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Joyce Boutique Group

SEHK:647
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
647
SEHK
HK$447M
Market Cap
  1. Home
  2. HK
  3. Retail
Company description

Joyce Boutique Group Limited, an investment holding company, retails and distributes designer fashion garments, cosmetics, and accessories in Hong Kong, the People’s Republic of China, and internationally. The last earnings update was 124 days ago. More info.


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647 Share Price and Events
7 Day Returns
0%
SEHK:647
-3.6%
HK Specialty Retail
0.2%
HK Market
1 Year Returns
16.5%
SEHK:647
-23.8%
HK Specialty Retail
-22%
HK Market
647 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Joyce Boutique Group (647) 0% 1.9% 3.8% 16.5% -8.3% -41.5%
HK Specialty Retail -3.6% -14.5% -21.8% -23.8% -22.4% -34.3%
HK Market 0.2% -10.8% -16.5% -22% -13.4% -28.8%
1 Year Return vs Industry and Market
  • 647 outperformed the Specialty Retail industry which returned -23.8% over the past year.
  • 647 outperformed the Market in Hong Kong which returned -22% over the past year.
Price Volatility
647
Industry
5yr Volatility vs Market

647 Value

 Is Joyce Boutique Group 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 Joyce Boutique Group 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 Joyce Boutique Group.

SEHK:647 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 8.3%
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:647
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%) (78.06%))
1.112
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.55% + (1.112 * 6.07%)
8.3%

Discounted Cash Flow Calculation for SEHK:647 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Joyce Boutique Group 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:647 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 8.3%)
2020 73.64 Est @ 60.67% 67.99
2021 105.25 Est @ 42.93% 89.73
2022 137.37 Est @ 30.52% 108.14
2023 167.35 Est @ 21.83% 121.65
2024 193.70 Est @ 15.74% 130.01
2025 215.95 Est @ 11.49% 133.83
2026 234.31 Est @ 8.51% 134.08
2027 249.35 Est @ 6.42% 131.75
2028 261.72 Est @ 4.96% 127.68
2029 272.02 Est @ 3.94% 122.54
Present value of next 10 years cash flows HK$1,167.00
SEHK:647 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$272.02 × (1 + 1.55%) ÷ (8.3% – 1.55%)
HK$4,091.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$4,091.62 ÷ (1 + 8.3%)10
HK$1,843.16
SEHK:647 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,167.00 + HK$1,843.16
HK$3,010.16
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$3,010.16 / 1,624.00
HK$1.85
SEHK:647 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$1.85
Current discount Discount to share price of HK$0.28
= -1 x (HK$0.28 - HK$1.85) / HK$1.85
85.2%

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

Current Discount
Amount off the current price Joyce Boutique Group is available for.
Intrinsic value
>50%
Share price is HK$0.28 vs Future cash flow value of HK$1.85
Current Discount Checks
For Joyce Boutique Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Joyce Boutique Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Joyce Boutique Group'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 Joyce Boutique Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Joyce Boutique Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:647 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in HKD HK$-0.03
SEHK:647 Share Price ** SEHK (2020-03-24) in HKD HK$0.28
Hong Kong Specialty Retail Industry PE Ratio Median Figure of 35 Publicly-Listed Specialty Retail Companies 8.84x
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 Joyce Boutique Group.

SEHK:647 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:647 Share Price ÷ EPS (both in HKD)

= 0.28 ÷ -0.03

-8.43x

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

  • Joyce Boutique Group is loss making, we can't compare its value to the HK Specialty Retail industry average.
  • Joyce Boutique Group is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does Joyce Boutique Group's expected growth come at a high price?
Raw Data
SEHK:647 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -8.43x
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 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 Joyce Boutique Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Joyce Boutique Group's assets?
Raw Data
SEHK:647 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in HKD HK$0.23
SEHK:647 Share Price * SEHK (2020-03-24) in HKD HK$0.28
Hong Kong Specialty Retail Industry PB Ratio Median Figure of 63 Publicly-Listed Specialty Retail Companies 0.79x
Hong Kong Market PB Ratio Median Figure of 2,250 Publicly-Listed Companies 0.71x
SEHK:647 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:647 Share Price ÷ Book Value per Share (both in HKD)

= 0.28 ÷ 0.23

1.18x

* Primary Listing of Joyce Boutique Group.

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

  • Joyce Boutique Group is overvalued based on assets compared to the HK Specialty Retail industry average.
X
Value checks
We assess Joyce Boutique Group'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. Joyce Boutique Group 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.

647 Future Performance

 How is Joyce Boutique Group 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 Joyce Boutique Group 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
22.8%
Expected Specialty Retail industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Joyce Boutique Group expected to grow at an attractive rate?
  • Unable to compare Joyce Boutique Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Joyce Boutique Group's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Joyce Boutique Group's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:647 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 22.8%
Hong Kong Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 10.3%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.6%
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:647 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 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:647 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:647 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-09-30 769 59 -53
2019-06-30 807 37 -38
2019-03-31 845 16 -22
2018-12-31 867 24 -37
2018-09-30 889 31 -51
2018-06-30 876 24 -53
2018-03-31 862 16 -55
2017-12-31 865 15 -54
2017-09-30 869 14 -53
2017-06-30 915 32 -48
2017-03-31 962 50 -42
2016-12-31 1,020 36 -51

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Joyce Boutique Group is high growth as no earnings estimate data is available.
  • Unable to determine if Joyce Boutique Group 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:647 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Joyce Boutique Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:647 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:647 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-09-30 -0.03
2019-06-30 -0.02
2019-03-31 -0.01
2018-12-31 -0.02
2018-09-30 -0.03
2018-06-30 -0.03
2018-03-31 -0.03
2017-12-31 -0.03
2017-09-30 -0.03
2017-06-30 -0.03
2017-03-31 -0.03
2016-12-31 -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 Joyce Boutique Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Joyce Boutique Group'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. Joyce Boutique Group'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. Joyce Boutique Group'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 Joyce Boutique Group'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.
Joyce Boutique Group 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.

647 Past Performance

  How has Joyce Boutique Group 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 Joyce Boutique Group'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.
  • Joyce Boutique Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Joyce Boutique Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Joyce Boutique Group's 1-year growth to the HK Specialty Retail industry average as it is not currently profitable.
Earnings and Revenue History
Joyce Boutique Group'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 Joyce Boutique Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:647 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 769.26 -52.97 111.90
2019-06-30 807.35 -37.63 120.59
2019-03-31 845.44 -22.29 129.29
2018-12-31 867.46 -36.59 140.34
2018-09-30 889.47 -50.88 151.40
2018-06-30 875.87 -52.80 147.93
2018-03-31 862.27 -54.73 144.46
2017-12-31 865.43 -54.05 136.42
2017-09-30 868.59 -53.38 128.37
2017-06-30 915.11 -47.62 131.13
2017-03-31 961.63 -41.85 133.89
2016-12-31 1,020.15 -50.79 139.96
2016-09-30 1,078.67 -59.73 146.03
2016-06-30 1,129.88 -68.87 152.47
2016-03-31 1,181.09 -78.02 158.90
2015-12-31 1,218.94 -56.31 159.81
2015-09-30 1,256.79 -34.61 160.71
2015-06-30 1,292.53 -0.77 161.96
2015-03-31 1,328.28 33.08 163.22
2014-12-31 1,352.96 48.28 169.09
2014-09-30 1,377.64 63.48 174.96
2014-06-30 1,359.72 62.58 173.41
2014-03-31 1,341.80 61.68 171.86
2013-12-31 1,320.78 63.33 170.21
2013-09-30 1,299.77 64.99 168.55
2013-06-30 1,284.80 64.65 169.91

*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 Joyce Boutique Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Joyce Boutique Group has efficiently used its assets last year compared to the HK Specialty Retail industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Joyce Boutique Group 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 Joyce Boutique Group'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.
Joyce Boutique Group 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.

647 Health

 How is Joyce Boutique Group'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 Joyce Boutique Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Joyce Boutique Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Joyce Boutique Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Joyce Boutique Group'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.
  • Joyce Boutique Group has no debt, it does not need to be covered by short term assets.
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 Joyce Boutique Group Company Filings, last reported 6 months ago.

SEHK:647 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 379.20 0.00 303.95
2019-06-30 379.20 0.00 303.95
2019-03-31 452.98 0.00 383.31
2018-12-31 452.98 0.00 383.31
2018-09-30 459.39 0.00 361.92
2018-06-30 459.39 0.00 361.92
2018-03-31 483.43 0.00 358.62
2017-12-31 483.43 0.00 358.62
2017-09-30 504.98 0.00 308.77
2017-06-30 504.98 0.00 308.77
2017-03-31 529.26 0.00 351.37
2016-12-31 529.26 0.00 351.37
2016-09-30 556.35 0.00 342.98
2016-06-30 556.35 0.00 342.98
2016-03-31 572.75 0.00 361.10
2015-12-31 572.75 0.00 361.10
2015-09-30 617.58 0.00 353.29
2015-06-30 617.58 0.00 353.29
2015-03-31 677.83 0.00 459.97
2014-12-31 677.83 0.00 459.97
2014-09-30 679.48 0.00 422.89
2014-06-30 679.48 0.00 422.89
2014-03-31 708.89 0.00 495.00
2013-12-31 708.89 0.00 495.00
2013-09-30 673.40 0.00 389.93
2013-06-30 673.40 0.00 389.93
  • Joyce Boutique Group has no debt.
  • Joyce Boutique Group has not taken on any debt in the past 5 years.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Joyce Boutique Group has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Joyce Boutique Group has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 12.6% per year.
X
Financial health checks
We assess Joyce Boutique Group'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. Joyce Boutique Group 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.

647 Dividends

 What is Joyce Boutique Group'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 Joyce Boutique Group dividends.
If you bought HK$2,000 of Joyce Boutique Group 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 Joyce Boutique Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Joyce Boutique Group'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:647 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 19 Stocks 5.3%
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:647 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:647 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2016-12-09 0.000 0.000
2016-11-16 0.000 0.000
2016-07-15 0.000 0.000
2016-06-22 0.000 0.000
2015-07-17 0.020 5.655
2015-06-19 0.020 4.264
2014-07-28 0.035 7.085
2014-06-20 0.035 6.005
2013-07-26 0.035 6.309
2013-06-21 0.035 6.828
2012-07-27 0.050 8.711
2012-06-29 0.050 7.857
2011-07-27 0.040 5.556
2011-06-23 0.040 3.962
2010-07-29 0.010 1.800
2010-07-14 0.010 3.386
2009-12-29 0.000 0.000
2009-12-04 0.000 0.000
2009-07-29 0.000 0.000
2009-06-17 0.000 0.000

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

  • Unable to perform a dividend volatility check as Joyce Boutique Group has not reported any payouts.
  • Unable to verify if Joyce Boutique Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Joyce Boutique Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Joyce Boutique Group 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 Joyce Boutique Group'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 Joyce Boutique Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Joyce Boutique Group 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.

647 Management

 What is the CEO of Joyce Boutique Group'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.
  • Joyce Boutique Group has no CEO, or we have no data on them.
Management Team

Andrew Keith

TITLE
President
COMPENSATION
HK$3M
AGE
49
TENURE
11.9 yrs

Kevin Hui

TITLE
Company Secretary
AGE
62
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the Joyce Boutique Group board of directors in years:

16.3
Average Tenure
71
Average Age
  • The average tenure for the Joyce Boutique Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Stephen Ng

TITLE
Non-Executive Chairman
AGE
67
TENURE
12.4 yrs

Eric Lo

TITLE
Independent Non-Executive Director
COMPENSATION
HK$45K
AGE
70
TENURE
23.3 yrs

Antonio Chan

TITLE
Independent Non-Executive Director
COMPENSATION
HK$55K
AGE
71
TENURE
16.3 yrs

Paul Tsui

TITLE
Non-Executive Director
AGE
72
TENURE
19.7 yrs

Tze Yuen Ng

TITLE
Independent Non Executive Director
COMPENSATION
HK$45K
AGE
71
TENURE
4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Joyce Boutique Group'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. Joyce Boutique Group 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.

647 News

Simply Wall St News

Does The Joyce Boutique Holdings Limited (HKG:647) Share Price Fall With The Market?

Anyone researching Joyce Boutique Holdings Limited (HKG:647) might want to consider the historical volatility of the share price. … The fact that this is well above 1 indicates that its share price movements have shown sensitivity to overall market volatility. … What this means for you: Since Joyce Boutique 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 -

How Joyce Boutique Holdings Limited (HKG:647) Can Impact Your Portfolio Volatility

If you're interested in Joyce Boutique Holdings Limited (HKG:647), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … The first thing to understand about beta is that the beta of the overall market is one.

Simply Wall St -

What You Must Know About Joyce Boutique Holdings Limited's (HKG:647) Financial Strength

Joyce Boutique Holdings Limited (HKG:647), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … However, the trade-off is 647 will have to follow strict debt obligations which will reduce its financial flexibility. … Does 647's growth rate justify its decision for financial flexibility over lower cost of capital

Simply Wall St -

What You Must Know About Joyce Boutique Holdings Limited's (HKG:647) Beta Value

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 -

Is Joyce Boutique Holdings Limited (HKG:647) A Financially Sound Company?

However, the trade-off is 647 will have to follow strict debt obligations which will reduce its financial flexibility. … Is financial flexibility worth the lower cost of capital. … Debt capital generally has lower cost of capital compared to equity funding

Simply Wall St -

Are Joyce Boutique Holdings Limited's (HKG:647) Interest Costs Too High?

Joyce Boutique Holdings Limited (HKG:647), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … However, the trade-off is 647 will have to follow strict debt obligations which will reduce its financial flexibility. … Is 647 growing fast enough to value financial flexibility over lower cost of capital

Simply Wall St -

Was Joyce Boutique Holdings Limited's (HKG:647) Earnings Growth Better Than The Industry's?

After looking at Joyce Boutique Holdings Limited's (SEHK:647) latest earnings announcement (30 September 2017), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … See our latest analysis for Joyce Boutique Holdings Did 647's recent earnings growth beat the long-term trend and the industry? … SEHK:647 Income Statement May 25th 18 We can further evaluate Joyce Boutique Holdings's loss by looking at what the industry has been experiencing over the past few years.

Simply Wall St -

Should You Be Concerned About Joyce Boutique Holdings Limited's (HKG:647) Shareholders?

View our latest analysis for Joyce Boutique Holdings SEHK:647 Ownership_summary Mar 19th 18 General Public Ownership The general public holds a substantial 27.10% stake in 647, making it a highly popular stock among retail investors. … This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: A large shareholding of 647 by the general public could mean higher market liquidity to buy and sell shares for retail investors, and also the potential to have more influence over company policies as a collective.

Simply Wall St -

Joyce Boutique Holdings Limited (HKG:647): Risks You Need To Consider Before Buying

The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market. … Based on this beta value, 647 appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … Therefore, this is a type of risk which is associated with higher beta.

Simply Wall St -

Interested In Joyce Boutique Holdings Limited (HKG:647)? Here's What Its Recent Performance Looks Like

When Joyce Boutique Holdings Limited (SEHK:647) released its most recent earnings update (30 September 2017), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Joyce Boutique Holdings's average earnings over the past couple of years, and its industry performance. … For Joyce Boutique Holdings, its most recent earnings (trailing twelve month) is -HK$53.38M, which compared to the previous year's figure, has become less negative.

Simply Wall St -

647 Company Info

Description

Joyce Boutique Group Limited, an investment holding company, retails and distributes designer fashion garments, cosmetics, and accessories in Hong Kong, the People’s Republic of China, and internationally. It also provides management services. As of March 31, 2019, it operated 34 shops, including 2 multi-label JOYCE stores, 1 JOYCE concession corner in Lane Crawford at IFC, 6 mono-brand shops, 10 JOYCE Beauty shops, and 1 JOYCE Warehouse outlet in Hong Kong; 2 multi-label JOYCE stores, 1 mono-brand shop, 2 JOYCE Beauty shops, and 1 JOYCE Warehouse outlet in Mainland China; and 7 Marni shops in Hong Kong. The company was founded in 1971 and is headquartered in Wong Chuk Hang, Hong Kong. Joyce Boutique Group Limited operates as a subsidiary of JoyBo International Limited.

Details
Name: Joyce Boutique Group Limited
647
Exchange: SEHK
Founded: 1971
HK$446,600,000
1,624,000,000
Website: http://www.joyce.com
Address: Joyce Boutique Group Limited
One Island South,
26th Floor,
Wong Chuk Hang,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 647 New Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
DB A2PQ2M New Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
374
Joyce Boutique Group employees.
Industry
Apparel Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 13:13
End of day share price update: 2020/03/24 00:00
Last estimates confirmation: 2019/06/06
Last earnings filing: 2019/12/02
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


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.