China Satellite Communications Co., Ltd. provides satellite communications and broadcasting services to broadcast, telecom, corporate, and government customers.
The last earnings update was 91 days ago.
Discounted Cash Flow Calculation for XSSC:601698 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for
China Satellite Communications
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.
XSSC:601698 DCF 1st Stage: Next 10 year cash flow forecast
The current share price of
China Satellite Communications
is above its future cash flow value.
Often investors are willing to pay a
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
China Satellite Communications's
is considered below, and whether this is a fair price.
Price based on past earnings
China Satellite Communications's earnings available for a low price, and how does
this compare to other companies in the same industry?
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 China Satellite Communications 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
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
Expected Media industry annual growth in earnings.
Earnings growth vs Low Risk Savings
China Satellite Communications
expected to grow at an
Unable to compare China Satellite Communications's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
Unable to compare China Satellite Communications's earnings growth to the China market average as no estimate data is available.
Unable to compare China Satellite Communications's revenue growth to the China market average as no estimate data is available.
Unable to determine if China Satellite Communications is high growth as no earnings estimate data is available.
Unable to determine if China Satellite Communications 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.
China Satellite Communications's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
China Satellite Communications
has a total score of
1/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
China Satellite Communications's finances.
The net worth of a company is the difference between its assets and liabilities.
China Satellite Communications is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
China Satellite Communications's cash and other short term assets cover its long term commitments.
This treemap shows a more detailed breakdown of
China Satellite Communications'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
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
High level of physical assets or inventory.
China Satellite Communications has no debt, it does not need to be covered by short term assets.
Nearly all companies have debt. Debt in itself isn’t
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.
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.
Mr. Chao Zhuo has been General Manager of China Satellite Communications Company Limited (“ChinaSat”) since July, 2010 and serves as its President. Mr. Zhuo holds other positions in certain subsidiaries of ChinaSat, including the General Manager of China Telecommunications Broadcast Satellite Corporation and the Chairman & General Manager of China Direct Broadcast Satellite Company Limited. Mr. Zhuo has extensive experience in corporate management. From 2009 to 2010, Mr. Zhuo served as the Head of the Aerospace Technology Application Division of CASC. From 1983 to 2006, Mr. Zhuo joined China Academy of Launch Vehicle Technology of China Aerospace Science and Technology Corporation. Mr. Zhuo worked in the 14th Institute of CALT as the Designer in office no. 6. From 2006 to 2009, he served as the Assistant to the Director of CALT. He serves as the Chairman of SINO Satellite Communications Company Limited and China Orient Telecomm Satellite Company Limited. He serves as the Director of China DBStar Company Limited. He is a Non Executive Director at APT Satellite Company Limited and APT Satellite International Company Limited since December 10, 2010. He has been a Director at ChinaSat since July 2010. He served as Director of APT Satellite Holdings Ltd. until August 29, 2017. He serves as a Director of APT Satellite Company Limited and APT Satellite Investment Company Limited, subsidiaries of APT Satellite Holdings Ltd. He served as the Deputy Director of CALT. From 2007 to 2009, he served as the Chairman of Beijing Hang Tian Wan Yuan Mei Hua Gong Gong Cheng Ji Shu Co., Ltd. He was the Assistant to the Director of the Technology Bureau. He was the Director of the Science and Technology Commission and the Director and Deputy Director of the 14th Institute. He was the Deputy Director of the Technology Bureau. Mr. Zhuo graduated from the Science & Technology University for National Defense of China in 1983 specializing in Radiation Physics, a Research Fellow and obtained a Master of Business Administration degree from the Beijing Institute of Technology in 2002.
Insufficient data for Chao to compare compensation growth.
Insufficient data for Chao to establish whether their remuneration is reasonable compared to companies of similar size in China.
Hao Ping Mu
Chief Financial Officer and Secretary of the Party Committee
Head of Discipline Inspection
Board of Directors
Who owns this company?
Recent Insider Trading
No 3 month open market individual insider trading information.
China Satellite Communications Co., Ltd. provides satellite communications and broadcasting services to broadcast, telecom, corporate, and government customers. The company offers satellite resource leasing services, such as long-term and temporary leasing; TV and radio program broadcasting services; satellite-based emergency communications support services in various major activities and natural disaster relief operations; satellite application services, including emergency transmission, video conference, long-distance training, mass data delivery, Internet access, etc.; and professional services consisting of business consultation, network design, system integration, hosting, commission maintenance of operation, and equipment maintenance. It operates 16 geostationary communications and broadcasting satellites covering China, Australia, Southeast Asia, South Asia, the Middle East, Europe, Africa, etc. The company is based in Beijing, China. China Satellite Communications Co., Ltd. is a subsidiary of China Aerospace Science and Technology Corporation.
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