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THG Thg Plc

65.00
3.00 (4.84%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Thg Plc LSE:THG London Ordinary Share GB00BMTV7393 ORD GBP0.005
  Price Change % Change Share Price Shares Traded Last Trade
  3.00 4.84% 65.00 6,272,068 16:35:29
Bid Price Offer Price High Price Low Price Open Price
65.25 65.40 66.00 61.55 63.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc Retail Stores, Nec 2.05B -248.37M -0.1911 -3.42 849.95M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:35:09 O 44,780 65.23 GBX

Thg (THG) Latest News (5)

Thg (THG) Discussions and Chat

Thg Forums and Chat

Date Time Title Posts
23/4/202416:39The Hut Group65,717
21/4/202420:32Rivvy divvy3
14/4/202418:01THG with better charts 1,038
25/10/202320:08test-
25/10/202320:04test-

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Thg (THG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16:35:2065.2344,78029,209.99O
16:31:1264.44211,439136,244.95O
16:26:3365.37496,493324,552.51O
16:17:4465.0041,14326,742.95O
16:13:1965.001,032670.80O

Thg (THG) Top Chat Posts

Top Posts
Posted at 23/4/2024 09:20 by Thg Daily Update
Thg Plc is listed in the Misc Retail Stores, Nec sector of the London Stock Exchange with ticker THG. The last closing price for Thg was 62p.
Thg currently has 1,299,619,277 shares in issue. The market capitalisation of Thg is £849,951,007.
Thg has a price to earnings ratio (PE ratio) of -3.42.
This morning THG shares opened at 63p
Posted at 23/4/2024 07:56 by nobbyknome1
Artificially low share price due to manipulation that can double today based on the business is actually doing well and the bears don't have anywhere to go with this now. They will all be queuing at the door to close shorts now and we know that brings ?Enjoy watching this go crazy north this morning ?
Posted at 21/4/2024 17:29 by havinthelasttoast
Fun quiz boys.

1. How much dividends can you pay out of adjusted continuing ebitda?

2. What did Charlie monger say about Ebitda as a measure of a business performance ?

3. How many times does the word adjusted get used in a typical earnings release by THG?

4. With dilution in the last three years how much would market cap have to increase just to keep up with dilution for an investor at ipo not to lose any money?

5. If a business is not growing, and the founder says it’s not for sale or break up and dilution is 3 percent how will any shareholders ever get a return ?

6. If depreciation as per the latest earnings call is 60 percent arguably accretive Maintenance as quoted , and the rest is maintenance then is ebitda a fair measure of performance as the business needs to make an extra 110m a year over reported ebitda to not lose any real money.

7. Why did the CFO in this earnings call say that most of the capex was maintenance but on the last earnings call Matt moulding said it all could be cut. Somebody is lying. Who and why.

Best answers receives 100 free THG shares.

Thanks
Posted at 18/4/2024 15:34 by sellhighandbuylow
He doesn't want you to know this, but Rivingtonstreet a.k.a ICAC a.k.a The Imperialist lost all his money on Superdry shares (SDRY).

He spent 4 weeks desperately trying to talk-up the SDRY share price with unfounded rumours of a takeover and then got absolutely slaughtered, when it didn't happen !!!
Posted at 15/4/2024 13:35 by rivingtonstreet
If a sh1t tonne of drones from Iran aimed at Israel and the threat of war cant drop the THG share price then nor can fake wealthy Toast from Worthing and the skanky Asian Fraggle from Manchester. Give it up boys your narrative sounds so desperate and you look like a proper pair of fud twins. Anyway retail picked up above consensus so the price will go north now.
Posted at 08/4/2024 08:27 by hooded claw
Havinthelasttoast7 Apr '24 - 13:22 - 64800 of 64826
0 0 0
Claw I consistently reply to you and get no reply, you make one comment and never reply again.

Therefore you have no real interest in a conversation. You have a rampers agenda. If you wish to debate anything on the company I am here to do so.

===========================

Toast, all joking aside I never meant to seem ignorant. I had a death in the family recently and it has knocked the wind out of me. Family comes first in matters like these but I always maintain an interest in the stock market but it has been once or twice every few days.

I was unaware I have a rampers agenda. I would prefer it to be a long term interest in THG opposed to a traders interest. Bob as Crafty is ramping THG with several posts a day and to me that is just as pointless as several posts a day dragging THG down but each to their own.

Regards
HC
Posted at 04/4/2024 14:49 by havinthelasttoast
Ste says you can’t have read Peel hunts note unless you are an II. What a load of tosh . Here is the first two pages.

THG BUY RETAILERS TP: 141p
DATA
RIC
Price (20/3/2024) Up/Downside Market cap
EV
3m ADV
Index
Next news
Date
Source: Peel Hunt, Refinitiv
SHARE PRICE PERFORMANCE
THG LN
THG.L 58p 144% £769m £967m £2.26m FTSE Fledgling Finals Apr-24
900 800 700 600 500 400 300 200 100
Sep 20
128 108 88 68 48 28 8 -12 -32
Price Close
Sep 21
Rel. to FTSE Fledgling (RHS)
Source: Refinitiv
TEAM
John Stevenson
+44 (0) 20 7418 8859
Sep 22
Sep 23
John.Stevenson@peelhunt.com
James Lockyer
+44 (0) 20 7418 8940
James.Lockyer@peelhunt.com
Ruben Pathmanathan
+44 (0) 20 7847 4763
Ruben.Pathmanathan@peelhunt.com
CLICK BELOW TO LISTEN TO OUR PODCAST
#Corporate client of Peel Hunt
The Huge (valuation) Gap
• Five-for-the-price-of-one – Two market-leading, cycle-neutral D2C ecommerce brands, plus a B2B enterprise tech, operations and marketing innovator.
• Compelling SOTP valuation – Each D2C business is worth considerably more than the group’s entire market cap in its own right.
• Addressing the elephants in the room – We see a turning point for cash generation, disclosure and governance unlocking shareholder value.
So why read our note? The PH Retail & Tech teams have joined forces to investigate the reasons behind THG’s weak share price. Ultimately, we were driven to initiate as we believe THG is fundamentally undervalued. We commence coverage with a Buy rating and a 141p TP.
No sugar coating it. There is no doubt that the market has strong views on THG, and most of them are negative; “It doesn’t make money”. “Trading has been terrible.” “The disclosure/governance is concerning. “I just don’t need to own it”. We found that progress has been made everywhere, but there is no doubt that there is still more to do. However, we believe now is the right time to start taking a look at this unique UK asset once again.
Why we like THG. We like the combination of: (1) a leading global Beauty ecommerce pureplay tapping into a $100bn online market; (2) a leading global D2C nutrition brand tapping a $30bn market; and (3) the end-to-end ecommerce technology, operations, and marketing solution trusted by global brands like L’Oréal, Coca Cola, and Mondelez. However, more importantly, years of investment look to be paying off: THG is now moving into a period of underlying free cash flow generation as profits increase, capital intensity reduces, and its B2B pipeline builds.
Valuation. Our strictly ‘public market’ valuation for THG comes out at £1.8bn, significantly ahead of the group’s current market cap of c.£0.8bn. In essence, you can pick up THG’s Nutrition Division on a 20% discount to its ‘public market’ valuation and get Beauty and Ingenuity thrown in for free. We initiate with a Buy recommendation and a 141p target price. This implies a 1.1x FY24E EV/sales multiple, which is actually a 50% discount to our more rounded ‘global view’ valuation. That valuation leads to our aspirational 24-month view of 272p, but this hangs on THG continuing to address the concerns we discuss in this note.
VALUATION & PERFORMANCE
Dec 23E Dec 24E Dec 25E
PE (x) - adj EV/EBITDA - adj (x) Dividend yield (%) FCY yield - adj (%) EPS - adj growth (%) ROIC (%)
n.a. n.a. n.a. 10.9 9.5 7.5 - - - 12% 6% 9%
(59.0%) (11.9%) (10.3%) (6.5%)
(28.9%) (4.8%)
SUMMARY FINANCIALS
£
Sales (m)
EBITDA - adj (m)
PBT - reported (m)
PBT - adj (m)
EPS - adj fully diluted (p) Total DPS (p)
Dec 21
2,180 170 (186)
(57) (0.8)
-
Dec 22
2,239 79 (550)
(193) (15.7) -
Dec 23E Dec 24E Dec 25E
2,044 117 (243)
(106) (6.4)
2,149 134 (167)
(94) (5.7)
2,252 168 (129)
(66) (4.0)
---
Source: Company accounts, Peel Hunt estimates, Refinitiv
This document must be treated as a marketing communication for the purposes of Directive 2014/65/EU (as enacted into the laws of England and Wales, Scotland and Northern Ireland by regulations made under the European Union Withdrawal Act 2018) as it has not been prepared in accordance with legal requirements designed to promote the independence of research; and it is not subject to any prohibition on dealing ahead of the dissemination of investment research. 1

THG
COMPANY SNAPSHOT 22 MARCH 2024
REVENUE BY SEGMENT
3000 2500 2000 1500 1000
500 0
2023E Ingenuity External Sales
2024E 2025E Nutrition Sales
2026E
2021 2022 Beauty Sales
EBITDA MARGIN - ADJ (%)
9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00%
Dec 21
Dec 22
Dec 23E
Dec 24E
|
REVENUE BY GEOGRAPHY
UK USA Europe ROW
EV/EBITDA (X)
21.2 19.2 17.2 15.2 13.2 11.2
9.2 7.2 5.2
Dec 21
+1 SD Mean -1 SD
Dec 22
Dec 23E
INCOME STATEMENT
Dec 23E Dec 24E Dec 25E
2,044.1 116.9 (50.2)
(56.0)
(106.2)
26.5
(79.6) (6.4)
2,149.1 133.9 (38.5)
(55.0)
(93.5)
23.4
(70.1) (5.7)
2,251.8 168.0 (16.5)
(50.0)
(66.5)
16.6
(49.8) (4.0)
---
BALANCE SHEET
Dec 23E Dec 24E Dec 25E
364.6 362.4 1,279.1 1,268.9 1,940.1 1,907.6
306.5 281.5 270.0 275.0 421.8 340.8
1,001.2 900.2 2,941.3 2,807.8
356.7 1,252.9 1,865.9 256.5 280.0 333.0 872.4 2,738.3
---
640.0 670.0
724.0 754.0
600.0 550.0 5.0 5.0 956.3 875.2 1,261.0 1,178.6
680.0
764.0
550.0 5.0 846.7 1,127.6
CASH FLOW
KEY RATIOS
Dec 23E Dec 24E Dec 25E
63.9 78.9
(125.0) (109.9)
3.9 (31.0)
105.0
(112.8)
(7.8)
(1.5) - --- ---
(9.6) (178.2) (483.6)
(36.0) (209.2) (488.4)
-
(7.8) (217.0) (472.7)
Dec 23E Dec 24E Dec 25E
(8.7%) 48.5% 5.7% (63.9%)
6.9
38.4% (14.3%) (10.3%)
(1.5)
5.1% 14.6% 6.2% (23.2%)
(1.8%)
(11.9%)
(11.9%) ---
(2.5%) (45.0%) (59.0%)
(0.7%) (28.9%) (28.9%)
3.3
41.4% (10.3%) (6.5%) (7.3)
5.3
41.9% (8.4%) (4.8%) (10.1)
4.8% 25.4% 7.5% (57.3%)
(£)
Sales (m)
EBITDA - adj (m)
EBIT - adj (m)
Net interest (m)
PBT - adj (m)
Taxation - adj (m)
PAT - adj (m)
EPS - adj fully diluted (p) Total DPS (p)
(£m)
Tangible fixed assets
Total intangible assets
Total non-current assets Inventory
Accounts receivable
Cash and equivalents
Total current assets
Total assets
Total short-term debt Accounts payable
Total current liabilities Total long-term debt
Other long-term liabilities Total non-current liabilities Shareholders' funds
|
Dec 21 2,179.9 169.6
(8.2)
(48.8)
(57.1)
48.2
(8.8) (0.8)
- Dec 21
335.6 1,506.3 2,153.6 466.8 263.9 536.8 1,270.2 3,423.8 0.8 676.6 783.7 491.7
-
886.9
1,753.2
Dec 22 2,239.3 78.7
(139.1)
(54.2)
(193.2)
9.8
(183.4) (15.7) -
Dec 22
360.0 1,275.8 1,974.5 373.3 264.9 473.8 1,114.7 3,089.2 31.0 636.4 749.0 623.4 4.2 1,013.4 1,326.7
(£m)
Cash flow from operations
Total capex
Free cash flow
Acquisition of subsidiary
Shares issued/(repurchased) Dividends paid
Total cash flow
Net (debt)/cash ex IFRS16 leases Net (debt)/cash inc IFRS16 leases
Sales growth (%)
EBITDA - adj growth (%)
EBITDA margin - adj (%)
EBIT - adj growth (%)
EBIT margin - adj (%)
PBT growth - adj (%)
EPS - adj growth (%)
FCF -adj per share (p)
FCF ex growth capex per share (p) Net debt/equity (%)
ROE - post tax (%)
ROCE (%)
TNAV per share (p)
Dec 21 (38.0) (189.2) (227.2) (769.9)
760.2 - (245.1)
44.4 (304.8)
Dec 21
7.8% (0.4%)
-
(8.9)
17.4%
22.5
Dec 22 (36.9) (176.4) (213.3) (5.7) (0.1)
-
(233.6) (180.6) (514.8)
Dec 22
2.7% (53.6%) 3.5%
1,588.5% (6.2%) 238.6%
1,973.8%
-
(8.4)
38.8% (35.1%) (25.2%)
4.1
Source: Company accounts, Peel Hunt estimates, Refinitiv
Source: Company accounts, Peel Hunt estimates, Refinitiv
Posted at 28/3/2024 13:29 by dyslexicsvoices
They say don't try to catch a falling knife. But there is gunpowder in THG's share price now. So don't try to catch a speeding bullets this is heading to 200's
Posted at 27/3/2024 17:53 by meleforgothisbongo
THG make us rich. No stopping THG till it reaches 500. Then back over IPO in 2025.Next stop 80, then 120 then 250Matt is running a super slick growth ship and it will be the next best thing to Amazon in years to come. Stupid idiots going to loose sh1t loads trying to stop it. THG = bullet in the gun In PH we trust Hope this is helping
Posted at 25/3/2024 22:54 by one_frankel
Paddy I used some of your commentary on my LinkedIn post today as I thought those questions being asked were pretty bang on!

Here's my post anyway buddy!

...Well folks, it was only a matter of time before the renowned 'Donkey Kong of the North' or better known as Matthew Moulding would commit to writing one of his 'Expendable' LinkedIn posts for the masses in relation to his pride and joy or better known as THG!

But firstly, to be clear Peel Hunt may have zero connections to the tripe currently but they certainly have a responsibility to their clients who may have an underlying interest in some company called THG or what they unfortunately like to call an investment sadly and hope for that 'Get out of Jail' card because if the tripes forthcoming results in April are anything to go by with those 'Live' metrics, it will be a rather tragic turn of events and then you have to work twice as hard to recover those unfortunate losses with the MarketCap so great timing hey Peel Hunt!

By the way Peel Hunt, I see you're a relatively small outfit yet you really do like churning out an abundance of analyses on various companies but is it a case of one size fits all and hope for best!

Secondly, what's even more bizarre and rather concerning is that the review has been compiled by a host of multiple analysts with various specialisms ranging from tech to consumer brands who believe that the inherent value of the tripe should be around the 300p and within two years supposedly!

On what basis exactly, Its growth of the previous years?...Its lack of discounted cash flow?... Its lack of profit earnings?...Its lack of future growth potential?...Its lack of low debt?...Its lack of a fantastic balance sheet?...Its lack of any free cash flow?...Its lack of great leadership?...Its ongoing dilution?...And that list firmly goes on folks but at least THG sorry i meant the tripe can shout from the rooftops about some redundant metric called EBITDA which has thus far given them an excuse of how best to disguise their 'Real' financials hey!

...But one thing I've surely realised is that brokers targets are just meaningless and have very little value to any investor large or small in future because they 'Always' seem to have a hidden agenda to all their hoopla so trust nothing of these incredibly deceitful firms and question everything they like to state because unfortunately they have very little integrity whatsoever and are consumed by the thoughts of the highest bidder and their ulterior motives!
Posted at 25/3/2024 13:36 by hooded claw
Toast ... I know that ... I was referring to moving more shares in there. We have differing views on how THG will turn out but neither of us can say for certain what the share price will be like in 2 years.

I have put my money where I believe it will be and you have done the same.
Thg share price data is direct from the London Stock Exchange

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