ASX:VEN

Stock Analysis Report

Executive Summary

Vintage Energy Limited acquires, explores for, and develops oil and gas properties in Australia.

Snowflake

Flawless balance sheet and overvalued.

Share Price & News

How has Vintage Energy's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VEN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-5.9%

VEN

0.6%

AU Oil and Gas

0.9%

AU Market


1 Year Return

-11.1%

VEN

3.4%

AU Oil and Gas

16.3%

AU Market

Return vs Industry: VEN underperformed the Australian Oil and Gas industry which returned 3.4% over the past year.

Return vs Market: VEN underperformed the Australian Market which returned 16.3% over the past year.


Shareholder returns

VENIndustryMarket
7 Day-5.9%0.6%0.9%
30 Day6.7%3.6%1.4%
90 Day14.3%12.5%6.0%
1 Year-11.1%-11.1%7.7%3.4%23.0%16.3%
3 Yearn/a22.2%9.4%41.6%22.3%
5 Yearn/a-5.2%-18.8%57.7%22.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Vintage Energy undervalued compared to its fair value and its price relative to the market?

1.39x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate VEN's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate VEN's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: VEN is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: VEN is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: VEN is good value based on its PB Ratio (1.4x) compared to the AU Oil and Gas industry average (1.4x).


Next Steps

Future Growth

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

8.3%

Forecasted Energy industry annual growth in earnings


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if VEN's forecast earnings growth is above the savings rate (2.3%).

Earnings vs Market: Insufficient data to determine if VEN's earnings are forecast to grow faster than the Australian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if VEN's revenue is forecast to grow faster than the Australian market.

High Growth Revenue: Insufficient data to determine if VEN's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if VEN's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Vintage Energy performed over the past 5 years?

-340.7%

Last years earnings growth


Earnings and Revenue History

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

Growing Profit Margin: Insufficient data to determine if VEN's profit margins have improved over the past year.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if VEN's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare VEN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: VEN is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (68.1%).


Return on Equity

High ROE: VEN has a negative Return on Equity (-11.13%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Vintage Energy's financial position?


Financial Position Analysis

Short Term Liabilities: VEN's short term assets (A$22.4M) exceeds its short term liabilities (A$3.1M)

Long Term Liabilities: VEN's short term assets (22.4M) exceeds its long term liabilities (925.0K)


Debt to Equity History and Analysis

Debt Level: VEN is debt free.

Reducing Debt: VEN had no debt 5 years ago.


Balance Sheet

Inventory Level: VEN has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if VEN's debt is covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: VEN has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: VEN has sufficient cash runway for 1.193748 years if free cash flow continues to reduce at historical rates of -70.6% each year.


Next Steps

Dividend

What is Vintage Energy's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.4%markettop25%5.6%industryaverage4.3%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate VEN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate VEN's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if VEN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VEN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VEN's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

What is the CEO of Vintage Energy's salary, the management and board of directors tenure and is there insider trading?

3.4yrs

Average board tenure


CEO

Neil Gibbins 0

2.8yrs

Tenure

AU$604,401

Compensation

Mr. Neil M. Gibbins, BSc (Hons)- Geophysics serves as Managing Director and Non Independent Director of Vintage Energy Ltd. Mr. Gibbins served as the Chief Operating Officer of Beach Energy Limited since M ...


CEO Compensation Analysis

Compensation vs Market: Neil's total compensation ($USD411.66K) is above average for companies of similar size in the Australian market ($USD255.13K).

Compensation vs Earnings: Neil's compensation has increased whilst the company is unprofitable.


Board Age and Tenure

3.4yrs

Average Tenure

Experienced Board: VEN's board of directors are considered experienced (3.4 years average tenure).


Insider Trading

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


Recent Insider Transactions

BuyAU$318,19517 Oct 19
Tribeca Investment Partners Pty Ltd.
EntityCompany
Shares1,614,957
Max PriceAU$0.26
SellAU$790,51817 Oct 19
Tribeca Investment Partners Pty Ltd.
EntityCompany
Shares5,233,192
Max PriceAU$0.17
BuyAU$463,68703 Dec 18
Morgan Stanley, Investment Banking and Brokerage Investments
EntityCompany
Shares2,302,839
Max PriceAU$0.23

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 451.3%.


Management Team

  • Neil Gibbins

    MD & Non Independent Director

    • Tenure: 2.8yrs
    • Compensation: AU$604.40k
  • Simon Jeremy Gray (60yo)

    Company Secretary

    • Tenure: 4yrs
    • Compensation: AU$71.45k
  • Ian Northcott

    Technical Advisor

    • Tenure: 1.8yrs
    • Compensation: AU$96.50k

Board Members

  • Reg Nelson (73yo)

    Independent Chairman of the Board

    • Tenure: 2.8yrs
    • Compensation: AU$118.63k
  • Nick Smart

    Non-Executive Independent Director

    • Tenure: 4yrs
    • Compensation: AU$98.10k
  • Neil Gibbins

    MD & Non Independent Director

    • Tenure: 2.8yrs
    • Compensation: AU$604.40k
  • Ian Howarth

    Non-Executive Independent Director

    • Tenure: 4.8yrs
    • Compensation: AU$98.10k
  • Ian Northcott

    Technical Advisor

    • Tenure: 1.8yrs
    • Compensation: AU$96.50k

Company Information

Vintage Energy Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vintage Energy Limited
  • Ticker: VEN
  • Exchange: ASX
  • Founded: 2015
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: AU$42.655m
  • Shares outstanding: 266.59m
  • Website: https://www.vintageenergy.com.au

Location

  • Vintage Energy Limited
  • 58 King William Road
  • Goodwood
  • South Australia
  • 5034
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VENASX (Australian Securities Exchange)YesOrdinary SharesAUAUDSep 2018
VENCHIA (Chi-X Australia)YesOrdinary SharesAUAUDSep 2018

Biography

Vintage Energy Limited acquires, explores for, and develops oil and gas properties in Australia. The company owns 50% interest in the PEL 155 property located in Otway Basin, South Australia; and 100% inte ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/17 10:45
End of Day Share Price2019/11/15 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.