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China Distance Education Holdings

NYSE:DL
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DL
NYSE
$227M
Market Cap
  1. Home
  2. US
  3. Consumer Services
Company description

China Distance Education Holdings Limited provides online and offline education services, and sells related products in the People’s Republic of China. The last earnings update was 62 days ago. More info.


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DL Share Price and Events
7 Day Returns
-0.6%
NYSE:DL
3.3%
US Consumer Services
2.8%
US Market
1 Year Returns
-24.8%
NYSE:DL
-6%
US Consumer Services
-5.6%
US Market
DL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Distance Education Holdings (DL) -0.6% 0% -5.9% -24.8% -39.5% -63.5%
US Consumer Services 3.3% 11.1% 2.4% -6% 95.8% 109.8%
US Market 2.8% 9.6% -3.2% -5.6% 40.1% 41%
1 Year Return vs Industry and Market
  • DL underperformed the Consumer Services industry which returned -6% over the past year.
  • DL underperformed the Market in United States of America which returned -5.6% over the past year.
Price Volatility
DL
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Distance Education Holdings's competitors could be found in our database.

DL Value

 Is China Distance Education Holdings 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 China Distance Education Holdings 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 China Distance Education Holdings.

NYSE:DL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 NYSE:DL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Consumer Services Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.906 (1 + (1- 25%) (27.77%))
1.095
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.095 * 7.27%)
10.69%

Discounted Cash Flow Calculation for NYSE:DL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Distance Education Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:DL DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 21.73 24.64 27.94 31.69 35.94
Source Est @ 13.4% Est @ 13.4% Est @ 13.4% Est @ 13.4% Est @ 13.4%
Present Value
Discounted (@ 10.69%)
19.63 20.11 20.60 21.11 21.62
Present value of next 5 years cash flows $103.08
NYSE:DL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $35.94 × (1 + 2.73%) ÷ (10.69% – 2.73%)
$463.65
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $463.65 ÷ (1 + 10.69%)5
$279.00
NYSE:DL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $103.08 + $279.00
$382.07
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $382.07 / 33.32
$11.47
NYSE:DL Discount to Share Price
Calculation Result
Value per share (USD) From above. $11.47
Current discount Discount to share price of $6.81
= -1 x ($6.81 - $11.47) / $11.47
40.6%

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

Current Discount
Amount off the current price China Distance Education Holdings is available for.
Intrinsic value
41%
Share price is $6.81 vs Future cash flow value of $11.47
Current Discount Checks
For China Distance Education Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Distance Education Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Distance Education Holdings'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 China Distance Education Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Distance Education Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:DL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $0.35
NYSE:DL Share Price ** NYSE (2019-01-18) in USD $6.81
United States of America Consumer Services Industry PE Ratio Median Figure of 25 Publicly-Listed Consumer Services Companies 23.1x
United States of America Market PE Ratio Median Figure of 3,025 Publicly-Listed Companies 17.12x

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

** Primary Listing of China Distance Education Holdings.

NYSE:DL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:DL Share Price ÷ EPS (both in USD)

= 6.81 ÷ 0.35

19.38x

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

  • China Distance Education Holdings is good value based on earnings compared to the US Consumer Services industry average.
  • China Distance Education Holdings is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does China Distance Education Holdings's expected growth come at a high price?
Raw Data
NYSE:DL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.9%per year
United States of America Consumer Services Industry PEG Ratio Median Figure of 17 Publicly-Listed Consumer Services Companies 1.55x
United States of America Market PEG Ratio Median Figure of 2,108 Publicly-Listed Companies 1.28x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for China Distance Education Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Distance Education Holdings's assets?
Raw Data
NYSE:DL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $1.33
NYSE:DL Share Price * NYSE (2019-01-18) in USD $6.81
United States of America Consumer Services Industry PB Ratio Median Figure of 47 Publicly-Listed Consumer Services Companies 2.03x
United States of America Market PB Ratio Median Figure of 5,100 Publicly-Listed Companies 1.77x
NYSE:DL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:DL Share Price ÷ Book Value per Share (both in USD)

= 6.81 ÷ 1.33

5.12x

* Primary Listing of China Distance Education Holdings.

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

  • China Distance Education Holdings is overvalued based on assets compared to the US Consumer Services industry average.
X
Value checks
We assess China Distance Education Holdings'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 Consumer Services 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 Consumer Services industry average (and greater than 0)? (1 check)
  5. China Distance Education Holdings has a total score of 3/6, 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.

DL Future Performance

 How is China Distance Education Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover China Distance Education Holdings, future earnings growth has been estimated based on fundamentals.
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
9.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Distance Education Holdings expected to grow at an attractive rate?
  • China Distance Education Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • China Distance Education Holdings's earnings growth is positive but not above the United States of America market average.
  • Unable to compare China Distance Education Holdings's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:DL Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:DL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.9%
United States of America Consumer Services Industry Earnings Growth Rate Market Cap Weighted Average 29.5%
United States of America Consumer Services Industry Revenue Growth Rate Market Cap Weighted Average 12.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
NYSE:DL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:DL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
NYSE:DL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 167 12
2018-06-30 155 8
2018-03-31 143 6
2017-12-31 135 6
2017-09-30 131 38 15
2017-06-30 128 21
2017-03-31 123 26
2016-12-31 125 31
2016-09-30 118 39 26
2016-06-30 115 27
2016-03-31 113 25
2015-12-31 111 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Distance Education Holdings's earnings are expected to grow by 9.9% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if China Distance Education Holdings is high growth as no revenue estimate data is available.
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
NYSE:DL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from China Distance Education Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:DL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
NYSE:DL Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 0.35
2018-06-30 0.24
2018-03-31 0.17
2017-12-31 0.20
2017-09-30 0.45
2017-06-30 0.64
2017-03-31 0.78
2016-12-31 0.91
2016-09-30 0.77
2016-06-30 0.79
2016-03-31 0.72
2015-12-31 0.68

*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.
  • Unable to establish if China Distance Education Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess China Distance Education Holdings'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
China Distance Education Holdings has a total score of 1/6, 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.

DL Past Performance

  How has China Distance Education Holdings 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 China Distance Education Holdings's growth in the last year to its industry (Consumer Services).
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.
  • China Distance Education Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • China Distance Education Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • China Distance Education Holdings's 1-year earnings growth is negative, it can't be compared to the US Consumer Services industry average.
Earnings and Revenue History
China Distance Education Holdings'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 China Distance Education Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:DL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 166.67 11.63 65.97
2018-06-30 154.75 7.78 60.83
2018-03-31 142.77 5.58 57.81
2017-12-31 134.88 6.43 56.78
2017-09-30 130.99 14.89 54.38
2017-06-30 127.52 21.19 50.45
2017-03-31 122.87 25.68 47.57
2016-12-31 125.16 30.63 43.60
2016-09-30 117.55 26.18 41.30
2016-06-30 114.89 27.49 38.82
2016-03-31 112.89 25.33 38.58
2015-12-31 111.07 24.01 39.81
2015-09-30 108.18 24.49 37.40
2015-06-30 107.88 24.46 38.73
2015-03-31 104.07 24.48 35.90
2014-12-31 99.98 24.55 33.59
2014-09-30 97.20 23.39 33.09
2014-06-30 88.99 19.08 30.51
2014-03-31 82.30 16.02 29.38
2013-12-31 77.05 15.50 26.75
2013-09-30 71.36 13.55 25.48
2013-06-30 61.03 8.18 23.15
2013-03-31 55.86 7.09 21.39
2012-12-31 55.20 9.08 19.77
2012-09-30 52.10 7.97 19.59
2012-06-30 48.46 3.10 22.01
2012-03-31 47.48 3.09 21.67

*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.
  • China Distance Education Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Distance Education Holdings used its assets less efficiently than the US Consumer Services industry average last year based on Return on Assets.
  • China Distance Education Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China Distance Education Holdings'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 Consumer Services 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.
China Distance Education Holdings has a total score of 0/6, 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.

DL Health

 How is China Distance Education Holdings'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 China Distance Education Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Distance Education Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • China Distance Education Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China Distance Education Holdings'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2x 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 China Distance Education Holdings Company Filings, last reported 3 months ago.

NYSE:DL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 109.77 63.00 47.90
2018-06-30 63.43 63.47 38.33
2018-03-31 69.24 64.04 37.45
2017-12-31 67.06 55.46 64.60
2017-09-30 72.81 51.54 67.03
2017-06-30 63.29 29.96 73.21
2017-03-31 58.24 29.96 65.91
2016-12-31 45.87 29.96 72.66
2016-09-30 56.47 15.55 55.00
2016-06-30 48.63 15.60 56.32
2016-03-31 53.01 16.54 92.88
2015-12-31 52.12 16.31 119.92
2015-09-30 90.81 16.47 122.62
2015-06-30 82.23 16.73 109.71
2015-03-31 76.48 16.62 114.22
2014-12-31 74.17 16.51 129.32
2014-09-30 98.41 16.58 123.80
2014-06-30 83.66 16.31 116.12
2014-03-31 77.87 16.18 124.73
2013-12-31 69.12 0.00 64.88
2013-09-30 64.52 0.00 72.75
2013-06-30 54.65 0.00 65.92
2013-03-31 51.77 0.00 53.03
2012-12-31 50.83 0.00 46.18
2012-09-30 64.62 0.00 57.75
2012-06-30 61.26 0.00 55.46
2012-03-31 64.32 0.00 54.40
  • China Distance Education Holdings's level of debt (57.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 57.4% today).
  • Debt is well covered by operating cash flow (59.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 19.6x coverage).
X
Financial health checks
We assess China Distance Education Holdings'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. China Distance Education Holdings has a total score of 3/6, 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.

DL Dividends

 What is China Distance Education Holdings'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
6.61%
Current annual income from China Distance Education Holdings dividends.
If you bought $2,000 of China Distance Education Holdings shares you are expected to receive $132 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?
  • China Distance Education Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • China Distance Education Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
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
NYSE:DL 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 0 Analyst Estimates (S&P Global) See Below
United States of America Consumer Services Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1986 Stocks 2.6%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

NYSE:DL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
NYSE:DL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2017-11-28 0.450 5.562
2017-01-25 0.450 5.245
2016-11-29 0.450 4.070
2016-01-27 0.900 7.425
2015-11-11 0.900 6.469
2015-01-26 0.800 5.327
2014-11-18 0.800 4.822
2013-12-27 0.600 3.568
2013-11-20 0.600 3.295
2012-11-13 0.480 7.854

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

  • China Distance Education Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • China Distance Education Holdings has only been paying a dividend for 6 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of China Distance Education Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as China Distance Education Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess China Distance Education Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 China Distance Education Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Distance Education Holdings has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

DL Management

 What is the CEO of China Distance Education Holdings'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
Zhengdong Zhu
AGE 50
CEO Bio

Mr. Zhengdong Zhu serves as the Chief Executive Officer of China Distance Education Limited. Mr. Zhu co-founded China Distance Education Holdings Limited in 2000 and serves as its Chairman of the Board and Chief Executive Officer. He is responsible for the overall management operations and strategic direction at China Distance Education Holdings. Mr. Zhu co-founded Beijing Champion Hi-Tech Co., Ltd. and serves as its Chairman of the Board and Chief Executive Officer. He is a pioneer in distance learning through internet and has rich experience in the internet and telecommunication sector. He worked at the Beijing Huake Hi-Tech Co., Ltd., a communications products and computer facilities company, as an Engineer, Manager of Network Department and Vice General Manager In charge of Marketing and Sales from 1995 to 1998. From 1989 to 1995, Mr. Zhu worked as an Engineer in the area of electronic communications technology at the research department of North China Institute of Electro-Optics Technology. He received an award for being one of the ten most outstanding private education entrepreneurs in 2007 by ww.sohu.com. Mr. Zhu graduated from the Radio Engineering Department of the Southeast University, China with a Bachelor’s degree in Radio Engineering in 1989 and obtained a graduate certificate from the Management Science department in Sichuan University in China in 2001. Mr. Zhu received his EMBA degree from Tsinghua University in 2011.

CEO Compensation
  • Insufficient data for Zhengdong to compare compensation growth.
  • Insufficient data for Zhengdong to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team

Zhengdong Zhu

TITLE
Co-Founder
AGE
50

Baohong Yin

TITLE
Co-Founder & Deputy Chairman
AGE
50

Mark Marostica

TITLE
Co-Chief Financial Officer
AGE
56

Philip Chan

TITLE
Co-Chief Financial Officer
AGE
47

Feijia Ji

TITLE
Senior EVP & Director
AGE
44

Liang Zheng

TITLE
Senior Vice President
Board of Directors

Zhengdong Zhu

TITLE
Co-Founder
AGE
50

Baohong Yin

TITLE
Co-Founder & Deputy Chairman
AGE
50

Feijia Ji

TITLE
Senior EVP & Director
AGE
44

Carol Yu

TITLE
Independent Director
AGE
56

Liankui Hu

TITLE
Independent Director
AGE
67

Xiaoshu Chen

TITLE
Independent Director
AGE
55

Annabelle Long

TITLE
Independent Director
AGE
45
TENURE
10.2 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 ($) Value ($)
27. Dec 18 Buy Champion Shine Trading Ltd Company 08. Nov 18 26. Dec 18 130,431 $7.90 $1,030,209
22. Aug 18 Buy Champion Shine Trading Ltd Company 25. Jun 18 21. Aug 18 82,920 $8.51 $705,541
25. Jun 18 Buy Champion Shine Trading Ltd Company 20. Jun 18 22. Jun 18 12,776 $7.27 $92,822
09. Nov 18 Buy Champion Shine Trading Ltd Company 22. Aug 18 07. Nov 18 260,603 $9.67 $2,520,135
X
Management checks
We assess China Distance Education Holdings'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. China Distance Education Holdings 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.

DL News

External News
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Simply Wall St News

What Kind Of Shareholder Owns Most China Distance Education Holdings Limited (NYSE:DL) Stock?

Every investor in China Distance Education Holdings Limited (NYSE:DL) should be aware of the most powerful shareholder groups. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … China Distance Education Holdings is not a large company by global standards.

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Do You Like China Distance Education Holdings Limited (NYSE:DL) At This P/E Ratio?

We'll look at China Distance Education Holdings Limited's (NYSE:DL) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, China Distance Education Holdings's P/E ratio is 21.2. … View our latest analysis for China Distance Education Holdings?

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China Distance Education Holdings Limited (NYSE:DL) Has A ROE Of 12%

We'll use ROE to examine China Distance Education Holdings Limited (NYSE:DL), by way of a worked example. … Our data shows China Distance Education Holdings has a return on equity of 12% for the last year. … Check out our latest analysis for China Distance Education Holdings?

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Does China Distance Education Holdings Limited (NYSE:DL) Fall With The Market?

In finance, Beta is a measure of volatility. … Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

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Does China Distance Education Holdings Limited's (NYSE:DL) PE Ratio Warrant A Sell?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … China Distance Education Holdings Limited (NYSE:DL) is currently trading at a trailing P/E of 46.1x, which is higher than the industry average of 25x. … See our latest analysis for China Distance Education Holdings

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China Distance Education Holdings Limited (NYSE:DL): A Look At Return On Capital

and want a simplistic look at the return on China Distance Education Holdings Limited (NYSE:DL) stock. … Purchasing China Distance Education Holdings gives you an ownership stake in the company. … To understand China Distance Education Holdings’s capital returns we will look at a useful metric called return on capital employed.

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What You Must Know About China Distance Education Holdings Limited's (NYSE:DL) 9.34% ROE

and want a simplistic look at the return on China Distance Education Holdings Limited (NYSE:DL) stock. … China Distance Education Holdings Limited (NYSE:DL) delivered a less impressive 9.34% ROE over the past year, compared to the 12.94% return generated by its industry. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into DL's past performance

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Is China Distance Education Holdings Limited's (NYSE:DL) Balance Sheet Strong Enough To Weather A Storm?

While small-cap stocks, such as China Distance Education Holdings Limited (NYSE:DL) with its market cap of US$236.72m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

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How China Distance Education Holdings Limited (NYSE:DL) Can Impact Your Portfolio Volatility

Check out our latest analysis for China Distance Education Holdings An interpretation of DL's beta With a beta of 1.56, China Distance Education Holdings is a stock that tends to experience more gains than the market during a growth phase and also a bigger reduction in value compared to the market during a broad downturn. … Therefore, this is a type of risk which is associated with higher beta. … As a result, the company may be less volatile relative to broad market movements, compared to a company of similar size but higher proportion of fixed assets.

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What Should You Know About China Distance Education Holdings Limited's (NYSE:DL) Return On Capital?

Thus, to understand how your money can grow by investing in China Distance Education Holdings, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE). … View our latest analysis for China Distance Education Holdings ROCE: Explanation and Calculation You only have a finite amount of capital to invest, so there are only so many companies that you can add to your portfolio. … We'll look at China Distance Education Holdings’s returns by computing return on capital employed, which will tell us what the company can generate from the money spent in operations.

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DL Company Info

Map
Description

China Distance Education Holdings Limited provides online and offline education services, and sells related products in the People’s Republic of China. It operates through three segments: Online Education Services, Business Start-Up Training Services, and The Sale of Learning Simulation Software. The company offers online professional education services in accounting, healthcare, and engineering and construction industries; and other professional education courses, such as online test-preparation courses for the national judicial examination and self-taught learners pursuing higher education diplomas or degrees, test preparation courses for university students, accounting practical skills training courses, and online language courses. Its online courses feature pre-recorded audio-video lectures taught by experts; and other content, such as course outlines, exercise questions, mock exams, and frequently asked questions and answers. The company’s online lectures are supplemented by its proprietary Learning Management System, which tracks individual study progress, records course notes, and collects incorrectly answered questions. As of September 30, 2017, it operated 25 Websites, including its primary Website cdeledu.com. In addition, the company operates an Open Learning Platform, a proprietary education platform to share educational content and deliver live courses online; and sells proprietary books and reference materials. Further, it provides business start-up training courses to university students, job seekers, and individuals; offline accounting and healthcare professional training, courseware production, and online platform development services; and mobile accounting, engineering and construction, healthcare, and legal courses through an app on Android and Apple iOS tablets and smart phones, as well as sells learning simulation software to the college market. The company was founded in 2000 and is based in Beijing, the People’s Republic of China.

Details
Name: China Distance Education Holdings Limited
DL
Exchange: NYSE
Founded: 2000
$226,901,572
33,318,880
Website: http://www.cdeledu.com
Address: China Distance Education Holdings Limited
Xueyuan International Tower,
18th Floor,
Beijing,
100083,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE DL SPONS ADR New York Stock Exchange US USD 30. Jul 2008
DB 0CDA SPONS ADR Deutsche Boerse AG DE EUR 30. Jul 2008
Number of employees
Current staff
Staff numbers
2,178
China Distance Education Holdings employees.
Industry
Education Services
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/21 00:11
End of day share price update: 2019/01/18 00:00
Last estimates confirmation: 2017/11/05
Last earnings filing: 2018/11/20
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/09/30


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.