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SIIC Environment Holdings

Executive Summary

SIIC Environment Holdings Ltd., an investment holding company, engages in wastewater treatment, water supply, solid waste management, and other environment-related businesses primarily in the People's Republic of China. More Details


Snowflake Analysis

Very undervalued average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-2.2%

BHK

-1.0%

SG Water Utilities

-1.4%

SG Market


1 Year Return

-23.0%

BHK

-11.0%

SG Water Utilities

-21.4%

SG Market

Return vs Industry: BHK underperformed the SG Water Utilities industry which returned -11% over the past year.

Return vs Market: BHK underperformed the SG Market which returned -21.4% over the past year.


Shareholder returns

BHKIndustryMarket
7 Day-2.2%-1.0%-1.4%
30 Day-8.3%-2.3%0.5%
90 Day-13.7%-5.5%-2.4%
1 Year-19.4%-23.0%-7.7%-11.0%-17.1%-21.4%
3 Year-62.0%-66.0%-18.5%-25.3%-19.5%-29.3%
5 Year-77.0%-79.8%-26.9%-35.8%-6.1%-23.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

28.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BHK (SGD0.18) is trading below our estimate of fair value (SGD0.25)

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


Price To Earnings Ratio

PE vs Industry: BHK is good value based on its PE Ratio (3.9x) compared to the XA Water Utilities industry average (13.7x).

PE vs Market: BHK is good value based on its PE Ratio (3.9x) compared to the SG market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: BHK is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: BHK is good value based on its PB Ratio (0.3x) compared to the XA Water Utilities industry average (1.2x).


Next Steps

Future Growth

How is SIIC Environment Holdings forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

11.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BHK's forecast earnings growth (11.2% per year) is above the savings rate (2.2%).

Earnings vs Market: BHK's earnings (11.2% per year) are forecast to grow slower than the SG market (21.2% per year).

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

Revenue vs Market: BHK's revenue (11% per year) is forecast to grow faster than the SG market (6.7% per year).

High Growth Revenue: BHK's revenue (11% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BHK's Return on Equity is forecast to be low in 3 years time (9%).


Next Steps

Past Performance

How has SIIC Environment Holdings performed over the past 5 years?

11.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BHK has high quality earnings.

Growing Profit Margin: BHK's current net profit margins (10.2%) are lower than last year (10.9%).


Past Earnings Growth Analysis

Earnings Trend: BHK's earnings have grown by 11.7% per year over the past 5 years.

Accelerating Growth: BHK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BHK had negative earnings growth (-0.7%) over the past year, making it difficult to compare to the Water Utilities industry average (1.5%).


Return on Equity

High ROE: BHK's Return on Equity (6.4%) is considered low.


Next Steps

Financial Health

How is SIIC Environment Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: BHK's short term assets (CN¥5.5B) do not cover its short term liabilities (CN¥9.3B).

Long Term Liabilities: BHK's short term assets (CN¥5.5B) do not cover its long term liabilities (CN¥11.2B).


Debt to Equity History and Analysis

Debt Level: BHK's debt to equity ratio (119.7%) is considered high.

Reducing Debt: BHK's debt to equity ratio has increased from 55.5% to 119.7% over the past 5 years.

Debt Coverage: BHK's debt is not well covered by operating cash flow (1%).

Interest Coverage: BHK's interest payments on its debt are not well covered by EBIT (2.1x coverage).


Balance Sheet


Next Steps

Dividend

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

5.65%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BHK's dividend (5.65%) is higher than the bottom 25% of dividend payers in the SG market (2.44%).

High Dividend: BHK's dividend (5.65%) is in the top 25% of dividend payers in the SG market (5.36%)


Stability and Growth of Payments

Stable Dividend: BHK has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BHK's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23.2%), BHK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BHK's dividends in 3 years are forecast to be well covered by earnings (21.6% payout ratio).


Next Steps

Management

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

3.0yrs

Average management tenure


CEO

Xiaobing Xu (52 yo)

1.92yrs

Tenure

CN¥252,000

Compensation

Mr. Xiaobing Xu has been Chief Executive Officer of SIIC Environment Holdings Ltd. since November 16, 2018. Mr. Xu has been Deputy Chief Executive Officer at Shanghai Industrial Holdings Limited since Nove ...


Leadership Team

NamePositionTenureCompensationOwnership
Xiaobing Xu
CEO & Executive Director1.92yrsCN¥252.00kno data
Hanguang Huang
GM & Executive Director1.42yrsCN¥375.00k0.096%
CN¥ 447.5k
Jun Feng
Executive Director10.83yrsCN¥252.00kno data
Youmin Zhao
Executive Director1.17yrsCN¥103.00kno data
Congliang Tang
Chief Financial Officer0.58yrno data0.0084%
CN¥ 39.4k
Anyuan Yang
Deputy General Manager of Legal & Compliance Management3yrsno datano data
Yongjian Piao
Vice Chairman & President of Longjiang Environment Protection Group Co.6.17yrsno datano data
Jianwei Yang
Executive Director0.42yrno datano data
Sey Liy Tan
Joint Company Secretary5.42yrsno datano data
Yun Wah Man
Joint Company Secretary3.08yrsno datano data
Jinshan Gao
Executiveno datano datano data
Buoguo Wang
Executiveno datano datano data

3.0yrs

Average Tenure

50.5yo

Average Age

Experienced Management: BHK's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Xiaobing Xu
CEO & Executive Director1.92yrsCN¥252.00kno data
Hanguang Huang
GM & Executive Director1.42yrsCN¥375.00k0.096%
CN¥ 447.5k
Jun Feng
Executive Director10.83yrsCN¥252.00kno data
Youmin Zhao
Executive Director1.17yrsCN¥103.00kno data
Jianwei Yang
Executive Director0.42yrno datano data
Jun Zhou
Non-Executive Chairman8.42yrsCN¥505.00kno data
Qiang Wu
Chairman of Fudan Water Engineering and Technology Co.no datano datano data
Guat Yeo
Lead Independent Non-Executive Directorno dataCN¥480.00kno data
Hongjun An
Independent Non-Executive Director2.58yrsCN¥430.00kno data
Ming Zhong
Independent Non-Executive Director2.58yrsCN¥404.00kno data

2.6yrs

Average Tenure

51yo

Average Age

Experienced Board: BHK's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


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

SIIC Environment Holdings Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SIIC Environment Holdings Ltd.
  • Ticker: BHK
  • Exchange: SGX
  • Founded: 2002
  • Industry: Water Utilities
  • Sector: Utilities
  • Market Cap: S$465.904m
  • Shares outstanding: 2.60b
  • Website: https://www.siicenv.com

Number of Employees


Location

  • SIIC Environment Holdings Ltd.
  • No. 37-02, Millenia Tower
  • One Temasek Avenue
  • Singapore
  • 39192
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BHKSGX (Singapore Exchange)YesOrdinary SharesSGSGDMar 2005
A9W1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 2005
807SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDMar 2005

Biography

SIIC Environment Holdings Ltd., an investment holding company, engages in wastewater treatment, water supply, solid waste management, and other environment-related businesses primarily in the People's Repu ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/21 12:39
End of Day Share Price2020/10/21 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.