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Road King Infrastructure

OTCPK:RKGX.F
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RKGX.F
OTCPK
HK$12B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Road King Infrastructure Limited, an investment holding company, invests in, develops, operates, and manages property projects and toll roads in the People’s Republic of China. The last earnings update was 50 days ago. More info.


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RKGX.F Share Price and Events
7 Day Returns
-3.2%
OTCPK:RKGX.F
-0.8%
US Real Estate
0.2%
US Market
1 Year Returns
-
OTCPK:RKGX.F
-16.5%
US Real Estate
2.9%
US Market
RKGX.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Road King Infrastructure (RKGX.F) -3.2% -3.2% - - - 131.5%
US Real Estate -0.8% -6.9% -9.9% -16.5% 14.5% 1%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • No trading data on RKGX.F.
  • No trading data on RKGX.F.
Price Volatility
RKGX.F
Industry
5yr Volatility vs Market

RKGX.F Value

 Is Road King Infrastructure 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 Road King Infrastructure 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 Road King Infrastructure.

OTCPK:RKGX.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. 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:RKGX.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 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.108 (1 + (1- 25%) (186.8%))
2.112
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:RKGX.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Road King Infrastructure 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:RKGX.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 16.03%)
2019 5,856.11 Est @ -13.92% 5,047.07
2020 5,333.44 Est @ -8.93% 3,961.57
2021 5,043.91 Est @ -5.43% 3,228.91
2022 4,893.55 Est @ -2.98% 2,699.87
2023 4,831.51 Est @ -1.27% 2,297.37
2024 4,828.20 Est @ -0.07% 1,978.63
2025 4,865.43 Est @ 0.77% 1,718.42
2026 4,931.54 Est @ 1.36% 1,501.14
2027 5,018.84 Est @ 1.77% 1,316.65
2028 5,122.13 Est @ 2.06% 1,158.10
Present value of next 10 years cash flows HK$24,907.72
OTCPK:RKGX.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$5,122.13 × (1 + 2.73%) ÷ (16.03% – 2.73%)
HK$39,563.65
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$39,563.65 ÷ (1 + 16.03%)10
HK$8,945.27
OTCPK:RKGX.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$24,907.72 + HK$8,945.27
HK$33,852.99
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$33,852.99 / 749.34
HK$45.18
OTCPK:RKGX.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:RKGX.F represents 0.13619x of SEHK:1098
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13619x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 45.18 x 0.13619
$6.15
Value per share (USD) From above. $6.15
Current discount Discount to share price of $2.13
= -1 x ($2.13 - $6.15) / $6.15
65.4%

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

Current Discount
Amount off the current price Road King Infrastructure is available for.
Intrinsic value
>50%
Share price is $2.13 vs Future cash flow value of $6.15
Current Discount Checks
For Road King Infrastructure to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Road King Infrastructure's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Road King Infrastructure's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Road King Infrastructure's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Road King Infrastructure's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:RKGX.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$3.99
SEHK:1098 Share Price ** SEHK (2019-05-20) in HKD HK$15.64
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 3,085 Publicly-Listed Companies 17.79x

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

** Primary Listing of Road King Infrastructure.

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

= SEHK:1098 Share Price ÷ EPS (both in HKD)

= 15.64 ÷ 3.99

3.92x

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

  • Road King Infrastructure is good value based on earnings compared to the US Real Estate industry average.
  • Road King Infrastructure is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Road King Infrastructure's expected growth come at a high price?
Raw Data
OTCPK:RKGX.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.8%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.45x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Road King Infrastructure, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Road King Infrastructure's assets?
Raw Data
OTCPK:RKGX.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$29.40
SEHK:1098 Share Price * SEHK (2019-05-20) in HKD HK$15.64
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 5,201 Publicly-Listed Companies 1.84x
OTCPK:RKGX.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1098 Share Price ÷ Book Value per Share (both in HKD)

= 15.64 ÷ 29.40

0.53x

* Primary Listing of Road King Infrastructure.

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

  • Road King Infrastructure is good value based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Road King Infrastructure'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. Road King Infrastructure has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

RKGX.F Future Performance

 How is Road King Infrastructure expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Road King Infrastructure, future earnings growth has been estimated based on fundamentals.
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
9.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Road King Infrastructure expected to grow at an attractive rate?
  • Road King Infrastructure's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Road King Infrastructure's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Road King Infrastructure's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:RKGX.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:RKGX.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.8%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
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:RKGX.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:RKGX.F Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 22,365 6,861 2,988
2018-09-30 19,839 7,638 2,728
2018-06-30 17,312 8,414 2,468
2018-03-31 16,034 8,428 2,206
2017-12-31 14,756 8,441 1,944
2017-09-30 15,205 8,428 1,630
2017-06-30 15,655 8,415 1,316
2017-03-31 16,248 7,394 1,283
2016-12-31 16,842 6,373 1,250
2016-09-30 14,657 5,774 1,030
2016-06-30 12,472 5,176 810
2016-03-31 12,491 4,366 815

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Road King Infrastructure's earnings are expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Road King Infrastructure is high growth as no revenue estimate data is available.
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:RKGX.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

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

OTCPK:RKGX.F Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 3.99
2018-09-30 3.64
2018-06-30 3.30
2018-03-31 2.96
2017-12-31 2.61
2017-09-30 2.19
2017-06-30 1.78
2017-03-31 1.73
2016-12-31 1.69
2016-09-30 1.39
2016-06-30 1.10
2016-03-31 1.10

*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 Road King Infrastructure will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Road King Infrastructure'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.
Road King Infrastructure 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.

RKGX.F Past Performance

  How has Road King Infrastructure 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 Road King Infrastructure'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.
  • Road King Infrastructure has delivered over 20% year on year earnings growth in the past 5 years.
  • Road King Infrastructure's 1-year earnings growth exceeds its 5-year average (53.7% vs 25.6%)
  • Road King Infrastructure's earnings growth has exceeded the US Real Estate industry average in the past year (53.7% vs -15.8%).
Earnings and Revenue History
Road King Infrastructure'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 Road King Infrastructure Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RKGX.F 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 22,365.22 2,988.24 1,578.80
2018-09-30 19,838.51 2,728.09 1,464.66
2018-06-30 17,311.79 2,467.95 1,350.53
2018-03-31 16,033.78 2,205.83 1,313.72
2017-12-31 14,755.77 1,943.70 1,276.92
2017-09-30 15,205.30 1,629.67 1,289.94
2017-06-30 15,654.84 1,315.63 1,302.96
2017-03-31 16,248.21 1,282.85 1,217.03
2016-12-31 16,841.59 1,250.08 1,131.10
2016-09-30 14,656.98 1,030.17 1,034.28
2016-06-30 12,472.37 810.27 937.45
2016-03-31 12,491.01 815.14 911.94
2015-12-31 12,509.65 820.01 886.42
2015-09-30 12,953.78 927.51 943.61
2015-06-30 13,397.92 1,035.02 1,000.79
2015-03-31 13,064.01 1,020.02 960.78
2014-12-31 12,730.10 1,005.02 920.76
2014-09-30 12,626.80 974.72 886.33
2014-06-30 12,523.49 944.42 851.90
2014-03-31 11,989.77 973.02 887.39
2013-12-31 11,456.05 1,001.62 922.87
2013-09-30 10,566.84 923.47 923.29
2013-06-30 9,677.64 845.32 923.71
2013-03-31 9,510.88 831.75 879.95
2012-12-31 9,344.13 818.18 836.20
2012-09-30 7,806.69 732.53 772.80
2012-06-30 6,269.24 646.88 709.41

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

RKGX.F Health

 How is Road King Infrastructure'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 Road King Infrastructure's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Road King Infrastructure is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Road King Infrastructure's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Road King Infrastructure'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 2.5x 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 Road King Infrastructure Company Filings, last reported 4 months ago.

OTCPK:RKGX.F Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 24,767.44 21,892.35 11,793.24
2018-09-30 24,767.44 21,892.35 11,793.24
2018-06-30 21,701.29 22,131.08 9,976.12
2018-03-31 21,701.29 22,131.08 9,976.12
2017-12-31 21,614.43 21,172.78 8,552.22
2017-09-30 21,614.43 21,172.78 8,552.22
2017-06-30 18,970.20 19,503.61 13,553.68
2017-03-31 18,970.20 19,503.61 13,553.68
2016-12-31 14,232.63 18,576.65 8,048.82
2016-09-30 14,232.63 18,576.65 8,048.82
2016-06-30 13,829.21 15,738.32 6,221.36
2016-03-31 13,829.21 15,738.32 6,221.36
2015-12-31 13,975.87 14,273.82 3,071.72
2015-09-30 13,975.87 14,273.82 3,071.72
2015-06-30 13,997.93 15,999.27 4,231.28
2015-03-31 13,997.93 15,999.27 4,231.28
2014-12-31 14,052.55 15,213.64 3,724.19
2014-09-30 14,052.55 15,213.64 3,724.19
2014-06-30 13,509.97 15,055.60 4,217.35
2014-03-31 13,509.97 15,055.60 4,217.35
2013-12-31 13,363.25 14,092.09 6,724.00
2013-09-30 13,363.25 14,092.09 6,724.00
2013-06-30 12,529.44 12,167.00 6,279.77
2013-03-31 12,529.44 12,167.00 6,279.77
2012-12-31 12,222.87 11,780.90 5,168.44
2012-09-30 12,222.87 11,780.90 5,168.44
2012-06-30 11,533.31 9,961.23 3,968.53
  • Road King Infrastructure's level of debt (88.4%) 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 (105.5% vs 88.4% today).
  • Debt is well covered by operating cash flow (31.3%, greater than 20% of total debt).
  • Road King Infrastructure earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Road King Infrastructure'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. Road King Infrastructure has a total score of 5/6, 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.

RKGX.F Dividends

 What is Road King Infrastructure'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
7.54%
Current annual income from Road King Infrastructure dividends.
If you bought $2,000 of Road King Infrastructure shares you are expected to receive $151 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?
  • Road King Infrastructure's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Road King Infrastructure's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
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:RKGX.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 0 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 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

OTCPK:RKGX.F Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-03 1.180 6.709
2019-03-19 1.180 6.699
2018-03-28 0.930 6.643
2018-03-08 0.930 5.708
2017-08-18 0.700 5.332
2017-04-06 0.680 6.431
2017-03-13 0.680 7.596
2016-03-29 0.480 7.328
2016-03-18 0.480 7.698
2015-03-30 0.580 8.436
2015-03-12 0.580 8.322
2014-04-02 0.580 8.446
2014-03-07 0.580 8.115
2013-03-01 0.460 6.244
2012-02-27 0.460 8.443
2011-08-16 0.450 10.006
2011-03-17 0.430 6.913
2010-08-12 0.500 7.193
2010-03-26 0.600 9.596

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

  • Road King Infrastructure has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Road King Infrastructure only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Road King Infrastructure's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x 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 Road King Infrastructure'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 Road King Infrastructure afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Road King Infrastructure has a total score of 3/6, see the detailed checks below.


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

RKGX.F Management

 What is the CEO of Road King Infrastructure'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
Yuk Bing Ko
COMPENSATION HK$33,964,000
AGE 62
CEO Bio

Mr. Yuk Bing Ko serves as the Chief Executive Officer and Managing Director of Road King Infrastructure Limited. Mr. Ko joined Road King Infrastructure Limited in early 1995. He serves as an Executive Director of Road King Infrastructure Finance (2012) Ltd. Mr. Ko joined RKI Overseas Finance 2017 (A) Limited in 1995. He has an extensive experience in infrastructure development in Hong Kong and the PRC. He has over 27 years of experience in business development and operation in the PRC. He serves as Executive Deputy Chairman of Road King Infrastructure Limited. He serves as a Director at RKI Overseas Finance 2017 (A) Limited. He serves as a Director of RKP Overseas Finance 2016 (A) Limited. He is a Chartered Engineer and is a fellow member of The Institution of Civil Engineers, UK, The Institution of Structural Engineers, UK and The Hong Kong Institution of Engineers. Mr. Ko holds a Master of Science degree in Engineering.

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

Derek Zen

TITLE
Co-Chairman of the Board
COMPENSATION
HK$12M
AGE
65

William Zen

TITLE
Co-Chairman of the Board
COMPENSATION
HK$39M
AGE
70

Yuk Bing Ko

TITLE
Deputy Chairman
COMPENSATION
HK$34M
AGE
62

Keter Fong

TITLE
Finance Director
COMPENSATION
HK$13M
AGE
55

Fun Ng

TITLE
Senior Vice President
AGE
45

Kennedy Lee

TITLE
Senior Vice President
AGE
52

Hayley Zen

TITLE
Executive Director of Investment & Asset Management Division
AGE
43

Hao Wang

TITLE
Deputy Chief Executive Officer of Property Division
AGE
47
TENURE
12.3 yrs

Daniel Luk

TITLE
Senior Vice President
AGE
47

Da Peng Gao

TITLE
Senior Vice President
AGE
40
Board of Directors Tenure

Average tenure and age of the Road King Infrastructure board of directors in years:

4.6
Average Tenure
64.5
Average Age
  • The tenure for the Road King Infrastructure board of directors is about average.
Board of Directors

William Zen

TITLE
Co-Chairman of the Board
COMPENSATION
HK$39M
AGE
70
TENURE
2 yrs

Yuk Bing Ko

TITLE
Deputy Chairman
COMPENSATION
HK$34M
AGE
62

Keter Fong

TITLE
Finance Director
COMPENSATION
HK$13M
AGE
55
TENURE
18.8 yrs

Sai Yung Lau

TITLE
Independent Non-Executive Director
COMPENSATION
HK$569K
AGE
70
TENURE
14.8 yrs

Derek Zen

TITLE
Co-Chairman of the Board
COMPENSATION
HK$12M
AGE
65
TENURE
2 yrs

Raymond Tse

TITLE
Independent Non-Executive Director
COMPENSATION
HK$470K
AGE
67
TENURE
6.6 yrs

Albert Ho

TITLE
Senior Vice President of the Group for Design Centre
AGE
64

Wai Ho Wong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$477K
AGE
69
TENURE
5 yrs

Yongliang Zhang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$323K
AGE
50
TENURE
4.3 yrs

Yong Mou

TITLE
Non-Executive Director
COMPENSATION
HK$323K
AGE
55
TENURE
3.4 yrs
Who owns this company?
Recent Insider Trading
  • Road King Infrastructure insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. Apr 19 Sell Chee On Tse Individual 09. Apr 19 09. Apr 19 -40,000 $2.30 $-91,842
10. Apr 19 Sell Sai Yung Lau Individual 09. Apr 19 09. Apr 19 -143,000 $2.30 $-329,048
08. Apr 19 Sell Chee On Tse Individual 04. Apr 19 04. Apr 19 -20,000 $2.21 $-44,264
04. Apr 19 Sell Chee On Tse Individual 03. Apr 19 03. Apr 19 -20,000 $2.28 $-45,526
29. Mar 19 Sell Chee On Tse Individual 27. Mar 19 27. Mar 19 -20,000 $2.36 $-47,283
31. Dec 18 Buy Wai Kee Holdings Limited Company 28. Dec 18 28. Dec 18 161,000 $1.79 $287,766
28. Dec 18 Buy Wai Kee Holdings Limited Company 27. Dec 18 27. Dec 18 165,000 $1.76 $291,103
27. Dec 18 Buy Wai Kee Holdings Limited Company 24. Dec 18 24. Dec 18 47,000 $1.72 $80,972
24. Dec 18 Buy Wai Kee Holdings Limited Company 21. Dec 18 21. Dec 18 217,000 $1.73 $375,956
20. Dec 18 Buy Wai Kee Holdings Limited Company 19. Dec 18 19. Dec 18 455,000 $1.77 $804,719
21. Dec 18 Buy Wai Kee Holdings Limited Company 20. Dec 18 20. Dec 18 197,000 $1.76 $347,454
19. Dec 18 Buy Wai Kee Holdings Limited Company 18. Dec 18 18. Dec 18 275,000 $1.78 $488,597
17. Dec 18 Buy Wai Kee Holdings Limited Company 14. Dec 18 14. Dec 18 32,000 $1.75 $56,017
18. Dec 18 Buy Wai Kee Holdings Limited Company 17. Dec 18 17. Dec 18 190,000 $1.78 $338,256
17. Dec 18 Buy Wai Kee Holdings Limited Company 12. Dec 18 12. Dec 18 211,000 $1.72 $363,334
14. Dec 18 Buy Wai Kee Holdings Limited Company 13. Dec 18 13. Dec 18 117,000 $1.75 $204,243
12. Dec 18 Buy Wai Kee Holdings Limited Company 11. Dec 18 11. Dec 18 202,000 $1.71 $345,328
11. Dec 18 Buy Wai Kee Holdings Limited Company 10. Dec 18 10. Dec 18 127,000 $1.70 $216,452
10. Dec 18 Buy Wai Kee Holdings Limited Company 07. Dec 18 07. Dec 18 379,000 $1.71 $649,567
07. Dec 18 Buy Wai Kee Holdings Limited Company 06. Dec 18 06. Dec 18 223,000 $1.69 $377,128
06. Dec 18 Buy Wai Kee Holdings Limited Company 05. Dec 18 05. Dec 18 62,000 $1.71 $105,980
04. Dec 18 Buy Wai Kee Holdings Limited Company 03. Dec 18 03. Dec 18 227,000 $1.72 $391,072
05. Dec 18 Buy Wai Kee Holdings Limited Company 04. Dec 18 04. Dec 18 107,000 $1.73 $184,675
03. Dec 18 Buy Wai Kee Holdings Limited Company 30. Nov 18 30. Nov 18 212,000 $1.69 $358,383
30. Nov 18 Buy Wai Kee Holdings Limited Company 29. Nov 18 29. Nov 18 143,000 $1.65 $235,818
29. Nov 18 Buy Wai Kee Holdings Limited Company 28. Nov 18 28. Nov 18 78,000 $1.63 $127,070
28. Nov 18 Buy Wai Kee Holdings Limited Company 27. Nov 18 27. Nov 18 110,000 $1.61 $177,146
27. Nov 18 Buy Wai Kee Holdings Limited Company 26. Nov 18 26. Nov 18 63,000 $1.61 $101,482
15. Nov 18 Buy Wei Peu Zen Individual 14. Nov 18 14. Nov 18 31,000 $1.59 $49,432
13. Nov 18 Buy Wei Peu Zen Individual 13. Nov 18 13. Nov 18 42,000 $1.57 $65,979
13. Nov 18 Buy Wei Peu Zen Individual 12. Nov 18 12. Nov 18 46,000 $1.57 $72,008
12. Nov 18 Buy Wei Peu Zen Individual 09. Nov 18 09. Nov 18 86,000 $1.58 $135,734
09. Nov 18 Buy Wei Peu Zen Individual 08. Nov 18 08. Nov 18 52,000 $1.60 $83,368
08. Nov 18 Buy Wei Peu Zen Individual 07. Nov 18 07. Nov 18 76,000 $1.60 $121,389
07. Nov 18 Buy Wei Peu Zen Individual 06. Nov 18 06. Nov 18 156,000 $1.59 $248,047
06. Nov 18 Buy Wei Peu Zen Individual 05. Nov 18 05. Nov 18 143,000 $1.56 $222,823
05. Nov 18 Buy Wei Peu Zen Individual 02. Nov 18 02. Nov 18 48,000 $1.61 $77,216
01. Nov 18 Buy Wei Peu Zen Individual 31. Oct 18 31. Oct 18 82,000 $1.53 $125,415
02. Nov 18 Buy Wei Peu Zen Individual 01. Nov 18 01. Nov 18 104,000 $1.58 $164,159
31. Oct 18 Buy Wei Peu Zen Individual 30. Oct 18 30. Oct 18 1,000 $1.49 $1,492
30. Oct 18 Buy Wei Peu Zen Individual 29. Oct 18 29. Oct 18 69,000 $1.45 $100,003
29. Oct 18 Buy Wei Peu Zen Individual 26. Oct 18 26. Oct 18 47,000 $1.49 $70,187
26. Oct 18 Buy Wei Peu Zen Individual 25. Oct 18 25. Oct 18 17,000 $1.49 $25,311
25. Oct 18 Buy Wei Peu Zen Individual 24. Oct 18 24. Oct 18 63,000 $1.52 $95,632
24. Oct 18 Buy Wei Peu Zen Individual 23. Oct 18 23. Oct 18 59,000 $1.54 $90,969
23. Oct 18 Buy Wei Peu Zen Individual 22. Oct 18 22. Oct 18 58,000 $1.57 $90,857
22. Oct 18 Buy Wei Peu Zen Individual 19. Oct 18 19. Oct 18 462,000 $1.53 $707,344
19. Oct 18 Buy Wei Peu Zen Individual 18. Oct 18 18. Oct 18 358,000 $1.51 $539,295
18. Oct 18 Buy Wei Peu Zen Individual 16. Oct 18 16. Oct 18 76,000 $1.54 $117,201
16. Oct 18 Buy Wei Peu Zen Individual 15. Oct 18 15. Oct 18 84,000 $1.56 $131,444
15. Oct 18 Buy Wei Peu Zen Individual 11. Oct 18 11. Oct 18 495,000 $1.55 $767,647
15. Oct 18 Buy Wei Peu Zen Individual 12. Oct 18 12. Oct 18 317,000 $1.57 $498,104
11. Oct 18 Buy Wei Peu Zen Individual 10. Oct 18 10. Oct 18 28,000 $1.62 $45,358
08. Oct 18 Buy Wei Peu Zen Individual 05. Oct 18 05. Oct 18 21,000 $1.67 $35,154
05. Oct 18 Buy Wei Peu Zen Individual 04. Oct 18 04. Oct 18 179,000 $1.69 $303,309
04. Oct 18 Buy Wei Peu Zen Individual 03. Oct 18 03. Oct 18 90,000 $1.71 $154,036
03. Oct 18 Buy Wei Peu Zen Individual 02. Oct 18 02. Oct 18 118,000 $1.69 $199,783
02. Oct 18 Buy Wei Peu Zen Individual 28. Sep 18 28. Sep 18 95,000 $1.70 $161,678
28. Sep 18 Buy Wei Peu Zen Individual 27. Sep 18 27. Sep 18 261,000 $1.70 $444,945
27. Sep 18 Buy Wei Peu Zen Individual 26. Sep 18 26. Sep 18 120,000 $1.69 $202,346
27. Sep 18 Buy Wei Peu Zen Individual 24. Sep 18 24. Sep 18 112,000 $1.71 $191,334
26. Sep 18 Buy Wei Peu Zen Individual 21. Sep 18 21. Sep 18 4,000 $1.72 $6,867
13. Jul 18 Buy Wai Kee Holdings Limited Company 12. Jul 18 12. Jul 18 275,000 $1.77 $487,474
16. Jul 18 Buy Wai Kee Holdings Limited Company 13. Jul 18 13. Jul 18 235,000 $1.78 $418,115
12. Jul 18 Buy Wai Kee Holdings Limited Company 11. Jul 18 11. Jul 18 402,000 $1.74 $698,251
11. Jul 18 Buy Wai Kee Holdings Limited Company 10. Jul 18 10. Jul 18 341,000 $1.74 $593,275
10. Jul 18 Buy Wai Kee Holdings Limited Company 09. Jul 18 09. Jul 18 342,000 $1.71 $584,683
X
Management checks
We assess Road King Infrastructure'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. Road King Infrastructure 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.

RKGX.F News

Simply Wall St News

RKGX.F Company Info

Description

Road King Infrastructure Limited, an investment holding company, invests in, develops, operates, and manages property projects and toll roads in the People’s Republic of China. It operates through Property Development and Investment, Toll Road, and Investment and Asset Management segments. The company is involved in the development, rental, and sale of residential and commercial properties. It also engages in the property funds, cultural attractions and tourism, and indoor entertainment businesses. In addition, it provides financial and management services. Further, the company invests in and operates a toll road portfolio of 5 expressways spanning approximately 340 kilometers. As of December 31, 2018, it had a land reserve of approximately 7,880,000 square meters located in Mainland China and 120,000 square meters in Hong Kong. The company was founded in 1994 and is based in Tsimshatsui, Hong Kong.

Details
Name: Road King Infrastructure Limited
RKGX.F
Exchange: OTCPK
Founded: 1994
HK$1,493,107,393
749,336,566
Website: http://www.roadking.com.hk
Address: Road King Infrastructure Limited
Tower 6,
Suite 501, 5th Floor,
Tsimshatsui,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1098 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 11. Jul 1996
OTCPK RKGX.F Ordinary Shares Pink Sheets LLC US USD 11. Jul 1996
SZSC 1098 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 11. Jul 1996
Number of employees
Current staff
Staff numbers
4,158
Road King Infrastructure employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 23:51
End of day share price update: 2019/05/20 00:00
Last earnings filing: 2019/04/03
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.