ASX:TGP

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Concerning outlook with worrying balance sheet.


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


Market Performance


7 Day Return

1.3%

TGP

0.2%

AU REITs

0.4%

AU Market


1 Year Return

19.2%

TGP

18.4%

AU REITs

9.8%

AU Market

Return vs Industry: TGP matched the Australian REITs industry which returned 18.4% over the past year.

Return vs Market: TGP exceeded the Australian Market which returned 9.8% over the past year.


Shareholder returns

TGPIndustryMarket
7 Day1.3%0.2%0.4%
30 Day7.0%0.8%-1.3%
90 Day10.0%-0.8%-0.5%
1 Year25.1%19.2%24.4%18.4%16.1%9.8%
3 Year49.4%26.4%46.8%25.7%36.1%17.9%
5 Year62.5%21.7%100.9%56.2%49.4%15.7%

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?

153.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TGP (A$1.15) is trading above our estimate of fair value (A$0.81)

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 (153.6x) compared to the REITs industry average (16x).

PE vs Market: TGP is poor value based on its PE Ratio (153.6x) compared to the Australian market (18.2x).


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 is overvalued based on its PB Ratio (1.2x) compared to the AU REITs industry average (1.1x).


Next Steps

Future Growth

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

9.6%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if TGP's forecast earnings growth is above the savings rate (2.3%).

Earnings vs Market: Insufficient data to determine if TGP's earnings are forecast to grow faster than the Australian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TGP's revenue (9.6% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: TGP's revenue (9.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TGP's Return on Equity is forecast to be low in 3 years time (3.9%).


Next Steps

Past Performance

How has 360 Capital Group performed over the past 5 years?

-12.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TGP's earnings have declined by -12.2% 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 (-90.1%) over the past year, making it difficult to compare to the REITs industry average (-16.3%).


Return on Equity

High ROE: TGP's Return on Equity (1.1%) is considered low.


Return on Assets

ROA vs Industry: TGP's Return on Assets is below or equal to the REITs industry average last year.


Return on Capital Employed

ROCE Improving: TGP's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is 360 Capital Group's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: TGP has a low level of unsold assets or inventory.

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


Financial Institutions Analysis

Asset Level: TGP's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if TGP has a sufficient allowance for bad loans.

Low Risk Liabilities: TGP reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if TGP has an acceptable proportion of non-loan assets held.

Low Risk Deposits: TGP has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if TGP has an appropriate level of bad loans.


Next Steps

Dividend

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

3.48%

Current Dividend Yield


Dividend Yield vs Market

company3.5%marketbottom25%2.4%markettop25%5.6%industryaverage4.4%forecastin3Years3.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: TGP's dividend (3.48%) is higher than the bottom 25% of dividend payers in the Australian market (2.44%).

High Dividend: TGP's dividend (3.48%) is low compared to the top 25% of dividend payers in the Australian market (5.59%).

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 7 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (191.5%), TGP's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TGP's dividends in 3 years are not forecast to be well covered by earnings (100% payout ratio).


Next Steps

Management

What is the CEO of 360 Capital Group's salary, the management and board of directors tenure and is there insider trading?

4.3yrs

Average management tenure


CEO

Tony Pitt 0

6yrs

Tenure

AU$795,522

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 the Managing Director of 360 Capital RE Limited. Mr. Pitt serves as t ...


CEO Compensation Analysis

Compensation vs. Market: Tony's total compensation ($USD544.62K) is about average for companies of similar size in the Australian market ($USD464.02K).

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


Management Age and Tenure

4.3yrs

Average Tenure

Experienced Management: TGP's management team is considered experienced (4.3 years average tenure).


Board Age and Tenure

6.0yrs

Average Tenure

Experienced Board: TGP's board of directors are considered experienced (6 years average tenure).


Insider Trading

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


Recent Insider Transactions

BuyAU$3,382,76307 Aug 19
National Exchange Pty. Ltd., Asset Management Arm
EntityCompany
Shares3,257,565
Max PriceAU$1.04
BuyAU$30,30901 Nov 18
Tony Pitt
EntityIndividual
Role
Chief Executive Officer
Group MD & Executive Director
Shares31,559
Max PriceAU$0.96

Ownership Breakdown


Management Team

  • Tony Pitt

    Group MD & Executive Director

    • Tenure: 6yrs
    • Compensation: AU$795.52k
  • David Yuile

    Head of Digital Infrastructure

    • Tenure: 0yrs
  • Glenn Butterworth

    Group Chief Financial Officer

    • Tenure: 5.8yrs
    • Compensation: AU$615.91k
  • James Storey

    Head of Real Assets

    • Tenure: 1.1yrs
    • Compensation: AU$520.67k
  • Jennifer Vercoe

    Company Secretary

    • Tenure: 2.7yrs
  • Dennison Hambling

    Head of Public & Private Equity

    • Tenure: 0yrs
  • Chris Chase

    Head of Private Credit

    • Tenure: 0yrs
  • Libby Langtry

    Investor Relations Manager

    • Tenure: 0yrs
  • Ainslie Ebejer

    Group Financial Controller

    • Tenure: 0yrs
  • Matt Bowden

    Financial Controller

    • Tenure: 0yrs

Board Members

  • Andrew Moffat (58yo)

    Non-Executive Independent Director

    • Tenure: 6yrs
    • Compensation: AU$96.23k
  • David van Aanholt (51yo)

    Independent Chairman

    • Tenure: 6.6yrs
    • Compensation: AU$145.50k
  • Tony Pitt

    Group MD & Executive Director

    • Tenure: 6yrs
    • Compensation: AU$795.52k
  • Graham Lenzner

    Non-Executive Independent Director

    • Tenure: 6.4yrs
    • Compensation: AU$96.23k
  • William Ballhausen

    Non-Executive Independent Director

    • Tenure: 6yrs
    • Compensation: AU$134.73k

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$251.129m
  • Shares outstanding: 218.37m
  • 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 Analysis2019/10/20 10:33
End of Day Share Price2019/10/18 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.