Corporate Travel Management Limited (CTD)
Views and News
Essentials
Half-year Performance & Estimates - CTD
| Year-end June | 1H12A | FY12A | 1H13A | FY13A | 1H14A | FY14E | FY15E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 29.2 | 64.7 | 38.6 | 78.4 | 43.2 | 110.0 | 162.0 |
| EBITDA, $m | 7.4 | 17.6 | 9.3 | 20.7 | 9.3 | 28.0 | 39.9 |
| EBIT, $m | 6.8 | 16.2 | 8.3 | 18.7 | 8.0 | 25.1 | 36.3 |
| Report NPAT, $m | 4.7 | 11.4 | 5.8 | 13.1 | 5.6 | ||
| Adj. NPAT, $m | 5.6 | 18.0 | 25.4 | ||||
| Reported EPS, ¢ | 7.00 | 16.00 | 8.00 | 17.00 | 7.00 | ||
| Adjusted EPS, ¢ | 7.00 | 21.75 | 28.25 | ||||
| EPS %FY/Growth | 44% | 47% | 6% | -13% | 28% | 30% | |
| Dividend, ¢ | 3.0 | 9.0 | 4.0 | 10.5 | 4.5 | 12.00 | 15.65 |
| Franking, % | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| EBITDA Margin | 0 | 27% | 24% | 26% | 22% | 25.5% | 24.6% |
| NPAT Margin | 0 | 18% | 15% | 17% | 13% | 16.4% | 15.7% |
| ROE, % | 0 | 21% | 10% | 18% | 8% | ||
| EBIT/Interest | 0.0 | -77.8 | 48.0 | 35.6 | -152.9 | ||
| Net Debt / Equity | 0 | -0.21 | -0.06 | -0.14 | -0.13 | ||
| CashFlow/Sh, ¢ | 3.9 | 10.3 | 8.7 | 21.1 | 9.6 | 24.1 | 32.6 |
| Y/E Shares, m | 71.5 | 74.8 | 75.0 | 78.1 | 78.3 |
| Notes |
| Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns except the first half years which show their percentage of full year EPS. In a handful of cases, unadjusted share splits, or changes between positive and negative values, may give strange changes in ratios. |
Recent News Highlights
Russell Research in the Media
Stock Picks for The Bull.com.au - 29 July 2013
HOLD Corporate Travel Management (CTD)
With no net debt and a 30 per cent return on equity, we expect earnings per share growth above 20 per cent in financial year 2014, with a 3 per cent yield. Two recent US acquisitions could replicate the systems that have won 9 per cent of domestic corporate travel. Accumulate.
Stock Picks for Sunday Herald Sun – 30 June 2013
BUY Corporate Travel Management Limited, CTD, $4.10
With a rapidly won 9 per cent of domestic corporate travel, two careful US acquisitions could replicate its systems and growth. Expect 3 percent yield, too.
Company Overview
Profile
Corporate Travel Management
Rating:
Category: Potent Stock ; Midcaps
Action:
Website: www.travelctm.com
| ASX code: | CTD |
| Closing Price, 20/06/14: | $ 6.390 |
| Market Capitalisation: | $ 574 million |
| 52 Week High: | $ 6.69 |
| 52 Week Low: | $ 3.764 |
| Sector: | Hotels, Resorts & Cruise Lines |
| Index: | S&P/ASX 300 Index |
Summary of Fundamentals
| Year-end June | FY12A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | 11.4 | 13.1 | 18.0 | 25.4 |
| Reported EPS, ¢ | 16.00 | 17.00 | ||
| Adjusted EPS, ¢ | 13.10 | 21.75 | 28.25 | |
| EPS Growth, % | 14% | -18% | 66% | 30% |
| P/E Ratio, x | 39.94 | 48.78 | 29.38 | 22.62 |
| Dividend, ¢ | 9.0 | 10.5 | 12.00 | 15.65 |
| Franking, % | 100% | 100% | 100% | 100% |
| Div. Yield, % | 1.41 | 1.64 | 1.88 | 2.45 |
Notes
| Our Adjusted EPS is used for the last year and forward estimates and as basis for EPS Growth and P/E Ratio. We currently use Reported data for all historic NPAT, for the prior year EPS and as base for last year EPS growth. |
| Data & Chart sourced from IRESS Market Technology Ltd. |
One Year Chart
As at 23 June 2014
Other Highlights
| Sector: | Hotels, Resorts & Cruise Lines |
| Return on Equity, FY13 : | 18% |
| Net Debt to Equity, FY13 : | -14 % |
| EBIT / Interest Cover, FY13 : | 35.57 x |
| Gicscode: | 25300000 |
| First Listed: | 15-Dec-10 |
Business Activities
Corporate Travel Management (CTD) is a provider of travel management solutions to the corporate market. CTD is a member of the GlobalStar worldwide network of 70 travel management companies which allows them to provide a seamless international service fo
Glossary:
| ♠ | "A Core Stock" - reliable long-term yield & growth |
| ♥ | "We like it" - a seasoned performer, growth & yield |
| ♦ | "A tough scout" - creating a potential breakthrough |
| ♣ | "A steady performer" - giving reliable yield or growth |
| Best Stocks | Portfolio of selected attractive investments |
| Potential | Stocks that may have good improvement prospects |
| Speculative | More risky usually smaller stocks with spec. upside |
| Midcaps | In RR Midcap Index, $ 70m to 1,500m market cap. |
| Large Stocks | Larger Stocks upwards of $ 1,500m market cap |