Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

COSCO SHIPPING Ports

DB:CTH
Snowflake Description

Very undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CTH
DB
HK$11B
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

COSCO SHIPPING Ports Limited, an investment holding company, engages in managing and operating terminals and related other businesses in Mainland China, Southeast Asia, the Middle East, Europe, and the Mediterranean. The last earnings update was 4 days ago. More info.


Add to Portfolio Compare Print
  • COSCO SHIPPING Ports has significant price volatility in the past 3 months.
CTH Share Price and Events
7 Day Returns
2%
DB:CTH
6.6%
DE Infrastructure
7.3%
DE Market
1 Year Returns
-58.2%
DB:CTH
-42.7%
DE Infrastructure
-17.7%
DE Market
CTH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
COSCO SHIPPING Ports (CTH) 2% -27.9% -44.3% -58.2% -60.5% -67.9%
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
  • CTH underperformed the Infrastructure industry which returned -42.7% over the past year.
  • CTH underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
CTH
Industry
5yr Volatility vs Market

CTH Value

 Is COSCO SHIPPING Ports 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 Ports 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 Ports.

DB:CTH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
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:CTH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
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%) (265.37%))
1.79
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.79
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.79 * 6.07%)
10.47%

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

The calculations below outline how an intrinsic value for COSCO SHIPPING Ports 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:CTH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.47%)
2020 36.00 Analyst x2 32.59
2021 129.67 Analyst x3 106.25
2022 215.00 Analyst x1 159.47
2023 283.35 Est @ 31.79% 190.24
2024 346.07 Est @ 22.14% 210.33
2025 399.29 Est @ 15.38% 219.67
2026 441.81 Est @ 10.65% 220.02
2027 474.22 Est @ 7.34% 213.77
2028 498.02 Est @ 5.02% 203.22
2029 514.94 Est @ 3.4% 190.20
Present value of next 10 years cash flows $1,745.00
DB:CTH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $514.94 × (1 + -0.39%) ÷ (10.47% – -0.39%)
$4,722.05
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,722.05 ÷ (1 + 10.47%)10
$1,744.18
DB:CTH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,745.00 + $1,744.18
$3,489.18
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,489.18 / 3,161.96
$1.1
DB:CTH Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:1199)
7.754
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $1.1 x 7.754
HK$8.56
Non-primary Listing Adjustment Factor 1 share in DB:CTH represents 0.1138x of SEHK:1199
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.1138x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 8.56 x 0.1138
€0.97
Value per share (EUR) From above. €0.97
Current discount Discount to share price of €0.40
= -1 x (€0.40 - €0.97) / €0.97
58.5%

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

Current Discount
Amount off the current price COSCO SHIPPING Ports is available for.
Intrinsic value
>50%
Share price is €0.404 vs Future cash flow value of €0.97375
Current Discount Checks
For COSCO SHIPPING Ports to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • COSCO SHIPPING Ports's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • COSCO SHIPPING Ports'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 Ports's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are COSCO SHIPPING Ports's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CTH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.10
SEHK:1199 Share Price ** SEHK (2020-03-30) in HKD HK$3.55
SEHK:1199 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.129 $0.46
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 COSCO SHIPPING Ports.

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

= SEHK:1199 Share Price ÷ EPS (both in USD)

= 0.46 ÷ 0.10

4.66x

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

  • COSCO SHIPPING Ports is good value based on earnings compared to the Europe Infrastructure industry average.
  • COSCO SHIPPING Ports is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does COSCO SHIPPING Ports's expected growth come at a high price?
Raw Data
DB:CTH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
4.8%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:CTH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.66x ÷ 4.8%

0.96x

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

  • COSCO SHIPPING Ports is good value based on expected growth next year.
Price based on value of assets
What value do investors place on COSCO SHIPPING Ports's assets?
Raw Data
DB:CTH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $1.58
SEHK:1199 Share Price * SEHK (2020-03-30) in HKD HK$3.55
SEHK:1199 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.129 $0.46
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:CTH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1199 Share Price ÷ Book Value per Share (both in USD)

= 0.46 ÷ 1.58

0.29x

* Primary Listing of COSCO SHIPPING Ports.

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

  • COSCO SHIPPING Ports is good value based on assets compared to the DE Infrastructure industry average.
X
Value checks
We assess COSCO SHIPPING Ports'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. COSCO SHIPPING Ports 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.

CTH Future Performance

 How is COSCO SHIPPING Ports expected to perform in the next 1 to 3 years based on estimates from 9 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
4.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is COSCO SHIPPING Ports expected to grow at an attractive rate?
  • COSCO SHIPPING Ports's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • COSCO SHIPPING Ports's earnings growth is positive but not above the Germany market average.
  • COSCO SHIPPING Ports's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:CTH Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CTH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 4.8%
DB:CTH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 5.1%
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:CTH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CTH Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,156 514 345 4
2021-12-31 1,166 470 343 9
2020-12-31 1,030 485 305 8
2020-03-30
DB:CTH Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,028 308
2019-09-30 1,025 300
2019-06-30 1,023 286 303
2019-03-31 1,010 305
2018-12-31 1,000 266 325
2018-09-30 952 305
2018-06-30 854 268 297
2018-03-31 745 544
2017-12-31 635 253 512
2017-09-30 569 483
2017-06-30 557 203 460
2017-03-31 556 176

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • COSCO SHIPPING Ports's earnings are expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
  • COSCO SHIPPING Ports's revenue is expected to grow by 5.1% 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:CTH 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 9 Analyst Estimates (S&P Global) See Below

All data from COSCO SHIPPING Ports Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CTH Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.11 0.13 0.09 3.00
2021-12-31 0.11 0.13 0.09 7.00
2020-12-31 0.10 0.11 0.09 6.00
2020-03-30
DB:CTH Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.10
2019-09-30 0.10
2019-06-30 0.10
2019-03-31 0.10
2018-12-31 0.11
2018-09-30 0.10
2018-06-30 0.10
2018-03-31 0.18
2017-12-31 0.17
2017-09-30 0.16
2017-06-30 0.15
2017-03-31 0.06

*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 Ports 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 Ports'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 Ports 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.

CTH Past Performance

  How has COSCO SHIPPING Ports 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 Ports'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.
  • COSCO SHIPPING Ports's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • COSCO SHIPPING Ports's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • COSCO SHIPPING Ports's 1-year earnings growth is negative, it can't be compared to the Europe Infrastructure industry average.
Earnings and Revenue History
COSCO SHIPPING Ports'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 Ports Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CTH 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 1,027.66 308.02 124.00
2019-09-30 1,024.52 300.11 114.12
2019-06-30 1,022.81 303.39 107.56
2019-03-31 1,010.12 305.28 112.99
2018-12-31 1,000.35 324.58 110.87
2018-09-30 951.79 304.64 132.47
2018-06-30 854.39 296.73 133.82
2018-03-31 744.82 544.12 122.64
2017-12-31 634.71 512.45 111.70
2017-09-30 568.63 483.08 95.47
2017-06-30 557.17 459.80 81.86
2017-03-31 555.54 175.53 83.07
2016-12-31 556.38 180.48 84.87
2016-09-30 801.28 245.82 83.99
2016-06-30 548.66 234.22 73.86
2016-03-31 795.16 287.55 82.04
2015-12-31 550.22 265.29 66.22
2015-09-30 818.02 297.93 90.42
2015-06-30 706.47 282.44 83.67
2015-03-31 852.45 305.41 93.03
2014-12-31 870.09 292.76 93.20
2014-09-30 856.61 295.96 92.52
2014-06-30 843.59 289.17 92.44
2014-03-31 819.98 290.17 88.19
2013-12-31 798.63 286.21 90.06
2013-09-30 783.54 340.44 91.21
2013-06-30 763.34 274.95 91.14
2013-03-31 752.59 331.10 90.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • COSCO SHIPPING Ports has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • COSCO SHIPPING Ports used its assets less efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • COSCO SHIPPING Ports's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess COSCO SHIPPING Ports'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.
COSCO SHIPPING Ports has a total score of 1/6, 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.

CTH Health

 How is COSCO SHIPPING Ports'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 Ports's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • COSCO SHIPPING Ports is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • COSCO SHIPPING Ports's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of COSCO SHIPPING Ports'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 0.5x 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 COSCO SHIPPING Ports Company Filings, last reported 2 months ago.

DB:CTH Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 5,765.21 3,071.16 943.04
2019-09-30 5,615.64 2,941.57 1,081.53
2019-06-30 5,726.55 2,710.80 577.51
2019-03-31 5,864.99 2,538.90 562.86
2018-12-31 5,819.65 2,676.91 551.77
2018-09-30 5,725.69 2,433.83 671.92
2018-06-30 5,880.61 2,540.45 582.03
2018-03-31 6,100.86 2,428.97 552.98
2017-12-31 5,845.37 2,564.75 573.36
2017-09-30 5,568.35 1,959.69 800.80
2017-06-30 5,414.10 1,633.16 344.77
2017-03-31 4,918.37 1,432.02 717.14
2016-12-31 4,765.80 1,710.91 847.68
2016-09-30 4,819.33 1,665.44 837.69
2016-06-30 4,838.21 1,616.43 942.93
2016-03-31 4,940.55 1,501.87 1,135.83
2015-12-31 6,267.08 2,271.31 989.27
2015-09-30 5,047.08 1,787.57 975.61
2015-06-30 5,159.45 2,001.73 1,052.85
2015-03-31 5,107.85 1,887.07 1,014.63
2014-12-31 5,058.66 2,098.09 1,131.71
2014-09-30 4,986.69 2,077.64 1,141.06
2014-06-30 4,931.30 2,216.74 929.16
2014-03-31 4,894.95 2,104.18 940.02
2013-12-31 4,843.49 2,277.10 1,237.40
2013-09-30 4,602.76 2,590.98 1,805.96
2013-06-30 4,696.75 3,099.75 1,680.51
2013-03-31 4,297.58 3,068.90 1,102.45
  • COSCO SHIPPING Ports's level of debt (53.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (41.4% vs 53.3% today).
  • Debt is not well covered by operating cash flow (9.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess COSCO SHIPPING Ports'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 Ports 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.

CTH Dividends

 What is COSCO SHIPPING Ports'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
8.58%
Current annual income from COSCO SHIPPING Ports dividends. Estimated to be 8.86% next year.
If you bought €2,000 of COSCO SHIPPING Ports shares you are expected to receive €172 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?
  • COSCO SHIPPING Ports's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • COSCO SHIPPING Ports's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Upcoming dividend payment

Purchase COSCO SHIPPING Ports 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:CTH 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 9 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:CTH Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.04 4.00
2021-12-31 0.04 9.00
2020-12-31 0.04 8.00
2020-03-30
DB:CTH Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-26 0.039 8.380
2019-03-28 0.042 5.144
2018-10-29 0.044 4.346
2018-08-27 0.044 4.296
2018-05-17 0.030 3.265
2018-04-13 0.030 3.491
2018-03-26 0.030 3.489
2017-04-12 0.033 3.060
2017-03-28 0.033 3.033
2016-04-14 0.052 4.985
2016-03-29 0.052 4.260
2015-03-24 0.040 3.198
2014-09-26 0.039 2.842
2014-04-08 0.043 3.100
2014-03-25 0.043 3.333
2013-04-16 0.050 3.606
2013-03-26 0.050 3.604
2012-09-14 0.026 1.782
2012-04-16 0.057 4.382
2012-03-27 0.057 3.923
2011-10-26 0.070 5.261
2011-09-14 0.070 5.962
2011-08-24 0.070 5.467
2011-04-08 0.042 2.458
2011-03-23 0.042 2.240
2010-09-13 0.030 1.735
2010-03-30 0.031 2.345
2009-04-09 0.049 3.584

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of COSCO SHIPPING Ports's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess COSCO SHIPPING Ports'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 COSCO SHIPPING Ports afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. COSCO SHIPPING Ports has a total score of 4/6, see the detailed checks below.


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

CTH Management

 What is the CEO of COSCO SHIPPING Ports'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
Dayu Zhang
AGE 46
TENURE AS CEO 0.5 years
CEO Bio

Mr. Dayu Zhang serves as Executive Director and Managing Director of COSCO SHIPPING Ports Limited since September 13, 2019. Mr. Zhang was the Deputy Managing Director of COSCO SHIPPING Ports Limited from April 2016 until September 2019. Mr. Zhang serves as a Deputy General Manager of China Shipping Ports Development Co., Ltd. He was the Managing Director of China Shipping Malta Agency Co., Ltd. and the Managing Director of China Shipping Egypt Co., Ltd., the Deputy General Manager of Container Control Division of China Shipping Container Lines Company Limited and General Manager of Overseas Business Department and Assistant General Manager of China Shipping Ports Development Co., Ltd. Mr. Zhang graduated from Shanghai Maritime University with Marine Navigation major.

CEO Compensation
  • Insufficient data for Dayu to compare compensation growth.
  • Insufficient data for Dayu 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 Ports management team in years:

4.4
Average Tenure
55
Average Age
  • The tenure for the COSCO SHIPPING Ports management team is about average.
Management Team

Boming Feng

TITLE
Chairman of the Board
AGE
50
TENURE
0.5 yrs

Kelvin Wong

TITLE
Deputy MD & Executive Director
COMPENSATION
$487K
AGE
59
TENURE
23.7 yrs

Huangjun Deng

TITLE
Deputy MD & Executive Director
COMPENSATION
$377K
AGE
55
TENURE
4.4 yrs

Dayu Zhang

TITLE
MD & Executive Director
AGE
46
TENURE
0.5 yrs

Michelle Hung

TITLE
General Counsel & Company Secretary
AGE
49
TENURE
23.3 yrs

Fusheng Zhang

TITLE
EVP - China Ocean Shipping (Group) Company and Director of COSCO Container Lines Company Ltd
COMPENSATION
$8K
AGE
68

Futian Wang

TITLE
President of COSCO Hong Kong
COMPENSATION
$8K
AGE
68
Board of Directors Tenure

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

4.4
Average Tenure
56.5
Average Age
  • The tenure for the COSCO SHIPPING Ports board of directors is about average.
Board of Directors

Boming Feng

TITLE
Chairman of the Board
AGE
50
TENURE
0.5 yrs

Kelvin Wong

TITLE
Deputy MD & Executive Director
COMPENSATION
$487K
AGE
59
TENURE
23.7 yrs

Huangjun Deng

TITLE
Deputy MD & Executive Director
COMPENSATION
$377K
AGE
55
TENURE
4.4 yrs

Dayu Zhang

TITLE
MD & Executive Director
AGE
46
TENURE
0.5 yrs

Fusheng Zhang

TITLE
EVP - China Ocean Shipping (Group) Company and Director of COSCO Container Lines Company Ltd
COMPENSATION
$8K
AGE
68

Rita Fan

TITLE
Independent Non Executive Director
COMPENSATION
$50K
AGE
73
TENURE
11.2 yrs

Adrian David Li

TITLE
Independent Non-Executive Director
COMPENSATION
$56K
AGE
45
TENURE
7.8 yrs

Yiu Kin Lam

TITLE
Independent Non-Executive Director
COMPENSATION
$40K
AGE
64
TENURE
4.6 yrs

Dong Chen

TITLE
Non-Executive Director
AGE
45
TENURE
3.4 yrs

Kalok Chan

TITLE
Independent Non-Executive Director
COMPENSATION
$37K
AGE
58
TENURE
3.4 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 (€)
30. Jan 20 Buy Silchester International Investors LLP Company 30. Jan 20 30. Jan 20 1,000,000 €0.67 €674,276
21. Oct 19 Buy Tin Yau Wong Individual 17. Oct 19 17. Oct 19 10,919 €0.74 €8,090
04. Oct 19 Buy Silchester International Investors LLP Company 04. Oct 19 04. Oct 19 860,000 €0.71 €610,176
08. Aug 19 Sell Hermes Investment Management Limited Company 07. Aug 19 07. Aug 19 -414,000 €0.77 €-318,620
17. Jul 19 Buy COSCO SHIPPING Holdings Co., Ltd. Company 15. Jul 19 15. Jul 19 322,000 €0.84 €270,032
10. Jul 19 Buy Wei Zhang Individual 09. Jul 19 09. Jul 19 6,505 €0.85 €5,539
10. Jul 19 Buy Huangjun Deng Individual 05. Jul 19 05. Jul 19 1,059 €0.85 €903
10. Jul 19 Buy Tin Yau Wong Individual 08. Jul 19 08. Jul 19 9,902 €0.85 €8,438
X
Management checks
We assess COSCO SHIPPING Ports'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 Ports 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.

CTH News

Simply Wall St News

CTH Company Info

Description

COSCO SHIPPING Ports Limited, an investment holding company, engages in managing and operating terminals and related other businesses in Mainland China, Southeast Asia, the Middle East, Europe, and the Mediterranean. The company offers container handling, transportation, and storage and stevedoring services; depot handling, storage, and container repairing servicing; and financing, treasury, management, and consultancy services. It also operates container freight stations, terminals, container terminals, and rail terminals. As of December 31, 2018, the company operated and managed 283 berths at 36 ports with a combined annual handling capacity of approximately 106 million TEU. The company was formerly known as COSCO Pacific Limited and changed its name to COSCO SHIPPING Ports Limited in July 2016. COSCO SHIPPING Ports Limited was incorporated in 1994 and is headquartered in Central, Hong Kong.

Details
Name: COSCO SHIPPING Ports Limited
CTH
Exchange: DB
Founded: 1994
HK$1,312,128,667
3,161,958,830
Website: http://ports.coscoshipping.com
Address: COSCO SHIPPING Ports Limited
COSCO Tower,
49th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1199 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 30. Dec 1994
OTCPK CSPK.F Ordinary Shares Pink Sheets LLC US USD 30. Dec 1994
DB CTH Ordinary Shares Deutsche Boerse AG DE EUR 30. Dec 1994
SHSC 1199 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 30. Dec 1994
SZSC 1199 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 30. Dec 1994
OTCPK CSPK.Y UNSPONSORD ADR Pink Sheets LLC US USD 22. Oct 2008
Number of employees
Current staff
Staff numbers
3,284
COSCO SHIPPING Ports employees.
Industry
Marine Ports and Services
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 21:26
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.