi-p.com
Address: Hi-P International Limited
11 International Business Park,
Jurong East,
Singapore,
609926,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX H17 Ordinary Shares Singapore Exchange SG SGD 17. Dec 2003
DB H8S Ordinary Shares Deutsche Boerse AG DE EUR 17. Dec 2003
Number of employees
Current staff
Staff numbers
0
Hi-P International employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 12:43
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/05
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.