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Phoenix Media Investment (Holdings)

SEHK:2008
Snowflake Description

Adequate balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2008
SEHK
HK$3B
Market Cap
  1. Home
  2. HK
  3. Media
Company description

Phoenix Media Investment (Holdings) Limited, an investment holding company, provides satellite television broadcasting services in the People’s Republic of China and internationally. The last earnings update was 101 days ago. More info.


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2008 Share Price and Events
7 Day Returns
3.7%
SEHK:2008
3.8%
HK Media
3.5%
HK Market
1 Year Returns
-27.3%
SEHK:2008
-20.4%
HK Media
2.3%
HK Market
2008 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Phoenix Media Investment (Holdings) (2008) 3.7% 0% -16.4% -27.3% -57.6% -76.7%
HK Media 3.8% 1.9% 6.1% -20.4% -46.8% -62.7%
HK Market 3.5% 3.1% 1.1% 2.3% 12.7% 2.4%
1 Year Return vs Industry and Market
  • 2008 underperformed the Media industry which returned -20.4% over the past year.
  • 2008 underperformed the Market in Hong Kong which returned 2.3% over the past year.
Price Volatility
2008
Industry
5yr Volatility vs Market

Value

 Is Phoenix Media Investment (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 Phoenix Media Investment (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 Phoenix Media Investment (Holdings).

SEHK:2008 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-06-30) in HKD HK$ .010000
Payout Ratio Company Filings (2019-06-30) 2169.5%
Discount Rate (Cost of Equity) See below 8.4%
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:2008
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 1.6%
Equity Risk Premium S&P Global 6.1%
Media Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.765 (1 + (1- 25%) (52.68%))
1.125
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.55% + (1.125 * 6.07%)
8.38%

Discounted Cash Flow Calculation for SEHK:2008 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Phoenix Media Investment (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.

SEHK:2008 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= HK$0.01 / (8.38% - 1.55%)
HK$0.15
SEHK:2008 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.15
Current discount Discount to share price of HK$0.56
= -1 x (HK$0.56 - HK$0.15) / HK$0.15
-282.4%

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

  • The current share price of Phoenix Media Investment (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 Phoenix Media Investment (Holdings)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Phoenix Media Investment (Holdings)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2008 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in HKD HK$0.01
SEHK:2008 Share Price ** SEHK (2019-12-13) in HKD HK$0.56
Hong Kong Media Industry PE Ratio Median Figure of 19 Publicly-Listed Media Companies 23.66x
Hong Kong Market PE Ratio Median Figure of 1,472 Publicly-Listed Companies 10.31x

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

** Primary Listing of Phoenix Media Investment (Holdings).

SEHK:2008 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2008 Share Price ÷ EPS (both in HKD)

= 0.56 ÷ 0.01

55.48x

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

  • Phoenix Media Investment (Holdings) is overvalued based on earnings compared to the HK Media industry average.
  • Phoenix Media Investment (Holdings) is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Phoenix Media Investment (Holdings)'s expected growth come at a high price?
Raw Data
SEHK:2008 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 55.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Media Industry PEG Ratio Median Figure of 91 Publicly-Listed Media Companies 1.17x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.75x

*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 Phoenix Media Investment (Holdings), we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Phoenix Media Investment (Holdings)'s assets?
Raw Data
SEHK:2008 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in HKD HK$1.02
SEHK:2008 Share Price * SEHK (2019-12-13) in HKD HK$0.56
Hong Kong Media Industry PB Ratio Median Figure of 42 Publicly-Listed Media Companies 0.77x
Hong Kong Market PB Ratio Median Figure of 2,207 Publicly-Listed Companies 0.82x
SEHK:2008 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2008 Share Price ÷ Book Value per Share (both in HKD)

= 0.56 ÷ 1.02

0.55x

* Primary Listing of Phoenix Media Investment (Holdings).

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

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

Future Performance

 How is Phoenix Media Investment (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 Phoenix Media Investment (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
29.7%
Expected Media industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Phoenix Media Investment (Holdings) expected to grow at an attractive rate?
  • Unable to compare Phoenix Media Investment (Holdings)'s earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Phoenix Media Investment (Holdings)'s earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Phoenix Media Investment (Holdings)'s revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2008 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Media Industry Earnings Growth Rate Market Cap Weighted Average 29.7%
Hong Kong Media Industry Revenue Growth Rate Market Cap Weighted Average 13.1%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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:2008 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 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:2008 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-06-30 3,868 -114 50
2019-03-31 3,965 14 147
2018-12-31 4,063 143 244
2018-09-30 4,131 183 224
2018-06-30 4,200 223 203
2018-03-31 4,079 208 245
2017-12-31 3,957 193 286
2017-09-30 3,821 398 314
2017-06-30 3,685 604 341
2017-03-31 3,741 719 286
2016-12-31 3,798 835 231
2016-09-30 3,884 665 164

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Phoenix Media Investment (Holdings) is high growth as no earnings estimate data is available.
  • Unable to determine if Phoenix Media Investment (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:2008 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Phoenix Media Investment (Holdings) Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2008 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-06-30 0.01
2019-03-31 0.03
2018-12-31 0.05
2018-09-30 0.04
2018-06-30 0.04
2018-03-31 0.05
2017-12-31 0.06
2017-09-30 0.06
2017-06-30 0.07
2017-03-31 0.06
2016-12-31 0.05
2016-09-30 0.03

*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 Phoenix Media Investment (Holdings) will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Phoenix Media Investment (Holdings)'s financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Phoenix Media Investment (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 Media companies here
  3. Phoenix Media Investment (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 Phoenix Media Investment (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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong 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.
Phoenix Media Investment (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.

Past Performance

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

SEHK:2008 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 3,867.73 50.41 1,169.28
2019-03-31 3,965.27 147.10 1,160.95
2018-12-31 4,062.82 243.79 1,152.63
2018-09-30 4,131.28 223.58 1,127.63
2018-06-30 4,199.74 203.37 1,102.63
2018-03-31 4,078.62 244.81 1,057.17
2017-12-31 3,957.49 286.25 1,011.70
2017-09-30 3,821.01 313.62 969.33
2017-06-30 3,684.53 340.99 926.97
2017-03-31 3,741.40 285.75 932.96
2016-12-31 3,798.27 230.52 938.96
2016-09-30 3,884.11 163.85 951.19
2016-06-30 3,969.94 97.19 963.43
2016-03-31 4,085.42 103.77 937.98
2015-12-31 4,200.90 110.35 912.53
2015-09-30 4,289.38 261.31 895.08
2015-06-30 4,377.87 412.26 877.62
2015-03-31 4,498.12 537.99 837.99
2014-12-31 4,618.37 663.71 798.36
2014-09-30 4,699.01 705.99 754.50
2014-06-30 4,779.66 748.27 710.63
2014-03-31 4,793.06 840.33 702.83
2013-12-31 4,806.46 932.39 695.03
2013-09-30 4,678.78 911.95 692.75
2013-06-30 4,551.11 891.52 690.46
2013-03-31 4,443.73 862.44 669.76
2012-12-31 4,336.36 833.37 649.06

*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.
  • Phoenix Media Investment (Holdings) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Phoenix Media Investment (Holdings) used its assets less efficiently than the HK Media industry average last year based on Return on Assets.
  • It is difficult to establish if Phoenix Media Investment (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 Phoenix Media Investment (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 Media 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.
Phoenix Media Investment (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.

Health

 How is Phoenix Media Investment (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 Phoenix Media Investment (Holdings)'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Phoenix Media Investment (Holdings) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Phoenix Media Investment (Holdings)'s cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Phoenix Media Investment (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 11.3x 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 Phoenix Media Investment (Holdings) Company Filings, last reported 5 months ago.

SEHK:2008 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 7,305.63 708.56 5,488.98
2019-03-31 7,305.63 708.56 5,488.98
2018-12-31 7,736.15 1,207.91 4,951.08
2018-09-30 7,736.15 1,207.91 4,951.08
2018-06-30 7,488.48 1,332.25 2,867.41
2018-03-31 7,488.48 1,332.25 2,867.41
2017-12-31 7,312.59 1,236.36 2,715.40
2017-09-30 7,312.59 1,236.36 2,715.40
2017-06-30 6,791.67 1,249.49 2,371.36
2017-03-31 6,791.67 1,249.49 2,371.36
2016-12-31 6,628.78 1,269.27 2,697.66
2016-09-30 6,628.78 1,269.27 2,697.66
2016-06-30 6,366.01 1,488.59 2,877.44
2016-03-31 6,366.01 1,488.59 2,877.44
2015-12-31 6,544.37 1,516.02 3,023.74
2015-09-30 6,544.37 1,516.02 3,023.74
2015-06-30 6,636.66 1,512.61 2,974.52
2015-03-31 6,636.66 1,512.61 2,974.52
2014-12-31 6,970.75 1,132.50 3,724.38
2014-09-30 6,970.75 1,132.50 3,724.38
2014-06-30 6,521.50 1,057.77 3,610.66
2014-03-31 6,521.50 1,057.77 3,610.66
2013-12-31 6,538.54 745.23 3,688.27
2013-09-30 6,538.54 745.23 3,688.27
2013-06-30 5,849.52 699.79 3,265.71
2013-03-31 5,849.52 699.79 3,265.71
2012-12-31 5,625.22 630.23 3,138.57
  • Phoenix Media Investment (Holdings)'s level of debt (9.7%) 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 (16.2% vs 9.7% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Phoenix Media Investment (Holdings)'s debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Phoenix Media Investment (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. Phoenix Media Investment (Holdings) has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Phoenix Media Investment (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
1.79%
Current annual income from Phoenix Media Investment (Holdings) dividends.
If you bought HK$2,000 of Phoenix Media Investment (Holdings) shares you are expected to receive HK$36 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?
  • Phoenix Media Investment (Holdings)'s pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.21%).
  • Phoenix Media Investment (Holdings)'s dividend is below the markets top 25% of dividend payers in Hong Kong (6.15%).
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:2008 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 Media Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 5.7%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 961 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.3%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.2%
Hong Kong Top 25% Dividend Yield 75th Percentile 6.2%

Industry and Market average data is calculated daily.

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

SEHK:2008 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-06-05 0.010 1.581
2018-04-23 0.010 1.341
2018-03-16 0.010 1.096
2017-04-24 0.010 0.892
2016-04-21 0.010 0.651
2016-03-17 0.010 0.565
2015-04-22 0.040 2.072
2014-04-22 0.051 1.957
2013-04-22 0.051 1.818
2013-03-14 0.051 1.743
2012-03-15 0.042 1.683
2011-04-15 0.033 1.347
2010-03-23 0.020 0.860
2009-04-27 0.019 1.263
2009-03-13 0.019 2.405

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 Phoenix Media Investment (Holdings)'s earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
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 Phoenix Media Investment (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 Phoenix Media Investment (Holdings) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Phoenix Media Investment (Holdings) has a total score of 0/6, see the detailed checks below.


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

Management

 What is the CEO of Phoenix Media Investment (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
Changle Liu
COMPENSATION HK$9,446,000
AGE 68
TENURE AS CEO 19.8 years
CEO Bio

Mr. Changle Liu, J.P. is the Founder of Phoenix Satellite Television Holdings Ltd., and has been its Executive Chairman and Chief Executive Officer since February 2, 2000. Mr. Liu serves as the Chief Executive Officer of Phoenix Satellite Television Holdings Ltd, Investment Arm. He is a visiting professor of the Beijing Broadcasting Institute. He is an honorary visiting professor at the Communication University of China, at Nankai University, at Fudan University, at Xiamen University and at Sun Yat-Sen University. Mr. Liu served as Reporter, Editor, News Commentator and Senior Management at China Central People’s Radio Station and participated in the reporting and commentary of a number of important national occasions and events. He was a Justice of the Peace by the government of the Hong Kong Special Administrative Region since July 2004. He was the chairman of both the 2005 and 2006 iEMMYs Festival by the International Academy of Television Arts & Sciences since November 2004. He has been an Executive Director of Phoenix Satellite Television Holdings Ltd. since February 02, 2000. Mr. Liu was an Independent Non Executive Director of China Southern Airlines Co. Ltd. since November 30, 2011 until December 20, 2017. He serves as Independent Non Executive Director of Hong Kong Airlines International Holdings Limited. He served as a Director of Nanjing University since 2003 and also served as an Executive Chairman of Phoenix Satellite Television Holdings Ltd, Investment Arm. In the recent years he has received the following awards and honours: In December 2000, he was selected as “Intellect of the Media” in the “Top Ten Pairs in Focus 2000” election organized by China News week. In June 2001, Mr. Liu was ranked 17th of Asia’s most influential communicators in “The Power 50 2001” survey organized by Asia Week. He was also listed in the “Man of the Cover in the 21st Century Award” jointly organized by the United Nations Development Programme, the Poverty Reduction Office of the Chinese State Council and the Hong Kong Commercial Daily. In May 2004, Mr. Liu received the Robert Mundell Successful World CEO Award. At the Singapore Asia-Pacific Overseas Chinese Commercial Leaders Forum in June 2004, he together with Mr. LI Ka- Shing, Mr. KUOK Hock Mien and Mr. ZHANG Ruimin were among the 30 short-listed leaders and were also honoured with the “2004 Most Creative Asia-Pacific Overseas Chinese Business Leader Award”. In January 2005, Mr. Liu was listed in the “Man of the Year in China New Economy 2004” election organized by China Internet Weekly and co-organized by Sina.com. In the most outstanding CEO and outstanding enterprise in China region 2004 campaign, organized by an association of the “Association of International CEOs” in March 2005, he was awarded as “CEO of Outstanding Enterprise Award”. In December 2005, he was selected as one of the “Top 10 Elite Men of China” organized by Mangazine • Brand (Mangazine. At the China Summit Forum jointly hosted by the Contemporary Manager and Peking University in May 2006, Mr. Liu was selected as one of the “Top 10 Enterprising Leader Candidates”. Mr. Liu appeared in the “List of New Talents for Ten Years in 1996-2006” organized by New Weekly in August 2006. At the “Top 500 Asia Brand” jointly organized by the Certification & Supervision & Management Center for Asia International Reputed Brand and the China Economy Information under Economy Daily in September 2006, Mr. Liu received the “Man of Year for Asia Brand Innovation Award”. In October 2006, Mr. Liu received the “Prominent Person for Sculpturing Media Brand” award at the first China Brand Media Summit Forum & Brand Media Union. In November 2006, at “The Second World Prominent Chinese Businessman Convention” jointly hosted by the Ministry of Commerce of the People’s Republic of China, the Beijing Municipal Government and the World Prominent Chinese Businessman Association, Mr. Liu was given a “Top 100 Most Influential Chinese Businessman” award. In December 2006, Mr. Liu was also listed in “the 4th Top 25 Most Influential Business Leader” election organized by China Entrepreneur. In January 2007, Mr. Liu received the “Prominent Achievement for Chinese Philanthropy” award, the “Persons of Chinese Charity Award”, the “Person of Year in China Media Industry Award 2006” and the “Top 10 Entrepreneurs with Most Chinese Business Spirit Award”. Mr. Liu won the “Entrepreneur in Media Industry Award” in “Ernst & Young’s China Entrepreneur 2006” organized by Ernst & Young in February 2007. In January 2008, Mr. Liu received the “Special Contribution Awards of Top Ten Innovative Leading Figures of the Media in Mainland China” at the first Annual Meeting of Leading Figures of the Media in Mainland China. In September 2008, the “World Entrepreneur” magazine, edited by the World Brand Laboratory, listed “The Top 500 Brands of 2008 In Asia”. he Won the “Man of Year for Asia Brand Innovation Award” for the two consecutive years. Also at the thirtieth anniversary of the Economic Development of the Media Cup, he was honored “Media Elite” in China. On November 26, 2008, Mr. Liu was conferred the Chapter Honoree Award by the City University of Hong Kong Chapter of Beta Gamma Sigma for his contributions to Hong Kong society. In November 2006, Mr. Liu was awarded a medal by the National Academy of Television Arts and Sciences in recognition of Phoenix Satellite TV’s outstanding achievement in sponsoring and hosting the International Academy Day in Beijing in August 2006. He was the 2008 recipient of the International Emmy® Directorate Award. Mr. Liu graduated from the Beijing Broadcasting Institute (now the Communication University of China) in the early 1980. In November 2006, Mr. Liu received an Honorary Doctoral Degree from the City University of Hong Kong in recognition of his significant contribution to learning and the well-being of society.

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

Average tenure and age of the Phoenix Media Investment (Holdings) management team in years:

5.8
Average Tenure
62
Average Age
  • The average tenure for the Phoenix Media Investment (Holdings) management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Changle Liu

TITLE
Founder
COMPENSATION
HK$9M
AGE
68
TENURE
19.8 yrs

Keung Chui

TITLE
Deputy CEO
COMPENSATION
HK$5M
AGE
68

Ji Yan Wang

TITLE
Executive VP & Executive Director
COMPENSATION
HK$3M
AGE
70

Ya Li

TITLE
President
AGE
49

Ka Keung Yeung

TITLE
Executive VP
AGE
60

Shuang Liu

TITLE
Chief Operating Officer
AGE
50
TENURE
5.8 yrs

Daguang He

TITLE
Executive Vice President
AGE
62
TENURE
4.2 yrs
Board of Directors Tenure

Average tenure and age of the Phoenix Media Investment (Holdings) board of directors in years:

13.1
Average Tenure
68
Average Age
  • The average tenure for the Phoenix Media Investment (Holdings) board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Changle Liu

TITLE
Founder
COMPENSATION
HK$9M
AGE
68
TENURE
19.8 yrs

Keung Chui

TITLE
Deputy CEO
COMPENSATION
HK$5M
AGE
68
TENURE
19.5 yrs

Ji Yan Wang

TITLE
Executive VP & Executive Director
COMPENSATION
HK$3M
AGE
70
TENURE
13.3 yrs

Thaddeus Thomas Beczak

TITLE
Independent Non-Executive Director
COMPENSATION
HK$250K
AGE
68
TENURE
14.8 yrs

Hok Lim Leung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$250K
AGE
84
TENURE
14.9 yrs

Jianzhong Gong

TITLE
Non-Executive Director
AGE
57
TENURE
12.9 yrs

Fenglei Fang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$250K
AGE
67
TENURE
6.8 yrs

Di He

TITLE
Independent Non-Executive Director
COMPENSATION
HK$250K
AGE
72
TENURE
3.3 yrs

Qin Jian

TITLE
Non-Executive Director
AGE
52
TENURE
1.1 yrs

Dong Zhang

TITLE
Non Executive Director
AGE
50
TENURE
0.5 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 Phoenix Media Investment (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. Phoenix Media Investment (Holdings) has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

News

Simply Wall St News

How Does Investing In Phoenix Media Investment (Holdings) Limited (HKG:2008) Impact The Volatility Of Your Portfolio?

If you own shares in Phoenix Media Investment (Holdings) Limited (HKG:2008) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. … See our latest analysis for Phoenix Media Investment (Holdings) What does 2008's beta value mean to investors? … What this means for you: Since Phoenix Media Investment (Holdings) tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

The Phoenix Media Investment (Holdings) (HKG:2008) Share Price Is Down 77% So Some Shareholders Are Rather Upset

Anyone who held Phoenix Media Investment (Holdings) Limited (HKG:2008) for five years would be nursing their metaphorical wounds since the share price dropped 77% in that time. … View our latest analysis for Phoenix Media Investment (Holdings) In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … Looking back five years, both Phoenix Media Investment (Holdings)'s share price and EPS declined; the latter at a rate of 24% per year.

Simply Wall St -

Does The Phoenix Media Investment (Holdings) Limited (HKG:2008) Share Price Tend To Follow The Market?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility).

Simply Wall St -

Imagine Owning Phoenix Media Investment (Holdings) While The Price Tanked 68%

Phoenix Media Investment (Holdings) Limited (HKG:2008) shareholders should be happy to see the share price up 23% in the last month. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Looking back five years, both Phoenix Media Investment (Holdings)'s share price and EPS declined; the latter at a rate of 26% per year.

Simply Wall St -

Is Phoenix Media Investment (Holdings) Limited (HKG:2008) A Volatile Stock?

Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Don't Sell Phoenix Media Investment (Holdings) Limited (HKG:2008) Before You Read This

We'll look at Phoenix Media Investment (Holdings) Limited's (HKG:2008) P/E ratio and reflect on what it tells us about the company's share price. … Phoenix Media Investment (Holdings) has a price to earnings ratio of 19.64, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is Phoenix Media Investment (Holdings) Limited's (HKG:2008) CEO Being Overpaid?

Changle Liu became the CEO of Phoenix Media Investment (Holdings) Limited (HKG:2008) in 2000. … According to our data, Phoenix Media Investment (Holdings) Limited has a market capitalization of HK$3.1b, and pays its CEO total annual compensation worth HK$9m. … However, this does not necessarily mean Phoenix Media Investment (Holdings) Limited is paying too much.

Simply Wall St -

How Has Phoenix Media Investment (Holdings) Limited's (HKG:2008) Earnings Fared Against The Long Term Trend

Investors with a long-term horizong may find it valuable to assess Phoenix Media Investment (Holdings) Limited's (HKG:2008) earnings trend over time and against its industry benchmark as opposed to simply looking at a sincle earnings announcement at one point in time. … Below is my commentary, albiet very simple and high-level, on how Phoenix Media Investment (Holdings) is currently performing. … Check out our latest analysis for Phoenix Media Investment (Holdings)?

Simply Wall St -

Phoenix Media Investment (Holdings) Limited (HKG:2008)'s Return on Capital

and want to begin learning the link between Phoenix Media Investment (Holdings) Limited (HKG:2008)’s return fundamentals and stock market performance. … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … To understand Phoenix Media Investment (Holdings)’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Is Phoenix Media Investment (Holdings) Limited's (HKG:2008) Balance Sheet A Threat To Its Future?

While small-cap stocks, such as Phoenix Media Investment (Holdings) Limited (HKG:2008) with its market cap of HK$3.30b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is. … since poor capital management may bring about bankruptcies,

Simply Wall St -

Company Info

Description

Phoenix Media Investment (Holdings) Limited, an investment holding company, provides satellite television broadcasting services in the People’s Republic of China and internationally. The company operates in five segments: Television Broadcasting, Internet Media, Outdoor Media, Real Estate, and Other Activities. The Television Broadcasting segment engages in broadcasting television programs and commercials; and provision of promotion activities through the operation of Phoenix Chinese and Phoenix InfoNews channels, as well as Phoenix Movies, Phoenix North America Chinese, Phoenix Chinese News and Entertainment, Phoenix Hong Kong, and other channels. The Internet Media segment offers Website portal and value-added telecommunication services. The Outdoor Media segment provides outdoor advertising services. The Real Estate segment is involved in the property development and investment activities. The Other Activities segment offers program production and ancillary services, merchandising services, magazine publication and distribution, and other related services. The company also engages in radio broadcasting, research and development, cultural development, exhibition, and software and games development activities; publishing and distributing periodicals; and the provision of aircraft chartering, education, agency, data and media technology, and technical consulting services. Phoenix Media Investment (Holdings) Limited was founded in 1996 and is headquartered in Tai Po, Hong Kong.

Details
Name: Phoenix Media Investment (Holdings) Limited
2008
Exchange: SEHK
Founded: 1996
HK$2,796,342,920
4,993,469,500
Website: http://www.ifeng.com
Address: Phoenix Media Investment (Holdings) Limited
No. 2-6 Dai King Street,
Tai Po Industrial Estate,
Tai Po,
New Territories, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2008 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 30. Jun 2000
OTCPK PXST.F Ordinary Shares Pink Sheets LLC US USD 30. Jun 2000
BST 4PM Ordinary Shares Boerse-Stuttgart DE EUR 30. Jun 2000
Number of employees
Current staff
Staff numbers
2,803
Phoenix Media Investment (Holdings) employees.
Industry
Broadcasting
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/14 12:34
End of day share price update: 2019/12/13 00:00
Last earnings filing: 2019/09/04
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.