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China Industrial Waste Management Inc. (CIWT)

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Last Post: 6/8/2017 5:56:15 AM - Followers: 10 - Board type: Free - Posts Today: 0

 

A Brief Company Overview

China Industrial Waste Management collects and recycles various types of industrial wastes for more than 650 customers, primarily in Dalian and surrounding areas in Liaoning Province, China. These recycled waste products are then sold to customers as raw materials to produce chemical and metallurgical products. As a result, revenues are derived from both waste collection and disposal services as well as sales of valuable products and recycled commodities.

Currently, CIWT operates four facilities with a combined 35,300 tons of capacity in segments like solid waste, hazardous waste, sewage treatment, and organic solvent product. Through subsidies from China’s National Development and Reform Commission, the company embarked on an expansion project at the end of July 2008 that will increase its total capacity to 77,000 tons. The company hopes that this expansion will help drive revenues and profitability going forward.

Going forward, CIWT plans to increase revenues and earnings by placing emphasis on the commercialization of solid waste treatment, expanding into municipal sewage and sludge treatment BOT projects, managing their businesses locally with a strong focus on customer service, entering into new geographical markets, and maintaining their financial capacity and effective administrative systems and controls to support ongoing operations and future growth.

A Strong History of Growth

Over the past four years, China Industrial Waste Management has grown its revenues more than 300% from $4.87 million in 2005 to $13.4 million in 2008. Similarly, the company’s bottom line net income grew more than 300% from $1.49 million in 2005 to $4.75 million in 2008. Historically, the company’s revenues have grown at a rate of 40.14% over the past three years, while its gross margins has grown at a rate of 70.4% and its earnings per share at a rate of 45%.

CIWT also leads its industry, sector and the S&P 500 in financial ratios, profitability ratios and management effectiveness ratios. For example, the company’s return on assets stands at a healthy 8.5x compared to 4.1% for the industry, 0.9% for the sector and a 6.0% for the S&P 500. Similarly its return on equity stands at 13.0% compared to 11.6% for the industry and 10.2% for the sector, suggesting that the company is run far more effectively than the competition.

Despite this strong growth, CIWT continues to trade at around 11.5x its trailing 12-month earnings. Meanwhile, the company’s price-earnings-to-growth (or PEG) ratio stands at near 0.29x, which suggests a conservative fair valuation of around $3.69 based on a P/E of just 20x. (See: “PEG: The Pinnacle of Valuation”). Going forward, the company also said that it sees “strong signals of recovery” from the downturn in 2008, in its most recent 10-Q filing.

The Takeaway…

  • China Industrial Waste Management is a premier provider of industrial waste solutions in Northeastern China in the Liaoning Province and generates revenues through waste management service fees and by reselling recycled materials.
  • China Industrial Waste Management has seen its revenues grow at a rate of 40%, yet the stock continues to trade at just over 11x its trailing 12-month earnings.     

 

 

 

 

 

 

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#91   It seems that we are in an accumulation Cash1972 06/08/17 05:56:15 AM
#86   anyone know if this is legit or not? Hedge Starz 03/07/12 11:25:42 AM
#85   Good writeup. If they execute the expansion plans megator 08/12/11 12:31:29 PM
#84   A small writeup on the company, I didn't Bartvp 08/01/11 03:56:29 PM
#83   GEO has invested in this company too, at IndoInvest 07/14/11 02:27:06 PM
#82   I am definitely long this company. Bartvp 07/14/11 01:48:57 PM
#81   Changes in Registrant's Certifying Accountant IndoInvest 07/14/11 01:29:10 PM
#80   never heard of them, but if it is, IndoInvest 07/11/11 02:40:03 AM
#79   New, and bigger, accounting auditor. megator 07/08/11 07:45:03 PM
#78   Yes, there is. So every man and woman needs megator 06/17/11 12:05:26 PM
#77   back then there'snever this much fraud, i'll stick IndoInvest 06/16/11 07:58:43 PM
#76   Chinese RTO seem to be easy short targets megator 06/16/11 07:08:39 PM
#75   based on the comments of the people on IndoInvest 06/16/11 01:36:23 PM
#74   Dodgy?? really? white_tiger 06/16/11 01:02:22 PM
#73   The company lacks sponsorship for it's stocks thus megator 06/15/11 09:16:19 PM
#72   very weird indeed. the only coverage i seen IndoInvest 06/14/11 09:05:07 PM
#71   No trade today. This company is either world's best megator 06/14/11 08:31:49 PM
#70   it's time to buy IndoInvest 06/10/11 12:20:35 AM
#69   hmm, WLSA looks more like a telecomm company? IndoInvest 06/08/11 04:43:10 PM
#68   not enough really. I think Waste-to-Energy is huge, Hedge Starz 06/08/11 04:40:25 PM
#67   care to share what u know abt this IndoInvest 06/08/11 04:39:18 PM
#66   this one needs IR. I am willing to Hedge Starz 06/08/11 03:02:45 PM
#65   thanks. i think trading makes more sense for IndoInvest 06/08/11 12:48:12 PM
#64   No dd...just not holding now...Im a trader more bUrRpPPP! 06/08/11 12:47:28 PM
#63   care to share me ur DD?? just wanna IndoInvest 06/08/11 12:46:08 PM
#62   Long gone....g/l bUrRpPPP! 06/08/11 12:42:38 PM
#61   hey burp, u still in CIWT? IndoInvest 06/08/11 12:41:44 PM
#60   nice article about chinese RTO's IndoInvest 06/03/11 03:48:51 PM
#59   you just answered the question then IndoInvest 06/03/11 02:21:17 AM
#58   See the 8k released on May 25, 2011 megator 06/02/11 08:32:06 PM
#57   when did they sell it? as long as IndoInvest 06/02/11 08:21:52 PM
#56   It is encouraging the management is savy enough megator 06/02/11 06:15:18 PM
#55   i know, patience, patience. by mid of this IndoInvest 06/02/11 02:11:42 AM
#54   Indolinestor, this is a good company but investing megator 06/01/11 09:05:14 PM
#53   high volume today, yummmmmmmmm IndoInvest 05/24/11 04:10:19 PM
#52   China Industrial Waste Management Announces 2011 First Quarter IndoInvest 05/16/11 11:19:34 AM
#51   China Industrial Waste Management Announces Commercial Operations at IndoInvest 05/12/11 09:06:12 PM
#50   http://www.digitaljournal.com/pr/306291 IndoInvest 05/12/11 09:05:36 PM
#49   http://www.prnewswire.com/news-releases/china-industrial-waste-management-announ IndoInvest 04/26/11 02:29:32 PM
#48   DALIAN, China, April 13, 2011 /PRNewswire-Asia/ -- China IndoInvest 04/14/11 01:07:05 PM
#47   http://finance.yahoo.com/news/China-Industrial-Waste-prnews-3986363434.html?x=0& IndoInvest 04/12/11 12:23:05 PM
#46   http://finance.yahoo.com/news/China-Industrial-Waste-prnews-3775039386.html?x=0& IndoInvest 04/01/11 08:29:17 PM
#45   China Industrial Waste Management Announces Unaudited Preliminary eom7 03/02/11 10:36:09 AM
#44   This should help. Still learning myself. More a mercurialmike 01/30/11 09:18:41 PM
#43   when is earnings release for this?? IndoInvest 01/28/11 04:40:03 PM
#42   http://www.americanbankingnews.com/2010/12/29/global-hunter-securities-initiates mercurialmike 12/29/10 08:30:44 PM
#41   Conference call Monday! I can't wait to see Sharkie 11/09/10 12:16:37 AM
#40   Nothing new that I have heard about lately. Sharkie 10/03/10 01:36:26 AM
#39   any update on this company? IndoInvest 10/01/10 01:03:33 PM
#38   I like that idea. I am also holding Sharkie 08/27/10 11:49:48 PM
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