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Jardine Cycle & Carriage

DB:CYC
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CYC
DB
SGD8B
Market Cap
  1. Home
  2. DE
  3. Retail
Company description

Jardine Cycle & Carriage Limited, an investment holding company, engages in automotive, financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally. The last earnings update was 35 days ago. More info.


Add to Portfolio Compare Print
  • Jardine Cycle & Carriage has significant price volatility in the past 3 months.
CYC Share Price and Events
7 Day Returns
-0.8%
DB:CYC
-1%
Europe Retail Distributors
-2.7%
DE Market
1 Year Returns
-46.8%
DB:CYC
-16.6%
Europe Retail Distributors
-20.4%
DE Market
CYC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Jardine Cycle & Carriage (CYC) -0.8% -29.9% -40.9% -46.8% -61.2% -59.9%
Europe Retail Distributors -1% -23.4% -33.3% -16.6% -32.4% -21.3%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • CYC underperformed the Retail Distributors industry which returned -16.6% over the past year.
  • CYC underperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
CYC
Industry
5yr Volatility vs Market

Value

 Is Jardine Cycle & Carriage 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 Jardine Cycle & Carriage 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 Jardine Cycle & Carriage.

DB:CYC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
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:CYC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Retail Distributors Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.724 (1 + (1- 17%) (156.01%))
1.444
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.44
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.444 * 5.44%)
7.46%

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

The calculations below outline how an intrinsic value for Jardine Cycle & Carriage 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:CYC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.46%)
2020 863.00 Analyst x1 803.05
2021 741.00 Analyst x1 641.63
2022 629.00 Analyst x1 506.82
2023 607.63 Est @ -3.4% 455.59
2024 592.47 Est @ -2.5% 413.36
2025 581.42 Est @ -1.86% 377.48
2026 573.16 Est @ -1.42% 346.27
2027 566.78 Est @ -1.11% 318.63
2028 561.71 Est @ -0.9% 293.84
2029 557.53 Est @ -0.74% 271.40
Present value of next 10 years cash flows $4,428.00
DB:CYC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $557.53 × (1 + -0.39%) ÷ (7.46% – -0.39%)
$7,070.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $7,070.28 ÷ (1 + 7.46%)10
$3,441.71
DB:CYC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $4,428.00 + $3,441.71
$7,869.71
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,869.71 / 395.24
$19.91
DB:CYC Discount to Share Price
Calculation Result
Exchange Rate USD/SGD
(Reporting currency to currency of SGX:C07)
1.431
Value per Share
(SGD)
= Value per Share in USD x Exchange Rate (USD/SGD)
= $19.91 x 1.431
SGD28.5
Non-primary Listing Adjustment Factor 1 share in DB:CYC represents 0.60465x of SGX:C07
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.60465x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 28.50 x 0.60465
€17.23
Value per share (EUR) From above. €17.23
Current discount Discount to share price of €11.70
= -1 x (€11.70 - €17.23) / €17.23
32.1%

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

Current Discount
Amount off the current price Jardine Cycle & Carriage is available for.
Intrinsic value
32%
Share price is €11.7 vs Future cash flow value of €17.23
Current Discount Checks
For Jardine Cycle & Carriage to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Jardine Cycle & Carriage's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Jardine Cycle & Carriage'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 Jardine Cycle & Carriage's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Jardine Cycle & Carriage's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CYC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $2.23
SGX:C07 Share Price ** SGX (2020-04-02) in SGD SGD19.35
SGX:C07 Share Price converted to USD reporting currency Exchange rate (SGD/ USD) 0.699 $13.52
Europe Retail Distributors Industry PE Ratio Median Figure of 18 Publicly-Listed Retail Distributors Companies 9.21x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

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

** Primary Listing of Jardine Cycle & Carriage.

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

= SGX:C07 Share Price ÷ EPS (both in USD)

= 13.52 ÷ 2.23

6.06x

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

  • Jardine Cycle & Carriage is good value based on earnings compared to the Europe Retail Distributors industry average.
  • Jardine Cycle & Carriage is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Jardine Cycle & Carriage's expected growth come at a high price?
Raw Data
DB:CYC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
0.4%per year
Europe Retail Distributors Industry PEG Ratio Median Figure of 5 Publicly-Listed Retail Distributors Companies 0.78x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.06x ÷ 0.4%

14.73x

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

  • Jardine Cycle & Carriage is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Jardine Cycle & Carriage's assets?
Raw Data
DB:CYC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $17.36
SGX:C07 Share Price * SGX (2020-04-02) in SGD SGD19.35
SGX:C07 Share Price converted to USD reporting currency Exchange rate (SGD/ USD) 0.699 $13.52
Europe Retail Distributors Industry PB Ratio Median Figure of 23 Publicly-Listed Retail Distributors Companies 1.04x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:CYC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:C07 Share Price ÷ Book Value per Share (both in USD)

= 13.52 ÷ 17.36

0.78x

* Primary Listing of Jardine Cycle & Carriage.

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

  • Jardine Cycle & Carriage is good value based on assets compared to the Europe Retail Distributors industry average.
X
Value checks
We assess Jardine Cycle & Carriage'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 Retail Distributors 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 Retail Distributors industry average (and greater than 0)? (1 check)
  5. Jardine Cycle & Carriage 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.

Future Performance

 How is Jardine Cycle & Carriage expected to perform in the next 1 to 3 years based on estimates from 3 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
0.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Jardine Cycle & Carriage expected to grow at an attractive rate?
  • Jardine Cycle & Carriage's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Jardine Cycle & Carriage's earnings growth is positive but not above the Germany market average.
  • Jardine Cycle & Carriage's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:CYC Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CYC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 0.4%
DB:CYC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.5%
Europe Retail Distributors Industry Earnings Growth Rate Market Cap Weighted Average -4.9%
Europe Retail Distributors Industry Revenue Growth Rate Market Cap Weighted Average -0.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*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:CYC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CYC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 20,932 1,650 905 3
2021-12-31 19,779 1,690 836 3
2020-12-31 18,140 1,787 792 3
2020-04-02
DB:CYC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 18,591 1,712 881
2019-09-30 18,917 1,395 775
2019-06-30 18,960 1,756 674
2019-03-31 19,065 1,978 597
2018-12-31 18,992 1,995 420
2018-09-30 18,593 2,196 708
2018-06-30 18,172 1,454 713
2018-03-31 17,831 1,746 862
2017-12-31 17,337 1,655 939
2017-09-30 16,859 1,413 793
2017-06-30 16,414 1,621 773
2017-03-31 16,264 1,335 773

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Jardine Cycle & Carriage's earnings are expected to grow by 0.4% yearly, however this is not considered high growth (20% yearly).
  • Jardine Cycle & Carriage's revenue is expected to grow by 4.5% 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:CYC 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 3 Analyst Estimates (S&P Global) See Below

All data from Jardine Cycle & Carriage Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CYC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 2.54 2.78 2.30 2.00
2021-12-31 2.31 2.52 2.10 2.00
2020-12-31 1.94 2.00 1.88 2.00
2020-04-02
DB:CYC Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 2.23
2019-09-30 1.96
2019-06-30 1.71
2019-03-31 1.51
2018-12-31 1.06
2018-09-30 1.79
2018-06-30 1.80
2018-03-31 2.18
2017-12-31 2.38
2017-09-30 2.01
2017-06-30 1.95
2017-03-31 1.96

*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.
  • Jardine Cycle & Carriage is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Jardine Cycle & Carriage'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.
Jardine Cycle & Carriage 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.

Past Performance

  How has Jardine Cycle & Carriage 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 Jardine Cycle & Carriage's growth in the last year to its industry (Retail Distributors).
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.
  • Jardine Cycle & Carriage's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Jardine Cycle & Carriage's 1-year earnings growth exceeds its 5-year average (110.1% vs -0.6%)
  • Jardine Cycle & Carriage's earnings growth has exceeded the Europe Retail Distributors industry average in the past year (110.1% vs 28.4%).
Earnings and Revenue History
Jardine Cycle & Carriage'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 Jardine Cycle & Carriage Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CYC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 18,591.10 881.40 1,944.60
2019-09-30 18,917.30 775.00 2,043.70
2019-06-30 18,960.10 674.10 1,998.60
2019-03-31 19,064.80 596.70 1,960.70
2018-12-31 18,991.80 419.60 1,945.60
2018-09-30 18,592.80 707.70 1,886.60
2018-06-30 18,172.40 713.30 1,898.20
2018-03-31 17,831.20 862.40 1,915.70
2017-12-31 17,336.70 938.80 1,884.40
2017-09-30 16,859.30 792.50 1,773.40
2017-06-30 16,414.10 772.60 1,714.90
2017-03-31 16,263.80 772.80 1,658.80
2016-12-31 15,764.00 701.70 1,623.80
2016-09-30 15,414.30 664.80 1,609.40
2016-06-30 15,184.00 659.40 1,587.40
2016-03-31 15,347.60 654.70 1,601.60
2015-12-31 15,718.30 690.80 1,634.50
2015-09-30 16,499.00 713.60 1,645.50
2015-06-30 17,410.40 746.00 1,715.30
2015-03-31 18,023.30 778.70 1,737.00
2014-12-31 18,675.40 820.20 1,738.20
2014-09-30 18,854.30 886.80 1,673.40
2014-06-30 18,886.80 895.60 1,644.20
2014-03-31 19,247.30 902.30 1,680.90
2013-12-31 19,787.80 915.00 1,729.90
2013-09-30 20,040.60 826.90 1,864.70
2013-06-30 20,732.00 927.90 1,910.40

*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.
  • Jardine Cycle & Carriage has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Jardine Cycle & Carriage used its assets less efficiently than the Europe Retail Distributors industry average last year based on Return on Assets.
  • Jardine Cycle & Carriage has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Jardine Cycle & Carriage'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 Retail Distributors 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.
Jardine Cycle & Carriage 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.

Health

 How is Jardine Cycle & Carriage'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 Jardine Cycle & Carriage's finances.

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

DB:CYC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 14,984.50 8,185.70 1,616.80
2019-09-30 14,438.70 7,975.10 1,739.60
2019-06-30 14,010.60 8,105.00 1,413.20
2019-03-31 14,263.60 7,872.60 1,984.20
2018-12-31 13,492.90 7,334.30 1,761.80
2018-09-30 12,881.30 6,953.70 2,425.40
2018-06-30 12,825.80 7,030.90 1,783.80
2018-03-31 13,761.20 7,180.70 2,340.30
2017-12-31 13,397.90 6,856.10 2,421.40
2017-09-30 12,851.90 5,586.70 2,136.90
2017-06-30 12,616.80 5,909.50 2,330.80
2017-03-31 12,662.70 5,817.50 2,256.80
2016-12-31 12,076.40 5,310.60 2,302.40
2016-09-30 12,002.40 4,931.60 2,058.10
2016-06-30 11,593.60 5,443.50 2,142.70
2016-03-31 11,394.30 5,011.40 2,013.80
2015-12-31 10,727.00 5,151.90 1,959.30
2015-09-30 10,469.50 4,954.00 1,651.00
2015-06-30 10,333.50 5,921.50 1,358.70
2015-03-31 10,715.70 5,272.20 1,605.20
2014-12-31 10,798.60 5,697.10 1,407.70
2014-09-30 10,745.60 5,586.90 1,315.40
2014-06-30 10,563.90 5,423.80 1,190.00
2014-03-31 11,168.50 5,504.20 1,307.80
2013-12-31 9,883.00 5,373.10 1,334.60
2013-09-30 9,823.60 5,409.10 1,240.00
2013-06-30 10,941.00 6,123.10 1,241.50
  • Jardine Cycle & Carriage's level of debt (54.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (52.7% vs 54.6% today).
  • Debt is well covered by operating cash flow (20.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.1x coverage).
X
Financial health checks
We assess Jardine Cycle & Carriage'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. Jardine Cycle & Carriage has a total score of 4/6, 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.

Dividends

 What is Jardine Cycle & Carriage'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
6.43%
Current annual income from Jardine Cycle & Carriage dividends. Estimated to be 5.88% next year.
If you bought €2,000 of Jardine Cycle & Carriage shares you are expected to receive €129 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?
  • Jardine Cycle & Carriage's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Jardine Cycle & Carriage's dividend is above the markets top 25% of dividend payers in Germany (4.86%).
Upcoming dividend payment

Purchase Jardine Cycle & Carriage before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:CYC 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 3 Analyst Estimates (S&P Global) See Below
Europe Retail Distributors Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 4.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 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:CYC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.86 3.00
2021-12-31 0.79 3.00
2020-12-31 0.74 3.00
2020-04-02
DB:CYC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-27 0.870 5.763
2019-09-05 0.870 3.902
2019-05-23 0.870 3.524
2018-04-26 0.860 3.483
2017-04-28 0.740 2.498
2016-07-29 0.690 2.276
2016-02-26 0.690 2.556
2015-04-29 0.850 3.568
2014-08-01 1.080 3.376
2014-02-27 1.080 3.035
2013-08-02 1.230 4.300
2013-02-28 1.230 3.328
2012-02-29 1.230 3.211
2011-07-29 0.980 2.713
2011-02-25 0.980 3.148
2010-03-01 0.580 2.371
2010-02-26 0.580 3.353
2009-08-07 0.470 2.679

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Jardine Cycle & Carriage's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess Jardine Cycle & Carriage'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 Jardine Cycle & Carriage afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Jardine Cycle & Carriage has a total score of 5/6, see the detailed checks below.


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

Management

 What is the CEO of Jardine Cycle & Carriage'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
Benjamin Birks
TENURE AS CEO 0.6 years
CEO Bio

Mr. Benjamin Birks has been Group Managing Director and Executive Director at Jardine Cycle & Carriage Limited since September 30, 2019.

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

Average tenure and age of the Jardine Cycle & Carriage management team in years:

5.1
Average Tenure
53
Average Age
  • The average tenure for the Jardine Cycle & Carriage management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jeffery Tan

TITLE
Director of Legal & Corporate Affairs
COMPENSATION
$23K
AGE
58
TENURE
4 yrs

Benjamin Birks

TITLE
Group MD & Director
TENURE
0.6 yrs

Stephen Gore

TITLE
Group Finance Director & Director
AGE
47
TENURE
1 yrs

Jason Wen

TITLE
Director of Human Resources

Alan Cockrell

TITLE
Managing Director of Truck Investments In New Zealand

Stuart Jamieson

TITLE
Managing Director of Group's Dealership Operations

Kim Teck Cheah

TITLE
Managing Director of Business Development
COMPENSATION
$412K
AGE
67
TENURE
6.2 yrs

Eric Chan

TITLE
MD of Direct Motor Interests and MD of Cycle & Carriage Singapore
AGE
50
TENURE
8.3 yrs

Chee Keon Liew

TITLE
Chief Executive Officer of Australian Motor Operations
TENURE
26.3 yrs

Kin Foo Wong

TITLE
Chief Executive Officer of Cycle & Carriage Bintang
AGE
53
Board of Directors Tenure

Average tenure and age of the Jardine Cycle & Carriage board of directors in years:

7.1
Average Tenure
60
Average Age
  • The tenure for the Jardine Cycle & Carriage board of directors is about average.
Board of Directors

Ben Keswick

TITLE
Chairman
COMPENSATION
$165K
AGE
47
TENURE
8 yrs

Benjamin Birks

TITLE
Group MD & Director
TENURE
0.6 yrs

Stephen Gore

TITLE
Group Finance Director & Director
AGE
47
TENURE
1 yrs

Vimala V. Menon

TITLE
Non-Executive & Independent Director
COMPENSATION
$70K
AGE
64
TENURE
3 yrs

Datuk Hassan Abas

TITLE
Non Executive & Lead Independent Director
COMPENSATION
$145K
AGE
65
TENURE
7.2 yrs

Hwee Hua Lim

TITLE
Non-Executive & Independent Director
COMPENSATION
$101K
AGE
60
TENURE
8.8 yrs

Anthony John Liddell Nightingale

TITLE
Non-Executive & Independent Director
COMPENSATION
$75K
AGE
72
TENURE
27.2 yrs

Mark Spencer Greenberg

TITLE
Non-Executive Director
COMPENSATION
$101K
AGE
50
TENURE
13.8 yrs

Michael Kok

TITLE
Non-Executive & Independent Director
COMPENSATION
$76K
AGE
67
TENURE
7 yrs

Raden Mohammad Marty Natalegawa

TITLE
Non-Executive & Independent Director
COMPENSATION
$76K
AGE
55
TENURE
5.2 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 (€)
X
Management checks
We assess Jardine Cycle & Carriage'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. Jardine Cycle & Carriage 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.

News

Simply Wall St News

Company Info

Description

Jardine Cycle & Carriage Limited, an investment holding company, engages in automotive, financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally. Its automotive business manufactures, assembles, distributes, and retails motor vehicles and motorcycles; and manufactures and distributes automotive components, as well as provides after-sales services. The company’s financial services business provides consumer financing for motor vehicles and motorcycles, as well as offers heavy equipment financing, banking, and general and life insurance services. Its heavy equipment and mining business supplies construction and mining equipment, and offers after-sales services; and provides coal mining contractor services, as well as distributes Komatsu heavy equipment. The company’s agribusiness includes the cultivation, harvesting, processing, and production of palm oil. Its infrastructure and logistics business develops and manages toll roads. The company’s information technology business provides document information and communication technology solutions; and distributes Fuji Xerox office equipment. Its property business engages in the development of office buildings, as well as residential projects. The company was formerly known as Cycle & Carriage Ltd. and changed its name to Jardine Cycle & Carriage Limited in 2004. The company was founded in 1899 and is based in Singapore. Jardine Cycle & Carriage Limited is a subsidiary of Jardine Strategic Singapore Pte Ltd.

Details
Name: Jardine Cycle & Carriage Limited
CYC
Exchange: DB
Founded: 1899
SGD4,912,342,563
395,236,288
Website: http://www.jcclgroup.com
Address: Jardine Cycle & Carriage Limited
239 Alexandra Road,
Singapore,
159930,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX C07 Ordinary Shares Singapore Exchange SG SGD 14. Sep 1993
OTCPK JCYC.F Ordinary Shares Pink Sheets LLC US USD 14. Sep 1993
DB CYC Ordinary Shares Deutsche Boerse AG DE EUR 14. Sep 1993
OTCPK JCYG.Y ADR Pink Sheets LLC US USD 21. Sep 2004
Number of employees
Current staff
Staff numbers
250,000
Jardine Cycle & Carriage employees.
Industry
Distributors
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 22:08
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/02/27
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.