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Power Assets Holdings

DB:HEH
Snowflake Description

Flawless balance sheet 6 star dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HEH
DB
HK$108B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

Power Assets Holdings Limited, an investment holding company, generates, transmits, and distributes electricity in Hong Kong, the United Kingdom, Australia, Mainland China, and internationally. The last earnings update was 5 days ago. More info.


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HEH Share Price and Events
7 Day Returns
9.9%
DB:HEH
0.7%
Europe Electric Utilities
2.1%
DE Market
1 Year Returns
-5.6%
DB:HEH
-0.5%
Europe Electric Utilities
-16.6%
DE Market
HEH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Power Assets Holdings (HEH) 9.9% -6.4% -10.4% -5.6% -28.4% -39.9%
Europe Electric Utilities 0.7% -17.1% -11.1% -0.5% 22.1% -2%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • HEH underperformed the Electric Utilities industry which returned -0.5% over the past year.
  • HEH outperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
HEH
Industry
5yr Volatility vs Market

HEH Value

 Is Power Assets 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 Power Assets 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 Power Assets Holdings.

DB:HEH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in HKD HK$ 2.8110196
Payout Ratio Company Filings (2019-12-31) 7998.4%
Discount Rate (Cost of Equity) See below 4.5%
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:HEH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.272 (1 + (1- 25%) (3.09%))
0.516
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.8 * 6.07%)
4.47%

Discounted Cash Flow Calculation for DB:HEH using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Power Assets Holdings is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

DB:HEH Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= HK$2.81 / (4.47% - -0.39%)
HK$0.78
DB:HEH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:HEH represents 0.11607x of SEHK:6
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11607x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 57.89 x 0.11607
€6.72
Value per share (EUR) From above. €6.72
Current discount Discount to share price of €5.85
= -1 x (€5.85 - €6.72) / €6.72
12.9%

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

Current Discount
Amount off the current price Power Assets Holdings is available for.
Intrinsic value
13%
Share price is €5.85 vs Future cash flow value of €6.72
Current Discount Checks
For Power Assets Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Power Assets Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Power Assets Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Power Assets Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Power Assets Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HEH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in HKD HK$3.34
SEHK:6 Share Price ** SEHK (2020-04-07) in HKD HK$50.4
Europe Electric Utilities Industry PE Ratio Median Figure of 74 Publicly-Listed Electric Utilities Companies 10.45x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

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

** Primary Listing of Power Assets Holdings.

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

= SEHK:6 Share Price ÷ EPS (both in HKD)

= 50.4 ÷ 3.34

15.08x

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

  • Power Assets Holdings is overvalued based on earnings compared to the Europe Electric Utilities industry average.
  • Power Assets Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Power Assets Holdings's expected growth come at a high price?
Raw Data
DB:HEH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
1.4%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 35 Publicly-Listed Electric Utilities Companies 1.6x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.08x ÷ 1.4%

10.66x

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

  • Power Assets Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Power Assets Holdings's assets?
Raw Data
DB:HEH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in HKD HK$40.06
SEHK:6 Share Price * SEHK (2020-04-07) in HKD HK$50.4
Europe Electric Utilities Industry PB Ratio Median Figure of 87 Publicly-Listed Electric Utilities Companies 0.78x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:HEH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:6 Share Price ÷ Book Value per Share (both in HKD)

= 50.4 ÷ 40.06

1.26x

* Primary Listing of Power Assets Holdings.

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

  • Power Assets Holdings is overvalued based on assets compared to the Europe Electric Utilities industry average.
X
Value checks
We assess Power Assets 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 Electric Utilities 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 Electric Utilities industry average (and greater than 0)? (1 check)
  5. Power Assets Holdings has a total score of 1/6, 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.

HEH Future Performance

 How is Power Assets Holdings expected to perform in the next 1 to 3 years based on estimates from 10 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
1.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Power Assets Holdings expected to grow at an attractive rate?
  • Power Assets Holdings's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Power Assets Holdings's earnings growth is positive but not above the Germany market average.
  • Power Assets Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:HEH Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HEH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 1.4%
DB:HEH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 1.1%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:HEH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HEH Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,344 1,524 7,464 4
2021-12-31 1,435 1,494 7,244 10
2020-12-31 1,391 1,360 6,997 9
2020-04-07
DB:HEH Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,348 1,849 7,131
2019-09-30 1,400 2,165 7,219
2019-06-30 1,451 2,481 7,307
2019-03-31 1,503 2,518 7,472
2018-12-31 1,555 2,555 7,636
2018-09-30 1,557 1,900 8,026
2018-06-30 1,558 1,245 8,415
2018-03-31 1,489 1,179 8,367
2017-12-31 1,420 1,113 8,319
2017-09-30 1,355 895 7,642
2017-06-30 1,290 676 6,965
2017-03-31 1,289 701 6,691

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Power Assets Holdings's earnings are expected to grow by 1.4% yearly, however this is not considered high growth (20% yearly).
  • Power Assets Holdings's revenue is expected to grow by 1.1% 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:HEH 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 10 Analyst Estimates (S&P Global) See Below

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

DB:HEH Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 3.42 3.73 3.15 5.00
2021-12-31 3.36 3.80 3.07 11.00
2020-12-31 3.27 3.44 3.17 10.00
2020-04-07
DB:HEH Past Financials Data
Date (Data in HKD Millions) EPS *
2019-12-31 3.34
2019-09-30 3.38
2019-06-30 3.42
2019-03-31 3.50
2018-12-31 3.58
2018-09-30 3.76
2018-06-30 3.94
2018-03-31 3.92
2017-12-31 3.90
2017-09-30 3.58
2017-06-30 3.26
2017-03-31 3.14

*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.
  • Power Assets Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Power Assets 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.
Power Assets Holdings has a total score of 1/6, 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.

HEH Past Performance

  How has Power Assets 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 Power Assets Holdings's growth in the last year to its industry (Electric Utilities).
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.
  • Power Assets Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Power Assets Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Power Assets Holdings's 1-year earnings growth is negative, it can't be compared to the Europe Electric Utilities industry average.
Earnings and Revenue History
Power Assets 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 Power Assets Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HEH Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,348.00 7,131.00 168.00
2019-09-30 1,399.50 7,219.00 239.00
2019-06-30 1,451.00 7,307.00 310.00
2019-03-31 1,503.00 7,471.50 310.00
2018-12-31 1,555.00 7,636.00 310.00
2018-09-30 1,556.50 8,025.50 416.50
2018-06-30 1,558.00 8,415.00 523.00
2018-03-31 1,489.00 8,367.00 523.00
2017-12-31 1,420.00 8,319.00 523.00
2017-09-30 1,355.00 7,642.00 262.50
2017-06-30 1,290.00 6,965.00 2.00
2017-03-31 1,289.00 6,691.00 2.00
2016-12-31 1,288.00 6,417.00 2.00
2016-09-30 1,299.50 7,194.00 1.00
2016-06-30 1,311.00 7,971.00
2016-03-31 1,309.50 7,851.50
2015-12-31 1,308.00 7,732.00
2015-09-30 1,316.50 7,715.00
2015-06-30 1,325.00 7,698.00
2015-03-31 1,728.00 34,351.50
2014-12-31 2,131.00 61,005.00
2014-09-30 4,826.50 61,971.00
2014-06-30 7,522.00 62,937.00
2014-03-31 9,550.00 37,051.00
2013-12-31 11,578.00 11,165.00
2013-09-30 11,289.00 10,666.50
2013-06-30 11,000.00 10,168.00

*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.
  • Power Assets Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Power Assets Holdings used its assets more efficiently than the Europe Electric Utilities industry average last year based on Return on Assets.
  • Power Assets Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Power Assets 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 Electric Utilities 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.
Power Assets Holdings has a total score of 2/6, 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.

HEH Health

 How is Power Assets 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 Power Assets Holdings's finances.

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

DB:HEH Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 85,492.00 3,319.00 4,878.00
2019-09-30 85,492.00 3,319.00 4,878.00
2019-06-30 82,679.00 3,667.00 3,881.00
2019-03-31 82,679.00 3,667.00 3,881.00
2018-12-31 83,557.00 3,517.00 5,316.00
2018-09-30 83,557.00 3,517.00 5,316.00
2018-06-30 83,405.00 3,572.00 6,988.00
2018-03-31 83,405.00 3,572.00 6,988.00
2017-12-31 95,580.00 7,223.00 25,408.00
2017-09-30 95,580.00 7,223.00 25,408.00
2017-06-30 108,283.00 8,859.00 41,924.00
2017-03-31 108,283.00 8,859.00 41,924.00
2016-12-31 118,411.00 8,555.00 61,712.00
2016-09-30 118,411.00 8,555.00 61,712.00
2016-06-30 120,099.00 9,064.00 65,959.00
2016-03-31 120,099.00 9,064.00 65,959.00
2015-12-31 123,597.00 9,405.00 68,157.00
2015-09-30 123,597.00 9,405.00 68,157.00
2015-06-30 121,472.00 9,978.00 67,799.00
2015-03-31 121,472.00 9,978.00 67,799.00
2014-12-31 123,088.00 10,204.00 61,293.00
2014-09-30 123,088.00 10,204.00 61,293.00
2014-06-30 122,752.00 11,468.00 64,240.00
2014-03-31 122,752.00 11,468.00 64,240.00
2013-12-31 69,438.00 22,491.00 7,982.00
2013-09-30 69,438.00 22,491.00 7,982.00
2013-06-30 62,726.00 25,783.00 8,737.00
  • Power Assets Holdings's level of debt (3.9%) 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 (8.3% vs 3.9% today).
  • Debt is well covered by operating cash flow (55.7%, greater than 20% of total debt).
  • Power Assets Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Power Assets 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. Power Assets Holdings has a total score of 6/6, 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.

HEH Dividends

 What is Power Assets 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
5.56%
Current annual income from Power Assets Holdings dividends. Estimated to be 5.58% next year.
If you bought €2,000 of Power Assets Holdings shares you are expected to receive €111 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?
  • Power Assets Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Power Assets Holdings's dividend is above the markets top 25% of dividend payers in Germany (4.71%).
Upcoming dividend payment

Purchase Power Assets Holdings 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:HEH 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 10 Analyst Estimates (S&P Global) See Below
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 51 Stocks 4.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

DB:HEH Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 2.82 4.00
2021-12-31 2.82 11.00
2020-12-31 2.80 10.00
2020-04-07
DB:HEH Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2020-03-18 2.800 6.055
2019-07-31 2.800 5.083
2019-05-15 2.800 4.979
2018-04-04 2.800 5.095
2018-03-16 2.800 4.087
2017-03-30 2.720 3.962
2017-03-21 2.720 4.048
2016-05-12 2.700 3.701
2015-03-31 2.680 3.659
2015-02-24 2.680 3.502
2014-05-15 2.550 3.538
2013-04-03 2.450 3.679
2013-03-07 2.450 3.400
2012-07-19 2.320 3.551
2012-03-07 2.320 4.050
2011-07-27 2.110 3.608
2011-03-02 2.110 3.869
2010-07-28 2.110 4.304
2010-03-04 2.110 4.570
2009-08-05 2.110 4.953
2009-04-09 2.110 4.898

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Power Assets Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Power Assets Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Power Assets Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Power Assets Holdings has a total score of 6/6, see the detailed checks below.


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

HEH Management

 What is the CEO of Power Assets 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
Charles Tsai
COMPENSATION HK$4,910,000
AGE 62
TENURE AS CEO 6.3 years
CEO Bio

Mr. Tsai Chao Chung, also known as Charles, BAppSc (Mech Eng), BSME, CPEng, has been the Chief Executive Officer and Executive Director of Power Assets Holdings Limited since January 29, 2014. Mr. Tsai serves as the General Manager of Power Assets Investments Limited. He serves as a Director of Iberwind - Desenvolvimento de Projectos S.A. He has been responsible Power Assets Investments outside Hong Kong since 1997. He served as a General Manager of Hongkong Electric International Limited at Power Assets Holdings Limited since June 1987. He has been with Power Assets Holdings Limited since June 1987. He has over 10 years of experience in the power investment sector. He has been Director of Wales & West Gas Networks (Holdings) Limited since February 28, 2014 and also served as Director at Australian Gas Networks Limited since September 1, 2014 till September 07, 2017. He is a Director at Wales & West Utilities Finance plc. He serves as Director of London Power Networks plc and Eastern Power Networks plc and UK Power Networks Services Holdings Limited. He has been Director of South Eastern Power Networks Plc since February 28, 2014; Australia Gas Networks (Vic 3) Pty Ltd., since September 2014; Electricity First Ltd. since June 2010; Northern Gas Networks Limited since February 2014; and Northern Gas Networks Holdings Ltd since February 2014. He serves as a Director at Power Assets Investments Limited. He serves as a Director of Beta Central Profits Limited. He served as a Director of Hongkong Electric International Limited at Power Assets Holdings Limited since June 1987. He is a Registered Professional Engineer and a Member of the Hong Kong Institution of Engineers as well as a Chartered Engineer and a Member of the Institute of Mechanical Engineers in the United Kingdom. He holds a Bachelor of Applied Science Degree in Mechanical Engineering.

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

Canning Fok

TITLE
Chairman of the Board
COMPENSATION
HK$120K
AGE
68

Charles Tsai

TITLE
CEO & Executive Director
COMPENSATION
HK$5M
AGE
62
TENURE
6.3 yrs

Andrew John Hunter

TITLE
Executive Director
COMPENSATION
HK$150K
AGE
61

Chi Tin Wan

TITLE
Executive Director
COMPENSATION
HK$70K
AGE
69

Neil McGee

TITLE
Executive Director
COMPENSATION
HK$70K
AGE
68

Dominic Chan

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
56

Ivan Chan

TITLE
Chief Financial Officer
AGE
56
TENURE
7.9 yrs

Alex Ng

TITLE
Group Legal Counsel & Company Secretary
AGE
50
Board of Directors Tenure

Average tenure and age of the Power Assets Holdings board of directors in years:

14.3
Average Tenure
66
Average Age
  • The average tenure for the Power Assets Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Canning Fok

TITLE
Chairman of the Board
COMPENSATION
HK$120K
AGE
68
TENURE
14.4 yrs

Charles Tsai

TITLE
CEO & Executive Director
COMPENSATION
HK$5M
AGE
62
TENURE
6.3 yrs

Andrew John Hunter

TITLE
Executive Director
COMPENSATION
HK$150K
AGE
61
TENURE
21.3 yrs

Chi Tin Wan

TITLE
Executive Director
COMPENSATION
HK$70K
AGE
69
TENURE
14.3 yrs

Neil McGee

TITLE
Executive Director
COMPENSATION
HK$70K
AGE
68
TENURE
14.3 yrs

Dominic Chan

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
56
TENURE
7.8 yrs

Ralph Raymond Shea

TITLE
Independent Non-Executive Director
COMPENSATION
HK$160K
AGE
85
TENURE
34.9 yrs

Albert Ip

TITLE
Independent Non-Executive Director
COMPENSATION
HK$140K
AGE
67
TENURE
6.3 yrs

Victor Li

TITLE
Non-Executive Director
COMPENSATION
HK$70K
AGE
55
TENURE
25.9 yrs

Anthony Wu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$70K
AGE
65
TENURE
5.8 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 (€)
28. Nov 19 Buy BlackRock, Inc. Company 26. Nov 19 26. Nov 19 11,314,500 €6.39 €72,320,605
X
Management checks
We assess Power Assets 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. Power Assets 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.

HEH News

Simply Wall St News

HEH Company Info

Description

Power Assets Holdings Limited, an investment holding company, generates, transmits, and distributes electricity in Hong Kong, the United Kingdom, Australia, Mainland China, and internationally. The company generates energy from thermal, wind, and waste sources. It also distributes gas; transmits oil; holds property; and provides consulting, financing, trust administration, and management services. The company has a generation capacity of 1,731 MW renewable energy/energy from waste, 3,968 MW gas fired, and 4,607 MW coal/oil fired; and operates 112,300 km of gas/oil pipeline, as well as 399,100 km of power network serving 19,083,000 customers. Power Assets Holdings Limited was incorporated in 1976 and is based in Central, Hong Kong.

Details
Name: Power Assets Holdings Limited
HEH
Exchange: DB
Founded: 1976
HK$12,741,062,439
2,134,261,654
Website: http://www.powerassets.com
Address: Power Assets Holdings Limited
Cheung Kong Center,
Unit 2005,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 6 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 23. May 1983
OTCPK HGKG.F Ordinary Shares Pink Sheets LLC US USD 23. May 1983
DB HEH Ordinary Shares Deutsche Boerse AG DE EUR 23. May 1983
SHSC 6 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 23. May 1983
SZSC 6 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 23. May 1983
OTCPK HGKG.Y SPONSORED ADR Pink Sheets LLC US USD 27. Jul 1981
Number of employees
Current staff
Staff numbers
13
Power Assets Holdings employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 20:39
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/04/02
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.