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Country Garden Holdings

OTCPK:CTRY.F
Snowflake Description

Undervalued with reasonable growth potential and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CTRY.F
OTCPK
HK$242B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Country Garden Holdings Company Limited, an investment holding company, operates as a real estate enterprise in the People’s Republic of China and internationally. The last earnings update was 41 days ago. More info.


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CTRY.F Share Price and Events
7 Day Returns
-4.5%
OTCPK:CTRY.F
-0.9%
US Real Estate
-0.7%
US Market
1 Year Returns
-30.2%
OTCPK:CTRY.F
-15.7%
US Real Estate
3%
US Market
CTRY.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Country Garden Holdings (CTRY.F) -4.5% -11.4% 9.6% -30.2% 300% 270%
US Real Estate -0.9% -6.6% -8.6% -15.7% 22.9% 4.2%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • CTRY.F underperformed the Real Estate industry which returned -15.7% over the past year.
  • CTRY.F underperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
CTRY.F
Industry
5yr Volatility vs Market

Value

 Is Country Garden 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 Country Garden 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 Country Garden Holdings.

OTCPK:CTRY.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 24 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.3%
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 OTCPK:CTRY.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.11 (1 + (1- 25%) (154.47%))
1.936
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.936 * 5.96%)
14.27%

Discounted Cash Flow Calculation for OTCPK:CTRY.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Country Garden 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:CTRY.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 14.27%)
2019 54,608.36 Analyst x7 47,789.67
2020 104,686.00 Analyst x7 80,174.89
2021 145,708.00 Analyst x3 97,658.05
2022 180,343.37 Est @ 23.77% 105,779.06
2023 211,828.21 Est @ 17.46% 108,732.20
2024 239,450.17 Est @ 13.04% 107,563.38
2025 263,267.93 Est @ 9.95% 103,495.65
2026 283,754.91 Est @ 7.78% 97,620.81
2027 301,535.73 Est @ 6.27% 90,784.71
2028 317,231.81 Est @ 5.21% 83,584.46
Present value of next 10 years cash flows CN¥923,182.87
OTCPK:CTRY.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥317,231.81 × (1 + 2.73%) ÷ (14.27% – 2.73%)
CN¥2,824,480.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥2,824,480.57 ÷ (1 + 14.27%)10
CN¥744,196.09
OTCPK:CTRY.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥923,182.87 + CN¥744,196.09
CN¥1,667,378.96
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥1,667,378.96 / 21,367.03
CN¥596.86
OTCPK:CTRY.F Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2007)
1.135
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥78.04 x 1.135
HK$88.55
Non-primary Listing Adjustment Factor 1 share in OTCPK:CTRY.F represents 0.13074x of SEHK:2007
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13074x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 88.55 x 0.13074
$11.58
Value per share (USD) From above. $11.58
Current discount Discount to share price of $1.48
= -1 x ($1.48 - $11.58) / $11.58
87.2%

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

Current Discount
Amount off the current price Country Garden Holdings is available for.
Intrinsic value
>50%
Share price is $1.48 vs Future cash flow value of $11.58
Current Discount Checks
For Country Garden Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Country Garden Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Country Garden 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 Country Garden Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Country Garden Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:CTRY.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥1.61
SEHK:2007 Share Price ** SEHK (2019-05-16) in HKD HK$11.32
SEHK:2007 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥9.98
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.37x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

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

** Primary Listing of Country Garden Holdings.

OTCPK:CTRY.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2007 Share Price ÷ EPS (both in CNY)

= 9.98 ÷ 1.61

6.19x

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

  • Country Garden Holdings is good value based on earnings compared to the US Real Estate industry average.
  • Country Garden Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Country Garden Holdings's expected growth come at a high price?
Raw Data
OTCPK:CTRY.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 24 Analysts
16%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.44x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

OTCPK:CTRY.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.19x ÷ 16%

0.39x

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

  • Country Garden Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Country Garden Holdings's assets?
Raw Data
OTCPK:CTRY.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥5.68
SEHK:2007 Share Price * SEHK (2019-05-16) in HKD HK$11.32
SEHK:2007 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥9.98
United States of America Real Estate Industry PB Ratio Median Figure of 52 Publicly-Listed Real Estate Companies 1.44x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:CTRY.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2007 Share Price ÷ Book Value per Share (both in CNY)

= 9.98 ÷ 5.68

1.76x

* Primary Listing of Country Garden Holdings.

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

  • Country Garden Holdings is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Country Garden 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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Country Garden Holdings has a total score of 5/6, 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.

Future Performance

 How is Country Garden Holdings expected to perform in the next 1 to 3 years based on estimates from 24 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
16%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Country Garden Holdings expected to grow at an attractive rate?
  • Country Garden Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Country Garden Holdings's earnings growth is expected to exceed the United States of America market average.
  • Country Garden Holdings's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:CTRY.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:CTRY.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 24 Analysts 16%
OTCPK:CTRY.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 24 Analysts 17.8%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 6.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
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
OTCPK:CTRY.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 24 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:CTRY.F Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 653,086 57,133 56,657 18
2020-12-31 580,168 41,837 49,438 23
2019-12-31 478,529 92,739 42,327 24
OTCPK:CTRY.F Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 379,079 29,381 34,618
2018-09-30 330,068 20,104 33,060
2018-06-30 281,056 10,827 31,502
2018-03-31 253,978 17,455 28,783
2017-12-31 226,900 24,084 26,064
2017-09-30 200,181 46,727 19,846
2017-06-30 173,462 69,370 13,628
2017-03-31 163,275 55,316 12,573
2016-12-31 153,087 41,263 11,517
2016-09-30 138,172 9,678 10,627
2016-06-30 123,258 -21,907 9,736
2016-03-31 118,240 -19,748 9,506

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Country Garden Holdings's earnings are expected to grow by 16% yearly, however this is not considered high growth (20% yearly).
  • Country Garden Holdings's revenue is expected to grow by 17.8% 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
OTCPK:CTRY.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 24 Analyst Estimates (S&P Global) See Below

All data from Country Garden Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CTRY.F Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.59 3.16 2.15 16.00
2020-12-31 2.26 2.81 1.88 19.00
2019-12-31 1.94 2.24 1.66 20.00
OTCPK:CTRY.F Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 1.61
2018-09-30 1.55
2018-06-30 1.48
2018-03-31 1.35
2017-12-31 1.23
2017-09-30 0.93
2017-06-30 0.63
2017-03-31 0.57
2016-12-31 0.52
2016-09-30 0.48
2016-06-30 0.43
2016-03-31 0.43

*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.
  • Country Garden Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Country Garden 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.
Country Garden Holdings 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.

Past Performance

  How has Country Garden 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 Country Garden Holdings's growth in the last year to its industry (Real Estate).
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.
  • Country Garden Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Country Garden Holdings's 1-year earnings growth exceeds its 5-year average (32.8% vs 31.9%)
  • Country Garden Holdings's earnings growth has exceeded the US Real Estate industry average in the past year (32.8% vs -15.8%).
Earnings and Revenue History
Country Garden 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 Country Garden Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:CTRY.F Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 379,079.00 34,618.00 29,134.00 1,224.00
2018-09-30 330,067.50 33,060.00 24,580.50 1,085.00
2018-06-30 281,055.79 31,501.52 21,059.41 253.00
2018-03-31 253,977.79 28,782.52 19,681.41 126.50
2017-12-31 226,900.00 26,064.00 17,271.00 693.00
2017-09-30 200,181.24 19,846.12 16,547.70 385.50
2017-06-30 173,462.49 13,628.23 15,824.41 78.00
2017-03-31 163,274.73 12,572.52 14,089.20 39.00
2016-12-31 153,086.98 11,516.82 12,353.98
2016-09-30 138,172.27 10,626.52 10,575.38
2016-06-30 123,257.56 9,736.23 8,796.79
2016-03-31 118,240.10 9,506.36 8,357.75
2015-12-31 113,222.64 9,276.49 7,918.72
2015-09-30 103,387.90 9,506.14 7,535.95
2015-06-30 93,553.16 9,735.79 7,153.18
2015-03-31 89,050.98 9,982.48 7,334.69
2014-12-31 84,548.80 10,229.16 7,516.20
2014-09-30 79,319.88 9,925.14 7,378.76
2014-06-30 74,090.96 9,621.12 7,241.33
2014-03-31 68,407.84 9,067.61 6,789.21
2013-12-31 62,724.73 8,514.10 6,337.10
2013-09-30 63,209.41 9,418.47 5,653.83
2013-06-30 52,081.20 8,192.71 4,593.41
2013-03-31 46,986.09 7,522.68 4,173.87
2012-12-31 41,890.98 6,852.65 3,754.34
2012-09-30 39,030.69 6,797.45 3,298.66
2012-06-30 35,873.29 5,918.74 3,089.87

*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.
  • Whilst Country Garden Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Country Garden Holdings used its assets less efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Country Garden Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Country Garden 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 Real Estate 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.
Country Garden Holdings has a total score of 4/6, 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.

Health

 How is Country Garden 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 Country Garden Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Country Garden Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Country Garden Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Country Garden 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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.3x 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 Country Garden Holdings Company Filings, last reported 4 months ago.

OTCPK:CTRY.F Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 173,408.00 329,269.00 240,362.00
2018-09-30 173,408.00 329,269.00 240,362.00
2018-06-30 142,447.00 294,715.00 200,720.00
2018-03-31 142,447.00 294,715.00 200,720.00
2017-12-31 116,612.00 216,569.00 161,914.00
2017-09-30 116,612.00 216,569.00 161,914.00
2017-06-30 94,303.69 162,432.13 118,630.37
2017-03-31 94,303.69 162,432.13 118,630.37
2016-12-31 81,615.17 143,240.32 91,968.14
2016-09-30 81,615.17 143,240.32 91,968.14
2016-06-30 92,475.03 103,111.99 32,010.35
2016-03-31 92,475.03 103,111.99 32,010.35
2015-12-31 89,340.41 89,743.80 37,428.85
2015-09-30 89,340.41 89,743.80 37,428.85
2015-06-30 69,024.84 64,567.92 17,164.17
2015-03-31 69,024.84 64,567.92 17,164.17
2014-12-31 62,442.43 61,068.70 18,760.59
2014-09-30 62,442.43 61,068.70 18,760.59
2014-06-30 54,798.84 57,510.70 15,887.05
2014-03-31 54,798.84 57,510.70 15,887.05
2013-12-31 46,011.17 56,248.78 18,909.72
2013-09-30 46,011.17 56,248.78 18,909.72
2013-06-30 41,657.42 45,637.14 15,216.31
2013-03-31 41,657.42 45,637.14 15,216.31
2012-12-31 38,884.41 36,912.66 11,809.03
2012-09-30 35,853.24 33,891.42 8,853.28
2012-06-30 34,738.88 32,541.88 9,459.89
  • Country Garden Holdings's level of debt (189.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (122% vs 189.9% today).
  • Debt is not well covered by operating cash flow (8.9%, less than 20% of total debt).
  • Country Garden Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Country Garden 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. Country Garden 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.

Dividends

 What is Country Garden 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
4.9%
Current annual income from Country Garden Holdings dividends. Estimated to be 6.92% next year.
If you bought $2,000 of Country Garden Holdings shares you are expected to receive $98 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?
  • Country Garden Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Country Garden Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
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
OTCPK:CTRY.F 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 24 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
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 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:CTRY.F Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.79 18.00
2020-12-31 0.69 22.00
2019-12-31 0.60 22.00
OTCPK:CTRY.F Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-18 0.488 4.597
2018-04-13 0.499 5.203
2017-08-22 0.300 2.645
2017-05-18 0.171 2.124
2016-04-13 0.129 3.618
2015-09-04 0.130 5.239
2015-08-19 0.130 5.809
2015-04-13 0.148 5.338
2014-05-28 0.168 6.640
2013-05-09 0.139 4.131
2012-02-28 0.130 4.809
2011-04-28 0.096 3.789
2010-04-07 0.045 1.952
2010-03-30 0.045 1.817

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

  • Country Garden Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Country Garden Holdings only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Country Garden Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess Country Garden Holdings'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 Country Garden Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Country Garden Holdings has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Country Garden 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
Bin Mo
COMPENSATION CN¥68,845,000
AGE 51
CEO Bio

Mr. Bin Mo has been the President and Executive Director of Country Garden Holdings Company Limited since July 22, 2010 and serves as its Chief Executive Officer. Mr. Mo has been Non Executive Director of E-House (China) Enterprise Holdings Limited since March 16, 2018. He joined Country Garden Holdings Company Limited in July 22, 2010. Mr. Mo is primarily responsible for the management of daily operation and general administration of Country Garden Holdings together with its subsidiaries (the “Group”). Prior to joining the Group, he was employed by an internationally competitive construction and property group in the mainland, China Construction Fifth Engineering Division Corp., Ltd., in a number of senior positions since 1989, most recently as Director and General Manager. Mr. MO has over 28 years of extensive experience in property development, construction business, construction management, marketing, cost control and corporate management. Mr. Mo received his bachelor’s degree in industrial and civil architecture from Hengyang Institute of Technology (currently known as University of South China) in June 1989, and obtained a postgraduate degree in administrative management from Zhongnan University of Economics and Law in June 2001 and is a professor-grade senior engineer.

CEO Compensation
  • Bin's compensation has increased by more than 20% in the past year.
  • Bin's remuneration is about average for companies of similar size in United States of America.
Management Team

Kwok Keung Yeung

TITLE
Founder & Chairman
COMPENSATION
CN¥11M
AGE
63

Huiyan Yang

TITLE
Co-Chairman
COMPENSATION
CN¥15M
AGE
36

Bin Mo

TITLE
President
COMPENSATION
CN¥69M
AGE
51

Zhicheng Yang

TITLE
Regional President & Executive Director
COMPENSATION
CN¥35M
AGE
45

Jun Song

TITLE
Executive Director
COMPENSATION
CN¥54M
AGE
50

Baiyuan Su

TITLE
Executive Director
COMPENSATION
CN¥26M
AGE
52

Ziying Yang

TITLE
Executive Director
COMPENSATION
CN¥10M
AGE
30

Guokun Liang

TITLE
Executive Director
COMPENSATION
CN¥48M
AGE
59

Bijun Wu

TITLE
VP & CFO
AGE
44
TENURE
2.1 yrs

Ziling Ma

TITLE
Investor Relations Director
Board of Directors Tenure

Average tenure and age of the Country Garden Holdings board of directors in years:

8.4
Average Tenure
51.5
Average Age
  • The tenure for the Country Garden Holdings board of directors is about average.
Board of Directors

Kwok Keung Yeung

TITLE
Founder & Chairman
COMPENSATION
CN¥11M
AGE
63
TENURE
12.4 yrs

Huiyan Yang

TITLE
Co-Chairman
COMPENSATION
CN¥15M
AGE
36
TENURE
0.4 yrs

Bin Mo

TITLE
President
COMPENSATION
CN¥69M
AGE
51
TENURE
8.8 yrs

Zhicheng Yang

TITLE
Regional President & Executive Director
COMPENSATION
CN¥35M
AGE
45
TENURE
12.4 yrs

Jun Song

TITLE
Executive Director
COMPENSATION
CN¥54M
AGE
50
TENURE
6 yrs

Baiyuan Su

TITLE
Executive Director
COMPENSATION
CN¥26M
AGE
52
TENURE
5.4 yrs

Ziying Yang

TITLE
Executive Director
COMPENSATION
CN¥10M
AGE
30
TENURE
8 yrs

Guokun Liang

TITLE
Executive Director
COMPENSATION
CN¥48M
AGE
59
TENURE
6 yrs

Ronald Tong

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥330K
AGE
68
TENURE
12.4 yrs

Joseph Lai

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥330K
AGE
73
TENURE
12.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Country Garden Holdings insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
16. May 19 Buy Guokun Liang Individual 14. May 19 14. May 19 500,000 $1.47 $735,853
16. May 19 Buy Bin Mo Individual 10. May 19 10. May 19 364,000 $1.50 $547,052
16. May 19 Buy Guokun Liang Individual 15. May 19 15. May 19 500,000 $1.49 $742,964
14. May 19 Buy Bin Mo Individual 09. May 19 09. May 19 655,000 $1.51 $988,030
10. May 19 Buy Bin Mo Individual 08. May 19 08. May 19 1,460,000 $1.54 $2,248,482
08. May 19 Buy Bin Mo Individual 06. May 19 06. May 19 715,000 $1.54 $1,103,511
08. May 19 Buy Bin Mo Individual 07. May 19 07. May 19 1,000,000 $1.56 $1,557,658
18. Oct 18 Buy Huiyan Yang Individual 12. Oct 18 12. Oct 18 3,000,000 $1.07 $3,221,085
10. Sep 18 Buy Huiyan Yang Individual 05. Sep 18 05. Sep 18 1,500,000 $1.41 $2,116,748
06. Sep 18 Buy Huiyan Yang Individual 03. Sep 18 03. Sep 18 3,000,000 $1.45 $4,350,234
03. Sep 18 Buy Huiyan Yang Individual 29. Aug 18 29. Aug 18 3,000,000 $1.51 $4,526,463
23. Jul 18 Buy Guokun Liang Individual 18. Jul 18 18. Jul 18 185,000 $1.58 $293,162
24. Jul 18 Buy Guokun Liang Individual 20. Jul 18 20. Jul 18 150,000 $1.52 $228,549
24. Jul 18 Buy Huiyan Yang Individual 20. Jul 18 20. Jul 18 15,000,000 $1.59 $23,913,540
18. Jul 18 Buy Bin Mo Individual 13. Jul 18 13. Jul 18 330,000 $1.69 $556,666
17. Jul 18 Buy Huiyan Yang Individual 12. Jul 18 12. Jul 18 10,000,000 $1.68 $16,774,820
16. Jul 18 Buy Bin Mo Individual 11. Jul 18 11. Jul 18 1,303,000 $1.63 $2,123,761
16. Jul 18 Buy Huiyan Yang Individual 11. Jul 18 11. Jul 18 10,000,000 $1.63 $16,296,970
13. Jul 18 Buy Bin Mo Individual 10. Jul 18 10. Jul 18 850,000 $1.66 $1,408,612
13. Jul 18 Buy Huiyan Yang Individual 10. Jul 18 10. Jul 18 15,000,000 $1.68 $25,197,300
22. Jun 18 Buy Guokun Liang Individual 19. Jun 18 19. Jun 18 300,000 $1.98 $595,035
X
Management checks
We assess Country Garden 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. Country Garden 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.

News

Simply Wall St News

Company Info

Description

Country Garden Holdings Company Limited, an investment holding company, operates as a real estate enterprise in the People’s Republic of China and internationally. The company operates in five segments: Property Development, Construction, Property Investment, Property Management, and Hotel Operation. It develops residential projects, such as townhouses and condos; and car-parks and retail shops. The company also develops, operates, and manages hotels. In addition, it is researches and develops robot intelligence; develops electronic hardware and biomass energy; sells food; and provides agriculture and animal husbandry, construction, investment consulting, cultural activity planning, real estate consulting, and landscape design services. Country Garden Holdings Company Limited was founded in 1992 and is headquartered in Foshan, the People’s Republic of China.

Details
Name: Country Garden Holdings Company Limited
CTRY.F
Exchange: OTCPK
Founded: 1992
HK$30,813,022,285
21,367,034,436
Website: http://www.countrygarden.com.cn
Address: Country Garden Holdings Company Limited
Country Garden Centre,
No. 1 Country Garden Road,
Foshan,
Guangdong Province, 528312,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2007 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 20. Apr 2007
OTCPK CTRY.F Ordinary Shares Pink Sheets LLC US USD 20. Apr 2007
DB DZJ Ordinary Shares Deutsche Boerse AG DE EUR 20. Apr 2007
SHSC 2007 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 20. Apr 2007
SZSC 2007 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 20. Apr 2007
OTCPK CTRY.Y UNSPONSORD ADR Pink Sheets LLC US USD 01. May 2009
Number of employees
Current staff
Staff numbers
131,387
Country Garden Holdings employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:14
End of day share price update: 2019/05/16 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/04/09
Last earnings reported: 2018/12/31
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.