NZSE:THL

Stock Analysis Report

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Executive Summary

Tourism Holdings Limited, together with its subsidiaries, operates as a tourism company in Australia, New Zealand, and the United States. More Details


Snowflake Analysis

Undervalued with moderate growth potential.


Similar Companies

Share Price & News

How has Tourism 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.


Market Performance


7 Day Return

-5.5%

THL

-4.4%

NZ Transportation

-2.7%

NZ Market


1 Year Return

-36.0%

THL

-7.2%

NZ Transportation

6.3%

NZ Market

Return vs Industry: THL underperformed the NZ Transportation industry which returned -7.2% over the past year.

Return vs Market: THL underperformed the NZ Market which returned 6.3% over the past year.


Shareholder returns

THLIndustryMarket
7 Day-5.5%-4.4%-2.7%
30 Day0.9%-5.2%3.3%
90 Day19.1%2.0%4.1%
1 Year-36.0%-36.0%-5.6%-7.2%10.5%6.3%
3 Year-49.9%-55.9%12.8%6.7%44.9%25.9%
5 Year30.7%1.4%39.6%26.7%95.4%47.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Tourism Holdings 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: THL (NZ$2.24) is trading below our estimate of fair value (NZ$21.51)

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 (12x) compared to the XX Transportation industry average (15.9x).

PE vs Market: THL is good value based on its PE Ratio (12x) compared to the NZ market (23x).


Price to Earnings Growth Ratio

PEG Ratio: THL is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: THL's PB Ratio (1x) is in line with the XX Transportation industry average.


Next Steps

Future Growth

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

26.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: THL's forecast earnings growth (26.6% per year) is above the savings rate (2.6%).

Earnings vs Market: THL's earnings (26.6% per year) are forecast to grow faster than the NZ market (11.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: THL's revenue (2.9% per year) is forecast to grow slower than the NZ market (5.5% per year).

High Growth Revenue: THL's revenue (2.9% 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 (9.3%).


Next Steps

Past Performance

How has Tourism Holdings performed over the past 5 years?

8.8%

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 lower than last year (7%).


Past Earnings Growth Analysis

Earnings Trend: THL's earnings have grown by 8.8% per year over the past 5 years.

Accelerating Growth: THL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: THL had negative earnings growth (-8%) over the past year, making it difficult to compare to the Transportation industry average (-13.9%).


Return on Equity

High ROE: THL's Return on Equity (8.4%) is considered low.


Next Steps

Financial Health

How is Tourism Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: THL's short term assets (NZ$136.6M) exceed its short term liabilities (NZ$69.5M).

Long Term Liabilities: THL's short term assets (NZ$136.6M) do not cover its long term liabilities (NZ$259.0M).


Debt to Equity History and Analysis

Debt Level: THL's debt to equity ratio (53.1%) is considered high.

Reducing Debt: THL's debt to equity ratio has increased from 42.4% to 53.1% over the past 5 years.

Debt Coverage: THL's debt is well covered by operating cash flow (40%).

Interest Coverage: THL's interest payments on its debt are well covered by EBIT (3.6x coverage).


Balance Sheet


Next Steps

Dividend

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

3.57%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate THL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if THL's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: THL is not paying a notable dividend for the NZ market.


Future Payout to Shareholders

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


Next Steps

Management

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

4.3yrs

Average management tenure


CEO

Grant Webster

11.83yrs

Tenure

NZ$875,723

Compensation

Mr. Grant Webster has been the Chief Executive Officer of Tourism Holdings Limited since December 2008 and served as its Chief Operating Officer of Attractions Division from 2005 to December 2008. Mr. Webs ...


CEO Compensation Analysis

Compensation vs Market: Grant's total compensation ($USD580.18K) is about average for companies of similar size in the NZ market ($USD578.45K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Grant Webster
Chief Executive Officer11.83yrsNZ$875.72k1.5%
NZ$ 5.0m
Steven Hall
GM of Finance & Acting CFO1yrno data0.0036%
NZ$ 11.9k
Nicholas Judd
Chief Financial Officerno datano data0.014%
NZ$ 44.8k
Matt Harvey
Chief Operating Officerno datano datano data
Brett Morris
General Manager of People3.75yrsno datano data
Kate Meldrum
Chief Operating Officer of Australiano datano data0.23%
NZ$ 761.6k
Grant Brady
Managing Director of Action Manufacturing LPno datano datano data
Gordon Hewston
Chief Operating Officer of Northern Hemisphereno datano datano data
Ollie Farnsworth
Chief Customer & Commercial Officerno datano datano data
Daniel Schneider
CEO and President of Road Bear RV Rentals & Salesno datano datano data
Hannes Rosskopf
President & GM of USA Operations - Road Bear RV4.75yrsno datano data

4.3yrs

Average Tenure

Experienced Management: THL's management team is considered experienced (4.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Rob Hamilton
Independent Director1.58yrsNZ$36.46k0.014%
NZ$ 47.3k
Gráinne Troute
Independent Non-Executive Director5.58yrsNZ$92.50k0.065%
NZ$ 214.7k
Robert Campbell
Independent Chairman7.17yrsNZ$166.67kno data
Debra Birch
Independent Non Executive Director4yrsNZ$83.33k0.021%
NZ$ 68.2k
Cathy Quinn
Independent Director3yrsNZ$84.17k0.023%
NZ$ 75.4k
Guorong Qian
Independent Director1.25yrsno datano data

3.5yrs

Average Tenure

Experienced Board: THL's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: THL insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Tourism Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tourism Holdings Limited
  • Ticker: THL
  • Exchange: NZSE
  • Founded: 1984
  • Industry: Trucking
  • Sector: Transportation
  • Market Cap: NZ$331.612m
  • Shares outstanding: 148.04m
  • Website: https://www.thlonline.com

Number of Employees


Location

  • Tourism Holdings Limited
  • The Beach House
  • Level 1
  • Auckland
  • 1010
  • New Zealand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
THLNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDJan 1992

Biography

Tourism Holdings Limited, together with its subsidiaries, operates as a tourism company in Australia, New Zealand, and the United States. The company operates through New Zealand Rentals, New Zealand Touri ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/31 10:45
End of Day Share Price2020/10/30 00:00
Earnings2020/06/30
Annual Earnings2020/06/30


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.