ASX:TGP

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

360 Capital Group is an ASX-listed, investment and funds management group, focused on strategic and active investment management of alternative assets. More Details


Snowflake Analysis

Excellent balance sheet not a dividend payer.


Similar Companies

Share Price & News

How has 360 Capital Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TGP is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: TGP's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-3.6%

TGP

1.3%

AU REITs

0.3%

AU Market


1 Year Return

-9.8%

TGP

-11.2%

AU REITs

12.5%

AU Market

Return vs Industry: TGP exceeded the Australian REITs industry which returned -11.2% over the past year.

Return vs Market: TGP underperformed the Australian Market which returned 12.5% over the past year.


Shareholder returns

TGPIndustryMarket
7 Day-3.6%1.3%0.3%
30 Day1.6%-0.7%2.2%
90 Day-1.6%-5.6%4.0%
1 Year-5.4%-9.8%-7.5%-11.2%16.1%12.5%
3 Year4.8%-10.2%29.0%11.9%31.1%15.1%
5 Year30.8%-0.5%43.9%12.3%62.5%31.3%

Long-Term Price Volatility Vs. Market

How volatile is 360 Capital Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is 360 Capital Group undervalued compared to its fair value and its price relative to the market?

303.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TGP (A$0.93) is trading above our estimate of fair value (A$0.46)

Significantly Below Fair Value: TGP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TGP is poor value based on its PE Ratio (303.7x) compared to the AU REITs industry average (17.6x).

PE vs Market: TGP is poor value based on its PE Ratio (303.7x) compared to the Australian market (20x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: TGP's PB Ratio (1x) is in line with the AU REITs industry average.


Next Steps

Future Growth

How is 360 Capital Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.0%

Forecasted Real Estate 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 360 Capital Group 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 360 Capital Group performed over the past 5 years?

-47.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TGP has a large one-off loss of A$446.0K impacting its December 31 2020 financial results.

Growing Profit Margin: TGP's current net profit margins (3.4%) are lower than last year (23.4%).


Past Earnings Growth Analysis

Earnings Trend: TGP's earnings have declined by 47.1% per year over the past 5 years.

Accelerating Growth: TGP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TGP had negative earnings growth (-79.2%) over the past year, making it difficult to compare to the REITs industry average (-3.1%).


Return on Equity

High ROE: TGP's Return on Equity (0.2%) is considered low.


Next Steps

Financial Health

How is 360 Capital Group's financial position?


Financial Position Analysis

Short Term Liabilities: TGP's short term assets (A$122.7M) exceed its short term liabilities (A$9.3M).

Long Term Liabilities: TGP's short term assets (A$122.7M) exceed its long term liabilities (A$23.3M).


Debt to Equity History and Analysis

Debt Level: TGP's debt to equity ratio (6.8%) is considered satisfactory.

Reducing Debt: TGP's debt to equity ratio has reduced from 88.9% to 6.8% over the past 5 years.

Debt Coverage: TGP's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: TGP's interest payments on its debt are well covered by EBIT (23.5x coverage).


Balance Sheet


Next Steps

Dividend

What is 360 Capital Group current dividend yield, its reliability and sustainability?

4.32%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: TGP's dividend (4.32%) is higher than the bottom 25% of dividend payers in the Australian market (2.09%).

High Dividend: TGP's dividend (4.32%) is low compared to the top 25% of dividend payers in the Australian market (5.52%).


Stability and Growth of Payments

Stable Dividend: TGP has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: TGP has only been paying a dividend for 8 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: TGP is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.3yrs

Average management tenure


CEO

Tony Pitt

7.42yrs

Tenure

AU$805,475

Compensation

Mr. Tony Robert Pitt has been a Group Managing Director and Executive Director of 360 Capital Group since October 2, 2013. He serves as Managing Director and Executive Director of 360 Capital REIT. Mr. Pit...


CEO Compensation Analysis

Compensation vs Market: Tony's total compensation ($USD629.08K) is about average for companies of similar size in the Australian market ($USD509.85K).

Compensation vs Earnings: Tony's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Tony Pitt
Group MD & Executive Director7.42yrsAU$805.48k28.81%
A$ 62.5m
Glenn Butterworth
Group CFO & Joint Company Secretary7.25yrsAU$567.03k1.28%
A$ 2.8m
James Storey
Head of Real Assets2.5yrsAU$541.73k1.28%
A$ 2.8m
Dennison Hambling
Head of Public & Private Equity1.08yrsAU$416.87k0.43%
A$ 925.0k
Christopher Chase
Head of Credit1.58yrsAU$421.24k0.43%
A$ 925.0k
Mitchell Peasley
Investment Manager0.83yrno datano data
David Yuile
Managing Director of Digital Infrastructureno datano datano data
Ainslie Ebejer
Group Financial Controllerno datano datano data
Matt Bowden
Financial Controllerno datano datano data
Kimberley Child
Joint Company Secretary0.58yrno datano data
Stephen Burt
Managing Director of Hotel Capital Partners0.25yrno datano data
Ainslie McFarland
Finance Managerno datano datano data

1.3yrs

Average Tenure

Experienced Management: TGP's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Tony Pitt
Group MD & Executive Director7.42yrsAU$805.48k28.81%
A$ 62.5m
Andrew Moffat
Non-Executive Independent Director7.42yrsAU$97.10k0.45%
A$ 977.8k
David van Aanholt
Independent Non-Executive Chairman8yrsAU$155.50k0.16%
A$ 349.3k
Graham Lenzner
Non-Executive Independent Director7.83yrsAU$97.10k0.15%
A$ 326.0k
William Ballhausen
Non-Executive Independent Director7.42yrsAU$110.18k0.21%
A$ 462.5k

7.4yrs

Average Tenure

Experienced Board: TGP'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

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7.4%.


Top Shareholders

Company Information

360 Capital Group Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: 360 Capital Group Limited
  • Ticker: TGP
  • Exchange: ASX
  • Founded: 1997
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: AU$217.036m
  • Shares outstanding: 234.63m
  • Website: https://www.360capital.com.au

Location

  • 360 Capital Group Limited
  • 56 Pitt Street
  • Level 8
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TGPASX (Australian Securities Exchange)YesStapled SecuritiesAUAUDJul 2005
TGPCHIA (Chi-X Australia)YesStapled SecuritiesAUAUDJul 2005

Biography

360 Capital Group is an ASX-listed, investment and funds management group, focused on strategic and active investment management of alternative assets. Led by a highly experienced team, the Group operates ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/04 07:08
End of Day Share Price2021/03/04 00:00
Earnings2020/12/31
Annual Earnings2020/06/30


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.