TREASURY WINE ESTATES LIMITED (TWE)
Share Price Analysis and Chart

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TWE - TREASURY WINE ESTATES LIMITED

FNArena Sector : Food, Beverages & Tobacco
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 2.66
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Treasury Wine Estates is Australia's largest wine producer and distributor and one of the world's largest. Formerly operating as the wine division of international brewing company Foster's Group until May 2011, it was de-merged into a separate company. Owns iconic brands incl Penfolds, globally known for its luxurious Grange production.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$12.14

19 Jul
2024

-0.250

OPEN

$12.30

-2.02%

HIGH

$12.31

2,532,126

LOW

$12.08

TARGET
$13.78 13.5% upside
Franking for last dividend paid out: 70%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . BFC . CKF . COL . DMP . E33 . EDV . GDA . ING . LRK . MBH . MCL . MMM . MTS . RFG . SGLLV . TSI . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
TWE: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx 34.9 53.2 xxx
DPS (cps) xxx 34.6 35.4 xxx
EPS Growth xxx - 3.3% 52.3% xxx
DPS Growth xxx 12.9% 2.2% xxx
PE Ratio xxx N/A 22.8 xxx
Dividend Yield xxx N/A 2.9% xxx
Div Pay Ratio(%) xxx 99.3% 66.6% xxx

Dividend yield today if purchased 3 years ago: 2.92%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

2.85

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

Last ex-div: 06/03 - ex-div 17c (franking 70%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx34.9
DPS All xxxxxxxxxxxxxxx34.6
Sales/Revenue xxxxxxxxxxxxxxx2,488.3 M
Book Value Per Share xxxxxxxxxxxxxxx529.5
Net Operating Cash Flow xxxxxxxxxxxxxxx272.0 M
Net Profit Margin xxxxxxxxxxxxxxx10.23 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx6.66 %
Return on Invested Capital xxxxxxxxxxxxxxx4.69 %
Return on Assets xxxxxxxxxxxxxxx3.70 %
Return on Equity xxxxxxxxxxxxxxx6.66 %
Return on Total Capital xxxxxxxxxxxxxxx10.26 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-217.0 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx251 M
Long Term Debt xxxxxxxxxxxxxxx1,687 M
Total Debt xxxxxxxxxxxxxxx1,938 M
Goodwill - Gross xxxxxxxxxxxxxxx990 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx566 M
Price To Book Value xxxxxxxxxxxxxxx2.10

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx249.0 M
Capex % of Sales xxxxxxxxxxxxxxx10.01 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,414 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx493 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.7

No. Of Recommendations

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

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

21/06/2024

1

Buy

$14.50

19.44%

Following the end of Chinese tariffs, Treasury Wine Estates has announced its plans for Penfolds (and its earnings outlook), which included ways to achieve a leading position in luxury wine in China.

Management also reiterated its existing FY24 guidance of mid-high single digit EBITS growth (ex DAOU), with an earnings (EBITS) contribution in the 2H of US$23-25m from DAOU.

The analyst retains a Buy rating as the company repositions to luxury, and because of ongoing Penfolds sales growth, with China providing a growth accelerant. The target slips to $14.50 from $15.00.

FORECAST
UBS forecasts a full year FY24 dividend of 35.00 cents and EPS of 53.00 cents.
UBS forecasts a full year FY25 dividend of 41.00 cents and EPS of 62.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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EXPERT VIEWS
Display All Commentary

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

13/06/2024

2

Overweight

$14.50

19.44%

Jarden attended the Treasury Wine Estates US tour where management reconfirmed guidance and highlighted the US luxury strategy is doing better than expected in a tough market, notes the broker.

The analyst retains earnings forecasts and points guidance of mid to high single-digit earnings before tax and interest (EBIT) of 7%, excluding Daou.

Treasury Wine Estates plans to reassess its future operating premium model, with an update expected in August.

$14.50 target and Overweight rating retained.

FORECAST
Jarden forecasts a full year FY24 EPS of 54.00 cents.
Jarden forecasts a full year FY25 EPS of 66.30 cents.

TWE STOCK CHART