Tabcorp Holdings Limited, together with its subsidiaries, provides gambling and entertainment services in Australia.
Undervalued with solid track record.
Share Price & News
How has Tabcorp Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: THL has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: THL exceeded the German Hospitality industry which returned -34.4% over the past year.
Return vs Market: THL underperformed the German Market which returned 4.5% over the past year.
Price Volatility Vs. Market
How volatile is Tabcorp Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Tabcorp Holdings undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: THL (€1.97) is trading below our estimate of fair value (€2.79)
Significantly Below Fair Value: THL is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: THL is good value based on its PE Ratio (17.2x) compared to the DE Hospitality industry average (20.2x).
PE vs Market: THL is good value based on its PE Ratio (17.2x) compared to the German market (21.2x).
Price to Earnings Growth Ratio
PEG Ratio: THL is poor value based on its PEG Ratio (1.6x)
Price to Book Ratio
PB vs Industry: THL is good value based on its PB Ratio (0.9x) compared to the DE Hospitality industry average (2x).
How is Tabcorp Holdings forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: THL's forecast earnings growth (10.5% per year) is above the savings rate (0.2%).
Earnings vs Market: THL's earnings (10.5% per year) are forecast to grow slower than the German market (22.3% per year).
High Growth Earnings: THL's earnings are forecast to grow, but not significantly.
Revenue vs Market: THL's revenue (1.8% per year) is forecast to grow slower than the German market (5.9% per year).
High Growth Revenue: THL's revenue (1.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: THL's Return on Equity is forecast to be low in 3 years time (4.9%).
How has Tabcorp Holdings performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: THL has high quality earnings.
Growing Profit Margin: THL's current net profit margins (6.8%) are higher than last year (4.7%).
Past Earnings Growth Analysis
Earnings Trend: THL's earnings have grown by 5.7% per year over the past 5 years.
Accelerating Growth: THL's earnings growth over the past year (56.6%) exceeds its 5-year average (5.7% per year).
Earnings vs Industry: THL earnings growth over the past year (56.6%) exceeded the Hospitality industry -15.6%.
Return on Equity
High ROE: THL's Return on Equity (5.3%) is considered low.
How is Tabcorp Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: THL's short term assets (A$787.1M) do not cover its short term liabilities (A$1.6B).
Long Term Liabilities: THL's short term assets (A$787.1M) do not cover its long term liabilities (A$4.8B).
Debt to Equity History and Analysis
Debt Level: THL's debt to equity ratio (54%) is considered high.
Reducing Debt: THL's debt to equity ratio has reduced from 82.5% to 54% over the past 5 years.
Debt Coverage: THL's debt is not well covered by operating cash flow (17.7%).
Interest Coverage: THL's interest payments on its debt are well covered by EBIT (4.3x coverage).
What is Tabcorp Holdings's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: THL's dividend (6.79%) is higher than the bottom 25% of dividend payers in the German market (1.24%).
High Dividend: THL's dividend (6.79%) is in the top 25% of dividend payers in the German market (3.77%)
Stability and Growth of Payments
Stable Dividend: THL's dividend payments have been volatile in the past 10 years.
Growing Dividend: THL's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (116.5%), THL's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: THL's dividends in 3 years are not forecast to be well covered by earnings (101.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
David Robert Attenborough (57yo)
Mr. David Robert Henry Attenborough, BSc, MBA has been the Managing Director and Chief Executive Officer of TabCorp Holdings Ltd. since June 2011. Mr. Attenborough served as the Managing Director of Wageri ...
CEO Compensation Analysis
Compensation vs Market: David Robert's total compensation ($USD3.15M) is above average for companies of similar size in the German market ($USD2.41M).
Compensation vs Earnings: David Robert's compensation has been consistent with company performance over the past year.
|MD, CEO & Executive Director||9.08yrs||AU$4.53m||0.060% A$2.4m|
|Managing Director of Wagering & Media||2.92yrs||AU$1.73m||0.0095% A$380.5k|
|Managing Director of Lotteries & Keno||2.58yrs||AU$1.18m||0.0039% A$157.3k|
|Chief Financial Officer||0.75yr||no data||no data|
|Chief Information Officer||0.17yr||no data||no data|
|General Manager of Investor Relations||no data||no data||no data|
|Group General Counsel & Additional Company Secretary||1.33yrs||no data||no data|
|General Manager of Corporate Communications||no data||no data||no data|
|Chief People Officer||0.42yr||no data||no data|
|Chief Risk Officer||4.5yrs||no data||no data|
|Chief Strategy Officer||3yrs||no data||no data|
|Chief Operating Officer of Gaming Services||0.42yr||no data||no data|
Experienced Management: THL's management team is not considered experienced ( 2 years average tenure), which suggests a new team.
|MD, CEO & Executive Director||9.08yrs||AU$4.53m||0.060% A$2.4m|
|Independent Non Executive Director||2.58yrs||AU$275.94k||0.0034% A$138.5k|
|Independent Non-Executive Director||3yrs||AU$291.00k||0.0049% A$197.9k|
|Independent Non Executive Director||8yrs||AU$273.20k||0.0021% A$83.1k|
|Independent Chairman of the Board||9.08yrs||AU$646.05k||0.0062% A$247.7k|
|Independent Non-Executive Director||3yrs||AU$284.70k||0.0025% A$99.1k|
|Independent Non-Executive Director||8.92yrs||AU$239.53k||0.0023% A$92.3k|
|Board Observer||0.42yr||no data||no data|
|Non-Executive Director||no data||no data||0.00017% A$6.8k|
Experienced Board: THL's board of directors are considered experienced (3 years average tenure).
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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Tabcorp Holdings Limited's company bio, employee growth, exchange listings and data sources
- Name: Tabcorp Holdings Limited
- Ticker: THL
- Exchange: DB
- Founded: 1994
- Industry: Casinos and Gaming
- Sector: Consumer Services
- Market Cap: AU$6.569b
- Listing Market Cap: AU$4.014b
- Shares outstanding: 2.03b
- Website: https://www.tabcorp.com.au
Number of Employees
- Tabcorp Holdings Limited
- Tower 2
- Level 21
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|TABC.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||Aug 1994|
|THL||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||Aug 1994|
|TAH||ASX (Australian Securities Exchange)||Yes||Ordinary Shares||AU||AUD||Aug 1994|
|TAH||CHIA (Chi-X Australia)||Yes||Ordinary Shares||AU||AUD||Aug 1994|
|TACB.Y||OTCPK (Pink Sheets LLC)||UNSPONSORD ADR||US||USD||May 2010|
Tabcorp Holdings Limited, together with its subsidiaries, provides gambling and entertainment services in Australia. It operates in three segments: Lotteries and Keno, Wagering and Media, and Gaming Services. The Lotteries and Keno segment operates lotteries and Kenos primarily under the Set for Life, Powerball, Oz Lotto, TattsLotto, Saturday Lotto, Gold Lotto, X Lotto, Monday and Wednesday Lotto, Lucky Lotteries, Lotto Strike, Super 66, and Keno brands. The Wagering and Media segment offers totalizator and fixed odds betting on racing, sports, and other events; and operates through a network of TAB agencies, hotels and clubs, and on-course operations, as well as through retail, Internet, mobile devices, and phone. It also provides Trackside, a computer simulate racing product; and international wagering and pooling services. In addition, this segment engages in the Three Sky Racing television channels broadcasting thoroughbred, harness and greyhound racing, and other sports to audiences in TAB outlets, hotels, clubs, and other licensed venues, as well as in-home to pay TV subscribers; operating Sky Sports Radio network; and advertising and sponsorship arrangement, and broadcasting racing activities. The Gaming Services segment offers electronic gaming machine (EGMs) monitoring and related services under the MAX Regulatory Services brand. It also provides gaming machine and systems supply and expertise; specialized services and strategic advice to licensed gaming venues; value-add services to venues, such as gaming and loyalty systems, business intelligence tools, linked jackpots, and cashless and ticket in ticket out services; and logistics, installation, and relocation services, as well as EGMs, lottery and wagering terminals, and other transaction device repair and maintenance services under the MAX Venue Services brand. The company was founded in 1994 and is based in Melbourne, Australia.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/14 21:37|
|End of Day Share Price||2020/07/14 00:00|
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.