Loading...

Lai Sun Development

OTCPK:LVSD.F
Snowflake Description

Proven track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LVSD.F
OTCPK
HK$8B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Lai Sun Development Company Limited, together with its subsidiaries, invests in, develops, leases, and sells real estate properties in Hong Kong, the United Kingdom, Vietnam, and internationally. The last earnings update was 11 days ago. More info.


Add to Portfolio Compare Print
LVSD.F Share Price and Events
7 Day Returns
0%
OTCPK:LVSD.F
2.7%
US Real Estate
1.7%
US Market
1 Year Returns
-
OTCPK:LVSD.F
-9.3%
US Real Estate
9.6%
US Market
LVSD.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Lai Sun Development (LVSD.F) 0% 0% 0% - 11233.3% 8400%
US Real Estate 2.7% 3% 17.2% -9.3% 30.6% 14.4%
US Market 1.7% 5% 13.2% 9.6% 41.8% 50.6%
1 Year Return vs Industry and Market
  • No trading data on LVSD.F.
  • No trading data on LVSD.F.
Price Volatility
LVSD.F
Industry
5yr Volatility vs Market

LVSD.F Value

 Is Lai Sun 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 Lai Sun 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 Lai Sun Development.

OTCPK:LVSD.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 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 16%
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:LVSD.F
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 1.23
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.228 (1 + (1- 25%) (244.1%))
2.659
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 6.65%)
16.03%

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

The calculations below outline how an intrinsic value for Lai Sun 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:LVSD.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 16.03%)
2019 153.64 Est @ 7.47% 132.42
2020 162.94 Est @ 6.05% 121.03
2021 171.17 Est @ 5.05% 109.58
2022 178.63 Est @ 4.36% 98.55
2023 185.54 Est @ 3.87% 88.22
2024 192.08 Est @ 3.53% 78.72
2025 198.40 Est @ 3.29% 70.07
2026 204.59 Est @ 3.12% 62.28
2027 210.74 Est @ 3% 55.28
2028 216.89 Est @ 2.92% 49.04
Present value of next 10 years cash flows HK$865.19
OTCPK:LVSD.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$216.89 × (1 + 2.73%) ÷ (16.03% – 2.73%)
HK$1,675.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$1,675.29 ÷ (1 + 16.03%)10
HK$378.78
OTCPK:LVSD.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$865.19 + HK$378.78
HK$1,243.97
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$1,243.97 / 606.46
HK$2.05
OTCPK:LVSD.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:LVSD.F represents 0.12957x of SEHK:488
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.12957x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 2.05 x 0.12957
$0.27
Value per share (USD) From above. $0.27
Current discount Discount to share price of $1.70
= -1 x ($1.70 - $0.27) / $0.27
-539.6%

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

  • The current share price of Lai Sun 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 Lai Sun Development's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Lai Sun Development's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:LVSD.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-01-31) in HKD HK$13.51
SEHK:488 Share Price ** SEHK (2019-01-09) in HKD HK$13.12
United States of America Real Estate Industry PE Ratio Median Figure of 27 Publicly-Listed Real Estate Companies 17.86x
United States of America Market PE Ratio Median Figure of 3,068 Publicly-Listed Companies 18.09x

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

** Primary Listing of Lai Sun Development.

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

= SEHK:488 Share Price ÷ EPS (both in HKD)

= 13.12 ÷ 13.51

0.97x

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

  • Lai Sun Development is good value based on earnings compared to the US Real Estate industry average.
  • Lai Sun Development is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Lai Sun Development's expected growth come at a high price?
Raw Data
OTCPK:LVSD.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-148.2%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 1.22x
United States of America Market PEG Ratio Median Figure of 2,106 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 0.97x ÷ -148.2%

-0.01x

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

  • Lai Sun 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 Lai Sun Development's assets?
Raw Data
OTCPK:LVSD.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-01-31) in HKD HK$60.24
SEHK:488 Share Price * SEHK (2019-01-09) in HKD HK$13.12
United States of America Real Estate Industry PB Ratio Median Figure of 54 Publicly-Listed Real Estate Companies 1.53x
United States of America Market PB Ratio Median Figure of 5,164 Publicly-Listed Companies 1.94x
OTCPK:LVSD.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:488 Share Price ÷ Book Value per Share (both in HKD)

= 13.12 ÷ 60.24

0.22x

* Primary Listing of Lai Sun Development.

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

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

LVSD.F Future Performance

 How is Lai Sun Development expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
-148.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Lai Sun Development expected to grow at an attractive rate?
  • Lai Sun 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
  • Lai Sun Development's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Lai Sun Development's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:LVSD.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:LVSD.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -148.2%
OTCPK:LVSD.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 5%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 8.4%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 9.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*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:LVSD.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:LVSD.F Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-07-31 5,214 253 237 1
2019-07-31 5,879 86 975 1
OTCPK:LVSD.F Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-01-31 4,590 8,188
2018-10-31 3,141 6,262
2018-07-31 1,693 729 4,335
2018-04-30 1,721 745 3,370
2018-01-31 1,749 761 2,404
2017-10-31 1,727 573 2,249
2017-07-31 1,704 385 2,094
2017-04-30 1,654 323 1,571
2017-01-31 1,604 261 1,048
2016-10-31 1,736 120 1,098
2016-07-31 1,868 -22 1,148
2016-04-30 1,858 -73 1,636

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Lai Sun Development's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Lai Sun Development's revenue is expected to grow by 5% 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:LVSD.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Lai Sun Development Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:LVSD.F Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-07-31 0.39 0.39 0.39 1.00
2019-07-31 1.61 1.61 1.61 1.00
OTCPK:LVSD.F Past Financials Data
Date (Data in HKD Millions) EPS *
2019-01-31 13.51
2018-10-31 10.34
2018-07-31 7.16
2018-04-30 5.57
2018-01-31 3.97
2017-10-31 3.72
2017-07-31 3.47
2017-04-30 2.61
2017-01-31 1.75
2016-10-31 1.98
2016-07-31 2.27
2016-04-30 3.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Lai Sun Development will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Lai Sun 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.
Lai Sun Development has a total score of 0/6, 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.

LVSD.F Past Performance

  How has Lai Sun 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 Lai Sun 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.
  • Lai Sun Development has delivered over 20% year on year earnings growth in the past 5 years.
  • Lai Sun Development's 1-year earnings growth exceeds its 5-year average (240.6% vs 32.3%)
  • Lai Sun Development's earnings growth has exceeded the US Real Estate industry average in the past year (240.6% vs -5.2%).
Earnings and Revenue History
Lai Sun 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 Lai Sun Development Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:LVSD.F Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-01-31 4,589.97 8,187.87 867.84
2018-10-31 3,141.49 6,261.53 658.61
2018-07-31 1,693.01 4,335.20 449.39
2018-04-30 1,721.22 3,369.64 419.07
2018-01-31 1,749.42 2,404.08 388.76
2017-10-31 1,726.75 2,248.82 383.86
2017-07-31 1,704.08 2,093.57 378.97
2017-04-30 1,653.96 1,570.99 350.57
2017-01-31 1,603.85 1,048.40 322.18
2016-10-31 1,736.09 1,098.40 318.74
2016-07-31 1,868.33 1,148.39 315.31
2016-04-30 1,857.65 1,635.70 306.20
2016-01-31 1,846.97 2,123.01 297.09
2015-10-31 1,694.33 2,070.63 290.36
2015-07-31 1,541.69 2,018.26 283.63
2015-04-30 1,602.16 1,891.67 279.30
2015-01-31 1,662.64 1,765.08 274.97
2014-10-31 1,886.14 1,621.91 300.98
2014-07-31 2,109.65 1,478.73 326.98
2014-04-30 1,934.45 1,350.06 321.01
2014-01-31 1,759.26 1,221.40 315.04
2013-10-31 1,361.51 1,892.76 331.57
2013-07-31 963.76 2,564.11 348.10
2013-04-30 908.04 3,240.45 366.89
2013-01-31 852.32 3,916.80 385.69
2012-10-31 863.74 3,099.68 355.68
2012-07-31 875.16 2,282.57 325.68
2012-04-30 925.31 2,060.69 324.33

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

LVSD.F Health

 How is Lai Sun 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 Lai Sun Development's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Lai Sun Development is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Lai Sun Development's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Lai Sun 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 not covered by short term assets, assets are 0.8x 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 Lai Sun Development Company Filings, last reported 2 months ago.

OTCPK:LVSD.F Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-01-31 49,268.76 19,422.46 4,333.71
2018-10-31 49,268.76 19,422.46 4,333.71
2018-07-31 31,618.68 12,003.33 3,958.42
2018-04-30 31,618.68 12,003.33 3,958.42
2018-01-31 28,822.20 9,681.18 2,025.41
2017-10-31 28,822.20 9,681.18 2,025.41
2017-07-31 27,104.54 9,637.21 2,664.07
2017-04-30 27,104.54 9,637.21 2,664.07
2017-01-31 25,590.17 8,317.44 2,568.18
2016-10-31 25,590.17 8,317.44 2,568.18
2016-07-31 24,891.85 8,111.66 2,354.68
2016-04-30 24,891.85 8,111.66 2,354.68
2016-01-31 24,086.03 7,851.82 1,590.11
2015-10-31 24,086.03 7,851.82 1,590.11
2015-07-31 23,103.57 6,986.53 1,073.61
2015-04-30 23,103.57 6,986.53 1,073.61
2015-01-31 22,009.39 7,024.68 1,145.07
2014-10-31 22,009.39 7,024.68 1,145.07
2014-07-31 21,224.50 5,389.34 1,673.64
2014-04-30 21,224.50 5,389.34 1,673.64
2014-01-31 20,364.86 5,712.25 3,312.48
2013-10-31 20,364.86 5,712.25 3,312.48
2013-07-31 19,529.95 5,774.08 3,139.44
2013-04-30 19,529.95 5,774.08 3,139.44
2013-01-31 18,855.34 6,112.57 3,451.06
2012-10-31 18,855.34 6,112.57 3,451.06
2012-07-31 16,684.28 2,812.22 1,566.75
2012-04-30 16,684.28 2,812.22 1,566.75
  • Lai Sun Development's level of debt (39.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (28% vs 39.4% today).
  • Debt is not well covered by operating cash flow (3.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Lai Sun 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. Lai Sun Development has a total score of 2/6, 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.

LVSD.F Dividends

 What is Lai Sun 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
0.82%
Current annual income from Lai Sun Development dividends. Estimated to be 0.84% next year.
If you bought $2,000 of Lai Sun Development shares you are expected to receive $16 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?
  • Lai Sun Development's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
  • Lai Sun Development's dividend is below the markets top 25% of dividend payers in United States of America (3.66%).
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:LVSD.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 1 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 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 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:LVSD.F Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2020-07-31 0.11 1.00
2019-07-31 0.11 1.00
OTCPK:LVSD.F Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-01-09 0.108 0.830
2017-10-23 0.100 0.777
2016-12-16 0.095 0.870
2015-12-11 0.125 2.006
2014-12-09 0.125 1.541

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

  • Lai Sun Development has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Lai Sun Development has only been paying a dividend for 4 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Lai Sun Development's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (125.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Lai Sun 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 Lai Sun Development afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Lai Sun Development has a total score of 1/6, see the detailed checks below.


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

LVSD.F Management

 What is the CEO of Lai Sun 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
Julius Lau
COMPENSATION HK$5,037,000
AGE 62
TENURE AS CEO 13.4 years
CEO Bio

Mr. Shu Yan Lau, also known as Julius, has been the Chief Executive Officer of Lai Sun Development Co. Ltd. since November 1, 2005 and served as its Chairman since December 20, 2011. Mr. Lau has more than 18 years of experience of holding senior management positions in the property and securities industries. He has been an Executive Director of Lai Sun Development Co. Ltd. a subsidiary of Lai Sun Garment International Ltd. since July 19, 1991. He serves as a Director and a member of the Executive Committee of the Real Estate Developers Association of Hong Kong. He serves as a director of a number of subsidiaries of Lai Fung Holdings Ltd. He served as an Executive Director of Lai Fung Holdings Ltd. since April 22, 2005 until January 17, 2015. He served as a Director of Jones Lang Wootton Limited and Jardine Fleming Broking Limited.

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

Peter Lam

TITLE
Executive Chairman of the Board
COMPENSATION
HK$15M
AGE
61

Julius Lau

TITLE
CEO & Director
COMPENSATION
HK$5M
AGE
62
TENURE
13.4 yrs

Fook Aun Chew

TITLE
Executive Deputy Chairman of the Board
COMPENSATION
HK$9M
AGE
56

Lester Lam

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
37

Abi Tsang

TITLE
Deputy Financial Controller

Kwanyee Tam

TITLE
SVP Group Corporate & Investor Relations

Kwok Chow

TITLE
Company Secretary
TENURE
6.1 yrs
Board of Directors Tenure

Average tenure and age of the Lai Sun Development board of directors in years:

15.7
Average Tenure
64.5
Average Age
  • The average tenure for the Lai Sun Development board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Julius Lau

TITLE
CEO & Director
COMPENSATION
HK$5M
AGE
62
TENURE
27.8 yrs

Fook Aun Chew

TITLE
Executive Deputy Chairman of the Board
COMPENSATION
HK$9M
AGE
56
TENURE
6.8 yrs

Lester Lam

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
37
TENURE
6.4 yrs

William Leung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
69
TENURE
14.6 yrs

Peter Lam

TITLE
Executive Chairman of the Board
COMPENSATION
HK$15M
AGE
61
TENURE
41.8 yrs

Bing Lam

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
69
TENURE
16.8 yrs

Po Chu U

TITLE
Non-Executive Director
COMPENSATION
HK$250K
AGE
93
TENURE
25.3 yrs

Kin Ming Lam

TITLE
Non-Executive Director
COMPENSATION
HK$250K
AGE
81
TENURE
59.8 yrs

Stephen Ip

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
67
TENURE
9.3 yrs

Clarence Leung

TITLE
Independent Non-Executive Director
AGE
39
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Lai Sun Development insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Mar 19 Buy Cheuk Yi Yu Individual 01. Mar 19 01. Mar 19 750,600 $1.65 $1,237,069
22. Nov 18 Buy Cheuk Yi Yu Individual 21. Nov 18 21. Nov 18 210,300 $1.66 $348,061
22. Jun 18 Buy Lai Sun Garment (International) Limited Company 19. Jun 18 19. Jun 18 918,000 $1.77 $1,622,096
21. Jun 18 Buy Lai Sun Garment (International) Limited Company 15. Jun 18 15. Jun 18 219,900 $1.77 $389,395
20. Jun 18 Buy Lai Sun Garment (International) Limited Company 14. Jun 18 14. Jun 18 775,500 $1.77 $1,369,412
19. Jun 18 Buy Lai Sun Garment (International) Limited Company 13. Jun 18 13. Jun 18 196,200 $1.77 $347,483
26. Jun 18 Buy Lai Sun Garment (International) Limited Company 21. Jun 18 21. Jun 18 3,027,300 $1.77 $5,344,338
25. Jun 18 Buy Lai Sun Garment (International) Limited Company 20. Jun 18 20. Jun 18 804,600 $1.77 $1,424,190
12. Jul 18 Buy Lai Sun Garment (International) Limited Company 09. Jul 18 09. Jul 18 4,318,800 $1.58 $6,823,557
21. Jun 18 Sell Cheuk Yi Yu Individual 21. Jun 18 21. Jun 18 -1,603,200 $1.77 $-2,830,955
15. Jun 18 Buy Lai Sun Garment (International) Limited Company 12. Jun 18 12. Jun 18 58,500 $1.78 $104,002
08. Jun 18 Buy Lai Sun Garment (International) Limited Company 05. Jun 18 05. Jun 18 182,100 $1.80 $328,363
07. Jun 18 Buy Lai Sun Garment (International) Limited Company 04. Jun 18 04. Jun 18 854,100 $1.78 $1,516,438
06. Jun 18 Buy Lai Sun Garment (International) Limited Company 01. Jun 18 01. Jun 18 431,100 $1.76 $759,955
05. Jun 18 Buy Lai Sun Garment (International) Limited Company 31. May 18 31. May 18 1,818,600 $1.74 $3,157,606
04. Jun 18 Buy Lai Sun Garment (International) Limited Company 30. May 18 30. May 18 3,714,300 $1.73 $6,427,704
31. May 18 Buy Cheuk Yi Yu Individual 30. May 18 30. May 18 1,901,400 $1.73 $3,297,746
11. Apr 18 Buy Cheuk Yi Yu Individual 10. Apr 18 10. Apr 18 215,700 $1.67 $360,518
X
Management checks
We assess Lai Sun 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. Lai Sun 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.

LVSD.F News

Simply Wall St News

LVSD.F Company Info

Description

Lai Sun Development Company Limited, together with its subsidiaries, invests in, develops, leases, and sells real estate properties in Hong Kong, the United Kingdom, Vietnam, and internationally. It operates through Property Development and Sales, Property Investment, Restaurant Operation, Hotel Operation, and Others segments. The company also invests in, develops, operates, and manages hotels and restaurants; and provides management and consultancy services to hotels and restaurants. In addition, it offers property management, real estate agency, leasing agency, and building services; and luxury yachts brokerage, charter, marketing, management, and crew placement services; and finance and treasury services, as well as engages in golf apparel retailing. The company is headquartered in Central, Hong Kong. Lai Sun Development Company Limited is a subsidiary of Lai Sun Garment (International) Limited.

Details
Name: Lai Sun Development Company Limited
LVSD.F
Exchange: OTCPK
Founded:
HK$1,014,229,032
606,464,125
Website: http://www.laisun.com/lai-sun-development/en-US
Address: Lai Sun Development Company Limited
AIA Central,
19th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 488 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK LVSD.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
SZSC 488 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
Number of employees
Current staff
Staff numbers
4,000
Lai Sun Development employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/09 04:24
End of day share price update: 2019/01/09 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2019/03/29
Last earnings reported: 2019/01/31
Last annual earnings reported: 2018/07/31


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.