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CITIC Envirotech

SGX:CEE
Snowflake Description

Reasonable growth potential with worrying balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CEE
SGX
SGD1B
Market Cap
  1. Home
  2. SG
  3. Commercial Services
Company description

CITIC Envirotech Ltd., together with its subsidiaries, provides membrane-based integrated environmental solutions in the People’s Republic of China, Singapore, the United States, Malaysia, Kazakhstan, and Indonesia. The last earnings update was 91 days ago. More info.


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  • CITIC Envirotech has significant price volatility in the past 3 months.
CEE Share Price and Events
7 Day Returns
0%
SGX:CEE
0%
SG Commercial Services
-0.3%
SG Market
1 Year Returns
52.8%
SGX:CEE
23.2%
SG Commercial Services
2.1%
SG Market
CEE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CITIC Envirotech (CEE) 0% 1.9% 66.7% 52.8% -30.8% -32.1%
SG Commercial Services 0% 2% 23.7% 23.2% -16.8% -22.9%
SG Market -0.3% 1.4% 2.8% 2.1% 2.6% -7.4%
1 Year Return vs Industry and Market
  • CEE outperformed the Commercial Services industry which returned 23.2% over the past year.
  • CEE outperformed the Market in Singapore which returned 2.1% over the past year.
Price Volatility
CEE
Industry
5yr Volatility vs Market

CEE Value

 Is CITIC Envirotech 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 CITIC Envirotech 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 CITIC Envirotech.

SGX:CEE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-09-30) in SGD SGD 0.01
Payout Ratio Company Filings (2019-09-30) 5790.1%
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year SG Government Bond Rate 1.8%

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 SGX:CEE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 5.4%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.665 (1 + (1- 17%) (143.23%))
0.81
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.75% + (0.81 * 5.44%)
6.16%

Discounted Cash Flow Calculation for SGX:CEE using Dividend Discount Model Model

The calculations below outline how an intrinsic value for CITIC Envirotech 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.

SGX:CEE Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= SGD0.01 / (6.16% - 1.75%)
SGD0.23
SGX:CEE Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD0.23
Current discount Discount to share price of SGD0.55
= -1 x (SGD0.55 - SGD0.23) / SGD0.23
-142.4%

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

  • The current share price of CITIC Envirotech 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 CITIC Envirotech's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CITIC Envirotech's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:CEE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in SGD SGD-0.01
SGX:CEE Share Price ** SGX (2020-01-10) in SGD SGD0.55
Singapore Commercial Services Industry PE Ratio Median Figure of 12 Publicly-Listed Commercial Services Companies 18.05x
Singapore Market PE Ratio Median Figure of 380 Publicly-Listed Companies 13.46x

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

** Primary Listing of CITIC Envirotech.

SGX:CEE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:CEE Share Price ÷ EPS (both in SGD)

= 0.55 ÷ -0.01

-72.2x

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

  • CITIC Envirotech is loss making, we can't compare its value to the SG Commercial Services industry average.
  • CITIC Envirotech is loss making, we can't compare the value of its earnings to the Singapore market.
Price based on expected Growth
Does CITIC Envirotech's expected growth come at a high price?
Raw Data
SGX:CEE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -72.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
55.5%per year
Asia Commercial Services Industry PEG Ratio Median Figure of 82 Publicly-Listed Commercial Services Companies 1.56x
Singapore Market PEG Ratio Median Figure of 126 Publicly-Listed Companies 1.18x

*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 CITIC Envirotech, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CITIC Envirotech's assets?
Raw Data
SGX:CEE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in SGD SGD0.48
SGX:CEE Share Price * SGX (2020-01-10) in SGD SGD0.55
Singapore Commercial Services Industry PB Ratio Median Figure of 24 Publicly-Listed Commercial Services Companies 1.08x
Singapore Market PB Ratio Median Figure of 603 Publicly-Listed Companies 0.77x
SGX:CEE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:CEE Share Price ÷ Book Value per Share (both in SGD)

= 0.55 ÷ 0.48

1.15x

* Primary Listing of CITIC Envirotech.

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

  • CITIC Envirotech is overvalued based on assets compared to the SG Commercial Services industry average.
X
Value checks
We assess CITIC Envirotech'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. CITIC Envirotech has a total score of 0/6, 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.

CEE Future Performance

 How is CITIC Envirotech expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
55.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CITIC Envirotech expected to grow at an attractive rate?
  • CITIC Envirotech's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • CITIC Envirotech's earnings growth is expected to exceed the Singapore market average.
  • CITIC Envirotech's revenue growth is expected to exceed the Singapore market average.
Annual Growth Rates Comparison
Raw Data
SGX:CEE Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:CEE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 55.5%
SGX:CEE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 11.9%
Asia Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 16%
Asia Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 11.4%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.9%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 5.6%

*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
SGX:CEE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:CEE Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 843 82 1
2020-12-31 746 -140 73 1
2020-01-23
2019-12-31 669 -284 63 1
SGX:CEE Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-09-30 645 -385 -18
2019-06-30 719 -376 11
2019-03-31 807 -323 39
2018-12-31 994 -315 76
2018-09-30 1,037 -509 62
2018-06-30 1,016 -298 89
2018-03-31 837 -176 71
2017-12-31 677 -126 45
2017-09-30 596 281 128
2017-06-30 516 298 102
2017-03-31 545 273 101
2016-12-31 545 306 99

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CITIC Envirotech's earnings are expected to grow significantly at over 20% yearly.
  • CITIC Envirotech's revenue is expected to grow by 11.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SGX:CEE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

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

SGX:CEE Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.03 0.03 0.03 1.00
2020-12-31 0.03 0.03 0.03 1.00
2020-01-23
2019-12-31 0.03 0.03 0.03 1.00
SGX:CEE Past Financials Data
Date (Data in SGD Millions) EPS *
2019-09-30 -0.01
2019-06-30 0.00
2019-03-31 0.02
2018-12-31 0.03
2018-09-30 0.03
2018-06-30 0.04
2018-03-31 0.03
2017-12-31 0.02
2017-09-30 0.06
2017-06-30 0.05
2017-03-31 0.04
2016-12-31 0.04

*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 CITIC Envirotech will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess CITIC Envirotech's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CITIC Envirotech has a total score of 4/6, 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.

CEE Past Performance

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

SGX:CEE Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 645.30 -18.47 76.78
2019-06-30 719.22 10.66 66.96
2019-03-31 807.38 39.27 65.83
2018-12-31 994.47 75.52 65.23
2018-09-30 1,037.22 62.24 62.97
2018-06-30 1,016.15 89.47 60.79
2018-03-31 836.79 70.63 58.12
2017-12-31 677.17 44.61 57.67
2017-09-30 596.41 128.32 53.83
2017-06-30 516.37 102.26 53.05
2017-03-31 544.69 100.56 52.41
2016-12-31 544.56 99.31 51.25
2016-09-30 496.57 81.48 42.31
2016-06-30 430.35 72.29 46.99
2016-03-31 374.23 52.82 46.27
2015-12-31 335.98 48.30 44.65
2015-09-30 332.02 37.32 34.48
2015-06-30 366.51 40.08 30.82
2015-03-31 348.98 59.27 32.57
2014-12-31 329.81 50.55 19.82
2014-09-30 278.01 46.41 17.46
2014-06-30 224.60 36.87 16.41
2014-03-31 202.34 20.09 14.67
2013-12-31 207.12 28.33 14.30
2013-09-30 195.10 28.42 13.22
2013-06-30 197.05 29.36 12.19
2013-03-31 185.04 29.52 10.92

*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.
  • CITIC Envirotech has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CITIC Envirotech used its assets less efficiently than the SG Commercial Services industry average last year based on Return on Assets.
  • It is difficult to establish if CITIC Envirotech 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 CITIC Envirotech'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 Commercial Services 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.
CITIC Envirotech 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.

CEE Health

 How is CITIC Envirotech'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 CITIC Envirotech's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CITIC Envirotech is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CITIC Envirotech's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of CITIC Envirotech'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 not covered by short term assets, assets are 0.7x 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 CITIC Envirotech Company Filings, last reported 3 months ago.

SGX:CEE Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,378.19 1,905.00 520.64
2019-06-30 1,385.02 1,778.17 560.09
2019-03-31 1,412.31 1,523.80 397.08
2018-12-31 1,374.11 1,383.48 376.52
2018-09-30 1,906.76 801.37 385.39
2018-06-30 1,947.97 675.54 328.24
2018-03-31 1,960.45 771.26 568.04
2017-12-31 1,776.76 809.35 631.30
2017-09-30 1,573.54 799.85 439.96
2017-06-30 1,487.64 785.93 539.62
2017-03-31 1,482.18 567.75 399.47
2016-12-31 1,495.52 556.82 493.54
2016-09-30 1,379.40 535.29 406.61
2016-06-30 1,107.88 605.56 226.10
2016-03-31 1,127.17 657.55 332.03
2015-12-31 1,140.76 745.68 540.47
2015-09-30 885.85 700.28 296.74
2015-06-30 852.06 662.11 414.15
2015-03-31 741.35 377.78 113.76
2014-12-31 702.66 348.57 116.34
2014-09-30 658.96 352.71 119.80
2014-06-30 623.93 346.62 151.69
2014-03-31 319.21 308.16 142.23
2013-12-31 318.19 282.36 116.00
2013-09-30 286.78 228.11 82.23
2013-06-30 279.85 185.74 38.84
2013-03-31 271.33 188.98 59.60
  • CITIC Envirotech's level of debt (138.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (53.5% vs 138.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • CITIC Envirotech is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess CITIC Envirotech'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. CITIC Envirotech has a total score of 1/6, 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.

CEE Dividends

 What is CITIC Envirotech'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
1.36%
Current annual income from CITIC Envirotech dividends. Estimated to be 1.82% next year.
If you bought SGD2,000 of CITIC Envirotech shares you are expected to receive SGD27 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?
  • CITIC Envirotech's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.44%).
  • CITIC Envirotech's dividend is below the markets top 25% of dividend payers in Singapore (5.5%).
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
SGX:CEE 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 1 Analyst Estimates (S&P Global) See Below
Singapore Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 2.4%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 312 Stocks 4%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.6%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.4%
Singapore Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

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

SGX:CEE Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.01 1.00
2020-12-31 0.01 1.00
2020-01-23
2019-12-31 0.01 1.00
SGX:CEE Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-04-12 0.008 2.055
2019-02-26 0.008 1.591
2018-04-10 0.015 2.985
2017-04-10 0.008 1.009
2016-04-14 0.002 0.264
2015-07-15 0.003 0.338
2015-05-27 0.003 0.291
2014-07-16 0.002 0.196
2013-07-11 0.003 0.478
2012-05-29 0.002 0.646
2011-05-24 0.002 0.892
2010-07-01 0.002 0.718
2010-02-01 0.000 0.000
2009-11-05 0.000 0.000
2009-08-12 0.000 0.000
2009-05-26 0.000 0.000

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

  • CITIC Envirotech is not paying a notable dividend for Singapore, therefore no need to check if the payments are stable.
  • CITIC Envirotech is not paying a notable dividend for Singapore, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of CITIC Envirotech's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of CITIC Envirotech's dividends as it is not paying a notable one for Singapore.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess CITIC Envirotech's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 CITIC Envirotech afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CITIC Envirotech has a total score of 1/6, see the detailed checks below.


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

CEE Management

 What is the CEO of CITIC Envirotech'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
Weibao Hao
COMPENSATION SGD0
AGE 50
TENURE AS CEO 1.6 years
CEO Bio

Mr. Weibao Hao serves as the General Manager of CITIC Investments Holdings Limited. Mr. Hao serves as the President and Vice Chairman of CITIC Environment Investment Group Co., LTD. He is responsible for the day-to-day management of the CITIC Environment Investment Group Co., LTD and the effective implementation of corporate strategies and policies. He concurrently also serves as the President of CITIC Investment Holdings Limited. Before joining CITIC Group Corporation in 2008, he worked at Sinopec for over 14 years, where he gained a wide range of valuable experience in the fields of investment, finance and international trade. During his employment with Sinopec, he worked overseas for over 10 years, taking management and leadership positions in different offices worldwide. He has been an Executive Chairman and Executive Director at CITIC Envirotech Ltd. since April 24, 2015 and also serves as its CEO since June 01, 2018. He serves as a Director of Jiangsu Xinguanglian Technology Co., Ltd., Beijing Thomson CITIC Digital Technology Co., Ltd., CITIC Environment (International) Company Limited, CKM (Cayman) Company Limited and CENVIT (Cayman) Company Limited. He served as a Director of Beijing CITIC Xinyuan Technology Development Co., Ltd., Beijing Citi-Ben GS Product Co., LTD., CITIC Environment Investment Group Co., LTD., CITIC Investment Holdings Limited, CITIC Wily Equity Investment Fund Management Company and Xian CITIC Silk Road Hotel Company Ltd. Mr. Hao holds a Bachelor degree of Economics, with honors, from Jiangxi University of Finance and Economics and MBA degree from Chinese University of Hong Kong.

CEO Compensation
  • Insufficient data for Weibao to compare compensation growth.
  • Insufficient data for Weibao to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team Tenure

Average tenure and age of the CITIC Envirotech management team in years:

4.3
Average Tenure
51.5
Average Age
  • The tenure for the CITIC Envirotech management team is about average.
Management Team

Huchuan Tan

TITLE
Group Chief Operating Officer
AGE
55
TENURE
0.3 yrs

Ning Wang

TITLE
Senior Deputy Chief Executive Officer of Business Unit 1
AGE
56
TENURE
4.5 yrs

Li Li

TITLE
Senior Deputy Chief Executive Officer of Business Unit 2
AGE
53
TENURE
4.5 yrs

Weibao Hao

TITLE
Executive Chairman & Group CEO
AGE
50
TENURE
1.6 yrs

Lin Fong Ngoo

TITLE
Chief Financial Officer
AGE
45
TENURE
11.9 yrs

Jerry Liu

TITLE
Chief Technology Officer
TENURE
4.3 yrs

Shuhong Pan

TITLE
TENURE
0.3 yrs

Steven Qian

TITLE
Deputy Chief Executive Officer of Business Unit 4
TENURE
4.3 yrs

Hailin Ge

TITLE
Chief Executive Officer of Manufacturing

Song Wang

TITLE
Executive Director
AGE
37
Board of Directors Tenure

Average tenure and age of the CITIC Envirotech board of directors in years:

4.8
Average Tenure
50
Average Age
  • The tenure for the CITIC Envirotech board of directors is about average.
Board of Directors

Song Wang

TITLE
Executive Director
AGE
37
TENURE
4.8 yrs

David Yeung

TITLE
Lead Independent Director
AGE
69
TENURE
7.7 yrs

Weibao Hao

TITLE
Executive Chairman & Group CEO
AGE
50
TENURE
4.8 yrs

Beng Chuan Tay

TITLE
Independent Director
AGE
79
TENURE
11.3 yrs

Suan Hiang Lee

TITLE
Independent Director
AGE
69
TENURE
9 yrs

Weng Chiew Chong

TITLE
Executive Director
COMPENSATION
SGD855K
AGE
50
TENURE
0.7 yrs

Jingshuang Bi

TITLE
Non-Executive Director
AGE
46
TENURE
3.2 yrs

Lei Sun

TITLE
Non-Executive Director
TENURE
0.7 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 (SGD) Value (SGD)
21. Jan 20 Buy CITIC Group Corporation Company 17. Jan 20 17. Jan 20 399,308,830 SGD0.55 SGD219,619,346
15. May 19 Buy CITIC Group Corporation Company 30. Apr 19 30. Apr 19 66,601,000 SGD0.47 SGD31,235,784
X
Management checks
We assess CITIC Envirotech'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. CITIC Envirotech 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.

CEE News

Simply Wall St News

Is There Now An Opportunity In CITIC Envirotech Ltd. (SGX:CEE)?

Let’s take a look at CITIC Envirotech’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … This means that the opportunity to buy CITIC Envirotech at a good price has disappeared! … Given that CITIC Envirotech’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future.

Simply Wall St -

Here's What CITIC Envirotech Ltd.'s (SGX:CEE) P/E Is Telling Us

We'll look at CITIC Envirotech Ltd.'s (SGX:CEE) P/E ratio and reflect on what it tells us about the company's share price. … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for CITIC Envirotech: P/E of 18.4 = SGD0.30 ÷ SGD0.016 (Based on the trailing twelve months to June 2019.) Is A High Price-to-Earnings Ratio Good? … CITIC Envirotech shrunk earnings per share by 47% over the last year.

Simply Wall St -

Don’t Buy CITIC Envirotech Ltd. (SGX:CEE) Until You Understand Its ROCE

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for CITIC Envirotech: 0.048 = S$132m ÷ (S$3.9b - S$1.2b) (Based on the trailing twelve months to March 2019.) Therefore, CITIC Envirotech has an ROCE of 4.8%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. … What We Can Learn From CITIC Envirotech's ROCE While that is good to see, CITIC Envirotech has a low ROCE and does not look attractive in this analysis.

Simply Wall St -

Did Changing Sentiment Drive CITIC Envirotech's (SGX:CEE) Share Price Down A Worrying 52%?

During the five years over which the share price declined, CITIC Envirotech's earnings per share (EPS) dropped by 0.7% each year. … SGX:CEE Past and Future Earnings, June 13th 2019 It might be well worthwhile taking a look at our free report on CITIC Envirotech's earnings, revenue and cash flow. … As it happens, CITIC Envirotech's TSR for the last 5 years was -49%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Does CITIC Envirotech Ltd. (SGX:CEE) Have A Particularly Volatile Share Price?

View our latest analysis for CITIC Envirotech What CEE's beta value tells investors Given that it has a beta of 1.13, we can surmise that the CITIC Envirotech share price has been fairly sensitive to market volatility (over the last 5 years). … If this beta value holds true in the future, CITIC Envirotech shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down. … What this means for you: Since CITIC Envirotech 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 -

CITIC Envirotech Ltd. (SGX:CEE): Time For A Financial Health Check

(SGX:CEE) is a small-cap stock with a market capitalization of S$1.1b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is.

Simply Wall St -

CITIC Envirotech Ltd. (SGX:CEE): Does The -9.3% Earnings Drop Reflect A Longer Term Trend?

Commentary On CEE's Past Performance. … CEE's trailing twelve-month earnings (from 31 December 2018) of S$105m has? … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 31%, indicating the rate at which CEE is growing has slowed down

Simply Wall St -

Is CITIC Envirotech Ltd.’s (SGX:CEE) Return On Capital Employed Any Good?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Does CITIC Envirotech Ltd.'s (SGX:CEE) P/E Ratio Signal A Buying Opportunity?

We'll show how you can use CITIC Envirotech Ltd.'s (SGX:CEE) P/E ratio to inform your assessment of the investment opportunity. … CITIC Envirotech has a price to earnings ratio of 10.28, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is CITIC Envirotech Ltd.'s (SGX:CEE) ROE Of 8.2% Impressive?

We'll use ROE to examine CITIC Envirotech Ltd. … One way to conceptualize this, is that for each SGD1 of shareholders' equity it has, the company made SGD0.082 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

CEE Company Info

Description

CITIC Envirotech Ltd., together with its subsidiaries, provides membrane-based integrated environmental solutions in the People’s Republic of China, Singapore, the United States, Malaysia, Kazakhstan, and Indonesia. It operates through two segments, Engineering and Membrane System Sales, and Treatment. The company is involved in the design, fabrication, installation, and commissioning of membrane-based water and wastewater treatment systems; and ecological restoration, river restoration, integrated environmental, and sustainable green projects, as well as undertakes various turnkey projects in the capacity of engineering, procurement, and construction contractor or as a membrane system specialist. It also invests in wastewater treatment projects under transfer-operate-transfer and build-own-transfer arrangements; and operates and manages third party treatment facilities. In addition, the company manufactures and supplies polyvinylidene fluoride hollow fiber membrane, pressurized and submerged membrane products, and integrated membrane systems; and trades in pumps. Further, it provides business and management consultancy services; research and experimental development services on environment and clean technologies; and management of circular economy. The company was formerly known as United Envirotech Ltd. and changed its name to CITIC Envirotech Ltd. in July 2015. The company was founded in 1996 and is based in Singapore. CITIC Envirotech Ltd. is a subsidiary of CKM (Cayman) Company Limited.

Details
Name: CITIC Envirotech Ltd.
CEE
Exchange: SGX
Founded: 1996
SGD1,337,798,745
2,432,361,356
Website: http://www.citicenvirotech.com
Address: CITIC Envirotech Ltd.
No. 01-01, The Alpha,
10 Science Park Road,
Singapore,
117684,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX CEE Ordinary Shares Singapore Exchange SG SGD 22. Apr 2004
OTCPK UEDV.F Ordinary Shares Pink Sheets LLC US USD 22. Apr 2004
BST 4UE1 Ordinary Shares Boerse-Stuttgart DE EUR 22. Apr 2004
Number of employees
Current staff
Staff numbers
0
CITIC Envirotech employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/23 12:33
End of day share price update: 2020/01/10 00:00
Last estimates confirmation: 2019/11/22
Last earnings filing: 2019/10/24
Last earnings reported: 2019/09/30
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.