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Team Internet Group (AIM: TIG)

Last close As at 12/10/2024

GBP1.31

▲ −1.60 (−1.21%)

Market capitalisation

GBP339m

Team Internet Group is a global internet company that derives recurring revenue from privacy-safe, AI-based customer journeys that help online consumers make informed choices, as well as from the distribution of domain names.

Team Internet’s largest addressable market is online marketing, with global spending reaching US$616bn in 2022 and forecast to grow at a CAGR of 10% to 2027, according to Statista. While Team Internet currently has a small share of this market, its proprietary digital marketing capabilities and blue-chip partnerships offer the potential for rapid growth. However, further market consolidation may result in heightened competition from larger competitors, namely marketing technology companies such as The Trade Desk and AppLovin.

Latest Insights

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TMT | Update

Team Internet Group — Earnings remain resilient

TMT | Update

Team Internet — Upgrading FY25 EPS by 7% on Shinez

TMT | Update

Team Internet Group — Growth and returns, acquisition bolsters outlook

TMT | edison tv

Team Internet – executive interview
CentralNic Group_resized
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Sector

TMT

Equity Analyst

Dan Ridsdale

Head of Technology

Katherine Thompson

Key Management

  • Billy Green

    CFO

  • Iain McDonald

    Chairman

  • Martin Surzyn

    Head of investor relations

  • Michael Riedl

    CEO

Balance Sheet

Forecast net debt (US$m)

66

Forecast gearing ratio (%)

39

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (3.7) (28.6) 6.9
Relative (4.1) (28.8) (2.1)
52 week high/low 204.0p/115.0p

Financials

Team Internet’s H1 earnings showed resilience despite continued headwinds in online marketing. Going into the typically seasonally stronger H2, we expect the company’s initiatives in product innovation, vertical integration and international expansion to increasingly influence growth and margin expansion. Team Internet continues to trade at a significant discount to peers on our unchanged earnings estimates. We believe this rating remains attractive given the company’s track record, prospects and cash generation.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 728.2 86.0 64.3 14.7 11.8 8.6
2023A 836.9 96.4 77.6 22.5 7.7 6.5
2024E 939.2 110.2 91.0 26.3 6.6 4.9
2025A 1037.7 119.5 101.8 28.3 6.1 4.3

Research

Update

TMT

Team Internet — Upgrading FY25 EPS by 7% on Shinez

Update

TMT

Team Internet Group — Growth and returns, acquisition bolsters outlook

TMT

Update

Team Internet Group — Earnings remain resilient
View All

Further insights

insight

TMT

Team Internet: EKF 2023 QuickView

Thematics

thematic

TMT

MediaWatch – Encouragements and frustrations

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media
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