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Phoenix New Media

NYSE:FENG
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FENG
NYSE
$205M
Market Cap
  1. Home
  2. US
  3. Media
Company description

Phoenix New Media Limited provides content on an integrated Internet platform in the People’s Republic of China. The last earnings update was 70 days ago. More info.


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  • Phoenix New Media has significant price volatility in the past 3 months.
FENG Share Price and Events
7 Day Returns
-4.1%
NYSE:FENG
-2.4%
US Interactive Media and Services
-1.2%
US Market
1 Year Returns
-26.9%
NYSE:FENG
-9.7%
US Interactive Media and Services
3.3%
US Market
FENG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Phoenix New Media (FENG) -4.1% -21.7% -36.6% -26.9% -24.4% -72.7%
US Interactive Media and Services -2.4% 1.4% -5% -9.7% 51.8% 83.2%
US Market -1.2% 0.8% 0.9% 3.3% 35.9% 41.7%
1 Year Return vs Industry and Market
  • FENG underperformed the Interactive Media and Services industry which returned -9.7% over the past year.
  • FENG underperformed the Market in United States of America which returned 3.3% over the past year.
Price Volatility
FENG
Industry
5yr Volatility vs Market
Related Companies

FENG Value

 Is Phoenix New Media 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 Phoenix New Media 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 Phoenix New Media.

NYSE:FENG 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 9.4%
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:FENG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Interactive Media and Services Unlevered Beta Simply Wall St/ S&P Global 0.99
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.99 (1 + (1- 25%) (23.88%))
1.112
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)
= 2.73% + (1.112 * 5.96%)
9.36%

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

The calculations below outline how an intrinsic value for Phoenix New Media 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.

NYSE:FENG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 9.36%)
2020 27.00 Analyst x1 24.69
2021 24.12 Est @ -10.66% 20.17
2022 22.52 Est @ -6.64% 17.22
2023 21.66 Est @ -3.83% 15.14
2024 21.25 Est @ -1.86% 13.59
2025 21.15 Est @ -0.48% 12.36
2026 21.25 Est @ 0.48% 11.36
2027 21.50 Est @ 1.16% 10.51
2028 21.85 Est @ 1.63% 9.77
2029 22.28 Est @ 1.96% 9.10
Present value of next 10 years cash flows CN¥143.91
NYSE:FENG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥22.28 × (1 + 2.73%) ÷ (9.36% – 2.73%)
CN¥345.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥345.18 ÷ (1 + 9.36%)10
CN¥141.09
NYSE:FENG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥143.91 + CN¥141.09
CN¥284.99
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥284.99 / 72.78
CN¥3.92
NYSE:FENG Discount to Share Price
Calculation Result
Exchange Rate CNY/USD
(Reporting currency to currency of NYSE:FENG)
0.145
Value per Share
(USD)
= Value per Share in CNY x Exchange Rate (CNY/USD)
= CN¥3.92 x 0.145
$0.57
Value per share (USD) From above. $0.57
Current discount Discount to share price of $2.82
= -1 x ($2.82 - $0.57) / $0.57
-395.4%

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

  • The current share price of Phoenix New Media is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Phoenix New Media's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Phoenix New Media's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:FENG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CNY CN¥-1.72
NYSE:FENG Share Price ** NYSE (2019-07-19) in USD $2.82
NYSE:FENG Share Price converted to CNY reporting currency Exchange rate (USD/ CNY) 6.879 CN¥19.4
United States of America Interactive Media and Services Industry PE Ratio Median Figure of 26 Publicly-Listed Interactive Media and Services Companies 28.65x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.86x

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

** Primary Listing of Phoenix New Media.

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

= NYSE:FENG Share Price ÷ EPS (both in CNY)

= 19.4 ÷ -1.72

-11.25x

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

  • Phoenix New Media is loss making, we can't compare its value to the US Interactive Media and Services industry average.
  • Phoenix New Media is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Phoenix New Media's expected growth come at a high price?
Raw Data
NYSE:FENG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -11.25x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
127.7%per year
United States of America Interactive Media and Services Industry PEG Ratio Median Figure of 25 Publicly-Listed Interactive Media and Services Companies 1.37x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*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 Phoenix New Media, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Phoenix New Media's assets?
Raw Data
NYSE:FENG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CNY CN¥50.26
NYSE:FENG Share Price * NYSE (2019-07-19) in USD $2.82
NYSE:FENG Share Price converted to CNY reporting currency Exchange rate (USD/ CNY) 6.879 CN¥19.4
United States of America Interactive Media and Services Industry PB Ratio Median Figure of 56 Publicly-Listed Interactive Media and Services Companies 3.49x
United States of America Market PB Ratio Median Figure of 5,248 Publicly-Listed Companies 1.79x
NYSE:FENG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:FENG Share Price ÷ Book Value per Share (both in CNY)

= 19.4 ÷ 50.26

0.39x

* Primary Listing of Phoenix New Media.

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

  • Phoenix New Media is good value based on assets compared to the US Interactive Media and Services industry average.
X
Value checks
We assess Phoenix New Media'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 Interactive Media and 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 Interactive Media and Services industry average (and greater than 0)? (1 check)
  5. Phoenix New Media has a total score of 1/6, 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.

FENG Future Performance

 How is Phoenix New Media 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
127.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Phoenix New Media expected to grow at an attractive rate?
  • Phoenix New Media's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Phoenix New Media's earnings growth is expected to exceed the United States of America market average.
  • Phoenix New Media's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:FENG Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:FENG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 127.7%
NYSE:FENG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 13.2%
United States of America Interactive Media and Services Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
United States of America Interactive Media and Services Industry Revenue Growth Rate Market Cap Weighted Average 15.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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:FENG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:FENG Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,102 1
2020-12-31 1,727 108 55 2
2019-12-31 1,696 98 49 1
NYSE:FENG Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-03-31 1,377 -125
2018-12-31 1,377 -77 -63
2018-09-30 1,437 -13
2018-06-30 1,534 36
2018-03-31 1,566 12
2017-12-31 1,575 173 37
2017-09-30 1,525 65
2017-06-30 1,460 64
2017-03-31 1,416 37
2016-12-31 1,445 204 81
2016-09-30 1,464 82
2016-06-30 1,494 71

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Phoenix New Media's earnings are expected to grow significantly at over 20% yearly.
  • Phoenix New Media's revenue is expected to grow by 13.2% 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
NYSE:FENG 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 2 Analyst Estimates (S&P Global) See Below

All data from Phoenix New Media Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FENG Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.70 0.70 0.70 1.00
2019-12-31 0.65 0.65 0.65 1.00
NYSE:FENG Past Financials Data
Date (Data in CNY Millions) EPS *
2019-03-31 -1.72
2018-12-31 -0.87
2018-09-30 -0.18
2018-06-30 0.50
2018-03-31 0.17
2017-12-31 0.52
2017-09-30 0.91
2017-06-30 0.90
2017-03-31 0.51
2016-12-31 1.12
2016-09-30 1.14
2016-06-30 1.00

*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.
  • Phoenix New Media is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Phoenix New Media'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.
Phoenix New Media has a total score of 4/6, 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.

FENG Past Performance

  How has Phoenix New Media 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 Phoenix New Media's growth in the last year to its industry (Interactive Media and 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.
  • Phoenix New Media does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Phoenix New Media's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Phoenix New Media's 1-year growth to the US Interactive Media and Services industry average as it is not currently profitable.
Earnings and Revenue History
Phoenix New Media'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 Phoenix New Media Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FENG Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,377.33 -125.42 703.94 215.75
2018-12-31 1,377.38 -63.22 700.13 204.72
2018-09-30 1,437.35 -13.10 706.99 199.40
2018-06-30 1,534.22 36.42 675.79 198.84
2018-03-31 1,565.54 12.11 678.79 196.11
2017-12-31 1,575.09 37.47 640.59 192.33
2017-09-30 1,525.19 65.43 553.28 182.52
2017-06-30 1,459.65 64.23 537.69 169.87
2017-03-31 1,416.45 36.82 503.86 166.15
2016-12-31 1,444.91 80.61 497.05 161.88
2016-09-30 1,463.79 81.90 520.09 164.15
2016-06-30 1,494.19 71.40 537.26 169.38
2016-03-31 1,567.04 96.41 524.07 169.70
2015-12-31 1,609.20 73.58 530.12 170.71
2015-09-30 1,616.49 79.43 529.77 171.58
2015-06-30 1,657.85 127.79 517.96 169.93
2015-03-31 1,645.81 189.72 485.81 160.59
2014-12-31 1,637.86 263.09 468.60 150.00
2014-09-30 1,599.90 299.05 441.32 134.55
2014-06-30 1,546.87 309.53 406.29 120.43
2014-03-31 1,500.25 302.51 400.76 113.85
2013-12-31 1,424.48 279.55 371.25 108.68
2013-09-30 1,326.56 224.55 351.09 102.72
2013-06-30 1,234.18 156.05 351.75 101.18
2013-03-31 1,153.31 113.63 326.83 96.93
2012-12-31 1,111.00 107.36 303.77 91.29
2012-09-30 1,089.26 115.14 281.09 85.78

*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.
  • It is difficult to establish if Phoenix New Media has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Phoenix New Media has efficiently used its assets last year compared to the US Interactive Media and Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Phoenix New Media improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Phoenix New Media'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 Interactive Media and 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.
Phoenix New Media 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.

FENG Health

 How is Phoenix New Media'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 Phoenix New Media's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Phoenix New Media is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Phoenix New Media's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Phoenix New Media'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 10x 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 Phoenix New Media Company Filings, last reported 3 months ago.

NYSE:FENG Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,839.23 242.41 1,490.05
2018-12-31 3,390.36 267.67 1,086.62
2018-09-30 2,645.84 268.29 1,104.51
2018-06-30 2,567.27 308.05 1,012.63
2018-03-31 2,458.65 296.63 855.25
2017-12-31 2,501.15 330.00 1,100.52
2017-09-30 2,470.74 357.95 912.50
2017-06-30 2,416.57 357.95 726.70
2017-03-31 2,142.87 494.61 805.93
2016-12-31 2,162.43 358.60 983.99
2016-09-30 1,834.77 300.69 863.12
2016-06-30 1,849.13 200.14 957.73
2016-03-31 1,824.94 130.39 966.35
2015-12-31 1,804.69 131.05 1,080.35
2015-09-30 1,727.43 128.38 1,005.60
2015-06-30 1,699.73 123.38 906.24
2015-03-31 1,653.42 0.00 1,237.45
2014-12-31 1,716.66 0.00 1,325.85
2014-09-30 1,726.87 0.00 1,363.83
2014-06-30 1,746.70 0.00 1,394.31
2014-03-31 1,657.48 0.00 1,393.59
2013-12-31 1,575.04 0.00 1,401.81
2013-09-30 1,480.14 0.00 1,253.96
2013-06-30 1,408.55 0.00 1,150.56
2013-03-31 1,397.22 0.00 1,192.98
2012-12-31 1,366.34 0.00 1,151.17
2012-09-30 1,373.60 0.00 1,117.06
  • Phoenix New Media's level of debt (6.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 6.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Phoenix New Media's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Phoenix New Media'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. Phoenix New Media 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.

FENG Dividends

 What is Phoenix New Media'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
0%
Current annual income from Phoenix New Media dividends. Estimated to be 0% next year.
If you bought $2,000 of Phoenix New Media shares you are expected to receive $0 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?
  • Unable to evaluate Phoenix New Media's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Phoenix New Media's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:FENG 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
Global Interactive Media and Services Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 0.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

NYSE:FENG Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

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

  • Unable to perform a dividend volatility check as Phoenix New Media has not reported any payouts.
  • Unable to verify if Phoenix New Media's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Phoenix New Media's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Phoenix New Media has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Phoenix New Media's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Phoenix New Media's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Phoenix New Media afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Phoenix New Media has a total score of 0/6, see the detailed checks below.


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

FENG Management

 What is the CEO of Phoenix New Media'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
Shuang Liu
AGE 50
TENURE AS CEO 11.7 years
CEO Bio

Mr. Shuang Liu has been the Chief Operating Officer of Phoenix Satellite Television Holdings Ltd. since February 18, 2014. Mr. Liu is responsible for strategizing, overseeing and allocating resources to implement this convergence strategy at Phoenix Satellite Television Holdings. He has been the Chief Executive Officer of Fenghuang On-line (Beijing) Information Technology Company Limited since 2006. He has been the Chief Executive Officer of Phoenix New Media Limited since November 2007. He joined Phoenix Satellite Television Company Limited in 2001 and served as its Vice President since 2003. Mr. Liu joined Phoenix TV in 2001 and has served in various managing positions, including Chief Director of Business Development and Vice President, in charge of investment, finance, investor relationships, legal affairs, public affairs and development of the finance channel. He worked at Simpson Thacher & Bartlett LLP, Milbank, Tweed, Hadley & McCloy LLP and Morrison & Foerster LLP from 1996 to 2001. He serves as the Chairman of the Board of Yidian Zixun at Phoenix New Media Limited. He has been the Chairman and Director of Beijing Yidian Wangju Technology Co., Ltd. since April 29, 2015. He serves as a Director of Fenghuang On-line (Beijing) Information Technology Co. Ltd. He has been a Director of Phoenix New Media Limited since November 2007. Mr. Liu received a JD degree from Duke University Law School and Bachelor's Degree from University of International Business & Economic.

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

Average tenure and age of the Phoenix New Media management team in years:

3.6
Average Tenure
50
Average Age
  • The tenure for the Phoenix New Media management team is about average.
Management Team

Shuang Liu

TITLE
CEO & Director
AGE
50
TENURE
11.7 yrs

Betty Ho

TITLE
CFO & Director
AGE
50
TENURE
5.8 yrs

Qing Liu

TITLE
Head of Investor Relations

Ming Zou

TITLE
VP & Chief Editor

Xiaoyan Chi

TITLE
Senior Vice President
AGE
40
TENURE
1.4 yrs

Chun Liu

TITLE
Senior Vice President
AGE
51
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Phoenix New Media board of directors in years:

8.2
Average Tenure
60
Average Age
  • The tenure for the Phoenix New Media board of directors is about average.
Board of Directors

Keung Chui

TITLE
Chairman of the Board of Directors
AGE
68
TENURE
11.7 yrs

Shuang Liu

TITLE
CEO & Director
AGE
50
TENURE
11.7 yrs

Betty Ho

TITLE
CFO & Director
AGE
50
TENURE
1.7 yrs

Jerry Zhang

TITLE
Independent Director
AGE
59
TENURE
8.2 yrs

Daguang He

TITLE
Director
AGE
62
TENURE
10.5 yrs

Ka Keung Yeung

TITLE
Director
AGE
60
TENURE
8.2 yrs

Carson Wen

TITLE
Independent Director
AGE
67
TENURE
8.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Phoenix New Media'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. Phoenix New Media 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.

FENG News

Simply Wall St News

Do Institutions Own Phoenix New Media Limited (NYSE:FENG) Shares?

Phoenix New Media is not a large company by global standards. … Check out our latest analysis for Phoenix New Media NYSE:FENG Ownership Summary, July 16th 2019 What Does The Institutional Ownership Tell Us About Phoenix New Media? … Insider Ownership Of Phoenix New Media The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Some Phoenix New Media (NYSE:FENG) Shareholders Have Copped A Big 55% Share Price Drop

While it may not be enough for some shareholders, we think it is good to see the Phoenix New Media Limited (NYSE:FENG) share price up 14% in a single quarter. … In that time the share price has delivered a rude shock to holders, who find themselves down 55% after a long stretch. … In the last half decade Phoenix New Media saw its share price fall as its EPS declined below zero.

Simply Wall St -

Do Institutions Own Phoenix New Media Limited (NYSE:FENG) Shares?

If you want to know who really controls Phoenix New Media Limited (NYSE:FENG), then you'll have to look at the makeup of its share registry. … Generally speaking, as a company grows, institutions will increase their ownership. … Phoenix New Media is a smaller company with a market capitalization of US$241m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Should You Be Tempted To Sell Phoenix New Media Limited (NYSE:FENG) At Its Current PE Ratio?

I am writing today to help inform people who are new to the stock market. … and want to learn about the link between company’s fundamentals and stock market performance. … While this might not seem positive, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions.

Simply Wall St -

Who Are The Major Shareholders In Phoenix New Media Limited (NYSE:FENG)?

Today, I will be analyzing Phoenix New Media Limited’s (NYSE:FENG) recent ownership structure, an important but not-so-popular subject among individual investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment.

Simply Wall St -

Will Phoenix New Media Limited (NYSE:FENG) Continue To Underperform Its Industry?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Phoenix New Media Limited (NYSE:FENG) generated a below-average return on equity of 0.37% in the past 12 months, while its industry returned 12.91%. … View our latest analysis for Phoenix New Media

Simply Wall St -

What Investors Should Know About Phoenix New Media Limited's (NYSE:FENG) Financial Strength

Investors are always looking for growth in small-cap stocks like Phoenix New Media Limited (NYSE:FENG), with a market cap of CN¥332.77m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Is Phoenix New Media Limited (NYSE:FENG) A Sell At Its Current PE Ratio?

and want to better understand how you can grow your money by investing in Phoenix New Media Limited (NYSE:FENG). … Phoenix New Media Limited (NYSE:FENG) trades with a trailing P/E of 174.5x, which is higher than the industry average of 32.2x. … While FENG might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

Is It Too Late To Buy Phoenix New Media Limited (NYSE:FENG)?

Phoenix New Media Limited (NYSE:FENG), a internet company based in China,. … Let’s take a look at Phoenix New Media’s outlook and value based on the most recent financial data to see if the opportunity still exists? … What does the future of Phoenix New Media look like

Simply Wall St -

What does Phoenix New Media Limited's (NYSE:FENG) Balance Sheet Tell Us About Its Future?

Moreover, FENG has produced cash from operations of CN¥172.98M in the last twelve months, resulting in an operating cash to total debt ratio of 52.42%, signalling that FENG’s debt is appropriately covered by operating cash. … FENG’s level of debt is appropriate relative to its total equity, at 13.19%. … Next Steps: FENG has demonstrated its ability to generate sufficient levels of cash flow, while its debt hovers at a safe level.

Simply Wall St -

FENG Company Info

Description

Phoenix New Media Limited provides content on an integrated Internet platform in the People’s Republic of China. The company operates in two segments, Net Advertising Services and Paid Services. It offers content and services through three channels, including PC channel, mobile channel, and telecom operators, as well as transmits content to TV viewers, primarily through Phoenix TV. The company, through its Website, ifeng.com, provides approximately 40 interest-based verticals, such as news, finance, fashion, entertainment, automobiles, live broadcasting, we-media, military affairs, sports, history, and PC digital reading; offers interactive services, including comments posting and user surveys; and operates play.ifeng.com, a third-party developed Web-based game platform and v.ifeng.com, a free online video on demand vertical. Its mobile channel consists of ifeng News, a news application that provides news feeds and other contents in the form of text, image, live broadcasting, and video; ifeng Video, a video application, which offers video news, live broadcasting, Phoenix TV programs content, etc.; i.ifeng.com mobile Internet Website; and Fanyue Novel and Tadu digital reading applications that provide fee-based Internet literatures. In addition, the company offers mobile newspaper, mobile video, and mobile game services, as well as wireless value-added services comprising SMS-based, music, IVR-based, MMS-based, and animation services. The company was incorporated in 2007 and is based in Beijing, the People’s Republic of China. Phoenix New Media Limited is a subsidiary of Phoenix Satellite Television (B.V.I) Holding Limited.

Details
Name: Phoenix New Media Limited
FENG
Exchange: NYSE
Founded: 2007
$205,243,108
72,781,244
Website: http://www.ifeng.com
Address: Phoenix New Media Limited
Sinolight Plaza,
Floor 16,
Beijing,
100102,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FENG SPONSORED ADS New York Stock Exchange US USD 12. May 2011
Number of employees
Current staff
Staff numbers
1,447
Phoenix New Media employees.
Industry
Interactive Media and Services
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 03:54
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/06/07
Last earnings filing: 2019/05/13
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.