Financials Thunderbird Entertainment Group Inc.

Equities

TBRD

CA88605U1075

Entertainment Production

Market Closed - Toronto S.E. Other stock markets 03:59:50 2024-05-31 pm EDT			5-day change	1st Jan Change
1.81 ^CAD	+5.23%		+3.43%	-21.98%

May. 23	Thunderbird Entertainment Group Swings to Profit in Fiscal Q3 Despite a Slow Recovery in the Content Creation Market	MT
May. 23	Transcript : Thunderbird Entertainment Group Inc., Q3 2024 Earnings Call, May 23, 2024

Valuation

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	65.28	60.67	201	180.3	175.9	90.17	-
Enterprise Value (EV) ¹	53.79	47.85	178.6	150.1	150.6	66.11	58.27
P/E ratio	-13.2 x	21.3 x	-	52.1 x	-34.9 x	32.9 x	17.2 x
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	1.06 x	0.75 x	1.8 x	1.21 x	1.06 x	0.57 x	0.51 x
EV / Revenue	0.87 x	0.59 x	1.6 x	1.01 x	0.9 x	0.41 x	0.33 x
EV / EBITDA	5.23 x	3.1 x	9.11 x	7.48 x	11.8 x	4.33 x	3.12 x
EV / FCF	-4.72 x	6.58 x	14.5 x	10.8 x	34.8 x	-76.1 x	7.44 x
FCF Yield	-21.2%	15.2%	6.88%	9.27%	2.88%	-1.31%	13.4%
Price to Book	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	46,631	46,671	48,795	49,385	49,983	49,818	-
Reference price ²	1.400	1.300	4.120	3.650	3.520	1.810	1.810
Announcement Date	10/21/19	10/15/20	10/20/21	10/20/22	10/5/23	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	61.48	81.29	111.5	149	166.7	159.5	177.7
EBITDA ¹	10.29	15.45	19.61	20.06	12.76	15.26	18.69
EBIT	-	-	-	19.1	-	-	-
Operating Margin	-	-	-	12.82%	-	-	-
Earnings before Tax (EBT)	-	-	-	5.876	-	-	-
Net income ¹	-3.829	3.043	-	3.598	-5.011	2.863	5.354
Net margin	-6.23%	3.74%	-	2.41%	-3.01%	1.79%	3.01%
EPS ²	-0.1060	0.0610	-	0.0700	-0.1010	0.0550	0.1050
Free Cash Flow ¹	-11.4	7.277	12.29	13.92	4.331	-0.869	7.837
FCF margin	-18.54%	8.95%	11.02%	9.34%	2.6%	-0.54%	4.41%
FCF Conversion (EBITDA)	-	47.09%	62.68%	69.37%	33.94%	-	41.93%
FCF Conversion (Net income)	-	239.14%	-	386.8%	-	-	146.38%
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	10/21/19	10/15/20	10/20/21	10/20/22	10/5/23	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	32.95	36.85	44.12	43.75	47.96	37.28	37.74	33.6	44.54	35.37	46.7
EBITDA ¹	4.958	6.394	2.409	4.065	4.333	3.674	0.687	2.488	3.904	3.347	4.978
EBIT	5.057	6.352	1.761	-	-	-	-	-	-	-	-
Operating Margin	15.35%	17.24%	3.99%	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	2.345	3.168	-2.402	-	-	-	-	-	-	-	-
Net income	1.393	2.138	-1.819	-	-	-	-	-	-	-	-
Net margin	4.23%	5.8%	-4.12%	-	-	-	-	-	-	-	-
EPS	-	0.0410	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/24/22	5/16/22	10/20/22	11/17/22	2/23/23	5/25/23	10/5/23	11/29/23	2/29/24	5/23/24	-

¹CAD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	-	-
Net Cash position ¹	11.5	12.8	22.4	30.2	25.4	24.1	31.9
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-11.4	7.28	12.3	13.9	4.33	-0.87	7.84
ROE (net income / shareholders' equity)	-	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex	2.82	-	-	-	-	-	-
Capex / Sales	4.59%	-	-	-	-	-	-
Announcement Date	10/21/19	10/15/20	10/20/21	10/20/22	10/5/23	-	-

¹CAD in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Thunderbird Entertainment Group Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.81 CAD

Average target price

2.875 CAD

Spread / Average Target

+58.84%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Movie, TV Production & Distribution

	1st Jan change	Capi.
THUNDERBIRD ENTERTAINMENT GROUP INC.	-21.98%	66.09M
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MANGO EXCELLENT MEDIA CO., LTD.	-8.25%	5.97B
TOHO CO., LTD.	+4.07%	5.41B
MADISON SQUARE GARDEN SPORTS CORP.	+1.55%	4.42B
BANIJAY GROUP N.V.	+8.28%	4.2B
BEIJING ENLIGHT MEDIA CO., LTD.	+11.53%	3.66B
CHINA RUYI HOLDINGS LIMITED	+23.70%	3.29B
CHINA FILM CO., LTD.	-6.05%	2.96B
LIONSGATE STUDIOS CORP.	-23.58%	2.4B

Movie, TV Production & Distribution