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Vacasa 대차대조표 건전성
재무 건전성 기준 점검 2/6
Vacasa 의 총 주주 지분은 $67.1M 이고 총 부채는 $122.3M, 이는 부채 대 자기자본 비율을 182.1% 로 가져옵니다. 총자산과 총부채는 각각 $535.9M 및 $468.8M 입니다.
핵심 정보
182.12%
부채/자본 비율
US$122.29m
부채
| 이자보상배율 | n/a |
| 현금 | US$88.54m |
| 자본 | US$67.15m |
| 총부채 | US$468.78m |
| 총자산 | US$535.93m |
최근 재무 건전성 업데이트
Recent updates
새 내러티브 • Apr 06
Local Teams And AI Will Improve US Hospitality Amid Headwinds
Decentralization may boost efficiency but risks uneven decision-making, affecting revenue consistency across regions.분석 기사 • Dec 21
Is Vacasa, Inc. (NASDAQ:VCSA) Expensive For A Reason? A Look At Its Intrinsic Value
Does the December share price for Vacasa, Inc. ( NASDAQ:VCSA ) reflect what it's really worth? Today, we will estimate...Seeking Alpha • Sep 30
Vacasa: Creating The Best Vacation Stock For You
Summary Vacasa thrives with its incredible revenue growth and margin expansion. New home openings and technology upgrades present more potential growth prospects. The stock price is in a downtrend and has no reversal at the moment. VCSA remains the largest vacation rental management company in North America after the company bought its strongest competitors. Vacasa, Inc. (VCSA) showed astonishing growth year-over-year in its gross revenue despite the unfavorable effects of the pandemic in 2020 and inflationary pressures. It now generates solid and intact fundamentals. So this year, additional alluring growth triggers are predicted. This is thanks to its innovative approaches to clients, homeowners, and improved digital service capabilities. Similar to that, the stock price points to a bright future for investors. This optimism is justified by its developing fundamentals and room for growth in the industry. Company Performance VCSA keeps increasing its operations, causing a 25.51% increase in revenue growth in only a quarter. It reached $310.35 million from $247.26 million in 1Q 2022. Operating Revenue was significantly increasing because of new home additions and individual approaches. An increase in management operations produced more sales, plus the company strengthened its enterprise technology solutions. This positioned the company for better customer satisfaction. Similarly, expenses were cut to keep the core business operating. As a result, by decreasing its costs, the company was able to raise its margin to 72.56%, or $77.68 million. The company remained open all year long. Coping up with digitization allowed it to deal with challenging market conditions. The operations of Vacasa are still growing. Its operating revenue of $889.06 million in 2021 increased by 80.79% from the previous year. Even better, the half-year value is already 64% of that annual value. It may be higher this quarter due to seasonality factors. In reality, summer entices more leisure and business travel. The operating margin has also increased to 160.25% because of its merger with TPG Pace solutions. Also, as more people adopt the technology, its digitalization becomes a growth catalyst. Operating Revenue (MarketWatch) Operating Revenue (MarketWatch) Operating Margin (MarketWatch) VCSA is now the largest vacation rental management company in North America. Currently, it doesn't have a strong challenger aside from hotels and timeshares after buying its strongest competitors. It serves millions of customers daily from over 35,000+ homes across the 35 US States including Mexico, Belize, and Costa Rica. Surprisingly, sales and profits rose last year, given the 60% new home additions in 2021. The opening of more houses could aid in meeting more demand and serving more customers. Given that Vacasa has 3 million clients per year, further improvement is quite likely to be achieved. Vacasa holds the majority of the market share of the vacation rental management industry. The company shows an 80.79% year-over-year revenue growth vs. 39.14% from 2020. The data demonstrates its performance and ability to consistently increase its revenues moving forward. Also, it appears to demonstrate a stronger grasp of its operations as it improves its profitability. Revenue Growth (MarketWatch) Digital Transformation and Customization of Customer Needs Today's opportunities are greater due to the industry's unmet demand as the pandemic comes to an end. The enhancement of its technology has revolutionized the needs of its customers. Transforming booking to check-out experience, having 3D virtual tours of the rental houses means customers can be sure what they see is what they get. Listings are also synced in major channels such as Airbnb and Booking.com. Therefore, the company might manage to keep expenditures under control. Because of this, VCSA should strategically enhance its IT spending. According to Rentals United statistics, the vacation rental industry may reach $20 billion. Fortunately, the business keeps up with changes in the market and customer preferences. These are the potential areas of growth for Vacasa. Competitive Advantage and Home Openings To attract more customers this year, vacation rental openings are identified. Vacasa already had 37,000 vacation rentals by 2021. VCSA targets to increase this figure by 30% by the end of 2022. If the operating revenue is divided among all vacation rental properties, the average revenue rises from $24,000 to $31,000 in this case. That is the contrast between things before and after the establishment of the additional 30% vacation rental properties. VCSA can, therefore, accommodate more guests when additional vacation rentals will be opened and increase demand. It displays marginal revenue of $5,300 on average for vacation rental properties. As a result, VCSA keeps growing its capacity and expanding into new areas. As costs and expenses become more controllable due to digitization, the operating margin may rise to 30%. Operating Revenue (Author Estimation) More Stable Financials The company shows healthy fundamentals. The long-term borrowings increased in 2021 due to capital spending. Cash and equivalents rose from $192 million to $310 million. Given this, we can see that the company is positioned to pay off its obligations. It also reaps the benefits of issuing its stock to the public. Cash and Equivalents and Borrowings (MarketWatch) Additionally, the company will be profitable while continuing its operations. Free Cash Flow ((FCF)) of $209.1 million enables us to verify the growing profitability and sustainability. Despite a $5.36 million CAPEX and $67.13 million net assets from acquisitions, the FCF-to-Sales Ratio is presently 67%. The business now keeps its costs and expenses low as it strives to grow. I predict that the FCF-to-Sales Ratio will be at 50% over the next four years due to the rise in CapEx driven by new rental vacation properties. Therefore, the value might increase from $11.24 to $56.90 million. FCF-to-Sales Ratio (MarketWatch) Free Cash Flow (MarketWatch) Price Valuation VCSA has somewhat increased in price since August 11. However, no reversal has been found. The price shows downward momentum at $5.56, and the share price may decline even more. Despite these declines suggesting overvaluation, you might consider the company anyway considering its strong financial position.Seeking Alpha • Aug 24
Vacasa names new CEO to succeed Matt Roberts
Vacasa (NASDAQ:VCSA) on Wednesday named Rob Greyber as the company's new chief executive officer, effective Sept. 6, 2022. Greyber brings in over 20 years of leadership experience in the travel and technology industries and most recently has served as President of Egencia, a corporate travel business previously owned by Expedia Group (EXPE). Greyber is succeeding current CEO Matt Roberts, who is attributed to help achieve a nearly four-fold increase in gross booking value, lead the acquisition of TurnKey Vacation Rentals and tp take Vacasa public in Dec 2021. The transition comes as part of succession planning process that commenced earlier this year. VSCA shares are up 4% in pre-market trading on Wednesday. Earlier: Vacasa stock jumps ~40% after hours on Q2 results beat, raised FY revenue guidanceSeeking Alpha • Aug 11
Vacasa: Surprise Turnaround For This Rental Management Company
Vacasa is a rental management company that is seeing a very strong period, which has allowed the company to revise its guidance upwards ever-so-slightly. Given that including the premarket jump of 25%, this stock is still down 50% from the highs set just a few months ago, this new outlook has been very welcome. Vacasa argues that its business value is superior to Airbnb's as Vacasa leans further into its end-to-end technology platform. That being said, there's no question that there's significant overlap between Airbnb and Vacasa, including their respective CAGRs. The one significant difference is that Vacasa is priced at 1x sales, while Airbnb is priced at 9x sales. Investment Thesis Vacasa (VCSA) is a rental management platform. Unquestionably the crown jewel of this business is that it oozes free cash flow. The business gets cash upfront via deferred revenues. Technically this is working capital. But since the business is growing over time, its deferred revenues will continue to grow faster than outgoings, leading to its free cash flow looking very good. There's a lot to like here in this investment, so let's get into it. Revenue Growth Rates of Approximately 22% CAGR VCSA revenue growth rates Vacasa's full-year guidance at the end of Q4 2021 and Q1 2022 was essentially the same. The business was guiding at the high end of its range for $1.175 billion in revenues. Now, together with its Q2 2022 results, Vacasa upwards revised its estimate by $10 million at the high end. This is obviously not a significant game changer. However, since including the stock's premarket jump of 25%, the stock is still down more than 50% from the highs set only a few months ago, anything that wasn't strictly bad news was going to be perceived as being good news. Simply put, investors were already bracing themselves for the worst going into the print. Vacasa's Near-Term Prospects Readers are no doubt familiar with Airbnb (ABNB). Vacasa too is exposed to a prevailing market trend that sees alternative accommodations as one of the fastest growing categories in travel, driven by robust consumer demand. What distinguishes Vacasa from Airbnb is the supply side of the business. Vacasa does all the heavy lifting on the back end to ensure that homeowners maximize their rental income. VCSA 2021 presentation Essentially, you hand the keys to Vacasa and they do all the work to ensure that the property is being used for maximum rental income. Vacasa takes a commission from both the homeowners and the guests. Everything from the price checking your property's listing to getting the property listed through 100s other channels to maximize visibility, including Airbnb as well as its own direct site too. Profitability Profile Continues Improving The one stand-out aspect of its full-year guidance is that Vacasa's EBITDA is now could reach EBITDA breakeven for the year as a whole. This is a material improvement from the guidance Vacasa provided in Q1 2022 when Vacasa was guiding at the high end towards a negative $14 million of EBITDA. Given that H1 2022 saw Vacasa's EBITDA report negative $25 million, this implies that the second half of 2022 will see close to $25 million of positive EBITDA. For extra color, this is what Vacasa's management said during the earnings call, July has historically been our seasonally strongest month of the year and has accounted for 40% to 50% of third quarter gross booking value and revenue. We also have a high percentage of our expected August booking confirmed at this point, which is our second strongest month of the year. With July complete and high visibility into August, we are confident in our third quarter guidance. And while we have less visibility into the fourth quarter, given it's only August, we are currently pacing well against our expectations. The commentary above implies that Vacasa is attempting to be conservative with its outlook for Q4. Since Q3 2022 is guided for $60 million of EBITDA, this means that there's a significant likelihood that Q4 2022 could perhaps see reported EBITDA higher than the current expectations. VCSA Stock Valuation -- 1x This Year's Sales The big question that looms large is exactly what sort of growth rate can investors expect from Vacasa. This time last year its business was sizzling hot, as its revenue growth rates went against much weaker comparables from 2020.분석 기사 • May 14
Is Vacasa, Inc. (NASDAQ:VCSA) Worth US$4.8 Based On Its Intrinsic Value?
Today we will run through one way of estimating the intrinsic value of Vacasa, Inc. ( NASDAQ:VCSA ) by taking the...Seeking Alpha • Mar 23
Vacasa: Annual Results Confirm Our Bullish Stance
As the only national technology-enabled vacation rental property manager, Vacasa allows property owners to earn more than they could by partnering with regional property managers. Vacasa is still not represented in several large-population states, including Illinois, Ohio, and New Jersey. Vacasa's penetration rate is still less than one percent. I expect the gross margin to increase due to economies of scale as VCSA is still in the early stages of growth. In the long term, Vacasa can reduce these costs, as the company has a high retention rate of about 90%, and the ratio of customer lifetime value to customer acquisition cost is in the range between 4 times to 5 times. According to my estimate, the company is trading at a discount to the fair price.Seeking Alpha • Feb 04
Vacasa: A Digital Property Manager With Strong Prospects
VCSA is the only national technology-enabled vacation rental property manager with one app and tenant support service. Due to the accumulation of a good supply, the company can take some of the demand from aggregators in target markets in the future. The company's business model is robust, and growth potential is high, but don't expect Vacasa to become an international player. VCSA is trading at an unjustified discount to digital property managers and par with classic real estate management firms.Seeking Alpha • Dec 29
Vacasa CEO Matt Roberts - Hottest Part Of Travel Sector
Vacasa CEO Matt Roberts talks end-to-end vacation rentals. What’s been driving the strong demand in vacation rentals; Vacasa's differentiation from Airbnb and VRBO. Proprietary tech, potential risks; goals for 2022. Despite being built for an IPO, SPAC partnership was more beneficial.재무 상태 분석
단기부채: VCSA 의 단기 자산 ( $250.6M )은 단기 부채( $327.3M ).
장기 부채: VCSA의 단기 자산($250.6M)이 장기 부채($141.5M)를 초과합니다.
부채/자본 비율 추이 및 분석
부채 수준: VCSA 의 순부채 대 자기자본 비율( 50.3% )은 높음으로 간주됩니다.
부채 감소: VCSA의 부채 대비 자본 비율은 지난 5년 동안 0.3%에서 182.1%로 증가했습니다.
대차대조표
현금 보유 기간 분석
과거에 평균적으로 손실을 기록해 온 기업의 경우, 최소 1년 이상의 현금 보유 기간이 있는지 평가합니다.
안정적인 현금 활주로: VCSA 현재 무료 현금 흐름을 기준으로 1년 미만의 cash runway를 보유하고 있습니다.
예측 현금 활주로: VCSA 57.7 1.2 57.7 % 매년.
건전한 기업 찾아보기
기업 분석 및 재무 데이터 상태
| 데이터 | 최종 업데이트 (UTC 시간) |
|---|---|
| 기업 분석 | 2025/05/02 08:49 |
| 종가 | 2025/04/30 00:00 |
| 수익 | 2024/12/31 |
| 연간 수익 | 2024/12/31 |
데이터 소스
당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.
| 패키지 | 데이터 | 기간 | 미국 소스 예시 * |
|---|---|---|---|
| 기업 재무제표 | 10년 |
| |
| 분석가 컨센서스 추정치 | +3년 |
|
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| 시장 가격 | 30년 |
| |
| 지분 구조 | 10년 |
| |
| 경영진 | 10년 |
| |
| 주요 개발 | 10년 |
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* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.
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산업 및 섹터 지표
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분석가 소스
Vacasa, Inc.는 4명의 분석가가 다루고 있습니다. 이 중 5명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
| 분석가 | 기관 |
|---|---|
| Lee Horowitz | Deutsche Bank |
| Benjamin Miller | Goldman Sachs |
| Michael Grondahl | Northland Capital Markets |