CPSE:TIV

Stock Analysis Report

Executive Summary

Tivoli A/S engages in entertainment and recreational activities.


Snowflake Analysis

Proven track record with mediocre balance sheet.


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

Stable Share Price: TIV has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

TIV

1.1%

DK Hospitality

3.5%

DK Market


1 Year Return

-7.9%

TIV

-30.7%

DK Hospitality

3.1%

DK Market

Return vs Industry: TIV exceeded the Danish Hospitality industry which returned -30.7% over the past year.

Return vs Market: TIV underperformed the Danish Market which returned 3.1% over the past year.


Shareholder returns

TIVIndustryMarket
7 Day0%1.1%3.5%
30 Day-14.6%-13.3%-9.7%
90 Day-9.7%-37.9%-7.4%
1 Year-7.3%-7.9%-28.7%-30.7%5.3%3.1%
3 Year6.0%4.3%-26.1%-33.0%33.8%22.5%
5 Year77.9%73.3%-16.5%-29.4%27.2%10.9%

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 compared to its fair value and its price relative to the market?

21.51x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TIV's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TIV's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TIV is poor value based on its PE Ratio (21.5x) compared to the Hospitality industry average (13.1x).

PE vs Market: TIV is poor value based on its PE Ratio (21.5x) compared to the Danish market (12.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: TIV is overvalued based on its PB Ratio (3.4x) compared to the DK Hospitality industry average (2.4x).


Next Steps

Future Growth

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

17.1%

Forecasted Consumer Services 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 Tivoli 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 Tivoli performed over the past 5 years?

26.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TIV has a large one-off gain of DKK118.5M impacting its December 31 2019 financial results.

Growing Profit Margin: TIV's current net profit margins (15.9%) are higher than last year (8.9%).


Past Earnings Growth Analysis

Earnings Trend: TIV's earnings have grown significantly by 26.7% per year over the past 5 years.

Accelerating Growth: TIV's earnings growth over the past year (77.7%) exceeds its 5-year average (26.7% per year).

Earnings vs Industry: TIV earnings growth over the past year (77.7%) exceeded the Hospitality industry 0.2%.


Return on Equity

High ROE: TIV's Return on Equity (15.9%) is considered low.


Next Steps

Financial Health

How is Tivoli's financial position?


Financial Position Analysis

Short Term Liabilities: TIV's short term assets (DKK259.4M) do not cover its short term liabilities (DKK339.3M).

Long Term Liabilities: TIV's short term assets (DKK259.4M) do not cover its long term liabilities (DKK428.4M).


Debt to Equity History and Analysis

Debt Level: TIV's debt to equity ratio (38.7%) is considered satisfactory.

Reducing Debt: TIV's debt to equity ratio has increased from 15.1% to 38.7% over the past 5 years.

Debt Coverage: TIV's debt is well covered by operating cash flow (46.6%).

Interest Coverage: TIV's interest payments on its debt are well covered by EBIT (8.8x coverage).


Balance Sheet

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

Debt Coverage by Assets: TIV's debt is not covered by short term assets (assets are 0.6x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

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

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

Growing Dividend: Insufficient data to determine if TIV's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: TIV is not paying a notable dividend for the Danish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TIV's dividend in 3 years as they are not forecast to pay a notable one for the Danish market.


Next Steps

Management

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

4.6yrs

Average management tenure


CEO

Lars Liebst (63yo)

23.75s

Tenure

ø10,800,000

Compensation

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


CEO Compensation Analysis

Compensation vs Market: Lars's total compensation ($USD1.56M) is above average for companies of similar size in the Danish market ($USD916.03K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Lars Liebst
Chief Executive Officer23.75yrsø10.80mno data
Andreas Morthorst-Jensen
Chief Financial Officer4.58yrsø5.40mno data
Annette Juhl
Vice President of Legalno datano datano data
Finn Sørensen
Head of Communicationsno datano datano data
Michala Svane
Senior Vice President of Sales & Marketingno datano datano data
Dorthe Dinesen
HR Directorno datano datano data
Kasper Schumacher
Executive Vice President0.083yrno datano data
Marie Collet
Head of Project Management8.17yrsno datano data
Torben Plank
Head of Pressno datano datano data
Jonas Gregersen
Senior Vice President of IT & Business Development2.25yrsno datano data

4.6yrs

Average Tenure

46yo

Average Age

Experienced Management: TIV's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tom Knutzen
Chairman of Supervisory Board2yrsno datano data
Ulla Brockenhuus-Schack
Independent Member of Supervisory Board11.25yrsno datano data
John Berthelsen
Member of Supervisory Board12.25yrsno datano data
Mads Lebech
Independent Deputy Chairman of Supervisory Board10.25yrsno datano data
Tue Krogh-Lund
Member of Supervisory Board4.67yrsno datano data
Claus Gregersen
Member of Supervisory Board2yrsno datano data

7.5yrs

Average Tenure

54.5yo

Average Age

Experienced Board: TIV's board of directors are considered experienced (7.5 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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: ø3.579b
  • 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
0RFRLSE (London Stock Exchange)YesPool SharesGBDKKJan 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 well as online casino through Danske Spi. Tivoli A/S was founded in 1843 and is based in Copenhagen, Denmark. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 20:34
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.