Pico Far East Holdings Limited, an investment holding company, engages in the exhibition and event marketing services, visual branding experiences, museum, themed environment, interior and retail, conference and show management, and related businesses worldwide.
The last earnings update was 41 days ago.
Discounted Cash Flow Calculation for OTCPK:PCOF.F using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for
Pico Far East Holdings
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.
OTCPK:PCOF.F DCF 1st Stage: Next 10 year cash flow forecast
The current share price of
Pico Far East Holdings
is above its future cash flow value.
Often investors are willing to pay a
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
Pico Far East Holdings's
is considered below, and whether this is a fair price.
Price based on past earnings
Pico Far East Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
Pico Far East Holdings's earnings are expected to grow by 14.4% yearly, however this is not considered high growth (20% yearly).
Pico Far East Holdings's revenue is expected to grow by 9.9% 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.
Pico Far East Holdings's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
Pico Far East Holdings
has a total score of
2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
Pico Far East Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
Pico Far East Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
Pico Far East Holdings's cash and other short term assets cover its long term commitments.
This treemap shows a more detailed breakdown of
Pico Far East 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
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 24.9x debt.
Nearly all companies have debt. Debt in itself isn’t
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.
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.
Mr. Song Huat Chia, also known as Lawrence, serves as the Chief Executive Officer of Pico Far East Holdings Ltd. and has been its Chairman since 1994. Mr. Chia joined the Pico Far East Group in 1984. He has worked in the event industry for more than 30 years. He also serves as the Vice Chairman of the Singapore Chamber of Commerce (Hong Kong). Mr. Chia serves as Executive Director of Pico Far East Holdings Ltd. In 2006, he received the International Executive in Sport and Entertainment Award from the University of South Carolina in the US. He is a BS graduate of the University of Tennessee, having majored in Finance, and received the University of Tennessee Outstanding International Alumni Award in 2016.
Lawrence's compensation has been consistent with company performance over the past year.
Lawrence's remuneration is about average for companies of similar size in United States of America.
Chairman & CEO
Executive Director & President of South East Asia
Regional Managing Director of (North America
Regional Managing Director (Japan
Managing Director of World Image Group
Group Executive Vice President
MD of (Pico Group) and Executive Director of (Pico Shanghai Pico London & Pico Dubai)
Senior VP – Operations Management (China region) & Executive Director of Pico Beijing
Board of Directors Tenure
Average tenure and age of the
Pico Far East Holdings
board of directors in years:
The average tenure for the Pico Far East Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Pico Far East Holdings Limited, an investment holding company, engages in the exhibition and event marketing services, visual branding experiences, museum, themed environment, interior and retail, conference and show management, and related businesses worldwide. It also offers visual identity and content, and digital marketing and content solutions; brand management, design and consultancy, interior renovation, promotion, exhibition and event fabrication, electrical specialist, corporate, and image consultancy and project management services; and construction, interior designing, decoration, and turnkey services, as well as technology solutions for exhibitions, events, museums, and interior and themed environment. In addition, the company provides design, lifestyle, and business innovation communications agency services; designs, develops, operates, and manages exhibition and convention center; produces exhibition, event, and interior fit-out products; and organizes and manages exhibitions, conferences, trade fairs, convention conferences, seminars, and events. Further, it offers freight forwarding, exhibition logistics, and transportation services for exhibitors; media planning, procurement, and optimization services in social video; services to organizers; and exhibition booth fabrication, event planning, design consultancy, themed designing, brand marketing and creative agency, brand strategy, engagement marketing, and public relations services. Additionally, the company operates and maintains museums, historical sites, and buildings; manufactures and installs exhibition items; and offers innovative services and disruptive technologies, design and technology solutions for interactive experience, and management development programs and courses. It is also involved in the property holding business. Pico Far East Holdings Limited was founded in 1969 and is based in Tai Po, Hong Kong.
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