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Guangdong Homa Appliances

SZSE:002668
Snowflake Description

Imperfect balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
002668
SZSE
CN¥5B
Market Cap
  1. Home
  2. CN
  3. Consumer Durables
Company description

Guangdong Homa Appliances Co., Ltd. manufactures, sells, and exports refrigerators in China and internationally. The last earnings update was 41 days ago. More info.


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  • Guangdong Homa Appliances has significant price volatility in the past 3 months.
002668 Share Price and Events
7 Day Returns
10.1%
SZSE:002668
1.8%
CN Consumer Durables
4.3%
CN Market
1 Year Returns
-23.8%
SZSE:002668
-11.3%
CN Consumer Durables
-7%
CN Market
002668 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Guangdong Homa Appliances (002668) 10.1% -4.4% -21.2% -23.8% -63% -5.6%
CN Consumer Durables 1.8% -11.8% -16.1% -11.3% 7.1% 28.8%
CN Market 4.3% -4.8% -5.1% -7% -13.6% -24.6%
1 Year Return vs Industry and Market
  • 002668 underperformed the Consumer Durables industry which returned -11.3% over the past year.
  • 002668 underperformed the Market in China which returned -7% over the past year.
Price Volatility
002668
Industry
5yr Volatility vs Market

002668 Value

 Is Guangdong Homa Appliances 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 Guangdong Homa Appliances 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 Guangdong Homa Appliances.

SZSE:002668 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 11%
Perpetual Growth Rate 10-Year CN Government Bond Rate 3.2%

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 SZSE:002668
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.937 (1 + (1- 25%) (57%))
1.226
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (1.226 * 6.33%)
10.96%

Discounted Cash Flow Calculation for SZSE:002668 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Guangdong Homa Appliances 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SZSE:002668 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.96%)
2020 287.83 Est @ 9.3% 259.40
2021 309.32 Est @ 7.47% 251.23
2022 328.46 Est @ 6.19% 240.43
2023 345.84 Est @ 5.29% 228.15
2024 361.98 Est @ 4.66% 215.20
2025 377.27 Est @ 4.22% 202.14
2026 392.05 Est @ 3.92% 189.31
2027 406.56 Est @ 3.7% 176.93
2028 421.00 Est @ 3.55% 165.11
2029 435.51 Est @ 3.45% 153.93
Present value of next 10 years cash flows CN¥2,081.00
SZSE:002668 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥435.51 × (1 + 3.2%) ÷ (10.96% – 3.2%)
CN¥5,791.82
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥5,791.82 ÷ (1 + 10.96%)10
CN¥2,047.15
SZSE:002668 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥2,081.00 + CN¥2,047.15
CN¥4,128.15
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥4,128.15 / 1,084.11
CN¥3.81
SZSE:002668 Discount to Share Price
Calculation Result
Value per share (CNY) From above. CN¥3.81
Current discount Discount to share price of CN¥5.02
= -1 x (CN¥5.02 - CN¥3.81) / CN¥3.81
-31.8%

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

  • The current share price of Guangdong Homa Appliances 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 Guangdong Homa Appliances's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Guangdong Homa Appliances's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SZSE:002668 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥0.05
SZSE:002668 Share Price ** SZSE (2020-04-09) in CNY CN¥5.02
China Consumer Durables Industry PE Ratio Median Figure of 75 Publicly-Listed Consumer Durables Companies 26.72x
China Market PE Ratio Median Figure of 3,204 Publicly-Listed Companies 33.67x

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

** Primary Listing of Guangdong Homa Appliances.

SZSE:002668 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SZSE:002668 Share Price ÷ EPS (both in CNY)

= 5.02 ÷ 0.05

100.4x

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

  • Guangdong Homa Appliances is overvalued based on earnings compared to the CN Consumer Durables industry average.
  • Guangdong Homa Appliances is overvalued based on earnings compared to the China market.
Price based on expected Growth
Does Guangdong Homa Appliances's expected growth come at a high price?
Raw Data
SZSE:002668 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 100.4x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
China Consumer Durables Industry PEG Ratio Median Figure of 43 Publicly-Listed Consumer Durables Companies 1.3x
China Market PEG Ratio Median Figure of 1,266 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Guangdong Homa Appliances, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Guangdong Homa Appliances's assets?
Raw Data
SZSE:002668 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥2.44
SZSE:002668 Share Price * SZSE (2020-04-09) in CNY CN¥5.02
China Consumer Durables Industry PB Ratio Median Figure of 87 Publicly-Listed Consumer Durables Companies 2.7x
China Market PB Ratio Median Figure of 3,693 Publicly-Listed Companies 2.35x
SZSE:002668 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SZSE:002668 Share Price ÷ Book Value per Share (both in CNY)

= 5.02 ÷ 2.44

2.06x

* Primary Listing of Guangdong Homa Appliances.

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

  • Guangdong Homa Appliances is good value based on assets compared to the CN Consumer Durables industry average.
X
Value checks
We assess Guangdong Homa Appliances'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 Consumer Durables 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 Consumer Durables industry average (and greater than 0)? (1 check)
  5. Guangdong Homa Appliances has a total score of 1/6, 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.

002668 Future Performance

 How is Guangdong Homa Appliances expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 Guangdong Homa Appliances 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
15.7%
Expected Consumer Durables industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Guangdong Homa Appliances expected to grow at an attractive rate?
  • Unable to compare Guangdong Homa Appliances's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Guangdong Homa Appliances's earnings growth to the China market average as no estimate data is available.
  • Unable to compare Guangdong Homa Appliances's revenue growth to the China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SZSE:002668 Future Growth Rates Data Sources
Data Point Source Value (per year)
China Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 15.7%
China Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 11.9%
China Market Earnings Growth Rate Market Cap Weighted Average 20.7%
China Market Revenue Growth Rate Market Cap Weighted Average 15.8%

*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
SZSE:002668 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SZSE:002668 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SZSE:002668 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 7,394 58
2019-09-30 7,482 478 -1,876
2019-06-30 7,995 -188 -1,872
2019-03-31 7,804 -1,041 -1,899
2018-12-31 7,803 -125 -1,903
2018-09-30 7,859 320 353
2018-06-30 7,533 -179 460
2018-03-31 7,411 -13 421
2017-12-31 6,964 -833 381
2017-09-30 6,259 -862 333
2017-06-30 5,842 -139 322
2017-03-31 5,189 234 311

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Guangdong Homa Appliances is high growth as no earnings estimate data is available.
  • Unable to determine if Guangdong Homa Appliances is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SZSE:002668 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Guangdong Homa Appliances Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SZSE:002668 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SZSE:002668 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 0.05
2019-09-30 -1.76
2019-06-30 -1.68
2019-03-31 -1.73
2018-12-31 -1.76
2018-09-30 0.33
2018-06-30 0.43
2018-03-31 0.40
2017-12-31 0.36
2017-09-30 0.34
2017-06-30 0.35
2017-03-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Guangdong Homa Appliances will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Guangdong Homa Appliances's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Consumer Durables companies here
  2. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Guangdong Homa Appliances'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 China market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the China 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.
Guangdong Homa Appliances has a total score of 0/6, 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.

002668 Past Performance

  How has Guangdong Homa Appliances 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 Guangdong Homa Appliances's growth in the last year to its industry (Consumer Durables).
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.
  • Guangdong Homa Appliances's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Guangdong Homa Appliances has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Guangdong Homa Appliances has become profitable in the last year making it difficult to compare the CN Consumer Durables industry average.
Earnings and Revenue History
Guangdong Homa Appliances'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 Guangdong Homa Appliances Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SZSE:002668 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 7,394.49 57.81
2019-09-30 7,481.80 -1,875.55 2,493.89 330.37
2019-06-30 7,995.20 -1,871.76 2,597.73 338.70
2019-03-31 7,804.42 -1,899.00 2,652.64 421.11
2018-12-31 7,802.88 -1,902.55 2,789.65 336.94
2018-09-30 7,859.28 353.24 1,234.43 272.04
2018-06-30 7,532.61 460.29 1,017.64 403.00
2018-03-31 7,411.43 421.04 1,041.39 248.14
2017-12-31 6,964.35 381.49 943.48 248.14
2017-09-30 6,259.44 333.39 994.86 192.98
2017-06-30 5,842.35 321.74 1,184.44
2017-03-31 5,188.63 311.22 1,172.92
2016-12-31 5,041.42 304.84 1,139.81
2016-09-30 4,886.33 336.96 1,007.13
2016-06-30 4,564.51 306.53 890.91
2016-03-31 4,918.30 280.15 907.52
2015-12-31 4,702.43 267.03 869.94
2015-09-30 4,594.59 234.45 912.29
2015-06-30 4,603.07 217.58 909.98
2015-03-31 4,376.82 192.96 848.31
2014-12-31 4,461.01 203.15 829.42
2014-09-30 4,523.61 209.05 795.85
2014-06-30 4,560.40 214.52 814.68
2014-03-31 4,392.49 202.99 753.59
2013-12-31 4,257.20 195.70 727.64
2013-09-30 4,124.19 192.49 704.36
2013-06-30 3,814.76 178.91 627.08

*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.
  • Guangdong Homa Appliances has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Guangdong Homa Appliances used its assets less efficiently than the CN Consumer Durables industry average last year based on Return on Assets.
  • Guangdong Homa Appliances's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Guangdong Homa Appliances'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 Consumer Durables 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.
Guangdong Homa Appliances has a total score of 0/6, 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.

002668 Health

 How is Guangdong Homa Appliances'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 Guangdong Homa Appliances's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Guangdong Homa Appliances is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Guangdong Homa Appliances's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Guangdong Homa Appliances'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 2.1x 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 Guangdong Homa Appliances Company Filings, last reported 3 months ago.

SZSE:002668 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,655.98 3,102.23 2,866.56
2019-09-30 2,655.98 3,102.23 2,866.56
2019-06-30 2,654.59 3,000.49 1,866.26
2019-03-31 2,448.23 3,498.98 2,729.84
2018-12-31 2,357.12 3,683.81 3,184.01
2018-09-30 3,751.03 3,689.52 2,202.90
2018-06-30 3,745.56 3,634.96 3,004.45
2018-03-31 3,604.26 3,474.93 1,890.36
2017-12-31 3,462.93 3,502.93 3,478.71
2017-09-30 3,381.73 3,317.70 1,967.94
2017-06-30 3,266.19 2,412.71 3,315.83
2017-03-31 3,943.00 2,066.47 3,931.69
2016-12-31 2,223.16 892.56 1,585.77
2016-09-30 2,133.34 564.45 1,385.08
2016-06-30 1,993.35 588.42 976.05
2016-03-31 1,857.67 611.35 903.80
2015-12-31 1,798.52 645.73 1,087.68
2015-09-30 1,671.39 77.29 835.01
2015-06-30 1,601.00 101.88 558.50
2015-03-31 1,544.85 79.11 509.23
2014-12-31 1,516.15 20.95 552.13
2014-09-30 1,483.45 30.89 486.03
2014-06-30 1,429.94 40.64 393.72
2014-03-31 1,389.92 30.60 382.24
2013-12-31 1,351.03 130.96 578.73
2013-09-30 1,312.43 20.23 504.78
2013-06-30 1,253.46 30.30 340.42
  • Guangdong Homa Appliances's level of debt (116.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (1.4% vs 116.8% today).
  • Debt is not well covered by operating cash flow (15.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Guangdong Homa Appliances'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. Guangdong Homa Appliances 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.

002668 Dividends

 What is Guangdong Homa Appliances'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%
Current annual income from Guangdong Homa Appliances dividends.
If you bought CN¥2,000 of Guangdong Homa Appliances shares you are expected to receive CN¥0 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?
  • Unable to evaluate Guangdong Homa Appliances's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Guangdong Homa Appliances's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
SZSE:002668 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
China Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 66 Stocks 2.6%
China Market Average Dividend Yield Market Cap Weighted Average of 2584 Stocks 1.9%
China Minimum Threshold Dividend Yield 10th Percentile 0.2%
China Bottom 25% Dividend Yield 25th Percentile 0.4%
China Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

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

SZSE:002668 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
SZSE:002668 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2020-02-28 0.000 0.000
2019-10-23 0.000 0.000
2019-08-26 0.000 0.000
2019-04-26 0.000 0.000
2019-02-26 0.000 0.000
2018-05-11 0.037 0.606
2017-05-05 0.053 0.424
2016-08-22 0.034 0.234
2016-04-19 0.034 0.266
2015-05-04 0.059 0.534
2014-08-21 0.048 1.061
2014-03-31 0.048 1.278
2014-02-28 0.048 1.225
2013-06-19 0.021 0.582

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

  • Unable to perform a dividend volatility check as Guangdong Homa Appliances has not reported any payouts.
  • Unable to verify if Guangdong Homa Appliances's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Guangdong Homa Appliances's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Guangdong Homa Appliances has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Guangdong Homa Appliances's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.2%) - 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 Guangdong Homa Appliances afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Guangdong Homa Appliances has a total score of 0/6, see the detailed checks below.


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

002668 Management

 What is the CEO of Guangdong Homa Appliances'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
Xiang Dong Liu
COMPENSATION CN¥0
CEO Bio

Mr. Liu Xiang Dong serves as General Manager at Guangdong Homa Appliances Co., Ltd.

CEO Compensation
  • Insufficient data for Xiang Dong to compare compensation growth.
  • Insufficient data for Xiang Dong to establish whether their remuneration is reasonable compared to companies of similar size in China.
Management Team

Xiang Dong Liu

TITLE
General Manager

Shiqiong He

TITLE
Deputy General Manager and Secretary of the Board of Directors
COMPENSATION
CN¥108K
AGE
49

Zhang Jia

TITLE
Deputy General Manager
COMPENSATION
CN¥720K
AGE
39

Zhang Zhe

TITLE
Deputy General Manager
COMPENSATION
CN¥525K
AGE
40

Bao Yu Wei

TITLE
Deputy General Manager
COMPENSATION
CN¥1M
AGE
40

Jin Min Feng

TITLE
Director & Deputy General Manager
COMPENSATION
CN¥720K

Jie Quan Xiu

TITLE
Chief Financial Officer
AGE
50

Bob Yu

TITLE
Vice President of Human Resource & Domestic Business

Cheng Liu Zhan

TITLE
Deputy General Manager and Director
AGE
39
Board of Directors

Shier Cai

TITLE
Chairman of the Board
COMPENSATION
CN¥837K

David Wang

TITLE
Deputy Chairman of the Board

Jin Min Feng

TITLE
Director & Deputy General Manager
COMPENSATION
CN¥720K

Jie Quan Xiu

TITLE
Chief Financial Officer
AGE
50

Cheng Liu Zhan

TITLE
Deputy General Manager and Director
AGE
39

Xi Guo Rong

TITLE
Chairman of the Supervisory Board
AGE
43

Guodong Zhao

TITLE
Director
COMPENSATION
CN¥2M
AGE
40

Kangda Rao

TITLE
Non-Independent Director
AGE
36

Hua Huang Cai

TITLE
Independent Director
COMPENSATION
CN¥100K
AGE
44

Yujie Zhu

TITLE
Independent Director
COMPENSATION
CN¥100K
AGE
50
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CN¥) Value (CN¥)
X
Management checks
We assess Guangdong Homa Appliances'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. Guangdong Homa Appliances 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.

002668 News

Simply Wall St News

002668 Company Info

Description

Guangdong Homa Appliances Co., Ltd. manufactures, sells, and exports refrigerators in China and internationally. It is also involved in various activities, such as Internet lending platform, commercial factoring loans, Internet small loans, loan assistance, as well as bank Internet financial platform technology development services, etc. The company was founded in 2002 and is based in Zhongshan, China.

Details
Name: Guangdong Homa Appliances Co., Ltd.
002668
Exchange: SZSE
Founded: 2002
CN¥5,442,239,368
1,084,111,428
Website: http://www.homa.cn
Address: Guangdong Homa Appliances Co., Ltd.
No. 54 Dongfu North Road,
Nantou Town,
Zhongshan,
528427,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SZSE 002668 Domestic Shares Shenzhen Stock Exchange CN CNY 16. Apr 2012
XSEC 002668 Domestic Shares Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect CN CNY 16. Apr 2012
Number of employees
Current staff
Staff numbers
10,876
Guangdong Homa Appliances employees.
Industry
Household Appliances
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 15:21
End of day share price update: 2020/04/09 00:00
Last estimates confirmation: 2019/04/26
Last earnings filing: 2020/02/28
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.