Tabcorp Holdings Limited (TAH.AX)

DCF Valuation · Consumer Cyclical · Gambling

Valuation as at 2026-08-04 · refreshed with the ASX 300 Most Undervalued screen

About Tabcorp Holdings Limited

Tabcorp Holdings Limited, together with its subsidiaries, provides gambling, and entertainment and integrity services in Australia. It operates through Wagering and Media, and Integrity Services segments. The Wagering and Media segment offers totalisator and fixed odds betting on racing, sports, and other events through a network of TAB agencies, hotels and clubs, and on-course operations, as well as through retail, Internet, mobile devices, and phone.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

Tabcorp Holdings Limited TAH.AX

Consumer Cyclical · Gambling

Price
$0.88
Market Cap
$2.01B
Free Cash Flow
$0.21B
Beta
0.50
P/E (TTM)
87.5x
52-Week Range
$0.66–$1.19

TAH.AX's price & financial trends

Annual reporting periods — this market does not have reliable quarterly data on Yahoo (either it isn’t required, or coverage is incomplete), so annual is the most granular consistent series across free cash flow and dividends.

Data refreshed 2026-08-04

Share price · last 2 years

$0.88 +101% vs first period
ASX 200 $0.44$0.68$0.71$0.91$1.13$0.88 2024-082025-012025-062025-112026-042026-08

Earnings per share (diluted)

$0.02 -99% vs first period
$3.05$0.03$0.60$0.02FY22FY23FY24FY25

Free cash flow

$0.29B -46% vs first period
$0.53B-$0.08B-$0.52B$0.29BFY22FY23FY24FY25

Dividend per share

$0.01 -90% vs first period
$0.13$0.05$0.02$0.01FY22FY23FY24FY25

Intrinsic value estimate · 5-year forecast

BEAR
$1.19
vs current $0.88
+35.9% ✅ Undervalued
BASE
$1.34
vs current $0.88
+52.8% ✅ Undervalued
BULL
$1.60
vs current $0.88
+82.5% ✅ Undervalued

Assumptions used in this valuation

Every input below is either fetched live from Yahoo Finance or a documented default — nothing is hidden.

Risk-free rate
4.80% ● LIVE
Live 10-yr govt bond
Beta
0.50
Floored for non-US stocks
Equity risk premium
6.00%
Market-specific seed
Cost of debt
5.00%
Estimated (no debt/interest data)
Tax rate
25.00%
Estimated default
Capital structure
E 70% / D 30%
Market cap vs total debt
Projection horizon
5 years
+ terminal value beyond
BearBaseBull
5-yr FCF growth-2.5%-5.0%-7.5%
Terminal growth2.5%2.5%2.5%
WACC (discount rate)7.59%6.59%5.59%

Cost of Equity = Risk-free rate + Beta × Equity Risk Premium = 4.80% + 0.50 × 6.00% = 7.80% · WACC = weighted by 70%/30% capital structure

These numbers come from running Tabcorp Holdings Limited's cash flows through the mechanical DCF formula and assumptions above — not from any view on the news, management, or TAH.AX's competitive position. What is DCF?

Want to test your own growth or discount-rate assumptions?Open the full interactive calculator, pre-filled with TAH.AX →

More ASX 300 Most Undervalued stocks

Not financial advice. DCF valuations are highly sensitive to assumptions — small changes in growth rate or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Refreshed on the same cycle as the ASX 300 Most Undervalued screen. Change any assumption yourself in the full interactive tool.

Frequently asked questions

Is TAH.AX undervalued?

The Base-case DCF estimates intrinsic value at $1.34 vs a current price of $0.88 — a +52.8% margin, so the Base case reads undervalued. This is a mechanical output, not advice.