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COSCO SHIPPING Holdings

DB:C6G
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
C6G
DB
HK$64B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

COSCO SHIPPING Holdings Co., Ltd., an investment holding company, engages in the container shipping, container terminals, and other businesses worldwide. The last earnings update was 44 days ago. More info.


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C6G Share Price and Events
7 Day Returns
7.1%
DB:C6G
4.1%
Europe Shipping
2.8%
DE Market
1 Year Returns
4.1%
DB:C6G
6.2%
Europe Shipping
3%
DE Market
C6G Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
COSCO SHIPPING Holdings (C6G) 7.1% -4.4% -1.2% 4.1% 8.9% 6.1%
Europe Shipping 4.1% -1.6% 9.8% 6.2% 6.6% -14.5%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • C6G underperformed the Shipping industry which returned 6.2% over the past year.
  • C6G outperformed the Market in Germany which returned 3% over the past year.
Price Volatility
C6G
Industry
5yr Volatility vs Market

Value

 Is COSCO SHIPPING Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of COSCO SHIPPING Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for COSCO SHIPPING Holdings.

DB:C6G Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.8%
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:C6G
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 25%) (260.13%))
1.779
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.78
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.779 * 5.96%)
10.83%

Discounted Cash Flow Calculation for DB:C6G using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for COSCO SHIPPING Holdings 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:C6G DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.83%)
2020 7,643.00 Analyst x1 6,895.92
2021 7,966.00 Analyst x1 6,484.81
2022 8,183.89 Est @ 2.74% 6,010.98
2023 8,346.19 Est @ 1.98% 5,530.98
2024 8,467.75 Est @ 1.46% 5,063.03
2025 8,559.88 Est @ 1.09% 4,617.83
2026 8,630.93 Est @ 0.83% 4,201.04
2027 8,686.98 Est @ 0.65% 3,815.01
2028 8,732.41 Est @ 0.52% 3,460.11
2029 8,770.35 Est @ 0.43% 3,135.46
Present value of next 10 years cash flows CN¥49,215.00
DB:C6G DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥8,770.35 × (1 + 0.23%) ÷ (10.83% – 0.23%)
CN¥82,883.76
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥82,883.76 ÷ (1 + 10.83%)10
CN¥29,631.51
DB:C6G Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥49,215.00 + CN¥29,631.51
CN¥78,846.51
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥78,846.51 / 12,259.53
CN¥6.43
DB:C6G Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1919)
1.107
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥6.43 x 1.107
HK$7.12
Non-primary Listing Adjustment Factor 1 share in DB:C6G represents 0.11293x of SEHK:1919
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11293x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 7.12 x 0.11293
€0.80
Value per share (EUR) From above. €0.80
Current discount Discount to share price of €0.33
= -1 x (€0.33 - €0.80) / €0.80
58.7%

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

Current Discount
Amount off the current price COSCO SHIPPING Holdings is available for.
Intrinsic value
>50%
Share price is €0.332 vs Future cash flow value of €0.80372
Current Discount Checks
For COSCO SHIPPING Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • COSCO SHIPPING Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • COSCO SHIPPING Holdings'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 COSCO SHIPPING Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are COSCO SHIPPING Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:C6G PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CNY CN¥0.20
SEHK:1919 Share Price ** SEHK (2019-10-11) in HKD HK$2.94
SEHK:1919 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.904 CN¥2.66
Europe Shipping Industry PE Ratio Median Figure of 26 Publicly-Listed Shipping Companies 11.43x
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 COSCO SHIPPING Holdings.

DB:C6G PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1919 Share Price ÷ EPS (both in CNY)

= 2.66 ÷ 0.20

13.5x

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

  • COSCO SHIPPING Holdings is overvalued based on earnings compared to the Europe Shipping industry average.
  • COSCO SHIPPING Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does COSCO SHIPPING Holdings's expected growth come at a high price?
Raw Data
DB:C6G PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
21.2%per year
Europe Shipping Industry PEG Ratio Median Figure of 14 Publicly-Listed Shipping Companies 0.79x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

DB:C6G PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.5x ÷ 21.2%

0.64x

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

  • COSCO SHIPPING Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on COSCO SHIPPING Holdings's assets?
Raw Data
DB:C6G PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CNY CN¥2.40
SEHK:1919 Share Price * SEHK (2019-10-11) in HKD HK$2.94
SEHK:1919 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.904 CN¥2.66
Europe Shipping Industry PB Ratio Median Figure of 43 Publicly-Listed Shipping Companies 0.76x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:C6G PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1919 Share Price ÷ Book Value per Share (both in CNY)

= 2.66 ÷ 2.40

1.11x

* Primary Listing of COSCO SHIPPING Holdings.

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

  • COSCO SHIPPING Holdings is overvalued based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess COSCO SHIPPING Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Shipping 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 Shipping industry average (and greater than 0)? (1 check)
  5. COSCO SHIPPING Holdings 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 COSCO SHIPPING Holdings expected to perform in the next 1 to 3 years based on estimates from 7 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
21.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is COSCO SHIPPING Holdings expected to grow at an attractive rate?
  • COSCO SHIPPING Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • COSCO SHIPPING Holdings's earnings growth is expected to exceed the Germany market average.
  • COSCO SHIPPING Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:C6G Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:C6G Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 21.2%
DB:C6G Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 4.9%
Europe Shipping Industry Earnings Growth Rate Market Cap Weighted Average 23.5%
Europe Shipping Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:C6G Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:C6G Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 166,715 12,966 4,378 3
2020-12-31 160,092 10,249 2,758 6
2019-12-31 152,006 9,643 3,076 7
2019-10-13
DB:C6G Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-06-30 146,863 17,131 2,231
2019-03-31 132,988 12,752 1,541
2018-12-31 119,837 8,131 1,034
2018-09-30 104,995 6,361 789
2018-06-30 92,071 5,777 839
2018-03-31 92,286 7,207 2,573
2017-12-31 90,464 7,092 2,662
2017-09-30 88,627 7,207 2,007
2017-06-30 83,476 3,221 -874
2017-03-31 77,693 1,394 -5,176
2016-12-31 71,160 1,520 -9,906
2016-09-30 65,469 564 -9,030

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • COSCO SHIPPING Holdings's earnings are expected to grow significantly at over 20% yearly.
  • COSCO SHIPPING Holdings's revenue is expected to grow by 4.9% 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:C6G 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 7 Analyst Estimates (S&P Global) See Below

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

DB:C6G Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.04 0.04 0.04 1.00
2020-12-31 0.21 0.30 0.15 3.00
2019-12-31 0.14 0.16 0.12 3.00
2019-10-13
DB:C6G Past Financials Data
Date (Data in CNY Millions) EPS *
2019-06-30 0.20
2019-03-31 0.14
2018-12-31 0.10
2018-09-30 0.08
2018-06-30 0.08
2018-03-31 0.25
2017-12-31 0.26
2017-09-30 0.20
2017-06-30 -0.09
2017-03-31 -0.52
2016-12-31 -0.97
2016-09-30 -1.01

*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.
  • COSCO SHIPPING Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess COSCO SHIPPING Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
COSCO SHIPPING Holdings has a total score of 3/6, 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 COSCO SHIPPING Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare COSCO SHIPPING Holdings's growth in the last year to its industry (Shipping).
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.
  • COSCO SHIPPING Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • COSCO SHIPPING Holdings's 1-year earnings growth exceeds its 5-year average (165.8% vs 10.9%)
  • COSCO SHIPPING Holdings's earnings growth has exceeded the Europe Shipping industry average in the past year (165.8% vs -1%).
Earnings and Revenue History
COSCO SHIPPING Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

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

DB:C6G Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 146,862.52 2,230.51 9,385.64 18.49
2019-03-31 132,988.29 1,540.55 8,030.40 20.35
2018-12-31 119,836.56 1,034.07 6,933.31 19.69
2018-09-30 104,995.27 788.65 6,281.72 13.33
2018-06-30 92,070.51 839.26 5,277.28 14.66
2018-03-31 92,285.88 2,572.67 5,297.97 13.57
2017-12-31 90,463.96 2,661.94 5,229.57 13.57
2017-09-30 88,627.33 2,006.58 4,585.67 2.93
2017-06-30 83,475.87 -873.85 4,340.53 1.74
2017-03-31 77,693.01 -5,175.54 4,042.66
2016-12-31 71,160.18 -9,906.00 4,118.76
2016-09-30 65,468.97 -9,029.54 4,333.34
2016-06-30 62,372.33 -8,673.49 4,515.35
2016-03-31 60,429.53 -2,982.94 4,726.16
2015-12-31 65,035.59 469.30 4,735.35
2015-09-30 66,645.60 1,338.97 4,317.36
2015-06-30 68,250.31 4,613.36 4,264.04
2015-03-31 68,340.62 1,234.60 4,299.75
2014-12-31 64,374.46 362.53 4,182.31
2014-09-30 63,263.70 1,614.65 4,127.44
2014-06-30 61,660.78 -1,051.29 4,093.25
2014-03-31 60,903.58 343.34 4,073.54
2013-12-31 61,934.14 235.47 4,361.17
2013-09-30 64,467.46 -5,189.84 4,651.81
2013-06-30 67,642.21 -5,677.57 4,835.96
2013-03-31 71,624.45 -8,851.69 5,079.15
2012-12-31 72,075.66 -9,559.14 5,079.02

*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.
  • COSCO SHIPPING Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • COSCO SHIPPING Holdings used its assets less efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • COSCO SHIPPING Holdings has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess COSCO SHIPPING Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Shipping 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.
COSCO SHIPPING Holdings has a total score of 4/6, 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 COSCO SHIPPING Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up COSCO SHIPPING Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • COSCO SHIPPING Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • COSCO SHIPPING Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of COSCO SHIPPING Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x 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 COSCO SHIPPING Holdings Company Filings, last reported 3 months ago.

DB:C6G Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 62,807.70 115,531.28 35,845.86
2019-03-31 62,111.05 112,677.87 44,886.84
2018-12-31 56,352.89 137,549.86 36,591.03
2018-09-30 54,985.93 135,451.91 37,838.84
2018-06-30 44,217.34 75,642.25 29,907.06
2018-03-31 43,356.07 61,391.61 21,247.76
2017-12-31 43,710.58 63,460.70 26,139.75
2017-09-30 42,980.73 63,414.50 31,981.61
2017-06-30 41,601.37 57,393.53 25,124.14
2017-03-31 38,530.71 58,982.27 31,551.53
2016-12-31 37,548.87 57,441.18 32,512.22
2016-09-30 37,377.16 60,472.55 34,442.99
2016-06-30 39,212.98 58,234.03 35,063.29
2016-03-31 41,469.95 54,725.10 34,797.85
2015-12-31 53,171.07 87,165.98 34,497.18
2015-09-30 43,995.31 89,459.77 39,997.92
2015-06-30 45,364.12 90,036.82 45,519.85
2015-03-31 42,149.86 85,237.29 38,460.29
2014-12-31 42,957.96 87,316.48 41,072.44
2014-09-30 42,266.19 73,431.68 43,065.36
2014-06-30 40,533.36 88,069.62 38,664.07
2014-03-31 40,826.99 68,602.05 48,994.50
2013-12-31 42,113.81 97,368.57 53,063.32
2013-09-30 39,641.61 75,234.82 48,603.64
2013-06-30 41,258.00 102,538.08 55,569.44
2013-03-31 39,914.80 92,644.11 50,100.63
2012-12-31 41,700.20 93,128.61 46,914.57
  • COSCO SHIPPING Holdings's level of debt (183.9%) 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 (216.7% vs 183.9% today).
  • Debt is not well covered by operating cash flow (14.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess COSCO SHIPPING Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. COSCO SHIPPING Holdings has a total score of 1/6, 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 COSCO SHIPPING Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from COSCO SHIPPING Holdings dividends. Estimated to be 0% next year.
If you bought €2,000 of COSCO SHIPPING Holdings shares you are expected to receive €0 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?
  • Unable to evaluate COSCO SHIPPING Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate COSCO SHIPPING Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:C6G 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 7 Analyst Estimates (S&P Global) See Below
Europe Shipping Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 2.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
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:C6G Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 1.00
2020-12-31 0.00 3.00
2019-12-31 0.00 3.00
2019-10-13
DB:C6G Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2012-10-31 0.000 0.000
2012-10-30 0.000 0.000
2012-08-29 0.000 0.000
2012-04-26 0.000 0.000
2012-03-29 0.000 0.000
2011-03-29 0.090 2.331
2010-10-29 0.000 0.000
2010-10-28 0.000 0.000
2010-08-26 0.000 0.000
2010-04-29 0.000 0.000
2010-04-23 0.000 0.000
2010-01-15 0.000 0.000
2009-06-09 0.290 3.277

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

  • Unable to perform a dividend volatility check as COSCO SHIPPING Holdings has not reported any payouts.
  • Unable to verify if COSCO SHIPPING Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of COSCO SHIPPING Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as COSCO SHIPPING Holdings has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of COSCO SHIPPING Holdings's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess COSCO SHIPPING Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 COSCO SHIPPING Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. COSCO SHIPPING Holdings has a total score of 0/6, 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 COSCO SHIPPING Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Zhijian Yang
AGE 55
TENURE AS CEO 0.2 years
CEO Bio

Mr. Zhijian Yang has been Executive Director of COSCO SHIPPING Holdings Co., Ltd. since October 9, 2019. Mr. Yang serves as Executive Director of Orient Overseas (International) Limited from September 18, 2019. He has been General Manager of COSCO SHIPPING Holdings Co. Ltd. since August 30, 2019. Mr. Yang is currently the employee representative director of China COSCO, Shipping Corporation Limited, the general manager and deputy party secretary of the Company, the chairman of the board, general manager and deputy party secretary of COSCO SHIPPING, Lines Co. Ltd., a wholly-owned subsidiary of the Company. He previously held various positions, including the head of Ocean Transportation Division of Shanghai Ocean Shipping Co. Ltd. the, head of Corporate Planning Division and deputy general manager of marketing department of COSCO Container Lines Co., Ltd. (currently known as COSCO SHIPPING Lines Co. Ltd.),the deputy general manager of Hong Kong Ming Wah Shipping Co., Ltd. the general manager, of the Trade Service Division and the general manager of the Asia-Pacific Trade Division of, COSCO Container Lines Co. Ltd. (currently known as COSCO SHIPPING Lines Co. Ltd.), general manager and deputy party secretary of Shanghai PANASIA Shipping Company Limited, an assistant to the general manager and deputy general manager of COSCO Logistics Co., Ltd.,(currently known as COSCO SHIPPING Logistics Co., Ltd.), the deputy general manager, general, manager and deputy party secretary of COSCO SHIPPING Bulk Co., Ltd. Mr. Yang has experience in the maritime industry and has extensive experience in container, shipping, logistics and bulk shipping. Mr. Yang graduated from Shanghai Maritime, University majoring in EMBA. Mr. Yang is an economist.

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

Average tenure and age of the COSCO SHIPPING Holdings management team in years:

2.4
Average Tenure
53
Average Age
  • The tenure for the COSCO SHIPPING Holdings management team is about average.
Management Team

Haimin Wang

TITLE
Vice Chairman
COMPENSATION
CN¥3M
AGE
46

Lirong Xu

TITLE
Chairman of Board
AGE
62

Zhijian Yang

TITLE
GM & Executive Director
AGE
55
TENURE
0.2 yrs

Mingwen Zhang

TITLE
Chief Financial Officer
AGE
41
TENURE
1.3 yrs

Hongwei Xu

TITLE
Head of the Accounting Department

Boming Feng

TITLE
Executive Director
AGE
50

Wei Zhang

TITLE
AGE
53
TENURE
3.5 yrs

Huawei Guo

TITLE
Company Secretary
COMPENSATION
CN¥1M
AGE
53
TENURE
7.8 yrs

Jianhua Ma

TITLE
Deputy General Manager and Non-Executive Director
AGE
56
Board of Directors Tenure

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

2.4
Average Tenure
59
Average Age
  • The average tenure for the COSCO SHIPPING Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Haimin Wang

TITLE
Vice Chairman
COMPENSATION
CN¥3M
AGE
46
TENURE
0.2 yrs

Lirong Xu

TITLE
Chairman of Board
AGE
62
TENURE
1.2 yrs

Zhijian Yang

TITLE
GM & Executive Director
AGE
55

Boming Feng

TITLE
Executive Director
AGE
50

Wei Zhang

TITLE
AGE
53
TENURE
2.8 yrs

Jianhua Ma

TITLE
Deputy General Manager and Non-Executive Director
AGE
56

Siong Seng Teo

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥453K
AGE
64
TENURE
2.4 yrs

Philip Yang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥460K
AGE
71
TENURE
5.4 yrs

Dawei Wu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥156K
AGE
65
TENURE
2.4 yrs

Zhonghui Zhou

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥160K
AGE
72
TENURE
2.4 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 (€)
03. Jul 19 Buy BlackRock, Inc. Company 28. Jun 19 28. Jun 19 813,068 €0.34 €278,555
31. May 19 Buy BlackRock, Inc. Company 28. May 19 28. May 19 1,703,000 €0.34 €585,307
02. Feb 19 Buy BlackRock, Inc. Company 30. Jan 19 30. Jan 19 1,017,500 €0.35 €354,689
X
Management checks
We assess COSCO SHIPPING Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. COSCO SHIPPING Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Company Info

Description

COSCO SHIPPING Holdings Co., Ltd., an investment holding company, engages in the container shipping, container terminals, and other businesses worldwide. The company operates Container Shipping and Related Business, Container Terminal and Related Business, and Corporate and Other Operations segments. It offers container transportation, container stack, cargo storage, shipping agency, freight forwarding and transportation, logistics, vessel chartering, marine, document, vessel management and manning, liner agency, vessel owning, and other international sea transportation services. The company also provides technology services and solutions, as well as management and finance services; and designs and manufactures computer software. As of December 31, 2018, it operated a fleet of 477 container vessels with a total shipping capacity of 2,758,813 TEU. The company was formerly known as China COSCO Holdings Company Limited and changed its name to COSCO SHIPPING Holdings Co., Ltd. in November 2016. COSCO SHIPPING Holdings Co., Ltd. was founded in 2005 and is based in Shanghai, the People’s Republic of China.

Details
Name: COSCO SHIPPING Holdings Co., Ltd.
C6G
Exchange: DB
Founded: 2005
HK$7,363,263,071
12,259,529,227
Website: http://hold.coscoshipping.com
Address: COSCO SHIPPING Holdings Co., Ltd.
No. 658 Dong Da Ming Road,
8th Floor,
Shanghai,
200080,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1919 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 30. Jun 2005
OTCPK CICO.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 30. Jun 2005
DB C6G Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 30. Jun 2005
SHSC 1919 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 30. Jun 2005
SZSC 1919 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 30. Jun 2005
OTCPK CICO.Y ADR Pink Sheets LLC US USD 14. Oct 2008
SHSE 601919 Domestic Shares Shanghai Stock Exchange CN CNY 26. Jun 2007
XSSC 601919 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 26. Jun 2007
Number of employees
Current staff
Staff numbers
26,852
COSCO SHIPPING Holdings employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 21:28
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/08
Last earnings filing: 2019/08/30
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.