TUI's missing cashflow statement ...

[moorfield]

I've been studying TUI as a possible new addition to my portfolio, but can't find any cashflow statement in its report, which is rather a turn-off.

https://www.tuigroup.com/damfiles/defau ... e9f688.pdf

Does anyone who may be more familiar with German accounting practices know if this is par for the course? - thanks.

[TheMotorcycleBoy]

I see what you mean.

Whilst I'm not familiar with the German accounting practices, I am vaguely familiar with the relationships between operating profit (EBIT) and cash flow from operations, and FCF.

I only had a very quick look at TUI fin. statements, but I think that it should reasonably easy to convert from the P&L and BS statement into CFO and FCF.

Phil Oakley's book https://www.amazon.co.uk/How-Pick-Quali ... 0857195344 describes, and do many youtube clips. This one, for example, I watched (and have watched several other from FinTree) is actually very good.

https://www.youtube.com/watch?v=fG0C7yz0GSM

You are not completely in the dark.

Morningstar, it seems, have already had a go at doing the work for you, it seems!!

http://financials.morningstar.com/ratio ... region=gbr

Hope this helps
Matt

[TheMotorcycleBoy]

Just out of interest, I'm trying to pool online resources for this kind of thing, here:

viewtopic.php?f=93&t=13764#p167200

The MorningStar link is about the fourth or fifth post, I believe.

[moorfield]

Phil Oakley's book https://www.amazon.co.uk/How-Pick-Quali ... 0857195344 describes, and do many youtube clips. This one, for example, I watched (and have watched several other from FinTree) is actually very good.

Thanks Matt. Yes I have a copy of this and have read it few times already. I do prefer to do my own workings from the statements, finding the time to put some of it into practice, however, is a different matter ...

[TheMotorcycleBoy]

Phil Oakley's book https://www.amazon.co.uk/How-Pick-Quali ... 0857195344 describes, and do many youtube clips. This one, for example, I watched (and have watched several other from FinTree) is actually very good.

Thanks Matt. Yes I have a copy of this and have read it few times already. I do prefer to do my own workings from the statements, finding the time to put some of it into practice, however, is a different matter ...

Ha ha! Indeed.

I did take a quick gander at TUIs and they did look somewhat, hmm....terse, I think is the best word.

Well if you do get the time, perhaps use this thread to document some of your workings out, it may help us all get a handle on this firms attributes.

Note whilst I do rate a lot of the free stuff on Morningstar, I did note (IIRC) they seem to be "overly generous" on Next Plcs (NXT) free cash flow figures. I ended working out that the reason for their overly friendly estimate was they had added an inflow from bond capital into sum, which in my opinion, is *not* justified - i.e. it is not a valid representation of the bare bones cash flow available.

Matt