OTCPK:DSFG.Y

Stock Analysis Report

Dah Sing Financial Holdings

Executive Summary

Dah Sing Financial Holdings Limited, an investment holding company, provides banking, insurance, financial, and other related services in the People’s Republic of China.

Snowflake

Fundamentals

Undervalued with excellent balance sheet and pays a dividend.

Risks

  • Dah Sing Financial Holdings has significant price volatility in the past 3 months.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-2.3%

OTCPK:DSFG.Y

-2.6%

US Banks

-1.0%

US Market


1 Year Return

-34.6%

OTCPK:DSFG.Y

-14.2%

US Banks

-0.4%

US Market

DSFG.Y underperformed the Banks industry which returned -14.2% over the past year.

DSFG.Y underperformed the Market in United States of America which returned -0.4% over the past year.


Share holder returns

DSFG.YIndustryMarket
7 Day-2.3%-2.6%-1.0%
30 Day-16.2%-6.3%-3.3%
90 Day-21.6%-3.5%0.8%
1 Year-32.4%-34.6%-11.8%-14.2%1.9%-0.4%
3 Yearn/a42.2%32.4%39.4%30.4%
5 Yearn/a53.3%36.7%54.2%37.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Dah Sing Financial Holdings undervalued based on future cash flows and its price relative to the stock market?

36%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Dah Sing Financial Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).

Dah Sing Financial Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Dah Sing Financial Holdings is good value based on earnings compared to the US Banks industry average.

Dah Sing Financial Holdings is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Dah Sing Financial Holdings is good value based on expected growth next year.


Price Based on Value of Assets

Dah Sing Financial Holdings is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is Dah Sing Financial Holdings expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

10.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Dah Sing Financial Holdings's revenue is expected to grow by 4.6% yearly, however this is not considered high growth (20% yearly).

Dah Sing Financial Holdings's earnings are expected to grow by 10% yearly, however this is not considered high growth (20% yearly).

Dah Sing Financial Holdings's revenue growth is positive but not above the United States of America market average.

Dah Sing Financial Holdings's earnings growth is positive but not above the United States of America market average.

Dah Sing Financial Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Dah Sing Financial Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Dah Sing Financial Holdings performed over the past 5 years?

0.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Dah Sing Financial Holdings's year on year earnings growth rate has been positive over the past 5 years.

Dah Sing Financial Holdings's 1-year earnings growth exceeds its 5-year average (21.7% vs 0.3%)

Dah Sing Financial Holdings's earnings growth has not exceeded the US Banks industry average in the past year (21.7% vs 33.2%).


Return on Equity

Dah Sing Financial Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Dah Sing Financial Holdings used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Dah Sing Financial Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Dah Sing Financial Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Dah Sing Financial Holdings has an acceptable proportion of non-loan assets held.

Dah Sing Financial Holdings has a low allowance for bad loans.

Dah Sing Financial Holdings's liabilities are made up of primarily low risk sources of funding.

Dah Sing Financial Holdings's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at Dah Sing Financial Holdings are broadly funded by customer deposits.

Dah Sing Financial Holdings has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is Dah Sing Financial Holdings's current dividend yield, its reliability and sustainability?

6.23%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Dah Sing Financial Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

Dah Sing Financial Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.84%).

Whilst dividend payments have been stable, Dah Sing Financial Holdings has been paying a dividend for less than 10 years.

Dividend payments have increased, but Dah Sing Financial Holdings only paid a dividend in the past 9 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.9x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (3.8x coverage).


Next Steps

Management

What is the CEO of Dah Sing Financial Holdings's salary, the management and board of directors tenure and is there insider trading?

8.0yrs

Average management tenure


CEO

Derek Wong (67yo)

17.6yrs

Tenure

HK$12,111,000

Compensation

Mr. Hon-Hing Wong, also known as Derek, serves as Director of Banco Comercial de Macau SA since March 22, 2016. Mr. Wong serves as the Chief Executive and Managing Director of Dah Sing Banking Group Limite ...


CEO Compensation Analysis

Derek's remuneration is lower than average for companies of similar size in United States of America.

Derek's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

8.0yrs

Average Tenure

65.5yo

Average Age

The average tenure for the Dah Sing Financial Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

17.1yrs

Average Tenure

67yo

Average Age

The average tenure for the Dah Sing Financial Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Frederic Suet-Chiu (67yo)

    Head of Group Risk of the Banking Group

  • Derek Wong (67yo)

    MD, CEO & Executive Director

    • Tenure: 17.6yrs
    • Compensation: HK$12.11m
  • David Wong (78yo)

    Chairman of the Board

    • Compensation: HK$28.73m
  • Jimmy Poon (57yo)

    CEO & Director of Dah Sing Insurance Co (1976) Ltd

    • Tenure: 9.6yrs
  • John Chiu (69yo)

    Chief Executive of Banco Commercial de Macau S A & Executive Director of Dah Sing Bank

  • Gary Wang (58yo)

    Deputy Chief Executive

    • Tenure: 2.2yrs
    • Compensation: HK$23.51m
  • Lee Kook

    IR Officer

  • Harold Wong (49yo)

    Group General Manager

  • Doris Wong

    Company Secretary

    • Tenure: 6.4yrs
  • John Lam (64yo)

    Head of Retail Banking div


Board Members

  • Robert Sze (78yo)

    Independent Non-Executive Director

    • Tenure: 22.6yrs
    • Compensation: HK$850.00k
  • Eiichi Yoshikawa (63yo)

    Non-Executive Director

    • Tenure: 3.0yrs
    • Compensation: HK$300.00k
  • Frederic Suet-Chiu (67yo)

    Head of Group Risk of the Banking Group

  • Derek Wong (67yo)

    MD, CEO & Executive Director

    • Tenure: 26.6yrs
    • Compensation: HK$12.11m
  • David Wong (78yo)

    Chairman of the Board

    • Tenure: 32.6yrs
    • Compensation: HK$28.73m
  • Jimmy Poon (57yo)

    CEO & Director of Dah Sing Insurance Co (1976) Ltd

    • Tenure: 4.6yrs
  • John Chiu (69yo)

    Chief Executive of Banco Commercial de Macau S A & Executive Director of Dah Sing Bank

    • Tenure: 15.6yrs
  • Andrew Leung (68yo)

    Independent Non-Executive Director

    • Tenure: 1.7yrs
    • Compensation: HK$400.00k
  • Gary Wang (58yo)

    Deputy Chief Executive

    • Tenure: 18.6yrs
    • Compensation: HK$23.51m
  • John Lam (64yo)

    Head of Retail Banking div

Company Information

Dah Sing Financial Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Dah Sing Financial Holdings Limited
  • Ticker: DSFG.Y
  • Exchange: OTCPK
  • Founded: 1987
  • Industry: diversified banks
  • Sector: banks
  • Market Cap: HK$9.859b
  • Listing Market Cap: HK$1.257b
  • Shares outstanding: 319.58m
  • Website: Click here

Number of Employees


Location

  • Dah Sing Financial Holdings Limited
  • Everbright Centre
  • 36th Floor
  • Wan Chai
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DAHS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
440SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJan 1992
DSRDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
440SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJan 1992
440SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJan 1992
DSFG.YOTCPK (Pink Sheets LLC)ADRUSUSDAug 2003

Biography

Dah Sing Financial Holdings Limited, an investment holding company, provides banking, insurance, financial, and other related services in the People’s Republic of China. The company operates through Person ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/17 23:52
End of Day Share Price2019/08/16 00:00
Earnings2018/12/31
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.