CPSE:TIV

Stock Analysis Report

Executive Summary

Tivoli A/S engages in entertainment and recreational activities.

Snowflake

Fundamentals

Acceptable track record with imperfect balance sheet.

Risks

  • Tivoli is not covered by any analysts.

Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.3%

CPSE:TIV

-2.2%

DK Hospitality

1.5%

DK Market


1 Year Return

-1.4%

CPSE:TIV

-12.1%

DK Hospitality

4.5%

DK Market

TIV outperformed the Hospitality industry which returned -12.1% over the past year.

TIV underperformed the Market in Denmark which returned 4.5% over the past year.


Share holder returns

TIVIndustryMarket
7 Day-0.3%-2.2%1.5%
30 Day-0.9%-2.9%1.7%
90 Day-1.4%-2.1%4.1%
1 Year-0.9%-1.4%-11.6%-12.1%7.7%4.5%
3 Year58.0%55.5%11.0%0.9%31.4%20.6%
5 Year119.5%113.9%48.3%25.3%67.2%42.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Tivoli undervalued based on future cash flows and its price relative to the stock market?

44.01x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Tivoli's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Tivoli's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Tivoli is overvalued based on earnings compared to the Europe Hospitality industry average.

Tivoli is overvalued based on earnings compared to the Denmark market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Tivoli, we can't assess if its growth is good value.


Price Based on Value of Assets

Tivoli is overvalued based on assets compared to the DK Hospitality industry average.


Next Steps

Future Growth

How is Tivoli expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

4.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if Tivoli is high growth as no revenue estimate data is available.

Tivoli's earnings are expected to grow by 4.6% yearly, however this is not considered high growth (20% yearly).

Unable to compare Tivoli's revenue growth to the Denmark market average as no estimate data is available.

Tivoli's earnings growth is positive but not above the Denmark market average.

Tivoli's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Tivoli will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Tivoli performed over the past 5 years?

19.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Tivoli's year on year earnings growth rate has been positive over the past 5 years.

Tivoli's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Tivoli's 1-year earnings growth is negative, it can't be compared to the Europe Hospitality industry average.


Return on Equity

Tivoli has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Tivoli used its assets more efficiently than the Europe Hospitality industry average last year based on Return on Assets.


Return on Capital Employed

Tivoli has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Tivoli's financial position?


Financial Position Analysis

Tivoli's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Tivoli's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Tivoli's level of debt (53.6%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (32.4% vs 53.6% today).

Debt is well covered by operating cash flow (46.1%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 10.9x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.3x debt.


Next Steps

Dividend

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

0.60%

Current Dividend Yield


Dividend Yield and Payments Analysis

Tivoli's pays a lower dividend yield than the bottom 25% of dividend payers in Denmark (1.75%).

Tivoli's dividend is below the markets top 25% of dividend payers in Denmark (5.01%).

Tivoli is not paying a notable dividend for Denmark, therefore no need to check if the payments are stable.

Tivoli is not paying a notable dividend for Denmark, therefore no need to check if the payments are increasing.


Current Payout to Shareholders

No need to calculate the sustainability of Tivoli's dividends as it is not paying a notable one for Denmark.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

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

9.6yrs

Average management tenure


CEO

Lars Liebst (63yo)

23.6yrs

Tenure

ø9,100,000

Compensation

Mr. Lars Liebst has been the Chief Executive Officer at Tivoli A/S since 1996 and also serves as its Member of Executive Board. Mr. Liebst serves as Chairman of the Supervisory Board at TV 2 | Danmark A/S  ...


CEO Compensation Analysis

Lars's remuneration is lower than average for companies of similar size in Denmark.

Lars's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

9.6yrs

Average Tenure

49yo

Average Age

The average tenure for the Tivoli management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

6.8yrs

Average Tenure

52yo

Average Age

The tenure for the Tivoli board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Lars Liebst (63yo)

    CEO & Member of Executive Board

    • Tenure: 23.6yrs
    • Compensation: ø9.10m
  • Dorthe Barsøe (53yo)

    Vice President of Brand & Communications

    • Tenure: 13.6yrs
  • Marie Collet

    Head of Project Management

    • Tenure: 7.5yrs
  • Frans Fossing (52yo)

    Director of Sponsors & Business Club

    • Tenure: 0.0yrs
  • Mogens Ramsløv (56yo)

    Vice President of Operations

    • Tenure: 9.6yrs
  • Maria Fergadis (40yo)

    F & B Manager

    • Tenure: 0.0yrs
  • Andreas Morthorst-Jensen (39yo)

    CFO & Member of Executive Board

    • Tenure: 3.9yrs
    • Compensation: ø4.10m
  • Torben Plank

    Head of Press

    • Tenure: 0.0yrs
  • Michala Svane (44yo)

    Vice President of Sales & Marketing

    • Tenure: 0.0yrs
  • Annette Juhl (46yo)

    Vice President of Law

    • Tenure: 0.0yrs

Board Members

  • Tom Knutzen (57yo)

    Chairman of Supervisory Board

    • Tenure: 1.3yrs
  • Ulla Brockenhuus-Schack (58yo)

    Member of Supervisory Board

    • Tenure: 10.6yrs
  • John Berthelsen (50yo)

    Member of Supervisory Board

    • Tenure: 11.6yrs
  • Mads Lebech (52yo)

    Deputy Chairman of Supervisory Board

    • Tenure: 9.6yrs
  • Tue Krogh-Lund (48yo)

    Member of Supervisory Board

    • Tenure: 4.0yrs
  • Claus Gregersen

    Member of Supervisory Board

    • Tenure: 1.3yrs

Company Information

Tivoli A/S's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tivoli A/S
  • Ticker: TIV
  • Exchange: CPSE
  • Founded: 1843
  • Industry: Leisure Facilities
  • Sector: Consumer Services
  • Market Cap: ø3.910b
  • Shares outstanding: 5.72m
  • Website: https://www.tivoli.dk

Number of Employees


Location

  • Tivoli A/S
  • Vesterbrogade 3
  • Copenhagen
  • Capital Region of Denmark
  • 1630
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TIVCPSE (OMX Nordic Exchange Copenhagen)YesPool SharesDKDKKJan 1992

Biography

Tivoli A/S engages in entertainment and recreational activities. The company operates and maintains gardens. The company offers rides, games, shows, events, and concerts. It also operates restaurants, as w ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/18 20:38
End of Day Share Price2019/08/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.