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Galaxy Entertainment Group

DB:KW9A
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KW9A
DB
HK$178B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Galaxy Entertainment Group Limited, an investment holding company, engages gaming and entertainment, and construction materials businesses in Macau, Hong Kong, and Mainland China. The last earnings update was 6 days ago. More info.


Add to Portfolio Compare Print
  • Galaxy Entertainment Group has significant price volatility in the past 3 months.
KW9A Share Price and Events
7 Day Returns
2.5%
DB:KW9A
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-29.3%
DB:KW9A
-48.1%
DE Hospitality
-20.9%
DE Market
KW9A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Galaxy Entertainment Group (KW9A) 2.5% -16.9% -27.4% -29.3% -5.6% -5%
DE Hospitality -6.8% -31.3% -57.6% -48.1% -63.2% -70.6%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • KW9A outperformed the Hospitality industry which returned -48.1% over the past year.
  • KW9A underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
KW9A
Industry
5yr Volatility vs Market

KW9A Value

 Is Galaxy Entertainment Group 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 Galaxy Entertainment Group 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 Galaxy Entertainment Group.

DB:KW9A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 21 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:KW9A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.782 (1 + (1- 25%) (0.58%))
0.856
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.856 * 6.07%)
4.81%

Discounted Cash Flow Calculation for DB:KW9A using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Galaxy Entertainment Group 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.

DB:KW9A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 4.81%)
2020 -11,076.67 Analyst x3 -10,568.59
2021 9,911.50 Analyst x6 9,023.09
2022 13,957.00 Analyst x1 12,123.17
2023 14,983.41 Est @ 7.35% 12,417.74
2024 15,737.21 Est @ 5.03% 12,444.22
2025 16,273.00 Est @ 3.4% 12,277.65
2026 16,641.78 Est @ 2.27% 11,979.97
2027 16,886.31 Est @ 1.47% 11,598.41
2028 17,040.23 Est @ 0.91% 11,167.28
2029 17,129.03 Est @ 0.52% 10,710.57
Present value of next 10 years cash flows HK$93,173.00
DB:KW9A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$17,129.03 × (1 + -0.39%) ÷ (4.81% – -0.39%)
HK$328,282.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$328,282.75 ÷ (1 + 4.81%)10
HK$205,271.13
DB:KW9A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$93,173.00 + HK$205,271.13
HK$298,444.13
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$298,444.13 / 4,333.02
HK$68.88
DB:KW9A Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KW9A represents 0.11649x of SEHK:27
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11649x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 68.88 x 0.11649
€8.02
Value per share (EUR) From above. €8.02
Current discount Discount to share price of €4.78
= -1 x (€4.78 - €8.02) / €8.02
40.5%

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

Current Discount
Amount off the current price Galaxy Entertainment Group is available for.
Intrinsic value
40%
Share price is €4.78 vs Future cash flow value of €8.02
Current Discount Checks
For Galaxy Entertainment Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Galaxy Entertainment Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Galaxy Entertainment Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Galaxy Entertainment Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Galaxy Entertainment Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KW9A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in HKD HK$3.01
SEHK:27 Share Price ** SEHK (2020-04-03) in HKD HK$41
Germany Hospitality Industry PE Ratio Median Figure of 9 Publicly-Listed Hospitality Companies 21.1x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

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

** Primary Listing of Galaxy Entertainment Group.

DB:KW9A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:27 Share Price ÷ EPS (both in HKD)

= 41 ÷ 3.01

13.62x

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

  • Galaxy Entertainment Group is good value based on earnings compared to the DE Hospitality industry average.
  • Galaxy Entertainment Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Galaxy Entertainment Group's expected growth come at a high price?
Raw Data
DB:KW9A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts
7.3%per year
Europe Hospitality Industry PEG Ratio Median Figure of 63 Publicly-Listed Hospitality Companies 0.96x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:KW9A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.62x ÷ 7.3%

1.88x

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

  • Galaxy Entertainment Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Galaxy Entertainment Group's assets?
Raw Data
DB:KW9A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in HKD HK$16.98
SEHK:27 Share Price * SEHK (2020-04-03) in HKD HK$41
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 1.73x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:KW9A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:27 Share Price ÷ Book Value per Share (both in HKD)

= 41 ÷ 16.98

2.41x

* Primary Listing of Galaxy Entertainment Group.

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

  • Galaxy Entertainment Group is overvalued based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Galaxy Entertainment Group'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 Hospitality 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 Hospitality industry average (and greater than 0)? (1 check)
  5. Galaxy Entertainment Group has a total score of 4/6, 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.

KW9A Future Performance

 How is Galaxy Entertainment Group expected to perform in the next 1 to 3 years based on estimates from 21 analysts?

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
7.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Galaxy Entertainment Group expected to grow at an attractive rate?
  • Galaxy Entertainment Group's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Galaxy Entertainment Group's earnings growth is positive but not above the Germany market average.
  • Galaxy Entertainment Group's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KW9A Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KW9A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts 7.3%
DB:KW9A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 21 Analysts 7.8%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 28.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
DB:KW9A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KW9A Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 68,373 22,807 1
2022-12-31 62,398 21,025 15,038 8
2021-12-31 58,749 19,550 13,113 21
2020-12-31 40,658 2,714 6,247 17
2020-04-05
DB:KW9A Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-12-31 51,902 19,442 13,042
2019-09-30 52,637 17,881 13,011
2019-06-30 53,372 16,320 12,981
2019-03-31 54,291 15,052 13,244
2018-12-31 55,211 13,784 13,507
2018-09-30 54,687 13,294
2018-06-30 54,163 16,282 13,080
2018-03-31 51,401 17,401 11,792
2017-12-31 48,640 18,520 10,504
2017-09-30 49,231 9,430
2017-06-30 49,823 15,785 8,356
2017-03-31 51,325 14,258 7,320

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Galaxy Entertainment Group's earnings are expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).
  • Galaxy Entertainment Group's revenue is expected to grow by 7.8% yearly, however this is not considered high growth (20% yearly).
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
DB:KW9A 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 21 Analyst Estimates (S&P Global) See Below

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

DB:KW9A Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 3.49 4.30 2.79 8.00
2021-12-31 2.99 3.79 1.71 20.00
2020-12-31 1.47 2.62 0.37 18.00
2020-04-05
DB:KW9A Past Financials Data
Date (Data in HKD Millions) EPS *
2019-12-31 3.01
2019-09-30 3.01
2019-06-30 3.00
2019-03-31 3.06
2018-12-31 3.13
2018-09-30 3.08
2018-06-30 3.04
2018-03-31 2.75
2017-12-31 2.45
2017-09-30 2.20
2017-06-30 1.96
2017-03-31 1.71

*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.
  • Galaxy Entertainment Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Galaxy Entertainment Group'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Galaxy Entertainment Group has a total score of 2/6, 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.

KW9A Past Performance

  How has Galaxy Entertainment Group 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 Galaxy Entertainment Group's growth in the last year to its industry (Hospitality).
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.
  • Galaxy Entertainment Group's year on year earnings growth rate has been positive over the past 5 years.
  • Galaxy Entertainment Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Galaxy Entertainment Group's 1-year earnings growth is negative, it can't be compared to the DE Hospitality industry average.
Earnings and Revenue History
Galaxy Entertainment Group'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 Galaxy Entertainment Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KW9A Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 51,901.99 13,041.55
2019-09-30 52,636.98 13,011.16 22.57
2019-06-30 53,371.97 12,980.77 45.14
2019-03-31 54,291.43 13,244.08 67.65
2018-12-31 55,210.90 13,507.39 90.16
2018-09-30 54,686.80 13,293.71 90.20
2018-06-30 54,162.70 13,080.02 90.24
2018-03-31 51,401.22 11,792.19 89.66
2017-12-31 48,639.74 10,504.36 89.08
2017-09-30 49,231.39 9,430.19 88.56
2017-06-30 49,823.03 8,356.02 88.04
2017-03-31 51,324.57 7,319.71 88.64
2016-12-31 52,826.12 6,283.40 89.23
2016-09-30 51,992.14 5,486.07 48.45
2016-06-30 51,158.17 4,688.75 7.66
2016-03-31 51,074.49 4,424.90 3.83
2015-12-31 50,990.81 4,161.05
2015-09-30 54,853.98 5,280.36 1.10
2015-06-30 58,717.14 6,399.67 2.21
2015-03-31 65,234.81 8,369.74 1.10
2014-12-31 71,752.47 10,339.81
2014-09-30 72,689.28 10,858.08 4.34
2014-06-30 73,626.09 11,376.35 8.68
2014-03-31 69,829.30 10,714.05 4.34
2013-12-31 66,032.50 10,051.76
2013-09-30 62,635.09 9,314.52 0.07
2013-06-30 59,237.68 8,577.27 0.14

*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.
  • Galaxy Entertainment Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Galaxy Entertainment Group used its assets more efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Galaxy Entertainment Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Galaxy Entertainment Group'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 Hospitality 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.
Galaxy Entertainment Group has a total score of 3/6, 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.

KW9A Health

 How is Galaxy Entertainment Group'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 Galaxy Entertainment Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Galaxy Entertainment Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Galaxy Entertainment Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Galaxy Entertainment Group'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 29x 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 Galaxy Entertainment Group Company Filings, last reported 3 months ago.

DB:KW9A Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 74,154.88 673.57 16,561.84
2019-09-30 74,154.88 673.57 16,561.84
2019-06-30 69,049.42 6,610.89 14,112.64
2019-03-31 69,049.42 6,610.89 14,112.64
2018-12-31 62,831.20 8,970.00 15,322.01
2018-09-30 62,831.20 8,970.00 15,322.01
2018-06-30 61,489.43 8,617.19 9,200.48
2018-03-31 61,489.43 8,617.19 9,200.48
2017-12-31 56,015.59 9,757.45 17,740.36
2017-09-30 56,015.59 9,757.45 17,740.36
2017-06-30 50,889.37 6,723.02 18,843.14
2017-03-31 50,889.37 6,723.02 18,843.14
2016-12-31 46,863.01 5,944.92 19,967.07
2016-09-30 46,863.01 5,944.92 19,967.07
2016-06-30 43,774.73 1,404.39 10,970.18
2016-03-31 43,774.73 1,404.39 10,970.18
2015-12-31 41,713.34 1,206.03 8,444.85
2015-09-30 41,713.34 1,206.03 8,444.85
2015-06-30 40,059.98 4,994.73 10,343.31
2015-03-31 40,059.98 4,994.73 10,343.31
2014-12-31 38,989.08 835.28 10,361.75
2014-09-30 38,989.08 835.28 10,361.75
2014-06-30 36,354.30 595.44 15,503.63
2014-03-31 36,354.30 595.44 15,503.63
2013-12-31 33,054.29 513.09 11,760.00
2013-09-30 33,054.29 513.09 11,760.00
2013-06-30 27,176.62 10,538.67 19,839.39
  • Galaxy Entertainment Group's level of debt (0.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (2.3% vs 0.9% today).
  • Debt is well covered by operating cash flow (2886.4%, greater than 20% of total debt).
  • Galaxy Entertainment Group earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Galaxy Entertainment Group'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. Galaxy Entertainment Group has a total score of 5/6, 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.

KW9A Dividends

 What is Galaxy Entertainment Group'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
2.22%
Current annual income from Galaxy Entertainment Group dividends. Estimated to be 1.9% next year.
If you bought €2,000 of Galaxy Entertainment Group shares you are expected to receive €44 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?
  • Galaxy Entertainment Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Galaxy Entertainment Group's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
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
DB:KW9A 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 21 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 11.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:KW9A Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.26 1.00
2022-12-31 1.00 7.00
2021-12-31 0.85 16.00
2020-12-31 0.57 15.00
2020-04-05
DB:KW9A Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-08-13 0.910 1.762
2019-03-28 0.950 1.795
2019-02-28 0.950 1.786
2018-08-08 0.910 1.825
2018-03-23 0.740 1.130
2018-02-28 0.740 1.068
2017-09-20 0.590 1.001
2017-08-30 0.590 1.146
2017-03-24 0.440 0.979
2017-02-28 0.440 1.112
2016-10-26 0.330 0.943
2016-09-14 0.330 1.096
2016-08-25 0.330 1.214
2016-04-27 0.290 1.165
2016-03-23 0.290 1.026
2016-02-25 0.290 1.075
2015-09-09 0.420 1.760
2015-08-19 0.420 1.663

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

  • Galaxy Entertainment Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Galaxy Entertainment Group only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Galaxy Entertainment Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Galaxy Entertainment Group has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess Galaxy Entertainment Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Galaxy Entertainment Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Galaxy Entertainment Group 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.

KW9A Management

 What is the CEO of Galaxy Entertainment Group'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.
  • Galaxy Entertainment Group has no CEO, or we have no data on them.
Management Team Tenure

Average tenure and age of the Galaxy Entertainment Group management team in years:

12
Average Tenure
64
Average Age
  • The average tenure for the Galaxy Entertainment Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Che-Woo Lui

TITLE
Founder
COMPENSATION
HK$60M
AGE
89

Francis Lui

TITLE
Deputy Chairman & Member of Executive Board
COMPENSATION
HK$82M
AGE
63

Joseph Chee

TITLE
MD of the Construction Materials Division
COMPENSATION
HK$8M
AGE
61

Paddy Tang

TITLE
Member of Executive Board & Executive Director
COMPENSATION
HK$5M
AGE
65
TENURE
28.7 yrs

Robert Charles Drake

TITLE
Group Chief Financial Officer
TENURE
12 yrs

James Houghton

TITLE
Director of Information Systems & Technology
TENURE
4 yrs

Peter J. Caveny

TITLE
Assistant Senior Vice President of Investor Relations

Raymond Kwok

TITLE
Senior Director of Legal

Buddy Lam

TITLE
Senior Vice President of Public Relations

Gillian Murphy

TITLE
Senior Vice President of Galaxy Macau and General Manager of Broadway - Galaxy Macau
Board of Directors Tenure

Average tenure and age of the Galaxy Entertainment Group board of directors in years:

15.3
Average Tenure
70
Average Age
  • The average tenure for the Galaxy Entertainment Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Che-Woo Lui

TITLE
Founder
COMPENSATION
HK$60M
AGE
89

Francis Lui

TITLE
Deputy Chairman & Member of Executive Board
COMPENSATION
HK$82M
AGE
63

Joseph Chee

TITLE
MD of the Construction Materials Division
COMPENSATION
HK$8M
AGE
61
TENURE
16 yrs

Paddy Tang

TITLE
Member of Executive Board & Executive Director
COMPENSATION
HK$5M
AGE
65
TENURE
28.7 yrs

William Yip

TITLE
Independent Non-Executive Director
COMPENSATION
HK$590K
AGE
81
TENURE
15.3 yrs

James Ross Ancell

TITLE
Independent Non-Executive Director
COMPENSATION
HK$510K
AGE
65
TENURE
16 yrs

Charles Cheung

TITLE
Non-Executive Director
COMPENSATION
HK$240K
AGE
83
TENURE
4.5 yrs

Patrick Wong

TITLE
Independent Non-Executive Director
COMPENSATION
HK$620K
AGE
71
TENURE
11.7 yrs

Mike Mecca

TITLE
Non-Executive Director
AGE
70
TENURE
1.9 yrs
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 (€) Value (€)
27. Mar 20 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 24. Mar 20 24. Mar 20 -15,715,288 €5.17 €-81,202,706
25. Mar 20 Buy J.P. Morgan Asset Management, Inc. Company 20. Mar 20 20. Mar 20 12,753,359 €5.15 €65,671,550
16. Mar 20 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 11. Mar 20 11. Mar 20 18,620,813 €5.78 €107,701,443
16. Mar 20 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 11. Mar 20 11. Mar 20 -166,000 €5.78 €-960,132
16. Mar 20 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 11. Mar 20 11. Mar 20 207,558 €5.78 €1,200,501
16. Mar 20 Sell J.P. Morgan Asset Management, Inc. Company 11. Mar 20 11. Mar 20 -22,771,397 €5.78 €-131,708,122
13. Mar 20 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 10. Mar 20 10. Mar 20 -19,019,234 €5.72 €-108,836,602
13. Mar 20 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 10. Mar 20 10. Mar 20 -8,000 €5.72 €-45,780
13. Mar 20 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 10. Mar 20 10. Mar 20 16,000 €5.72 €91,559
13. Mar 20 Buy J.P. Morgan Asset Management, Inc. Company 10. Mar 20 10. Mar 20 22,765,839 €5.72 €130,276,359
12. Mar 20 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 09. Mar 20 09. Mar 20 -3,928,365 €5.49 €-21,571,476
17. Feb 20 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 12. Feb 20 12. Feb 20 -18,443,179 €6.70 €-123,512,790
17. Feb 20 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 12. Feb 20 12. Feb 20 46,078 €6.70 €308,581
17. Feb 20 Buy J.P. Morgan Asset Management, Inc. Company 12. Feb 20 12. Feb 20 22,388,839 €6.70 €149,936,623
14. Feb 20 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 11. Feb 20 11. Feb 20 -5,166,210 €6.42 €-33,192,545
31. Jan 20 Sell Capital Research and Management Company Company 29. Jan 20 29. Jan 20 -9,515,500 €6.23 €-59,264,609
20. Jan 20 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 15. Jan 20 15. Jan 20 83,557 €7.15 €597,510
13. Nov 19 Sell Michael Victor Mecca Individual 08. Nov 19 08. Nov 19 -50,000 €6.46 €-322,838
04. Nov 19 Sell Capital Research and Management Company Company 31. Oct 19 31. Oct 19 -2,441,000 €6.14 €-14,983,759
26. Sep 19 Sell Capital Research and Management Company Company 24. Sep 19 24. Sep 19 -2,722,000 €5.75 €-15,660,489
04. Sep 19 Buy Capital Research and Management Company Company 02. Sep 19 02. Sep 19 4,000,000 €5.60 €22,402,038
10. May 19 Sell Capital Research and Management Company Company 08. May 19 08. May 19 -3,402,000 €6.35 €-21,589,942
08. May 19 Buy Capital Research and Management Company Company 06. May 19 06. May 19 5,737,000 €6.52 €37,382,264
17. Apr 19 Sell Michael Victor Mecca Individual 12. Apr 19 12. Apr 19 -50,000 €6.46 €-323,185
X
Management checks
We assess Galaxy Entertainment Group'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. Galaxy Entertainment Group 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.

KW9A News

Simply Wall St News

KW9A Company Info

Description

Galaxy Entertainment Group Limited, an investment holding company, engages gaming and entertainment, and construction materials businesses in Macau, Hong Kong, and Mainland China. The company operates casino games of chance or games of other forms; and provides hospitality and related services. It owns and operates Galaxy Macau, an integrated resort; Broadway Macau, a landmark entertainment and food street destination; and StarWorld Macau, a 5-star hotel located in the Macau Peninsula, as well as City Club casinos. The company also manufactures, sells, and distributes construction materials, including concrete pipes and piles, asphalt, ready-mixed concrete, concrete products, slag, and cement; provides property investment, equipment leasing, quality assurance, project management, and security services; and imports, exports, trades in, and transports construction materials. In addition, it is involved in quarrying, aircraft holding and operating, and vessel holding activities. Galaxy Entertainment Group Limited is based in Central, Hong Kong.

Details
Name: Galaxy Entertainment Group Limited
KW9A
Exchange: DB
Founded:
HK$21,239,509,797
4,333,021,183
Website: http://www.galaxyentertainment.com
Address: Galaxy Entertainment Group Limited
Wing On Centre,
22nd Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 27 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK GXYE.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB KW9A Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SWX GLX Ordinary Shares SIX Swiss Exchange CH CHF 02. Jan 1992
SHSC 27 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 27 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
OTCPK GXYY.Y UNSPONSORED ADR Pink Sheets LLC US USD 18. Aug 2016
Number of employees
Current staff
Staff numbers
22,000
Galaxy Entertainment Group employees.
Industry
Casinos and Gaming
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 23:56
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/03/30
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.