Sasfin Holdings
Market Cap
R450.7m
Last Updated
2020/05/31 18:37 UTC
Data Sources
Company Financials
Executive Summary
Sasfin Holdings Limited operates as a bank controlling company that provides various financial products and services in South Africa and Hong Kong.
Rewards
Risk Analysis
Snowflake Analysis
Proven track record and fair value.
Share Price & News
How has Sasfin Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SFN's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-27.2%
SFN
5.8%
ZA Banks
-0.7%
ZA Market
1 Year Return
-57.6%
SFN
-48.1%
ZA Banks
-23.8%
ZA Market
Return vs Industry: SFN underperformed the ZA Banks industry which returned -47.8% over the past year.
Return vs Market: SFN underperformed the ZA Market which returned -23.6% over the past year.
Shareholder returns
| SFN | Industry | Market | |
|---|---|---|---|
| 7 Day | -27.2% | 5.8% | -0.7% |
| 30 Day | -33.3% | -2.5% | -0.6% |
| 90 Day | -49.1% | -34.6% | -8.1% |
| 1 Year | -55.8%-57.6% | -44.3%-48.1% | -13.0%-23.8% |
| 3 Year | -66.7%-70.7% | -18.3%-31.3% | 0.3%-18.8% |
| 5 Year | -69.8%-75.7% | -10.1%-32.7% | 9.9%-17.5% |
Price Volatility Vs. Market
How volatile is Sasfin Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 weeks ago | Simply Wall St
Is Sasfin Holdings Limited (JSE:SFN) An Attractive Dividend Stock?2 months ago | Simply Wall St
Did You Manage To Avoid Sasfin Holdings's (JSE:SFN) Painful 57% Share Price Drop?4 months ago | Simply Wall St
Here's What You Should Know About Sasfin Holdings Limited's (JSE:SFN) 3.4% Dividend YieldValuation
Is Sasfin Holdings undervalued compared to its fair value and its price relative to the market?
2.96x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: SFN (ZAR14) is trading above our estimate of fair value (ZAR0.12)
Significantly Below Fair Value: SFN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: SFN is good value based on its PE Ratio (3x) compared to the Banks industry average (4.4x).
PE vs Market: SFN is good value based on its PE Ratio (3x) compared to the ZA market (8x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate SFN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: SFN is good value based on its PB Ratio (0.3x) compared to the ZA Banks industry average (0.6x).
Next Steps
Future Growth
How is Sasfin Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
10.9%
Forecasted Banks industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Sasfin Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Next Steps
- Examine whether Sasfin Holdings is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Explore growth companies in the Banks industry.
Past Performance
How has Sasfin Holdings performed over the past 5 years?
-7.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SFN has high quality earnings.
Growing Profit Margin: SFN's current net profit margins (13%) are higher than last year (12.7%).
Past Earnings Growth Analysis
Earnings Trend: SFN's earnings have declined by -7.7% per year over the past 5 years.
Accelerating Growth: SFN's earnings growth over the past year (6.2%) exceeds its 5-year average (-7.7% per year).
Earnings vs Industry: SFN earnings growth over the past year (6.2%) exceeded the Banks industry -1.9%.
Return on Equity
High ROE: SFN's Return on Equity (9.1%) is considered low.
Next Steps
Financial Health
How is Sasfin Holdings's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: SFN's Assets to Equity ratio (7.9x) is low.
Allowance for Bad Loans: SFN has a low allowance for bad loans (59%).
Low Risk Liabilities: 61% of SFN's liabilities are made up of primarily higher risk sources of funding.
Loan Level: SFN has an appropriate level of Loans to Assets ratio (50%).
Low Risk Deposits: SFN's Loans to Deposits ratio (147%) is high.
Level of Bad Loans: SFN has a high level of bad loans (9.5%).
Next Steps
Dividend
What is Sasfin Holdings's current dividend yield, its reliability and sustainability?
7.05%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SFN's dividend (7.05%) is higher than the bottom 25% of dividend payers in the ZA market (4.59%).
High Dividend: SFN's dividend (7.05%) is low compared to the top 25% of dividend payers in the ZA market (12.95%).
Stability and Growth of Payments
Stable Dividend: SFN's dividend payments have been volatile in the past 10 years.
Growing Dividend: SFN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (20.9%), SFN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.3yrs
Average management tenure
CEO
Michael E. Sassoon (37yo)
2.33yrs
Tenure
R4,643,639
Compensation
Mr. Michael E. E. Sassoon has been the Chief Executive Officer of Sasfin Holdings Limited since January 1, 2018 and its Executive Director since October 23, 2015. Mr. Sassoon is Co-Owner of Sassoon Childre ...
CEO Compensation Analysis
Compensation vs Market: Michael E.'s total compensation ($USD263.15K) is about average for companies of similar size in the ZA market ($USD282.21K).
Compensation vs Earnings: Michael E.'s compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 2.33yrs | R4.64m | no data | |
| Group Financial Director & Executive Director | 2.17yrs | R2.82m | no data | |
| Chief Information Officer | no data | R3.02m | no data | |
| Head of Legal | no data | R2.83m | no data | |
| Head of Asset Finance | 6.58yrs | R3.54m | no data | |
| Chief Risk Officer | no data | R2.19m | no data | |
| Chief Executive Officer of Sasfin Wealth | 2.58yrs | R3.43m | no data | |
| Chief Operating Officer of Banking Pillar | no data | R3.66m | no data | |
| Head of Capital Pillar | 2yrs | R3.25m | no data | |
| Head of Compliance | no data | no data | no data |
2.3yrs
Average Tenure
51.5yo
Average Age
Experienced Management: SFN's management team is considered experienced (2.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 2.33yrs | R4.64m | no data | |
| Group Financial Director & Executive Director | 2.17yrs | R2.82m | no data | |
| Non-Executive Director | 0.33yr | R4.45m | no data | |
| Independent Non-Executive Director | 0.83yr | no data | no data | |
| Independent & Non-Executive Chairman | 6.42yrs | R996.20k | no data | |
| Lead Independent Non-Executive Director | 0.42yr | R631.64k | no data | |
| Non-Independent Non-Executive Director | 2.17yrs | no data | no data | |
| Independent Non Executive Director | 10.17yrs | R866.91k | no data | |
| Independent Non-Executive Director | 0.75yr | no data | no data | |
| Independent Non-Executive Director | 0.42yr | no data | no data |
1.5yrs
Average Tenure
59yo
Average Age
Experienced Board: SFN's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.
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
Sasfin Holdings Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Sasfin Holdings Limited
- Ticker: SFN
- Exchange: JSE
- Founded: 1951
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: R450.714m
- Shares outstanding: 32.19m
- Website: https://www.sasfin.com
Number of Employees
Location
- Sasfin Holdings Limited
- 29 Scott Street
- Waverley
- Johannesburg
- Gauteng
- 2090
- South Africa
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SFN | JSE (The Johannesburg Securities Exchange) | Yes | Ordinary Shares | ZA | ZAR | Sep 1992 |
| SFNP | JSE (The Johannesburg Securities Exchange) | PFD ZAR0.01 | ZA | ZAR | Nov 2004 |
Biography
Sasfin Holdings Limited operates as a bank controlling company that provides various financial products and services in South Africa and Hong Kong. It operates through three segments: Banking, Wealth, and Capital. The Banking segment engages in the business banking, transactional banking, and treasury businesses. Its services include transactional banking, digital banking platform, direct feed integration, treasury, forex, trade finance, digital capital market, debtor finance, and equipment finance, as well as investment, and business and personal accounts. The Wealth segment offers online investment, asset management, portfolio management and stockbroking, asset consulting, healthcare consulting, wealth advisory, and fixed income products and services. The Capital segment offers corporate finance, private equity, property equity, short-term insurance, cyber insurance, trade, incentive, and logistics services. The company serves entrepreneurs, corporates, institutions, high-net-worth individuals, and business and wealth clients. Sasfin Holdings Limited was founded in 1951 and is headquartered in Johannesburg, South Africa.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/05/31 18:37 |
| End of Day Share Price | 2020/05/29 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/06/30 |
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.