Tim Hortons Inc (NYSE:THI)

CAPS Rating: 3 out of 5

The Company's principal business is the operation, development and franchising of quick-service restaurants that serve high-quality food including hot and cold coffee, baked goods, sandwiches and soups.

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Member Avatar daviddurick (72.62) Submitted: 2/23/2013 4:48:45 PM : Outperform Start Price: $46.72 THI Score: +46.44

Higher quality that Dunkin, they mandate their franchisees only own one store to keep quality up so I think they will start taking the market away from Dunkin in the US and will grow at a good consistent rate.

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Member Avatar caseblo (< 20) Submitted: 2/23/2013 3:57:48 PM : Outperform Start Price: $46.72 THI Score: +46.44

crowded whenever I go or go past!

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Member Avatar mjwclarke (35.67) Submitted: 2/9/2013 2:41:23 PM : Outperform Start Price: $47.50 THI Score: +42.61

Tim Horton's has an unbeatable brand in Canada, and is expanding at a healthy clip in the United States. They are introducing ever-higher margin products into their stores and expanding well in the lunch and dinner segments. P/E is at the higher end, but business risk is low and competition in their home market is relatively low. This company has a wide moat.

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Member Avatar yeshiva (93.27) Submitted: 11/14/2012 3:16:01 PM : Outperform Start Price: $43.71 THI Score: +42.52

long lines waiting for service,best service,they are growing considering western new york area is weak

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Member Avatar TallToner (< 20) Submitted: 8/25/2012 9:56:53 PM : Outperform Start Price: $48.68 THI Score: +28.60

4% same store growth in a world of 2% GDP Growth. Intense following, and great growth potential in N America

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Member Avatar thequast (92.34) Submitted: 8/25/2012 8:40:30 PM : Outperform Start Price: $48.55 THI Score: +28.68

Good growth and a cult like following. New international expansion in middle east.

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Member Avatar TMFHobo (< 20) Submitted: 7/23/2012 12:35:38 PM : Underperform Start Price: $49.55 THI Score: -17.52

Company has saturated Canadian market with over 3,000 locations there. For a country with a population of just 30 million, that equals 1 for every 10,000 Canadians. Starbucks hit saturation in the US with less than half that ratio, and even McDonald's and Subway only have about 30,000 locations worldwide.
Expansion in the US has not taken off either for Tim's. They may find growth with new panini sandwiches but it's not enough to justify a P/E of 21.

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Member Avatar hubertreeves (< 20) Submitted: 5/10/2012 7:02:29 PM : Outperform Start Price: $52.57 THI Score: +8.22

Excellent presence in the canadian market. Always improving menu, changing this so slightly but with great results.

Only worry, their new "espresso" coffee. Not up to par.

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Member Avatar j3rrylucas2012 (35.23) Submitted: 2/1/2012 3:08:52 PM : Outperform Start Price: $46.06 THI Score: +28.65

CEO quit a while back and they still haven't found a replacement. When they do, and they get a firmer vision, the company should increase its presence in Canada and the US.

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Member Avatar hairyrichkid (< 20) Submitted: 10/19/2011 1:59:06 PM : Outperform Start Price: $46.02 THI Score: +14.30

I have never gone past a store that does't have a line of cars for breakfast or lunch. It's a chalenge to get past without getting in an accident.

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Member Avatar dweidel (27.73) Submitted: 9/20/2011 9:48:47 PM : Outperform Start Price: $43.27 THI Score: +17.19

If I need a quick coffee - it's Timmies, if I buy food on the go - 50% of the time it's Timmies, If I'm meeting up with somebody - it's Timmies. Well priced fresh baked goods made throughout the day, made to order sandwhiches, coffee... and the official workweek breakfast destination of Canada. Beautiful stores and also smaller locations in many gas station convenience stores. Extended period of testing and development of the business model in Canada... Now it's time to grow 3 fold over the next decade in the North Eastern U.S. Solid dividend.

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Member Avatar seawayguy (< 20) Submitted: 9/28/2010 8:46:38 PM : Outperform Start Price: $34.47 THI Score: +65.79

Expansion will prove to be successful....good food, donuts coffee and more at a fair price.

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Member Avatar mitleg (38.07) Submitted: 8/31/2010 10:11:36 PM : Outperform Start Price: $33.21 THI Score: +62.13

Terrific company. They have an enormous presence i Canada. They are making inroads in Michigan and other border states. They have great coffee, sandwiches, etc. A winner.

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Member Avatar MetroidMan (65.88) Submitted: 8/28/2010 3:24:40 PM : Outperform Start Price: $33.10 THI Score: +62.72

The McDonalds of Canada in 1955

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Member Avatar bentsfool (79.68) Submitted: 8/9/2010 4:45:27 PM : Outperform Start Price: $32.17 THI Score: +79.77

TIM ORTONS One of the best business plans in Canada, Quality products ,with a line up in every store Loyal customers seem adicted to their coffee..$ 42..00 Target

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Member Avatar Bobbybanana40 (92.91) Submitted: 8/3/2010 11:20:11 PM : Outperform Start Price: $32.10 THI Score: +81.21

Good stuff and expand when starbucks tanks

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Member Avatar BobT1964 (60.79) Submitted: 7/1/2010 10:24:27 PM : Outperform Start Price: $29.85 THI Score: +84.38

Great food and always a crowd.

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Member Avatar kthibs (42.19) Submitted: 5/6/2010 12:01:31 PM : Outperform Start Price: $29.80 THI Score: +107.12

Tim Horton's is making a large presence in the US after esablishing a sucessful track record in Canada

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Member Avatar TMF10KChallenge (< 20) Submitted: 4/26/2010 4:43:26 PM : Underperform Start Price: $31.26 THI Score: -101.50

Analyst: Alex Pape
Date: 4/1/2010
Company: Tim Hortons Inc.(NYSE: THI)
Market Cap: 5.742m
Price: $32.88

1) A brief overview of the company:
Tim Horton’s franchises quick-service restaurants in Canada and the U.S. Their restaurants sell premium coffee, flavored cappuccinos, teas, home-style soups, sandwiches, wraps, hot breakfast sandwiches and fresh baked goods, including their trademark donuts.

History of the company in 2 lines:
It was started by a NHL All-Star (his name? Tim Horton) in 1967. He partnered with an initial franchisee, who took over after his death. Wendy’s bought it in 1995 and bundled the stores under the same roof. In 2006, took it public and spun it off.

Horton’s is the 4th largest public quick service restaurant chain in North America. It is the largest in its space in Canada, where it has 3,015 restaurants; it has 563 restaurants in the U.S. and an additional 291 in the U.K. and Ireland. Over 99% of restaurants are franchised and it is management’s plan to continue that strategy.

Historically the company has grown primarily by adding new restaurants, and 2010 is no different. The company plans to grow in Canadian growth markets (Quebec, western Canada, Ontario, and major cities) and in major regional areas in the U.S. (New York, Ohio, and Michigan). There are also plans to test a new concept restaurant in the U.S. to differentiate the brand and customer offerings as a café and bake shop destination.

2) What is the competitive landscape?
Tim Hortons holds 40% market share in the Canadian quick service restaurant segment and 83% of the coffee/donut/gourmet coffee/tea sector. Both figures are based on number of customers served.
The markets in which the company competes are highly competitive. Competitors include quick service restaurants, fast-casual restaurants focusing on specialty coffee, baked goods, and sandwiches, and gas and convenience stores that sell food and beverages. The coffee and breakfast food markets in particular have intensified over the last several years. The company has noted particular competitive pressures as a new entrant in the U.S. market.

3) Is this a good long-term business?
The company has an established brand and business in Canada with definite room for growth in that market. Other markets, including the U.S., offer the potential for even greater growth, but the ability to capitalize on the strength of the Tim Horton name outside of Canada is as yet unknown. The demand for breakfast foods, sandwiches, and coffee cannot be expected to drop off anytime soon; however, the ability of the company to earn strong margins on these products in a competitive market is uncertain. Also, growth by adding new stores has been most effective to date and continues to be the most attractive mode of growth; however, growth in this manner, while probably sustainable for quite a while, is not possible at high levels in the long run. Difficulty in boosting same-restaurant sales significantly or increasing operating margins could create problems for long-term growth.

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Member Avatar JTmoneys (87.31) Submitted: 4/6/2010 2:14:06 AM : Outperform Start Price: $30.56 THI Score: +103.98

Tim Horton's is a great company. Many people may not think they have the best products but no matter what they say the company sells and sells well. They have cheap coffee (very addictive) and great pastries which makes them a great investment because they sell stuff that people will always want and they don't charge an arm and a leg. Plus last year they made over $1 billion dollars in profit. Not to bad.

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