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Crown Resorts

DB:5CW
Snowflake Description

Very undervalued with excellent balance sheet.

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

Crown Resorts Limited operates in the entertainment industry primarily in Australia. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Crown Resorts has significant price volatility in the past 3 months.
5CW Share Price and Events
7 Day Returns
6.7%
DB:5CW
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-44.7%
DB:5CW
-48.1%
DE Hospitality
-20.9%
DE Market
5CW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Crown Resorts (5CW) 6.7% -26.4% -44.2% -44.7% -54.1% -55.2%
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
  • 5CW outperformed the Hospitality industry which returned -48.1% over the past year.
  • 5CW underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
5CW
Industry
5yr Volatility vs Market

5CW Value

 Is Crown Resorts 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 Crown Resorts 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 Crown Resorts.

DB:5CW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4.6%
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:5CW
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%) (17.26%))
0.917
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.917 * 5.44%)
4.6%

Discounted Cash Flow Calculation for DB:5CW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Crown Resorts 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:5CW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 4.6%)
2020 -455.50 Analyst x2 -435.47
2021 76.50 Analyst x2 69.92
2022 647.50 Analyst x2 565.78
2023 374.00 Analyst x1 312.43
2024 620.00 Analyst x1 495.15
2025 756.37 Est @ 21.99% 577.49
2026 871.94 Est @ 15.28% 636.45
2027 964.17 Est @ 10.58% 672.83
2028 1,034.44 Est @ 7.29% 690.12
2029 1,086.00 Est @ 4.98% 692.66
Present value of next 10 years cash flows A$4,277.00
DB:5CW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$1,086.00 × (1 + -0.39%) ÷ (4.6% – -0.39%)
A$21,679.42
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$21,679.42 ÷ (1 + 4.6%)10
A$13,827.30
DB:5CW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$4,277.00 + A$13,827.30
A$18,104.30
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$18,104.30 / 677.16
A$26.74
DB:5CW Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:5CW represents 0.55541x of ASX:CWN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.55541x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 26.74 x 0.55541
€14.85
Value per share (EUR) From above. €14.85
Current discount Discount to share price of €4.16
= -1 x (€4.16 - €14.85) / €14.85
72%

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

Current Discount
Amount off the current price Crown Resorts is available for.
Intrinsic value
>50%
Share price is €4.16 vs Future cash flow value of €14.85
Current Discount Checks
For Crown Resorts to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Crown Resorts's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Crown Resorts'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 Crown Resorts's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Crown Resorts's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:5CW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$0.66
ASX:CWN Share Price ** ASX (2020-04-03) in AUD A$7.49
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 Crown Resorts.

DB:5CW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 7.49 ÷ 0.66

11.39x

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

  • Crown Resorts is good value based on earnings compared to the DE Hospitality industry average.
  • Crown Resorts is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Crown Resorts's expected growth come at a high price?
Raw Data
DB:5CW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
12.9%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:5CW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.39x ÷ 12.9%

0.88x

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

  • Crown Resorts is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Crown Resorts's assets?
Raw Data
DB:5CW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$7.53
ASX:CWN Share Price * ASX (2020-04-03) in AUD A$7.49
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:5CW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.49 ÷ 7.53

0.99x

* Primary Listing of Crown Resorts.

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

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

5CW Future Performance

 How is Crown Resorts expected to perform in the next 1 to 3 years based on estimates from 10 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
12.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Crown Resorts expected to grow at an attractive rate?
  • Crown Resorts's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Crown Resorts's earnings growth is positive but not above the Germany market average.
  • Crown Resorts's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:5CW Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:5CW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 12.9%
DB:5CW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 11.6%
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:5CW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:5CW Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-06-30 4,041 741 411 1
2023-06-30 3,815 687 362 1
2022-06-30 3,456 654 307 8
2021-06-30 2,885 506 211 10
2020-06-30 2,578 387 188 10
2020-04-05
DB:5CW Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 2,983 815 445
2019-09-30 2,956 797 423
2019-06-30 2,929 778 402
2019-03-31 2,948 762 449
2018-12-31 2,966 746 495
2018-09-30 3,025 739 527
2018-06-30 3,083 732 559
2018-03-31 3,126 668 1,152
2017-12-31 3,170 604 1,746
2017-09-30 3,257 535 1,806
2017-06-30 3,344 466 1,866
2017-03-31 3,425 489 1,485

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Crown Resorts's earnings are expected to grow by 12.9% yearly, however this is not considered high growth (20% yearly).
  • Crown Resorts's revenue is expected to grow by 11.6% 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:5CW 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 10 Analyst Estimates (S&P Global) See Below

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

DB:5CW Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-06-30 0.61 0.61 0.61 1.00
2023-06-30 0.54 0.54 0.54 1.00
2022-06-30 0.45 0.56 0.35 4.00
2021-06-30 0.29 0.52 0.15 6.00
2020-06-30 0.24 0.34 0.18 5.00
2020-04-05
DB:5CW Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 0.66
2019-09-30 0.62
2019-06-30 0.59
2019-03-31 0.66
2018-12-31 0.72
2018-09-30 0.77
2018-06-30 0.81
2018-03-31 1.65
2017-12-31 2.47
2017-09-30 2.52
2017-06-30 2.57
2017-03-31 2.04

*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.
  • Crown Resorts is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Crown Resorts'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.
Crown Resorts has a total score of 2/6, 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.

5CW Past Performance

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

DB:5CW 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 2,982.70 445.10 0.80
2019-09-30 2,955.95 423.45 0.40
2019-06-30 2,929.20 401.80
2019-03-31 2,947.70 448.50
2018-12-31 2,966.20 495.20
2018-09-30 3,024.65 527.05
2018-06-30 3,083.10 558.90
2018-03-31 3,126.47 1,152.23
2017-12-31 3,169.84 1,745.56
2017-09-30 3,256.97 1,805.83
2017-06-30 3,344.10 1,866.10
2017-03-31 3,424.92 1,484.51
2016-12-31 3,505.74 1,102.92
2016-09-30 3,560.94 1,025.87
2016-06-30 3,616.15 948.82
2016-03-31 3,636.68 668.58
2015-12-31 3,657.21 388.34
2015-09-30 3,570.80 386.69
2015-06-30 3,484.40 385.05
2015-03-31 3,361.49 430.06
2014-12-31 3,238.58 475.06
2014-09-30 3,166.46 565.41
2014-06-30 3,094.34 655.76
2014-03-31 3,020.60 626.62
2013-12-31 2,946.86 597.46
2013-09-30 2,920.83 496.63
2013-06-30 2,894.80 395.80

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

5CW Health

 How is Crown Resorts'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 Crown Resorts's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Crown Resorts is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Crown Resorts's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Crown Resorts'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 1x 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 Crown Resorts Company Filings, last reported 3 months ago.

DB:5CW Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 5,098.40 820.30 652.00
2019-09-30 5,098.40 820.30 652.00
2019-06-30 5,096.90 1,083.10 1,126.00
2019-03-31 5,096.90 1,083.10 1,126.00
2018-12-31 5,033.90 1,093.70 1,276.40
2018-09-30 5,033.90 1,093.70 1,276.40
2018-06-30 5,157.90 1,494.80 1,844.60
2018-03-31 5,157.90 1,494.80 1,844.60
2017-12-31 5,213.30 1,519.72 1,435.94
2017-09-30 5,213.30 1,519.72 1,435.94
2017-06-30 5,119.70 1,805.10 1,771.20
2017-03-31 5,119.70 1,805.10 1,771.20
2016-12-31 5,214.25 2,268.47 659.05
2016-09-30 5,214.25 2,268.47 659.05
2016-06-30 5,092.12 2,155.58 449.66
2016-03-31 5,092.12 2,155.58 449.66
2015-12-31 4,805.60 3,202.90 397.51
2015-09-30 4,805.60 3,202.90 397.51
2015-06-30 4,609.00 2,588.05 340.98
2015-03-31 4,609.00 2,588.05 340.98
2014-12-31 4,414.00 2,688.70 405.90
2014-09-30 4,414.00 2,688.70 405.90
2014-06-30 3,981.66 1,748.95 177.78
2014-03-31 3,981.66 1,748.95 177.78
2013-12-31 3,944.29 1,752.32 192.66
2013-09-30 3,944.29 1,752.32 192.66
2013-06-30 3,652.60 1,635.30 205.50
  • Crown Resorts's level of debt (16.1%) 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 (59.5% vs 16.1% today).
  • Debt is well covered by operating cash flow (99.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 33.7x coverage).
X
Financial health checks
We assess Crown Resorts'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. Crown Resorts 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.

5CW Dividends

 What is Crown Resorts'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
8.01%
Current annual income from Crown Resorts dividends. Estimated to be 6.72% next year.
If you bought €2,000 of Crown Resorts shares you are expected to receive €160 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?
  • Crown Resorts's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Crown Resorts'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:5CW 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 10 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:5CW Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2024-06-30 0.60 1.00
2023-06-30 0.60 1.00
2022-06-30 0.58 9.00
2021-06-30 0.45 11.00
2020-06-30 0.47 11.00
2020-04-05
DB:5CW Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2020-02-18 0.600 7.059
2019-08-20 0.600 4.926
2019-02-19 0.600 4.888
2018-09-20 0.600 4.913
2018-08-08 0.600 4.309
2018-02-21 0.600 4.528
2017-09-20 0.600 4.887
2017-08-03 0.600 5.117
2017-02-22 0.695 5.636
2016-08-16 0.790 6.634
2016-02-24 0.520 4.247
2015-09-17 0.370 3.203
2015-08-12 0.370 3.214
2014-09-22 0.370 2.757
2013-08-22 0.370 2.295
2012-09-26 0.370 3.211
2012-08-20 0.370 4.077
2012-08-13 0.370 4.253
2012-08-10 0.370 4.322
2012-02-24 0.370 4.301
2011-08-25 0.370 4.566
2011-02-25 0.370 4.364
2010-08-26 0.370 4.369
2009-08-27 0.370 4.581

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Crown Resorts's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.9x coverage).
X
Income/ dividend checks
We assess Crown Resorts'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 Crown Resorts afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Crown Resorts has a total score of 3/6, see the detailed checks below.


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

5CW Management

 What is the CEO of Crown Resorts'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
Ken Barton
COMPENSATION A$2,895,501
AGE 53
TENURE AS CEO 0.3 years
CEO Bio

Mr. Kenneth M. Barton, also known as Ken, BEc, CA, F FIN serves as Chief Executive Officer and Managing Director of Crown Resorts Limited since January 24, 2020 and serves as its Chief Financial Officer since March 9, 2010. Mr. Barton serves as Director at Crown Resorts Limited since March 03, 2020. Mr. Barton served as the Chief Executive Officer of Crown Digital since February 2017 until March 2020. Mr. Barton served as the Chief Financial Officer of Boral Ltd. since December 2002 until March 1, 2010. Mr. Barton served as Vice President and Chief Financial Officer of Boral Industries Inc. in the USA since August 2000. He served as Vice President of Finance at Pioneer International from 1997 to 2000. Mr. Barton was Partner in the Corporate Finance division of Arthur Andersen based in Sydney. He is an Associate of the Institute of Chartered Accountants in Australia, the Securities Institute of Australia and a Fellow of the Financial Services Institute of Australia. Mr. Barton has a Bachelor of Economics Degree from the University of Sydney. Mr. Barton also sits on the Crown Melbourne Limited, Burswood Limited and Crown Resorts Foundation Boards. He also joined the Male Champions of Change program in 2017.

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

Average tenure and age of the Crown Resorts management team in years:

2.8
Average Tenure
53
Average Age
  • The tenure for the Crown Resorts management team is about average.
Management Team

Ken Barton

TITLE
Former CEO
COMPENSATION
A$3M
AGE
53
TENURE
0.3 yrs

John Alexander

TITLE
Executive Director
COMPENSATION
A$4M
AGE
62
TENURE
0.3 yrs

William Nisbet

TITLE
Executive Vice President of Strategy & Development
COMPENSATION
A$4M
AGE
51
TENURE
12 yrs

Barry Felstead

TITLE
Chief Executive Officer of Australian Resorts
COMPENSATION
A$3M
TENURE
6.7 yrs

Mary Manos

TITLE
General Counsel & Company Secretary
TENURE
2.8 yrs

Karl Bitar

TITLE
Executive Vice President of Group Marketing & Brand Strategy

Michael Neilson

TITLE
Executive Officer
TENURE
2.8 yrs

Jacinta Cubillo

TITLE
Human Resources Coordinator
Board of Directors Tenure

Average tenure and age of the Crown Resorts board of directors in years:

2
Average Tenure
59
Average Age
  • The average tenure for the Crown Resorts board of directors is less than 3 years, this suggests a new board.
Board of Directors

Lioyd Coonan

TITLE
Non-Executive Chairman
COMPENSATION
A$219K
TENURE
0.3 yrs

Ken Barton

TITLE
Former CEO
COMPENSATION
A$3M
AGE
53
TENURE
0.1 yrs

John Horvath

TITLE
Non-Executive Deputy Chairman
COMPENSATION
A$311K
TENURE
0.3 yrs

John Alexander

TITLE
Executive Director
COMPENSATION
A$4M
AGE
62
TENURE
12.8 yrs

Guy Jalland

TITLE
Non-Executive Director
TENURE
2 yrs

Harold Mitchell

TITLE
Non-Executive Director
COMPENSATION
A$197K
AGE
77
TENURE
9.2 yrs

Andrew Demetriou

TITLE
Non-Executive Director
COMPENSATION
A$181K
TENURE
5.3 yrs

Jane Halton

TITLE
Non-Executive Director
COMPENSATION
A$197K
AGE
59
TENURE
1.9 yrs

Toni Korsanos

TITLE
Non-Executive Director
COMPENSATION
A$251K
AGE
49
TENURE
1.9 yrs

Mike Johnston

TITLE
Non-Executive Director
TENURE
12.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Crown Resorts individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
18. Mar 20 Sell Perpetual Limited Company 14. Feb 20 16. Mar 20 -2,463,170 €6.56 €-12,393,178
18. Mar 20 Buy Perpetual Limited Company 28. Jan 20 16. Mar 20 10,479,368 €6.55 €58,741,588
02. Mar 20 Buy Helen Anne Coonan Individual 26. Feb 20 27. Feb 20 10,000 €6.39 €63,562
28. Jan 20 Sell Perpetual Limited Company 23. Oct 19 22. Jan 20 -202,962 €7.72 €-1,566,966
28. Jan 20 Buy Perpetual Limited Company 21. Oct 19 23. Jan 20 7,019,485 €7.63 €53,579,207
22. Oct 19 Sell Perpetual Limited Company 25. Sep 19 01. Oct 19 -3,128,184 €7.58 €-23,707,674
22. Oct 19 Buy Perpetual Limited Company 23. Aug 19 18. Oct 19 10,034,675 €7.43 €74,551,662
02. Oct 19 Sell Schroder Investment Management Limited Company 06. Aug 19 02. Oct 19 -9,383,239 €7.45 €-69,914,661
02. Oct 19 Buy Schroder Investment Management Limited Company 06. Aug 19 02. Oct 19 22,369 €7.44 €164,617
26. Aug 19 Sell Perpetual Limited Company 23. Jul 19 22. Aug 19 -915,837 €7.50 €-6,872,995
26. Aug 19 Buy Perpetual Limited Company 22. Jul 19 22. Aug 19 2,695,114 €7.06 €19,025,427
05. Aug 19 Sell Schroder Investment Management (Singapore) Ltd Company 21. Nov 17 05. Aug 19 -542,504 €8.02 €-4,349,237
05. Aug 19 Buy Schroder Investment Management (Singapore) Ltd Company 21. Nov 17 05. Aug 19 6,530,424 €7.70 €50,285,277
05. Aug 19 Sell Schroder Investment Management (Hong Kong) Limited Company 21. Nov 17 05. Aug 19 -167,432 €8.19 €-1,371,142
05. Aug 19 Buy Schroder Investment Management (Hong Kong) Limited Company 21. Nov 17 05. Aug 19 373,833 €7.97 €2,977,675
05. Aug 19 Sell Schroder Investment Management Limited Company 21. Nov 17 05. Aug 19 -2,800,256 €7.75 €-21,713,766
05. Aug 19 Buy Schroder Investment Management Limited Company 21. Nov 17 05. Aug 19 9,354,362 €7.35 €68,485,785
21. Jul 19 Sell Perpetual Limited Company 01. Jul 19 19. Jul 19 -3,283,265 €7.93 €-26,045,085
21. Jul 19 Buy Perpetual Limited Company 24. Jun 19 10. Jul 19 2,977,901 €7.74 €23,036,012
25. Jun 19 Sell Perpetual Limited Company 08. Apr 19 02. May 19 -1,970,395 €8.15 €-16,062,110
25. Jun 19 Buy Perpetual Limited Company 21. Mar 19 21. Jun 19 9,384,402 €7.42 €69,623,965
11. Jun 19 Sell Consolidated Press Holdings Pty Limited Company 06. Jun 19 06. Jun 19 -67,675,000 €8.04 €-544,326,927
X
Management checks
We assess Crown Resorts'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. Crown Resorts 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.

5CW News

Simply Wall St News

5CW Company Info

Description

Crown Resorts Limited operates in the entertainment industry primarily in Australia. It operates in four segments: Crown Melbourne, Crown Perth, Crown Aspinalls, and Wagering & Online. The company owns and operates two integrated resorts, including Crown Melbourne and Crown Perth. Its Crown Melbourne resort comprises 2,628 gaming machines and 540 gaming tables; the Crown Towers Melbourne hotel with 481 guest rooms, the Crown Metropol Melbourne hotel with 658 guest rooms, and the Crown Promenade Melbourne hotel with 465 guest rooms; a conference center; banqueting facilities; restaurants and bars; and designer brands and retail outlets. The company’s Crown Perth resort includes the Crown Towers Perth hotel with 500 guest rooms; the Crown Metropol Perth hotel comprising 397 guest rooms; the Crown Promenade Perth hotel with 291 guest rooms; 2,500 gaming machines and 350 gaming tables; a 1,500-seat Crown Ballroom and 2,300-seat Crown Theatre; convention facilities; and restaurants and bars, and a resort. It also operates owns and operates the Crown Aspinalls, a casino in London; and engages in wagering and online social gaming activities. The company was formerly known as Crown Limited and changed its name to Crown Resorts Limited in October 2013. Crown Resorts Limited was incorporated in 2007 and is based in Southbank, Australia.

Details
Name: Crown Resorts Limited
5CW
Exchange: DB
Founded: 2007
A$2,825,045,628
677,158,271
Website: http://www.crownresorts.com.au
Address: Crown Resorts Limited
Crown Towers,
Level 3,
Southbank,
Victoria, 3006,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CWN Ordinary Shares Australian Securities Exchange AU AUD 03. Dec 2007
OTCPK CWLD.F Ordinary Shares Pink Sheets LLC US USD 03. Dec 2007
DB 5CW Ordinary Shares Deutsche Boerse AG DE EUR 03. Dec 2007
CHIA CWN Ordinary Shares Chi-X Australia AU AUD 03. Dec 2007
OTCPK CWLD.Y UNSPONSORD ADR Pink Sheets LLC US USD 04. Nov 2008
Number of employees
Current staff
Staff numbers
12,220
Crown Resorts employees.
Industry
Casinos and Gaming
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 21:35
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/31
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.