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: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.60

24 Mar
2025

0.040

OPEN

$1.60

2.56%

HIGH

$1.60

14,042

LOW

$1.56

TARGET
$1.73 8.1% 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) 19.6 xxx
DPS (cps) 7.6 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 8.2 xxx
Dividend Yield 4.7% xxx
Div Pay Ratio(%) 38.5% 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 :

 5.55

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

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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

26/02/2025

3

Neutral

-

-

UBS highlights Tourism Holdings' 1H25 earnings miss and a weaker North American market, delaying recovery expectations by 12 months.

The broker notes 1H25 EBIT fell -NZ$16m year-on-year as higher rental revenues were offset by lower sales margins and increased opex.

The broker points A&NZ rental revenue rose 4%, ex-fleet resale margins fell 14% to  around NZ$21k per unit, and non-fleet retail margins declined 15% to NZ$9.2k per unit.

Weakness in North America sales and rentals (-20%) and higher admin costs (15%) drove downgrades.

UBS cuts FY25/FY26 EBIT forecasts by -7%/-6%, reflecting slower fleet growth and higher opex. Retail margin recovery is expected to be gradual, with rental yields stabilising in FY26.

The price target is lowered to NZ$1.80 from NZ$1.90. Neutral rating retained.

FORECAST
UBS forecasts a full year FY25 dividend of 8.19 cents and EPS of 20.94 cents.
UBS forecasts a full year FY26 dividend of 10.02 cents and EPS of 25.49 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

-

xx.xx%

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

1

xxx

-

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Wilsons

03/03/2025

3

Market Weight

$1.53

-4.38%

Following weakness in recreation vehicle (RV) sales in North America and Australia/NZ in Tourism Holdings Rentals' 1H25 result, Wilsons' has turned cautious on near-term prospects for the company.

The broker notes the company's goal to deliver underlying profit growth in FY25, but believes this looks challenging as rental income growth is not enough to offset the weakness in RV sales.

The broker downgraded net profit forecast for FY25 by -15% as rebalancing across rentals and sales led to a -1% decline in its revenue estimate.

Revenue forecast rises by 5% by FY27 on cautious optimism on fleet growth in the medium term. Target price cut to $1.53 from $1.90. Market Weight rating remains.

FORECAST
Wilsons forecasts a full year FY25 dividend of 7.01 cents and EPS of 18.30 cents.
Wilsons forecasts a full year FY26 dividend of 11.02 cents and EPS of 21.67 cents.
Access Extra Coverage Research History >

THL STOCK CHART

FNArena News on THL

1
Australian Broker Call *Extra* Edition – Mar 05, 2025

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2
Australian Broker Call *Extra* Edition – Mar 03, 2025

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