TYRO PAYMENTS LIMITED (TYR)
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TYR - TYRO PAYMENTS LIMITED

FNArena Sector : Business & Consumer Credit
Year End: June
GICS Industry Group : Software & Services
Debt/EBITDA: 0.4
Index: ASX300 | ALL-ORDS | ALL-TECH

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.95

20 Nov
2024

0.005

OPEN

$0.94

0.53%

HIGH

$0.95

1,135,607

LOW

$0.93

TARGET
$1.522 60.2% upside
OTHER COMPANIES IN THE SAME SECTOR
BTN . CCP . CGR . COG . EML . EPY . FSA . HUM . JDO . LFS . MME . PLT . PPM . QAL . SIV . SMP . SQ2 . SVR . WZR . ZIP .
FNARENA'S MARKET CONSENSUS FORECASTS
TYR: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 4.9 3.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% - 39.9% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 32.2 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx4.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx471.5 M
Book Value Per Share xxxxxxxxxxxxxxx39.6
Net Operating Cash Flow xxxxxxxxxxxxxxx48.8 M
Net Profit Margin xxxxxxxxxxxxxxx5.45 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx13.34 %
Return on Invested Capital xxxxxxxxxxxxxxx11.65 %
Return on Assets xxxxxxxxxxxxxxx5.83 %
Return on Equity xxxxxxxxxxxxxxx13.34 %
Return on Total Capital xxxxxxxxxxxxxxx14.44 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx47.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx5 M
Long Term Debt xxxxxxxxxxxxxxx27 M
Total Debt xxxxxxxxxxxxxxx32 M
Goodwill - Gross xxxxxxxxxxxxxxx14 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx102 M
Price To Book Value xxxxxxxxxxxxxxx2.51

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx13.3 M
Capex % of Sales xxxxxxxxxxxxxxx2.81 %
Cost of Goods Sold xxxxxxxxxxxxxxx298 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx137 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx107 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Shaw and Partners

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

27/08/2024

1

Buy

$1.50

57.89%

Tyro Payments' exposure to discretionary spend across SMEs in Hospitality was a transaction value drag as UBS expected in 2H24 with churn still elevated, driven by difficult macro conditions.

That said, gross merchant adds accelerated as did underlying core Tyro merchant numbers which was a solid outcome, the broker suggests, and payments gross margin in the second half was a standout.

Medium term growth and margin targets for FY26/27 imply mid-teen earnings growth, the broker noting the two new growth verticals to be announced will contribute more materially from FY26 onwards.

The stock does not look expensive to UBS if medium term targets and double digit earnings growth are achieved. Target falls to $1.50 from $1.55, Buy retained.

FORECAST
UBS forecasts a full year FY25 EPS of 3.00 cents.
UBS forecasts a full year FY26 EPS of 5.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Wilsons

02/09/2024

1

Overweight

$1.18

24.21%

Wilsons downgrades Tyro Payments to Market Weight from Overweight following negative revisions to our forecasts post result and ongoing uncertainty in top-line growth with cost-out largely enacted.

New growth opportunities offer a reacceleration in growth in FY26 with Tyro expecting ongoing margin expansion, however the near-term headwinds from weakness in key discretionary verticals are present and persisting, the broker notes.

Abatement of these headwinds and a reacceleration in growth feels  some 12 months away at the earliest.

Target revised to $1.18.

FORECAST
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.40 cents.
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.50 cents.
Access Extra Coverage Research History >

TYR STOCK CHART

FNArena News on TYR

1
Australian Broker Call *Extra* Edition – Nov 19, 2024

Nov 19 2024 - Daily Market Reports
2
Rudi’s View: Dealing With Risk

Oct 30 2024 - Rudi's View
3
Are SmartPay & Tyro Private Equity Targets?

Oct 23 2024 - Small Caps
4
Australian Broker Call *Extra* Edition – Oct 21, 2024

Oct 21 2024 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Oct 17, 2024

Oct 17 2024 - Daily Market Reports

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8
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9
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Aug 11 2022 - Australia
10
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Jul 06 2022 - Australia