Loading...

We've got a brand new version of Simply Wall St! Try it out

Far East Horizon

DB:F6H
Snowflake Description

Undervalued with reasonable growth potential and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
F6H
DB
HK$28B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Far East Horizon Limited, together with its subsidiaries, provides various financial services in Mainland China, Hong Kong, and internationally. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
F6H Share Price and Events
7 Day Returns
-3.1%
DB:F6H
5%
DE Diversified Financial
2.5%
DE Market
1 Year Returns
3.4%
DB:F6H
1.4%
DE Diversified Financial
2.6%
DE Market
F6H Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Far East Horizon (F6H) -3.1% -5.6% -10.2% 3.4% -2.8% 18.6%
DE Diversified Financial 5% 7% -5% 1.4% 75.8% 333.8%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • F6H outperformed the Diversified Financial industry which returned 1.4% over the past year.
  • F6H matched the Germany Market (2.6%) over the past year.
Price Volatility
F6H
Industry
5yr Volatility vs Market

F6H Value

 Is Far East Horizon 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 Far East Horizon 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 Far East Horizon.

DB:F6H Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= CN¥8.92 * 15.6%
CN¥1.39
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. CN¥8.92
Discount Rate (Cost of Equity) See below 13.5%
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 DB:F6H
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 25%) (662.19%))
3.206
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 6.65%)
13.53%

Discounted Cash Flow Calculation for DB:F6H using Excess Returns Model Model

The calculations below outline how an intrinsic value for Far East Horizon is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:F6H Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (15.6% – 13.53%) * CN¥8.92)
CN¥0.19
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥0.19 / (13.53% - 0.23%)
CN¥1.42
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥8.92 + CN¥1.42
CN¥10.33
DB:F6H Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:3360)
1.107
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥10.33 x 1.107
HK$11.44
Non-primary Listing Adjustment Factor 1 share in DB:F6H represents 0.11367x of SEHK:3360
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11367x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 11.44 x 0.11367
€1.30
Value per share (EUR) From above. €1.30
Current discount Discount to share price of €0.79
= -1 x (€0.79 - €1.30) / €1.30
39.2%

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

Current Discount
Amount off the current price Far East Horizon is available for.
Intrinsic value
39%
Share price is €0.79 vs Future cash flow value of €1.3
Current Discount Checks
For Far East Horizon to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Far East Horizon's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Far East Horizon's share price is below the future cash flow value, but not 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 Far East Horizon's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Far East Horizon's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:F6H PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CNY CN¥1.08
SEHK:3360 Share Price ** SEHK (2019-10-11) in HKD HK$6.95
SEHK:3360 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.904 CN¥6.28
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of Far East Horizon.

DB:F6H PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:3360 Share Price ÷ EPS (both in CNY)

= 6.28 ÷ 1.08

5.8x

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

  • Far East Horizon is good value based on earnings compared to the DE Diversified Financial industry average.
  • Far East Horizon is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Far East Horizon's expected growth come at a high price?
Raw Data
DB:F6H PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
15.3%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:F6H PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.8x ÷ 15.3%

0.38x

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

  • Far East Horizon is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Far East Horizon's assets?
Raw Data
DB:F6H PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CNY CN¥9.72
SEHK:3360 Share Price * SEHK (2019-10-11) in HKD HK$6.95
SEHK:3360 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.904 CN¥6.28
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:F6H PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:3360 Share Price ÷ Book Value per Share (both in CNY)

= 6.28 ÷ 9.72

0.65x

* Primary Listing of Far East Horizon.

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

  • Far East Horizon is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess Far East Horizon'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 Diversified Financial 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 Diversified Financial industry average (and greater than 0)? (1 check)
  5. Far East Horizon has a total score of 5/6, 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.

F6H Future Performance

 How is Far East Horizon expected to perform in the next 1 to 3 years based on estimates from 5 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
15.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Far East Horizon expected to grow at an attractive rate?
  • Far East Horizon's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Far East Horizon's earnings growth is expected to exceed the Germany market average.
  • Far East Horizon's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:F6H Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:F6H Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 15.3%
DB:F6H Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 25.2%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:F6H Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:F6H Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 51,449 6,104 1
2020-12-31 36,952 5,271 2
2019-12-31 31,268 4,554 2
2019-10-12
DB:F6H Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-06-30 26,264 26,927 4,151
2019-03-31 25,591 6,042 4,039
2018-12-31 24,919 -14,843 3,927
2018-09-30 23,605 -31,778 3,774
2018-06-30 22,292 -48,712 3,620
2018-03-31 20,424 -44,749 3,424
2017-12-31 18,557 -40,787 3,229
2017-09-30 17,006 -36,583 3,145
2017-06-30 15,455 -32,380 3,062
2017-03-31 14,613 -26,695 2,972
2016-12-31 13,771 -21,009 2,882
2016-09-30 13,445 -19,806 2,764

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Far East Horizon's earnings are expected to grow by 15.3% yearly, however this is not considered high growth (20% yearly).
  • Far East Horizon's revenue is expected to grow significantly at over 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:F6H 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 5 Analyst Estimates (S&P Global) See Below

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

DB:F6H Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.55 1.73 1.40 3.00
2020-12-31 1.33 1.47 1.24 5.00
2019-12-31 1.16 1.27 1.09 5.00
2019-10-12
DB:F6H Past Financials Data
Date (Data in CNY Millions) EPS *
2019-06-30 1.08
2019-03-31 1.05
2018-12-31 1.02
2018-09-30 0.98
2018-06-30 0.94
2018-03-31 0.89
2017-12-31 0.84
2017-09-30 0.82
2017-06-30 0.80
2017-03-31 0.77
2016-12-31 0.74
2016-09-30 0.71

*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.
  • Far East Horizon is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Far East Horizon'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 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.
Far East Horizon has a total score of 4/6, 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.

F6H Past Performance

  How has Far East Horizon 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 Far East Horizon's growth in the last year to its industry (Diversified Financial).
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.
  • Far East Horizon's year on year earnings growth rate has been positive over the past 5 years.
  • Far East Horizon's 1-year earnings growth exceeds its 5-year average (14.7% vs 13.7%)
  • Far East Horizon's earnings growth has exceeded the Europe Diversified Financial industry average in the past year (14.7% vs 3.5%).
Earnings and Revenue History
Far East Horizon'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 Far East Horizon Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:F6H Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 26,264.14 4,151.20 5,429.70
2019-03-31 25,591.45 4,039.33 5,380.25
2018-12-31 24,918.76 3,927.47 5,330.81
2018-09-30 23,605.15 3,773.60 3,789.40
2018-06-30 22,291.53 3,619.74 3,904.13
2018-03-31 20,424.24 3,424.40 4,003.10
2017-12-31 18,556.94 3,229.06 4,102.07
2017-09-30 17,005.77 3,145.40 4,357.24
2017-06-30 15,454.59 3,061.75 4,612.41
2017-03-31 14,612.60 2,971.98 4,373.28
2016-12-31 13,770.61 2,882.21 4,134.15
2016-09-30 13,445.05 2,764.14 4,275.27
2016-06-30 13,119.49 2,646.06 4,416.38
2016-03-31 12,396.63 2,574.59 3,897.02
2015-12-31 11,673.76 2,503.11 3,377.66
2015-09-30 11,205.15 2,465.08 3,221.65
2015-06-30 10,736.53 2,427.05 3,065.64
2015-03-31 10,391.29 2,361.50 3,040.77
2014-12-31 10,046.05 2,295.95 3,015.91
2014-09-30 9,657.49 2,169.99 2,894.06
2014-06-30 9,268.93 2,044.04 2,772.21
2014-03-31 8,568.02 1,978.39 2,595.75
2013-12-31 7,867.11 1,912.74 2,419.29
2013-09-30 7,305.92 1,846.73 2,168.96
2013-06-30 6,823.19 1,798.55 1,936.32
2013-03-31 6,633.92 1,654.07 1,747.09
2012-12-31 6,484.26 1,518.58 1,566.78

*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.
  • Far East Horizon has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Far East Horizon used its assets less efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • Unable to establish if Far East Horizon improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Far East Horizon'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 Diversified Financial 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.
Far East Horizon 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.

F6H Health

 How is Far East Horizon'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 Far East Horizon's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Far East Horizon is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Far East Horizon's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Far East Horizon'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 1.3x 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 Far East Horizon Company Filings, last reported 3 months ago.

DB:F6H Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 40,183.82 163,541.43 6,772.53
2019-03-31 40,183.82 163,541.43 6,772.53
2018-12-31 39,092.50 172,722.84 5,824.41
2018-09-30 39,092.50 172,722.84 5,824.41
2018-06-30 37,377.78 182,200.67 7,260.08
2018-03-31 37,377.78 182,200.67 7,260.08
2017-12-31 36,407.79 145,159.96 2,938.02
2017-09-30 36,407.79 145,159.96 2,938.02
2017-06-30 26,421.24 130,665.25 3,219.52
2017-03-31 26,421.24 130,665.25 3,219.52
2016-12-31 24,846.10 107,029.81 2,955.39
2016-09-30 24,846.10 107,029.81 2,955.39
2016-06-30 23,306.61 93,186.13 1,018.81
2016-03-31 23,306.61 93,186.13 1,018.81
2015-12-31 22,961.42 83,716.92 2,921.04
2015-09-30 22,961.42 83,716.92 2,921.04
2015-06-30 17,865.77 76,338.88 3,054.33
2015-03-31 17,865.77 76,338.88 3,054.33
2014-12-31 17,449.89 72,001.78 3,381.09
2014-09-30 17,449.89 72,001.78 3,381.09
2014-06-30 16,013.23 65,976.62 1,694.97
2014-03-31 16,013.23 65,976.62 1,694.97
2013-12-31 14,164.87 56,621.30 2,673.48
2013-09-30 14,164.87 56,621.30 2,673.48
2013-06-30 13,188.04 46,504.38 1,925.16
2013-03-31 13,345.42 47,059.36 1,948.14
2012-12-31 12,855.45 36,759.18 1,502.70
  • Far East Horizon's level of debt (407%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (412% vs 407% today).
  • Debt is not well covered by operating cash flow (16.5%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Far East Horizon's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Far East Horizon'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. Far East Horizon 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.

F6H Dividends

 What is Far East Horizon'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
4.12%
Current annual income from Far East Horizon dividends. Estimated to be 6.25% next year.
If you bought €2,000 of Far East Horizon shares you are expected to receive €82 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?
  • Far East Horizon's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Far East Horizon's dividend is above the markets top 25% of dividend payers in Germany (3.86%).
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:F6H 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 5 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:F6H Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.55 3.00
2020-12-31 0.36 4.00
2019-12-31 0.31 4.00
2019-10-12
DB:F6H Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-05-06 0.259 4.021
2018-05-04 0.242 3.862
2017-03-29 0.184 3.157
2016-05-03 0.192 3.426
2015-03-25 0.184 3.445
2014-03-26 0.181 3.609
2013-03-27 0.179 4.283
2012-03-21 0.080 1.812

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

  • Whilst dividend payments have been stable, Far East Horizon has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Far East Horizon only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Far East Horizon's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess Far East Horizon'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 Far East Horizon afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Far East Horizon has a total score of 4/6, see the detailed checks below.


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

F6H Management

 What is the CEO of Far East Horizon'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
Fanxing Kong
COMPENSATION CN¥7,328,000
AGE 55
TENURE AS CEO 10.1 years
CEO Bio

Mr. Fanxing Kong has been the Chief Executive Officer of Far East Horizon Limited since September 2009 and served as its President since September 2009. Mr. Kong serves as the Chairman and the Chief Executive Officer of Far Eastern Leasing Corporation. In April 2001, he joined International Far Eastern Leasing Co., Ltd and has become the general manager since then. He has been the Assistant President of Sinochem Group and the Chairman as well as the General Manager of Shanghai Donghong Co. Ltd. since April 2006. Currently, Mr. Kong is also the chairman and general manager of Far East Horizon (Tianjin) Financial Leasing Co., Ltd., as well as an executive director and general manager of Far East Horizon Financial Leasing Co., Ltd. He is a co-owner at Aim Future Limited. Mr. Kong served as an Assistant President of Sinochem Corporation since September, 2009. Mr. Kong was responsible for the overall daily operations of Far East Horizon. Mr. Fanxing served at Sinochem Corporation for 20 years. He served as Executive Vice President of Sinochem Fertilizer. In April 1998, he became the General Manager of Sinochem International Engineering Trade Company and served there until July 1998. In July 1998, Mr. Kong rejoined Sinochem International Industrial Company as the Deputy General Manager. In January 1999, he joined Sinochem International Tendering Co., Ltd. as the Deputy General Manager and was promoted to the role of General Manager in August 1999. In November 2000, Mr. Kong returned to Sinochem Group where he held the position of the Deputy Chief of the fertilizer division. At the same time, he was the Executive Deputy General Manager of Sinochem International Fertilizer Trading Company (a company mainly conducting the production, trading and distribution of fertilizer). He held both positions until April 2001 when he joined Far Eastern where he has served as the general manager. Mr. Kong has nearly 23 years of experience in enterprise management. Mr. Kong joined Sinochem Group in August 1991. He has been Vice Chairman of Far East Horizon Limited since October 16, 2009. Mr. Kong received an EMBA degree from Peking University in January 2006, a Master's degree in Economics and a Bachelor's degree in Economics from University of International Business and Economics in China in June 1991 and July 1986, respectively.

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

Average tenure and age of the Far East Horizon management team in years:

8.4
Average Tenure
48
Average Age
  • The average tenure for the Far East Horizon management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Fanxing Kong

TITLE
Vice Chairman & CEO
COMPENSATION
CN¥7M
AGE
55
TENURE
10.1 yrs

Mingzhe Wang

TITLE
Executive Director & CFO
COMPENSATION
CN¥5M
AGE
48
TENURE
10.1 yrs

Jianjun Cai

TITLE
Chief Information Officer
AGE
56
TENURE
5.5 yrs

Jian Cao

TITLE
Senior Vice President
AGE
44
TENURE
6.8 yrs

Celia Mak

TITLE
Company Secretary
AGE
45
Board of Directors Tenure

Average tenure and age of the Far East Horizon board of directors in years:

8.6
Average Tenure
55.5
Average Age
  • The tenure for the Far East Horizon board of directors is about average.
Board of Directors

Frank Ning

TITLE
Chairman
AGE
61
TENURE
3.6 yrs

Fanxing Kong

TITLE
Vice Chairman & CEO
COMPENSATION
CN¥7M
AGE
55
TENURE
10 yrs

Mingzhe Wang

TITLE
Executive Director & CFO
COMPENSATION
CN¥5M
AGE
48
TENURE
10 yrs

David Liu

TITLE
Non-Executive Director
COMPENSATION
CN¥360K
AGE
49
TENURE
10 yrs

Jialin Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥360K
AGE
56
TENURE
8.6 yrs

Wai Ming Yip

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥360K
AGE
54
TENURE
8.6 yrs

Lin Yang

TITLE
Non-Executive Director
AGE
55
TENURE
10 yrs

Xiaojing Han

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥360K
AGE
64
TENURE
8.6 yrs

Cunqiang Cai

TITLE
Independent Non-Executive Director
AGE
69
TENURE
8.6 yrs

John Law

TITLE
Non-Executive Director
AGE
69
TENURE
7 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 (€)
24. Sep 19 Buy DCP Investments Company 19. Sep 19 19. Sep 19 50,000,000 €0.85 €42,459,446
18. Jul 19 Buy UBS Asset Management Company 15. Jul 19 15. Jul 19 805,000 €0.85 €686,721
24. May 19 Sell UBS Asset Management Company 21. May 19 21. May 19 -78,000 €0.90 €-70,502
21. May 19 Buy UBS Asset Management Company 16. May 19 16. May 19 2,140,564 €0.91 €1,944,103
04. Feb 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 31. Jan 19 31. Jan 19 1,633,000 €0.90 €1,467,404
09. Jan 19 Sell Cathay Securities Investment Trust Co Ltd. Company 09. Jan 19 09. Jan 19 -2,259,000 €0.85 €-1,920,925
27. Nov 18 Buy Capital Rise Limited Company 22. Nov 18 22. Nov 18 100,000,000 €0.80 €79,516,888
22. Nov 18 Buy Capital Rise Limited Company 13. Nov 18 13. Nov 18 20,000 €0.83 €16,501
02. Nov 18 Buy Capital Rise Limited Company 22. Oct 18 22. Oct 18 400,000 €0.82 €328,105
02. Nov 18 Buy Capital Rise Limited Company 30. Oct 18 30. Oct 18 11,000 €0.82 €8,982
24. Oct 18 Buy UBS Asset Management Company 19. Oct 18 19. Oct 18 3,700,000 €0.78 €2,896,866
23. Oct 18 Buy Capital Rise Limited Company 22. Oct 18 22. Oct 18 222,000 €0.82 €182,089
23. Oct 18 Buy Capital Rise Limited Company 19. Oct 18 19. Oct 18 701,000 €0.78 €549,158
19. Oct 18 Buy Capital Rise Limited Company 15. Oct 18 15. Oct 18 353,000 €0.78 €274,865
19. Oct 18 Buy Capital Rise Limited Company 16. Oct 18 16. Oct 18 500,000 €0.78 €389,620
19. Oct 18 Buy Capital Rise Limited Company 18. Oct 18 18. Oct 18 630,100 €0.78 €493,100
X
Management checks
We assess Far East Horizon'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. Far East Horizon 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.

F6H News

Simply Wall St News

F6H Company Info

Description

Far East Horizon Limited, together with its subsidiaries, provides various financial services in Mainland China, Hong Kong, and internationally. It operates in two segments, Financial, Lease and Advisory; and Industrial Operation and Management. The Financial, Lease and Advisory segment offers direct finance leasing, sale-leaseback, factoring, entrusted loans, operating lease, and advisory services. The Industrial Operation and Management segment is involved in the import and export trade, and domestic trade of medical equipment; investment, operation, and management of hospitals; and provision of ship brokerage services, medical engineering, healthcare management, preschool education and school operation management, and education consulting and management services, as well as trade agency services primarily within the machinery industry. The company also provides trading and brokerage, engineering, equipment operation, medical, and construction services. Far East Horizon Limited serves healthcare, education, infrastructure construction, machinery, packaging, transportation, electronic information, urban public utility, textiles, and other industries. The company was formerly known as Far Eastern Hong Xin Co., Limited and changed its name to Far East Horizon Limited in November 2010. Far East Horizon Limited was incorporated in 2008 and is headquartered in Wan Chai, Hong Kong.

Details
Name: Far East Horizon Limited
F6H
Exchange: DB
Founded: 2008
HK$3,174,876,940
3,959,410,624
Website: http://www.fehorizon.com
Address: Far East Horizon Limited
Central Plaza,
63rd Floor,
Wan Chai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 3360 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 30. Mar 2011
DB F6H Ordinary Shares Deutsche Boerse AG DE EUR 30. Mar 2011
SHSC 3360 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 30. Mar 2011
SZSC 3360 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 30. Mar 2011
Number of employees
Current staff
Staff numbers
14,771
Far East Horizon employees.
Industry
Specialized Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 22:07
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/10
Last earnings filing: 2019/08/28
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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.