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International Housewares Retail

SEHK:1373
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1373
SEHK
HK$1B
Market Cap
  1. Home
  2. HK
  3. Retail
Company description

International Housewares Retail Company Limited, together with its subsidiaries, engages in the retail sale and trading of housewares products. The last earnings update was 77 days ago. More info.


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1373 Share Price and Events
7 Day Returns
5.9%
SEHK:1373
-3.6%
HK Specialty Retail
0.2%
HK Market
1 Year Returns
-13%
SEHK:1373
-23%
HK Specialty Retail
-22%
HK Market
1373 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
International Housewares Retail (1373) 5.9% -6.7% -4.3% -13% 9.1% -6.7%
HK Specialty Retail -3.6% -15.7% -20.5% -23% -21% -33.3%
HK Market 0.2% -10.6% -15.8% -22% -13.4% -28.8%
1 Year Return vs Industry and Market
  • 1373 outperformed the Specialty Retail industry which returned -23% over the past year.
  • 1373 outperformed the Market in Hong Kong which returned -22% over the past year.
Price Volatility
1373
Industry
5yr Volatility vs Market

Value

 Is International Housewares Retail 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 International Housewares Retail 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 International Housewares Retail.

SEHK:1373 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 7.5%
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:1373
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 1.6%
Equity Risk Premium S&P Global 6.1%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.736 (1 + (1- 25%) (43.73%))
0.985
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.55% + (0.985 * 6.07%)
7.53%

Discounted Cash Flow Calculation for SEHK:1373 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for International Housewares Retail 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:1373 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 7.53%)
2020 346.87 Est @ 42.27% 322.58
2021 451.13 Est @ 30.06% 390.16
2022 548.14 Est @ 21.5% 440.86
2023 633.20 Est @ 15.52% 473.61
2024 704.92 Est @ 11.33% 490.34
2025 764.09 Est @ 8.39% 494.28
2026 812.54 Est @ 6.34% 488.81
2027 852.39 Est @ 4.9% 476.87
2028 885.61 Est @ 3.9% 460.76
2029 913.89 Est @ 3.19% 442.18
Present value of next 10 years cash flows HK$4,480.00
SEHK:1373 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$913.89 × (1 + 1.55%) ÷ (7.53% – 1.55%)
HK$15,519.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$15,519.57 ÷ (1 + 7.53%)10
HK$7,509.09
SEHK:1373 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$4,480.00 + HK$7,509.09
HK$11,989.09
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$11,989.09 / 721.09
HK$16.63
SEHK:1373 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$16.63
Current discount Discount to share price of HK$1.80
= -1 x (HK$1.80 - HK$16.63) / HK$16.63
89.2%

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

Current Discount
Amount off the current price International Housewares Retail is available for.
Intrinsic value
>50%
Share price is HK$1.8 vs Future cash flow value of HK$16.63
Current Discount Checks
For International Housewares Retail to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • International Housewares Retail's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • International Housewares Retail's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for International Housewares Retail's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are International Housewares Retail's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1373 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-10-31) in HKD HK$0.17
SEHK:1373 Share Price ** SEHK (2020-04-06) in HKD HK$1.8
Hong Kong Specialty Retail Industry PE Ratio Median Figure of 35 Publicly-Listed Specialty Retail Companies 8.85x
Hong Kong Market PE Ratio Median Figure of 1,465 Publicly-Listed Companies 9.09x

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

** Primary Listing of International Housewares Retail.

SEHK:1373 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1373 Share Price ÷ EPS (both in HKD)

= 1.8 ÷ 0.17

10.88x

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

  • International Housewares Retail is overvalued based on earnings compared to the HK Specialty Retail industry average.
  • International Housewares Retail is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does International Housewares Retail's expected growth come at a high price?
Raw Data
SEHK:1373 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Hong Kong Specialty Retail Industry PEG Ratio Median Figure of 14 Publicly-Listed Specialty Retail Companies 0.48x
Hong Kong Market PEG Ratio Median Figure of 484 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 International Housewares Retail, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on International Housewares Retail's assets?
Raw Data
SEHK:1373 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-10-31) in HKD HK$0.98
SEHK:1373 Share Price * SEHK (2020-04-06) in HKD HK$1.8
Hong Kong Specialty Retail Industry PB Ratio Median Figure of 62 Publicly-Listed Specialty Retail Companies 0.8x
Hong Kong Market PB Ratio Median Figure of 2,244 Publicly-Listed Companies 0.71x
SEHK:1373 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1373 Share Price ÷ Book Value per Share (both in HKD)

= 1.8 ÷ 0.98

1.84x

* Primary Listing of International Housewares Retail.

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

  • International Housewares Retail is overvalued based on assets compared to the HK Specialty Retail industry average.
X
Value checks
We assess International Housewares Retail'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 Specialty Retail 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 Specialty Retail industry average (and greater than 0)? (1 check)
  5. International Housewares Retail has a total score of 2/6, 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 International Housewares Retail 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 International Housewares Retail 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
22.1%
Expected Specialty Retail industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is International Housewares Retail expected to grow at an attractive rate?
  • Unable to compare International Housewares Retail's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare International Housewares Retail's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare International Housewares Retail's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1373 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 22.1%
Hong Kong Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 10.3%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 9.7%

*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:1373 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:1373 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-04-30
2020-04-06
SEHK:1373 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-10-31 2,428 299 118
2019-07-31 2,389 200 119
2019-04-30 2,350 102 119
2019-01-31 2,302 134 117
2018-10-31 2,254 165 114
2018-07-31 2,242 140 110
2018-04-30 2,230 114 105
2018-01-31 2,199 118 99
2017-10-31 2,168 121 93
2017-07-31 2,140 133 90
2017-04-30 2,111 144 87
2017-01-31 2,096 141 84

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if International Housewares Retail is high growth as no earnings estimate data is available.
  • Unable to determine if International Housewares Retail 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:1373 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 International Housewares Retail Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1373 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-04-30
2020-04-06
SEHK:1373 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-10-31 0.17
2019-07-31 0.17
2019-04-30 0.17
2019-01-31 0.16
2018-10-31 0.16
2018-07-31 0.15
2018-04-30 0.15
2018-01-31 0.14
2017-10-31 0.13
2017-07-31 0.13
2017-04-30 0.12
2017-01-31 0.12

*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 International Housewares Retail will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Check out International Housewares Retail's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.
  2. International Housewares Retail'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 Retail companies here
  3. International Housewares Retail'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 International Housewares Retail'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.
International Housewares Retail 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 International Housewares Retail 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 International Housewares Retail's growth in the last year to its industry (Specialty Retail).
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.
  • International Housewares Retail's year on year earnings growth rate has been positive over the past 5 years.
  • International Housewares Retail's 1-year earnings growth is less than its 5-year average (3.6% vs 8.6%)
  • International Housewares Retail's earnings growth has exceeded the HK Specialty Retail industry average in the past year (3.6% vs -17.1%).
Earnings and Revenue History
International Housewares Retail'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 International Housewares Retail Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1373 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-10-31 2,428.41 118.36 991.23
2019-07-31 2,389.38 118.70 975.51
2019-04-30 2,350.35 119.05 959.80
2019-01-31 2,302.05 116.68 949.77
2018-10-31 2,253.75 114.30 939.75
2018-07-31 2,241.92 109.57 936.98
2018-04-30 2,230.10 104.85 934.20
2018-01-31 2,199.29 98.74 924.86
2017-10-31 2,168.47 92.63 915.52
2017-07-31 2,139.74 90.06 910.20
2017-04-30 2,111.00 87.49 904.88
2017-01-31 2,096.32 83.56 899.21
2016-10-31 2,081.65 79.63 893.54
2016-07-31 2,060.61 73.06 888.49
2016-04-30 2,039.58 66.49 883.43
2016-01-31 2,024.98 65.58 876.42
2015-10-31 2,010.39 64.67 869.41
2015-07-31 1,980.84 76.53 845.66
2015-04-30 1,951.28 88.39 821.91
2015-01-31 1,906.60 99.28 784.69
2014-10-31 1,861.91 110.16 747.48
2014-07-31 1,804.38 127.26 721.17
2014-04-30 1,746.84 144.37 694.86
2014-01-31 1,689.74 143.78 667.90
2013-10-31 1,632.65 143.20 640.95
2013-07-31 1,565.66 122.36 607.61
2013-04-30 1,498.67 101.53 574.28

*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.
  • International Housewares Retail has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • International Housewares Retail used its assets more efficiently than the HK Specialty Retail industry average last year based on Return on Assets.
  • International Housewares Retail has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess International Housewares Retail'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 Specialty Retail 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.
International Housewares Retail has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is International Housewares Retail'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 International Housewares Retail's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • International Housewares Retail is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • International Housewares Retail's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of International Housewares Retail's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 25.4x 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 International Housewares Retail Company Filings, last reported 5 months ago.

SEHK:1373 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-10-31 705.93 28.43 431.63
2019-07-31 705.93 28.43 431.63
2019-04-30 749.97 41.37 434.88
2019-01-31 749.97 41.37 434.88
2018-10-31 721.40 29.60 476.10
2018-07-31 721.40 29.60 476.10
2018-04-30 728.13 34.30 447.58
2018-01-31 728.13 34.30 447.58
2017-10-31 696.81 33.62 407.80
2017-07-31 696.81 33.62 407.80
2017-04-30 700.89 22.55 461.38
2017-01-31 700.89 22.55 461.38
2016-10-31 687.48 45.95 463.54
2016-07-31 687.48 45.95 463.54
2016-04-30 694.77 47.44 454.27
2016-01-31 694.77 47.44 454.27
2015-10-31 694.52 71.32 454.52
2015-07-31 694.52 71.32 454.52
2015-04-30 732.25 78.60 495.57
2015-01-31 732.25 78.60 495.57
2014-10-31 731.76 68.22 538.92
2014-07-31 731.76 68.22 538.92
2014-04-30 718.68 67.16 506.03
2014-01-31 718.68 67.16 506.03
2013-10-31 697.81 61.01 506.68
2013-07-31 697.81 61.01 506.68
2013-04-30 282.99 65.53 156.66
  • International Housewares Retail's level of debt (4%) 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 (9.3% vs 4% today).
  • Debt is well covered by operating cash flow (1050.2%, greater than 20% of total debt).
  • International Housewares Retail earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess International Housewares Retail'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. International Housewares Retail 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.

Dividends

 What is International Housewares Retail's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.06%
Current annual income from International Housewares Retail dividends.
If you bought HK$2,000 of International Housewares Retail shares you are expected to receive HK$161 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?
  • International Housewares Retail's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.7%).
  • International Housewares Retail's dividend is above the markets top 25% of dividend payers in Hong Kong (7.25%).
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:1373 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 Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 5.3%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 938 Stocks 4.3%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.3%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.7%
Hong Kong Top 25% Dividend Yield 75th Percentile 7.2%

Industry and Market average data is calculated daily.

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

SEHK:1373 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2020-04-30
2020-04-06
SEHK:1373 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-12-20 0.145 7.878
2019-07-30 0.143 7.548
2018-12-20 0.123 5.984
2018-09-04 0.122 6.855
2017-12-19 0.108 6.643
2017-09-25 0.106 7.175
2016-12-16 0.106 6.654
2016-08-24 0.106 6.864
2016-07-25 0.106 6.996
2015-09-25 0.112 9.190
2015-01-16 0.098 5.111
2014-12-18 0.098 4.895
2014-08-22 0.090 4.072
2014-07-24 0.090 2.906
2014-01-17 0.040 1.101
2013-12-17 0.040 1.161

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

  • Whilst dividend payments have been stable, International Housewares Retail has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but International Housewares Retail only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of International Housewares Retail's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x 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 International Housewares Retail'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 International Housewares Retail afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. International Housewares Retail has a total score of 3/6, 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 International Housewares Retail'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
Lai Ha Ngai
COMPENSATION HK$3,026,000
AGE 47
TENURE AS CEO 1.7 years
CEO Bio

Ms. Lai Ha Ngai is a Co-founder of International Housewares Retail Company Limited and has been its Chairman since March 1, 2017. Ms. Ngai has been the Chief Executive Officer of International Housewares Retail Company Ltd since August 7, 2018. She has played a crucial role in enhancing the efficiency of International Housewares Retail's daily operations, improving its financial performance and consolidating its market position in the Hong Kong housewares retail market. She is the head of International Housewares Retail's leasing team, which is responsible for identifying suitable locations for its stores, negotiating tenancy agreements and monitoring its rental expenses. She is actively involved in the overall management, business development and overseeing the business operations and human resources of International Housewares Retail. She served as Vice Chairman of International Housewares Retail Company Limited from September 4, 2013 to March 1, 2017. She has been an Executive Director at International Housewares Retail Company Limited since April 18, 2013. She is a member of the Nanjing Committee of the Chinese People’s Political Consultative Conference, a council member of the Jiangsu Chinese Overseas Friendship Association and Scout Association of Hong Kong. She is a governing council member of the Quality Tourism Services Association, an executive vice president of the Professional Validation Centre of Hong Kong Business Sector, an honorary director of the University of Hong Kong Foundation, an honorary president of Nanjing (H.K.) Association Limited, an executive committee of the Guangdong Federation of Industry and Commerce, the district vice president of the Yau Tsim District and a vice chairman of the Board of Grateful Heart Charitable Foundation. She is also the Honorary Fellow of the Professional Validation Centre of Hong Kong Business Sector in 2015. She was honored the “Excellent Businesswomen” of the year by the Hong Kong Commercial Daily in 2017. Ms. Ngai graduated from the Open University of Hong Kong with a Bachelor of Business Administration degree in December 2002 through distance learning.

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

Lai Ha Ngai

TITLE
Co-Founder
COMPENSATION
HK$3M
AGE
47
TENURE
1.7 yrs

Peter Lau

TITLE
Co-Founder & Honorary Chairman
COMPENSATION
HK$522K
AGE
62

Sing Yuk Cheng

TITLE
CFO, Financial Controller & Executive Director
COMPENSATION
HK$2M
AGE
61

Christopher Neo

TITLE
Chief Development Officer
AGE
49

Ka Ho Yuen

TITLE
Chief Operating Officer
AGE
52

Kin Man Wong

TITLE
Chief Information Officer
AGE
46

Chak Yiu Wong

TITLE
Senior Administration Manager

Mai Na Lin

TITLE
Head of Purchasing - Greater China Division

Kathryn Ho

TITLE
Deputy Chief Executive
AGE
52

Ching Fan Koo

TITLE
Company Secretary
AGE
49
Board of Directors Tenure

Average tenure and age of the International Housewares Retail board of directors in years:

3.1
Average Tenure
61
Average Age
  • The tenure for the International Housewares Retail board of directors is about average.
Board of Directors

Lai Ha Ngai

TITLE
Co-Founder
COMPENSATION
HK$3M
AGE
47
TENURE
3.1 yrs

Peter Lau

TITLE
Co-Founder & Honorary Chairman
COMPENSATION
HK$522K
AGE
62
TENURE
3.1 yrs

Sing Yuk Cheng

TITLE
CFO, Financial Controller & Executive Director
COMPENSATION
HK$2M
AGE
61
TENURE
7 yrs

Rene Mang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$273K
AGE
67
TENURE
5.4 yrs

Yiu Keung Yeung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$43K
AGE
56
TENURE
1.3 yrs

Boon Yip Yee

TITLE
Independent Non-Executive Director
COMPENSATION
HK$120K
AGE
41
TENURE
4.6 yrs

Davy Lau

TITLE
Non -Executive Director
COMPENSATION
HK$200K
AGE
64
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by International Housewares Retail individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
14. Feb 20 Sell FMR LLC Company 11. Feb 20 11. Feb 20 -2,025,300 HK$2.12 HK$-4,300,313
11. Feb 20 Sell FIL Limited Company 06. Feb 20 06. Feb 20 -3,811,000 HK$2.00 HK$-7,633,803
23. Jan 20 Buy David Webb Individual 20. Jan 20 20. Jan 20 181,000 HK$1.84 HK$333,022
13. Jan 20 Sell FMR LLC Company 08. Jan 20 08. Jan 20 -1,045,000 HK$1.87 HK$-1,954,362
10. Jan 20 Sell FIL Limited Company 07. Jan 20 07. Jan 20 -621,000 HK$1.89 HK$-1,171,703
08. Jan 20 Buy FIL Limited Company 03. Jan 20 03. Jan 20 1,675,000 HK$1.86 HK$3,115,501
31. Dec 19 Sell FIL Limited Company 24. Dec 19 24. Dec 19 -367,000 HK$1.83 HK$-671,684
24. Dec 19 Sell FMR LLC Company 19. Dec 19 19. Dec 19 -111,000 HK$1.78 HK$-197,658
29. Nov 19 Sell FMR LLC Company 26. Nov 19 26. Nov 19 -565,000 HK$1.80 HK$-1,017,735
28. Nov 19 Sell FIL Limited Company 25. Nov 19 25. Nov 19 -786,000 HK$1.80 HK$-1,414,802
04. Oct 19 Sell FMR LLC Company 30. Sep 19 30. Sep 19 -66,000 HK$1.89 HK$-124,826
04. Oct 19 Sell FIL Limited Company 30. Sep 19 30. Sep 19 -259,000 HK$1.89 HK$-489,640
20. Aug 19 Sell FIL Limited Company 15. Aug 19 15. Aug 19 -166,000 HK$2.00 HK$-331,668
03. Jul 19 Sell FIL Limited Company 27. Jun 19 27. Jun 19 -109,000 HK$2.29 HK$-249,686
28. May 19 Buy Lai Ha Ngai Individual 27. May 19 27. May 19 989,000 HK$2.00 HK$1,977,997
27. May 19 Buy Lai Ha Ngai Individual 24. May 19 24. May 19 2,000,000 HK$1.99 HK$3,979,798
22. May 19 Buy Lai Ha Ngai Individual 20. May 19 20. May 19 1,000,000 HK$1.98 HK$1,980,002
20. May 19 Buy Lai Ha Ngai Individual 17. May 19 17. May 19 1,146,000 HK$2.00 HK$2,289,707
20. May 19 Buy Lai Ha Ngai Individual 16. May 19 16. May 19 1,000,000 HK$2.03 HK$2,029,999
16. May 19 Buy Lai Ha Ngai Individual 15. May 19 15. May 19 1,000,000 HK$2.03 HK$2,029,901
16. May 19 Buy Lai Ha Ngai Individual 14. May 19 14. May 19 711,000 HK$2.02 HK$1,436,223
14. May 19 Buy Lai Ha Ngai Individual 10. May 19 10. May 19 225,000 HK$2.01 HK$452,024
14. May 19 Buy Lai Ha Ngai Individual 09. May 19 09. May 19 1,500,000 HK$2.01 HK$3,019,499
09. May 19 Buy Lai Ha Ngai Individual 08. May 19 08. May 19 1,018,000 HK$2.04 HK$2,076,411
07. May 19 Buy Lai Ha Ngai Individual 06. May 19 06. May 19 1,000,000 HK$2.04 HK$2,039,901
03. May 19 Buy Lai Ha Ngai Individual 02. May 19 02. May 19 500,000 HK$2.06 HK$1,029,998
02. May 19 Buy Lai Ha Ngai Individual 30. Apr 19 30. Apr 19 125,000 HK$2.05 HK$256,250
24. Apr 19 Buy Lai Ha Ngai Individual 23. Apr 19 23. Apr 19 960,000 HK$2.07 HK$1,987,197
18. Apr 19 Buy Lai Ha Ngai Individual 18. Apr 19 18. Apr 19 498,000 HK$2.07 HK$1,028,371
X
Management checks
We assess International Housewares Retail'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. International Housewares Retail 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

A Closer Look At International Housewares Retail Company Limited's (HKG:1373) Impressive ROE

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for International Housewares Retail: 16% = HK$119m ÷ HK$750m (Based on the trailing twelve months to April 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does International Housewares Retail Have A Good Return On Equity? … Combining International Housewares Retail's Debt And Its 16% Return On Equity Although International Housewares Retail does use a little debt, its debt to equity ratio of just 0.055 is very low.

Simply Wall St -

Read This Before Selling International Housewares Retail Company Limited (HKG:1373) Shares

So before you buy or sell International Housewares Retail Company Limited (HKG:1373), you may well want to know whether insiders have been buying or selling. … SEHK:1373 Recent Insider Trading, August 19th 2019 International Housewares Retail Insiders Bought Stock Recently Over the last quarter, International Housewares Retail insiders have spent a meaningful amount on shares. … Along with the high insider ownership, this analysis suggests that insiders are quite bullish about International Housewares Retail.

Simply Wall St -

Are International Housewares Retail Company Limited’s (HKG:1373) High Returns Really That Great?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for International Housewares Retail: 0.18 = HK$139m ÷ (HK$1.0b - HK$276m) (Based on the trailing twelve months to April 2019.) Therefore, International Housewares Retail has an ROCE of 18%. … International Housewares Retail's ROCE appears to be substantially greater than the 13% average in the Specialty Retail industry. … Do International Housewares Retail's Current Liabilities Skew Its ROCE?

Simply Wall St -

Despite Its High P/E Ratio, Is International Housewares Retail Company Limited (HKG:1373) Still Undervalued?

We'll look at International Housewares Retail Company Limited's (HKG:1373) P/E ratio and reflect on what it tells us about the company's share price. … Check out our latest analysis for International Housewares Retail How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for International Housewares Retail: P/E of 12.05 = HK$2 ÷ HK$0.17 (Based on the year to April 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Something To Consider Before Buying International Housewares Retail Company Limited (HKG:1373) For The 5.5% Dividend

Dividend paying stocks like International Housewares Retail Company Limited (HKG:1373) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if International Housewares Retail is a new dividend aristocrat in the making. … International Housewares Retail has been paying a dividend for the past six years.

Simply Wall St -

International Housewares Retail Company Limited (HKG:1373): The Best Of Both Worlds

Today I've chosen to put the spotlight on International Housewares Retail Company Limited (HKG:1373) due to its excellent fundamentals in more than one area. … If you're interested in understanding beyond my broad commentary, read the full report on International Housewares Retail here. … SEHK:1373 Income Statement, July 12th 2019 Next Steps: For International Housewares Retail, there are three important aspects you should further examine: Future Outlook: What are well-informed industry analysts predicting for 1373’s future growth?

Simply Wall St -

Could The International Housewares Retail Company Limited (HKG:1373) Ownership Structure Tell Us Something Useful?

The big shareholder groups in International Housewares Retail Company Limited (HKG:1373) have power over the company. … Insider Ownership Of International Housewares Retail The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Simply Wall St -

Boasting A 16% Return On Equity, Is International Housewares Retail Company Limited (HKG:1373) A Top Quality Stock?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for International Housewares Retail: 16% = HK$114m ÷ HK$721m (Based on the trailing twelve months to October 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does International Housewares Retail Have A Good Return On Equity? … Combining International Housewares Retail's Debt And Its 16% Return On Equity While International Housewares Retail does have a tiny amount of debt, with debt to equity of just 0.042, we think the use of debt is very modest.

Simply Wall St -

The International Housewares Retail (HKG:1373) Share Price Is Up 73% And Shareholders Are Holding On

For example, the International Housewares Retail Company Limited (HKG:1373) share price is up 73% in the last three years, clearly besting than the market return of around 28% (not including dividends). … International Housewares Retail was able to grow its EPS at 21% per year over three years, sending the share price higher. … A Different Perspective It's nice to see that International Housewares Retail shareholders have received a total shareholder return of 23% over the last year.

Simply Wall St -

Here's Why We Think International Housewares Retail (HKG:1373) Is Well Worth Watching

In contrast to all that, I prefer to spend time on companies like International Housewares Retail (HKG:1373), which has not only revenues, but also profits. … International Housewares Retail's Earnings Per Share Are Growing. … While we note International Housewares Retail's EBIT margins were flat over the last year, revenue grew by a solid 3.9% to HK$2.3b.

Simply Wall St -

Company Info

Description

International Housewares Retail Company Limited, together with its subsidiaries, engages in the retail sale and trading of housewares products. The company operates its stores under the Japan Home Centre, Japan Home, 123 by ELLA, City Life, and Epo Gifts & Stationery brands. It has a retail network comprising 365 stores in Hong Kong, Singapore, Macau, East Malaysia, Cambodia, Australia, and Vietnam. The company is also involved in licensing of franchise rights; and the provision of management services. In addition, it engages in the manufacture and export of housewares products; property investment activities; and retail sale of gifts and accessories. The company was founded in 1991 and is headquartered in Wong Chuk Hang, Hong Kong.

Details
Name: International Housewares Retail Company Limited
1373
Exchange: SEHK
Founded: 1991
HK$1,240,277,758
721,091,720
Website: http://www.japanhome.com.hk
Address: International Housewares Retail Company Limited
Tower B, Southmark,
20th Floor,
Wong Chuk Hang,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1373 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 25. Sep 2013
Number of employees
Current staff
Staff numbers
2,240
International Housewares Retail employees.
Industry
Homefurnishing Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 13:19
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/01/31
Last earnings filing: 2020/01/20
Last earnings reported: 2019/10/31
Last annual earnings reported: 2019/04/30


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.