ASX:P2P

Stock Analysis Report

Executive Summary

P2P Transport Limited operates in the personalized public transport sector in Australia.

Rewards

Trading at 92.9% below its fair value

Earnings are forecast to grow 108.1% per year

Risk Analysis

Does not have a meaningful market cap (A$7M)

Has less than 1 year of cash runway

Highly volatile share price over past 3 months

Shareholders have been diluted in the past year



Snowflake Analysis

High growth potential and slightly overvalued.


Similar Companies

Share Price & News

How has P2P Transport's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: P2P's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-11.9%

P2P

2.2%

AU Transportation

2.0%

AU Market


1 Year Return

-88.6%

P2P

19.8%

AU Transportation

18.2%

AU Market

Return vs Industry: P2P underperformed the Australian Transportation industry which returned 19.8% over the past year.

Return vs Market: P2P underperformed the Australian Market which returned 18.2% over the past year.


Shareholder returns

P2PIndustryMarket
7 Day-11.9%2.2%2.0%
30 Day-38.3%-2.8%-0.7%
90 Day-45.2%-3.8%0.7%
1 Year-88.6%-88.6%25.7%19.8%24.1%18.2%
3 Yearn/a38.7%31.3%36.0%17.3%
5 Yearn/a50.8%29.7%64.1%27.1%

Price Volatility Vs. Market

How volatile is P2P Transport's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is P2P Transport undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: P2P (A$0.07) is trading below our estimate of fair value (A$1.04)

Significantly Below Fair Value: P2P is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: P2P is unprofitable, so we can't compare its PE Ratio to the Transportation industry average.

PE vs Market: P2P is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate P2P's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: P2P is overvalued based on its PB Ratio (7.2x) compared to the XO Transportation industry average (1.4x).


Next Steps

Future Growth

How is P2P Transport forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

108.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: P2P is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.1%).

Earnings vs Market: P2P is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: P2P's is expected to become profitable in the next 3 years.

Revenue vs Market: P2P's revenue (9.3% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: P2P's revenue (9.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: P2P's Return on Equity is forecast to be high in 3 years time (32.9%)


Next Steps

Past Performance

How has P2P Transport performed over the past 5 years?

-41.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: P2P is currently unprofitable.

Growing Profit Margin: P2P is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: P2P is unprofitable, and losses have increased over the past 5 years at a rate of -41.6% per year.

Accelerating Growth: Unable to compare P2P's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: P2P is unprofitable, making it difficult to compare its past year earnings growth to the Transportation industry (6%).


Return on Equity

High ROE: P2P has a negative Return on Equity (-2408.5%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is P2P Transport's financial position?


Financial Position Analysis

Short Term Liabilities: P2P's short term assets (A$13.3M) do not cover its short term liabilities (A$36.4M).

Long Term Liabilities: P2P's short term assets (A$13.3M) exceed its long term liabilities (A$8.3M).


Debt to Equity History and Analysis

Debt Level: P2P's debt to equity ratio (1276.8%) is considered high.

Reducing Debt: Insufficient data to determine if P2P's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: P2P has a high level of physical assets or inventory.

Debt Coverage by Assets: P2P's debt is covered by short term assets (assets are 1.2x debt).


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: P2P has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if P2P has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is P2P Transport's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.4%markettop25%5.5%industryaverage4.4%forecastin3Years0%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate P2P's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate P2P'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 P2P's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if P2P'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 P2P's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

What is the CEO of P2P Transport's salary, the management and board of directors tenure and is there insider trading?

0.7yrs

Average management tenure


CEO

Greg Webb 0

0.7yrs

Tenure

0

Mr. Gregory David Webb also known as Greg, FAICD, FAIM, MCIT has been Managing Director and Director at Black & White Cabs Pty Ltd. since June 1996. Mr. Webb has been Executive Director and Head of Network ...


Management Age and Tenure

0.7yrs

Average Tenure

Experienced Management: P2P's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Age and Tenure

1.7yrs

Average Tenure

Experienced Board: P2P's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


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$21,67403 May 19
Gregory Webb
EntityIndividual
Role
Chief Executive Officer
Interim CEO
Shares75,255
Max PriceAU$0.29
BuyAU$7,22501 May 19
Harry Katsiabanis
EntityIndividual
Role
Member of the Board of Directors
Executive Director
Shares24,083
Max PriceAU$0.30
BuyAU$26,82530 Apr 19
Chip Beng Yeoh
EntityIndividual
Role
Chairman of the Board
Interim Chairman
Shares100,000
Max PriceAU$0.28
BuyAU$35,55229 Apr 19
Gregory Webb
EntityIndividual
Role
Chief Executive Officer
Interim CEO
Shares124,745
Max PriceAU$0.28
SellAU$380,39611 Jan 19
Regal Funds Management Pty Limited
EntityCompany
Shares579,324
Max PriceAU$0.66

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 41.7%.


Management Team

  • John Dickson (52yo)

    Chief Financial Officer

    • Tenure: 0.5yrs
  • Greg Webb

    Interim CEO

    • Tenure: 0.7yrs
  • Hasaka Martin

    Company Secretary

    • Tenure: 2.1yrs
  • Harry Katsiabanis

    Executive Director

    • Tenure: 2.8yrs
    • Compensation: AU$317.15k
  • Bruno D'Amico

    Chief Operating Officer

    • Tenure: 0yrs
    • Compensation: AU$317.15k
  • Michelle Nichols

    Chief Marketing Officer

    • Tenure: 0.7yrs

Board Members

  • Peter Cook (59yo)

    Non-Executive Director

    • Tenure: 2.1yrs
    • Compensation: AU$42.24k
  • Chip Beng Yeoh

    Interim Chairman

    • Tenure: 0.7yrs
    • Compensation: AU$42.24k
  • Greg Webb

    Interim CEO

    • Tenure: 0.7yrs
  • Harry Katsiabanis

    Executive Director

    • Tenure: 2.8yrs
    • Compensation: AU$317.15k

Company Information

P2P Transport Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: P2P Transport Limited
  • Ticker: P2P
  • Exchange: ASX
  • Founded: 1987
  • Industry: Trucking
  • Sector: Transportation
  • Market Cap: AU$7.042m
  • Shares outstanding: 93.89m
  • Website: https://p2ptransport.com.au

Number of Employees


Location

  • P2P Transport Limited
  • 11 Dryandra Road
  • Brisbane Airport
  • Brisbane
  • Queensland
  • 4008
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
P2PASX (Australian Securities Exchange)YesOrdinary SharesAUAUDDec 2017
P2PCHIA (Chi-X Australia)YesOrdinary SharesAUAUDDec 2017

Biography

P2P Transport Limited operates in the personalized public transport sector in Australia. It operates through Fleet, Network, and Adflow segments. The company provides vehicles on a rental basis to independ ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/11 10:47
End of Day Share Price2019/12/10 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.