Tharisa
Market Cap
R7.1b
Last Updated
2021/01/21 17:01 UTC
Data Sources
Company Financials +
Executive Summary
Tharisa plc, an investment holding company, engages in the mining, processing, beneficiation, marketing, sale, and logistics of platinum group metals (PGM) and chrome concentrates in China, South Africa, Singapore, Hong Kong, the United Arab Emirates, and internationally. More Details
Rewards
Risk Analysis
No risks detected for THA from our risk checks.
Snowflake Analysis
Flawless balance sheet with solid track record.
Similar Companies
Share Price & News
How has Tharisa's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: THA is not significantly more volatile than the rest of ZA stocks over the past 3 months, typically moving +/- 8% a week.
Volatility Over Time: THA's weekly volatility (8%) has been stable over the past year.
Market Performance
7 Day Return
0.5%
THA
-1.3%
ZA Metals and Mining
2.0%
ZA Market
1 Year Return
77.0%
THA
38.9%
ZA Metals and Mining
1.2%
ZA Market
Return vs Industry: THA exceeded the ZA Metals and Mining industry which returned 38.9% over the past year.
Return vs Market: THA exceeded the ZA Market which returned 1.2% over the past year.
Shareholder returns
| THA | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.5% | -1.3% | 2.0% |
| 30 Day | 32.8% | 8.0% | 7.2% |
| 90 Day | 71.6% | 6.3% | 12.9% |
| 1 Year | 77.4%77.0% | 44.2%38.9% | 6.5%1.2% |
| 3 Year | 23.3%15.4% | 242.6%206.5% | 2.9%-17.9% |
| 5 Year | 615.5%563.8% | 376.2%301.0% | 51.0%8.9% |
Long-Term Price Volatility Vs. Market
How volatile is Tharisa's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Tharisa (JSE:THA) Has A Pretty Healthy Balance Sheet1 month ago | Simply Wall St
Why Tharisa's (JSE:THA) CEO Pay MattersValuation
Is Tharisa undervalued compared to its fair value and its price relative to the market?
10.98x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: THA (ZAR26.55) is trading above our estimate of fair value (ZAR10.71)
Significantly Below Fair Value: THA is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: THA is good value based on its PE Ratio (11x) compared to the ZA Metals and Mining industry average (15.5x).
PE vs Market: THA is good value based on its PE Ratio (11x) compared to the ZA market (13.6x).
Price to Earnings Growth Ratio
PEG Ratio: THA is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: THA is overvalued based on its PB Ratio (1.4x) compared to the ZA Metals and Mining industry average (1.2x).
Next Steps
Future Growth
How is Tharisa forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
10.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: THA's forecast earnings growth (10% per year) is above the savings rate (9.3%).
Earnings vs Market: THA's earnings (10% per year) are forecast to grow slower than the ZA market (29.7% per year).
High Growth Earnings: THA's earnings are forecast to grow, but not significantly.
Revenue vs Market: THA's revenue (10.4% per year) is forecast to grow slower than the ZA market (10.7% per year).
High Growth Revenue: THA's revenue (10.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: THA's Return on Equity is forecast to be low in 3 years time (15%).
Next Steps
Past Performance
How has Tharisa performed over the past 5 years?
7.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: THA has high quality earnings.
Growing Profit Margin: THA's current net profit margins (10.7%) are higher than last year (3.1%).
Past Earnings Growth Analysis
Earnings Trend: THA's earnings have grown by 7.5% per year over the past 5 years.
Accelerating Growth: THA's earnings growth over the past year (307.8%) exceeds its 5-year average (7.5% per year).
Earnings vs Industry: THA earnings growth over the past year (307.8%) exceeded the Metals and Mining industry 136.9%.
Return on Equity
High ROE: THA's Return on Equity (17.1%) is considered low.
Next Steps
Financial Health
How is Tharisa's financial position?
Financial Position Analysis
Short Term Liabilities: THA's short term assets ($208.0M) exceed its short term liabilities ($115.9M).
Long Term Liabilities: THA's short term assets ($208.0M) exceed its long term liabilities ($69.9M).
Debt to Equity History and Analysis
Debt Level: THA's debt to equity ratio (19.9%) is considered satisfactory.
Reducing Debt: THA's debt to equity ratio has reduced from 38.5% to 19.9% over the past 5 years.
Debt Coverage: THA's debt is well covered by operating cash flow (114.1%).
Interest Coverage: THA's interest payments on its debt are well covered by EBIT (20.1x coverage).
Balance Sheet
Next Steps
Dividend
What is Tharisa current dividend yield, its reliability and sustainability?
1.96%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: THA's dividend (1.96%) isn’t notable compared to the bottom 25% of dividend payers in the ZA market (2.98%).
High Dividend: THA's dividend (1.96%) is low compared to the top 25% of dividend payers in the ZA market (8.8%).
Stability and Growth of Payments
Stable Dividend: THA has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: THA has only been paying a dividend for 3 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (21.6%), THA's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: THA's dividends in 3 years are forecast to be well covered by earnings (20% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.8yrs
Average management tenure
CEO
Phoevos Pouroulis (45 yo)
10.25yrs
Tenure
US$706,000
Compensation
Mr. Phoevos Pouroulis, B.Sc. (Business Admin) has been the Chief Executive Officer at Tharisa Limited since June 29, 2017. Mr. Pouroulis serves as the Chief Executive Officer at Tharisa Plc and has been it...
CEO Compensation Analysis
Compensation vs Market: Phoevos's total compensation ($USD706.00K) is about average for companies of similar size in the ZA market ($USD666.28K).
Compensation vs Earnings: Phoevos's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board | 10.25yrs | US$906.00k | 0.30% $ 21.2m | |
| CEO & Director | 10.25yrs | US$706.00k | 2.84% $ 200.9m | |
| CFO & Director | 8yrs | US$551.00k | 0.21% $ 14.6m | |
| Chief Operating Officer | 5.25yrs | no data | 0.11% $ 7.9m | |
| Group Chief Technology Officer | 2.67yrs | no data | no data | |
| Head of Investor Relations & Communications | no data | no data | no data | |
| Executive Legal Counsel & Executive of Legal Affairs | 10.17yrs | no data | 0.11% $ 7.9m | |
| Managing Director of Arxo Metals | 8yrs | no data | no data | |
| Managing Director of Tharisa Minerals | 1yr | no data | no data | |
| Assistant Company Secretary | no data | no data | no data | |
| Company Secretary | no data | no data | no data |
7.8yrs
Average Tenure
57yo
Average Age
Experienced Management: THA's management team is seasoned and experienced (7.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board | 10.25yrs | US$906.00k | 0.30% $ 21.2m | |
| CEO & Director | 10.25yrs | US$706.00k | 2.84% $ 200.9m | |
| CFO & Director | 8yrs | US$551.00k | 0.21% $ 14.6m | |
| Independent Non-Executive Director | 3.58yrs | US$79.00k | no data | |
| Independent Non-Executive Director | 4.83yrs | US$97.00k | 0.020% $ 1.4m | |
| Independent Non-Executive Director | 6.58yrs | US$61.00k | no data | |
| Lead Independent Non-Executive Director | 7.92yrs | US$174.00k | no data | |
| Independent Non Executive Director | 9.25yrs | US$129.00k | 0.020% $ 1.4m | |
| Non-Executive Director | 2.75yrs | US$43.00k | no data | |
| Non-Independent Non-Executive Director | 0.33yr | US$2.00k | no data |
7.3yrs
Average Tenure
61yo
Average Age
Experienced Board: THA's board of directors are considered experienced (7.3 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Tharisa plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Tharisa plc
- Ticker: THA
- Exchange: JSE
- Founded: 2008
- Industry: Precious Metals and Minerals
- Sector: Materials
- Market Cap: R7.074b
- Shares outstanding: 268.48m
- Website: https://www.tharisa.com
Number of Employees
Location
- Tharisa plc
- Sofoklis Pittokopitis Business Centre
- Offices 108-110
- Paphos
- 8011
- Cyprus
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| THA | JSE (The Johannesburg Securities Exchange) | Yes | Ordinary Shares | ZA | ZAR | Apr 2014 |
| THS | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | Apr 2014 |
| TIHR.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Apr 2014 |
| 7YZ | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Apr 2014 |
Biography
Tharisa plc, an investment holding company, engages in the mining, processing, beneficiation, marketing, sale, and logistics of platinum group metals (PGM) and chrome concentrates in China, South Africa, S...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/21 17:01 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2020/09/30 |
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.