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Corporate Travel Management

DB:1C6
Snowflake Description

Excellent balance sheet, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1C6
DB
A$861M
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Corporate Travel Management Limited, a travel management solutions company, manages the purchase and delivery of travel services for the corporate market worldwide. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Corporate Travel Management has significant price volatility in the past 3 months.
1C6 Share Price and Events
7 Day Returns
-2.3%
DB:1C6
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-72.2%
DB:1C6
-48.1%
DE Hospitality
-20.9%
DE Market
1C6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Corporate Travel Management (1C6) -2.3% -30.6% -65.8% -72.2% -68.3% -
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
  • 1C6 underperformed the Hospitality industry which returned -48.1% over the past year.
  • 1C6 underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
1C6
Industry
5yr Volatility vs Market

Value

 Is Corporate Travel Management 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 Corporate Travel Management 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 Corporate Travel Management.

DB:1C6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4.4%
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 DB:1C6
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- 30%) (9.12%))
0.887
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.887 * 5.44%)
4.44%

Discounted Cash Flow Calculation for DB:1C6 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Corporate Travel Management 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.

DB:1C6 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 4.44%)
2020 68.03 Analyst x3 65.14
2021 82.80 Analyst x3 75.91
2022 93.67 Analyst x3 82.23
2023 70.82 Analyst x1 59.53
2024 58.06 Est @ -18.02% 46.73
2025 50.67 Est @ -12.73% 39.05
2026 46.09 Est @ -9.03% 34.01
2027 43.13 Est @ -6.44% 30.47
2028 41.13 Est @ -4.62% 27.83
2029 39.76 Est @ -3.35% 25.75
Present value of next 10 years cash flows A$486.00
DB:1C6 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$39.76 × (1 + -0.39%) ÷ (4.44% – -0.39%)
A$820.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$820.32 ÷ (1 + 4.44%)10
A$531.40
DB:1C6 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$486.00 + A$531.40
A$1,017.40
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$1,017.40 / 109.00
A$9.33
DB:1C6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1C6 represents 0.54937x of ASX:CTD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.54937x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 9.33 x 0.54937
€5.13
Value per share (EUR) From above. €5.13
Current discount Discount to share price of €4.34
= -1 x (€4.34 - €5.13) / €5.13
15.4%

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

Current Discount
Amount off the current price Corporate Travel Management is available for.
Intrinsic value
15%
Share price is €4.34 vs Future cash flow value of €5.13
Current Discount Checks
For Corporate Travel Management to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Corporate Travel Management's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Corporate Travel Management's share price is below the future cash flow value, but not 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 Corporate Travel Management's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Corporate Travel Management's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1C6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$0.74
ASX:CTD Share Price ** ASX (2020-04-03) in AUD A$7.9
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 Corporate Travel Management.

DB:1C6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:CTD Share Price ÷ EPS (both in AUD)

= 7.9 ÷ 0.74

10.69x

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

  • Corporate Travel Management is good value based on earnings compared to the DE Hospitality industry average.
  • Corporate Travel Management is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Corporate Travel Management's expected growth come at a high price?
Raw Data
DB:1C6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
25%per year
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 .

DB:1C6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.69x ÷ 25%

0.43x

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

  • Corporate Travel Management is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Corporate Travel Management's assets?
Raw Data
DB:1C6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$5.37
ASX:CTD Share Price * ASX (2020-04-03) in AUD A$7.9
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
DB:1C6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:CTD Share Price ÷ Book Value per Share (both in AUD)

= 7.9 ÷ 5.37

1.47x

* Primary Listing of Corporate Travel Management.

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

  • Corporate Travel Management is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Corporate Travel Management'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. Corporate Travel Management has a total score of 4/6, 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.

Future Performance

 How is Corporate Travel Management expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

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
25%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Corporate Travel Management expected to grow at an attractive rate?
  • Corporate Travel Management's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Corporate Travel Management's earnings growth is expected to exceed the Germany market average.
  • Corporate Travel Management's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1C6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1C6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 25%
DB:1C6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 11.8%
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
DB:1C6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1C6 Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 539 73 1
2022-06-30 534 126 101 9
2021-06-30 457 95 73 9
2020-06-30 399 71 49 9
2020-04-05
DB:1C6 Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 460 125 80
2019-09-30 455 129 83
2019-06-30 449 133 86
2019-03-31 431 108 86
2018-12-31 412 83 85
2018-09-30 392 89 81
2018-06-30 372 94 77
2018-03-31 360 73 70
2017-12-31 348 53 63
2017-09-30 337 61 59
2017-06-30 326 69 55
2017-03-31 311 70 51

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Corporate Travel Management's earnings are expected to grow significantly at over 20% yearly.
  • Corporate Travel Management's revenue is expected to grow by 11.8% yearly, however this is not considered high growth (20% yearly).
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
DB:1C6 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 9 Analyst Estimates (S&P Global) See Below

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

DB:1C6 Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30 0.94 1.22 0.55 7.00
2021-06-30 0.72 0.92 0.34 8.00
2020-06-30 0.55 0.74 0.27 6.00
2020-04-05
DB:1C6 Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 0.74
2019-09-30 0.77
2019-06-30 0.80
2019-03-31 0.80
2018-12-31 0.79
2018-09-30 0.76
2018-06-30 0.72
2018-03-31 0.66
2017-12-31 0.60
2017-09-30 0.57
2017-06-30 0.54
2017-03-31 0.51

*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.
  • Corporate Travel Management is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Corporate Travel Management'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.
Corporate Travel Management has a total score of 4/6, 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.

Past Performance

  How has Corporate Travel Management 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 Corporate Travel Management'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.
  • Corporate Travel Management has delivered over 20% year on year earnings growth in the past 5 years.
  • Corporate Travel Management's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Corporate Travel Management's 1-year earnings growth is negative, it can't be compared to the DE Hospitality industry average.
Earnings and Revenue History
Corporate Travel Management'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 Corporate Travel Management Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1C6 Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 459.57 80.29 79.34
2019-09-30 454.53 83.26 79.69
2019-06-30 449.48 86.24 80.04
2019-03-31 430.58 85.60 75.68
2018-12-31 411.69 84.97 70.89
2018-09-30 391.96 80.84 66.09
2018-06-30 372.24 76.71 61.29
2018-03-31 360.20 69.87 58.19
2017-12-31 348.16 63.03 55.09
2017-09-30 337.02 58.79 54.28
2017-06-30 325.87 54.56 53.47
2017-03-31 310.75 50.77 53.75
2016-12-31 295.62 46.98 54.02
2016-09-30 280.23 44.56 50.74
2016-06-30 264.84 42.13 47.46
2016-03-31 249.32 37.96 44.38
2015-12-31 233.81 33.78 41.30
2015-09-30 215.87 30.08 38.96
2015-06-30 197.93 26.37 36.62
2015-03-31 174.38 23.24 32.24
2014-12-31 150.84 20.11 27.85
2014-09-30 130.66 17.98 23.56
2014-06-30 110.48 15.85 19.27
2014-03-31 96.93 13.84 15.96
2013-12-31 83.38 11.84 12.64
2013-09-30 80.47 11.56 11.70
2013-06-30 77.56 11.27 10.77

*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.
  • Corporate Travel Management has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Corporate Travel Management used its assets more efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Corporate Travel Management's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Corporate Travel Management'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.
Corporate Travel Management has a total score of 2/6, 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.

Health

 How is Corporate Travel Management'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 Corporate Travel Management's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Corporate Travel Management is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Corporate Travel Management's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Corporate Travel Management'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 16.9x 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 Corporate Travel Management Company Filings, last reported 3 months ago.

DB:1C6 Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 607.90 21.63 86.33
2019-09-30 607.90 21.63 86.33
2019-06-30 592.48 39.29 138.79
2019-03-31 592.48 39.29 138.79
2018-12-31 558.42 60.95 74.21
2018-09-30 558.42 60.95 74.21
2018-06-30 471.49 43.98 84.80
2018-03-31 471.49 43.98 84.80
2017-12-31 419.52 77.14 72.38
2017-09-30 419.52 77.14 72.38
2017-06-30 401.40 45.42 79.45
2017-03-31 401.40 45.42 79.45
2016-12-31 300.32 45.38 96.70
2016-09-30 300.32 45.38 96.70
2016-06-30 273.44 37.18 81.19
2016-03-31 273.44 37.18 81.19
2015-12-31 250.02 0.00 54.24
2015-09-30 250.02 0.00 54.24
2015-06-30 235.91 0.00 40.68
2015-03-31 235.91 0.00 40.68
2014-12-31 199.38 0.00 81.89
2014-09-30 199.38 0.00 81.89
2014-06-30 132.88 0.00 32.02
2014-03-31 132.88 0.00 32.02
2013-12-31 73.25 0.37 9.83
2013-09-30 73.25 0.37 9.83
2013-06-30 69.12 3.35 13.55
  • Corporate Travel Management's level of debt (3.6%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Corporate Travel Management's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (580.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 26.4x coverage).
X
Financial health checks
We assess Corporate Travel Management'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. Corporate Travel Management 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.

Dividends

 What is Corporate Travel Management'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
5.06%
Current annual income from Corporate Travel Management dividends. Estimated to be 4.76% next year.
If you bought €2,000 of Corporate Travel Management shares you are expected to receive €101 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?
  • Corporate Travel Management's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Corporate Travel Management's dividend is above 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
DB:1C6 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 9 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.

DB:1C6 Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.37 1.00
2022-06-30 0.48 10.00
2021-06-30 0.37 10.00
2020-06-30 0.27 10.00
2020-04-05
DB:1C6 Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2020-02-18 0.400 4.246
2019-08-20 0.400 2.091
2019-02-19 0.390 1.638
2018-08-21 0.360 1.423
2017-08-21 0.300 1.284
2016-08-25 0.240 1.240
2016-02-25 0.190 1.332
2015-08-25 0.160 1.426
2015-02-24 0.135 1.205
2014-08-27 0.120 1.330
2013-08-28 0.105 1.849
2012-08-30 0.120 3.147
2012-02-22 0.060 2.801
2011-08-25 0.050 2.706

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

  • Whilst dividend payments have been stable, Corporate Travel Management has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Corporate Travel Management only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Corporate Travel Management's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Corporate Travel Management'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 Corporate Travel Management afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Corporate Travel Management has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Corporate Travel Management'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
Jamie Pherous
COMPENSATION A$643,104
CEO Bio

Mr. Jamie Michael Pherous, BCom, CA, founded Corporate Travel Management Limited (CTM) in Brisbane in 1994 and has built its Group from its headquarters in Brisbane to become the one of the world’s largest travel management companies. Mr. Pherous serves as the Managing Director and Global Chief Executive Officer of Corporate Travel Management limited. He was employed by Arthur Andersen, now Ernst & Young, as a Chartered Accountant, specialising in business services and financial consulting in Australia, Papua New Guinea and the United Arab Emirates. In recognition of the success of CTM as a Company, he has been a Finalist in the prestigious Ernst & Young Entrepreneur of the Year in 2004 and 2005 and CTM is a BRW Fast 100 growing company in Australia. He has been a regular speaker within the industry upon corporate travel innovations and technology and how to manage growth whilst focusing on quality delivery. He serves as an Executive Director of Corporate Travel Management Limited since May 2008 . He holds a Bachelor of Commerce degree and becoming a Chartered Accountant. He was also a major shareholder and co-founder of an online hotel booking engine, Quickbeds.com.au, which was sold to The Flight Centre Group in 2003 and is a Director of the Australian Federation of Travel Agents.

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

Average tenure of the Corporate Travel Management management team in years:

1.3
Average Tenure
  • The average tenure for the Corporate Travel Management management team is less than 2 years, this suggests a new team.
Management Team

Jamie Pherous

TITLE
Founder
COMPENSATION
A$643K

Laura Ruffles

TITLE
Global COO & Executive Director
COMPENSATION
A$2M

Steve Fleming

TITLE
Chief Financial Officer of Europe
COMPENSATION
A$894K
TENURE
0.8 yrs

Larry Lo

TITLE
Chief Executive Officer of Asia
COMPENSATION
A$947K
AGE
48

Chris Thelen

TITLE
Chief Executive Officer of North America
COMPENSATION
A$948K

Debbie Carling

TITLE
Chief Executive Officer of UK/Europe
COMPENSATION
A$725K
TENURE
3.8 yrs

Greg McCarthy

TITLE
Chief Executive Officer of Australia & New Zealand
COMPENSATION
A$613K
TENURE
1.8 yrs

Neale O’Connell

TITLE
Global Chief Financial Officer
TENURE
0.8 yrs

Anne Tucker

TITLE
Global Chief Legal Officer & Company Secretary
TENURE
0.6 yrs

Peter Wiseman

TITLE
General Manager of Sales
TENURE
7.3 yrs
Board of Directors Tenure

Average tenure and age of the Corporate Travel Management board of directors in years:

2.7
Average Tenure
61.5
Average Age
  • The average tenure for the Corporate Travel Management board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ewen Graham Crouch

TITLE
Independent Chairman
COMPENSATION
A$64K
AGE
63
TENURE
1.1 yrs

Jamie Pherous

TITLE
Founder
COMPENSATION
A$643K
TENURE
11.9 yrs

Laura Ruffles

TITLE
Global COO & Executive Director
COMPENSATION
A$2M
TENURE
4.3 yrs

Greg Moynihan

TITLE
Independent Non-Executive Director
COMPENSATION
A$120K
AGE
62
TENURE
9.8 yrs

Sophie Mitchell

TITLE
Independent Non-Executive Director
AGE
52
TENURE
0.6 yrs

Jon Brett

TITLE
Independent Non-Executive Director
AGE
61
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Corporate Travel Management individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Mar 20 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 12. Mar 20 23. Mar 20 -912,979 €4.18 €-3,817,119
26. Mar 20 Sell First Sentier Investors (Australia) IM Ltd Company 24. Feb 20 23. Mar 20 -914,763 €7.09 €-6,481,946
26. Mar 20 Buy First Sentier Investors (Australia) IM Ltd Company 24. Feb 20 23. Mar 20 719,933 €6.91 €4,971,188
16. Mar 20 Buy Invesco Ltd. Company 12. Mar 20 12. Mar 20 1,465,352 €5.24 €7,685,106
15. Mar 20 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 24. Feb 20 11. Mar 20 2,606,040 €6.85 €17,859,419
18. Feb 20 Sell Colonial First State Investments Limited Company 14. Feb 20 14. Feb 20 -70,000 €10.62 €-743,104
18. Feb 20 Buy Colonial First State Investments Limited Company 14. Feb 20 14. Feb 20 32,541 €10.48 €341,012
03. Mar 20 Buy Invesco Ltd. Company 28. Feb 20 28. Feb 20 2,318,209 €8.28 €19,183,812
03. Mar 20 Buy Bennelong Australian Equity Partners Pty Ltd Company 02. Mar 20 02. Mar 20 1,180,250 €12.88 €15,204,557
24. Feb 20 Buy Jonathan Brett Individual 24. Feb 20 24. Feb 20 1,000 €9.51 €9,507
18. Feb 20 Buy First Sentier Investors (Australia) IM Ltd Company 14. Feb 20 14. Feb 20 7,026 €10.48 €73,624
30. Jan 20 Buy ASB Group Investments Ltd. Company 10. Sep 19 10. Sep 19 5,803 €11.22 €65,131
30. Jan 20 Sell First Sentier Investors (Australia) IM Ltd Company 18. Jun 19 21. Oct 19 -77,839 €11.13 €-856,961
03. Oct 19 Sell First Sentier Investors (Australia) IM Ltd Company 26. Sep 19 01. Oct 19 -845,073 €11.65 €-9,847,221
03. Oct 19 Buy First Sentier Investors (Australia) IM Ltd Company 26. Sep 19 01. Oct 19 144,893 €11.66 €1,688,941
30. Sep 19 Sell First Sentier Investors (Australia) IM Ltd Company 09. Sep 19 18. Sep 19 -110,316 €11.08 €-1,221,843
30. Sep 19 Buy First Sentier Investors (Australia) IM Ltd Company 13. Sep 19 24. Sep 19 62,453 €11.27 €704,151
15. Oct 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 07. Oct 19 10. Oct 19 222,930 €11.10 €2,462,255
08. Oct 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 04. Oct 19 04. Oct 19 49,651 €11.23 €555,727
08. Oct 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 02. Oct 19 03. Oct 19 140,087 €11.24 €1,573,948
03. Oct 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 26. Sep 19 01. Oct 19 -746 €11.62 €-8,672
03. Oct 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 26. Sep 19 01. Oct 19 1,458 €11.69 €17,041
30. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 09. Sep 19 25. Sep 19 -2,115,879 €11.50 €-24,340,465
30. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 09. Sep 19 25. Sep 19 1,414,767 €11.39 €16,114,567
30. Sep 19 Sell Mitsubishi UFJ Kokusai Asset Management Co., Ltd. Company 09. Sep 19 09. Sep 19 -27,158 €11.33 €-307,689
29. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 09. Sep 19 25. Sep 19 1,381,469 €11.51 €15,727,571
11. Sep 19 Sell First Sentier Investors (Australia) IM Ltd Company 04. Sep 19 06. Sep 19 -302,592 €11.12 €-3,366,298
11. Sep 19 Buy First Sentier Investors (Australia) IM Ltd Company 05. Sep 19 05. Sep 19 678 €11.22 €7,605
12. Sep 19 Buy Bennelong Australian Equity Partners Pty Ltd Company 10. Sep 19 10. Sep 19 2,315,848 €14.73 €34,102,343
10. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 04. Sep 19 06. Sep 19 -245,645 €11.11 €-2,719,856
10. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 04. Sep 19 06. Sep 19 205,820 €11.35 €2,316,449
08. Sep 19 Buy First Sentier Investors (Australia) IM Ltd Company 03. Sep 19 03. Sep 19 27 €10.98 €296
05. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 05. Aug 19 02. Sep 19 -1,396,609 €12.51 €-17,477,320
05. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 05. Aug 19 02. Sep 19 3,156,379 €11.81 €37,271,726
05. Sep 19 Sell Mitsubishi UFJ Kokusai Asset Management Co., Ltd. Company 22. Aug 19 02. Sep 19 -22,249 €10.98 €-244,235
05. Sep 19 Buy Mitsubishi UFJ Kokusai Asset Management Co., Ltd. Company 30. Aug 19 30. Aug 19 18,549 €10.79 €200,192
05. Sep 19 Sell First Sentier Investors (Australia) IM Ltd Company 06. Aug 19 27. Aug 19 -268,208 €12.91 €-3,461,332
05. Sep 19 Buy First Sentier Investors (Australia) IM Ltd Company 05. Aug 19 02. Sep 19 524,047 €12.39 €6,491,330
05. Sep 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 03. Sep 19 03. Sep 19 -26,931 €11.08 €-292,812
05. Sep 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 03. Sep 19 03. Sep 19 111,743 €11.04 €1,228,877
04. Sep 19 Sell Pinnacle Fund Services Limited Company 04. Mar 19 02. Sep 19 -1,222,517 €12.89 €-15,758,038
04. Sep 19 Buy Pinnacle Fund Services Limited Company 15. Mar 19 15. Aug 19 857,662 €13.17 €11,293,148
04. Sep 19 Sell Pinnacle Investment Management Limited Company 04. Mar 19 02. Sep 19 -1,239,405 €12.76 €-15,818,104
04. Sep 19 Buy Pinnacle Investment Management Limited Company 15. Mar 19 15. Aug 19 857,662 €13.17 €11,293,148
03. Sep 19 Sell Hyperion Asset Management Limited Company 24. Nov 16 30. Aug 19 -109,920 €10.35 €-1,114,575
03. Sep 19 Buy Hyperion Asset Management Limited Company 24. Nov 16 30. Aug 19 7,048 €10.32 €72,763
08. Aug 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 15. Jul 19 02. Aug 19 -855,643 €14.02 €-11,992,165
06. Aug 19 Buy First Sentier Investors (Australia) IM Ltd Company 28. May 19 02. Aug 19 718,994 €14.10 €10,101,990
17. Jul 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 31. May 19 12. Jul 19 -1,662,277 €14.10 €-23,432,384
17. Jul 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 31. May 19 12. Jul 19 1,638,439 €14.03 €22,856,313
07. Jun 19 Buy Ewen Graham Crouch Individual 05. Jun 19 05. Jun 19 2,500 €13.67 €34,177
04. Jun 19 Buy Bennelong Australian Equity Partners Pty Ltd Company 23. Mar 19 03. Jun 19 1,142,340 €16.24 €18,548,025
29. May 19 Sell First Sentier Investors Realindex Pty. Ltd. Company 17. May 19 24. May 19 -4,328 €15.48 €-66,979
29. May 19 Buy First Sentier Investors Realindex Pty. Ltd. Company 21. Feb 19 20. May 19 27,067 €15.50 €419,463
29. May 19 Sell ASB Group Investments Ltd. Company 30. Apr 19 30. Apr 19 -5,707 €16.56 €-94,498
29. May 19 Buy ASB Group Investments Ltd. Company 06. May 19 06. May 19 3,529 €15.59 €55,004
29. May 19 Sell First Sentier Investors (Australia) IM Ltd Company 20. Feb 19 22. May 19 -188,238 €15.66 €-2,941,152
29. May 19 Buy First Sentier Investors (Australia) IM Ltd Company 19. Feb 19 27. May 19 1,260,287 €16.44 €20,482,097
X
Management checks
We assess Corporate Travel Management'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. Corporate Travel Management 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.

News

Simply Wall St News

Company Info

Description

Corporate Travel Management Limited, a travel management solutions company, manages the purchase and delivery of travel services for the corporate market worldwide. It operates in four segments: Travel Services Australia and New Zealand, Travel Services North America, Travel Services Asia, and Travel Services Europe. The company offers a range of corporate travel services, including cost reduction, client onboarding, return on investment, and technology services; sport travel services, such as corporate and VIP travel, group travel, and event management services; and event travel services. It also provides resource travel services comprising bulk upload, shift management, and expense management products, as well as behavior analysis, charter negotiation, risk alert, and emergency evacuation services; and leisure travel services. The company was founded in 1994 and is headquartered in Brisbane, Australia.

Details
Name: Corporate Travel Management Limited
1C6
Exchange: DB
Founded: 1994
A$479,634,966
109,000,950
Website: http://www.travelctm.com
Address: Corporate Travel Management Limited
307 Queen Street,
Level 24,
Brisbane,
Queensland, 4000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CTD Ordinary Shares Australian Securities Exchange AU AUD 15. Dec 2010
OTCPK CTML.F Ordinary Shares Pink Sheets LLC US USD 15. Dec 2010
DB 1C6 Ordinary Shares Deutsche Boerse AG DE EUR 15. Dec 2010
BRSE 1C6 Ordinary Shares Berne Stock Exchange CH CHF 15. Dec 2010
CHIA CTD Ordinary Shares Chi-X Australia AU AUD 15. Dec 2010
Number of employees
Current staff
Staff numbers
2,600
Corporate Travel Management employees.
Industry
Hotels, Resorts and Cruise Lines
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 22:36
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/23
Last earnings filing: 2020/02/18
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/06/30


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.