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TWC Enterprises

BST:4TW
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4TW
BST
CA$215M
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

TWC Enterprises Limited owns, operates, and manages golf clubs under the ClubLink One Membership More Golf trademark in Canada and the United States. The last earnings update was 27 days ago. More info.


Add to Portfolio Compare Print
  • TWC Enterprises has significant price volatility in the past 3 months.
4TW Share Price and Events
7 Day Returns
-5.4%
BST:4TW
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-42.7%
BST:4TW
-48.1%
DE Hospitality
-20.9%
DE Market
4TW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TWC Enterprises (4TW) -5.4% -36.7% -39.7% -42.7% - -
DE Hospitality -6.8% -31.3% -57.6% -48.1% -63.2% -70.6%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • 4TW outperformed the Hospitality industry which returned -48.1% over the past year.
  • 4TW underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
4TW
Industry
5yr Volatility vs Market

4TW Value

 Is TWC Enterprises 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 TWC Enterprises 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 TWC Enterprises.

BST:4TW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 BST:4TW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.782 (1 + (1- 26.5%) (68.94%))
1.119
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.119 * 5.44%)
5.7%

Discounted Cash Flow Calculation for BST:4TW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for TWC Enterprises 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BST:4TW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 5.7%)
2020 41.20 Est @ 18.48% 38.97
2021 46.48 Est @ 12.82% 41.60
2022 50.59 Est @ 8.86% 42.84
2023 53.67 Est @ 6.08% 43.00
2024 55.89 Est @ 4.14% 42.36
2025 57.45 Est @ 2.78% 41.19
2026 58.50 Est @ 1.83% 39.69
2027 59.18 Est @ 1.16% 37.98
2028 59.60 Est @ 0.7% 36.19
2029 59.82 Est @ 0.37% 34.36
Present value of next 10 years cash flows CA$398.00
BST:4TW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$59.82 × (1 + -0.39%) ÷ (5.7% – -0.39%)
CA$978.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$978.40 ÷ (1 + 5.7%)10
CA$562.04
BST:4TW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$398.00 + CA$562.04
CA$960.04
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$960.04 / 26.74
CA$35.91
BST:4TW Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:4TW represents 0.65218x of TSX:TWC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.65218x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 35.91 x 0.65218
€23.42
Value per share (EUR) From above. €23.42
Current discount Discount to share price of €5.25
= -1 x (€5.25 - €23.42) / €23.42
77.6%

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

Current Discount
Amount off the current price TWC Enterprises is available for.
Intrinsic value
>50%
Share price is €5.25 vs Future cash flow value of €23.42
Current Discount Checks
For TWC Enterprises to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • TWC Enterprises's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • TWC Enterprises'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 TWC Enterprises's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TWC Enterprises's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:4TW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$0.18
TSX:TWC Share Price ** TSX (2020-04-03) in CAD CA$8.05
Germany Hospitality Industry PE Ratio Median Figure of 9 Publicly-Listed Hospitality Companies 21.1x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

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

** Primary Listing of TWC Enterprises.

BST:4TW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:TWC Share Price ÷ EPS (both in CAD)

= 8.05 ÷ 0.18

44.5x

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

  • TWC Enterprises is overvalued based on earnings compared to the DE Hospitality industry average.
  • TWC Enterprises is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does TWC Enterprises's expected growth come at a high price?
Raw Data
BST:4TW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 44.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Hospitality Industry PEG Ratio Median Figure of 63 Publicly-Listed Hospitality Companies 0.96x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*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 TWC Enterprises, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TWC Enterprises's assets?
Raw Data
BST:4TW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$16.33
TSX:TWC Share Price * TSX (2020-04-03) in CAD CA$8.05
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 1.73x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
BST:4TW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:TWC Share Price ÷ Book Value per Share (both in CAD)

= 8.05 ÷ 16.33

0.49x

* Primary Listing of TWC Enterprises.

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

  • TWC Enterprises is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess TWC Enterprises'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. TWC Enterprises has a total score of 3/6, 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.

4TW Future Performance

 How is TWC Enterprises expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as TWC Enterprises has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
28.9%
Expected Hospitality industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TWC Enterprises expected to grow at an attractive rate?
  • Unable to compare TWC Enterprises's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare TWC Enterprises's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare TWC Enterprises's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BST:4TW Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 28.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
BST:4TW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:4TW Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 169 50 5
2019-09-30 169 47 3
2019-06-30 170 -4 5
2019-03-31 172 -27 8
2018-12-31 173 -24 9
2018-09-30 172 -28 -29
2018-06-30 171 41 -31
2018-03-31 171 40 -27
2017-12-31 172 34 -28
2017-09-30 173 40 5
2017-06-30 205 40 16
2017-03-31 228 43 19

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if TWC Enterprises is high growth as no earnings estimate data is available.
  • Unable to determine if TWC Enterprises is high growth as no revenue estimate data is available.
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
BST:4TW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from TWC Enterprises Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:4TW Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 0.18
2019-09-30 0.13
2019-06-30 0.18
2019-03-31 0.28
2018-12-31 0.34
2018-09-30 -1.07
2018-06-30 -1.14
2018-03-31 -0.99
2017-12-31 -1.03
2017-09-30 0.19
2017-06-30 0.59
2017-03-31 0.68

*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.
  • Unable to establish if TWC Enterprises will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether TWC Enterprises is trading at TWC Enterprises'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. TWC Enterprises's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Consumer Services companies here
  3. TWC Enterprises's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess TWC Enterprises'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
TWC Enterprises has a total score of 0/6, 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.

4TW Past Performance

  How has TWC Enterprises 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 TWC Enterprises'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.
  • TWC Enterprises's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • TWC Enterprises's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • TWC Enterprises's 1-year earnings growth is negative, it can't be compared to the DE Hospitality industry average.
Earnings and Revenue History
TWC Enterprises'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 TWC Enterprises Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:4TW Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 168.79 4.90 16.30
2019-09-30 169.12 3.48 17.37
2019-06-30 169.53 5.01 18.97
2019-03-31 171.91 7.67 19.64
2018-12-31 172.64 9.21 20.43
2018-09-30 172.08 -29.20 20.66
2018-06-30 170.92 -31.11 20.20
2018-03-31 170.64 -27.14 19.35
2017-12-31 171.90 -28.30 20.88
2017-09-30 173.36 5.21 21.35
2017-06-30 204.75 16.14 23.13
2017-03-31 227.95 18.66 26.18
2016-12-31 229.05 16.56 25.94
2016-09-30 231.33 7.24 32.32
2016-06-30 233.22 7.12 30.69
2016-03-31 228.84 5.92 28.41
2015-12-31 227.31 4.26 27.19
2015-09-30 225.66 6.93 19.80
2015-06-30 217.41 3.62 19.44
2015-03-31 213.22 1.78 19.29
2014-12-31 213.05 3.47 19.42
2014-09-30 212.81 7.79 19.39
2014-06-30 213.83 10.68 19.09
2014-03-31 213.36 11.18 18.90
2013-12-31 213.71 13.15 18.39
2013-09-30 213.81 14.23 17.99
2013-06-30 212.11 13.39 18.28

*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.
  • TWC Enterprises has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • TWC Enterprises used its assets less efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • TWC Enterprises's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess TWC Enterprises'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.
TWC Enterprises 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.

4TW Health

 How is TWC Enterprises'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 TWC Enterprises's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TWC Enterprises is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • TWC Enterprises's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of TWC Enterprises'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.5x debt.
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 TWC Enterprises Company Filings, last reported 3 months ago.

BST:4TW Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 436.53 131.14 151.15
2019-09-30 432.84 136.14 149.48
2019-06-30 432.69 135.41 178.26
2019-03-31 434.07 140.28 164.36
2018-12-31 438.58 165.76 160.35
2018-09-30 433.01 150.22 181.16
2018-06-30 236.43 239.80 1.54
2018-03-31 227.90 287.40 0.62
2017-12-31 233.16 299.00 0.85
2017-09-30 251.81 285.25 2.22
2017-06-30 236.05 309.17 2.90
2017-03-31 232.77 295.90 1.88
2016-12-31 237.76 313.59 2.38
2016-09-30 236.74 305.29 2.14
2016-06-30 218.37 320.63 3.28
2016-03-31 214.46 316.05 1.79
2015-12-31 225.19 342.99 2.25
2015-09-30 231.52 329.10 3.79
2015-06-30 205.51 334.71 1.61
2015-03-31 202.85 331.87 1.87
2014-12-31 200.56 348.89 1.78
2014-09-30 203.81 340.60 2.35
2014-06-30 186.82 344.57 1.88
2014-03-31 189.17 339.33 1.38
2013-12-31 193.29 341.10 1.03
2013-09-30 196.28 326.64 2.90
2013-06-30 182.67 332.38 2.51
  • TWC Enterprises's level of debt (30%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (173.8% vs 30% today).
  • Debt is well covered by operating cash flow (38.1%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess TWC Enterprises'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. TWC Enterprises has a total score of 5/6, 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.

4TW Dividends

 What is TWC Enterprises'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
0.99%
Current annual income from TWC Enterprises dividends.
If you bought €2,000 of TWC Enterprises shares you are expected to receive €20 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?
  • TWC Enterprises's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • TWC Enterprises's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
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
BST:4TW 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 0 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 11.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

BST:4TW Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-11 0.080 0.839
2020-03-09 0.080 0.640
2019-11-05 0.080 0.604
2019-11-04 0.080 0.581
2019-08-07 0.080 0.597
2019-03-06 0.080 0.557
2018-11-05 0.080 0.622
2018-05-04 0.080 0.652
2018-03-02 0.080 0.717
2017-11-02 0.080 0.665
2017-05-04 0.080 0.673
2017-02-28 0.080 0.742
2016-11-07 0.080 0.747
2016-08-04 0.080 0.788
2016-05-05 0.080 0.857
2016-03-30 0.000 0.000
2015-11-11 0.000 0.000
2015-08-10 0.000 0.000
2015-05-08 0.000 0.000
2015-03-31 0.000 0.000
2014-08-08 0.300 2.823
2014-05-08 0.300 2.688
2014-03-06 0.300 2.820
2013-11-11 0.300 3.144
2013-08-09 0.300 3.172
2013-05-10 0.300 3.283
2013-03-05 0.300 3.325
2012-11-09 0.300 3.632
2012-08-13 0.300 4.051
2012-05-11 0.300 4.499
2012-03-07 0.300 4.395
2011-11-10 0.300 4.623
2011-08-11 0.300 4.917
2011-05-11 0.300 4.511
2011-03-01 0.300 4.517
2010-11-04 0.300 4.583
2010-08-06 0.300 4.596
2010-05-05 0.300 4.753
2010-03-02 0.300 4.878
2009-11-06 0.300 5.123
2009-08-10 0.300 5.210
2009-05-06 0.240 3.839

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of TWC Enterprises's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess TWC Enterprises's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 TWC Enterprises afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TWC Enterprises 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.

4TW Management

 What is the CEO of TWC Enterprises'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
Kuldip Sahi
COMPENSATION CA$360,000
AGE 72
TENURE AS CEO 22.5 years
CEO Bio

Mr. Kuldip Rai Sahi,, FCPA, FCGA, has been the President and Chief Executive Officer of Morguard Real Estate Investment Trust and Trustee since November 10, 1998 and Chairman, President and Chief Executive Officer of TWC Enterprises Limited since 1997. He serves as a Chairman of Renasant Financial Partners Ltd. He has been the Chairman and CEO of Revenue Properties Company Limited since March 1, 2012 and also serves as Chairman and Chief Executive Officer of Morguard Corporation. He serves as a Trustee of Morguard North American Real Estate Investment Trust. He has been the Chief Executive Officer of Temple Hotels Inc. since April 1, 2016 and serves as its Director since June 30, 2015. He has been a Director of Morguard Corporation since August 31, 1990, Morguard Real Estate Investment Trust since 1998. Mr. Sahi has extensive business experience in public and private corporations, including extensive experience in investing, financial reporting, standards and policy covering a broad range of industries including insurance, commercial banking, manufacturing, transportation and automotive as well as real estate. He is the Chairman of Morguard Real Estate Investment Trust. He serves as Director of TWC Enterprises Ltd since October 23, 1997 and Temple Hotels Inc. since 2015. Mr. Sahi has received many distinctions, including the Certified General Accountants Association of Canada Fellowship Award (2009), Voice Achievement Award (Fellowship in the Indo-Canadian Community over critical enterprises, 2009) and Turnaround Entrepreneur of the Year (1994). In addition, Mr. Sahi is a ranked Member of numerous prestigious business listings, including ‘‘The Top 25 Most Influential Figures in Canadian Golf’’ (The National Post) and one of ‘‘The Most Influential People in Golf’’ (Golf Inc.).

CEO Compensation
  • Kuldip's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kuldip's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the TWC Enterprises management team in years:

10.1
Average Tenure
  • The average tenure for the TWC Enterprises management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Kuldip Sahi

TITLE
Chairman
COMPENSATION
CA$360K
AGE
72
TENURE
22.5 yrs

Andrew Tamlin

TITLE
Chief Financial Officer
COMPENSATION
CA$350K
TENURE
5.2 yrs

John Finlayson

TITLE
COO of Canadian Golf Operations & VP of Florida Golf Operations
COMPENSATION
CA$403K

Jamie King

TITLE
Vice President of Sales - Canadian Gulf Operations
COMPENSATION
CA$228K

Eugene Hretzay

TITLE
Secretary
COMPENSATION
CA$73K
TENURE
10.1 yrs

Beverley Flynn

TITLE
Executive Officer

Stephen Taylor

TITLE
Executive Officer
Board of Directors Tenure

Average tenure and age of the TWC Enterprises board of directors in years:

10.8
Average Tenure
70
Average Age
  • The average tenure for the TWC Enterprises board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Kuldip Sahi

TITLE
Chairman
COMPENSATION
CA$360K
AGE
72
TENURE
22.5 yrs

Don Turple

TITLE
Independent Director
COMPENSATION
CA$41K
AGE
66
TENURE
21.4 yrs

Sam Pollock

TITLE
Independent Director
COMPENSATION
CA$38K
AGE
53
TENURE
11.8 yrs

Fraser Berrill

TITLE
Independent Director
COMPENSATION
CA$20K
AGE
70
TENURE
1.9 yrs

Jack Winberg

TITLE
Independent Director
COMPENSATION
CA$37K
AGE
67
TENURE
10.8 yrs

Pat Brigham

TITLE
Independent Director
COMPENSATION
CA$33K
AGE
74
TENURE
10.8 yrs

Paul Campbell

TITLE
Independent Director
COMPENSATION
CA$33K
AGE
71
TENURE
9.9 yrs

Angela Sahi

TITLE
Director
COMPENSATION
CA$21K
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
22. Nov 19 Buy John Lokker Individual 19. Nov 19 19. Nov 19 2,370 €9.07 €21,490
X
Management checks
We assess TWC Enterprises'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. TWC Enterprises 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.

4TW News

Simply Wall St News

4TW Company Info

Description

TWC Enterprises Limited owns, operates, and manages golf clubs under the ClubLink One Membership More Golf trademark in Canada and the United States. It owns and operates golf clubs with 53 1/2, 18-hole equivalent championship courses; and 3 1/2, 18-hole equivalent academy courses at 41 locations primarily in Ontario, Quebec, and Florida. The company was formerly known as ClubLink Enterprises Limited and changed its name to TWC Enterprises Limited in May 2014. The company is based in King City, Canada. TWC Enterprises Limited is a subsidiary of Paros Enterprises Limited.

Details
Name: TWC Enterprises Limited
4TW
Exchange: BST
Founded:
CA$141,153,226
26,735,620
Website: http://www.twcenterprises.ca
Address: TWC Enterprises Limited
15675 Dufferin Street,
King City,
Ontario, L7B 1K5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX TWC Common Shares The Toronto Stock Exchange CA CAD 24. Dec 1997
OTCPK CLKX.F Common Shares Pink Sheets LLC US USD 24. Dec 1997
BST 4TW Common Shares Boerse-Stuttgart DE EUR 24. Dec 1997
Number of employees
Current staff
Staff numbers
550
TWC Enterprises employees.
Industry
Leisure Facilities
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 01:12
End of day share price update: 2020/04/03 00:00
Last earnings filing: 2020/03/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.