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Market Cap

AU$452.2m

Last Updated

2021/05/15 10:51 UTC

Data Sources

Company Financials

Executive Summary

VGI Partners Limited is a publicly owned investment manager. More Details


Snowflake Analysis

Flawless balance sheet and good value.

Share Price & News

How has VGI Partners's share price performed over time and what events caused price changes?


Latest Share Price and Events

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.


Market Performance


7 Day Return

6.1%

VGI

0.2%

AU Capital Markets

-1.2%

AU Market


1 Year Return

-30.3%

VGI

29.9%

AU Capital Markets

35.2%

AU Market

Return vs Industry: VGI underperformed the Australian Capital Markets industry which returned 29.9% over the past year.

Return vs Market: VGI underperformed the Australian Market which returned 35.2% over the past year.


Shareholder returns

VGIIndustryMarket
7 Day6.1%0.2%-1.2%
30 Day-12.4%0.7%-0.4%
90 Day-21.5%4.4%2.4%
1 Year-27.5%-30.3%34.1%29.9%39.6%35.2%
3 Yearn/a41.9%27.1%30.4%14.8%
5 Yearn/a111.1%71.3%62.7%31.3%

Long-Term Price Volatility Vs. Market

How volatile is VGI Partners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

21.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VGI (A$6.48) is trading below our estimate of fair value (A$8.26)

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 (17.4x) compared to the Australian Capital Markets industry average (20.3x).

PE vs Market: VGI is good value based on its PE Ratio (17.4x) compared to the Australian market (20.2x).


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 (3.4x) compared to the AU Capital Markets industry average (1.3x).


Future Growth

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

8.2%

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?

9.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VGI has high quality earnings.

Growing Profit Margin: VGI's current net profit margins (45.4%) are higher than last year (42.1%).


Past Earnings Growth Analysis

Earnings Trend: VGI's earnings have grown by 9.4% per year over the past 5 years.

Accelerating Growth: VGI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: VGI had negative earnings growth (-7.1%) over the past year, making it difficult to compare to the Capital Markets industry average (-0.2%).


Return on Equity

High ROE: VGI's Return on Equity (19.5%) is considered low.


Financial Health

How is VGI Partners's financial position?


Financial Position Analysis

Short Term Liabilities: VGI's short term assets (A$73.7M) exceed its short term liabilities (A$14.5M).

Long Term Liabilities: VGI's short term assets (A$73.7M) exceed its long term liabilities (A$5.1M).


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?

5.09%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VGI's dividend (5.09%) is higher than the bottom 25% of dividend payers in the Australian market (2.08%).

High Dividend: VGI's dividend (5.09%) is low compared to the top 25% of dividend payers in the Australian market (5.21%).


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 has only been paying a dividend for 2 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (88.8%), VGI's 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?

2.5yrs

Average board tenure


CEO

Jonathan Howie

0.083

Tenure

Mr. Jonathan 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, Inc., an...


Board Members

Experienced Board: VGI's board of directors are not considered experienced ( 2.5 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 company bio, 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$452.175m
  • Shares outstanding: 69.78m
  • Website: https://www.vgipartners.com

Number of Employees


Location

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

Listings


Biography

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, Corporation...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/15 10:51
End of Day Share Price2021/05/14 00:00
Earnings2020/12/31
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.