Thl.Nz
THL operates in the passenger transportation sector, providing ground and sea transportation services, primarily generating revenue through ticket sales and transportation contracts.
Business. THL operates in the passenger transportation sector, providing ground and sea transportation services, primarily generating revenue through ticket sales and transportation contracts.
Analyst recommendations
5 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
THL operates in the passenger transportation sector, providing ground and sea transportation services, primarily generating revenue through ticket sales and transportation contracts.
THL's capital structure is characterized by a debt-to-equity ratio of 1.31, indicating a moderate reliance on debt financing. The company holds NZD 49.7 million in cash and equivalents, but this is significantly lower than its long-term debt of NZD 759.6 million, resulting in a negative net cash position. The liquidity risk is rated as medium, with a current ratio of 1.08, suggesting limited short-term liquidity cushion.
Profitability metrics show a return on equity of -4.46% and a return on assets of -1.64%, both below the industry median for passenger transportation. Operating income of NZD 41.7 million is modest compared to revenue of NZD 937.2 million, indicating low operating margins. The company reported a net loss of NZD 25.8 million, which is a concern for long-term sustainability.
THL's revenue is concentrated in its core transportation services, with no disclosed geographic diversification. The company's exposure to regional economic conditions and regulatory changes in its primary markets could pose a concentration risk. No material revenue is attributed to international operations, and the company does not report segment-specific revenue figures.
Looking ahead, THL's revenue is expected to remain flat or decline slightly in the next fiscal year, with no significant growth drivers identified in the current outlook. The company's capital expenditure of NZD 38.4 million is primarily directed toward maintaining existing infrastructure, with no major expansion projects disclosed. Analysts have assigned a mean price target of NZD 3.27, with a median of NZD 3.29, reflecting cautious expectations.
The company faces several risk factors, including its negative net cash position and reliance on debt. The risk assessment indicates a low probability of dilution, with no recent share issuance or shelf registration activity reported. However, the company's net loss and negative return on equity suggest potential pressure to raise additional capital in the future.
Recent filings and transcripts do not highlight any material events or strategic shifts. The company has not disclosed any major regulatory changes or new contracts that would significantly impact its operations. Analysts have issued a mean recommendation of 1.60, with two strong-buy and three buy ratings, but no hold or sell ratings, indicating a generally positive sentiment despite the company's current financial performance.
- THL's capital structure is heavily leveraged, with a debt-to-equity ratio of 1.31 and a negative net cash position.
- The company is unprofitable, with a return on equity of -4.46% and a net loss of NZD 25.8 million.
- Revenue is concentrated in a single business line, with no geographic diversification disclosed.
- Analysts have a cautiously positive outlook, with a mean price target of NZD 3.27 and no sell ratings.
- The company's liquidity risk is rated as medium, and its capital expenditures are focused on maintenance rather than growth.
Bull / Bear case
analysis pipelineIn focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,20 |
| Revenue | —no estimate | —no estimate | 957,1M NZD |
| Operating income | —no estimate | —no estimate | 106,8M NZD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Capex To Revenuecapital_expenditure / revenue
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Cash Conversion Ratiooperating_cash_flow / net_income
- THL.NZ Market data — financials · 2026-05-29
- Tourism Holdings Ltd Market data — analyst estimates · 2026-05-29