City Developments Intrinsic Value Calculator – CITY DEVELOPMENTS Reports Second Quarter Fiscal Year 2023 Earnings Results on August 10, 2023
August 12, 2023
🌥️Earnings Overview
On August 10, 2023, CITY DEVELOPMENTS ($SGX:C09) announced its earning results for the second quarter of the 2023 Fiscal Year (ending June 30, 2023). Total revenue for the quarter increased by 83.7% year-over-year to SGD 2.7 billion whereas net income was only SGD 0.07 billion, a 93.8% decrease from the same period in the prior year.
Stock Price
With the stock opening at SG$7.1 and closing at SG$7.0, the market responded negatively to the news resulting in a 1.8% dip from its last closing price of SG$7.1. This follows a steady trend of performance for CITY DEVELOPMENTS stocks which have been trading at or near their highest levels in the past 12 months. Despite the minor dip, the company’s stock is still performing well and the report highlights positive financial developments across the board. CITY DEVELOPMENTS reported strong financial results for the second quarter of FY2023.
The strong financial results for the quarter demonstrate CITY DEVELOPMENTS’ success in meeting their financial goals and objectives for the year. Moving forward, the company remains confident that their current strategies and initiatives will continue to drive growth and profitability going into the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for City Developments. More…
| Total Revenues | Net Income | Net Margin |
| 4.52k | 219.43 | 1.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for City Developments. More…
| Operations | Investing | Financing |
| 399.73 | -629.4 | 166.61 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for City Developments. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 22.79k | 13.33k | 10 |
Key Ratios Snapshot
Some of the financial key ratios for City Developments are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.9% | 23.4% | 17.7% |
| FCF Margin | ROE | ROA |
| 1.8% | 5.5% | 2.2% |
Analysis – City Developments Intrinsic Value Calculator
GoodWhale has conducted an in-depth analysis of CITY DEVELOPMENTS’ financials. Our proprietary Valuation Line has calculated that the intrinsic value of CITY DEVELOPMENTS’ share is around SG$11.6. This means that the stock of CITY DEVELOPMENTS is currently being traded at SG$7.0, a discount of 39.7%. This makes it a great opportunity for investors who are looking for a potential return on their investment. More…
Peers
The company is engaged in the development, ownership, and management of properties in Singapore and around the world. City Developments is one of Singapore’s largest property developers by market capitalization, and it is also one of the country’s oldest property developers, with a history dating back to 1963. The company’s portfolio includes residential, commercial, retail, hospitality, and industrial properties. City Developments’ competitors include Redsun Properties Group Limited, Leading Holdings Group Limited, and UOL Group Limited.
– Redsun Properties Group Ltd ($SEHK:01996)
Redsun Properties Group Ltd is a leading property development company in Hong Kong with a market cap of 1.37B as of 2022. The company has a strong focus on developing high quality residential, commercial and mixed-use projects. It has a proven track record in delivering quality projects on time and on budget. The company’s return on equity (ROE) is 11.22%.
– Leading Holdings Group Ltd ($SEHK:06999)
Leading Holdings Group Ltd is a Chinese conglomerate with a market cap of 248.52M as of 2022. The company has a Return on Equity of 10.6%. Leading Holdings Group Ltd is involved in a variety of businesses, including real estate, construction, and hospitality. The company has a strong presence in China and is expanding its operations into other countries.
– UOL Group Ltd ($SGX:U14)
UOL Group Ltd is a real estate investment holding company based in Singapore. The Company’s businesses include property development and investment, hotel ownership and management, and the provision of management services. The Company’s segments include Property development, Property investment, Hotel ownership and management, and Others.
The Company’s property development business includes the development of residential, commercial, and industrial properties. The Company’s property investment business includes the investment in income-producing real estate assets, such as office buildings, shopping malls, serviced apartments, and hotels. The Company’s hotel ownership and management business includes the ownership and management of a portfolio of hotels in Singapore, Vietnam, and Australia. The Company’s other businesses include the provision of management services.
Summary
CITY DEVELOPMENTS reported second quarter of FY2023 earnings on August 10 2023. Revenue increased significantly by 83.7% year-over-year, but net income decreased by almost 94%. Investors should look into the reasons behind the large decline in net income and whether it is a one-off event or part of a trend. They should also compare CITY DEVELOPMENTS performance to those of its competitors and analyze its financial position in order to decide whether to invest in the company.
