OTCPK:CSYJ.Y

Stock Analysis Report

Executive Summary

CSE Global Limited, an investment holding company, provides integrated industrial automation, information technology, and intelligent transport solutions in the Asia Pacific, the Americas, Europe, and the Middle East.


Snowflake Analysis

Very undervalued average dividend payer.


Similar Companies

Share Price & News

How has CSE Global's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CSYJ.Y has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

CSYJ.Y

-12.1%

US IT

-10.6%

US Market


1 Year Return

16.2%

CSYJ.Y

16.7%

US IT

5.2%

US Market

Return vs Industry: CSYJ.Y underperformed the US IT industry which returned 39.9% over the past year.

Return vs Market: CSYJ.Y underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

CSYJ.YIndustryMarket
7 Day0%-12.1%-10.6%
30 Day0%-9.0%-8.5%
90 Day0%-2.0%-4.6%
1 Year21.9%16.2%17.9%16.7%7.4%5.2%
3 Year26.0%7.3%82.2%74.4%31.7%23.2%
5 Year-2.7%-24.8%119.6%100.4%56.4%39.3%

Price Volatility Vs. Market

How volatile is CSE Global's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is CSE Global undervalued compared to its fair value and its price relative to the market?

46.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CSYJ.Y ($3.37) is trading below our estimate of fair value ($6.3)

Significantly Below Fair Value: CSYJ.Y is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CSYJ.Y is good value based on its PE Ratio (13.9x) compared to the IT industry average (32x).

PE vs Market: CSYJ.Y is good value based on its PE Ratio (13.9x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: CSYJ.Y is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: CSYJ.Y is good value based on its PB Ratio (1.6x) compared to the US IT industry average (4.2x).


Next Steps

Future Growth

How is CSE Global forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

17.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CSYJ.Y's forecast earnings growth (17.9% per year) is above the savings rate (1.7%).

Earnings vs Market: CSYJ.Y's earnings (17.9% per year) are forecast to grow faster than the US market (14.3% per year).

High Growth Earnings: CSYJ.Y's earnings are forecast to grow, but not significantly.

Revenue vs Market: CSYJ.Y's revenue (12.5% per year) is forecast to grow faster than the US market (7.5% per year).

High Growth Revenue: CSYJ.Y's revenue (12.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CSYJ.Y's Return on Equity is forecast to be low in 3 years time (15.1%).


Next Steps

Past Performance

How has CSE Global performed over the past 5 years?

-28.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CSYJ.Y has high quality earnings.

Growing Profit Margin: CSYJ.Y became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: CSYJ.Y's earnings have declined by -28.5% per year over the past 5 years.

Accelerating Growth: CSYJ.Y has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: CSYJ.Y has become profitable in the last year, making it difficult to compare its past year earnings growth to the IT industry (16.2%).


Return on Equity

High ROE: CSYJ.Y's Return on Equity (11.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is CSE Global's financial position?


Financial Position Analysis

Short Term Liabilities: CSYJ.Y's short term assets (SGD232.2M) exceed its short term liabilities (SGD188.5M).

Long Term Liabilities: CSYJ.Y's short term assets (SGD232.2M) exceed its long term liabilities (SGD12.5M).


Debt to Equity History and Analysis

Debt Level: CSYJ.Y's debt to equity ratio (57.5%) is considered high.

Reducing Debt: CSYJ.Y's debt to equity ratio has increased from 20.4% to 57.5% over the past 5 years.

Debt Coverage: CSYJ.Y's debt is not well covered by operating cash flow (18.6%).

Interest Coverage: CSYJ.Y's interest payments on its debt are well covered by EBIT (23x coverage).


Balance Sheet

Inventory Level: CSYJ.Y has a high level of physical assets or inventory.

Debt Coverage by Assets: CSYJ.Y's debt is covered by short term assets (assets are 2.4x debt).


Next Steps

Dividend

What is CSE Global's current dividend yield, its reliability and sustainability?

5.00%

Current Dividend Yield


Dividend Yield vs Market

company5.0%marketbottom25%1.6%markettop25%4.1%industryaverage1.4%forecastin3Years5.2%

Current dividend yield vs market & industry

Notable Dividend: CSYJ.Y's dividend (5%) is higher than the bottom 25% of dividend payers in the US market (1.4%).

High Dividend: CSYJ.Y's dividend (5%) is in the top 25% of dividend payers in the US market (3.66%)


Stability and Growth of Payments

Stable Dividend: CSYJ.Y's dividend payments have been volatile in the past 10 years.

Growing Dividend: CSYJ.Y's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (69.6%), CSYJ.Y's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CSYJ.Y's dividends in 3 years are forecast to be well covered by earnings (47.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Boon Lim (52yo)

6.1yrs

Tenure

S$2,126,520

Compensation

Mr. Boon Kheng Lim has been the Group Managing Director and Chief Executive Officer of CSE Global Limited since November 28, 2013. Mr. Lim serves as a Managing Director at CSE Global (Asia) Limited. He ser ...


CEO Compensation Analysis

Compensation vs Market: Boon's total compensation ($USD1.57M) is above average for companies of similar size in the US market ($USD1.08M).

Compensation vs Earnings: Boon's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Boon Lim
CEO, Group MD & Executive Director6.1yrsS$2.13m1.77% SGD3.6m
Toon Foo
Chief Financial Officer5.7yrsno datano data
Leong Haur
Chief Operating Officer0yrsno datano data
Neal Oswald
Chief Operating Officer1.3yrsno datano data
Roy Rowe
Chief Executive Officer of CSE Global's Australian & New Zealand Operations8.8yrsno datano data
Donnie Smith
President & COO of CSE W-Industries of Louisiana and CEO of CSE Americas Inc1.6yrsno datano data
Lay Hong Tan
Company Secretary0.3yrsno datano data

3.6yrs

Average Tenure

52yo

Average Age

Experienced Management: CSYJ.Y's management team is considered experienced (3.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Boon Lim
CEO, Group MD & Executive Director6.1yrsS$2.13m1.77% SGD3.6m
Ming Seong Lim
Independent Chairman22.9yrsS$63.00k0.64% SGD1.3m
Boon Ann Sin
Independent Non-Executive Director17.6yrsS$49.00kno data
Kwok Lam
Independent Non-Executive Director9.6yrsS$43.00kno data
Hien Tan
Independent Non-Executive Director5.1yrsS$49.00kno data
Kong Lee
Independent Director2.8yrsS$49.00kno data
Chian Khong Tan
Independent Non-Executive Director0.8yrsno data0.0098% SGD20.3k
Mohd Abdul Bin Abdullah
Deputy Chairman1.6yrsS$17.00k0.39% SGD797.3k
Syed Bin Syed Faisal
Non-Executive Non-Independent Director1.6yrsS$22.00kno data

5.1yrs

Average Tenure

63yo

Average Age

Experienced Board: CSYJ.Y's board of directors are considered experienced (5.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

CSE Global Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CSE Global Limited
  • Ticker: CSYJ.Y
  • Exchange: OTCPK
  • Founded: 1985
  • Industry: IT Consulting and Other Services
  • Sector: Software
  • Market Cap: S$279.373m
  • Listing Market Cap: S$206.614m
  • Shares outstanding: 507.95m
  • Website: https://www.cse-global.com

Number of Employees


Location

  • CSE Global Limited
  • Building C
  • No. 01-21, 202 Bedok South Avenue 1
  • Singapore
  • 469332
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
544SGX (Singapore Exchange)YesOrdinary SharesSGSGDMar 1999
XCCDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 1999
CSYJ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 1999
CSYJ.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDFeb 2011

Biography

CSE Global Limited, an investment holding company, provides integrated industrial automation, information technology, and intelligent transport solutions in the Asia Pacific, the Americas, Europe, and the Middle East. The company offers automation solutions, including process control, safety shutdown, fire and gas detection, supervisory control and data acquisition (SCADA), wellhead and subsea control, process skid, electrical drive and high/medium voltage, electrical protection and control, real-time information, and intelligent transport systems, as well as I&E construction and safe secure solutions. It also provides environmental solutions comprising multiple hearth furnaces, fluid bed incinerators, carbon and energy recovery systems, and rotary kiln incinerators. In addition, the company offers telecommunication solutions, including construction communications, fiber optic, microwave radio, conventional and trunked radio, and public address and general alarm systems; VSAT satellite communications, telephone, local and wide area, Internet protocol based, and SCADA and telemetry networks; and CCTV, access control, and FIDS systems. Further, it provides computer network systems; computer systems integration; computer systems; e-business integration, research and development, and system integration services; safety system and automation hardware products; infrastructure engineering services; data telecommunications and marine survey certification services; and plant and environmental engineering services. Additionally, the company distributes electrical engineering equipment; designs and installs high temperature thermal process and incineration systems; and designs and develops water treatment and disposal technology for the oil and gas markets. It serves customers in the oil and gas, petrochemical, utilities, public infrastructure, environmental, and healthcare industries. The company was founded in 1985 and is headquartered in Singapore. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/30 00:38
End of Day Share Price2019/10/01 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.