TABCORP HOLDINGS LIMITED (TAH)
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TAH - TABCORP HOLDINGS LIMITED

FNArena Sector : Gaming
Year End: June
GICS Industry Group : Consumer Services
Debt/EBITDA: 6.65
Index: ASX200 | ASX300 | ALL-ORDS

Tabcorp is the largest provider of lotteries, Keno, and gambling products in Australia. Tabcorp has been listed since 1994.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.52

18 Nov
2024

0.020

OPEN

$0.50

4.00%

HIGH

$0.52

4,294,048

LOW

$0.50

TARGET
$0.55 5.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AGI . ALL . BET . JIN . LNW . PBH . PLY . SGR . SKC . TLC . TLC .
FNARENA'S MARKET CONSENSUS FORECASTS
TAH: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 59.6 1.4 xxx
DPS (cps) xxx 1.3 0.8 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 43.5% - 38.5% xxx
PE Ratio xxx N/A 38.6 xxx
Dividend Yield xxx N/A 1.5% xxx
Div Pay Ratio(%) xxx N/A 57.1% xxx

Dividend yield today if purchased 3 years ago: 0.25%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.41

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: 27/02 - ex-div 1c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-59.6
DPS All xxxxxxxxxxxxxxx1.3
Sales/Revenue xxxxxxxxxxxxxxx1,980.8 M
Book Value Per Share xxxxxxxxxxxxxxx54.7
Net Operating Cash Flow xxxxxxxxxxxxxxx245.2 M
Net Profit Margin xxxxxxxxxxxxxxx-68.64 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-69.62 %
Return on Invested Capital xxxxxxxxxxxxxxx-48.96 %
Return on Assets xxxxxxxxxxxxxxx-36.56 %
Return on Equity xxxxxxxxxxxxxxx-69.62 %
Return on Total Capital xxxxxxxxxxxxxxx-1.72 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx41.0 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx31 M
Long Term Debt xxxxxxxxxxxxxxx1,113 M
Total Debt xxxxxxxxxxxxxxx1,144 M
Goodwill - Gross xxxxxxxxxxxxxxx3,576 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx314 M
Price To Book Value xxxxxxxxxxxxxxx1.28

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx160.4 M
Capex % of Sales xxxxxxxxxxxxxxx8.10 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,777 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx252 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx31 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

0.2

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Ord Minnett

30/08/2024

3

Downgrade to Hold from Accumulate

$0.57

9.62%

Ord Minnett lowers its target for Tabcorp Holdings to 57c from 78c and downgrades to Hold from Accumulate after management at FY24 results warned soft June quarter trading conditions would persist into early-FY25. 

The FY24 profit and dividend materially missed consensus forecasts, and the broker lowers its EPS forecasts across FY25-27 by -41%, -38%, and -33%, respectively.

Management also announced an additional -$645m write down of wagering assets, taking total impairment charges for the year to $1.4bn.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Jarden

25/10/2024

2

Overweight

$0.65

25.00%

Jarden observes Tabcorp has gone through a year of significant change, with a new Chair, CEO, and CFO, setting the stage for a strategic overhaul.

At the 2024 AGM, CEO Gillon McLachlan outlined pending strategic developments aimed at unlocking value across the company's diverse asset portfolio. Jarden notes the focus is on enhancing the wagering and Sky Racing media business.

The company expects senior leadership updates in the coming weeks and a broader strategy shift in early 2025. No immediate trading update was provided.

Jarden retains its 12-month price target of $0.65, with an Overweight rating due to potential value unlocking in the medium term. No material changes were made to financial forecasts.

FORECAST
Jarden forecasts a full year FY25 dividend of 1.20 cents and EPS of 2.00 cents.
Jarden forecasts a full year FY26 dividend of 2.10 cents and EPS of 3.50 cents.
Access Extra Coverage Research History >

TAH STOCK CHART

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