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Wheelock

OTCPK:WHLK.F
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WHLK.F
OTCPK
HK$110B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Wheelock and Company Limited (HKSE: 00020) is a listed property group headquartered in Hong Kong. The last earnings update was 51 days ago. More info.


Add to Portfolio Compare Print
  • Wheelock is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
WHLK.F Share Price and Events
7 Day Returns
0%
OTCPK:WHLK.F
-0.4%
US Real Estate
-1.4%
US Market
1 Year Returns
-
OTCPK:WHLK.F
-15.7%
US Real Estate
1.6%
US Market
WHLK.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Wheelock (WHLK.F) 0% -6.1% 5.1% - 71.7% 68.4%
US Real Estate -0.4% -8.6% -11.1% -15.7% 14.9% 0.8%
US Market -1.4% -3.9% 0.2% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • No trading data on WHLK.F.
  • No trading data on WHLK.F.
Price Volatility
WHLK.F
Industry
5yr Volatility vs Market

WHLK.F Value

 Is Wheelock 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 Wheelock 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 Wheelock.

OTCPK:WHLK.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 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14%
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:WHLK.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))
= 1.111 (1 + (1- 25%) (111.7%))
1.698
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.7
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.698 * 6.65%)
14.02%

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

The calculations below outline how an intrinsic value for Wheelock 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:WHLK.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 14.02%)
2019 4,915.00 Analyst x1 4,310.57
2020 21,367.50 Analyst x2 16,435.26
2021 24,400.81 Est @ 14.2% 16,460.33
2022 27,025.40 Est @ 10.76% 15,988.88
2023 29,281.56 Est @ 8.35% 15,193.28
2024 31,232.54 Est @ 6.66% 14,212.68
2025 32,945.01 Est @ 5.48% 13,148.30
2026 34,479.29 Est @ 4.66% 12,068.40
2027 35,885.68 Est @ 4.08% 11,016.00
2028 37,204.22 Est @ 3.67% 10,016.28
Present value of next 10 years cash flows HK$128,849.99
OTCPK:WHLK.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$37,204.22 × (1 + 2.73%) ÷ (14.02% – 2.73%)
HK$338,469.48
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$338,469.48 ÷ (1 + 14.02%)10
HK$91,124.23
OTCPK:WHLK.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$128,849.99 + HK$91,124.23
HK$219,974.22
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$219,974.22 / 2,048.55
HK$107.38
OTCPK:WHLK.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:WHLK.F represents 0.13098x of SEHK:20
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13098x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 107.38 x 0.13098
$14.06
Value per share (USD) From above. $14.06
Current discount Discount to share price of $7.04
= -1 x ($7.04 - $14.06) / $14.06
49.9%

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

Current Discount
Amount off the current price Wheelock is available for.
Intrinsic value
50%
Share price is $7.04 vs Future cash flow value of $14.06
Current Discount Checks
For Wheelock to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Wheelock's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Wheelock'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 Wheelock's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Wheelock's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:WHLK.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$8.43
SEHK:20 Share Price ** SEHK (2019-05-08) in HKD HK$53.75
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.15x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.44x

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

** Primary Listing of Wheelock.

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

= SEHK:20 Share Price ÷ EPS (both in HKD)

= 53.75 ÷ 8.43

6.38x

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

  • Wheelock is good value based on earnings compared to the US Real Estate industry average.
  • Wheelock is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Wheelock's expected growth come at a high price?
Raw Data
OTCPK:WHLK.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
-2.5%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 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.38x ÷ -2.5%

-2.55x

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

  • Wheelock 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 Wheelock's assets?
Raw Data
OTCPK:WHLK.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$122.60
SEHK:20 Share Price * SEHK (2019-05-08) in HKD HK$53.75
United States of America Real Estate Industry PB Ratio Median Figure of 51 Publicly-Listed Real Estate Companies 1.45x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
OTCPK:WHLK.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:20 Share Price ÷ Book Value per Share (both in HKD)

= 53.75 ÷ 122.60

0.44x

* Primary Listing of Wheelock.

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

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

WHLK.F Future Performance

 How is Wheelock expected to perform in the next 1 to 3 years based on estimates from 8 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
-2.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Wheelock expected to grow at an attractive rate?
  • Wheelock'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
  • Wheelock's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Wheelock's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:WHLK.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:WHLK.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts -2.5%
OTCPK:WHLK.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 10.9%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 3.8%
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:WHLK.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 8 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:WHLK.F Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 67,162 19,679 15,941 5
2020-12-31 57,915 27,811 15,490 8
2019-12-31 51,461 25,784 14,592 8
OTCPK:WHLK.F Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 48,490 3,582 17,239
2018-09-30 52,008 -1,457 20,085
2018-06-30 55,525 -6,496 22,931
2018-03-31 63,239 5,369 21,751
2017-12-31 70,953 17,233 20,570
2017-09-30 68,671 20,452 18,723
2017-06-30 66,388 23,670 16,875
2017-03-31 63,484 27,653 16,585
2016-12-31 60,579 31,636 16,294
2016-09-30 58,279 34,560 14,091
2016-06-30 55,979 37,484 11,888
2016-03-31 56,705 35,080 13,060

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Wheelock's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Wheelock's revenue is expected to grow by 10.9% 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:WHLK.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 8 Analyst Estimates (S&P Global) See Below

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

OTCPK:WHLK.F Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 8.25 9.60 6.62 4.00
2020-12-31 7.62 8.67 6.20 6.00
2019-12-31 7.16 7.69 5.90 6.00
OTCPK:WHLK.F Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 8.43
2018-09-30 9.82
2018-06-30 11.23
2018-03-31 10.66
2017-12-31 10.09
2017-09-30 9.19
2017-06-30 8.29
2017-03-31 8.15
2016-12-31 8.02
2016-09-30 6.93
2016-06-30 5.85
2016-03-31 6.43

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

WHLK.F Past Performance

  How has Wheelock 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 Wheelock'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.
  • Wheelock's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Wheelock's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Wheelock's 1-year earnings growth is negative, it can't be compared to the US Real Estate industry average.
Earnings and Revenue History
Wheelock'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 Wheelock Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:WHLK.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 48,490.00 17,239.00 3,249.00
2018-09-30 52,007.50 20,085.00 3,238.50
2018-06-30 55,525.00 22,931.00 3,228.00
2018-03-31 63,239.00 21,750.50 3,571.00
2017-12-31 70,953.00 20,570.00 3,914.00
2017-09-30 68,670.50 18,722.50 4,018.00
2017-06-30 66,388.00 16,875.00 4,122.00
2017-03-31 63,483.50 16,584.50 3,883.50
2016-12-31 60,579.00 16,294.00 3,645.00
2016-09-30 58,279.00 14,091.00 3,724.50
2016-06-30 55,979.00 11,888.00 3,804.00
2016-03-31 56,705.00 13,060.00 3,908.50
2015-12-31 57,431.00 14,232.00 4,013.00
2015-09-30 54,279.00 18,286.00 3,788.50
2015-06-30 51,127.00 22,340.00 3,564.00
2015-03-31 46,040.00 22,174.50 3,389.50
2014-12-31 40,953.00 22,009.00 3,215.00
2014-09-30 38,550.00 17,896.50 3,280.00
2014-06-30 36,147.00 13,784.00 3,345.00
2014-03-31 35,609.00 15,369.00 3,331.00
2013-12-31 35,071.00 16,954.00 3,317.00
2013-09-30 32,938.50 20,581.00 3,225.00
2013-06-30 30,806.00 24,208.00 3,133.00
2013-03-31 31,965.00 25,571.50 3,024.00
2012-12-31 33,124.00 26,935.00 2,915.00
2012-09-30 36,821.50 26,577.00 2,765.50
2012-06-30 40,519.00 26,219.00 2,616.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Wheelock has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Wheelock used its assets less efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Wheelock has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Wheelock'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.
Wheelock has a total score of 2/6, 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.

WHLK.F Health

 How is Wheelock'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 Wheelock's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Wheelock is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Wheelock's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Wheelock'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 1.1x 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 Wheelock Company Filings, last reported 4 months ago.

OTCPK:WHLK.F Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 389,478.00 122,987.00 28,824.00
2018-09-30 389,478.00 122,987.00 28,824.00
2018-06-30 396,288.00 126,077.00 24,542.00
2018-03-31 396,288.00 126,077.00 24,542.00
2017-12-31 387,823.00 115,351.00 56,369.00
2017-09-30 387,823.00 115,351.00 56,369.00
2017-06-30 361,254.00 85,461.00 36,776.00
2017-03-31 361,254.00 85,461.00 36,776.00
2016-12-31 349,520.00 97,200.00 43,867.00
2016-09-30 349,520.00 97,200.00 43,867.00
2016-06-30 341,664.00 99,733.00 26,664.00
2016-03-31 341,664.00 99,733.00 26,664.00
2015-12-31 340,859.00 108,731.00 27,266.00
2015-09-30 340,859.00 108,731.00 27,266.00
2015-06-30 344,686.00 117,716.00 18,582.00
2015-03-31 344,686.00 117,716.00 18,582.00
2014-12-31 339,916.00 119,968.00 21,279.00
2014-09-30 339,916.00 119,968.00 21,279.00
2014-06-30 317,042.00 126,718.00 23,757.00
2014-03-31 317,042.00 126,718.00 23,757.00
2013-12-31 311,572.00 125,090.00 29,345.00
2013-09-30 311,572.00 125,090.00 29,345.00
2013-06-30 299,403.00 119,123.00 36,900.00
2013-03-31 299,403.00 119,123.00 36,900.00
2012-12-31 285,880.00 105,385.00 30,016.00
2012-09-30 285,880.00 105,385.00 30,016.00
2012-06-30 258,551.00 95,790.00 26,094.00
  • Wheelock's level of debt (31.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (40.1% vs 31.6% today).
  • Debt is not well covered by operating cash flow (2.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 19.6x coverage).
X
Financial health checks
We assess Wheelock'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. Wheelock 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.

WHLK.F Dividends

 What is Wheelock'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
2.88%
Current annual income from Wheelock dividends. Estimated to be 3.26% next year.
If you bought $2,000 of Wheelock shares you are expected to receive $58 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?
  • Wheelock's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Wheelock's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
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:WHLK.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 8 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 2007 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:WHLK.F Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.88 5.00
2020-12-31 1.74 8.00
2019-12-31 1.67 7.00
OTCPK:WHLK.F Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-04-04 1.550 2.780
2019-03-12 1.550 2.764
2018-04-09 1.425 2.836
2018-03-12 1.425 2.423
2017-04-03 1.300 2.244
2017-03-10 1.300 2.150
2016-04-12 1.150 2.743
2016-03-10 1.150 3.389
2015-04-29 1.068 3.028
2014-04-29 1.000 2.666
2014-03-28 1.000 3.098
2013-09-25 1.200 3.440
2013-08-29 1.200 2.936
2013-03-27 1.100 2.655
2012-08-24 0.500 1.344
2012-04-26 0.250 0.914
2012-03-22 0.250 1.021
2011-03-23 0.125 0.488
2010-03-23 0.125 0.488

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

  • Wheelock 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 Wheelock only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Wheelock's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.7x coverage).
X
Income/ dividend checks
We assess Wheelock'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 Wheelock afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Wheelock 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.

WHLK.F Management

 What is the CEO of Wheelock'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
Douglas Woo
COMPENSATION HK$23,023,000
AGE 40
TENURE AS CEO 5.8 years
CEO Bio

Chun Kuen Woo has been Chairman of Wheelock and Co. Ltd. (the “Company”) since 2014 and a Director and Managing Director since 2013. He is also Vice Chairman and managing Director of Wheelock Properties Limited (“WPL”) and a Director of certain other subsidiaries of the Company. Mr. Woo is a government-appointed Alternative Representative of Hong Kong, China to the APEC Business Advisory Council; a Non-official Member of the Development Bureau’s Land and Development Advisory Committee and a Member of the Land Sub-Committee; Chairman of the Environment and Conservation Fund; a Member of the Commission on Poverty’s Social Innovation and Entrepreneurship Development Fund Task Force; a Director and Executive Committee Member of The Real Estate Developers Association of Hong Kong (“REDA”); Chairman of the HK General Chamber of Commerce’s Real Estate & Infrastructure Committee and a Member of the Economic Policy Committee; and Patron of Project WeCan. Mr. Woo is also a Member of the Beijing Committee of the Chinese People’s Political Consultative Conference (“CPPCC”) and a Member of the All-China Youth Federation. He was appointed a Justice of the Peace in 2016. Mr. Woo holds a Bachelor degree in Architecture from Princeton University in USA and a Master of Business Administration degree (EMBA Program) from The HKUST Business School and The Kellogg School of Management of Northwestern University. He was awarded an Honorary Doctor of Humane Letters degree by Savannah College of Art and Design (Hong Kong).

CEO Compensation
  • Douglas's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Douglas's remuneration is lower than average for companies of similar size in United States of America.
Management Team

Douglas Woo

TITLE
Chairman & MD
COMPENSATION
HK$23M
AGE
40
TENURE
5.8 yrs

Stephen Ng

TITLE
Deputy Chairman
COMPENSATION
HK$51M
AGE
66

Paul Tsui

TITLE
Group CFO & Executive Director
COMPENSATION
HK$69M
AGE
71

Ricky Wong

TITLE
Executive Director
COMPENSATION
HK$16M
AGE
53

Sharon Au

TITLE
Assistant Manager

Wilson Chan

TITLE
Company Secretary
Board of Directors Tenure

Average tenure and age of the Wheelock board of directors in years:

8.3
Average Tenure
71
Average Age
  • The tenure for the Wheelock board of directors is about average.
Board of Directors

Stephen Ng

TITLE
Deputy Chairman
COMPENSATION
HK$51M
AGE
66
TENURE
24.3 yrs

Stewart Leung

TITLE
Vice Chairman
COMPENSATION
HK$18M
AGE
79
TENURE
7.3 yrs

Douglas Woo

TITLE
Chairman & MD
COMPENSATION
HK$23M
AGE
40
TENURE
5.3 yrs

Paul Tsui

TITLE
Group CFO & Executive Director
COMPENSATION
HK$69M
AGE
71
TENURE
21.3 yrs

Ricky Wong

TITLE
Executive Director
COMPENSATION
HK$16M
AGE
53
TENURE
9.3 yrs

Kenneth Ting

TITLE
Independent Non-Executive Director
COMPENSATION
HK$350K
AGE
76
TENURE
16.3 yrs

Alan Smith

TITLE
Independent Non-Executive Director
COMPENSATION
HK$350K
AGE
74
TENURE
6.8 yrs

Glenn Yee

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

Mignonne Dao

TITLE
Non-Executive Director
COMPENSATION
HK$200K
AGE
71
TENURE
6.8 yrs

Tak Hay Chau

TITLE
Independent Non-Executive Director
COMPENSATION
HK$200K
AGE
75
TENURE
6.6 yrs
Who owns this company?
Recent Insider Trading
  • Wheelock insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
11. Apr 19 Buy Kwong Ching Peter Woo Individual 08. Apr 19 08. Apr 19 240,000 $7.48 $1,796,382
10. Apr 19 Sell Kwong Wong Individual 04. Apr 19 04. Apr 19 -91,000 $7.50 $-682,275
04. Apr 19 Sell Kwong Wong Individual 01. Apr 19 01. Apr 19 -100,000 $7.38 $-737,596
02. Apr 19 Sell Kwong Wong Individual 29. Mar 19 29. Mar 19 -100,000 $7.30 $-730,355
02. Apr 19 Sell Kwong Wong Individual 28. Mar 19 28. Mar 19 -100,000 $7.24 $-723,737
29. Mar 19 Sell Kwong Wong Individual 27. Mar 19 27. Mar 19 -45,000 $7.20 $-323,929
29. Mar 19 Sell Kwong Wong Individual 26. Mar 19 26. Mar 19 -65,000 $7.20 $-467,869
27. Mar 19 Sell Kwong Wong Individual 22. Mar 19 22. Mar 19 -100,000 $7.17 $-717,468
20. Mar 19 Sell Chi-Kin Leung Individual 15. Mar 19 15. Mar 19 -50,000 $6.85 $-342,255
15. Jan 19 Sell Chi-Kin Leung Individual 10. Jan 19 10. Jan 19 -50,000 $5.98 $-298,967
09. Jan 19 Sell Chi-Kin Leung Individual 04. Jan 19 04. Jan 19 -50,000 $5.70 $-284,819
17. Dec 18 Sell Chi-Kin Leung Individual 11. Dec 18 11. Dec 18 -50,000 $5.63 $-281,723
12. Dec 18 Sell Chi-Kin Leung Individual 07. Dec 18 07. Dec 18 -50,000 $5.84 $-292,114
11. Dec 18 Sell Chi-Kin Leung Individual 06. Dec 18 06. Dec 18 -50,000 $5.70 $-285,166
27. Sep 18 Sell Chi-Kin Leung Individual 21. Sep 18 21. Sep 18 -50,000 $6.36 $-318,048
19. Sep 18 Sell Chi-Kin Leung Individual 14. Sep 18 14. Sep 18 -50,000 $6.23 $-311,740
13. Sep 18 Sell Chi-Kin Leung Individual 10. Sep 18 10. Sep 18 -50,000 $6.04 $-301,916
06. Sep 18 Sell Chi-Kin Leung Individual 03. Sep 18 03. Sep 18 -150,000 $6.29 $-943,075
08. Jun 18 Sell Kwong Wong Individual 05. Jun 18 05. Jun 18 -223,000 $7.66 $-1,708,508
X
Management checks
We assess Wheelock'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. Wheelock 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.

WHLK.F News

Simply Wall St News

WHLK.F Company Info

Description

Wheelock and Company Limited (HKSE: 00020) is a listed property group headquartered in Hong Kong. We are principally engaged in property development in Hong Kong, and in property investment and development in Singapore. Our major subsidiaries include Wharf (Holdings) Limited (HKSE: 00004), Wharf REIC Limited (HKSE: 01997), Wheelock Properties Limited and Wheelock Properties (Singapore) Limited.

Details
Name: Wheelock and Company Limited
WHLK.F
Exchange: OTCPK
Founded: 1857
HK$14,027,834,648
2,048,549,287
Website: http://www.wheelockcompany.com
Address: Wheelock and Company Limited
Wheelock House,
23rd Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 20 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK WHLK.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB WHL Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SHSC 20 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 20 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
OTCPK WHLK.Y UNSPONSORD ADR Pink Sheets LLC US USD 14. Nov 2008
Number of employees
Current staff
Staff numbers
12,800
Wheelock employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 23:57
End of day share price update: 2019/05/08 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/04/04
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.