TREASURY WINE ESTATES LIMITED (TWE)
Share Price Analysis and Chart

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TWE - TREASURY WINE ESTATES LIMITED

FNArena Sector : Food, Beverages & Tobacco
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 2.66
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Treasury Wine Estates is Australia's largest wine producer and distributor and one of the world's largest. Formerly operating as the wine division of international brewing company Foster's Group until May 2011, it was de-merged into a separate company. Owns iconic brands incl Penfolds, globally known for its luxurious Grange production.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$10.36

07 Dec
2023

-0.310

OPEN

$10.58

-2.91%

HIGH

$10.58

3,379,103

LOW

$10.34

TARGET
$13.14 26.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AMC . AVG . BFC . CKF . COL . DMP . E33 . EDV . GDA . ING . LRK . MBH . MCL . MMM . MTS . RFG . SGLLV . TSI . WOA . WOW . YOW .
FNARENA'S MARKET CONSENSUS FORECASTS
TWE: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 34.9 53.4 xxx
DPS (cps) xxx 34.6 36.3 xxx
EPS Growth xxx - 3.3% 52.9% xxx
DPS Growth xxx 12.9% 4.9% xxx
PE Ratio xxx N/A 19.6 xxx
Dividend Yield xxx N/A 3.5% xxx
Div Pay Ratio(%) xxx 99.3% 68.1% xxx

Dividend yield today if purchased 3 years ago: 3.73%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.31

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 31/08 - ex-div 17c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx34.9
DPS All xxxxxxxxxxxxxxx34.6
Sales/Revenue xxxxxxxxxxxxxxx2,488.3 M
Book Value Per Share xxxxxxxxxxxxxxx529.5
Net Operating Cash Flow xxxxxxxxxxxxxxx272.0 M
Net Profit Margin xxxxxxxxxxxxxxx10.23 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx6.66 %
Return on Invested Capital xxxxxxxxxxxxxxx4.69 %
Return on Assets xxxxxxxxxxxxxxx3.70 %
Return on Equity xxxxxxxxxxxxxxx6.66 %
Return on Total Capital xxxxxxxxxxxxxxx10.26 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-217.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx251 M
Long Term Debt xxxxxxxxxxxxxxx1,687 M
Total Debt xxxxxxxxxxxxxxx1,938 M
Goodwill - Gross xxxxxxxxxxxxxxx990 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx566 M
Price To Book Value xxxxxxxxxxxxxxx2.10

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx249.0 M
Capex % of Sales xxxxxxxxxxxxxxx10.01 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,414 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx493 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx-

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.6

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

02/11/2023

3

Hold

$11.50

11.00%

Treasury Wine Estates has purchased US luxury winemaker Daou Vineyards for A$1.5bn, to be funded by a $157m placement to the current Daou owners; a $825m entitlement offer and $490m debt.

The deal is expected to be finalised by year-end.

After accounting for dilution, Ord Minnett considers the deal to be broadly neutral and considers the entitlements to be attractive on valuation grounds.

The broker expects a contingent earn-out of up to US$100m, payable over three years, will be paid in full, requiring a compound annual growth rate of roughly 11%.

Hold rating and $11.50 target price retained.

FORECAST
Ord Minnett forecasts a full year FY24 dividend of 36.00 cents and EPS of 49.60 cents.
Ord Minnett forecasts a full year FY25 dividend of 43.00 cents and EPS of 61.00 cents.

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >

TWE STOCK CHART

FNArena News on TWE

1
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Dec 08 2023 - Weekly Reports
2
Rudi’s View: Bear&Bull Market To Continue (?) In 2024

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3
Australian Broker Call *Extra* Edition – Nov 14, 2023

Nov 14 2023 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Nov 09, 2023

Nov 09 2023 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 27-10-23

Oct 30 2023 - Weekly Reports

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