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T&G Global

NZSE:TGG
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TGG
NZSE
NZ$304M
Market Cap
  1. Home
  2. NZ
  3. Food, Beverage & Tobacco
Company description

T&G Global Limited, together with its subsidiaries, grows, markets, distributes, and exports fresh produce under the Jazz, Envy, Pacific Rose, enza, freshfields, sunfirst and Beekist brands. The last earnings update was 41 days ago. More info.


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TGG Share Price and Events
7 Day Returns
0%
NZSE:TGG
2.9%
NZ Food
2.2%
NZ Market
1 Year Returns
-7.5%
NZSE:TGG
2.5%
NZ Food
-2.6%
NZ Market
TGG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
T&G Global (TGG) 0% -11.4% -14.5% -7.5% -33.9% 28.5%
NZ Food 2.9% 7% 6.1% 2.5% 50.8% 104.1%
NZ Market 2.2% -9.9% -15.7% -2.6% 15.2% 27.9%
1 Year Return vs Industry and Market
  • TGG underperformed the Food industry which returned 2.5% over the past year.
  • TGG underperformed the Market in New Zealand which returned -2.6% over the past year.
Price Volatility
TGG
Industry
5yr Volatility vs Market

Value

 Is T&G Global 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 T&G Global 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 T&G Global.

NZSE:TGG 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 NZ Government Bond Rate 1.3%

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 NZSE:TGG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NZ Govt Bond Rate 1.3%
Equity Risk Premium S&P Global 5.4%
Food Unlevered Beta Simply Wall St/ S&P Global 0.5
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.499 (1 + (1- 28%) (52.21%))
0.79
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.32% + (0.8 * 5.44%)
5.67%

Discounted Cash Flow Calculation for NZSE:TGG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for T&G Global 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.

NZSE:TGG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NZD, Millions) Source Present Value
Discounted (@ 5.67%)
2020 29.64 Est @ 50.57% 28.05
2021 40.25 Est @ 35.8% 36.05
2022 50.50 Est @ 25.45% 42.80
2023 59.70 Est @ 18.21% 47.88
2024 67.55 Est @ 13.15% 51.26
2025 74.03 Est @ 9.6% 53.17
2026 79.30 Est @ 7.11% 53.89
2027 83.56 Est @ 5.38% 53.74
2028 87.03 Est @ 4.16% 52.97
2029 89.91 Est @ 3.31% 51.79
Present value of next 10 years cash flows NZ$471.00
NZSE:TGG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NZ$89.91 × (1 + 1.32%) ÷ (5.67% – 1.32%)
NZ$2,093.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NZ$2,093.29 ÷ (1 + 5.67%)10
NZ$1,205.67
NZSE:TGG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NZ$471.00 + NZ$1,205.67
NZ$1,676.67
Equity Value per Share
(NZD)
= Total value / Shares Outstanding
= NZ$1,676.67 / 122.54
NZ$13.68
NZSE:TGG Discount to Share Price
Calculation Result
Value per share (NZD) From above. NZ$13.68
Current discount Discount to share price of NZ$2.48
= -1 x (NZ$2.48 - NZ$13.68) / NZ$13.68
81.9%

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

Current Discount
Amount off the current price T&G Global is available for.
Intrinsic value
>50%
Share price is NZ$2.48 vs Future cash flow value of NZ$13.68
Current Discount Checks
For T&G Global to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • T&G Global's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • T&G Global'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 T&G Global's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are T&G Global's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NZSE:TGG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in NZD NZ$0.01
NZSE:TGG Share Price ** NZSE (2020-04-07) in NZD NZ$2.48
New Zealand Food Industry PE Ratio Median Figure of 10 Publicly-Listed Food Companies 15.8x
New Zealand Market PE Ratio Median Figure of 84 Publicly-Listed Companies 16.02x

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

** Primary Listing of T&G Global.

NZSE:TGG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NZSE:TGG Share Price ÷ EPS (both in NZD)

= 2.48 ÷ 0.01

337.32x

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

  • T&G Global is overvalued based on earnings compared to the NZ Food industry average.
  • T&G Global is overvalued based on earnings compared to the New Zealand market.
Price based on expected Growth
Does T&G Global's expected growth come at a high price?
Raw Data
NZSE:TGG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 337.32x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
New Zealand Food Industry PEG Ratio Median Figure of 7 Publicly-Listed Food Companies 1x
New Zealand Market PEG Ratio Median Figure of 59 Publicly-Listed Companies 0.84x

*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 T&G Global, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on T&G Global's assets?
Raw Data
NZSE:TGG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in NZD NZ$3.76
NZSE:TGG Share Price * NZSE (2020-04-07) in NZD NZ$2.48
New Zealand Food Industry PB Ratio Median Figure of 13 Publicly-Listed Food Companies 1.03x
New Zealand Market PB Ratio Median Figure of 118 Publicly-Listed Companies 1.24x
NZSE:TGG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NZSE:TGG Share Price ÷ Book Value per Share (both in NZD)

= 2.48 ÷ 3.76

0.66x

* Primary Listing of T&G Global.

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

  • T&G Global is good value based on assets compared to the NZ Food industry average.
X
Value checks
We assess T&G Global'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 Food 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 Food industry average (and greater than 0)? (1 check)
  5. T&G Global 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.

Future Performance

 How is T&G Global 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 T&G Global 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
16.1%
Expected Food industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is T&G Global expected to grow at an attractive rate?
  • Unable to compare T&G Global's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare T&G Global's earnings growth to the New Zealand market average as no estimate data is available.
  • Unable to compare T&G Global's revenue growth to the New Zealand market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NZSE:TGG Future Growth Rates Data Sources
Data Point Source Value (per year)
New Zealand Food Industry Earnings Growth Rate Market Cap Weighted Average 16.1%
New Zealand Food Industry Revenue Growth Rate Market Cap Weighted Average 13.5%
New Zealand Market Earnings Growth Rate Market Cap Weighted Average 9%
New Zealand Market Revenue Growth Rate Market Cap Weighted Average 6%

*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
NZSE:TGG 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 NZD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NZSE:TGG Past Financials Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,216 51 1
2019-06-30 1,167 30 4
2019-03-31 1,178 35 5
2018-12-31 1,188 39 6
2018-09-30 1,163 18
2018-06-30 1,139 43 30
2018-03-31 1,103 28 34
2017-12-31 1,068 14 37
2017-09-30 1,014 28
2017-06-30 960 29 18
2017-03-31 916 34 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if T&G Global is high growth as no earnings estimate data is available.
  • Unable to determine if T&G Global 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
NZSE:TGG 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 T&G Global Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NZSE:TGG Past Financials Data
Date (Data in NZD Millions) EPS *
2019-12-31 0.01
2019-06-30 0.03
2019-03-31 0.04
2018-12-31 0.05
2018-09-30 0.15
2018-06-30 0.24
2018-03-31 0.27
2017-12-31 0.30
2017-09-30 0.23
2017-06-30 0.15
2017-03-31 0.20

*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 T&G Global will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether T&G Global is trading at T&G Global'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. T&G Global'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 Food, Beverage & Tobacco companies here
  3. T&G Global'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 T&G Global'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 New Zealand market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the New Zealand 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.
T&G Global 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.

Past Performance

  How has T&G Global 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 T&G Global's growth in the last year to its industry (Food).
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.
  • T&G Global's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • T&G Global's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • T&G Global's 1-year earnings growth is negative, it can't be compared to the NZ Food industry average.
Earnings and Revenue History
T&G Global'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 T&G Global Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NZSE:TGG Past Revenue, Cash Flow and Net Income Data
Date (Data in NZD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,216.41 0.90 164.78
2019-06-30 1,167.36 4.05 168.71
2019-03-31 1,177.78 4.85 168.51
2018-12-31 1,188.20 5.66 168.31
2018-09-30 1,163.42 17.96 167.29
2018-06-30 1,138.63 30.27 166.28
2018-03-31 1,103.39 33.65 164.39
2017-12-31 1,068.15 37.03 162.50
2017-09-30 1,014.04 27.67 154.11
2017-06-30 959.93 18.31 145.72
2017-03-31 915.85 24.39 139.63
2016-12-31 871.77 30.48 133.53
2016-09-30 868.20 29.52 131.70
2016-06-30 864.64 28.55 129.86
2016-03-31 838.70 23.33 126.56
2015-12-31 812.76 18.10 123.27
2015-09-30 785.39 14.62 115.84
2015-06-30 758.01 11.15 108.42
2015-03-31 742.52 10.50 101.67
2014-12-31 727.02 9.85 94.92
2014-09-30 715.19 9.79 109.73
2014-06-30 703.37 9.72 124.53
2014-03-31 717.79 12.94 106.59
2013-12-31 732.22 16.16 88.64
2013-09-30 716.50 5.98 58.58
2013-06-30 700.77 -4.20 28.52

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

Health

 How is T&G Global'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 T&G Global's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • T&G Global is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • T&G Global's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of T&G Global'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 3x 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 T&G Global Company Filings, last reported 3 months ago.

NZSE:TGG Past Debt and Equity Data
Date (Data in NZD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 474.40 97.11 36.84
2019-06-30 414.95 240.15 44.57
2019-03-31 414.95 240.15 44.57
2018-12-31 413.62 154.63 36.85
2018-09-30 413.62 154.63 36.85
2018-06-30 408.94 272.69 47.05
2018-03-31 408.94 272.69 47.05
2017-12-31 425.59 185.76 26.51
2017-09-30 425.59 185.76 26.51
2017-06-30 375.37 264.24 33.02
2017-03-31 375.37 264.24 33.02
2016-12-31 346.82 152.98 17.06
2016-09-30 346.82 152.98 17.06
2016-06-30 349.04 251.38 28.02
2016-03-31 349.04 251.38 28.02
2015-12-31 320.95 173.13 13.65
2015-09-30 320.95 173.13 13.65
2015-06-30 291.63 217.70 23.63
2015-03-31 291.63 217.70 23.63
2014-12-31 276.97 132.28 15.99
2014-09-30 276.97 132.28 15.99
2014-06-30 276.97 153.56 17.81
2014-03-31 276.97 153.56 17.81
2013-12-31 268.67 70.27 22.18
2013-09-30 268.67 70.27 22.18
2013-06-30 266.94 143.23 22.60
  • T&G Global's level of debt (20.5%) 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 (48.1% vs 20.5% today).
  • Debt is well covered by operating cash flow (52.5%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess T&G Global'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. T&G Global 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 T&G Global'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%
Current annual income from T&G Global dividends.
If you bought NZ$2,000 of T&G Global shares you are expected to receive NZ$0 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?
  • Unable to evaluate T&G Global's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate T&G Global's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
NZSE:TGG 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
New Zealand Food Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 4.6%
New Zealand Market Average Dividend Yield Market Cap Weighted Average of 62 Stocks 3.8%
New Zealand Minimum Threshold Dividend Yield 10th Percentile 2.4%
New Zealand Bottom 25% Dividend Yield 25th Percentile 3.4%
New Zealand Top 25% Dividend Yield 75th Percentile 7.3%

Industry and Market average data is calculated daily.

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

NZSE:TGG Past Annualized Dividends Data
Date (Data in NZ$) Dividend per share (annual) Avg. Yield (%)
2020-02-28 0.000 0.000
2019-08-09 0.000 0.000
2019-03-07 0.120 4.447
2018-12-07 0.120 4.170
2018-03-01 0.060 1.929
2017-03-01 0.060 1.749
2016-05-04 0.120 4.058
2015-11-09 0.120 5.708
2015-04-13 0.000 0.000
2014-04-16 0.050 2.576
2012-09-12 0.000 0.000
2012-08-10 0.000 0.000
2012-03-30 0.000 0.000
2012-02-28 0.000 0.000
2011-03-30 0.060 3.487
2010-04-19 0.100 6.912

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

  • Unable to perform a dividend volatility check as T&G Global has not reported any payouts.
  • Unable to verify if T&G Global's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of T&G Global's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as T&G Global has not reported any payouts.
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 T&G Global's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 2.4%) - 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 T&G Global afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. T&G Global has a total score of 0/6, 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 T&G Global'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
Gareth Edgecombe
TENURE AS CEO 1.8 years
CEO Bio

Mr. Gareth Edgecombe serves as Chief Executive Officer of T&G Global Ltd since July 09, 2018. He served as the President of Asia Pacific at Campbell Soup Company from August 8, 2011 to November 1, 2013. Mr. Edgecombe served on Campbell's International Leadership Team and was responsible for Campbell's Australian, Asian and Pacific operations, including Arnott's biscuits and Campbell's soup. He has nearly 20 years of experience in consumer packaged goods. Prior to joining Campbell, he served as President of South Pacific business unit at The Coca-Cola Company since 2007. He was responsible for the strategic direction, marketing, and product strategy for the $3 billion Coca-Cola business in Australia, New Zealand, and the Pacific Islands. He also managed franchise territory agreements and led franchise bottling partners in those territories. He began his career in 1992 with Coca-Cola Amatil (New Zealand) Ltd. and then moved to New Zealand Dairy Foods Limited, where he held increasingly senior sales and general management positions, including General Manager of the Puhoi Valley Cheese Company. He joined Coca-Cola in 2003 as Country Manager of New Zealand. He moved to Australia in 2005 to become Franchise Director, and then Region Manager. He served as a Director of Arnott's New Zealand Limited. He served as Director of Arnotts Biscuits Holdings Pty Limited until October 31, 2013. Mr. Edgecombe is a first-class honors graduate of the University of Waikato in Hamilton, New Zealand, where he earned his bachelor's degree in management studies, marketing and communications.

CEO Compensation
  • Insufficient data for Gareth to compare compensation growth.
  • Insufficient data for Gareth to establish whether their remuneration is reasonable compared to companies of similar size in New Zealand.
Management Team Tenure

Average tenure of the T&G Global management team in years:

0.8
Average Tenure
  • The average tenure for the T&G Global management team is less than 2 years, this suggests a new team.
Management Team

Gareth Edgecombe

TITLE
Chief Executive Officer
TENURE
1.8 yrs

Bastian Streit

TITLE
Chief Financial Officer
TENURE
1.5 yrs

Craig Betty

TITLE
Director of Operations
TENURE
0.5 yrs

Peter Landon-Lane

TITLE
Director of Innovation & Technical
TENURE
0.3 yrs

Rachel Stotter

TITLE
Director International Sales
TENURE
0.8 yrs

Jodi Reddell

TITLE
Director Category & Marketing
TENURE
0.8 yrs

Heather Kean

TITLE
Director of People & Culture
TENURE
1.8 yrs

Andrew Keaney

TITLE
Managing Director of New Zealand Produce
TENURE
1.5 yrs

Adrienne Sharp

TITLE
Head of Corporate Affairs
TENURE
0.3 yrs

Doug Bygrave

TITLE
Company Secretary & Group Treasurer
Board of Directors Tenure

Average tenure of the T&G Global board of directors in years:

3
Average Tenure
  • The tenure for the T&G Global board of directors is about average.
Board of Directors

Klaus Lutz

TITLE
Chairman
COMPENSATION
NZ$43K
AGE
60
TENURE
8 yrs

Carol Campbell

TITLE
Independent Director
COMPENSATION
NZ$98K
TENURE
9.8 yrs

Andreas Helber

TITLE
Non Independent Director
COMPENSATION
NZ$34K
TENURE
8 yrs

Wah Mau

TITLE
Non-Independent Director
TENURE
3 yrs

Ralf Priske

TITLE
Non-independent Director
TENURE
2.3 yrs

Rob Hewett

TITLE
Independent Director
TENURE
1.7 yrs

Benedikt Mangold

TITLE
Non-Independent Director
TENURE
0.3 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 (NZ$) Value (NZ$)
X
Management checks
We assess T&G Global'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. T&G Global 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

Investors Who Bought T&G Global (NZSE:TGG) Shares Five Years Ago Are Now Up 38%

Furthermore, you'd generally like to see the share price rise faster than the market But T&G Global Limited (NZSE:TGG) has fallen short of that second goal, with a share price rise of 38% over five years, which is below the market return. … During five years of share price growth, T&G Global actually saw its EPS drop 16% per year. … T&G Global's TSR over the last 5 years is 54%; better than its share price return.

Simply Wall St -

Is T&G Global Limited's (NZSE:TGG) ROE Of 2.5% Concerning?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for T&G Global: 2.5% = NZ$5.7m ÷ NZ$414m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does T&G Global Have A Good Return On Equity? … In my book the highest quality companies have high return on equity, despite low debt.

Simply Wall St -

Should T&G Global Limited (NZSE:TGG) Focus On Improving This Fundamental Metric?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for T&G Global: 2.5% = NZ$5.7m ÷ NZ$414m (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does T&G Global Have A Good Return On Equity? … T&G Global's Debt And Its 2.5% ROE Although T&G Global does use debt, its debt to equity ratio of 0.37 is still low.

Simply Wall St -

How Do T&G Global Limited’s (NZSE:TGG) Returns On Capital Compare To Peers?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for T&G Global: 0.026 = NZ$16m ÷ (NZ$748m - NZ$144m) (Based on the trailing twelve months to December 2018.) Therefore, T&G Global has an ROCE of 2.6%. … How T&G Global's Current Liabilities Impact Its ROCE Liabilities, such as supplier bills and bank overdrafts, are referred to as current liabilities if they need to be paid within 12 months. … Our Take On T&G Global's ROCE While that is good to see, T&G Global has a low ROCE and does not look attractive in this analysis.

Simply Wall St -

Is T&G Global Limited (NZSE:TGG) A Good Dividend Stock?

Historically, T&G Global Limited (NZSE:TGG) has paid dividends to shareholders, and these days it yields 4.5%. … Does T&G Global tick all the boxes of a great dividend stock? … View our latest analysis for T&G Global

Simply Wall St -

How Do T&G Global Limited’s (NZSE:TGG) Returns On Capital Compare To Peers?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Should We Worry About T&G Global Limited's (NZSE:TGG) P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

4 Days Left To Cash In On T&G Global Limited (NZSE:TGG) Dividend

On the 31 December 2018, T&G Global Limited (NZSE:TGG) will be paying shareholders an upcoming dividend amount of NZ$0.06 per share. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Has it paid dividend every year without dramatically reducing payout in the past?

Simply Wall St -

Is T&G Global Limited (NZSE:TGG) A Strong Dividend Stock?

Historically, T&G Global Limited (NZSE:TGG) has paid a dividend to shareholders. … Let's take a look at T&G Global in more detail. … Check out our latest analysis for T&G Global

Simply Wall St -

Should You Be Worried About T&G Global Limited's (NZSE:TGG) 4.1% Return On Equity?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every NZ$1 worth of shareholders' equity, it generated NZ$0.041 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

T&G Global Limited, together with its subsidiaries, grows, markets, distributes, and exports fresh produce under the Jazz, Envy, Pacific Rose, enza, freshfields, sunfirst and Beekist brands. It operates through Pipfruit, International Produce, New Zealand Produce, Processed Foods, and Other segments. The company offers apples, pears, grapes, kiwifruit, asparagus, and tomatoes; citrus products, including lemons, mandarins, navel oranges, limes, grapefruit, and tangelos; pipfruits and cherries; blueberries, strawberries, and kiwi berries; and other stone fruits. It also provides artichokes, aubergine, beans, beetroot, broccoli, Brussels sprouts, cabbage, capsicums, carrots, cauliflower, celery, chilli peppers, zucchini, cucumbers, fennel, garlic, ginger, kumara, leeks, lettuce, melons, mushrooms, onions, parnsips, peas, potatoes, pumpkins, radishes, rhubarb, silverbeet, spinach, spring onions, sprouted beans and seeds, swedes, sweetcorn, taro, turnips, watercress, witloof, and yams. In addition, the company cool stores apples and pears; manufactures, markets, and sells processed foods; and engages in the flower auction, horticulture, fruit and produce wholesale distribution, pipfruit promotion, and fruit variety development and propagation activities. Further, it is involved in processed foods broking, leased property holding, water supply, and apple juice concentrate production businesses, as well as the provision of in-market and fruit import, market, and shared services. Additionally, the company provides transport services through a fleet of 55 trucks and 45 trailers. It trades in approximately 100 types of fruits and vegetables in approximately 60 countries. The company was formerly known as Turners & Growers Limited and changed its name to T&G Global Limited in May 2015. The company was founded in 1883 and is headquartered in Auckland, New Zealand. T&G Global Limited is a subsidiary of BayWa Aktiengesellschaft.

Details
Name: T&G Global Limited
TGG
Exchange: NZSE
Founded: 1883
NZ$303,907,145
122,543,204
Website: http://tandg.global
Address: T&G Global Limited
1 Clemow Drive,
Mount Wellington,
Auckland,
1060,
New Zealand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NZSE TGG Ordinary Shares New Zealand Stock Exchange NZ NZD 29. Sep 2004
Number of employees
Current staff
Staff numbers
1,500
T&G Global employees.
Industry
Agricultural Products
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 10:31
End of day share price update: 2020/04/07 00:00
Last earnings filing: 2020/02/28
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.