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Thomas Cook Group

LSE:TCG
Snowflake Description

Reasonable growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TCG
LSE
£199M
Market Cap
  1. Home
  2. GB
  3. Consumer Services
Company description

Thomas Cook Group plc provides travel services in the United Kingdom, Continental Europe, and Northern Europe. The last earnings update was 8 days ago. More info.


Add to Portfolio Compare Print
  • Thomas Cook Group has significant price volatility in the past 3 months.
TCG Share Price and Events
7 Day Returns
10.2%
LSE:TCG
-0.5%
GB Hospitality
-1.3%
GB Market
1 Year Returns
-88.9%
LSE:TCG
-8.6%
GB Hospitality
-5.9%
GB Market
TCG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Thomas Cook Group (TCG) 10.2% -52.7% -54.4% -88.9% -83% -92.1%
GB Hospitality -0.5% -0.9% -3% -8.6% 10.8% 28.3%
GB Market -1.3% -3.3% 0.8% -5.9% 12.6% 0.4%
1 Year Return vs Industry and Market
  • TCG underperformed the Hospitality industry which returned -8.6% over the past year.
  • TCG underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5.9% over the past year.
Price Volatility
TCG
Industry
5yr Volatility vs Market

TCG Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Thomas Cook Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Thomas Cook Group.

LSE:TCG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.5%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:TCG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.917 (1 + (1- 19%) (968.54%))
5.766
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (2 * 6.65%)
14.53%

Discounted Cash Flow Calculation for LSE:TCG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Thomas Cook Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

LSE:TCG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 14.53%)
2019 -201.60 Analyst x3 -176.03
2020 65.48 Analyst x4 49.92
2021 101.07 Analyst x3 67.28
2022 160.00 Analyst x1 93.00
2023 176.00 Analyst x1 89.33
2024 188.39 Est @ 7.04% 83.48
2025 198.37 Est @ 5.3% 76.76
2026 206.45 Est @ 4.07% 69.75
2027 213.10 Est @ 3.22% 62.86
2028 218.69 Est @ 2.62% 56.33
Present value of next 10 years cash flows £472.68
LSE:TCG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £218.69 × (1 + 1.23%) ÷ (14.53% – 1.23%)
£1,664.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,664.43 ÷ (1 + 14.53%)10
£428.73
LSE:TCG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £472.68 + £428.73
£901.41
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £901.41 / 1,533.63
£0.59
LSE:TCG Discount to Share Price
Calculation Result
Value per share (GBP) From above. £0.59
Current discount Discount to share price of £0.13
= -1 x (£0.13 - £0.59) / £0.59
77.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Thomas Cook Group is available for.
Intrinsic value
>50%
Share price is £0.13 vs Future cash flow value of £0.58777
Current Discount Checks
For Thomas Cook Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Thomas Cook Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Thomas Cook Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Thomas Cook Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Thomas Cook Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:TCG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in GBP £-0.90
LSE:TCG Share Price ** LSE (2019-05-24) in GBP £0.13
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PE Ratio Median Figure of 34 Publicly-Listed Hospitality Companies 18.43x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 789 Publicly-Listed Companies 16.18x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Thomas Cook Group.

LSE:TCG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:TCG Share Price ÷ EPS (both in GBP)

= 0.13 ÷ -0.90

-0.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thomas Cook Group is loss making, we can't compare its value to the GB Hospitality industry average.
  • Thomas Cook Group is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Thomas Cook Group's expected growth come at a high price?
Raw Data
LSE:TCG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
69.6%per year
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PEG Ratio Median Figure of 28 Publicly-Listed Hospitality Companies 2.05x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 574 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Thomas Cook Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Thomas Cook Group's assets?
Raw Data
LSE:TCG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in GBP £-0.88
LSE:TCG Share Price * LSE (2019-05-24) in GBP £0.13
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PB Ratio Median Figure of 54 Publicly-Listed Hospitality Companies 1.33x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,369 Publicly-Listed Companies 1.48x
LSE:TCG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:TCG Share Price ÷ Book Value per Share (both in GBP)

= 0.13 ÷ -0.88

-0.15x

* Primary Listing of Thomas Cook Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thomas Cook Group has negative assets, we can't compare the value of its assets to the GB Hospitality industry average.
X
Value checks
We assess Thomas Cook Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Thomas Cook Group has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TCG Future Performance

 How is Thomas Cook Group expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
69.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Thomas Cook Group expected to grow at an attractive rate?
  • Thomas Cook Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Thomas Cook Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Thomas Cook Group's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:TCG Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:TCG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 69.6%
LSE:TCG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 2.1%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 12%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.8%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:TCG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:TCG Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-09-30 10,124 3
2022-09-30 9,951 414 4
2021-09-30 9,659 353 70 10
2020-09-30 9,525 395 14 12
2019-09-30 9,272 376 -31 11
LSE:TCG Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-03-31 9,376 30 -1,383
2018-12-31 9,480 85 -773
2018-09-30 9,584 139 -163
2018-06-30 9,412 257 -70
2018-03-31 9,239 374 23
2017-12-31 9,123 435 17
2017-09-30 9,006 496 10
2017-06-30 8,569 465 6
2017-03-31 8,132 434 2
2016-12-31 7,971 415 3
2016-09-30 7,810 395 4
2016-06-30 7,787 340 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Thomas Cook Group's earnings are expected to grow significantly at over 20% yearly.
  • Thomas Cook Group's revenue is expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:TCG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Thomas Cook Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:TCG Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-09-30
2022-09-30
2021-09-30 0.04 0.08 0.03 3.00
2020-09-30 0.00 0.02 -0.03 6.00
2019-09-30 -0.02 -0.02 -0.03 3.00
LSE:TCG Past Financials Data
Date (Data in GBP Millions) EPS *
2019-03-31 -0.90
2018-12-31 -0.50
2018-09-30 -0.11
2018-06-30 -0.05
2018-03-31 0.02
2017-12-31 0.01
2017-09-30 0.01
2017-06-30 0.00
2017-03-31 0.00
2016-12-31 0.00
2016-09-30 0.00
2016-06-30 0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Thomas Cook Group is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Thomas Cook Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Thomas Cook Group has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TCG Past Performance

  How has Thomas Cook Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Thomas Cook Group's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Thomas Cook Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Thomas Cook Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Thomas Cook Group's 1-year growth to the GB Hospitality industry average as it is not currently profitable.
Earnings and Revenue History
Thomas Cook Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Thomas Cook Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:TCG Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 9,376.00 -1,383.00 1,493.00
2018-12-31 9,480.00 -773.00 1,493.50
2018-09-30 9,584.00 -163.00 1,494.00
2018-06-30 9,411.50 -70.00 1,486.00
2018-03-31 9,239.00 23.00 1,478.00
2017-12-31 9,122.50 16.50 1,464.00
2017-09-30 9,006.00 10.00 1,450.00
2017-06-30 8,569.00 6.00 1,417.00
2017-03-31 8,132.00 2.00 1,384.00
2016-12-31 7,971.00 3.00 1,357.00
2016-09-30 7,810.00 4.00 1,330.00
2016-06-30 7,787.00 32.00 1,300.50
2016-03-31 7,764.00 60.00 1,271.00
2015-12-31 7,799.00 41.50 1,286.50
2015-09-30 7,834.00 23.00 1,302.00
2015-06-30 8,076.50 -16.50 1,326.50
2015-03-31 8,319.00 -56.00 1,351.00
2014-12-31 8,453.50 -87.00 1,393.00
2014-09-30 8,588.00 -118.00 1,435.00
2014-06-30 8,844.85 -220.25 1,491.45
2014-03-31 9,101.70 -322.50 1,547.90
2013-12-31 9,208.35 -263.75 1,539.45
2013-09-30 9,315.00 -205.00 1,531.00
2013-06-30 9,212.10 -211.25 1,507.40
2013-03-31 9,109.20 -217.50 1,483.80
2012-12-31 9,152.10 -327.00 1,541.10
2012-09-30 9,195.00 -436.50 1,598.40
2012-06-30 9,441.40 -610.95 1,662.45

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Thomas Cook Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • It is difficult to establish if Thomas Cook Group has efficiently used its assets last year compared to the GB Hospitality industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Thomas Cook Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Thomas Cook Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Thomas Cook Group has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TCG Health

 How is Thomas Cook Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Thomas Cook Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Thomas Cook Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Thomas Cook Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Thomas Cook Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Thomas Cook Group has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Thomas Cook Group Company Filings, last reported 1 month ago.

LSE:TCG Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 -1,345.00 1,931.00 688.00
2018-12-31 -1,345.00 1,931.00 688.00
2018-09-30 291.00 1,428.00 1,417.00
2018-06-30 291.00 1,428.00 1,417.00
2018-03-31 35.00 1,502.00 624.00
2017-12-31 35.00 1,502.00 624.00
2017-09-30 256.00 1,446.00 1,798.00
2017-06-30 256.00 1,446.00 1,798.00
2017-03-31 136.00 1,412.00 619.00
2016-12-31 136.00 1,412.00 619.00
2016-09-30 326.00 1,921.00 2,116.00
2016-06-30 326.00 1,921.00 2,116.00
2016-03-31 59.00 1,440.00 615.00
2015-12-31 59.00 1,440.00 615.00
2015-09-30 368.00 1,440.00 1,618.00
2015-06-30 368.00 1,440.00 1,618.00
2015-03-31 -131.00 1,570.00 871.00
2014-12-31 -131.00 1,570.00 871.00
2014-09-30 285.00 1,345.00 1,409.00
2014-06-30 285.00 1,345.00 1,409.00
2014-03-31 117.80 1,426.00 614.70
2013-12-31 117.80 1,426.00 614.70
2013-09-30 548.00 1,516.00 1,533.00
2013-06-30 548.00 1,516.00 1,533.00
2013-03-31 275.90 1,563.00 295.50
2012-12-31 275.90 1,563.00 295.50
2012-09-30 457.90 1,248.60 955.60
2012-06-30 457.90 1,248.60 955.60
  • Thomas Cook Group has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Thomas Cook Group's debt level has increased considering it has negative shareholder equity.
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.

  • Information is not available.
  • Unable to confirm if Thomas Cook Group has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Thomas Cook Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Thomas Cook Group has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TCG Dividends

 What is Thomas Cook Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Thomas Cook Group dividends. Estimated to be 1.9% next year.
If you bought £2,000 of Thomas Cook Group shares you are expected to receive £0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Thomas Cook Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Thomas Cook Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:TCG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 706 Stocks 4.3%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:TCG Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-09-30 0.00 1.00
2022-09-30 0.01 3.00
2021-09-30 0.00 9.00
2020-09-30 0.00 13.00
2019-09-30 0.00 10.00
LSE:TCG Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-05-16 0.000 0.000
2018-11-29 0.000 0.000
2018-11-27 0.000 0.000
2017-11-23 0.006 0.674
2017-11-22 0.006 0.538
2016-11-28 0.005 0.511
2016-11-23 0.005 0.620
2013-02-08 0.000 0.000
2013-01-03 0.000 0.000
2012-11-28 0.000 0.000
2012-08-02 0.000 0.000
2012-05-31 0.000 0.000
2012-02-09 0.000 0.000
2011-12-14 0.000 0.000
2010-12-01 0.108 16.387
2010-11-30 0.108 5.905
2009-11-30 0.108 5.151

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Thomas Cook Group has not reported any payouts.
  • Unable to verify if Thomas Cook Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Thomas Cook Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Thomas Cook Group has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (10.3x coverage).
X
Income/ dividend checks
We assess Thomas Cook Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Thomas Cook Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Thomas Cook Group has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TCG Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Fankhauser
COMPENSATION £1,024,000
AGE 58
TENURE AS CEO 4.5 years
CEO Bio

Dr. Peter Fankhauser has been the Chief Executive Officer and Executive Director of Thomas Cook Group plc since November 26, 2014 and also has been its Chairman of Management Board and Chief Executive Officer of Germany, Austria and Switzerland since July 1, 2008. Dr. Fankhauser served as Group Chief Operating Officer of Thomas Cook Group plc since November 2013 and also served as its Chief Executive Officer of its UK & Continental Europe until November 2013, Chief Executive Officer of Continental Europe, Chief Executive Officer of Central Europe and Member of Executive and Digital Advisory Board. He served as the Chief Executive Officer of Continental Europe and Head of Travel Product of Thomas Cook AG (formerly C&N Touristic AG) and served as its Member of Executive Board/Member of the Management Board and in charge of the Tourism Product since May 1, 2001 and was in charge of the sales markets Germany and West and East Europe. He was responsible for the German sales market as well as the Western and Eastern European markets. In January 1989, he joined the Swiss travel group Reisebüro Kuoni AG in Zurich, where he was first employed as a Staff Member and later as the Head of Corporate Development staff department in the rank of a Deputy Director. In February 1990, he was put in charge of Sales Switzerland and was appointed a Director at the same time and in this position, he was responsible for the business units reselling and business trips in the Swiss market. In 1994, he served as the Chief Executive Officer of Kuoni Fernreisen GmbH in Frankfurt, where he was entrusted with the creation of a Joint Venture with the then main shareholder ITS. Since April 1995, he served as Director General and Member of Group Management of Kuoni Reisen Holding AG in Zurich, where he was in charge of the management of the European Division with the responsibility for six subsidiaries in Europe as well as the further expansion of the European markets. Since 2003, he served as the Chief Product Officer of Thomas Cook and Chief Executive Officer of Thomas Cook Tour Operators Germany. From August 1996 to December 1998, along with managing the European Division of Kuoni Reisen Holding AG, he assumed responsibility for the management of the overseas business. As a result he became in charge of all subsidiaries of Kuoni Reisen Holding AG outside Switzerland and the United Kingdom. In January 1999, he moved to the LTU Group in Düsseldorf as their Chief Executive Officer. He served as the Head of the Courses and Conferences Department of the Institute for Business Administration at the Hochschule St. Gallen. He served as a Part-Time Teacher at the Gewerbliche Berufsschule (vocational college) St. Gallen from 1981 to 1985. He served as a Member of the faculty of the Schweizerischen Kurse für Unternehmensführung (Swiss Courses in Corporate Management). He served as the Chairman of Supervisory Board and Member of Supervisory Board of IFA Hotel & Touristik Aktiengesellschaft. He served as a Director of Thomas Cook Finance plc since June 28, 2016 until February 8, 2018. He served as a Director of Thomas Cook AG. In the spring of 1989, he acquired his Doctorate at the Hochschule St. Gallen. The foundation for his professional career was laid by Dr. Fankhauser from 1979 onwards when he started his higher educational studies in International Relations. These were followed from 1985 to 1986 by studies for his Doctoral Degree.

CEO Compensation
  • Peter's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Peter's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure of the Thomas Cook Group management team in years:

4.5
Average Tenure
  • The tenure for the Thomas Cook Group management team is about average.
Management Team

Peter Fankhauser

TITLE
CEO & Executive Director
COMPENSATION
£1M
AGE
58
TENURE
4.5 yrs

Sten Daugaard

TITLE
Group CFO & Executive Director
AGE
61
TENURE
0.4 yrs

Neil Dudleston

TITLE
Chief Information Security Officer

James Sandford

TITLE
Group Head of Investor Relations

Alice Marsden

TITLE
Group General Counsel & Company Secretary
TENURE
3.3 yrs

Ong-Seng Nick

TITLE
Thomas Cook Money Risk & Compliance Director

Matthew Magee

TITLE
Head of Corporate Communications

Julie Armstrong

TITLE
Group HR Director

Christoph Debus

TITLE
Chief Air Travel & Hotels Officer
TENURE
6.7 yrs

Tim Van Genechten

TITLE
Group Head of Brand & Strategic Marketing
TENURE
4.6 yrs
Board of Directors Tenure

Average tenure and age of the Thomas Cook Group board of directors in years:

4.5
Average Tenure
59.5
Average Age
  • The tenure for the Thomas Cook Group board of directors is about average.
Board of Directors

Frank L. Meysman

TITLE
Non-Executive Chairman
COMPENSATION
£307K
AGE
66
TENURE
7.4 yrs

Peter Fankhauser

TITLE
CEO & Executive Director
COMPENSATION
£1M
AGE
58
TENURE
4.5 yrs

Sten Daugaard

TITLE
Group CFO & Executive Director
AGE
61
TENURE
0.4 yrs

Martine Verluyten

TITLE
Independent Non-Executive Director
COMPENSATION
£89K
AGE
67
TENURE
8 yrs

Emre Berkin

TITLE
Independent Non-Executive Director
COMPENSATION
£84K
AGE
57
TENURE
6.5 yrs

Lesley Mary Knox

TITLE
Senior Independent Director
COMPENSATION
£61K
AGE
65
TENURE
0.1 yrs

Dawn Airey

TITLE
Independent Non-Executive Director
COMPENSATION
£106K
AGE
58
TENURE
9.1 yrs

Jürgen Schreiber

TITLE
Independent Non-Executive Director
COMPENSATION
£60K
AGE
56
TENURE
1.8 yrs

Paul Edgecliffe-Johnson

TITLE
Independent Non-Executive Director
COMPENSATION
£63K
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
17. Dec 18 Buy Peter Fankhauser Individual 14. Dec 18 14. Dec 18 172,117 £0.29 £50,000
06. Dec 18 Buy Antoinette Aris Individual 06. Dec 18 06. Dec 18 60,104 £0.35 £21,301
05. Dec 18 Buy Lesley Mary Knox Individual 04. Dec 18 04. Dec 18 208,778 £0.23 £47,164
05. Dec 18 Buy Frank L. Meysman Individual 04. Dec 18 04. Dec 18 373,000 £0.22 £80,456
26. Sep 18 Buy Frank L. Meysman Individual 25. Sep 18 25. Sep 18 150,000 £0.60 £89,495
X
Management checks
We assess Thomas Cook Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Thomas Cook Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TCG News

Simply Wall St News

Those Who Purchased Thomas Cook Group (LON:TCG) Shares Five Years Ago Have A 82% Loss To Show For It

Thomas Cook Group plc (LON:TCG) shareholders should be happy to see the share price up 18% in the last month. … Like a ship taking on water, the share price has sunk 82% in that time. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

Simply Wall St -

Is Thomas Cook Group plc's (LON:TCG) CEO Pay Fair?

Peter Fankhauser became the CEO of Thomas Cook Group plc (LON:TCG) in 2014. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Peter Fankhauser's Compensation Compare With Similar Sized Companies?

Simply Wall St -

An Intrinsic Calculation For Thomas Cook Group plc (LON:TCG) Shows It's 49.37% Undervalued

I am going to run you through how I calculated the intrinsic value of Thomas Cook Group plc (LON:TCG). … by taking the foreast future cash flows of the company and discounting them back to today's value. … If you are reading this and its not January 2019 then I highly recommend you check out the latest calculation for Thomas Cook Group by following the link below

Simply Wall St -

Who Has Been Buying Thomas Cook Group plc (LON:TCG) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Thomas Cook Group plc (LON:TCG). … The Last 12 Months Of Insider Transactions At Thomas Cook Group. … Peter Fankhauser was the only individual insider to sell shares in the last twelve months

Simply Wall St -

A Holistic Look At Thomas Cook Group plc (LON:TCG)

Thomas Cook Group plc (LON:TCG) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of TCG, it

Simply Wall St -

Why Thomas Cook Group plc's (LON:TCG) CEO Salary Matters To You

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Peter Fankhauser's Compensation Compare With Similar Sized Companies. … According to our data, Thomas Cook Group plc has a market capitalization of UK£621m, and pays its CEO total annual compensation worth UK£2m.

Simply Wall St -

Thomas Cook Group plc (LON:TCG): Did It Outperform The Industry?

Investors with a long-term horizong may find it valuable to assess Thomas Cook Group plc's (LON:TCG) earnings trend over time and against its industry benchmark as opposed to simply looking at a sincle earnings announcement at one point in time. … Below is my commentary, albiet very simple and high-level, on how Thomas Cook Group is currently performing. … Did TCG's recent earnings growth beat the long-term trend and the industry.

Simply Wall St -

Who Owns Thomas Cook Group plc (LON:TCG)?

In this article, I'm going to take a look at Thomas Cook Group plc’s (LON:TCG) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … Check out our latest analysis for Thomas Cook Group

Simply Wall St -

Thomas Cook Group plc (LON:TCG): Assessing Capital Returns

and want a simplistic look at the return on Thomas Cook Group plc (LON:TCG) stock. … Therefore, looking at how efficiently Thomas Cook Group is able to use capital to create earnings will help us understand your potential return. … Thomas Cook Group's Return On Capital Employed

Simply Wall St -

Is There An Opportunity With Thomas Cook Group plc's (LON:TCG) 49.66% Undervaluation?

I am going to run you through how I calculated the intrinsic value of Thomas Cook Group plc (LON:TCG). … by estimating the company's future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

TCG Company Info

Description

Thomas Cook Group plc provides travel services in the United Kingdom, Continental Europe, and Northern Europe. The company operates through Group Tour Operator and Group Airline segments. It owns, manages, or franchises 270 hotels primarily under the Casa Cook, Cook’s Club, and Sunwing brands. As of December 12, 2018, the company operated an airline fleet of 101 aircrafts to 120 destinations. Thomas Cook Group plc was founded in 1841 and is based in London, the United Kingdom.

Details
Name: Thomas Cook Group plc
TCG
Exchange: LSE
Founded: 1841
£199,372,019
1,533,630,922
Website: http://www.thomascookgroup.com
Address: Thomas Cook Group plc
South Building,
3rd Floor,
London,
Greater London, EC1A 4HD,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE TCG Bearer Shares London Stock Exchange GB GBP 19. Jun 2007
OTCPK TCKG.F Bearer Shares Pink Sheets LLC US USD 19. Jun 2007
DB TCG Bearer Shares Deutsche Boerse AG DE EUR 19. Jun 2007
BATS-CHIXE TCGL Bearer Shares BATS 'Chi-X Europe' GB GBP 19. Jun 2007
OTCPK TCKG.Y UNSPONSORED ADR Pink Sheets LLC US USD 21. Oct 2008
Number of employees
Current staff
Staff numbers
21,000
Thomas Cook Group employees.
Industry
Hotels, Resorts and Cruise Lines
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 21:06
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/24
Last earnings filing: 2019/05/16
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.