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Herald Holdings

BST:HH3
Snowflake Description

Mediocre balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HH3
BST
HK$387M
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Herald Holdings Limited, an investment holding company, manufactures, sells, and distributes toys, computer products, housewares, clocks, watches, and electronic and gift products in North America, the United Kingdom, Europe, Asia, and internationally. The last earnings update was 112 days ago. More info.


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  • Herald Holdings has significant price volatility in the past 3 months.
HH3 Share Price and Events
7 Day Returns
9.6%
BST:HH3
6.2%
Europe Leisure
2.2%
DE Market
1 Year Returns
-22.2%
BST:HH3
6.1%
Europe Leisure
8.2%
DE Market
HH3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Herald Holdings (HH3) 9.6% 0% 44.5% -22.2% -46.2% -27.6%
Europe Leisure 6.2% 3.2% 5.5% 6.1% 61.1% 55.8%
DE Market 2.2% 6% 12.4% 8.2% 14.9% 24%
1 Year Return vs Industry and Market
  • HH3 underperformed the Leisure industry which returned 6.1% over the past year.
  • HH3 underperformed the Market in Germany which returned 8.2% over the past year.
Price Volatility
HH3
Industry
5yr Volatility vs Market

HH3 Value

 Is Herald Holdings 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 Herald Holdings 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 Herald Holdings.

BST:HH3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-03-31) in HKD HK$ .030000
Payout Ratio Company Filings (2019-03-31) -4960.6%
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 BST:HH3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Leisure Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.045 (1 + (1- 25%) (10.4%))
1.256
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.256 * 6.65%)
8.58%

Discounted Cash Flow Calculation for BST:HH3 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Herald Holdings is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

BST:HH3 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= HK$0.03 / (8.58% - 0.23%)
HK$0
BST:HH3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:HH3 represents 0.09844x of SEHK:114
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09844x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.21 x 0.09844
€0.02
Value per share (EUR) From above. €0.02
Current discount Discount to share price of €0.06
= -1 x (€0.06 - €0.02) / €0.02
-203.9%

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

  • The current share price of Herald Holdings 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 Herald Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Herald Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:HH3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in HKD HK$-0.04
SEHK:114 Share Price ** SEHK (2019-11-11) in HKD HK$0.64
Europe Leisure Industry PE Ratio Median Figure of 23 Publicly-Listed Leisure Companies 18.26x
Germany Market PE Ratio Median Figure of 403 Publicly-Listed Companies 19.76x

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

** Primary Listing of Herald Holdings.

BST:HH3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:114 Share Price ÷ EPS (both in HKD)

= 0.64 ÷ -0.04

-14.79x

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

  • Herald Holdings is loss making, we can't compare its value to the Europe Leisure industry average.
  • Herald Holdings is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Herald Holdings's expected growth come at a high price?
Raw Data
BST:HH3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -14.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Leisure Industry PEG Ratio Median Figure of 11 Publicly-Listed Leisure Companies 1.85x
Germany Market PEG Ratio Median Figure of 258 Publicly-Listed Companies 1.36x

*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 Herald Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Herald Holdings's assets?
Raw Data
BST:HH3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in HKD HK$1.17
SEHK:114 Share Price * SEHK (2019-11-11) in HKD HK$0.64
Europe Leisure Industry PB Ratio Median Figure of 30 Publicly-Listed Leisure Companies 1.83x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.82x
BST:HH3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:114 Share Price ÷ Book Value per Share (both in HKD)

= 0.64 ÷ 1.17

0.55x

* Primary Listing of Herald Holdings.

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

  • Herald Holdings is good value based on assets compared to the Europe Leisure industry average.
X
Value checks
We assess Herald Holdings'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 Leisure 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 Leisure industry average (and greater than 0)? (1 check)
  5. Herald Holdings 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.

HH3 Future Performance

 How is Herald Holdings 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 Herald 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 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
12.3%
Expected Leisure industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Herald Holdings expected to grow at an attractive rate?
  • Unable to compare Herald Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Herald Holdings's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Herald Holdings's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BST:HH3 Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Leisure Industry Earnings Growth Rate Market Cap Weighted Average 12.3%
Europe Leisure Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*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
BST:HH3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:HH3 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-03-31 952 7 -26
2018-12-31 1,004 -7 -56
2018-09-30 1,056 -21 -85
2018-06-30 1,164 -28 -56
2018-03-31 1,272 -35 -27
2017-12-31 1,229 -62 -33
2017-09-30 1,187 -88 -40
2017-06-30 1,141 -79 5
2017-03-31 1,095 -71 50
2016-12-31 1,230 -15 89
2016-09-30 1,365 42 128
2016-06-30 1,447 55 83

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Herald Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Herald Holdings 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
BST:HH3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Herald Holdings Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:HH3 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-03-31 -0.04
2018-12-31 -0.09
2018-09-30 -0.14
2018-06-30 -0.09
2018-03-31 -0.04
2017-12-31 -0.06
2017-09-30 -0.07
2017-06-30 0.01
2017-03-31 0.08
2016-12-31 0.15
2016-09-30 0.21
2016-06-30 0.14

*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 Herald Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of HH3’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Herald Holdings'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
  3. Herald Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Herald Holdings'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Herald Holdings 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.

HH3 Past Performance

  How has Herald Holdings 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 Herald Holdings's growth in the last year to its industry (Leisure).
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.
  • Herald Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Herald Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Herald Holdings's 1-year growth to the Europe Leisure industry average as it is not currently profitable.
Earnings and Revenue History
Herald Holdings'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 Herald Holdings Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:HH3 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 952.47 -26.16 225.07
2018-12-31 1,004.33 -55.73 242.20
2018-09-30 1,056.19 -85.30 259.34
2018-06-30 1,163.90 -56.03 275.85
2018-03-31 1,271.61 -26.75 292.36
2017-12-31 1,229.15 -33.36 297.20
2017-09-30 1,186.69 -39.96 302.04
2017-06-30 1,140.86 5.08 295.92
2017-03-31 1,095.03 50.12 289.80
2016-12-31 1,229.96 89.05 295.76
2016-09-30 1,364.89 127.98 301.73
2016-06-30 1,446.94 83.50 305.30
2016-03-31 1,528.99 39.02 308.88
2015-12-31 1,452.56 27.16 294.25
2015-09-30 1,376.14 15.30 279.63
2015-06-30 1,320.62 15.76 283.01
2015-03-31 1,265.10 16.22 286.39
2014-12-31 1,300.14 19.54 305.65
2014-09-30 1,335.17 22.85 324.91
2014-06-30 1,337.47 24.66 318.91
2014-03-31 1,339.77 26.47 312.91
2013-12-31 1,296.06 19.46 310.34
2013-09-30 1,252.35 12.45 307.78
2013-06-30 1,298.62 17.72 312.50
2013-03-31 1,344.90 22.99 317.23
2012-12-31 1,386.57 41.94 314.24

*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.
  • It is difficult to establish if Herald Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Herald Holdings has efficiently used its assets last year compared to the Europe Leisure industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Herald Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Herald Holdings'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 Leisure 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.
Herald Holdings 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.

HH3 Health

 How is Herald Holdings'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 Herald Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Herald Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Herald Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Herald Holdings'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 14.2x 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 Herald Holdings Company Filings, last reported 7 months ago.

BST:HH3 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 718.44 40.24 222.37
2018-12-31 718.44 40.24 222.37
2018-09-30 669.53 44.29 220.46
2018-06-30 669.53 44.29 220.46
2018-03-31 766.85 107.28 186.90
2017-12-31 766.85 107.28 186.90
2017-09-30 807.85 54.17 292.66
2017-06-30 807.85 54.17 292.66
2017-03-31 801.38 54.40 232.37
2016-12-31 801.38 54.40 232.37
2016-09-30 961.66 15.35 520.63
2016-06-30 961.66 15.35 520.63
2016-03-31 824.35 4.99 227.46
2015-12-31 824.35 4.99 227.46
2015-09-30 847.93 6.81 323.94
2015-06-30 847.93 6.81 323.94
2015-03-31 837.15 8.61 218.24
2014-12-31 837.15 8.61 218.24
2014-09-30 883.01 10.39 381.67
2014-06-30 883.01 10.39 381.67
2014-03-31 863.04 12.14 320.68
2013-12-31 863.04 12.14 320.68
2013-09-30 904.62 13.86 431.31
2013-06-30 904.62 13.86 431.31
2013-03-31 880.38 15.57 251.55
2012-12-31 880.38 15.57 251.55
  • Herald Holdings's level of debt (5.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (1.4% vs 5.6% today).
  • Debt is not well covered by operating cash flow (18.4%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Herald Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Herald Holdings'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. Herald Holdings has a total score of 3/6, 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.

HH3 Dividends

 What is Herald Holdings'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
4.69%
Current annual income from Herald Holdings dividends.
If you bought €2,000 of Herald Holdings shares you are expected to receive €94 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?
  • Herald Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Herald Holdings's dividend is above the markets top 25% of dividend payers in Germany (3.65%).
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
BST:HH3 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
Europe Leisure Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

BST:HH3 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-09-06 0.030 4.568
2018-11-29 0.000 0.000
2018-09-21 0.060 6.970
2017-07-21 0.080 7.506
2017-06-29 0.080 6.950
2016-07-22 0.080 7.196
2016-06-29 0.080 7.716
2015-07-23 0.070 6.867
2015-06-29 0.070 7.235
2014-07-18 0.070 7.234
2014-06-27 0.070 7.654
2013-07-22 0.070 8.061
2013-06-27 0.070 8.187
2012-11-29 0.090 9.815
2012-06-29 0.090 10.385
2011-11-29 0.090 10.508
2011-06-29 0.090 8.750
2010-12-09 0.090 7.144
2010-07-20 0.090 8.053
2009-12-18 0.080 7.221
2009-07-10 0.080 9.472
2008-12-12 0.080 13.827

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Herald Holdings's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
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 Herald Holdings'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 Herald Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Herald Holdings has a total score of 2/6, see the detailed checks below.


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

HH3 Management

 What is the CEO of Herald Holdings'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
Kam-Hung Shum
COMPENSATION HK$2,769,000
AGE 55
TENURE AS CEO 4.3 years
CEO Bio

Mr. Kam Hung Shum, ACIS, CPA has been the Managing Director of Herald Holdings Limited since July 1, 2015 and served as its Secretary since July 2008 until July 1, 2015. Mr. Shum served at Herald Holdings as an Accounting Manager from 1994 to 1996 and as Financial Controller since 1999. He has over 20 years of experience in auditing, accounting and financial management. He has been an Executive Director of Herald Holdings Limited since July 1, 2015. Mr. Shum holds a Master of Business Administration degree from the University of Warwick, United Kingdom and is a member of the Hong Kong Institute of Certified Public Accountants, the New Zealand Institute of Chartered Accountants and the Institute of Chartered Secretaries and Administrators.

CEO Compensation
  • Kam-Hung's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kam-Hung's remuneration is higher than average for companies of similar size in Germany.
Management Team

Robert Dorfman

TITLE
Chairman
COMPENSATION
HK$5M
AGE
64

Kam-Hung Shum

TITLE
MD & Executive Director
COMPENSATION
HK$3M
AGE
55
TENURE
4.3 yrs

Stan Cheung

TITLE
Executive Director
COMPENSATION
HK$4M
AGE
75

Man-Pun Lai

TITLE
Company Secretary
TENURE
2 yrs

Nam-Po Kwok

TITLE
MD of Dongguan Herald Toys Company Ltd. and Dongguan Herald Metal & Plastic Company Ltd.
AGE
68

Gershon Dorfman

TITLE
Managing Director of Herald Datanetics Limited
AGE
63
Board of Directors Tenure

Average tenure and age of the Herald Holdings board of directors in years:

11.9
Average Tenure
64
Average Age
  • The average tenure for the Herald Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Robert Dorfman

TITLE
Chairman
COMPENSATION
HK$5M
AGE
64
TENURE
5.6 yrs

Kam-Hung Shum

TITLE
MD & Executive Director
COMPENSATION
HK$3M
AGE
55
TENURE
4.3 yrs

Stan Cheung

TITLE
Executive Director
COMPENSATION
HK$4M
AGE
75
TENURE
27.8 yrs

David Ng

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
69
TENURE
9.8 yrs

David Lie-A-Cheong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
60
TENURE
14.4 yrs

Kent Yeh

TITLE
Independent Non-Executive Director
COMPENSATION
HK$300K
AGE
64
TENURE
14.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Herald Holdings individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
14. Oct 19 Buy Tsang-Kay Cheung Individual 11. Oct 19 11. Oct 19 180,000 €0.07 €12,876
10. Oct 19 Buy Tsang-Kay Cheung Individual 09. Oct 19 09. Oct 19 300,000 €0.07 €21,593
03. Sep 19 Buy Tsang-Kay Cheung Individual 02. Sep 19 02. Sep 19 90,000 €0.07 €6,384
02. Sep 19 Buy Tsang-Kay Cheung Individual 30. Aug 19 30. Aug 19 140,000 €0.07 €10,069
23. Aug 19 Buy Tsang-Kay Cheung Individual 22. Aug 19 22. Aug 19 100,000 €0.07 €6,902
22. Aug 19 Buy Tsang-Kay Cheung Individual 21. Aug 19 21. Aug 19 35,000 €0.07 €2,413
20. Aug 19 Buy Tsang-Kay Cheung Individual 19. Aug 19 19. Aug 19 125,000 €0.07 €8,559
X
Management checks
We assess Herald Holdings'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. Herald Holdings 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.

HH3 News

Simply Wall St News

HH3 Company Info

Description

Herald Holdings Limited, an investment holding company, manufactures, sells, and distributes toys, computer products, housewares, clocks, watches, and electronic and gift products in North America, the United Kingdom, Europe, Asia, and internationally. The company offers a range of toys, including action figures, electronic radio-controlled toy cars and boats, electronic games, and pre-school toys; battery-operated and electronic toys, radio-controlled vehicles, transformers, and model kits and gift items; and housewares, such as non-stick aluminium cookware and aluminium hard anodized cookware products under the Pilot and Chefmate trademarks. It also provides computer products, including connected devices for IoT, computer magnetic recording heads, electronic products, and other high tech devices, as well as engineering services; and manufactures and sells watches under the Braun, Vivienne Westwood, and Lambretta brands. Further, the company is involved in the property investment and leasing activities; and debt and equity securities, and managed funds investment activities. Herald Holdings Limited was incorporated in 1992 and is headquartered in Hong Kong, Hong Kong.

Details
Name: Herald Holdings Limited
HH3
Exchange: BST
Founded: 1992
HK$44,784,874
604,490,763
Website: http://www.heraldgroup.com.hk
Address: Herald Holdings Limited
Tower Two,
31st floor,
Hong Kong,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 114 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 28. Oct 1992
BST HH3 Ordinary Shares Boerse-Stuttgart DE EUR 28. Oct 1992
Number of employees
Current staff
Staff numbers
3,409
Herald Holdings employees.
Industry
Leisure Products
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/11 21:14
End of day share price update: 2019/11/11 00:00
Last earnings filing: 2019/07/22
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


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.