TOURISM HOLDINGS LIMITED (THL)
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THL - TOURISM HOLDINGS LIMITED

FNArena Sector : Travel, Leisure & Tourism
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 1.65
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.985

24 Jul
2024

-0.025

OPEN

$2.02

-1.24%

HIGH

$2.05

7,985

LOW

$1.99

TARGET
$1.94 -2.3% downside
Franking for last dividend paid out: 21%
OTHER COMPANIES IN THE SAME SECTOR
AIA . AIZ . CEH . CHL . CTD . EVT . EXP . FLT . HLO . KLS . QAN . SDR . SKO . SST . VGL . VVA . WEB .
FNARENA'S MARKET CONSENSUS FORECASTS
THL: 1
Title FY24
Forecast
FY25
Forecast
EPS (cps) 21.8 xxx
DPS (cps) 12.5 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 9.2 xxx
Dividend Yield 6.2% xxx
Div Pay Ratio(%) 57.2% 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 :

N/A

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: 21/03 - ex-div 4.22c (franking 21%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx24.1
DPS All xxxxxxxxxxxxxxx16.1
Sales/Revenue xxxxxxxxxxxxxxx607.4 M
Book Value Per Share xxxxxxxxxxxxxxx262.7
Net Operating Cash Flow xxxxxxxxxxxxxxx-56.2 M
Net Profit Margin xxxxxxxxxxxxxxx7.51 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx10.58 %
Return on Invested Capital xxxxxxxxxxxxxxx6.64 %
Return on Assets xxxxxxxxxxxxxxx5.14 %
Return on Equity xxxxxxxxxxxxxxx10.58 %
Return on Total Capital xxxxxxxxxxxxxxx30.25 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-62.6 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 xxxxxxxxxxxxxxx121 M
Long Term Debt xxxxxxxxxxxxxxx359 M
Total Debt xxxxxxxxxxxxxxx480 M
Goodwill - Gross xxxxxxxxxxxxxxx182 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx71 M
Price To Book Value xxxxxxxxxxxxxxx1.36

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx11.1 M
Capex % of Sales xxxxxxxxxxxxxxx1.83 %
Cost of Goods Sold xxxxxxxxxxxxxxx299 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx80 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx24 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

0.5

No. Of Recommendations

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

Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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

07/05/2024

1

Buy

-

-

Ord Minnett lowers its target for Tourism Holdings Rentals to NZ$3.13 from NZ$5.34 following management's new FY24 guidance for profit of between NZ$50-53m, down from NZ$75m previously.

Weakness in demand and pricing for used recreation vehicles (RVs) in the A&NZ markets was behind the downgrade, which are cyclical (not structural) factors, explains the broker.

Based on the broker's grasp of history, conditions will normalise. Management also stated no covenants are expected to be breached during FY24 and beyond. The Buy rating is retained.

FORECAST
Ord Minnett forecasts a full year FY24 dividend of 15.70 cents and EPS of 21.43 cents.
Ord Minnett forecasts a full year FY25 dividend of 18.47 cents and EPS of 25.12 cents.

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

15/05/2024

1

Overweight

$2.12

6.80%

Wilsons slashes its target for Tourism Holdings to $2.12 from $4.03 after management lowered FY24 profit guidance by -31% at the mid-point of the range, largely due to slower sales volumes and margins.

Part of the broker's reduced target relates to a change in valuation methodology.

All recreation vehicle (RV) segments (ex Canada) were negatively impacted, but Australia was responsible for more than 50% of reduced earnings expectations.

Management confirmed inbound tourism volumes remain positive, with the Tourism segment performing in line with expectations, and reaffirmed its NZ$100m FY26 NPAT target.

The Overweight rating is maintained.

FORECAST
Wilsons forecasts a full year FY24 dividend of 7.57 cents and EPS of 21.89 cents.
Wilsons forecasts a full year FY25 dividend of 12.47 cents and EPS of 27.06 cents.

THL STOCK CHART