company background image
VGI

VGI PartnersASX:VGI Stock Report

Market Cap

AU$352.5m

7D

-2.7%

1Y

-29.7%

Updated

19 Oct, 2021

Data

Company Financials
VGI fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends3/6

VGI Overview

VGI Partners Limited is a publicly owned investment manager.

Price History & Performance

Summary of all time highs, changes and price drops for VGI Partners
Historical stock prices
Current Share PriceAU$5.04
52 Week HighAU$5.01
52 Week LowAU$8.77
Beta1.16
1 Month Change-18.71%
3 Month Change-28.91%
1 Year Change-29.71%
3 Year Changen/a
5 Year Changen/a
Change since IPO-50.78%

Recent News & Updates

Aug 26
VGI Partners (ASX:VGI) Is Paying Out A Larger Dividend Than Last Year

VGI Partners (ASX:VGI) Is Paying Out A Larger Dividend Than Last Year

VGI Partners Limited ( ASX:VGI ) will increase its dividend on the 10th of September to AU$0.31. This makes the...

Feb 18
What Type Of Shareholders Own The Most Number of VGI Partners Limited (ASX:VGI) Shares?

What Type Of Shareholders Own The Most Number of VGI Partners Limited (ASX:VGI) Shares?

A look at the shareholders of VGI Partners Limited ( ASX:VGI ) can tell us which group is most powerful. Large...

Shareholder Returns

VGIAU Capital MarketsAU Market
7D-2.7%2.9%1.7%
1Y-29.7%22.7%20.3%

Return vs Industry: VGI underperformed the Australian Capital Markets industry which returned 22.7% over the past year.

Return vs Market: VGI underperformed the Australian Market which returned 20.3% over the past year.

Price Volatility

Is VGI's price volatile compared to industry and market?
VGI volatility
VGI Beta1.16
Industry Beta0.99
Market Beta1

Stable Share Price: VGI is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: VGI's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200826Jonathan Howiehttps://www.vgipartners.com

VGI Partners Limited is a publicly owned investment manager. The firm primarily provides its services to high net worth individuals, family offices, endowment funds, Pooled investment vehicles, Corporations or other businesses and other wholesale clients. The firm invests in public equity markets across the globe.

VGI Partners Fundamentals Summary

How do VGI Partners's earnings and revenue compare to its market cap?
VGI fundamental statistics
Market CapAU$352.52m
Earnings (TTM)AU$65.34m
Revenue (TTM)AU$116.27m

5.4x

P/E Ratio

3.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VGI income statement (TTM)
RevenueAU$116.27m
Cost of RevenueAU$13.15m
Gross ProfitAU$103.12m
ExpensesAU$37.78m
EarningsAU$65.34m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.94
Gross Margin88.69%
Net Profit Margin56.20%
Debt/Equity Ratio0%

How did VGI perform over the long term?

See historical performance and comparison

Dividends

11.7%

Current Dividend Yield

63%

Payout Ratio

Valuation

Is VGI Partners undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VGI (A$5.04) is trading below our estimate of fair value (A$10.59)

Significantly Below Fair Value: VGI is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: VGI is good value based on its PE Ratio (5.4x) compared to the Australian Capital Markets industry average (16.8x).

PE vs Market: VGI is good value based on its PE Ratio (5.4x) compared to the Australian market (19.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate VGI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: VGI is overvalued based on its PB Ratio (2.3x) compared to the AU Capital Markets industry average (1.4x).


Future Growth

How is VGI Partners forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

9.0%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as VGI Partners has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has VGI Partners performed over the past 5 years?

22.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VGI has a high level of non-cash earnings.

Growing Profit Margin: VGI's current net profit margins (56.2%) are higher than last year (31.9%).


Past Earnings Growth Analysis

Earnings Trend: VGI's earnings have grown significantly by 22% per year over the past 5 years.

Accelerating Growth: VGI's earnings growth over the past year (492.3%) exceeds its 5-year average (22% per year).

Earnings vs Industry: VGI earnings growth over the past year (492.3%) exceeded the Capital Markets industry 12.8%.


Return on Equity

High ROE: VGI's Return on Equity (41.8%) is considered outstanding.


Financial Health

How is VGI Partners's financial position?


Financial Position Analysis

Short Term Liabilities: VGI's short term assets (A$101.4M) exceed its short term liabilities (A$28.7M).

Long Term Liabilities: VGI's short term assets (A$101.4M) exceed its long term liabilities (A$4.8M).


Debt to Equity History and Analysis

Debt Level: VGI is debt free.

Reducing Debt: VGI has not had any debt for past 5 years.

Debt Coverage: VGI has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: VGI has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is VGI Partners's current dividend yield, its reliability and sustainability?

11.71%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VGI's dividend (11.71%) is higher than the bottom 25% of dividend payers in the Australian market (2.27%).

High Dividend: VGI's dividend (11.71%) is in the top 25% of dividend payers in the Australian market (5.28%)


Stability and Growth of Payments

Stable Dividend: VGI has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: VGI's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (63%), VGI's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average board tenure


CEO

Jonathan Howie

0.50

Tenure

Mr. Jonathan Adrian Howie M.App., Fin. (UMACQ), MBA (MGSM), serves as Chief Executive Officer at VGI Partners Limited since April 12, 2021. He serves as Head of Equity Index Strategy - APAC at BlackRock, I...


Board Members

Experienced Board: VGI's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

VGI Partners Limited's employee growth, exchange listings and data sources


Key Information

  • Name: VGI Partners Limited
  • Ticker: VGI
  • Exchange: ASX
  • Founded: 2008
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: AU$352.521m
  • Shares outstanding: 69.81m
  • Website: https://www.vgipartners.com

Number of Employees


Location

  • VGI Partners Limited
  • 39 Phillip Street
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 07:04
End of Day Share Price2021/10/19 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.