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Corporate Travel Management Limited
(Sydney:CTD)
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Rating:58Neutral
Price Target:
AU$2.50
â–Ľ(-84.44% Downside)
Action:N/A
Date:09/23/26
The score is anchored by solid financial footing (low leverage and mostly positive cash generation), but is materially held back by extremely bearish technical momentum and a valuation that does not appear compelling versus the company’s recent earnings volatility and thin latest margins.
Positive Factors
Conservative balance sheet
Very low leverage gives CTD financial flexibility through changing corporate travel conditions and reduces pressure from debt servicing. A sizable equity base and stable debt levels also preserve capacity to support operations, invest in technology, and pursue growth without relying heavily on external funding.
Negative Factors
Volatile profitability and thin margins
The sharp swing from a deeply negative 2025 net margin to only modest profitability in 2026 shows that earnings remain unstable. Thin current margins provide limited protection against operational pressures and leave less room for reinvestment, cost increases, or weaker travel activity.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives CTD financial flexibility through changing corporate travel conditions and reduces pressure from debt servicing. A sizable equity base and stable debt levels also preserve capacity to support operations, invest in technology, and pursue growth without relying heavily on external funding.
Read all positive factors
Corporate Travel Management Limited (CTD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$342.40M
Dividend Yield136.9%
Average Volume (3M)3.14M
Price to Earnings (P/E)18.3
Beta (1Y)0.85
Revenue Growth6.84%
EPS GrowthN/A
CountryAU
Employees3,192
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)0.13
Shares Outstanding146,325,740
10 Day Avg. Volume792,243
30 Day Avg. Volume3,139,817
Financial Highlights & Ratios
PEG Ratio-1.17
Price to Book (P/B)3.95
Price to Sales (P/S)3.38
P/FCF Ratio87.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.68Price Target Upside-83.34% Downside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.36
Revenue Forecast (FY)AU$689.91M
Corporate Travel Management Limited Business Overview & Revenue Model
Company Description
Corporate Travel Management Limited is a specialized firm offering integrated travel solutions, primarily orchestrating the procurement and fulfillment of travel requirements for corporate clients. Its global presence is marked by operations acros...
How the Company Makes Money
CTD primarily makes money by managing corporate travel programs and earning revenue tied to the booking and servicing of travel. Key revenue streams typically include: (1) Travel management/service fees charged to clients for operating and support...
Corporate Travel Management Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
72
Positive
Cash Flow
70
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 660.09M | 635.77M | 620.58M | 650.40M | 377.36M |
| Gross Profit | 185.13M | 626.76M | 215.29M | 129.66M | 23.37M |
| EBITDA | 106.05M | -298.83M | 178.34M | 158.29M | 37.21M |
| Net Income | 17.70M | -348.55M | 84.45M | 77.57M | 3.10M |
Balance Sheet | |||||
| Total Assets | 1.27B | 1.31B | 1.64B | 1.76B | 1.55B |
| Cash, Cash Equivalents and Short-Term Investments | 106.90M | 124.00M | 134.77M | 150.99M | 142.05M |
| Total Debt | 33.56M | 27.73M | 38.78M | 38.41M | 48.35M |
| Total Liabilities | 692.32M | 730.95M | 452.41M | 572.38M | 467.03M |
| Stockholders Equity | 565.00M | 562.14M | 1.17B | 1.17B | 1.07B |
Cash Flow | |||||
| Free Cash Flow | 25.51M | 140.12M | 121.63M | 43.49M | 47.95M |
| Operating Cash Flow | 29.60M | 141.57M | 126.77M | 80.30M | 73.92M |
| Investing Cash Flow | -29.98M | -37.68M | -46.73M | -45.70M | -114.71M |
| Financing Cash Flow | -8.76M | -116.38M | -94.40M | -27.73M | 88.92M |
Corporate Travel Management Limited Technical Analysis
Negative
16.07
Price Trends
8.67
Negative
12.37
Negative
14.22
Negative
Market Momentum
-1.59
Negative
18.07
Positive
31.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CTD, the sentiment is Negative. The current price of 16.07 is above the 20-day moving average (MA) of 2.41, above the 50-day MA of 8.67, and above the 200-day MA of 14.22, indicating a bearish trend. The MACD of -1.59 indicates Negative momentum. The RSI at 18.07 is Positive, neither overbought nor oversold. The STOCH value of 31.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CTD.
Corporate Travel Management Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$222.61M | 136.00 | 0.31% | 7.33% | 8.32% | -96.34% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | AU$1.12B | 23.23 | 8.98% | 5.98% | 20.01% | -80.80% | |
59 Neutral | AU$2.07B | 14.45 | 13.09% | 4.09% | 2.55% | 42.88% | |
58 Neutral | AU$342.40M | 18.31 | 3.11% | 136.90% | 6.84% | ― | |
58 Neutral | AU$67.12M | -222.50 | -0.20% | 2.81% | -3.52% | 69.23% |
* Consumer Cyclical Sector Average
AU:CTD
Corporate Travel Management Limited
2.35
-13.72
-85.38%
AU:FLT
Flight Centre Travel Group Limited
10.23
-1.04
-9.21%
AU:WEB
WEB Travel Group
3.40
-0.99
-22.55%
AU:HLO
Helloworld Travel Ltd
1.36
-0.21
-13.21%
AU:EXP
Experience Co Ltd
0.09
-0.06
-40.67%
Corporate Travel Management Limited Corporate Events
Corporate Travel Management to Hold Combined 2025 and 2026 AGMs in November 2026
Oct 8, 2026
Corporate Travel Management Limited has scheduled its 2025 and 2026 Annual General Meetings for 12 November 2026 at the Sheraton Grand Sydney Hyde Park in Sydney, with the 2025 AGM at 10:00 a.m. and the 2026 AGM to follow immediately after. The me...
Corporate Travel Management Increases Performance Rights for Managing Director
Sep 28, 2026
Corporate Travel Management Limited has disclosed a change in Managing Director Ana Pedersen’s interests, with the issue of 250,000 additional performance rights under the company’s Omnibus Incentive Plan. The grant, which increases he...
CTM Wins Key UK Government Contract Extensions Worth ÂŁ105m
Sep 16, 2026
Corporate Travel Management has secured extensions and continuation of key UK public-sector contracts with the Home Office, Scottish Government and Cabinet Office. The renewed arrangements, viewed as strategically significant for its UK operations...
ECP Asset Management exits substantial holding in Corporate Travel Management
Sep 9, 2026
Corporate Travel Management Limited has disclosed that ECP Asset Management Pty Ltd, together with EC Pohl Co Pty Ltd and related entities, has ceased to be a substantial holder in the company as of 4 September 2026. The notice indicates a reduct...
Corporate Travel Management director boosts on-market shareholding
Sep 9, 2026
Corporate Travel Management Limited has disclosed a change in director Ana Pedersen’s interests in the company’s securities, following on-market trades conducted on 8 and 9 September 2026. The transactions resulted in the acquisition o...
Corporate Travel Management Director Sophie Mitchell Increases Indirect Shareholding
Sep 9, 2026
Corporate Travel Management Limited has disclosed a change in director Sophie Mitchell’s indirect shareholding in the company, in line with ASX listing rules and corporate governance requirements. Mitchell holds her interest through Mitchell...
Corporate Travel Management Director Jon Brett Increases Indirect Shareholding
Sep 9, 2026
Corporate Travel Management Limited has disclosed a change in director Jon Brett’s indirect shareholding, reflecting an increased personal financial stake in the company. The director holds these shares through Dalesam Pty Ltd as trustee for...
Corporate Travel Management Director Increases Indirect Shareholding
Sep 9, 2026
Corporate Travel Management Limited has disclosed a change in director Ewen Crouch’s indirect shareholding, reflecting increased personal exposure to the company’s equity. The shares are held via Wersley Investments Pty Ltd, where Crou...
AustralianSuper exits substantial holder position in Corporate Travel Management
Sep 8, 2026
AustralianSuper Pty Ltd has notified Corporate Travel Management Limited that it has ceased to be a substantial shareholder in the company as of 4 September 2026. The change follows a series of trading transactions in CTM ordinary shares conducted...
State Street Group Ceases to Be Substantial Holder in Corporate Travel Management
Sep 7, 2026
State Street Corporation, through several global asset management and trust subsidiaries, has filed a notice that it has ceased to be a substantial holder in Corporate Travel Management Limited. The filing, made under section 671B of the Corporati...
Corporate Travel Management Sets Dual AGMs for November 2026
Sep 4, 2026
Corporate Travel Management has scheduled its Annual General Meetings for the 2025 and 2026 financial years to be held consecutively on 12 November 2026. The company has set 24 September 2026 as the deadline for receiving director nominations, wit...
Corporate Travel Management Releases FY2026 Sustainability Performance Report
Sep 3, 2026
Corporate Travel Management Limited has released its FY2026 Sustainability Performance Report, outlining key sustainability disclosures for the period. The board-approved report signals a continued focus on transparency around the company’s ...
Corporate Travel Management files 2026 governance statement with ASX
Sep 3, 2026
Corporate Travel Management Limited has lodged its 2026 Appendix 4G and Corporate Governance Statement with the ASX in connection with its results for the year ended 30 June 2026. The governance statement, approved by the board and current as of 4...
Corporate Travel Management Releases FY2026 Annual Report
Sep 3, 2026
Corporate Travel Management Limited has released its FY2026 Annual Report, outlining its performance and strategic direction for the latest financial year. The publication underscores the company’s emphasis on long-term investment and its am...
CTD Shares Reinstated to ASX Quotation After Filing Annual Report
Sep 2, 2026
Trading in Corporate Travel Management Limited shares on the ASX will resume from the start of trading on 3 September 2026. The reinstatement follows the company’s lodgement of its Preliminary Final Report for the year ended 30 June 2026, re...
Corporate Travel Management Returns to Profit as Recovery Gains Pace
Sep 1, 2026
Corporate Travel Management Limited reported a solid recovery in FY26, with revenue rising 4% to $669.9 million and underlying EBITDA jumping 36% to $113.6 million. The group returned to profitability with NPAT of $17.7 million and closed the year...
Corporate Travel Management Publishes 2026 Financial and Sustainability Reports
Sep 1, 2026
Corporate Travel Management Limited has released its Financial and Sustainability Reports for the year ended 30 June 2026, detailing the Directors’ Report, consolidated financial statements and related declarations and audit opinions. The pu...
Corporate Travel Management Lodges Late Reports as ASX Suspension Continues
Aug 27, 2026
Corporate Travel Management Limited remains suspended from trading on the ASX after failing to lodge key financial reports on time, including its Preliminary Final Report for the year ended 30 June 2025. The company has now submitted its previousl...
Corporate Travel Management lodges updated ASX governance statement
Aug 27, 2026
Corporate Travel Management Limited has lodged its latest corporate governance statement for the year ended 30 June 2025, confirming compliance with ASX requirements. The statement is hosted on the company’s website and was approved by the b...
CTM Posts Higher Revenue but Holds Back Interim Dividend Amid Negative Tangible Equity
Aug 27, 2026
Corporate Travel Management Limited, a business travel services provider, reported a modest increase in profitability for the half-year to 31 December 2025. The group offers corporate travel management solutions to organisations and continues to o...
Corporate Travel Management Completes A$99 Million On-Market Share Buy-Back
Aug 27, 2026
Corporate Travel Management Limited has completed its on-market share buy-back program for its ordinary fully paid shares, originally notified in October 2023 and now formally closed as of 27 August 2026. The company repurchased a total of 7,388,8...
Corporate Travel Management Publishes FY2025 Annual Report
Aug 27, 2026
Corporate Travel Management Limited has released its FY2025 Annual Report, providing shareholders and the market with detailed information on the company’s performance over the financial year. The publication of the report marks a key disclo...
Corporate Travel Management Releases FY25 Results and FY26 Outlook
Aug 27, 2026
Corporate Travel Management has released its results presentation covering the full year FY25 ended 30 June 2025 and the half year FY26 to 31 December 2025. The update, authorised by the board, consolidates the company’s recent financial per...
Corporate Travel Management absorbs heavy goodwill hit as remediation and earnings recovery progress
Aug 27, 2026
Corporate Travel Management has reported a FY25 net loss after tax of $346.7 million, driven largely by $357.7 million in goodwill impairments, even as underlying EBITDA remained positive at $83.6 million and client retention and new business wins...
Corporate Travel Management Posts Heavy FY25 Loss Despite Flat Revenue
Aug 27, 2026
Corporate Travel Management Limited reported revenue of $635.8 million for the year ended 30 June 2025, broadly flat compared with the prior year. However, the group swung to a substantial net loss attributable to members of $348.5 million, versus...
Corporate Travel Management Sets Date for FY25 and 1HY26 Results Briefing
Aug 27, 2026
Corporate Travel Management Limited has announced it will release its financial results for FY25 and the first half of FY26 on Thursday, 27 August 2026. The disclosure underscores the company’s regular reporting cadence and offers investors ...
Corporate Travel Management Secures New Debt Facilities as It Books European Liabilities and ANZ Impairment
Aug 26, 2026
Corporate Travel Management has secured new $175 million debt facilities from PEP Credit, replacing its existing $75 million corporate facility and supported by a $65 million bank guarantee line from existing lenders. The expanded financing is int...
CTM Secures Major UK Customer Settlements Ahead of ASX Reinstatement Bid
Aug 20, 2026
Corporate Travel Management has reached binding agreements with key affected UK customers covering 86% of the previously disclosed estimated revenue reversal of GBP 118 million, resulting in agreed refunds totaling GBP 87 million to be paid in sta...
Corporate Travel Management Names New Company Secretaries to Bolster Governance
Aug 13, 2026
Corporate Travel Management has appointed Chantel Tse and Ivana Kovacevic as company secretaries, effective 14 August 2026, strengthening its governance structure across its global operations. Tse, who serves as Deputy General Counsel, will also a...
CTM Signs Five-Year Global Tech Partnership with Amadeus
Aug 12, 2026
Corporate Travel Management Limited has entered a five-year global partnership with Amadeus IT Group, selecting Amadeus as its preferred Global Distribution System provider across all regions. The deal aims to support CTM’s digital transform...
Corporate Travel Management Wins Further UK MoD Afghan Resettlement Contract
Aug 10, 2026
Corporate Travel Management Limited has secured a further contract from the UK Ministry of Defence to provide accommodation and associated services for the Afghan Resettlement Programme. The company has been the exclusive provider of these service...
Corporate Travel Management Lapses 427,431 Performance Rights After Conditions Not Met
Aug 7, 2026
Corporate Travel Management Limited has announced the lapse of 427,431 performance rights, which have ceased due to conditions not being met or becoming incapable of being satisfied. The affected securities, classified as performance rights under ...
Corporate Travel Management Discloses New Director Ana Pedersen’s Initial Holdings
Jul 29, 2026
Corporate Travel Management Limited has announced the appointment of Ana Pedersen as a director of the company, effective 23 July 2026. The disclosure outlines her initial interests in the company’s securities, including 828 ordinary shares ...
Corporate Travel Management Reports Lapse of Performance Rights
Jul 27, 2026
Corporate Travel Management Limited has notified the market of the cessation of 23,856 performance rights, which lapsed after the specified conditions were not met or became incapable of being satisfied as of June 30, 2026. The lapse of these cond...
CTM Confirms Ana Pedersen as Permanent Group CEO
Jul 23, 2026
Corporate Travel Management has confirmed the permanent appointment of Ana Pedersen as Managing Director and Group Chief Executive Officer, effective 23 July 2026. Pedersen, who has served as Acting Group CEO since February and previously held the...
ASX Warns Corporate Travel Management on Suspension Deadlines and Delisting Risk
Jul 10, 2026
Corporate Travel Management Limited has been listed by the ASX among long-term suspended entities that have failed to lodge multiple periodic financial reports, including preliminary final, full-year and half-year accounts for the 2025–26 re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.