Loading...

Henderson Land Development

OTCPK:HLDC.Y
Snowflake Description

Established dividend payer with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HLDC.Y
OTCPK
HK$212B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Henderson Land Development Company Limited, an investment holding company, engages in the property development and investment activities in Hong Kong and Mainland China. The last earnings update was 28 days ago. More info.


Add to Portfolio Compare Print
HLDC.Y Share Price and Events
7 Day Returns
2.4%
OTCPK:HLDC.Y
-5.8%
US Real Estate
-3.9%
US Market
1 Year Returns
2.3%
OTCPK:HLDC.Y
-14.8%
US Real Estate
1.4%
US Market
HLDC.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Henderson Land Development (HLDC.Y) 2.4% -3.4% 5.9% 2.3% 43.3% 54.4%
US Real Estate -5.8% -8.3% -7.1% -14.8% 21.3% 4.4%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • HLDC.Y outperformed the Real Estate industry which returned -14.8% over the past year.
Price Volatility
HLDC.Y
Industry
5yr Volatility vs Market

Value

 Is Henderson Land Development 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 Henderson Land Development 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 Henderson Land Development.

OTCPK:HLDC.Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.5%
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:HLDC.Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.124 (1 + (1- 25%) (41.67%))
1.319
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.319 * 6.65%)
11.5%

Discounted Cash Flow Calculation for OTCPK:HLDC.Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Henderson Land Development 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:HLDC.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 11.5%)
2019 14,442.30 Analyst x1 12,952.91
2020 4,470.86 Analyst x2 3,596.28
2021 1,214.31 Est @ -72.84% 876.04
2022 605.11 Est @ -50.17% 391.52
2023 397.56 Est @ -34.3% 230.71
2024 305.37 Est @ -23.19% 158.93
2025 258.30 Est @ -15.41% 120.57
2026 232.54 Est @ -9.97% 97.35
2027 218.22 Est @ -6.16% 81.93
2028 210.59 Est @ -3.49% 70.92
Present value of next 10 years cash flows HK$18,577.17
OTCPK:HLDC.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$210.59 × (1 + 2.73%) ÷ (11.5% – 2.73%)
HK$2,467.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$2,467.28 ÷ (1 + 11.5%)10
HK$830.86
OTCPK:HLDC.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$18,577.17 + HK$830.86
HK$19,408.04
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$19,408.04 / 4,401.26
HK$4.41
OTCPK:HLDC.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:HLDC.Y represents 0.12536x of SEHK:12
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.12536x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 4.41 x 0.12536
$0.55
Value per share (USD) From above. $0.55
Current discount Discount to share price of $6.03
= -1 x ($6.03 - $0.55) / $0.55
-990.8%

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

  • The current share price of Henderson Land Development 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 Henderson Land Development's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Henderson Land Development's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:HLDC.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$7.08
SEHK:12 Share Price ** SEHK (2019-05-15) in HKD HK$48.1
United States of America Real Estate Industry PE Ratio Median Figure of 27 Publicly-Listed Real Estate Companies 16x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

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

** Primary Listing of Henderson Land Development.

OTCPK:HLDC.Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:12 Share Price ÷ EPS (both in HKD)

= 48.1 ÷ 7.08

6.79x

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

  • Henderson Land Development is good value based on earnings compared to the US Real Estate industry average.
  • Henderson Land Development is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Henderson Land Development's expected growth come at a high price?
Raw Data
OTCPK:HLDC.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
-28%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.34x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

OTCPK:HLDC.Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.79x ÷ -28%

-0.24x

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

  • Henderson Land Development earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Henderson Land Development's assets?
Raw Data
OTCPK:HLDC.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$71.15
SEHK:12 Share Price * SEHK (2019-05-15) in HKD HK$48.1
United States of America Real Estate Industry PB Ratio Median Figure of 53 Publicly-Listed Real Estate Companies 1.45x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
OTCPK:HLDC.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:12 Share Price ÷ Book Value per Share (both in HKD)

= 48.1 ÷ 71.15

0.68x

* Primary Listing of Henderson Land Development.

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

  • Henderson Land Development is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Henderson Land Development'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. Henderson Land Development 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.

Future Performance

 How is Henderson Land Development expected to perform in the next 1 to 3 years based on estimates from 12 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
-28%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Henderson Land Development expected to grow at an attractive rate?
  • Henderson Land Development's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Henderson Land Development's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Henderson Land Development's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:HLDC.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:HLDC.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts -28%
OTCPK:HLDC.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 11.3%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 6.3%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 7.1%
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 7.3%

*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:HLDC.Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:HLDC.Y Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 32,250 4,383 16,402 5
2020-12-31 29,136 8,967 15,304 11
2019-12-31 29,309 12,001 15,710 11
OTCPK:HLDC.Y Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 21,982 3,824 31,157
2018-09-30 25,102 -9,651 31,962
2018-06-30 24,714 -24,123 32,390
2018-03-31 24,584 -12,959 31,412
2017-12-31 27,960 -797 30,809
2017-09-30 26,653 4,210 27,863
2017-06-30 28,724 8,896 26,378
2017-03-31 27,146 7,613 24,147
2016-12-31 25,568 6,330 21,916
2016-09-30 23,958 21,004
2016-06-30 22,347 -3,446 20,091
2016-03-31 22,994 -2,112 20,709

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Henderson Land Development's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Henderson Land Development's revenue is expected to grow by 11.3% 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:HLDC.Y 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 12 Analyst Estimates (S&P Global) See Below

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

OTCPK:HLDC.Y Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.17 6.36 3.17 6.00
2020-12-31 3.47 4.55 2.70 10.00
2019-12-31 3.55 4.48 3.22 9.00
OTCPK:HLDC.Y Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 7.08
2018-09-30 7.26
2018-06-30 7.36
2018-03-31 7.14
2017-12-31 7.00
2017-09-30 6.33
2017-06-30 5.99
2017-03-31 5.49
2016-12-31 4.98
2016-09-30 4.77
2016-06-30 4.57
2016-03-31 4.71

*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.
  • Henderson Land Development is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Henderson Land Development'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.
Henderson Land Development 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.

Past Performance

  How has Henderson Land Development 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 Henderson Land Development'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.
  • Henderson Land Development's year on year earnings growth rate has been positive over the past 5 years.
  • Henderson Land Development's 1-year earnings growth is less than its 5-year average (1.1% vs 15.9%)
  • Henderson Land Development's earnings growth has exceeded the US Real Estate industry average in the past year (1.1% vs -15.8%).
Earnings and Revenue History
Henderson Land Development'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 Henderson Land Development Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:HLDC.Y Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 21,982.00 31,157.00 2,547.00
2018-09-30 25,101.50 31,961.50 2,656.00
2018-06-30 24,714.00 32,390.00 2,520.00
2018-03-31 24,583.50 31,411.50 2,783.00
2017-12-31 27,960.00 30,809.00 3,291.00
2017-09-30 26,652.50 27,863.00 3,362.50
2017-06-30 28,724.00 26,378.00 3,532.00
2017-03-31 27,146.00 24,147.00 3,323.50
2016-12-31 25,568.00 21,916.00 3,115.00
2016-09-30 23,957.50 21,003.50 3,157.50
2016-06-30 22,347.00 20,091.00 3,200.00
2016-03-31 22,994.00 20,708.50 3,289.00
2015-12-31 23,641.00 21,326.00 3,378.00
2015-09-30 24,731.00 19,232.00 3,345.00
2015-06-30 25,821.00 17,138.00 3,312.00
2015-03-31 24,596.00 16,945.00 3,267.00
2014-12-31 23,371.00 16,752.00 3,222.00
2014-09-30 23,322.00 17,201.50 3,267.00
2014-06-30 23,273.00 17,651.00 3,312.00
2014-03-31 23,281.00 16,799.50 3,249.00
2013-12-31 23,289.00 15,948.00 3,186.00
2013-09-30 20,145.00 18,086.50 3,001.00
2013-06-30 17,001.00 20,225.00 2,816.00
2013-03-31 16,296.50 20,213.00 2,775.00
2012-12-31 15,592.00 20,201.00 2,734.00
2012-09-30 13,666.00 18,150.50 2,619.50
2012-06-30 11,740.00 16,093.00 2,505.00

*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.
  • Henderson Land Development has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Henderson Land Development used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Henderson Land Development has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Henderson Land Development'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.
Henderson Land Development 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 Henderson Land Development'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 Henderson Land Development's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Henderson Land Development is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Henderson Land Development's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Henderson Land Development'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 1.5x 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 Henderson Land Development Company Filings, last reported 4 months ago.

OTCPK:HLDC.Y Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 317,992.00 88,220.00 16,697.00
2018-09-30 317,992.00 88,220.00 16,697.00
2018-06-30 307,295.00 89,134.00 17,656.00
2018-03-31 307,295.00 89,134.00 17,656.00
2017-12-31 297,943.00 81,376.00 24,673.00
2017-09-30 298,612.00 81,376.00 24,673.00
2017-06-30 281,114.00 79,667.00 25,366.00
2017-03-31 281,114.00 79,667.00 25,366.00
2016-12-31 269,301.00 57,624.00 22,966.00
2016-09-30 269,301.00 57,624.00 22,966.00
2016-06-30 260,108.00 56,509.00 17,663.00
2016-03-31 260,108.00 56,509.00 17,663.00
2015-12-31 256,269.00 53,872.00 11,779.00
2015-09-30 256,269.00 53,872.00 11,779.00
2015-06-30 250,986.00 44,697.00 10,022.00
2015-03-31 250,986.00 44,697.00 10,022.00
2014-12-31 243,217.00 49,196.00 10,303.00
2014-09-30 243,217.00 49,196.00 10,303.00
2014-06-30 235,494.00 46,240.00 13,297.00
2014-03-31 235,494.00 46,240.00 13,297.00
2013-12-31 228,000.00 53,257.00 13,953.00
2013-09-30 228,000.00 53,257.00 13,953.00
2013-06-30 217,486.00 46,900.00 13,658.00
2013-03-31 217,486.00 46,900.00 13,658.00
2012-12-31 209,852.00 50,161.00 12,538.00
2012-09-30 209,901.00 50,161.00 12,538.00
2012-06-30 195,441.00 50,401.00 11,806.00
  • Henderson Land Development's level of debt (27.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (23.3% vs 27.7% today).
  • Debt is not well covered by operating cash flow (4.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 22.4x coverage).
X
Financial health checks
We assess Henderson Land Development'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. Henderson Land Development has a total score of 4/6, 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 Henderson Land Development'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
3.74%
Current annual income from Henderson Land Development dividends. Estimated to be 4.01% next year.
If you bought $2,000 of Henderson Land Development shares you are expected to receive $75 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?
  • Henderson Land Development's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Henderson Land Development's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
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:HLDC.Y 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 12 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 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 1.5%
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.

OTCPK:HLDC.Y Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.06 7.00
2020-12-31 1.91 13.00
2019-12-31 1.87 11.00
OTCPK:HLDC.Y Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-18 1.800 3.730
2019-03-20 1.800 3.659
2018-08-23 1.730 4.258
2018-03-21 1.555 3.522
2017-08-22 1.373 2.928
2017-03-21 1.281 3.121
2016-08-23 1.231 3.376
2016-03-21 1.089 3.024
2015-08-20 0.857 2.479
2015-03-23 0.751 1.889
2014-09-18 0.738 2.052
2014-03-20 0.658 2.093
2013-08-22 0.658 2.371
2013-06-17 0.598 2.023
2013-04-25 0.598 1.928
2013-03-25 0.598 1.950
2012-06-11 0.565 1.962
2011-08-25 0.565 2.417
2011-03-17 0.565 2.017
2010-08-26 0.734 2.447
2010-03-30 0.734 2.690
2009-08-28 0.339 1.124

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Henderson Land Development's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Henderson Land Development'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 Henderson Land Development afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Henderson Land Development has a total score of 5/6, 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 Henderson Land Development'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
Shau-Kee Lee
COMPENSATION HK$22,463,000
AGE 90
TENURE AS CEO 43.3 years
CEO Bio

The Hon Shau-kee Lee, DBA(Hon), DSSc(Hon), LLD(Hon), GBM, has been the Chairman of Hong Kong and China Gas Company Limited in 1983. Dr. Lee is the Founder of Henderson Land Development Company Limited ("Henderson Land"). He has been the Chairman and Managing Director of Henderson Land since 1976. He is the Founder, and Executive Director of Henderson Investment Limited. He served as Chairman and Managing Director of Henderson Investment Limited since July 2015. He has been the Chairman of The Hong Kong and China Gas Company Limited since 1983. He serves as the Vice Chairman of Sun Hung Kai Properties Limited as well as a Non-Executive Director of Hong Kong Ferry (Holdings) Company Limited and Miramar Hotel and Investment Company, Limited. He is also the Honorary President of Shun Tak Fraternal Association and Vice-President of The Hong Kong Real Estate Developers Association. Throughout his career, Dr. Lee has earned a reputation for his ethics and people skills, as well as his ability to make wise investments. In 1996, Dr. Lee was ranked fourth in Forbes’ listing of the "World’s Richest Men". As one of Hong Kong’s leading businesspeople, Dr. Lee has made significant contributions to Hong Kong’s economic prosperity. He is also a respected philanthropist, who has been instrumental in the creation and success of many major educational and community initiatives in Hong Kong, mainland China and overseas. He has made generous contributions to higher education and training, including significant donations to all of the nine universities in Hong Kong. Through the Lee Shau Kee Foundation, Dr. Lee has also provided scholarships, building funds and other generous support to colleges and universities around the world. In 1982, Dr. Lee established the Hong Kong Pei Hua Education Foundation. Dr. Lee has received many accolades throughout his career including being bestowed with honorary doctorates in business administration, social sciences and law, as well as honorary fellowships by local and overseas universities. In 2008 alone, Dr. Lee received an honorary doctorate degree from Fudan University; was named an honorary Trustee and a strategic advisor to Tsinghua University; and was named an honorary Director of Peking University. In recognition of his lifelong devotion to education and his contribution to the community, the Hong Kong Special Administrative Region awarded Dr. Lee with its highest honor, the Grand Bauhinia Medal (GBM), in July 2007. Dr. Lee has been the Non-Executive Director of Hong Kong & China Gas Co. Ltd since 1978. He has been engaged in property development in Hong Kong for more than 60 years. Dr. Lee is also a Director of Henderson Development Limited (“Henderson Development”), Hopkins (Cayman) Limited (“Hopkins”), Rimmer (Cayman) Limited (“Rimmer”), Riddick (Cayman) Limited (“Riddick”), Timpani Investments Limited (“Timpani Investments”), Disralei Investment Limited (“Disralei Investment”), Medley Investment Limited (“Medley Investment”) and Macrostar Investment Limited (“Macrostar Investment”).

CEO Compensation
  • Shau-Kee's compensation has been consistent with company performance over the past year.
  • Shau-Kee's remuneration is lower than average for companies of similar size in United States of America.
Management Team

Shau-Kee Lee

TITLE
Founder
COMPENSATION
HK$22M
AGE
90
TENURE
43.3 yrs

Ka-Shing Lee

TITLE
Vice Chairman & Deputy General Manager
COMPENSATION
HK$17M
AGE
46

Colin Lam

TITLE
Vice Chairman & Deputy General Manager
COMPENSATION
HK$31M
AGE
67

Peter Lee

TITLE
Vice Chairman & Deputy GM
COMPENSATION
HK$20M
AGE
55

Kwok Lam Suen

TITLE
Executive Director
COMPENSATION
HK$15M
AGE
71

John Yip

TITLE
Executive Director & Assistant General Manager
COMPENSATION
HK$24M
AGE
69

Woon King Fung Lee

TITLE
Treasurer & Executive Director
COMPENSATION
HK$10M
AGE
79

Patrick Kwok

TITLE
Executive Director of Finance Department & Executive Director
COMPENSATION
HK$7M
AGE
65

Eddie Lau

TITLE
Executive Director of Finance Department & Executive Director
COMPENSATION
HK$144K
AGE
72

Augustine Wong

TITLE
Executive Director of Property Development Department & Executive Director
COMPENSATION
HK$25M
AGE
57
Board of Directors Tenure

Average tenure and age of the Henderson Land Development board of directors in years:

26.3
Average Tenure
68
Average Age
  • The average tenure for the Henderson Land Development board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Shau-Kee Lee

TITLE
Founder
COMPENSATION
HK$22M
AGE
90
TENURE
43.3 yrs

Ka-Shing Lee

TITLE
Vice Chairman & Deputy General Manager
COMPENSATION
HK$17M
AGE
46
TENURE
14.3 yrs

Colin Lam

TITLE
Vice Chairman & Deputy General Manager
COMPENSATION
HK$31M
AGE
67
TENURE
26.3 yrs

Peter Lee

TITLE
Vice Chairman & Deputy GM
COMPENSATION
HK$20M
AGE
55
TENURE
26.3 yrs

Kwok Lam Suen

TITLE
Executive Director
COMPENSATION
HK$15M
AGE
71
TENURE
17.3 yrs

John Yip

TITLE
Executive Director & Assistant General Manager
COMPENSATION
HK$24M
AGE
69
TENURE
22.3 yrs

Woon King Fung Lee

TITLE
Treasurer & Executive Director
COMPENSATION
HK$10M
AGE
79
TENURE
43.3 yrs

Patrick Kwok

TITLE
Executive Director of Finance Department & Executive Director
COMPENSATION
HK$7M
AGE
65
TENURE
26.3 yrs

Eddie Lau

TITLE
Executive Director of Finance Department & Executive Director
COMPENSATION
HK$144K
AGE
72
TENURE
32.3 yrs

Augustine Wong

TITLE
Executive Director of Property Development Department & Executive Director
COMPENSATION
HK$25M
AGE
57
TENURE
8.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Henderson Land Development'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. Henderson Land Development 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

Henderson Land Development Company Limited, an investment holding company, engages in the property development and investment activities in Hong Kong and Mainland China. The company operates through Property Development, Property Leasing, Department Store Operation, Other Businesses, and Utility and Energy. The Property Development segment develops and sells real estate properties. Its property portfolio primarily includes offices, shopping arcades, shopping malls, commercial complexes, and residential properties. The Property Leasing segment leases properties. The Department Store Operation segment operates and manages department stores. The Other Businesses segment operates and manages hotels; provides construction, finance, project management, property management, agency, and cleaning and security guard services; and trades in building materials, as well as disposes leasehold land. The Utility and Energy segment is involved in production, distribution, and marketing gas; and water supply and environmentally-friendly energy businesses. Henderson Land Development Company Limited was founded in 1976 and is based in Central, Hong Kong. Henderson Land Development Company Limited is a subsidiary of Henderson Development Limited.

Details
Name: Henderson Land Development Company Limited
HLDC.Y
Exchange: OTCPK
Founded: 1976
HK$26,969,472,468
4,401,260,912
Website: http://www.hld.com
Address: Henderson Land Development Company Limited
Two International Finance Centre,
72-76 Floors,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 12 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 17. Aug 1981
OTCPK HLDV.F Ordinary Shares Pink Sheets LLC US USD 17. Aug 1981
DB HLD Ordinary Shares Deutsche Boerse AG DE EUR 17. Aug 1981
SHSC 12 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 17. Aug 1981
SZSC 12 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 17. Aug 1981
OTCPK HLDC.Y SPONSORED ADR Pink Sheets LLC US USD 19. Nov 1992
Number of employees
Current staff
Staff numbers
8,954
Henderson Land Development employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 01:36
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/08
Last earnings filing: 2019/04/18
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.