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Beijing Capital International Airport

DB:BJ1
Snowflake Description

Very undervalued with high growth potential and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BJ1
DB
HK$23B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Beijing Capital International Airport Company Limited engages in the aeronautical and non-aeronautical businesses at the Beijing Capital Airport in the People’s Republic of China. The last earnings update was 4 days ago. More info.


Add to Portfolio Compare Print
  • Beijing Capital International Airport has significant price volatility in the past 3 months.
BJ1 Share Price and Events
7 Day Returns
2.7%
DB:BJ1
6.6%
DE Infrastructure
7.3%
DE Market
1 Year Returns
-31.1%
DB:BJ1
-42.7%
DE Infrastructure
-17.7%
DE Market
BJ1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Beijing Capital International Airport (BJ1) 2.7% -14.7% -30.1% -31.1% -48.7% -40.6%
DE Infrastructure 6.6% -32.4% -48.6% -42.7% -41.2% -17.3%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • BJ1 outperformed the Infrastructure industry which returned -42.7% over the past year.
  • BJ1 underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
BJ1
Industry
5yr Volatility vs Market

Value

 Is Beijing Capital International Airport 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 Beijing Capital International Airport 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 Beijing Capital International Airport.

DB:BJ1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.2%
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:BJ1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 25%) (16.29%))
0.878
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.878 * 6.33%)
5.17%

Discounted Cash Flow Calculation for DB:BJ1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Beijing Capital International Airport 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:BJ1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 5.17%)
2020 385.25 Analyst x4 366.33
2021 1,115.40 Analyst x5 1,008.51
2022 2,061.00 Analyst x1 1,771.96
2023 2,849.31 Est @ 38.25% 2,329.38
2024 3,608.86 Est @ 26.66% 2,805.41
2025 4,278.06 Est @ 18.54% 3,162.26
2026 4,828.35 Est @ 12.86% 3,393.71
2027 5,257.46 Est @ 8.89% 3,513.80
2028 5,578.38 Est @ 6.1% 3,545.14
2029 5,810.21 Est @ 4.16% 3,511.09
Present value of next 10 years cash flows CN¥25,407.00
DB:BJ1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥5,810.21 × (1 + -0.39%) ÷ (5.17% – -0.39%)
CN¥104,169.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥104,169.43 ÷ (1 + 5.17%)10
CN¥62,949.31
DB:BJ1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥25,407.00 + CN¥62,949.31
CN¥88,356.31
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥88,356.31 / 4,579.18
CN¥19.3
DB:BJ1 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:694)
1.092
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥19.3 x 1.092
HK$21.08
Non-primary Listing Adjustment Factor 1 share in DB:BJ1 represents 0.116x of SEHK:694
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.116x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 21.08 x 0.116
€2.44
Value per share (EUR) From above. €2.44
Current discount Discount to share price of €0.58
= -1 x (€0.58 - €2.44) / €2.44
76.3%

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

Current Discount
Amount off the current price Beijing Capital International Airport is available for.
Intrinsic value
>50%
Share price is €0.58 vs Future cash flow value of €2.44
Current Discount Checks
For Beijing Capital International Airport to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Beijing Capital International Airport's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Beijing Capital International Airport'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 Beijing Capital International Airport's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Beijing Capital International Airport's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BJ1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥0.55
SEHK:694 Share Price ** SEHK (2020-03-30) in HKD HK$5
SEHK:694 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥4.58
Europe Infrastructure Industry PE Ratio Median Figure of 38 Publicly-Listed Infrastructure Companies 11.07x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

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

** Primary Listing of Beijing Capital International Airport.

DB:BJ1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:694 Share Price ÷ EPS (both in CNY)

= 4.58 ÷ 0.55

8.26x

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

  • Beijing Capital International Airport is good value based on earnings compared to the Europe Infrastructure industry average.
  • Beijing Capital International Airport is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Beijing Capital International Airport's expected growth come at a high price?
Raw Data
DB:BJ1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
25.7%per year
Europe Infrastructure Industry PEG Ratio Median Figure of 18 Publicly-Listed Infrastructure Companies 1.18x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:BJ1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.26x ÷ 25.7%

0.32x

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

  • Beijing Capital International Airport is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Beijing Capital International Airport's assets?
Raw Data
DB:BJ1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥5.45
SEHK:694 Share Price * SEHK (2020-03-30) in HKD HK$5
SEHK:694 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥4.58
Germany Infrastructure Industry PB Ratio Median Figure of 5 Publicly-Listed Infrastructure Companies 0.96x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:BJ1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:694 Share Price ÷ Book Value per Share (both in CNY)

= 4.58 ÷ 5.45

0.84x

* Primary Listing of Beijing Capital International Airport.

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

  • Beijing Capital International Airport is good value based on assets compared to the DE Infrastructure industry average.
X
Value checks
We assess Beijing Capital International Airport'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 Infrastructure 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 Infrastructure industry average (and greater than 0)? (1 check)
  5. Beijing Capital International Airport has a total score of 6/6, 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 Beijing Capital International Airport expected to perform in the next 1 to 3 years based on estimates from 14 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
25.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Beijing Capital International Airport expected to grow at an attractive rate?
  • Beijing Capital International Airport's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Beijing Capital International Airport's earnings growth is expected to exceed the Germany market average.
  • Beijing Capital International Airport's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BJ1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BJ1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 25.7%
DB:BJ1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 22%
Europe Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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:BJ1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BJ1 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 123,200 28,300 1
2022-12-31 26,110 2,724 6,379 6
2021-12-31 8,943 2,958 1,133 14
2020-12-31 7,762 2,015 553 10
2020-03-30
DB:BJ1 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 10,810 2,419
2019-09-30 11,066 2,547
2019-06-30 11,321 4,788 2,675
2019-03-31 11,292 4,739 2,774
2018-12-31 11,263 4,690 2,872
2018-09-30 10,772 4,442 2,847
2018-06-30 10,282 4,193 2,823
2018-03-31 9,928 4,232 2,712
2017-12-31 9,575 4,271 2,600
2017-09-30 9,335 4,355 2,370
2017-06-30 9,095 4,439 2,140
2017-03-31 8,886 4,525 1,960

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Beijing Capital International Airport's earnings are expected to grow significantly at over 20% yearly.
  • Beijing Capital International Airport'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:BJ1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Beijing Capital International Airport Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BJ1 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.62 0.62 0.62 1.00
2022-12-31 0.29 0.49 0.12 6.00
2021-12-31 0.25 0.39 0.12 15.00
2020-12-31 0.14 0.24 0.00 12.00
2020-03-30
DB:BJ1 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 0.55
2019-09-30 0.59
2019-06-30 0.62
2019-03-31 0.64
2018-12-31 0.66
2018-09-30 0.66
2018-06-30 0.65
2018-03-31 0.63
2017-12-31 0.60
2017-09-30 0.55
2017-06-30 0.49
2017-03-31 0.45

*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.
  • Beijing Capital International Airport is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Beijing Capital International Airport'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.
Beijing Capital International Airport has a total score of 5/6, 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 Beijing Capital International Airport 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 Beijing Capital International Airport's growth in the last year to its industry (Infrastructure).
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.
  • Beijing Capital International Airport's year on year earnings growth rate has been positive over the past 5 years.
  • Beijing Capital International Airport's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Beijing Capital International Airport's 1-year earnings growth is negative, it can't be compared to the Europe Infrastructure industry average.
Earnings and Revenue History
Beijing Capital International Airport'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 Beijing Capital International Airport Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BJ1 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 10,810.48 2,419.37
2019-09-30 11,065.63 2,547.39 21.11
2019-06-30 11,320.79 2,675.41 42.22
2019-03-31 11,291.65 2,773.73 42.22
2018-12-31 11,262.51 2,872.06 42.22
2018-09-30 10,772.38 2,847.49 35.33
2018-06-30 10,282.25 2,822.93 28.43
2018-03-31 9,928.38 2,711.69 28.43
2017-12-31 9,574.52 2,600.46 28.43
2017-09-30 9,334.61 2,370.16 28.43
2017-06-30 9,094.70 2,139.87 28.43
2017-03-31 8,886.25 1,960.43 28.43
2016-12-31 8,677.79 1,781.00 28.43
2016-09-30 8,583.89 1,750.75 28.32
2016-06-30 8,489.98 1,720.50 28.20
2016-03-31 8,438.60 1,681.21 28.20
2015-12-31 8,387.22 1,641.92 28.20
2015-09-30 8,194.82 1,591.18 22.27
2015-06-30 8,002.42 1,540.44 16.34
2015-03-31 7,779.50 1,465.84 16.34
2014-12-31 7,556.58 1,391.23 16.34
2014-09-30 7,427.76 1,362.32 16.33
2014-06-30 7,298.94 1,333.42 16.32
2014-03-31 7,214.93 1,331.22 16.32
2013-12-31 7,130.92 1,329.02 16.32
2013-09-30 7,015.41 1,296.44 16.31
2013-06-30 6,899.89 1,263.85 16.30
2013-03-31 6,761.42 1,206.46 16.30

*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.
  • Beijing Capital International Airport has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Beijing Capital International Airport used its assets more efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • Beijing Capital International Airport has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Beijing Capital International Airport'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 Infrastructure 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.
Beijing Capital International Airport 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 Beijing Capital International Airport'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 Beijing Capital International Airport's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Beijing Capital International Airport's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Beijing Capital International Airport's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Beijing Capital International Airport'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 1.5x 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 Beijing Capital International Airport Company Filings, last reported 2 months ago.

DB:BJ1 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 24,960.90 2,287.53 1,715.38
2019-09-30 24,960.90 2,287.53 1,715.38
2019-06-30 24,077.94 3,325.40 2,290.71
2019-03-31 24,077.94 3,325.40 2,290.71
2018-12-31 23,413.19 4,906.06 2,312.83
2018-09-30 23,413.19 4,906.06 2,312.83
2018-06-30 22,286.82 4,922.58 2,963.53
2018-03-31 22,286.82 4,922.58 2,963.53
2017-12-31 21,429.82 4,998.89 1,614.65
2017-09-30 21,429.82 4,998.89 1,614.65
2017-06-30 20,229.73 7,661.05 2,839.19
2017-03-31 20,229.73 7,661.05 2,839.19
2016-12-31 19,378.32 10,803.20 4,530.37
2016-09-30 19,378.32 10,803.20 4,530.37
2016-06-30 18,760.26 10,674.63 2,682.46
2016-03-31 18,760.26 10,674.63 2,682.46
2015-12-31 18,268.99 11,683.11 2,112.87
2015-09-30 18,268.99 11,683.11 2,112.87
2015-06-30 17,666.57 12,131.53 2,682.31
2015-03-31 17,666.57 12,131.53 2,682.31
2014-12-31 17,202.37 12,212.41 2,184.27
2014-09-30 17,202.37 12,212.41 2,184.27
2014-06-30 16,576.39 12,803.67 2,041.40
2014-03-31 16,576.39 12,803.67 2,041.40
2013-12-31 16,211.78 13,859.42 2,052.28
2013-09-30 16,211.78 13,859.42 2,052.28
2013-06-30 15,593.37 14,471.41 1,890.39
2013-03-31 15,593.37 14,471.41 1,890.39
  • Beijing Capital International Airport's level of debt (9.2%) 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 (71% vs 9.2% today).
  • Debt is well covered by operating cash flow (209.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 27.2x coverage).
X
Financial health checks
We assess Beijing Capital International Airport'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. Beijing Capital International Airport 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.

Dividends

 What is Beijing Capital International Airport'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
5.3%
Current annual income from Beijing Capital International Airport dividends. Estimated to be 2.46% next year.
If you bought €2,000 of Beijing Capital International Airport shares you are expected to receive €106 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?
  • Beijing Capital International Airport's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Beijing Capital International Airport's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
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:BJ1 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 14 Analyst Estimates (S&P Global) See Below
Europe Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 6.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

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

DB:BJ1 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.12 4.00
2021-12-31 0.13 13.00
2020-12-31 0.10 14.00
2020-03-30
DB:BJ1 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2020-03-26 0.243 5.252
2019-04-24 0.265 4.403
2019-03-27 0.265 4.303
2018-04-20 0.240 3.248
2018-03-28 0.240 2.711
2017-04-10 0.165 1.643
2017-03-21 0.165 1.981
2016-06-29 0.154 2.180
2016-04-22 0.152 2.188
2016-03-22 0.152 2.158
2015-06-24 0.130 2.055
2015-04-22 0.129 1.874
2015-03-25 0.129 1.943
2014-05-16 0.123 2.566
2013-04-25 0.108 2.518
2013-03-18 0.108 2.467
2012-08-23 0.099 2.181
2012-03-30 0.119 2.958
2011-08-19 0.036 1.193
2011-03-21 0.000 0.000
2010-04-21 0.034 0.941
2010-03-25 0.030 0.733
2010-03-22 0.034 0.810
2009-08-26 0.000 0.000
2009-08-17 0.000 0.000
2009-04-27 0.000 0.000

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 Beijing Capital International Airport's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Beijing Capital International Airport's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Beijing Capital International Airport afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Beijing Capital International Airport 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 Beijing Capital International Airport'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
Zhiliang Han
COMPENSATION CN¥905,000
AGE 54
TENURE AS CEO 4 years
CEO Bio

Mr. Zhiliang Han has been General Manager of Beijing Capital International Airport Company Limited since March 22, 2016 and has been its Executive Director since August 25, 2016. Mr. Han has been the vice general manager and a member of the party committee of Capital Airports Holding Company since June 2014. Mr. Han served as officer, deputy director, chief of Inner Mongolia Bureau under Civil Aviation Administration of China and the chief of Human Resources and Education Division of Inner Mongolia Airports Group. From March 2004 to July 2009, he served as the Vice General Manager and a member of the party committee of Inner Mongolia Airport Group Company Limited and then as a Director, the General Manager, Deputy Party Secretary, General Manager and Deputy Party Secretary. From July 2009 to April 2015, he served as the General Manager and a Deputy Secretary of the party committee of Hubei Airports Holding Company from June 2014 to April 2015, he served as the Vice General Manager and a member of the party committee of Capital Airports Holding Company. Mr. Han holds a Bachelor's degree in History from Inner Mongolia University and a Master's degree in Management Science and Engineering from Chinese Academy of Agricultural Sciences.

CEO Compensation
  • Zhiliang's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Zhiliang's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Beijing Capital International Airport management team in years:

2.7
Average Tenure
54
Average Age
  • The tenure for the Beijing Capital International Airport management team is about average.
Management Team

Xuesong Liu

TITLE
Chairman
AGE
54

Zhiliang Han

TITLE
GM & Executive Director
COMPENSATION
CN¥905K
AGE
54
TENURE
4 yrs

Lijia Gao

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥1M
AGE
54

Xianshan Deng

TITLE
Deputy General Manger
COMPENSATION
CN¥588K
AGE
54
TENURE
1.3 yrs

Stephen Mok

TITLE
Joint Company Secretary
AGE
54
TENURE
3.3 yrs

Xianwei Meng

TITLE
Secretary to the Board
AGE
43
TENURE
2 yrs
Board of Directors Tenure

Average tenure and age of the Beijing Capital International Airport board of directors in years:

5.8
Average Tenure
55.5
Average Age
  • The tenure for the Beijing Capital International Airport board of directors is about average.
Board of Directors

Xuesong Liu

TITLE
Chairman
AGE
54
TENURE
5.8 yrs

Zhiliang Han

TITLE
GM & Executive Director
COMPENSATION
CN¥905K
AGE
54
TENURE
3.6 yrs

Lijia Gao

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥1M
AGE
54
TENURE
5.8 yrs

Japhet Sebastian Law

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥150K
AGE
67
TENURE
11.8 yrs

Guibin Liu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥150K
AGE
53
TENURE
8.8 yrs

Ruiming Jiang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥150K
AGE
53
TENURE
8.8 yrs

Shengli Song

TITLE
Chairman of Supervisory Committee
COMPENSATION
CN¥143K
AGE
57
TENURE
3.8 yrs

Shiqing Gao

TITLE
Non-Executive Director
AGE
58
TENURE
14.8 yrs

Yabo Yao

TITLE
Non-Executive Director
AGE
57
TENURE
5.8 yrs

Zheng Ma

TITLE
Non-Executive Director
AGE
61
TENURE
5.3 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 (€)
21. Mar 20 Buy Causeway Capital Management LLC Company 19. Mar 20 19. Mar 20 10,000,000 €0.57 €5,719,301
20. Mar 20 Sell Matthews International Capital Management, LLC Company 18. Mar 20 18. Mar 20 -2,074,000 €0.62 €-1,277,371
03. Jan 20 Buy Hermes Investment Management Limited Company 31. Dec 19 31. Dec 19 816,000 €0.86 €703,882
30. Nov 19 Sell BlackRock, Inc. Company 27. Nov 19 27. Nov 19 -1,020,005 €0.87 €-887,653
25. Oct 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 22. Oct 19 22. Oct 19 -10,689,147 €0.90 €-9,619,476
23. Oct 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 18. Oct 19 18. Oct 19 11,013,612 €0.90 €9,966,410
23. Oct 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 18. Oct 19 18. Oct 19 -36,000 €0.90 €-32,577
23. Oct 19 Sell China International Fund Management Company Limited Company 18. Oct 19 18. Oct 19 -260,000 €0.90 €-235,279
22. Oct 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 17. Oct 19 17. Oct 19 -9,276,110 €0.92 €-8,553,792
18. Oct 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 15. Oct 19 15. Oct 19 12,018,957 €0.93 €11,121,155
08. Oct 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 03. Oct 19 03. Oct 19 -152,000 €0.78 €-118,465
07. Oct 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 02. Oct 19 02. Oct 19 20,580,830 €0.78 €16,073,734
08. Oct 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. Oct 19 03. Oct 19 -3,986,130 €0.78 €-3,106,700
12. Sep 19 Sell Fortland Ventures Limited Company 09. Sep 19 09. Sep 19 -120,170,000 €0.75 €-90,106,985
09. Aug 19 Sell Hermes Investment Management Limited Company 08. Aug 19 08. Aug 19 -1,050,000 €0.68 €-710,946
05. Aug 19 Buy GIC Pte. Ltd. Company 01. Aug 19 01. Aug 19 1,380,000 €0.72 €998,931
31. Jul 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 26. Jul 19 26. Jul 19 -2,333,352 €0.72 €-1,673,175
29. Jul 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 24. Jul 19 24. Jul 19 750,137 €0.72 €542,678
25. Jul 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 22. Jul 19 22. Jul 19 -1,528,000 €0.73 €-1,112,968
24. Jul 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 19. Jul 19 19. Jul 19 9,343,286 €0.74 €6,924,947
11. Jul 19 Sell GIC Pte. Ltd. Company 10. Jul 19 10. Jul 19 -172,000 €0.77 €-132,262
25. Jun 19 Buy Fortland Ventures Limited Company 25. Jun 19 25. Jun 19 120,172,000 €0.73 €88,120,618
20. Jun 19 Buy GIC Pte. Ltd. Company 19. Jun 19 19. Jun 19 60,000 €0.77 €46,038
24. May 19 Buy Hermes Investment Management Limited Company 23. May 19 23. May 19 1,278,000 €0.74 €940,737
23. May 19 Buy Hermes Investment Management Limited Company 22. May 19 22. May 19 974,000 €0.76 €736,685
18. Apr 19 Sell BlackRock, Inc. Company 15. Apr 19 15. Apr 19 -1,870,000 €0.81 €-1,507,486
X
Management checks
We assess Beijing Capital International Airport'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. Beijing Capital International Airport 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

Beijing Capital International Airport Company Limited engages in the aeronautical and non-aeronautical businesses at the Beijing Capital Airport in the People’s Republic of China. The company’s aeronautical business is involved in the provision of aircraft landings and take-offs; passenger service facilities; ground support services; and fire-fighting services for domestic and foreign air transportation enterprises. Its non-aeronautical business includes the franchise-based operation of ground handling agent services for domestic and foreign airliners; in-flight catering services; duty free and other retail shops in the terminals, as well as restaurants and other catering businesses in terminals; leasing advertising spaces inside and outside the terminals; and other businesses. The company’s non-aeronautical business also comprises the leasing of properties in the terminals; provision of car parking services; and provision of ground handling facilities for ground handling agent companies. As of December 31, 2018, the company had 105 airliners operating fixed commercial flights at the Beijing Capital Airport, including 29 domestic airliners and 69 airliners from foreign countries, as well as 7 airliners from Hong Kong, Macau, and Taiwan; and operated 296 flight points linking with the Beijing Capital Airport, including 160 domestic flight points and 136 international flight points. The company was incorporated in 1999 and is based in Beijing, the People’s Republic of China. Beijing Capital International Airport Company Limited is a subsidiary of Capital Airports Holding Company.

Details
Name: Beijing Capital International Airport Company Limited
BJ1
Exchange: DB
Founded: 1999
HK$2,676,390,517
4,579,178,977
Website: http://www.bcia.com.cn
Address: Beijing Capital International Airport Company Limited
Capital Airport,
Beijing,
100621,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 694 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 01. Feb 2000
OTCPK BJCH.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 01. Feb 2000
DB BJ1 Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 01. Feb 2000
SHSC 694 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 01. Feb 2000
SZSC 694 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 01. Feb 2000
OTCPK BJCH.Y UNSPONSORED ADR Pink Sheets LLC US USD 13. Oct 2008
Number of employees
Current staff
Staff numbers
1,583
Beijing Capital International Airport employees.
Industry
Airport Services
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 21:09
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/03/26
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.