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PBH

PointsBet Holdings ASX:PBH Stock Report

Last Price

AU$2.56

Market Cap

AU$850.1m

7D

-7.9%

1Y

-80.0%

Updated

28 Jun, 2022

Data

Company Financials +
PBH fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance0/6
Financial Health6/6
Dividends0/6

PBH Stock Overview

PointsBet Holdings Limited provides sports, racing, and iGaming betting products and services through its cloud-based technology platform in Australia and New Jersey.

PointsBet Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for PointsBet Holdings
Historical stock prices
Current Share PriceAU$2.56
52 Week HighAU$13.38
52 Week LowAU$1.93
Beta2.94
1 Month Change-12.03%
3 Month Change-32.98%
1 Year Change-80.00%
3 Year Change-0.39%
5 Year Changen/a
Change since IPO14.29%

Recent News & Updates

Jun 20
Are Investors Undervaluing PointsBet Holdings Limited (ASX:PBH) By 38%?

Are Investors Undervaluing PointsBet Holdings Limited (ASX:PBH) By 38%?

Today we will run through one way of estimating the intrinsic value of PointsBet Holdings Limited ( ASX:PBH ) by taking...

Shareholder Returns

PBHAU HospitalityAU Market
7D-7.9%2.1%2.8%
1Y-80.0%-28.2%-9.6%

Return vs Industry: PBH underperformed the Australian Hospitality industry which returned -28.2% over the past year.

Return vs Market: PBH underperformed the Australian Market which returned -9.6% over the past year.

Price Volatility

Is PBH's price volatile compared to industry and market?
PBH volatility
PBH Average Weekly Movement13.6%
Hospitality Industry Average Movement6.6%
Market Average Movement9.8%
10% most volatile stocks in AU Market16.5%
10% least volatile stocks in AU Market4.3%

Stable Share Price: PBH is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: PBH's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of Australian stocks.

About the Company

FoundedEmployeesCEOWebsite
2015539Sam Swanellhttps://www.pointsbet.com.au

PointsBet Holdings Limited provides sports, racing, and iGaming betting products and services through its cloud-based technology platform in Australia and New Jersey. The company operates through Australian Trading, Technology, and United States segments. It also engages in the provision of gaming support, pari-mutuel advanced deposit wagering, and business-to-business services, as well as in the retail sports betting and software development activities.

PointsBet Holdings Fundamentals Summary

How do PointsBet Holdings's earnings and revenue compare to its market cap?
PBH fundamental statistics
Market CapAU$850.13m
Earnings (TTM)-AU$247.92m
Revenue (TTM)AU$258.63m

3.0x

P/S Ratio

-3.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PBH income statement (TTM)
RevenueAU$258.63m
Cost of RevenueAU$141.91m
Gross ProfitAU$116.72m
Other ExpensesAU$364.65m
Earnings-AU$247.92m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Aug 30, 2022

Earnings per share (EPS)-0.82
Gross Margin45.13%
Net Profit Margin-95.86%
Debt/Equity Ratio0%

How did PBH perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is PBH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PBH?

Other financial metrics that can be useful for relative valuation.

PBH key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.1x
Enterprise Value/EBITDA-1.3x
PEG Ration/a

Price to Sales Ratio vs Peers

How does PBH's PS Ratio compare to its peers?

PBH PS Ratio vs Peers
The above table shows the PS ratio for PBH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average4.6x
BET Betmakers Technology Group
6x34.0%AU$343.7m
JIN Jumbo Interactive
10.1x15.2%AU$928.8m
TAH Tabcorp Holdings
0.4x-2.7%AU$2.4b
AGI Ainsworth Game Technology
1.7x10.5%AU$333.4m
PBH PointsBet Holdings
3x36.1%AU$850.1m

Price-To-Sales vs Peers: PBH is good value based on its Price-To-Sales Ratio (3x) compared to the peer average (4.6x).


Price to Earnings Ratio vs Industry

How does PBH's PE Ratio compare vs other companies in the AU Hospitality Industry?

Price-To-Sales vs Industry: PBH is expensive based on its Price-To-Sales Ratio (3x) compared to the Australian Hospitality industry average (2.2x)


Price to Sales Ratio vs Fair Ratio

What is PBH's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PBH PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3x
Fair PS Ratio7x

Price-To-Sales vs Fair Ratio: PBH is good value based on its Price-To-Sales Ratio (3x) compared to the estimated Fair Price-To-Sales Ratio (7x).


Share Price vs Fair Value

What is the Fair Price of PBH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PBH (A$2.56) is trading below our estimate of fair value (A$3.56)

Significantly Below Fair Value: PBH is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PBH's PEG Ratio to determine if it is good value.


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Future Growth

How is PointsBet Holdings forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


19.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PBH is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PBH is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PBH is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: PBH's revenue (36.1% per year) is forecast to grow faster than the Australian market (5.2% per year).

High Growth Revenue: PBH's revenue (36.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PBH is forecast to be unprofitable in 3 years.


Discover growth companies

Past Performance

How has PointsBet Holdings performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-66.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PBH is currently unprofitable.

Growing Profit Margin: PBH is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PBH is unprofitable, and losses have increased over the past 5 years at a rate of 66.8% per year.

Accelerating Growth: Unable to compare PBH's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PBH is unprofitable, making it difficult to compare its past year earnings growth to the Hospitality industry (31.6%).


Return on Equity

High ROE: PBH has a negative Return on Equity (-33.38%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is PointsBet Holdings's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: PBH's short term assets (A$626.4M) exceed its short term liabilities (A$113.0M).

Long Term Liabilities: PBH's short term assets (A$626.4M) exceed its long term liabilities (A$115.5M).


Debt to Equity History and Analysis

Debt Level: PBH is debt free.

Reducing Debt: PBH had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: PBH has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: PBH has sufficient cash runway for 2.2 years if free cash flow continues to reduce at historical rates of 71.1% each year.


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Dividend

What is PointsBet Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate PBH's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PBH's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PBH's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PBH's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PBH has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.1yrs

Average management tenure


CEO

Sam Swanell

no data

Tenure

AU$1,493,865

Compensation

Mr. Samuel J. Swanell, also known as Sam, is the Co-Founder, Managing Director and Group Chief Executive Officer at PointsBet Holdings Limited and has been its Director since March 15, 2015. He has experie...


CEO Compensation Analysis

Compensation vs Market: Sam's total compensation ($USD1.04M) is about average for companies of similar size in the Australian market ($USD864.91K).

Compensation vs Earnings: Sam's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: PBH's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

Experienced Board: PBH's board of directors are considered experienced (3.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 46.2%.


Top Shareholders

Company Information

PointsBet Holdings Limited's employee growth, exchange listings and data sources


Key Information

  • Name: PointsBet Holdings Limited
  • Ticker: PBH
  • Exchange: ASX
  • Founded: 2015
  • Industry: Casinos and Gaming
  • Sector: Consumer Services
  • Implied Market Cap: AU$850.131m
  • Shares outstanding: 303.62m
  • Website: https://www.pointsbet.com.au

Number of Employees


Location

  • PointsBet Holdings Limited
  • 165 Cremorne Street
  • Level 2
  • Cremorne
  • Victoria
  • 3121
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/28 00:00
End of Day Share Price2022/06/28 00:00
Earnings2021/12/31
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.