TOURISM HOLDINGS LIMITED (THL)
Share Price Analysis and Chart

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THL

THL - TOURISM HOLDINGS LIMITED

FNArena Sector : Travel, Leisure & Tourism
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 1.47
Index:

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.27

23 May
2025

-0.030

OPEN

$1.31

-2.31%

HIGH

$1.31

2,393

LOW

$1.27

TARGET
$1.73 36.2% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AIA . AIZ . CEH . CHL . CTD . EVT . EXP . FLT . HLO . KLS . QAN . SDR . SKO . SST . VGL . VRL . VVA . WEB . WJL .
FNARENA'S MARKET CONSENSUS FORECASTS
THL: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 18.1 xxx
DPS (cps) 6.9 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 7.0 xxx
Dividend Yield 5.5% xxx
Div Pay Ratio(%) 38.3% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.89

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: 19/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx16.8
DPS All xxxxxxxxxxxxxxx10.3
Sales/Revenue xxxxxxxxxxxxxxx852.7 M
Book Value Per Share xxxxxxxxxxxxxxx257.9
Net Operating Cash Flow xxxxxxxxxxxxxxx-88.5 M
Net Profit Margin xxxxxxxxxxxxxxx4.27 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx6.47 %
Return on Invested Capital xxxxxxxxxxxxxxx3.73 %
Return on Assets xxxxxxxxxxxxxxx2.80 %
Return on Equity xxxxxxxxxxxxxxx6.47 %
Return on Total Capital xxxxxxxxxxxxxxx28.68 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-130.5 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 xxxxxxxxxxxxxxx126 M
Long Term Debt xxxxxxxxxxxxxxx468 M
Total Debt xxxxxxxxxxxxxxx593 M
Goodwill - Gross xxxxxxxxxxxxxxx185 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx52 M
Price To Book Value xxxxxxxxxxxxxxx0.63

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx14.9 M
Capex % of Sales xxxxxxxxxxxxxxx1.75 %
Cost of Goods Sold xxxxxxxxxxxxxxx435 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx103 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1 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

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

-

xx.xx%

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

26/02/2025

3

Hold

$1.73

36.22%

Morgans' notes Tourism Holdings Rentals' 1H25 underlying net profit was down -33% y/y, weighed down by a -4% decline in vehicle sales.

Ex-fleet sales margins dropped to 24.4% from 26.1% and retail recreational vehicle (RV) sales margin fell to 9.1% from 10.8%.

The result was, however, stronger than the broker's forecast, though it now acknowledges there's a risk to the company's target of achieving net profit growth in FY25. 

The key risk is a more prolonged downturn in RV sales, and margin and volume pressure in the Australian market. The broker is closely monitoring US/Canada tariff situation for any potential impact on North American outlook.

Target price drops to $1.73 from $2.02 as the broker cut FY25 and FY26 net profit forecasts by -20.7% and -21.8% respectively. Rating stays at Hold.

FORECAST
Morgans forecasts a full year FY25 dividend of 7.29 cents and EPS of 19.15 cents.
Morgans forecasts a full year FY26 dividend of 10.03 cents and EPS of 25.53 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

-

xx.xx%

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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

Jarden

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

-

xx.xx%

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Wilsons

27/04/2025

3

Market Weight

$1.25

-1.57%

A weakening in the operating environment due to global uncertainty and lower consumer confidence has hurt Tourism Holdings Rentals' business. This has prompted the company to guide to FY25 net profit significantly lower than the consensus of NZ$45.2m.

Wilsons' already had a cautious view on near-term prospects and net profit forecast of NZ$44.1m, but downgraded it further by -25% on cut to North American rental estimates and sales, and margins all over.

The broker highlights the company can manage gearing by cutting capex in FY26, and has headroom to borrow if required.

Market Weight. Target unchanged at $1.25.

FORECAST
Wilsons forecasts a full year FY25 dividend of 4.01 cents and EPS of 13.68 cents.
Wilsons forecasts a full year FY26 dividend of 8.66 cents and EPS of 16.32 cents.
Access Extra Coverage Research History >

THL STOCK CHART

FNArena News on THL

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 02-05-25

May 02 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Apr 30, 2025

Apr 30 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Apr 27, 2025

Apr 28 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Mar 05, 2025

Mar 05 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Mar 03, 2025

Mar 03 2025 - Daily Market Reports

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