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SM Prime Holdings

OTCPK:SPHX.F
Snowflake Description

Solid track record second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SPHX.F
OTCPK
PHP1,121B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

SM Prime Holdings, Inc., together with its subsidiaries, develops, conducts, operates, and maintains shopping center spaces in the Philippines, China, and Southeast Asia. The last earnings update was 18 days ago. More info.


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SPHX.F Share Price and Events
7 Day Returns
0%
OTCPK:SPHX.F
-2.2%
US Real Estate
-2.1%
US Market
1 Year Returns
-
OTCPK:SPHX.F
-17.2%
US Real Estate
1.3%
US Market
SPHX.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SM Prime Holdings (SPHX.F) 0% - - - - -
US Real Estate -2.2% -9.8% -12.3% -17.2% 13.7% -0.3%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • No trading data on SPHX.F.
  • No trading data on SPHX.F.
Price Volatility
SPHX.F
Industry
5yr Volatility vs Market

SPHX.F Value

 Is SM Prime Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of SM Prime Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for SM Prime Holdings.

OTCPK:SPHX.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 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.8%
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:SPHX.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.106 (1 + (1- 30%) (22.29%))
1.187
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.187 * 5.96%)
9.8%

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

The calculations below outline how an intrinsic value for SM Prime Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:SPHX.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PHP, Millions) Source Present Value
Discounted (@ 9.8%)
2019 -2,399.00 Analyst x2 -2,184.80
2020 9,980.67 Analyst x3 8,277.92
2021 26,817.33 Analyst x3 20,256.21
2022 24,074.03 Est @ -10.23% 16,560.45
2023 22,547.32 Est @ -6.34% 14,125.35
2024 21,731.06 Est @ -3.62% 12,398.41
2025 21,358.35 Est @ -1.72% 11,097.71
2026 21,276.84 Est @ -0.38% 10,068.25
2027 21,394.27 Est @ 0.55% 9,219.87
2028 21,652.14 Est @ 1.21% 8,497.85
Present value of next 10 years cash flows PHP108,317.22
OTCPK:SPHX.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PHP21,652.14 × (1 + 2.73%) ÷ (9.8% – 2.73%)
PHP314,425.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PHP314,425.24 ÷ (1 + 9.8%)10
PHP123,403.02
OTCPK:SPHX.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PHP108,317.22 + PHP123,403.02
PHP231,720.24
Equity Value per Share
(PHP)
= Total value / Shares Outstanding
= PHP231,720.24 / 28,879.23
PHP8.02
OTCPK:SPHX.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:SPHX.F represents 0.01933x of PSE:SMPH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.01933x
Value per Share
(Listing Adjusted, USD)
= Value per Share (PHP) x Listing Adjustment Factor
= PHP 8.02 x 0.01933
$0.16
Value per share (USD) From above. $0.16
Current discount Discount to share price of $0.75
= -1 x ($0.75 - $0.16) / $0.16
-383.6%

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

  • The current share price of SM Prime Holdings 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 SM Prime Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SM Prime Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:SPHX.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PHP PHP1.16
PSE:SMPH Share Price ** PSE (2019-05-10) in PHP PHP38.8
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 14.91x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

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

** Primary Listing of SM Prime Holdings.

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

= PSE:SMPH Share Price ÷ EPS (both in PHP)

= 38.8 ÷ 1.16

33.55x

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

  • SM Prime Holdings is overvalued based on earnings compared to the US Real Estate industry average.
  • SM Prime Holdings is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does SM Prime Holdings's expected growth come at a high price?
Raw Data
OTCPK:SPHX.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.55x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
12.2%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.43x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 33.55x ÷ 12.2%

2.75x

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

  • SM Prime Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on SM Prime Holdings's assets?
Raw Data
OTCPK:SPHX.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PHP PHP9.93
PSE:SMPH Share Price * PSE (2019-05-10) in PHP PHP38.8
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.5x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
OTCPK:SPHX.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= PSE:SMPH Share Price ÷ Book Value per Share (both in PHP)

= 38.8 ÷ 9.93

3.91x

* Primary Listing of SM Prime Holdings.

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

  • SM Prime Holdings is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess SM Prime Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. SM Prime Holdings has a total score of 0/6, 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.

SPHX.F Future Performance

 How is SM Prime Holdings expected to perform in the next 1 to 3 years based on estimates from 13 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
12.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SM Prime Holdings expected to grow at an attractive rate?
  • SM Prime Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • SM Prime Holdings's earnings growth is positive but not above the United States of America market average.
  • SM Prime Holdings's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:SPHX.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:SPHX.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 12.2%
OTCPK:SPHX.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 12.1%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 4%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
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:SPHX.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in PHP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:SPHX.F Future Estimates Data
Date (Data in PHP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 149,960 62,719 46,720 9
2020-12-31 132,854 53,724 41,338 13
2019-12-31 119,990 41,452 37,175 3
OTCPK:SPHX.F Past Financials Data
Date (Data in PHP Millions) Revenue Cash Flow Net Income *
2019-03-31 107,263 44,511 33,372
2018-12-31 104,081 45,964 32,173
2018-09-30 100,793 42,772 30,966
2018-06-30 97,442 57,925 29,810
2018-03-31 93,770 51,564 28,576
2017-12-31 90,922 45,777 27,574
2017-09-30 86,726 37,637 26,399
2017-06-30 83,835 38,254 25,603
2017-03-31 82,078 39,334 24,565
2016-12-31 79,816 31,491 23,806
2016-09-30 77,091 35,487 22,889
2016-06-30 74,778 36,599 22,237

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SM Prime Holdings's earnings are expected to grow by 12.2% yearly, however this is not considered high growth (20% yearly).
  • SM Prime Holdings's revenue is expected to grow by 12.1% 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:SPHX.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from SM Prime Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SPHX.F Future Estimates Data
Date (Data in PHP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.61 1.80 1.51 9.00
2020-12-31 1.43 1.55 1.33 13.00
2019-12-31 1.29 1.32 1.28 4.00
OTCPK:SPHX.F Past Financials Data
Date (Data in PHP Millions) EPS *
2019-03-31 1.16
2018-12-31 1.12
2018-09-30 1.07
2018-06-30 1.03
2018-03-31 0.99
2017-12-31 0.96
2017-09-30 0.92
2017-06-30 0.89
2017-03-31 0.85
2016-12-31 0.83
2016-09-30 0.79
2016-06-30 0.77

*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.
  • SM Prime Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SM Prime Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
SM Prime Holdings has a total score of 2/6, 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.

SPHX.F Past Performance

  How has SM Prime Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare SM Prime Holdings's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • SM Prime Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • SM Prime Holdings's 1-year earnings growth exceeds its 5-year average (16.8% vs 10.2%)
  • SM Prime Holdings's earnings growth has exceeded the US Real Estate industry average in the past year (16.8% vs -15.8%).
Earnings and Revenue History
SM Prime Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from SM Prime Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SPHX.F Past Revenue, Cash Flow and Net Income Data
Date (Data in PHP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 107,263.49 33,371.57 17,643.98
2018-12-31 104,080.57 32,172.89 17,378.07
2018-09-30 100,793.24 30,966.16 9,121.36
2018-06-30 97,441.77 29,809.69 12,794.77
2018-03-31 93,769.54 28,576.18 16,561.63
2017-12-31 90,921.85 27,573.87 16,124.66
2017-09-30 86,725.50 26,399.42 15,311.94
2017-06-30 83,835.47 25,602.59 15,477.87
2017-03-31 82,077.78 24,564.92 15,014.63
2016-12-31 79,816.23 23,805.71 14,714.85
2016-09-30 77,091.48 22,888.68 15,013.18
2016-06-30 74,777.56 22,237.13 11,173.83
2016-03-31 73,107.14 21,506.63 10,727.45
2015-12-31 71,511.29 28,302.09 12,525.44
2015-09-30 70,824.70 27,800.43 11,256.37
2015-06-30 69,039.31 27,247.37 11,256.37
2015-03-31 67,893.11 26,443.24 13,187.75
2014-12-31 66,240.07 18,390.35 11,672.21
2014-09-30 63,779.19 17,693.93 9,881.59
2014-06-30 62,099.95 17,302.36 12,067.88
2014-03-31 60,147.13 16,745.77 9,510.28
2013-12-31 60,143.88 16,274.82 9,444.28
2013-09-30 79,051.47 20,839.32 12,214.59
2013-06-30 73,806.11 20,048.38 11,178.53
2013-03-31 65,129.11 17,876.40 10,066.13
2012-12-31 57,215.09 16,202.78 9,059.88
2012-09-30 29,729.54 10,044.50 4,358.82
2012-06-30 28,766.50 9,707.78 4,052.52

*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.
  • SM Prime Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SM Prime Holdings used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • SM Prime Holdings has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess SM Prime Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
SM Prime Holdings 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.

SPHX.F Health

 How is SM Prime Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up SM Prime Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • SM Prime Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • SM Prime Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of SM Prime Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.5x 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 SM Prime Holdings Company Filings, last reported 1 month ago.

OTCPK:SPHX.F Past Debt and Equity Data
Date (Data in PHP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 290,273.94 249,757.06 40,287.17
2018-12-31 279,077.96 222,811.29 39,405.78
2018-09-30 270,654.93 224,430.71 47,568.21
2018-06-30 264,920.11 208,414.47 39,511.89
2018-03-31 268,509.66 201,991.57 46,331.43
2017-12-31 262,873.91 193,597.92 45,743.91
2017-09-30 252,071.68 189,868.53 40,476.72
2017-06-30 244,176.59 189,205.18 38,814.96
2017-03-31 243,849.96 170,548.02 27,937.58
2016-12-31 235,363.54 164,377.69 26,119.68
2016-09-30 227,414.95 165,162.84 27,948.79
2016-06-30 222,945.02 154,876.19 18,016.87
2016-03-31 220,825.15 150,144.85 21,891.64
2015-12-31 215,842.85 155,668.49 26,713.16
2015-09-30 210,594.78 147,714.64 22,798.12
2015-06-30 206,971.90 141,209.82 20,525.70
2015-03-31 208,668.78 132,095.11 45,061.65
2014-12-31 202,238.20 129,341.73 36,212.72
2014-09-30 180,219.78 131,752.15 36,327.43
2014-06-30 174,481.65 113,668.94 23,093.64
2014-03-31 173,742.56 105,017.59 24,004.01
2013-12-31 166,221.53 106,472.96 28,292.97
2013-09-30 75,924.59 74,072.49 19,160.35
2013-06-30 73,365.15 66,993.07 18,441.76
2013-03-31 73,761.05 60,662.88 19,525.33
2012-12-31 150,461.99 80,823.98 22,638.14
2012-09-30 67,731.90 51,612.39 10,482.60
2012-06-30 65,150.07 52,191.93 13,243.91
  • SM Prime Holdings's level of debt (86%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (60.5% vs 86% today).
  • Debt is not well covered by operating cash flow (17.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.3x coverage).
X
Financial health checks
We assess SM Prime Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. SM Prime Holdings 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.

SPHX.F Dividends

 What is SM Prime Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.9%
Current annual income from SM Prime Holdings dividends. Estimated to be 1.17% next year.
If you bought $2,000 of SM Prime Holdings shares you are expected to receive $18 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?
  • SM Prime Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • SM Prime Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
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:SPHX.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 13 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 2008 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 3.8%

Industry and Market average data is calculated daily.

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

OTCPK:SPHX.F Future Dividends Estimate Data
Date (Data in PHP) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.54 10.00
2020-12-31 0.44 13.00
2019-12-31 0.38 9.00
OTCPK:SPHX.F Past Annualized Dividends Data
Date (Data in PHP) Dividend per share (annual) Avg. Yield (%)
2019-04-23 0.350 0.883
2018-04-24 0.300 0.820
2017-04-25 0.260 0.744
2016-08-02 0.230 0.806
2016-04-12 0.230 0.906
2015-08-04 0.210 0.997
2015-04-15 0.210 1.056
2014-11-10 0.190 1.028
2014-08-11 0.190 1.115
2014-04-16 0.190 1.170
2013-11-04 0.270 1.770
2013-04-16 0.270 1.539
2012-09-06 0.232 1.434
2012-07-30 0.232 1.671
2012-03-15 0.232 1.770
2011-08-01 0.216 2.033
2011-04-19 0.216 2.300
2010-08-04 0.200 2.202
2010-03-23 0.200 2.414
2009-08-07 0.192 2.440

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of SM Prime Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess SM Prime Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can SM Prime Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SM Prime Holdings 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.

SPHX.F Management

 What is the CEO of SM Prime Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeffrey Lim
AGE 56
TENURE AS CEO 2.6 years
CEO Bio

Mr. Jeffrey C. Lim serves as the President of SM Development Corporation. Mr. Lim has been President of SM Prime Holdings Inc. since October 1, 2016. He served as Executive Vice President of SM Prime Holdings Inc. since August 3, 2006 until October 1, 2016 and its Corporate Information Officer since April 26, 2006 until October 1, 2016. He joined the SM Prime Holdings, lnc. in 1994 and has played a key role in the expansion of the SM Supermalls from 1994 to March 2012, including 4 SM Malls in China. He holds board and executive positions in various SM Prime subsidiaries. Mr. Lim served as the Chief Financial Officer of SM Prime Holdings Inc. until April 15, 2014. He served as Corporate Information Officer of SM Prime Holdings Inc., since May 2008. Previously, he served as Vice President of Finance and Administration for SM Prime Holdings Inc. from 1994 to August 2006. He also served for a multi-national company and SyCip, Gorres, Velayo& Co. Mr. Lim has been Corporate Information Officer of SM Prime Holdings Inc. since April 26, 2006. Mr. Lim has been an Executive Director of SM Prime Holdings Inc. since April 2016. He serves as a Director of SM Development Corporation. He has been an Executive Director of Concrete Aggregates Corp. since June 25, 2015. He serves as a Director of Pico de Loro Beach and Country Club. He serves as a Member of the Management Board of the Asia Pacific Real Estate Association and. a Founding Member of its Philippine Chapter. He serves as a Member of the Financial Executives Institute of the Philippines. Mr. Lim is a Certified Public Accountant and holds a Bachelor of Science degree in Accounting from the University of the East.

CEO Compensation
  • Insufficient data for Jeffrey to compare compensation growth.
  • Insufficient data for Jeffrey to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the SM Prime Holdings management team in years:

5.1
Average Tenure
56.5
Average Age
  • The average tenure for the SM Prime Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jeffrey Lim

TITLE
President & Executive Director
AGE
56
TENURE
2.6 yrs

John Ong

TITLE
CFO, Compliance Officer & Corporate Information Officer
AGE
47
TENURE
5.1 yrs

Alexander D. Pomento

TITLE
Vice President

Maria Salud

TITLE
Vice President of Corporate Communications

Annie Garcia

TITLE
President of Malls
AGE
62

Christopher Bautista

TITLE
Chief Audit Executive & VP of Internal Audit
AGE
58

Jose Mari Banzon

TITLE
Executive Vice President of Residential - Primary
AGE
57

Shirley Ong

TITLE
Executive Vice President of Residential - Leisure
AGE
56
TENURE
6.3 yrs

Luisa Angeles

TITLE
Executive Vice President of Hotels & Convention Centers
AGE
59

Marvin L. Pe

TITLE
Chief Risk Officer
AGE
39
Board of Directors Tenure

Average tenure and age of the SM Prime Holdings board of directors in years:

9.5
Average Tenure
62
Average Age
  • The tenure for the SM Prime Holdings board of directors is about average.
Board of Directors

Henry Sy

TITLE
Chairman of the Board
AGE
65
TENURE
5.1 yrs

Jeffrey Lim

TITLE
President & Executive Director
AGE
56
TENURE
3.1 yrs

Jose Cuisia

TITLE
Vice-Chairman of the Board & Lead Independent Director
AGE
73
TENURE
25.3 yrs

Hans Sy

TITLE
Director
AGE
62
TENURE
25.1 yrs

Gregorio Kilayko

TITLE
Independent Director
AGE
62
TENURE
11.1 yrs

Joselito Sibayan

TITLE
Independent Director
AGE
59
TENURE
8.1 yrs

Herbert Sy

TITLE
Non-Executive Director
AGE
61
TENURE
25.1 yrs

Elizabeth Sy

TITLE
Adviser to the Board
AGE
65
TENURE
7.1 yrs

Jorge Mendiola

TITLE
Non-Executive Director
AGE
59
TENURE
6.4 yrs

Teresita Sy-Coson

TITLE
Adviser to the Board
AGE
67
TENURE
11 yrs
Who owns this company?
Recent Insider Trading
  • SM Prime Holdings insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
07. May 19 Sell Hans Sy Individual 02. May 19 02. May 19 -4,078,100 $0.82 $-3,303,040
28. Jan 19 Sell Teresa Cecilia Reyes Individual 25. Jan 19 25. Jan 19 -100,000 $0.76 $-75,884
01. Oct 18 Buy Teresa Cecilia Reyes Individual 28. Sep 18 28. Sep 18 50,000 $0.67 $33,478
10. Sep 18 Sell Teresa Cecilia Reyes Individual 10. Sep 18 10. Sep 18 -50,000 $0.68 $-33,918
30. Aug 18 Sell Teresa Cecilia Reyes Individual 29. Aug 18 29. Aug 18 -100,000 $0.73 $-73,034
18. Jun 18 Buy Teresa Cecilia Reyes Individual 14. Jun 18 14. Jun 18 30,000 $0.67 $19,962
X
Management checks
We assess SM Prime Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. SM Prime Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

SPHX.F News

Simply Wall St News

SPHX.F Company Info

Description

SM Prime Holdings, Inc., together with its subsidiaries, develops, conducts, operates, and maintains shopping center spaces in the Philippines, China, and Southeast Asia. The company operates through four segments: Mall, Residential, Commercial, and Hotels and Convention Centers. It leases mall and food court; and sells cinema tickets, as well as offers amusement services, including bowling and ice skating. The company is also involved in the development and sale of residential properties, such as houses and leisure homes; development and leasing of office buildings, as well as the operation and management of office buildings and other land holdings; and development and management of various hotel and convention center properties. As of December 31, 2018, it had six hotels located in Tagaytay City, Batangas, Pampanga, Cebu City, Davao City, and Pasay City; four convention centers; and three trade halls. The company was founded in 1994 and is based in Pasay City, the Philippines.

Details
Name: SM Prime Holdings, Inc.
SPHX.F
Exchange: OTCPK
Founded: 1994
PHP21,486,369,889
28,879,231,694
Website: http://www.smprime.com
Address: SM Prime Holdings, Inc.
Mall of Asia Arena Annex Building,
10th Floor,
Pasay City,
1300,
Philippines
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
PSE SMPH Common Shares Philippines Stock Exchange PH PHP 13. Jul 1994
OTCPK SPHX.F Common Shares Pink Sheets LLC US USD 13. Jul 1994
Number of employees
Current staff
Staff numbers
11,461
SM Prime Holdings employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 23:56
End of day share price update: 2019/05/10 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
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.