Lacklustre Performance Is Driving Tabcorp Holdings Limited's (ASX:TAH) Low P/S
Jun 14
Australian (ASX) Hospitality Industry Analysis
UpdatedJun 15, 2024
DataAggregated Company Financials
Companies28
- 7D-0.5%
- 3M-0.1%
- 1Y1.7%
- YTD1.4%
Last week, the Hospitality industry hasn't moved much but Tabcorp Holdings is up 8.3% in that time. In line with that, the industry has also been flat over the past 12 months. Looking forward, earnings are forecast to grow by 15% annually.
Industry Valuation and Performance
Has the Australian Hospitality Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 15 Jun 2024 | AU$61.1b | AU$23.6b | AU$365.2m | 23.7x | 167.4x | 2.6x |
| Mon, 13 May 2024 | AU$56.8b | AU$23.4b | AU$292.0m | 24.7x | 194.6x | 2.4x |
| Wed, 10 Apr 2024 | AU$60.4b | AU$23.4b | AU$292.0m | 26.1x | 206.9x | 2.6x |
| Fri, 08 Mar 2024 | AU$62.6b | AU$23.4b | AU$288.9m | 29.9x | 216.5x | 2.7x |
| Sun, 04 Feb 2024 | AU$71.4b | AU$24.8b | -AU$868,553,717.00 | 33.9x | -82.2x | 2.9x |
| Tue, 02 Jan 2024 | AU$69.3b | AU$24.8b | -AU$868,553,717.00 | 33.7x | -79.8x | 2.8x |
| Thu, 30 Nov 2023 | AU$66.6b | AU$24.8b | -AU$868,553,717.00 | 32.6x | -76.7x | 2.7x |
| Sat, 28 Oct 2023 | AU$64.9b | AU$24.2b | -AU$1,296,867,811.00 | 33.4x | -50x | 2.7x |
| Mon, 25 Sep 2023 | AU$67.5b | AU$24.2b | -AU$1,304,490,915.00 | 33.7x | -51.8x | 2.8x |
| Wed, 23 Aug 2023 | AU$70.0b | AU$23.6b | -AU$738,689,774.00 | 33.9x | -94.8x | 3x |
| Fri, 21 Jul 2023 | AU$69.3b | AU$23.6b | -AU$742,294,541.00 | 33.2x | -93.4x | 2.9x |
| Sun, 18 Jun 2023 | AU$68.3b | AU$23.5b | -AU$714,143,541.00 | 29.3x | -95.7x | 2.9x |
| Tue, 16 May 2023 | AU$70.1b | AU$23.0b | -AU$889,643,541.00 | 31x | -78.8x | 3x |
| Thu, 13 Apr 2023 | AU$68.7b | AU$23.0b | -AU$889,670,541.00 | 31.5x | -77.2x | 3x |
| Sat, 11 Mar 2023 | AU$66.8b | AU$23.0b | -AU$886,710,541.00 | 25.5x | -75.3x | 2.9x |
| Mon, 06 Feb 2023 | AU$68.3b | AU$21.1b | AU$74.1m | 29.8x | 921.2x | 3.2x |
| Wed, 04 Jan 2023 | AU$60.7b | AU$21.1b | AU$74.1m | 28.8x | 818.9x | 2.9x |
| Fri, 02 Dec 2022 | AU$66.3b | AU$21.1b | AU$74.1m | 29x | 894.3x | 3.1x |
| Sun, 30 Oct 2022 | AU$65.0b | AU$20.6b | AU$63.5m | 24.4x | 1024.5x | 3.2x |
| Tue, 27 Sep 2022 | AU$61.5b | AU$20.6b | AU$67.4m | 23.2x | 912.6x | 3x |
| Thu, 25 Aug 2022 | AU$57.2b | AU$17.2b | -AU$294,739,193.00 | 29.1x | -193.9x | 3.3x |
| Sat, 23 Jul 2022 | AU$58.1b | AU$20.3b | AU$193.6m | 23.4x | 300.4x | 2.9x |
| Mon, 20 Jun 2022 | AU$53.6b | AU$20.2b | AU$181.9m | 22.4x | 294.7x | 2.7x |
| Wed, 18 May 2022 | AU$64.9b | AU$19.6b | -AU$108,447,943.00 | 29.1x | -598.3x | 3.3x |
| Fri, 15 Apr 2022 | AU$69.4b | AU$19.6b | -AU$108,567,474.00 | 37.1x | -639.2x | 3.5x |
| Sun, 13 Mar 2022 | AU$68.0b | AU$19.6b | -AU$108,447,943.00 | 31.2x | -627.4x | 3.5x |
| Tue, 08 Feb 2022 | AU$76.3b | AU$18.8b | AU$106.2m | 33x | 718.4x | 4x |
| Thu, 06 Jan 2022 | AU$80.5b | AU$18.8b | AU$106.2m | 36.6x | 758.4x | 4.3x |
| Sat, 04 Dec 2021 | AU$79.6b | AU$19.2b | AU$134.7m | 35.7x | 591x | 4.2x |
| Mon, 01 Nov 2021 | AU$81.9b | AU$18.5b | -AU$271,678,378.00 | 38.8x | -301.4x | 4.4x |
| Wed, 29 Sep 2021 | AU$85.3b | AU$19.7b | -AU$232,700,328.00 | 36.6x | -366.6x | 4.3x |
| Fri, 27 Aug 2021 | AU$81.9b | AU$19.7b | -AU$233,647,570.00 | 37.4x | -350.6x | 4.2x |
| Sat, 03 Jul 2021 | AU$79.4b | AU$19.6b | -AU$241,640,570.00 | 41.9x | -328.5x | 4x |
Price to Earnings Ratio
-328.5x
Current Industry PE
- Investors are optimistic on the Australian Hospitality industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 167x which is higher than its 3-year average PE of 130x.
- The 3-year average PS ratio of 3.2x is higher than the industry's current PS ratio of 2.6x.
Past Earnings Growth
- Total earnings for the Hospitality industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 6.3% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the Australian Consumer Discretionary industry?
| AU Market | -1.68% | |
| Consumer Discretionary | 0.34% | |
| Hospitality | -0.53% | |
| Hotels, Resorts and Cruise Lines | 0.44% | |
| Casinos and Gaming | -0.40% | |
| Restaurants | -3.43% | |
| Leisure Facilities | -4.10% | |
Industry PE
- Investors are most optimistic about the Restaurants industry, which is trading close to its 3-year average PE ratio of 49.4x.
- Analysts are expecting annual earnings growth of 26.7%, which is higher than its past year's earnings decline of 41.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Leisure Facilities industry, expecting annual earnings growth of 64% over the next 5 years.
- In contrast, the Casinos and Gaming industry is expected to see its earnings grow by 12% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| TAH Tabcorp Holdings | AU$0.66 | 8.3% +AU$113.8m | -40.7% | PS0.6x | |
| TLC Lottery | AU$5.19 | 0.4% +AU$44.5m | 1.6% | PE37.3x | |
| FLT Flight Centre Travel Group | AU$19.57 | 1.0% +AU$41.8m | -8.8% | PE28x | |
| RFG Retail Food Group | AU$0.076 | 16.9% +AU$27.0m | 52.0% | PS1.7x | |
| JIN Jumbo Interactive | AU$16.10 | 0.8% +AU$7.6m | 10.6% | PE29.3x |
