Capitalcube gives Tat Hong Holdings Ltd. a score of 31.
Our analysis is based on comparing Tat Hong Holdings Ltd. with the following peers – Tiong Woon Corporation Holding Ltd, Hiap Tong Corporation Ltd., First Ship Lease Trust Shipping Business Trust Units and Lian Beng Group Ltd (BQM-SG, 5PO-SG, D8DU-SG and L03-SG).
Tat Hong Holdings Ltd. has a fundamental score of 31 and has a relative valuation of NEUTRAL.
Access our research and ratings on Tat Hong Holdings Ltd.
- Taking peer performance into consideration, relative performance over the last month and last year is around the peer median.
- It currently trades at a Price/Book ratio of (0.56).
- T03-SG‘s EBITDA-based price implies better than peer median growth.The market seems to expect a turnaround in the company’s current EBITDA-based return on equity.
- T03-SG‘s median net profit margins and relatively high asset efficiency give it some operating leverage.
- Compared with its chosen peers, changes in the company’s annual earnings are better than the changes in its revenue, implying better than median cost control and/or some economies of scale.
- T03-SG‘s return on assets has improved from below median to about median among its peers over the last five years.
- The company’s margins are around the peer medians and do not suggest any benefit from a pricing or an operating cost advantage versus peers.
- While T03-SG‘s revenues growth has been around the peer median in recent years, the market seems to see faster growth ahead and gives its shares a higher than peer median Price/EBITDA ratio.
- The company’s relatively low level of capital investment and below peer median returns on capital suggest that the company is in maintenance mode.
- T03-SG seems too levered to raise additional debt.
Access our research and ratings on Tat Hong Holdings Ltd.
Leverage & Liquidity
T03-SG would seem to have a hard time raising additional debt.
- With debt at a relatively high 61.06% of its enterprise value compared to an overall benchmark of 25% (Note: The peer median is currently 70.04%), and relatively tight interest coverage level of -1.23x, T03-SG would have a hard time raising much additional debt. The company has a Constrained profile in terms of its ability to take on further debt.
- All 4 peers for the company have an outstanding debt balance.
T03-SG has maintained its Limited Flexibility profile from the recent year-end.
- T03-SG‘s interest coverage is similar to last year’s low of -1.30x, which compares to the 2013 high of 4.24x.
- Though its interest coverage has remained relatively stable at -1.23x compared to 2017, its peer median has decreased to 1.74x from 2.47x during this period.
- Interest coverage rose 0.79 points relative to peers.
- T03-SG‘s debt-EV has declined 4.47 percentage points from last year’s high but remains above its five-year average debt-EV of 56.50.
- The decrease in its debt-EV to 61.06% from 65.53% (in 2017) was also accompanied by a decrease in its peer median during this period to 70.04% from 74.97%.
Access the detailed analysis for Tat Hong Holdings Ltd.
Key Liquidity Items
|Company||Debt/Enterprise Value (%)||Current Ratio||Interest Coverage (x)||Cash Flow To Total Debt (%)|
|Tiong Woon Corporation Holding Ltd||70.04||0.82||7.12||20.29|
|Hiap Tong Corporation Ltd.||56.13||0.79||0.26||27.97|
|First Ship Lease Trust Shipping Business Trust Units||88.51||0.15||1.74||28.83|
|Lian Beng Group Ltd||73.33||1.19||4.03||13.93|
|Tat Hong Holdings Ltd||61.06||1.12||-1.23||8.42|
|Best In Class||56.13||1.19||7.12||28.83|
Looking for more metrics and analysis for Tat Hong Holdings Ltd.?
Tat Hong Holdings Ltd. is an investment company, which engages in rental and sale of cranes, and heavy equipment. It operates through the following business segments: Crane Rental, Tower Crane Rental, General Equipment Rental and Distribution. The Crane Rental segment includes rental income of cranes. Tower Crane Rental segment includes rental income of tower cranes. The General Equipment Rental segment consists of rental income from other construction equipment. The Distribution segment covers the sales of cranes and other construction equipment, spare parts and provision of other ancillary services. The company was founded on October 25, 1991 and is headquartered in Singapore.
The information presented in this report has been obtained from sources deemed to be reliable, but AnalytixInsight does not make any representation about the accuracy, completeness, or timeliness of this information. This report was produced by AnalytixInsight for informational purposes only and nothing contained herein should be construed as an offer to buy or sell or as a solicitation of an offer to buy or sell any security or derivative instrument. This report is current only as of the date that it was published and the opinions, estimates, ratings and other information may change without notice or publication. Past performance is no guarantee of future results. Prior to making an investment or other financial decision, please consult with your financial, legal and tax advisors. AnalytixInsight shall not be liable for any party’s use of this report. AnalytixInsight is not a broker-dealer and does not buy, sell, maintain a position, or make a market in any security referred to herein. One of the principal tenets for us at AnalytixInsight is that the best person to handle your finances is you. By your use of our services or by reading any our reports, you’re agreeing that you bear responsibility for your own investment research and investment decisions. You also agree that AnalytixInsight, its directors, its employees, and its agents will not be liable for any investment decision made or action taken by you and others based on news, information, opinion, or any other material generated by us and/or published through our services. For a complete copy of our disclaimer, please visit our website www.analytixinsight.com.