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Tourism Holdings Limited
(THL)
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Rating:58Neutral
Price Target:
$3.00
▲(36.36% Upside)
Action:N/A
Date:10/05/26
The score is driven primarily by improving financial performance in 2026 (profit and cash flow recovery and strong operating margins), tempered by leverage, uneven cash conversion, and recent revenue decline. Technicals are mildly supportive with price above key moving averages and a positive MACD, while valuation is reasonable with a mid-range P/E and a solid dividend yield.
Positive Factors
Profitability recovery
The return to profitability and strong underlying earnings growth indicate that THL has regained operating traction after a weaker period. If rental demand and cost discipline persist, the improved earnings base can support reinvestment, debt reduction, and more resilient shareholder returns.
Negative Factors
Elevated leverage
Debt remains higher than equity, leaving THL more sensitive to downturns in travel demand and fleet-related earnings. Although leverage improved from 2025, the capital structure can still constrain investment capacity and increase the financial impact of weaker operating conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability recovery
The return to profitability and strong underlying earnings growth indicate that THL has regained operating traction after a weaker period. If rental demand and cost discipline persist, the improved earnings base can support reinvestment, debt reduction, and more resilient shareholder returns.
Read all positive factors
Tourism Holdings Limited (THL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$615.76M
Dividend Yield4.44%
Average Volume (3M)133.84K
Price to Earnings (P/E)19.3
Beta (1Y)1.70
Revenue Growth-9.00%
EPS GrowthN/A
CountryNZ
Employees2,119
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Recreational Vehicles
Share Statistics
EPS (TTM)0.14
Shares Outstanding221,495,530
10 Day Avg. Volume72,104
30 Day Avg. Volume133,842
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)1.00
Price to Sales (P/S)0.75
P/FCF Ratio10.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$3.72Price Target Upside69.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.25
Revenue Forecast (FY)$919.10M
Tourism Holdings Limited Business Overview & Revenue Model
Company Description
Tourism Holdings Limited (THL), an Auckland, New Zealand-headquartered company incorporated in 1984, is a prominent tourism operator with a presence spanning Australia, New Zealand, and the United States. The enterprise functions through distinct ...
How the Company Makes Money
THL primarily makes money by renting motorhomes and campervans to travelers on short- and medium-term bookings. Rental revenue is generated through daily/weekly hire charges that vary by vehicle class, seasonality, booking lead time, and trip dura...
Tourism Holdings Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
55
Neutral
Cash Flow
52
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 852.87M | 937.23M | 921.73M | 609.98M | 345.75M |
| Gross Profit | 323.69M | 570.63M | 547.55M | 373.23M | 194.97M |
| EBITDA | 253.36M | 145.95M | 189.62M | 159.09M | 53.46M |
| Net Income | 32.51M | -25.77M | 39.38M | 49.86M | -1.48M |
Balance Sheet | |||||
| Total Assets | 1.58B | 1.57B | 1.50B | 1.23B | 595.83M |
| Cash, Cash Equivalents and Short-Term Investments | 46.51M | 49.88M | 56.87M | 70.56M | 38.82M |
| Total Debt | 692.88M | 759.60M | 650.16M | 479.53M | 179.92M |
| Total Liabilities | 937.08M | 997.00M | 880.57M | 673.17M | 264.16M |
| Stockholders Equity | 641.08M | 577.88M | 616.89M | 561.38M | 331.67M |
Cash Flow | |||||
| Free Cash Flow | 62.43M | -13.81M | -111.73M | -67.58M | -29.16M |
| Operating Cash Flow | 71.56M | 28.56M | -95.64M | -56.44M | -21.62M |
| Investing Cash Flow | 40.55M | -41.72M | -6.68M | 93.08M | 15.78M |
| Financing Cash Flow | -117.41M | 5.94M | 82.50M | -3.76M | 3.48M |
Tourism Holdings Limited Technical Analysis
Positive
2.20
Price Trends
2.75
Positive
2.64
Positive
2.46
Positive
Market Momentum
0.04
Negative
49.53
Neutral
41.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NZ:THL, the sentiment is Positive. The current price of 2.2 is below the 20-day moving average (MA) of 2.77, below the 50-day MA of 2.75, and below the 200-day MA of 2.46, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 49.53 is Neutral, neither overbought nor oversold. The STOCH value of 41.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NZ:THL.
Tourism Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $615.76M | 19.33 | 5.14% | 4.44% | -9.00% | ― | |
54 Neutral | $676.57M | 17.57 | 12.23% | 4.30% | 9.03% | -2.47% | |
51 Neutral | $222.75M | 21.38 | 3.61% | 10.26% | -1.92% | ― | |
50 Neutral | $739.05M | 38.35 | 1.17% | 6.45% | -1.23% | -50.97% | |
48 Neutral | $133.88M | -0.32 | -79.57% | 4.56% | 6.47% | -193.50% | |
45 Neutral | $8.83M | 20.98 | -17.64% | ― | 90.03% | -53.08% |
* Consumer Cyclical Sector Average
NZ:THL
Tourism Holdings Limited
2.77
0.19
7.41%
NZ:SKC
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0.67
-0.04
-6.34%
NZ:WHS
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0.67
-0.10
-13.64%
NZ:KMD
KMD Brands Limited
1.89
-2.48
-56.85%
NZ:TRA
Turners Automotive Group Ltd
7.38
0.63
9.35%
NZ:CCC
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0.14
-0.07
-35.71%
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.