ASX:2BE

Stock Analysis Report

Executive Summary

Tubi Limited, together with its subsidiaries, manufactures and sells high density polyethylene (HDPE) pipes in Australia, the United States, and New Zealand.

Rewards

PE ratio (12.8x) is below the Australian market (18.6x)

Earnings grew by 190.7% over the past year

Risk Analysis

High level of non-cash earnings

Highly volatile share price over past 3 months

Does not have a meaningful market cap (A$24M)



Snowflake Analysis

Flawless balance sheet and slightly overvalued.

Share Price & News

How has Tubi's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2BE's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-16.7%

2BE

0.8%

AU Oil and Gas

0.7%

AU Market


1 Year Return

n/a

2BE

-8.5%

AU Oil and Gas

15.8%

AU Market

Return vs Industry: Insufficient data to determine how 2BE performed against the Australian Oil and Gas industry.

Return vs Market: Insufficient data to determine how 2BE performed against the Australian Market.


Shareholder returns

2BEIndustryMarket
7 Day-16.7%0.8%0.7%
30 Day-16.7%-8.5%0.4%
90 Day-20.0%-1.8%6.5%
1 Yearn/a-4.6%-8.5%21.0%15.8%
3 Yearn/a12.1%0.7%37.4%19.1%
5 Yearn/a5.7%-11.1%50.7%17.1%

Price Volatility Vs. Market

How volatile is Tubi's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Tubi undervalued compared to its fair value and its price relative to the market?

12.83x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 2BE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 2BE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 2BE is poor value based on its PE Ratio (12.8x) compared to the Oil and Gas industry average (8.7x).

PE vs Market: 2BE is good value based on its PE Ratio (12.8x) compared to the Australian market (18.6x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2BE's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2BE is good value based on its PB Ratio (1.1x) compared to the AU Oil and Gas industry average (1.2x).


Next Steps

Future Growth

How is Tubi forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.4%

Forecasted Energy industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tubi has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Tubi performed over the past 5 years?

190.7%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: 2BE has a high level of non-cash earnings.

Growing Profit Margin: 2BE's current net profit margins (4.7%) are higher than last year (3%).


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if 2BE's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Insufficient data to compare 2BE's past year earnings growth to its 5-year average.

Earnings vs Industry: 2BE earnings growth over the past year (190.7%) exceeded the Oil and Gas industry 58.2%.


Return on Equity

High ROE: 2BE's Return on Equity (6.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Tubi's financial position?


Financial Position Analysis

Short Term Liabilities: 2BE's short term assets (A$12.8M) exceed its short term liabilities (A$6.6M).

Long Term Liabilities: 2BE's short term assets (A$12.8M) exceed its long term liabilities (A$2.0M).


Debt to Equity History and Analysis

Debt Level: 2BE is debt free.

Reducing Debt: 2BE had no debt 5 years ago.

Debt Coverage: 2BE has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 2BE has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: 2BE has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if 2BE's debt is covered by short term assets.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%2.3%markettop25%5.4%industryaverage4.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 2BE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 2BE's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 2BE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 2BE's dividend payments have been increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 2BE's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

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

1.1yrs

Average management tenure


CEO

Jeff Shorter (49yo)

0.8yrs

Tenure

AU$289,048

Compensation

Mr. Jeffrey Kenneth Shorter, B.Sc, M.B.A, has been Chief Executive Officer since December 4, 2018 & Director since April 29, 2019 at Tubi Limited and also serves as Managing Director. Mr. Shorter served as ...


CEO Compensation Analysis

Compensation vs Market: Jeff's total compensation ($USD192.97K) is about average for companies of similar size in the Australian market ($USD253.17K).

Compensation vs Earnings: Insufficient data to compare Jeff's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Jeffrey Shorter
MD, CEO & Director0.8yrsAU$289.05kno data
Marcello Umberto Russo
Founder & Executive Director of Business Development10.5yrsAU$350.22k14.7% A$3.6m
Ian Coates
CFO & Company Secretary0yrsAU$288.15k0.64% A$155.3k
Wes Long
Vice President of Sales & Business Development1.1yrsno datano data

1.1yrs

Average Tenure

Experienced Management: 2BE's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Jeffrey Shorter
MD, CEO & Director0.8yrsAU$289.05kno data
Marcello Umberto Russo
Founder & Executive Director of Business Development10.5yrsAU$350.22k14.7% A$3.6m
Brent Emmett
Non-Executive Independent Director0.8yrsno data0.31% A$75.0k
Michael Tilley
Non-Executive Chairman6.7yrsno data21.34% A$5.2m
Anthony Willsallen
Non-Executive Director6.7yrsno datano data
Simon Bird
Director0.2yrsno datano data

3.9yrs

Average Tenure

65yo

Average Age

Experienced Board: 2BE's board of directors are considered experienced (3.9 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: 2BE only recently listed within the past 12 months, with total shares outstanding growing by 13.6% in the past year..


Top Shareholders

Company Information

Tubi Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tubi Limited
  • Ticker: 2BE
  • Exchange: ASX
  • Founded: 1972
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: AU$24.314m
  • Shares outstanding: 243.14m
  • Website: https://www.tubigroup.com

Location

  • Tubi Limited
  • 2 Hopetoun Street
  • Paddington
  • New South Wales
  • 2021
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2BEASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJun 2019
2BECHIA (Chi-X Australia)YesOrdinary SharesAUAUDJun 2019

Biography

Tubi Limited, together with its subsidiaries, manufactures and sells high density polyethylene (HDPE) pipes in Australia, the United States, and New Zealand. Its products include mobile modular extrusions, HDPEs, large bore reeling, stringing, HDPE 40bars, and corrugated pipes. The company’s products are used in irrigation, mining, shale gas and LNG, water infrastructure, pipe relining, and power sectors. Tubi Limited was founded in 1972 and is based in Paddington, Australia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/20 10:54
End of Day Share Price2020/02/19 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.