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eForce Holdings

SEHK:943
Snowflake Description

Mediocre balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
943
SEHK
HK$1B
Market Cap
  1. Home
  2. HK
  3. Household
Company description

eForce Holdings Limited, an investment holding company, manufactures, trades in, and sells healthcare and household products. The last earnings update was 13 days ago. More info.


Add to Portfolio Compare Print
  • eForce Holdings has significant price volatility in the past 3 months.
943 Share Price and Events
7 Day Returns
10.8%
SEHK:943
6%
HK Personal Products
0.2%
HK Market
1 Year Returns
-21.8%
SEHK:943
-17.6%
HK Personal Products
-22%
HK Market
943 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
eForce Holdings (943) 10.8% -16.9% -11.3% -21.8% 44.6% -86%
HK Personal Products 6% -5.1% -3.5% -17.6% -12.7% -46.6%
HK Market 0.2% -10.8% -16.5% -22% -13.4% -28.8%
1 Year Return vs Industry and Market
  • 943 underperformed the Personal Products industry which returned -17.6% over the past year.
  • 943 matched the Hong Kong Market (-22%) over the past year.
Price Volatility
943
Industry
5yr Volatility vs Market

943 Value

 Is eForce 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 eForce 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 eForce Holdings.

SEHK:943 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.4%
Perpetual Growth Rate 10-Year HK Government Bond Rate 1.6%

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 SEHK:943
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 1.6%
Equity Risk Premium S&P Global 6.1%
Personal Products Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.594 (1 + (1- 25%) (22.95%))
0.796
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)
= 1.55% + (0.8 * 6.07%)
6.41%

Discounted Cash Flow Calculation for SEHK:943 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for eForce 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.

SEHK:943 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 6.41%)
2020 19.11 Est @ 5.06% 17.96
2021 19.87 Est @ 4.01% 17.55
2022 20.52 Est @ 3.27% 17.04
2023 21.09 Est @ 2.75% 16.45
2024 21.59 Est @ 2.39% 15.83
2025 22.06 Est @ 2.14% 15.20
2026 22.49 Est @ 1.96% 14.56
2027 22.90 Est @ 1.84% 13.94
2028 23.30 Est @ 1.75% 13.33
2029 23.70 Est @ 1.69% 12.74
Present value of next 10 years cash flows HK$154.00
SEHK:943 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$23.70 × (1 + 1.55%) ÷ (6.41% – 1.55%)
HK$495.58
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$495.58 ÷ (1 + 6.41%)10
HK$266.35
SEHK:943 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$154.00 + HK$266.35
HK$420.35
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$420.35 / 10,721.67
HK$0.04
SEHK:943 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.04
Current discount Discount to share price of HK$0.13
= -1 x (HK$0.13 - HK$0.04) / HK$0.04
-239.2%

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

  • The current share price of eForce Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 eForce Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are eForce Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:943 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in HKD HK$-0.01
SEHK:943 Share Price ** SEHK (2020-04-03) in HKD HK$0.13
Hong Kong Personal Products Industry PE Ratio Median Figure of 10 Publicly-Listed Personal Products Companies 11x
Hong Kong Market PE Ratio Median Figure of 1,475 Publicly-Listed Companies 9.06x

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

** Primary Listing of eForce Holdings.

SEHK:943 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:943 Share Price ÷ EPS (both in HKD)

= 0.13 ÷ -0.01

-25.07x

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

  • eForce Holdings is loss making, we can't compare its value to the HK Personal Products industry average.
  • eForce Holdings is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does eForce Holdings's expected growth come at a high price?
Raw Data
SEHK:943 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -25.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Personal Products Industry PEG Ratio Median Figure of 43 Publicly-Listed Personal Products Companies 2.34x
Hong Kong Market PEG Ratio Median Figure of 487 Publicly-Listed Companies 0.64x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for eForce Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on eForce Holdings's assets?
Raw Data
SEHK:943 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in HKD HK$0.13
SEHK:943 Share Price * SEHK (2020-04-03) in HKD HK$0.13
Hong Kong Personal Products Industry PB Ratio Median Figure of 16 Publicly-Listed Personal Products Companies 1.11x
Hong Kong Market PB Ratio Median Figure of 2,250 Publicly-Listed Companies 0.71x
SEHK:943 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:943 Share Price ÷ Book Value per Share (both in HKD)

= 0.13 ÷ 0.13

1.03x

* Primary Listing of eForce Holdings.

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

  • eForce Holdings is good value based on assets compared to the HK Personal Products industry average.
X
Value checks
We assess eForce 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 Personal Products 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 Personal Products industry average (and greater than 0)? (1 check)
  5. eForce 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.

943 Future Performance

 How is eForce Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as eForce Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
12.2%
Expected Personal Products industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is eForce Holdings expected to grow at an attractive rate?
  • Unable to compare eForce Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare eForce Holdings's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare eForce Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:943 Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Personal Products Industry Earnings Growth Rate Market Cap Weighted Average 12.2%
Asia Personal Products Industry Revenue Growth Rate Market Cap Weighted Average 6.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 9.9%

*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
SEHK:943 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:943 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:943 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-12-31 199 -56
2019-09-30 249 -20
2019-06-30 281 27 17
2019-03-31 290 -5 36
2018-12-31 299 -36 55
2018-09-30 249 -38 58
2018-06-30 215 -40 58
2018-03-31 207 -21 7
2017-12-31 199 -3 -44
2017-09-30 223 -21 -34
2017-06-30 246 -39 -25
2017-03-31 256 -58 -32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if eForce Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if eForce Holdings is high growth as no revenue estimate data is available.
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
SEHK:943 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 0 Analyst Estimates (S&P Global) See Below

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

SEHK:943 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:943 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-12-31 -0.01
2019-09-30 0.00
2019-06-30 0.00
2019-03-31 0.00
2018-12-31 0.01
2018-09-30 0.01
2018-06-30 0.01
2018-03-31 0.00
2017-12-31 -0.03
2017-09-30 -0.02
2017-06-30 -0.02
2017-03-31 -0.02

*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.
  • Unable to establish if eForce Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of 943’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. eForce Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Household companies here
  3. eForce Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess eForce 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 Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia 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.
eForce Holdings has a total score of 0/6, 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.

943 Past Performance

  How has eForce 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 eForce Holdings's growth in the last year to its industry (Personal Products).
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.
  • eForce Holdings does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare eForce Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare eForce Holdings's 1-year growth to the HK Personal Products industry average as it is not currently profitable.
Earnings and Revenue History
eForce 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 eForce Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:943 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 198.78 -56.33 79.39
2019-09-30 248.61 -20.49 106.48
2019-06-30 281.43 17.17 118.45
2019-03-31 290.27 36.28 119.96
2018-12-31 299.12 55.39 121.47
2018-09-30 248.77 57.71 97.57
2018-06-30 215.45 58.22 88.80
2018-03-31 207.33 7.28 92.99
2017-12-31 199.22 -43.66 97.17
2017-09-30 222.67 -34.23 102.11
2017-06-30 246.13 -24.80 107.06
2017-03-31 255.57 -32.02 106.41
2016-12-31 265.02 -39.24 105.76
2016-09-30 243.18 -48.32 97.78
2016-06-30 221.33 -57.40 89.81
2016-03-31 200.39 -53.24 82.48
2015-12-31 179.46 -49.09 75.15
2015-09-30 180.71 -58.04 72.76
2015-06-30 181.96 -66.99 70.37
2015-03-31 183.36 -43.43 68.72
2014-12-31 184.75 -19.88 67.06
2014-09-30 179.02 -27.99 68.27
2014-06-30 173.30 -36.10 69.49
2014-03-31 169.65 -72.12 69.99
2013-12-31 166.01 -108.15 70.49
2013-09-30 159.61 -160.13 68.94
2013-06-30 153.21 -212.10 67.38

*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.
  • It is difficult to establish if eForce Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if eForce Holdings has efficiently used its assets last year compared to the HK Personal Products industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if eForce Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess eForce 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 Personal Products 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.
eForce Holdings has a total score of 0/6, 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.

943 Health

 How is eForce 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 eForce Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • eForce Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • eForce Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of eForce 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 1.4x 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 eForce Holdings Company Filings, last reported 3 months ago.

SEHK:943 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,388.18 320.32 167.72
2019-09-30 1,388.18 320.32 167.72
2019-06-30 1,517.33 279.15 25.77
2019-03-31 1,517.33 279.15 25.77
2018-12-31 1,217.55 16.67 19.19
2018-09-30 1,217.55 16.67 19.19
2018-06-30 1,290.98 21.00 6.23
2018-03-31 1,290.98 21.00 6.23
2017-12-31 873.09 20.66 307.08
2017-09-30 873.09 20.66 307.08
2017-06-30 579.55 40.26 4.61
2017-03-31 579.55 40.26 4.61
2016-12-31 584.77 31.71 19.98
2016-09-30 584.77 31.71 19.98
2016-06-30 591.11 15.95 12.01
2016-03-31 591.11 15.95 12.01
2015-12-31 292.19 262.37 311.31
2015-09-30 292.19 262.37 311.31
2015-06-30 331.26 0.38 80.49
2015-03-31 331.26 0.38 80.49
2014-12-31 259.96 14.81 31.27
2014-09-30 259.96 14.81 31.27
2014-06-30 16.46 267.00 9.46
2014-03-31 16.46 267.00 9.46
2013-12-31 -136.04 479.77 13.45
2013-09-30 -136.04 479.77 13.45
2013-06-30 -74.12 464.43 32.12
  • eForce Holdings's level of debt (23.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5.6% vs 23.1% today).
  • Debt is not well covered by operating cash flow (8.3%, less than 20% of total debt).
  • Unable to confirm if the interest payments on eForce Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess eForce 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. eForce Holdings has a total score of 3/6, 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.

943 Dividends

 What is eForce 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 eForce Holdings dividends.
If you bought HK$2,000 of eForce Holdings shares you are expected to receive HK$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 eForce Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate eForce 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
SEHK:943 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 0 Analyst Estimates (S&P Global) See Below
Hong Kong Personal Products Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 951 Stocks 4.3%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.3%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.6%
Hong Kong Top 25% Dividend Yield 75th Percentile 7.3%

Industry and Market average data is calculated daily.

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

SEHK:943 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts

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

  • Unable to perform a dividend volatility check as eForce Holdings has not reported any payouts.
  • Unable to verify if eForce Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of eForce Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as eForce Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess eForce Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 eForce Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. eForce 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.

943 Management

 What is the CEO of eForce 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
Liyang Liu
COMPENSATION HK$3,018,000
AGE 59
TENURE AS CEO 9.7 years
CEO Bio

Mr. Liyang Liu serves as Partner of Orient ES Capital Group Ltd. Mr. Liu has been the Chief Executive Officer and Executive Director of Eforce Holdings Ltd. since August 19, 2010. He served as the Chairman of Munsun Capital Group Limited until September 5, 2018. Mr. Liu served as an Executive Director of Munsun Capital Group Limited (alternate name: China Precious Metal Resources Holdings Co., Ltd.) since October 13, 2015 to until 24th october,2018He has over 16 years of experience in the investment banking industry. He served as Deputy Chairman of Eforce Holdings Ltd. since August 19, 2010 until January 18, 2018. Before joining Eforce, he was the Co-Head of the China Investment Banking of Nomura International (HK) Limited. He had also worked in the Merrill Lynch (Asia Pacific) Limited, China International Capital Corporation Limited and Morgan Stanley & Co. Inc. He has been an Independent Non Executive Director of Beautiful China Holdings Company Limited since May 28, 2014. He holds an M.B.A. from Columbia University.

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

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

2.3
Average Tenure
58
Average Age
  • The tenure for the eForce Holdings management team is about average.
Management Team

Chung Shan Leung

TITLE
Executive Chairman
COMPENSATION
HK$3M
AGE
58
TENURE
2.3 yrs

Liyang Liu

TITLE
CEO & Executive Director
COMPENSATION
HK$3M
AGE
59
TENURE
9.7 yrs

Franky Tam

TITLE
Vice Chairman
COMPENSATION
HK$1M
AGE
71

Thomas Chan

TITLE
Executive Director
COMPENSATION
HK$668K
AGE
53

Min Situ

TITLE
CFO & Company Secretary
AGE
49
TENURE
0.8 yrs
Board of Directors Tenure

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

6.1
Average Tenure
55.5
Average Age
  • The tenure for the eForce Holdings board of directors is about average.
Board of Directors

Chung Shan Leung

TITLE
Executive Chairman
COMPENSATION
HK$3M
AGE
58
TENURE
2.3 yrs

Liyang Liu

TITLE
CEO & Executive Director
COMPENSATION
HK$3M
AGE
59
TENURE
9.7 yrs

Franky Tam

TITLE
Vice Chairman
COMPENSATION
HK$1M
AGE
71
TENURE
2.3 yrs

Thomas Chan

TITLE
Executive Director
COMPENSATION
HK$668K
AGE
53
TENURE
6.1 yrs

Hon Kuen Li

TITLE
Independent Non-Executive Director
COMPENSATION
HK$132K
AGE
53
TENURE
6.8 yrs

Chi Hung Leung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$132K
AGE
63
TENURE
6.3 yrs

Aaron Hau

TITLE
Independent Non-Executive Director
COMPENSATION
HK$132K
AGE
47
TENURE
6.1 yrs

Kim Chai Lim

TITLE
Non-Executive Director
AGE
52
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess eForce 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. eForce 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.

943 News

Simply Wall St News

How Much Of eForce Holdings Limited (HKG:943) Do Insiders Own?

As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' With a market capitalization of HK$1.8b, eForce Holdings is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for eForce Holdings SEHK:943 Ownership Summary, September 4th 2019 What Does The Lack Of Institutional Ownership Tell Us About eForce Holdings? … Insider Ownership Of eForce Holdings The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Here's Why eForce Holdings (HKG:943) Can Manage Its Debt Responsibly

This short term liquidity is a sign that eForce Holdings could probably pay off its debt with ease, as its balance sheet is far from stretched. … While eForce Holdings has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance. … Summing up While it is always sensible to investigate a company's debt, in this case eForce Holdings has HK$2.5m in net cash and a decent-looking balance sheet.

Simply Wall St -

How Should Investors React To eForce Holdings Limited's (HKG:943) CEO Pay?

See our latest analysis for eForce Holdings How Does Liyang Liu's Compensation Compare With Similar Sized Companies? … I think that the total shareholder return of 83%, over three years, would leave most eForce Holdings Limited shareholders smiling. … We compared total CEO remuneration at eForce Holdings Limited with the amount paid at companies with a similar market capitalization.

Simply Wall St -

Can eForce Holdings Limited (HKG:943) Improve Its Returns?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for eForce Holdings: 4.5% = HK$55m ÷ HK$1.2b (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does eForce Holdings Have A Good Return On Equity? … eForce Holdings's Debt And Its 4.5% ROE While eForce Holdings does have a tiny amount of debt, with debt to equity of just 0.015, we think the use of debt is very modest.

Simply Wall St -

Do Insiders Own Lots Of Shares In eForce Holdings Limited (HKG:943)?

Check out our latest analysis for eForce Holdings SEHK:943 Ownership Summary, May 16th 2019 What Does The Lack Of Institutional Ownership Tell Us About eForce Holdings? … Insider Ownership Of eForce Holdings The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … Private Company Ownership Our data indicates that Private Companies hold 18%, of the company's shares.

Simply Wall St -

Why You Should Care About eForce Holdings Limited’s (HKG:943) Low Return On Capital

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

How Should Investors Feel About eForce Holdings Limited's (HKG:943) CEO Pay?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Liyang Liu's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that eForce Holdings Limited has a market cap of HK$1.8b, and is paying total annual CEO compensation of HK$3.0m.

Simply Wall St -

Those Who Purchased eForce Holdings (HKG:943) Shares Five Years Ago Have A 98% Loss To Show For It

It is doubtless a positive to see that the eForce Holdings Limited (HKG:943) share price has gained some 57% in the last three months. … During five years of share price growth, eForce Holdings moved from a loss to profitability. … A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity.

Simply Wall St -

How Much Of eForce Holdings Limited (HKG:943) Do Insiders Own?

The big shareholder groups in eForce Holdings Limited (HKG:943) have power over the company. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … With a market capitalization of HK$1.3b, eForce Holdings is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

How Much Did eForce Holdings Limited's (HKG:943) CEO Pocket Last Year?

Liyang Liu became the CEO of eForce Holdings Limited (HKG:943) in 2010. … How Does Liyang Liu's Compensation Compare With Similar Sized Companies. … According to our data, eForce Holdings Limited has a market capitalization of HK$1.1b, and pays its CEO total annual compensation worth HK$3.0m.

Simply Wall St -

943 Company Info

Description

eForce Holdings Limited, an investment holding company, manufactures, trades in, and sells healthcare and household products. It is also involved in money lending business; holding trademarks; and owning a coal mining concession. In addition, the company engages in the production and sale of microorganism fertilizers and agricultural products; cultivation and processing of organic vegetable and fruits; and provision of management services. The company operates in the United States, the People’s Republic of China, Germany, France, the United Kingdom, Japan, Hong Kong, and internationally. eForce Holdings Limited is headquartered in Central, Hong Kong.

Details
Name: eForce Holdings Limited
943
Exchange: SEHK
Founded:
HK$1,425,981,688
10,721,666,832
Website: http://www.eforce.com.hk
Address: eForce Holdings Limited
Man Yee Building,
Suite 3008,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 943 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 25. Jun 1997
Number of employees
Current staff
Staff numbers
779
eForce Holdings employees.
Industry
Personal Products
Household
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 12:53
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2018/03/27
Last earnings filing: 2020/03/22
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.