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TBL

Tanzania BreweriesDAR:TBL Stock Report

Market Cap

TSh3.2t

7D

0%

1Y

0%

Updated

20 Oct, 2021

Data

Company Financials +
TBL fundamental analysis
Snowflake Score
Valuation0/6
Future Growth3/6
Past Performance1/6
Financial Health6/6
Dividends3/6

TBL Overview

Tanzania Breweries Public Limited Company produces, distributes, and sells malt beer, non-alcoholic malt beverages, and alcoholic fruit beverages in Tanzania.

Price History & Performance

Summary of all time highs, changes and price drops for Tanzania Breweries
Historical stock prices
Current Share PriceTSh10,900.00
52 Week HighTSh10,400.00
52 Week LowTSh10,900.00
Beta-0.073
1 Month Change0%
3 Month Change0%
1 Year Change0%
3 Year Change-18.66%
5 Year Change-18.05%
Change since IPO498.90%

Recent News & Updates

Shareholder Returns

TBLTZ BeverageTZ Market
7D0%-0.2%-0.6%
1Y0%21.5%3.7%

Return vs Industry: TBL underperformed the TZ Beverage industry which returned 23.9% over the past year.

Return vs Market: TBL underperformed the TZ Market which returned 3.9% over the past year.

Price Volatility

Is TBL's price volatile compared to industry and market?
TBL volatility
TBL Beta-0.073
Industry Beta0.68
Market Beta1

Stable Share Price: TBL is less volatile than 75% of TZ stocks over the past 3 months, typically moving +/- 0% a week.

Volatility Over Time: TBL's weekly volatility (0%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a1,375Philip Redmanhttps://tanzaniabreweries.co.tz

Tanzania Breweries Public Limited Company produces, distributes, and sells malt beer, non-alcoholic malt beverages, and alcoholic fruit beverages in Tanzania. The company operates in two divisions, Beer, and Wines and Spirits. It primarily owns beer and liquor brands, including Safari Lager, Kilimanjaro Premium Lager, Ndovu Special Malt, and Konyagi.

Tanzania Breweries Fundamentals Summary

How do Tanzania Breweries's earnings and revenue compare to its market cap?
TBL fundamental statistics
Market CapTSh3.15t
Earnings (TTM)TSh79.81b
Revenue (TTM)TSh961.89b

39.5x

P/E Ratio

3.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TBL income statement (TTM)
RevenueTSh961.89b
Cost of RevenueTSh597.12b
Gross ProfitTSh364.77b
ExpensesTSh284.96b
EarningsTSh79.81b

Last Reported Earnings

Dec 31, 2020

Next Earnings Date

n/a

Earnings per share (EPS)275.99
Gross Margin37.92%
Net Profit Margin8.30%
Debt/Equity Ratio0%

How did TBL perform over the long term?

See historical performance and comparison

Dividends

2.8%

Current Dividend Yield

28%

Payout Ratio

Valuation

Is Tanzania Breweries undervalued compared to its fair value and its price relative to the market?

39.49x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TBL (TZS10900) is trading above our estimate of fair value (TZS5588.41)

Significantly Below Fair Value: TBL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TBL is poor value based on its PE Ratio (39.5x) compared to the African Beverage industry average (27.6x).

PE vs Market: TBL is poor value based on its PE Ratio (39.5x) compared to the TZ market (10.8x).


Price to Earnings Growth Ratio

PEG Ratio: TBL is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: TBL is overvalued based on its PB Ratio (5.4x) compared to the XF Beverage industry average (2.4x).


Future Growth

How is Tanzania Breweries forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

19.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TBL's forecast earnings growth (19.3% per year) is above the savings rate (9.1%).

Earnings vs Market: TBL's earnings (19.3% per year) are forecast to grow faster than the TZ market (13.5% per year).

High Growth Earnings: TBL's earnings are forecast to grow, but not significantly.

Revenue vs Market: TBL's revenue (5.6% per year) is forecast to grow slower than the TZ market (7% per year).

High Growth Revenue: TBL's revenue (5.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TBL's Return on Equity is forecast to be high in 3 years time (20%)


Past Performance

How has Tanzania Breweries performed over the past 5 years?

-15.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TBL has high quality earnings.

Growing Profit Margin: TBL's current net profit margins (8.3%) are lower than last year (19.1%).


Past Earnings Growth Analysis

Earnings Trend: TBL's earnings have declined by 15% per year over the past 5 years.

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

Earnings vs Industry: TBL had negative earnings growth (-44.4%) over the past year, making it difficult to compare to the Beverage industry average (19.7%).


Return on Equity

High ROE: TBL's Return on Equity (14.7%) is considered low.


Financial Health

How is Tanzania Breweries's financial position?


Financial Position Analysis

Short Term Liabilities: TBL's short term assets (TZS395.1B) exceed its short term liabilities (TZS291.7B).

Long Term Liabilities: TBL's short term assets (TZS395.1B) exceed its long term liabilities (TZS47.5B).


Debt to Equity History and Analysis

Debt Level: TBL is debt free.

Reducing Debt: TBL has no debt compared to 5 years ago when its debt to equity ratio was 4%.

Debt Coverage: TBL has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: TBL has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

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

2.75%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TBL's dividend (2.75%) is higher than the bottom 25% of dividend payers in the TZ market (1.97%).

High Dividend: TBL's dividend (2.75%) is low compared to the top 25% of dividend payers in the TZ market (8.19%).


Stability and Growth of Payments

Stable Dividend: TBL has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: TBL's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.8%), TBL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TBL's dividends in 3 years are forecast to be covered by earnings (74.6% payout ratio).


Next Steps

Management

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

6.5yrs

Average management tenure


CEO

Philip Redman (42 yo)

2.67yrs

Tenure

Mr. Philip Redman serves as the Managing Director and Director of Tanzania Breweries Limited since February 2019. He is representing AB Inbev Africa BV.


Leadership Team

Experienced Management: TBL's management team is seasoned and experienced (6.5 years average tenure).


Board Members

Experienced Board: TBL's board of directors are considered experienced (9 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

Tanzania Breweries Public Limited Company's employee growth, exchange listings and data sources


Key Information

  • Name: Tanzania Breweries Public Limited Company
  • Ticker: TBL
  • Exchange: DAR
  • Founded: NaN
  • Industry: Brewers
  • Sector: Food, Beverage & Tobacco
  • Market Cap: TSh3.152t
  • Shares outstanding: 289.16m
  • Website: https://tanzaniabreweries.co.tz

Number of Employees


Location

  • Tanzania Breweries Public Limited Company
  • Plot 79, Block 'AA'
  • Uhuru Street
  • Dar es Salaam
  • Tanzania

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/20 22:05
End of Day Share Price2021/10/20 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.