CORPORATE TRAVEL MANAGEMENT LIMITED (CTD)
Share Price Analysis and Chart

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CTD - CORPORATE TRAVEL MANAGEMENT LIMITED

FNArena Sector : Travel, Leisure & Tourism

Year End: June

GICS Industry Group : Consumer Services

Debt/EBITDA: 0.2

Index: ASX200 | ASX300 | ALL-ORDS

Corporate Travel is an Australian provider of travel solutions to the corporate market. Founded in 1994, the company listed on the ASX in 2010.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$12.37 18 Apr 2025	0.000 OPEN $12.37	0.000 HIGH $12.37	0 LOW $12.37

TARGET

$17.204

39.1% upside

OTHER COMPANIES IN THE SAME SECTOR
AIA . AIZ . CEH . CHL . EVT . EXP . FLT . HLO . KLS . QAN . SDR . SKO . SST . THL . VGL . VRL . VVA . WEB . WJL .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	57.9	74.2	xxx
DPS (cps)	xxx	29.0	30.1	xxx
EPS Growth	xxx	9.0%	28.2%	xxx
DPS Growth	xxx	3.6%	3.6%	xxx
PE Ratio	xxx	N/A	16.7	xxx
Dividend Yield	xxx	N/A	2.4%	xxx
Div Pay Ratio(%)	xxx	50.1%	40.5%	xxx

Dividend yield today if purchased 3 years ago: 1.14%

DIVIDEND YIELD CALCULATOR

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: 29/08 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	57.9
DPS All	xxx	xxx	xxx	xxx	xxx	29.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	707.7 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	812.2
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	126.8 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	11.93 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	7.19 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	7.02 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	4.91 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	7.19 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	11.00 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	64.6 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	10 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	29 M
Total Debt	xxx	xxx	xxx	xxx	xxx	39 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	923 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	135 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	1.63

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Negative
Growth
Slowing

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	47.6 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	6.72 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	552 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	21 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	7 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

0.6

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Morgan Stanley	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Shaw and Partners	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Ord Minnett	xx/xx/xxxx	3	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Macquarie	20/02/2025	3	Neutral	$17.48	41.31%	Corporate Travel Management delivered a better-than-expected 1H25 underlying EBITDA, exceeding guidance by 5%, Macquarie’s estimate by 6%, and consensus by 4%, with weakness in Europe offset by strength in A&NZ. A&NZ saw margin expansion, with Australia up 675bps and NZ up 545bps. Despite the strong 1H result, management lowered FY25 EBITDA guidance, with the rest of the world unchanged but Europe downgraded to $55m from $68m. Macquarie believes European earnings have bottomed and should improve. The broker lifts EPS forecasts by 0.5% for FY25 and 1% for FY26. Target price rises 31% to $17.48 on a valuation roll-forward. Neutral rating unchanged. FORECAST Macquarie forecasts a full year FY25 dividend of 33.80 cents and EPS of 74.90 cents. Macquarie forecasts a full year FY26 dividend of 46.20 cents and EPS of 92.10 cents.
Citi	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
UBS	xx/xx/xxxx	3	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgans	xx/xx/xxxx	1	xxxxxxx xx xxx xxxx xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Jarden	24/02/2025	2	Overweight	$17.00	37.43%	Jarden believes there's a lot to like in Corporate Travel Management's 1H25 result despite slightly softer FY25 guidance implying a -2% consensus EBITDA downgrade. The broker is focusing more on the travel group's contract wins, incremental margins of over 50% and that it remains on track to double EPS by FY29. If that's achieved, market EPS forecasts would rise over 35%, the broker estimates. The broker cut underlying FY25 EPS forecast by -0.5% but lifted FY26 by 12.4%. Target price rises to $17 from $14, and Overweight maintained. FORECAST Jarden forecasts a full year FY25 EPS of 76.00 cents. Jarden forecasts a full year FY26 EPS of 102.20 cents.
Wilsons	xx/xx/xxxx	3	xxxxxx xxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Canaccord Genuity

xx/xx/xxxx

xxx

$xx.xx

xx.xx%

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

Jarden

24/02/2025

Overweight

$17.00

37.43%

Jarden believes there's a lot to like in Corporate Travel Management's 1H25 result despite slightly softer FY25 guidance implying a -2% consensus EBITDA downgrade.

The broker is focusing more on the travel group's contract wins, incremental margins of over 50% and that it remains on track to double EPS by FY29. If that's achieved, market EPS forecasts would rise over 35%, the broker estimates.

The broker cut underlying FY25 EPS forecast by -0.5% but lifted FY26 by 12.4%. Target price rises to $17 from $14, and Overweight maintained.

FORECAST
Jarden forecasts a full year FY25 EPS of 76.00 cents.
Jarden forecasts a full year FY26 EPS of 102.20 cents.

Wilsons

xx/xx/xxxx

xxxxxx xxxxxx

$xx.xx

xx.xx%

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

Access Extra Coverage Research History >

CTD STOCK CHART

FNArena News on CTD

1	Rudi’s View: Best Buys In Copper, Small Caps, Tech, Healthcare, And More Mar 20 2025 - Rudi's View

2	Rudi’s View: Post February Conviction Calls Mar 13 2025 - Rudi's View

3	Corporate Travel Eyes Strong Growth Rebound Mar 07 2025 - Small Caps

4	Australian Broker Call Extra Edition – Feb 25, 2025 Feb 25 2025 - Daily Market Reports

5	Australian Broker Call Extra Edition – Feb 24, 2025 Feb 24 2025 - Daily Market Reports

Latest Travel, Leisure & Tourism News

1	Corporate Travel Eyes Strong Growth Rebound Mar 07 2025 - Small Caps

2	Is SiteMinder’s Re-Rating Just A Matter of Time? Mar 06 2025 - Small Caps

3	Diverging Margins In Webjets’ Results Dec 02 2024 - Australia

4	What Happened To WEB Travel’s Growth Outlook? Oct 17 2024 - Small Caps

5	Upside For The New Webjet(s) Sep 26 2024 - Australia

6	SiteMinder To Thrive On New Product Launches Aug 06 2024 - Small Caps

7	In Brief: It’s Not The Economy, Stupid! Jul 05 2024 - Weekly Reports

8	SiteMinder Travelling Well May 01 2024 - Small Caps

9	Webjet’s B2B Opportunity Apr 15 2024 - Australia

10	Stars Are Aligning For SiteMinder Aug 02 2023 - Small Caps

Dividend Yield Today On Last Actual Payout :	2.34
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
Tell Me The Dividend After This Many Years

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CORPORATE TRAVEL MANAGEMENT LIMITED (CTD)
Share Price Analysis and Chart