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SXL

Southern Cross Media Group ASX:SXL Stock Report

Last Price

AU$0.92

Market Cap

AU$233.7m

7D

0%

1Y

-57.6%

Updated

01 Oct, 2022

Data

Company Financials +
SXL fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance0/6
Financial Health5/6
Dividends2/6

SXL Stock Overview

Southern Cross Media Group Limited, together with its subsidiaries, engages in the creation of audio content for distribution on broadcast and digital networks.

Southern Cross Media Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Southern Cross Media Group
Historical stock prices
Current Share PriceAU$0.92
52 Week HighAU$2.39
52 Week LowAU$0.88
Beta1.79
1 Month Change-8.00%
3 Month Change-8.91%
1 Year Change-57.60%
3 Year Change-92.00%
5 Year Change-91.89%
Change since IPO-98.09%

Recent News & Updates

Shareholder Returns

SXLAU MediaAU Market
7D0%-3.0%-1.7%
1Y-57.6%-24.2%-10.8%

Return vs Industry: SXL underperformed the Australian Media industry which returned -24.2% over the past year.

Return vs Market: SXL underperformed the Australian Market which returned -10.8% over the past year.

Price Volatility

Is SXL's price volatile compared to industry and market?
SXL volatility
SXL Average Weekly Movement5.2%
Media Industry Average Movement7.5%
Market Average Movement9.4%
10% most volatile stocks in AU Market16.5%
10% least volatile stocks in AU Market4.2%

Stable Share Price: SXL is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SXL's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2005n/aGrant Blackleyhttps://www.southerncrossaustereo.com.au

Southern Cross Media Group Limited, together with its subsidiaries, engages in the creation of audio content for distribution on broadcast and digital networks. It operates in two segments, Audio and Television. The company owns 99 radio stations in FM, AM, and DAB+ radio, as well as 34 regional radio stations; broadcasts 93 free to air TV signals in regional Australia; operates LiSTNR, an audio destination for consumers housing radio, podcasts, music, and news; and offers sales representation for open audio platform SoundCloud and Sonos Radio.

Southern Cross Media Group Fundamentals Summary

How do Southern Cross Media Group's earnings and revenue compare to its market cap?
SXL fundamental statistics
Market CapAU$233.71m
Earnings (TTM)-AU$153.72m
Revenue (TTM)AU$519.68m

0.4x

P/S Ratio

-1.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SXL income statement (TTM)
RevenueAU$519.68m
Cost of RevenueAU$350.40m
Gross ProfitAU$169.28m
Other ExpensesAU$323.00m
Earnings-AU$153.72m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.61
Gross Margin32.57%
Net Profit Margin-29.58%
Debt/Equity Ratio27.6%

How did SXL perform over the long term?

See historical performance and comparison

Dividends

10.3%

Current Dividend Yield

-16%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

SXL 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/Revenue0.8x
Enterprise Value/EBITDA6x
PEG Ration/a

Price to Sales Ratio vs Peers

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

SXL PS Ratio vs Peers
The above table shows the PS ratio for SXL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average0.9x
HT1 HT&E
1.3x3.2%AU$372.7m
SWM Seven West Media
0.4x-0.3%AU$662.2m
SEG Sports Entertainment Group
0.7x3.3%AU$72.8m
NEC Nine Entertainment Holdings
1.2x3.2%AU$3.2b
SXL Southern Cross Media Group
0.4x1.1%AU$233.7m

Price-To-Sales vs Peers: SXL is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.9x).


Price to Earnings Ratio vs Industry

How does SXL's PE Ratio compare vs other companies in the Oceanian Media Industry?

Price-To-Sales vs Industry: SXL is good value based on its Price-To-Sales Ratio (0.4x) compared to the Global Media industry average (1.1x)


Price to Sales Ratio vs Fair Ratio

What is SXL'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.

SXL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio1.4x

Price-To-Sales vs Fair Ratio: SXL is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).


Share Price vs Fair Value

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

Below Fair Value: SXL (A$0.92) is trading below our estimate of fair value (A$3.99)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Southern Cross Media Group forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


68.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SXL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.8%).

Earnings vs Market: SXL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SXL is expected to become profitable in the next 3 years.

Revenue vs Market: SXL's revenue (1.1% per year) is forecast to grow slower than the Australian market (3.7% per year).

High Growth Revenue: SXL's revenue (1.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SXL's Return on Equity is forecast to be low in 3 years time (6.6%).


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Past Performance

How has Southern Cross Media Group 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


-17.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SXL is currently unprofitable.

Growing Profit Margin: SXL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SXL is unprofitable, and losses have increased over the past 5 years at a rate of 17.7% per year.

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

Earnings vs Industry: SXL is unprofitable, making it difficult to compare its past year earnings growth to the Media industry (16.2%).


Return on Equity

High ROE: SXL has a negative Return on Equity (-33.39%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Southern Cross Media Group's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: SXL's short term assets (A$153.8M) exceed its short term liabilities (A$82.8M).

Long Term Liabilities: SXL's short term assets (A$153.8M) do not cover its long term liabilities (A$528.1M).


Debt to Equity History and Analysis

Debt Level: SXL's net debt to equity ratio (16.7%) is considered satisfactory.

Reducing Debt: SXL's debt to equity ratio has reduced from 57% to 27.6% over the past 5 years.


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: Whilst unprofitable SXL has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: SXL is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 18% per year.


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Dividend

What is Southern Cross Media Group current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


10.33%

Current Dividend Yield

Dividend Yield vs Market

Southern Cross Media Group Dividend Yield vs Market
How does Southern Cross Media Group dividend yield compare to the market?
SegmentDividend Yield
Company (Southern Cross Media Group)10.3%
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Media)6.7%
Analyst forecast in 3 Years (Southern Cross Media Group)10.6%

Notable Dividend: SXL's dividend (10.33%) is higher than the bottom 25% of dividend payers in the Australian market (2.8%).

High Dividend: SXL's dividend (10.33%) is in the top 25% of dividend payers in the Australian market (7.16%)


Stability and Growth of Payments

Stable Dividend: SXL's dividend payments have been volatile in the past 10 years.

Growing Dividend: SXL's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: SXL is paying a dividend but the company is unprofitable.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (99.3%), SXL's dividend payments are not well covered by cash flows.


Discover strong dividend paying companies

Management

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

6.6yrs

Average management tenure


CEO

Grant Blackley (56 yo)

7.25yrs

Tenure

AU$1,692,408

Compensation

Mr. Grant Blackley has been the Chief Executive Officer, Managing Director and Executive Director of Southern Cross Austereo Pty Limited since June 29, 2015. Mr. Blackley has been the Chief Executive Offic...


CEO Compensation Analysis

Grant Blackley's Compensation vs Southern Cross Media Group Earnings
How has Grant Blackley's remuneration changed compared to Southern Cross Media Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022AU$2mAU$1m

-AU$154m

Mar 31 2022n/an/a

-AU$61m

Dec 31 2021n/an/a

AU$32m

Sep 30 2021n/an/a

AU$40m

Jun 30 2021AU$2mAU$1m

AU$48m

Mar 31 2021n/an/a

AU$43m

Dec 31 2020n/an/a

AU$37m

Sep 30 2020n/an/a

AU$31m

Jun 30 2020AU$789kAU$1m

AU$25m

Mar 31 2020n/an/a

AU$37m

Dec 31 2019n/an/a

AU$48m

Sep 30 2019n/an/a

-AU$22m

Jun 30 2019AU$2mAU$1m

-AU$91m

Mar 31 2019n/an/a

-AU$124m

Dec 31 2018n/an/a

-AU$157m

Sep 30 2018n/an/a

-AU$78m

Jun 30 2018AU$2mAU$1m

AU$82k

Mar 31 2018n/an/a

AU$49m

Dec 31 2017n/an/a

AU$98m

Sep 30 2017n/an/a

AU$103m

Jun 30 2017AU$2mAU$1m

AU$109m

Mar 31 2017n/an/a

AU$95m

Dec 31 2016n/an/a

AU$82m

Sep 30 2016n/an/a

AU$80m

Jun 30 2016AU$2mAU$1m

AU$77m

Compensation vs Market: Grant's total compensation ($USD1.09M) is above average for companies of similar size in the Australian market ($USD618.04K).

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


Leadership Team

Experienced Management: SXL's management team is seasoned and experienced (6.6 years average tenure).


Board Members

Experienced Board: SXL's board of directors are considered experienced (7.4 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

ASX:SXL Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
15 Jun 22BuyAU$3,654,914Ubique Asset Management Pty LtdCompany3,548,805AU$1.03
29 Apr 22BuyAU$2,631,281Ubique Asset Management Pty LtdCompany1,479,599AU$1.78
12 Apr 22BuyAU$347,888Host-Plus Pty. LimitedCompany219,712AU$1.58
12 Apr 22SellAU$374,055Host-Plus Pty. LimitedCompany210,267AU$1.78
14 Feb 22BuyAU$7,688,974The Retail Employees Superannuation TrustCompany3,563,676AU$2.49
24 Jan 22SellAU$31,241Colonial First State Investments LimitedCompany17,067AU$1.83
20 Dec 21BuyAU$10,025Heith MacKay-CruiseIndividual4,975AU$2.02
13 Dec 21SellAU$1,554,187Colonial First State Investments LimitedCompany769,653AU$2.03
10 Dec 21BuyAU$845,969Colonial First State Investments LimitedCompany419,295AU$2.02
09 Dec 21BuyAU$868,848Colonial First State Investments LimitedCompany432,644AU$2.01
06 Dec 21SellAU$1,085,869Colonial First State Investments LimitedCompany527,101AU$2.10
24 Nov 21BuyAU$45,254Carole CampbellIndividual21,000AU$2.15
23 Nov 21SellAU$482,749The Retail Employees Superannuation TrustCompany232,091AU$2.08
12 Nov 21BuyAU$29,891Heith MacKay-CruiseIndividual13,215AU$2.26
03 Nov 21SellAU$11,252,168Investors Mutual LimitedCompany14,822,579AU$0.76
01 Nov 21BuyAU$1,812,222Colonial First State Investments LimitedCompany910,658AU$2.36

Ownership Breakdown

What is the ownership structure of SXL?
Owner TypeNumber of SharesOwnership Percentage
Private Companies3,918,3541.2%
Individual Insiders4,329,3611.3%
Institutions326,466,15997.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 129.97% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
70.98%
Orbis Investment Management Limited
180,548,504A$166.1m260.3%0.48%
14.09%
Ubique Asset Management Pty Ltd
35,829,504A$33.0m0%42.96%
9.32%
The Retail Employees Superannuation Trust
23,706,976A$21.8m0%6.31%
5.58%
Investors Mutual Limited
14,203,190A$13.1m0%2.78%
5.19%
Challenger Limited
13,208,176A$12.2m0%0.31%
4.56%
The Vanguard Group, Inc.
11,592,805A$10.7m4.03%no data
4.09%
AMP Capital Investors Limited
10,408,696A$9.6m900%0.46%
3.71%
Dimensional Fund Advisors LP
9,428,783A$8.7m-28.56%no data
3.04%
Host-Plus Pty. Limited
7,724,016A$7.1m0%6.23%
1.47%
BlackRock, Inc.
3,748,626A$3.4m-1.12%no data
1.19%
Commonwealth Bank Officers Superannuation Corporation Pty Limited
3,028,203A$2.8m0%6.37%
1.14%
Colonial First State Investments Limited
2,899,387A$2.7m-71.34%0.02%
1.06%
Commonwealth Superannuation Corporation
2,702,012A$2.5m9.86%0.03%
0.71%
Norges Bank Investment Management
1,808,674A$1.7m0%no data
0.63%
John Harbot
1,600,000A$1.5m190.91%no data
0.5%
Charles Schwab Investment Management, Inc.
1,276,373A$1.2m5.53%no data
0.47%
Bradley Krause
1,188,408A$1.1m0%no data
0.39%
Wearne Webber Capital Pty Limited
1,000,000A$920.0k0%no data
0.36%
BetaShares Capital Limited
908,950A$836.2k3.17%0.01%
0.3%
American Century Investment Management Inc
775,001A$713.0k0%no data
0.29%
Birbal Investments Pty Ltd
750,000A$690.0k0%no data
0.29%
Zachary Investments Pty Ltd
750,000A$690.0k0%no data
0.22%
Talmal Pty Ltd
550,000A$506.0k83.33%no data
0.21%
Netyard Pty Limited
540,000A$496.8k51.58%no data
0.16%
Bendigo and Adelaide Bank Limited, Asset Management Arm
409,000A$376.3k0%0.17%

Company Information

Southern Cross Media Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Southern Cross Media Group Limited
  • Ticker: SXL
  • Exchange: ASX
  • Founded: 2005
  • Industry: Broadcasting
  • Sector: Media
  • Implied Market Cap: AU$233.707m
  • Shares outstanding: 254.03m
  • Website: https://www.southerncrossaustereo.com.au

Number of Employees


Location

  • Southern Cross Media Group Limited
  • 101 Moray Street
  • Level 2
  • Melbourne
  • Victoria
  • 3205
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6MMDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2006
SXLASX (Australian Securities Exchange)YesOrdinary SharesAUAUDNov 2006
SXLCHIA (Chi-X Australia)YesOrdinary SharesAUAUDNov 2006

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/01 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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.