Loading...

New World Development

OTCPK:NDVL.Y
Snowflake Description

6 star dividend payer with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NDVL.Y
OTCPK
HK$125B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

New World Development Company Limited, an investment holding company, invests in, develops, constructs, operates, manages, rents, and leases properties. The last earnings update was 65 days ago. More info.


Add to Portfolio Compare Print
NDVL.Y Share Price and Events
7 Day Returns
-4.4%
OTCPK:NDVL.Y
-0.5%
US Real Estate
1.6%
US Market
1 Year Returns
-1.3%
OTCPK:NDVL.Y
-16.7%
US Real Estate
2.6%
US Market
NDVL.Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
New World Development (NDVL.Y) -4.4% -10% -8.4% -1.3% 68.1% 37.8%
US Real Estate -0.5% -7.4% -9.2% -16.7% 18.9% 2.5%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • NDVL.Y outperformed the Real Estate industry which returned -16.7% over the past year.
  • NDVL.Y underperformed the Market in United States of America which returned 2.6% over the past year.
Price Volatility
NDVL.Y
Industry
5yr Volatility vs Market

NDVL.Y Value

 Is New World 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 New World 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 New World Development.

OTCPK:NDVL.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 10 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:NDVL.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 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.108 (1 + (1- 25%) (119.51%))
1.738
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.74
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.738 * 6.65%)
14.29%

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

The calculations below outline how an intrinsic value for New World 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:NDVL.Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 14.29%)
2019 2,807.67 Analyst x3 2,456.72
2020 13,136.67 Analyst x3 10,057.85
2021 17,558.67 Analyst x3 11,763.10
2022 21,246.15 Est @ 21% 12,454.33
2023 24,543.47 Est @ 15.52% 12,588.86
2024 27,410.83 Est @ 11.68% 12,302.20
2025 29,876.96 Est @ 9% 11,732.94
2026 32,003.26 Est @ 7.12% 10,997.02
2027 33,859.70 Est @ 5.8% 10,180.61
2028 35,511.90 Est @ 4.88% 9,342.75
Present value of next 10 years cash flows HK$103,876.38
OTCPK:NDVL.Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$35,511.90 × (1 + 2.73%) ÷ (14.29% – 2.73%)
HK$315,714.47
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$315,714.47 ÷ (1 + 14.29%)10
HK$83,060.64
OTCPK:NDVL.Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$103,876.38 + HK$83,060.64
HK$186,937.03
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$186,937.03 / 10,222.93
HK$18.29
OTCPK:NDVL.Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:NDVL.Y represents 0.25082x of SEHK:17
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.25082x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 18.29 x 0.25082
$4.59
Value per share (USD) From above. $4.59
Current discount Discount to share price of $3.06
= -1 x ($3.06 - $4.59) / $4.59
33.3%

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

Current Discount
Amount off the current price New World Development is available for.
Intrinsic value
33%
Share price is $3.06 vs Future cash flow value of $4.59
Current Discount Checks
For New World Development to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • New World Development's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • New World Development's share price is below the future cash flow value, but not 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 New World Development's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are New World Development's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:NDVL.Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$2.30
SEHK:17 Share Price ** SEHK (2019-05-21) in HKD HK$12.2
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.11x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

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

** Primary Listing of New World Development.

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

= SEHK:17 Share Price ÷ EPS (both in HKD)

= 12.2 ÷ 2.30

5.31x

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

  • New World Development is good value based on earnings compared to the US Real Estate industry average.
  • New World Development is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does New World Development's expected growth come at a high price?
Raw Data
OTCPK:NDVL.Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
-8%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 2,123 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.31x ÷ -8%

-0.66x

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

  • New World 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 New World Development's assets?
Raw Data
OTCPK:NDVL.Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$22.44
SEHK:17 Share Price * SEHK (2019-05-21) in HKD HK$12.2
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.51x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
OTCPK:NDVL.Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:17 Share Price ÷ Book Value per Share (both in HKD)

= 12.2 ÷ 22.44

0.54x

* Primary Listing of New World Development.

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

  • New World Development is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess New World 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. New World Development has a total score of 4/6, 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.

NDVL.Y Future Performance

 How is New World Development expected to perform in the next 1 to 3 years based on estimates from 10 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
-8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is New World Development expected to grow at an attractive rate?
  • New World 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
  • New World Development's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • New World Development's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:NDVL.Y Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:NDVL.Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts -8%
OTCPK:NDVL.Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 7%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
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:NDVL.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 10 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:NDVL.Y Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 86,618 18,077 10,279 8
2020-06-30 69,796 14,295 9,569 10
2019-06-30 72,839 9,198 10,181 9
OTCPK:NDVL.Y Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 82,020 -7,106 23,353
2018-09-30 71,355 285 23,345
2018-06-30 60,689 7,676 23,338
2018-03-31 59,307 8,267 18,974
2017-12-31 57,925 8,858 14,610
2017-09-30 57,277 6,007 11,143
2017-06-30 56,629 3,156 7,676
2017-03-31 54,530 5,683 8,689
2016-12-31 52,431 8,210 9,702
2016-09-30 56,001 8,108 9,184
2016-06-30 59,570 8,006 8,666
2016-03-31 60,803 9,484 12,612

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • New World Development's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • New World Development's revenue is expected to grow by 7% 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:NDVL.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 10 Analyst Estimates (S&P Global) See Below

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

OTCPK:NDVL.Y Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 1.00 1.09 0.79 6.00
2020-06-30 0.94 1.02 0.85 7.00
2019-06-30 1.01 1.48 0.83 6.00
OTCPK:NDVL.Y Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 2.30
2018-09-30 2.32
2018-06-30 2.34
2018-03-31 1.92
2017-12-31 1.50
2017-09-30 1.15
2017-06-30 0.80
2017-03-31 0.92
2016-12-31 1.04
2016-09-30 0.99
2016-06-30 0.95
2016-03-31 1.39

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

NDVL.Y Past Performance

  How has New World 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 New World 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.
  • New World Development's year on year earnings growth rate has been positive over the past 5 years.
  • New World Development's 1-year earnings growth exceeds its 5-year average (59.8% vs 13.4%)
  • New World Development's earnings growth has exceeded the US Real Estate industry average in the past year (59.8% vs -15.8%).
Earnings and Revenue History
New World 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 New World Development Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:NDVL.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 82,020.40 23,352.60 10,188.40
2018-09-30 71,354.55 23,345.35 9,707.15
2018-06-30 60,688.70 23,338.10 9,225.90
2018-03-31 59,306.75 18,974.00 9,135.45
2017-12-31 57,924.80 14,609.90 9,045.00
2017-09-30 57,276.80 11,142.80 8,915.25
2017-06-30 56,628.80 7,675.70 8,785.50
2017-03-31 54,530.00 8,688.85 8,918.50
2016-12-31 52,431.20 9,702.00 9,051.50
2016-09-30 56,000.60 9,184.15 9,337.75
2016-06-30 59,570.00 8,666.30 9,624.00
2016-03-31 60,803.45 12,611.85 9,573.20
2015-12-31 62,036.90 16,557.40 9,522.40
2015-09-30 58,640.95 17,834.70 9,665.60
2015-06-30 55,245.00 19,112.00 9,808.80
2015-03-31 55,776.10 15,081.40 9,535.70
2014-12-31 56,307.20 11,050.80 9,262.60
2014-09-30 56,404.15 10,388.10 8,989.35
2014-06-30 56,501.10 9,725.40 8,716.10
2014-03-31 53,003.10 9,208.70 8,520.05
2013-12-31 49,505.10 8,692.00 8,324.00
2013-09-30 48,142.50 11,420.35 8,060.60
2013-06-30 46,779.90 14,148.70 7,797.20
2013-03-31 43,875.95 14,524.90 7,373.90
2012-12-31 40,972.00 14,901.10 6,950.60
2012-09-30 38,296.05 12,520.05 6,716.60
2012-06-30 35,620.10 10,139.00 6,482.60

*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.
  • New World Development has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • New World Development used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • New World Development has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess New World 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.
New World Development has a total score of 5/6, 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.

NDVL.Y Health

 How is New World 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 New World Development's finances.

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

OTCPK:NDVL.Y Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 258,964.30 149,052.50 51,838.70
2018-09-30 258,964.30 149,052.50 51,838.70
2018-06-30 255,181.90 141,118.30 77,008.10
2018-03-31 255,181.90 141,118.30 77,008.10
2017-12-31 239,875.60 147,229.10 65,432.40
2017-09-30 239,875.60 147,229.10 65,432.40
2017-06-30 220,944.50 147,751.20 78,429.70
2017-03-31 220,944.50 147,751.20 78,429.70
2016-12-31 212,474.30 144,500.10 68,023.40
2016-09-30 212,474.30 144,500.10 68,023.40
2016-06-30 200,895.30 135,726.10 65,692.90
2016-03-31 200,895.30 135,726.10 65,692.90
2015-12-31 217,352.40 136,317.40 64,550.20
2015-09-30 217,352.40 136,317.40 64,550.20
2015-06-30 222,358.00 118,003.90 67,387.30
2015-03-31 222,358.00 118,003.90 67,387.30
2014-12-31 208,405.40 121,736.30 63,264.00
2014-09-30 208,405.40 121,736.30 63,264.00
2014-06-30 200,276.50 121,443.70 72,123.30
2014-03-31 200,276.50 121,443.70 72,123.30
2013-12-31 184,360.00 115,530.20 46,727.80
2013-09-30 184,360.00 115,530.20 46,727.80
2013-06-30 177,745.00 107,341.30 48,853.50
2013-03-31 177,745.00 107,341.30 48,853.50
2012-12-31 171,743.40 94,712.00 31,306.20
2012-09-30 171,743.40 94,712.00 31,306.20
2012-06-30 158,040.70 90,123.10 35,973.70
  • New World Development's level of debt (57.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (62.6% vs 57.6% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 28.6x coverage).
X
Financial health checks
We assess New World 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. New World 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.

NDVL.Y Dividends

 What is New World 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
3.93%
Current annual income from New World Development dividends. Estimated to be 4.27% next year.
If you bought $2,000 of New World Development shares you are expected to receive $79 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?
  • New World Development's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • New World Development's dividend is above the markets top 25% of dividend payers in United States of America (3.72%).
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:NDVL.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 10 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 2003 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:NDVL.Y Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.55 8.00
2020-06-30 0.52 11.00
2019-06-30 0.50 10.00
OTCPK:NDVL.Y Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-02-27 0.480 3.736
2018-09-20 0.480 4.403
2018-02-27 0.470 4.201
2017-10-19 0.460 3.919
2017-09-21 0.460 3.956
2017-02-22 0.440 4.340
2016-11-28 0.440 5.012
2015-10-16 0.420 5.283
2015-09-24 0.420 5.312
2015-04-21 0.420 4.515
2014-11-25 0.420 4.613
2014-02-26 0.420 4.641
2013-11-25 0.420 4.242
2013-02-27 0.400 3.383
2012-10-19 0.380 2.952
2012-09-26 0.380 3.048
2012-02-29 0.380 3.997
2011-09-30 0.380 5.037
2011-02-28 0.380 3.285
2010-10-25 0.380 2.502
2010-10-06 0.380 2.291
2009-10-08 0.300 2.088

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of New World Development's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess New World 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 New World Development afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. New World Development has a total score of 6/6, see the detailed checks below.


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

NDVL.Y Management

 What is the CEO of New World 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
Henry Cheng
COMPENSATION HK$57,300,000
AGE 71
TENURE AS CEO 30.3 years
CEO Bio

Dr. Kar-Shun Cheng, also known as Henry, BA, MBA, DBA(Hon), LLD(Hon), GBM GBS, has been the Executive Chairman at New World Development Company Limited since March 1, 2012 and its Managing Director since 1989. Dr. Cheng has been the Chairman of NWS Holdings Limited since March 2001 and has been its Executive Director since March 2000. He is the Co-Owner of United Worldwide Investment S.A. He has been the Chairman and Executive Director of Chow Tai Fook Jewellery Group Limited since July 26, 2011. He has been the Chairman of New World TMT Limited since 1995. He has been the Non-Executive Chairman at FSE Services Group Limited (formerly known as FSE Engineering Holdings Limited) since August 28, 2015. He has been the Chairman and Non-Executive Director of New World Department Store China Ltd. since June 2007. He serves as the Chairman of NWS Transport Services Limited and New World Infrastructure Limited. He serves as the Chairman of Taifook Securities Group Limited. He was Non-Executive Chairman of Newton Resources Ltd. from May 23, 2012 to April 09, 2018. Dr. Cheng serves as the Chairman and Managing Director at New World China Land Ltd. since 1999. He served as the Chairman of International Entertainment Corp. from November 2004 to June 10, 2017 and served as its Executive Director from July 2004 to June 10, 2017. He served as the Chairman of Vision Values Holdings Limited since July 6, 2004. Dr. Cheng served as the Chairman of the Board of Haitong International Securities Group Limited from May 14, 1996 to January 13, 2010. He served as the Chairman of New World Mobile Holdings Limited since July 6, 2004. He served as the Chairman of New World First Bus Services Limited, New World Services Limited, New World Telephone Holdings Limited. He has been an Executive Director of New World Development Company Limited since 1973. He serves as Director of New World TMT Limited. He has been an Executive Director of New World China Land Limited since August 28, 1999 and at Rosy Unicorn Limited since March 2000. He served as an Independent Non-Executive Director of HKR International Ltd. since June 5, 1989 until March 31, 2018. He served as Chairman of Asia Logistics Technologies Limited and Non-executive Director since November 2001. He is an Honorary Chairman of Rosewood Hotel Group. Dr. Cheng served as Director of Marriott International, Inc. since March 1, 1998 until July 25, 2002. He serves as the Chairman of the Advisory Council for The Better Hong Kong Foundation. He has been a Non-Executive Director of SJM Holdings Limited since May 31, 2013. He serves as Honorary Chairman of New World Hospitality Ltd. He served as an Independent Non-Executive Director of Hang Seng Bank Limited from May 26, 2014 to May 10, 2018. He serves as a Director of Cheng Yu Tung Family (Holdings) Limited, Cheng Yu Tung Family (Holdings II) Limited, Chow Tai Fook Capital Limited, Chow Tai Fook (Holding) Limited and Chow Tai Fook Enterprises Limited, all of them are substantial shareholders of the Company. He serves as Vice Chairman and Non-Executive Director of i-CABLE Communications Limited since September 15, 2017. He served as a Non-Executive Director of Lifestyle International Holdings Ltd., since March 5, 2004 until May 4, 2015. He served as an Executive Director of New World Mobility since July 2004. He served as Chairman of the Advisory Panel of the Asian Management Institute, University of Western Ontario. He served as Director of New World Development Company Limited since 1972. He served as Executive Director of Haitong International Securities Group Limited from May 14, 1996 to January 13, 2010. He is also a member of the Advisory Board of the University of Alberta, Canada, a member of the Advisory Committee for the Harvard Asia Centre, a member of the John Harvard Fellows, a member of the Asian Advisory Board of the Prudential Insurance Company of America and a committee member of the Eighth, Ninth & Tenth National Committee of Chinese People's Political Consultative Conference, a committee member of the Chinese General Chamber of Commerce and a member of the Hong Kong/Japan Business Co-operation Committee and the Hong Kong/European Union Business Cooperation Committee. Dr. Cheng is also the chairman of New World Hotels (Holdings) Limited and a director of certain subsidiaries of the Group. Dr. Cheng was awarded the Gold Bauhinia Star and the Grand Bauhinia Medal in 2001 and 2017 respectively by the Government of the Hong Kong Special Administrative Region. He holds an Honorary Doctor of Business Administration in Hospitality Management from Johnson & Wales University. He holds Honorary Doctor in Law from University of Western Ontario. He graduated with B.A, M.B.A. in Honors and LLD in Honors.

CEO Compensation
  • Henry's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Henry's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the New World Development management team in years:

5.3
Average Tenure
64
Average Age
  • The average tenure for the New World Development management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Henry Cheng

TITLE
Executive Chairman & MD
COMPENSATION
HK$57M
AGE
71
TENURE
30.3 yrs

Adrian Cheng

TITLE
Executive Vice-Chairman & GM
COMPENSATION
HK$39M
AGE
38
TENURE
2.2 yrs

Tak-Cheong Au

TITLE
Head of Finance & Accounts and Executive Director
COMPENSATION
HK$9M
AGE
66
TENURE
8.3 yrs

Conroy Cheng

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
40

Sonia Cheng

TITLE
Executive Director
COMPENSATION
HK$16M
AGE
37

Nam-Hoi Sitt

TITLE
Senior Director of the Project Management Department & Executive Director
COMPENSATION
HK$14M
AGE
64

Alfred So

TITLE
Executive Director
COMPENSATION
HK$17M
AGE
69

Leonie Ki

TITLE
Advisor & Non-Executive Director
COMPENSATION
HK$9M
AGE
71
TENURE
0.9 yrs

Aldous Chiu

TITLE
General Manager - Investor Relations

Melvin Yeo

TITLE
Senior Director of Sales and Marketing Department
AGE
51
Board of Directors Tenure

Average tenure and age of the New World Development board of directors in years:

7.2
Average Tenure
67
Average Age
  • The tenure for the New World Development board of directors is about average.
Board of Directors

Henry Cheng

TITLE
Executive Chairman & MD
COMPENSATION
HK$57M
AGE
71
TENURE
7.2 yrs

Adrian Cheng

TITLE
Executive Vice-Chairman & GM
COMPENSATION
HK$39M
AGE
38
TENURE
4.1 yrs

William Doo

TITLE
Non-Executive Vice Chairman
COMPENSATION
HK$400K
AGE
74
TENURE
5.8 yrs

Tak-Cheong Au

TITLE
Head of Finance & Accounts and Executive Director
COMPENSATION
HK$9M
AGE
66
TENURE
5.8 yrs

Conroy Cheng

TITLE
Executive Director
COMPENSATION
HK$3M
AGE
40
TENURE
8.9 yrs

Sonia Cheng

TITLE
Executive Director
COMPENSATION
HK$16M
AGE
37
TENURE
7.2 yrs

Nam-Hoi Sitt

TITLE
Senior Director of the Project Management Department & Executive Director
COMPENSATION
HK$14M
AGE
64
TENURE
0.9 yrs

Alfred So

TITLE
Executive Director
COMPENSATION
HK$17M
AGE
69
TENURE
0.9 yrs

Hamilton Ho

TITLE
Independent Non-Executive Director
COMPENSATION
HK$900K
AGE
67
TENURE
14.8 yrs

John Lee

TITLE
Independent Non-Executive Director
COMPENSATION
HK$900K
AGE
69
TENURE
14.8 yrs

Leonie Ki

TITLE
Advisor & Non-Executive Director
COMPENSATION
HK$9M
AGE
71
TENURE
10.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess New World 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. New World 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.

NDVL.Y News

Simply Wall St News

NDVL.Y Company Info

Description

New World Development Company Limited, an investment holding company, invests in, develops, constructs, operates, manages, rents, and leases properties. The company operates through Property Development, Property Investment, Service, Infrastructure, Hotel Operations, Department Stores, and Others segments. Its property portfolio comprises residential projects, shopping malls, offices, hotels, and service apartments, as well as mixed-use commercial landmarks. The company also provides facility management, transport, and other services, as well as commercial aircraft leasing, container handling, storage, and bus and ferry services; and operates infrastructure projects, such as roads, environment, ports, logistics, and aviation. In addition, it is involved in duty free operation and general trading, civil engineering and building construction, cultural and creation, retail and corporate sales, loyalty program, marketing, promotion, fashion retailing and trading, and piling and ground investigation businesses. Further, the company manages Hong Kong Convention and Exhibition Centre; operates hotels, golf clubs, shopping malls, and toll roads; operates and manages department stores; and provides information technology, healthcare, training courses, financial, property agency management and consultancy, project management and consultancy, estate agency, management, carpark management, advertising and media related, business and investment consultancy, and wireless telecommunication network services; undertakes façade and foundation works; and sells LED lighting products and systems. As of June 30, 2018, it operated and managed a total of 35 stores and 2 shopping malls spreading in Mainland China; and had a total of 15 hotels providing approximately 6,000 guest rooms in Hong Kong, Mainland China, and Southeast Asia. New World Development Company Limited was founded in 1970 and is headquartered in Central, Hong Kong.

Details
Name: New World Development Company Limited
NDVL.Y
Exchange: OTCPK
Founded: 1970
HK$15,888,526,226
10,222,925,218
Website: http://www.nwd.com.hk
Address: New World Development Company Limited
New World Tower,
30th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 17 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK NDVL.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB NWD Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SHSC 17 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 17 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
OTCPK NDVL.Y SPONSORED ADR Pink Sheets LLC US USD 27. Jul 1995
Number of employees
Current staff
Staff numbers
43,000
New World Development employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 03:53
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/03/18
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.