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Village Roadshow

ASX:VRL
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VRL
ASX
A$527M
Market Cap
  1. Home
  2. AU
  3. Media
Company description

Village Roadshow Limited engages in the theme park and water park operation, film and DVD distribution, cinema exhibition operation, and sales promotion and loyalty program operation businesses in Australia and internationally. The last earnings update was 148 days ago. More info.


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  • Village Roadshow has significant price volatility in the past 3 months.
VRL Share Price and Events
7 Day Returns
-1.8%
ASX:VRL
-0.9%
AU Entertainment
-0.9%
AU Market
1 Year Returns
46.9%
ASX:VRL
-0.4%
AU Entertainment
4.2%
AU Market
VRL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Village Roadshow (VRL) -1.8% -5.5% -20.1% 46.9% -48.4% -64.8%
AU Entertainment -0.9% -0.7% -8.1% -0.4% -26.8% -18.9%
AU Market -0.9% 1.4% 6% 4.2% 19% 11%
1 Year Return vs Industry and Market
  • VRL outperformed the Entertainment industry which returned -0.4% over the past year.
  • VRL outperformed the Market in Australia which returned 4.2% over the past year.
Price Volatility
VRL
Industry
5yr Volatility vs Market

Value

 Is Village Roadshow undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Village Roadshow to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Village Roadshow.

ASX:VRL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:VRL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.902 (1 + (1- 30%) (79.75%))
1.271
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.271 * 5.96%)
9.89%

Discounted Cash Flow Calculation for ASX:VRL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Village Roadshow is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:VRL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 9.89%)
2020 49.00 Analyst x1 44.59
2021 70.47 Est @ 43.82% 58.36
2022 92.57 Est @ 31.37% 69.76
2023 113.54 Est @ 22.65% 77.86
2024 132.33 Est @ 16.55% 82.58
2025 148.58 Est @ 12.28% 84.37
2026 162.38 Est @ 9.29% 83.91
2027 174.06 Est @ 7.2% 81.85
2028 184.04 Est @ 5.73% 78.76
2029 192.69 Est @ 4.7% 75.04
Present value of next 10 years cash flows A$737.09
ASX:VRL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$192.69 × (1 + 2.31%) ÷ (9.89% – 2.31%)
A$2,601.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$2,601.62 ÷ (1 + 9.89%)10
A$1,013.13
ASX:VRL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$737.09 + A$1,013.13
A$1,750.21
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$1,750.21 / 195.26
A$8.96
ASX:VRL Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$8.96
Current discount Discount to share price of A$2.74
= -1 x (A$2.74 - A$8.96) / A$8.96
69.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Village Roadshow is available for.
Intrinsic value
>50%
Share price is A$2.74 vs Future cash flow value of A$8.96
Current Discount Checks
For Village Roadshow to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Village Roadshow's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Village Roadshow's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Village Roadshow's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Village Roadshow's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:VRL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$-0.97
ASX:VRL Share Price ** ASX (2019-07-19) in AUD A$2.74
Global Entertainment Industry PE Ratio Median Figure of 142 Publicly-Listed Entertainment Companies 23.56x
Australia Market PE Ratio Median Figure of 546 Publicly-Listed Companies 16.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Village Roadshow.

ASX:VRL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:VRL Share Price ÷ EPS (both in AUD)

= 2.74 ÷ -0.97

-2.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Village Roadshow is loss making, we can't compare its value to the Global Entertainment industry average.
  • Village Roadshow is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does Village Roadshow's expected growth come at a high price?
Raw Data
ASX:VRL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
61.2%per year
Global Entertainment Industry PEG Ratio Median Figure of 58 Publicly-Listed Entertainment Companies 1.65x
Australia Market PEG Ratio Median Figure of 361 Publicly-Listed Companies 1.35x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Village Roadshow, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Village Roadshow's assets?
Raw Data
ASX:VRL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$2.33
ASX:VRL Share Price * ASX (2019-07-19) in AUD A$2.74
Australia Entertainment Industry PB Ratio Median Figure of 11 Publicly-Listed Entertainment Companies 3.05x
Australia Market PB Ratio Median Figure of 1,693 Publicly-Listed Companies 1.7x
ASX:VRL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:VRL Share Price ÷ Book Value per Share (both in AUD)

= 2.74 ÷ 2.33

1.17x

* Primary Listing of Village Roadshow.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Village Roadshow is good value based on assets compared to the AU Entertainment industry average.
X
Value checks
We assess Village Roadshow's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. Village Roadshow has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Village Roadshow expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
61.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Village Roadshow expected to grow at an attractive rate?
  • Village Roadshow's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Village Roadshow's earnings growth is expected to exceed the Australia market average.
  • Village Roadshow's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:VRL Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:VRL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 61.2%
ASX:VRL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 1.9%
Global Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 18.3%
Global Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 11.1%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7.4%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:VRL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:VRL Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 1,018 117 38 5
2020-06-30 1,000 107 31 7
2019-06-30 980 98 17 7
ASX:VRL Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 971 60 -169
2018-09-30 966 41 -85
2018-06-30 962 21 0
2018-03-31 967 51 56
2017-12-31 979 80 112
2017-09-30 995 105 23
2017-06-30 1,012 131 -67
2017-03-31 1,050 118 -27
2016-12-31 1,088 106 12
2016-09-30 1,074 94 14
2016-06-30 1,060 82 16
2016-03-31 1,052 99 21

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Village Roadshow's earnings are expected to grow significantly at over 20% yearly.
  • Village Roadshow's revenue is expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:VRL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Village Roadshow Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:VRL Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.20 0.21 0.18 4.00
2020-06-30 0.16 0.18 0.15 5.00
2019-06-30 0.10 0.12 0.07 3.00
ASX:VRL Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 -0.97
2018-09-30 -0.50
2018-06-30 0.00
2018-03-31 0.35
2017-12-31 0.69
2017-09-30 0.14
2017-06-30 -0.41
2017-03-31 -0.17
2016-12-31 0.08
2016-09-30 0.09
2016-06-30 0.10
2016-03-31 0.13

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Village Roadshow is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Village Roadshow's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Global market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Village Roadshow has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Village Roadshow performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Village Roadshow's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Village Roadshow does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Village Roadshow's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Village Roadshow's 1-year growth to the Global Entertainment industry average as it is not currently profitable.
Earnings and Revenue History
Village Roadshow's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Village Roadshow Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:VRL Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 971.29 -169.26 437.82
2018-09-30 966.42 -84.52 437.82
2018-06-30 961.55 0.22 437.82
2018-03-31 967.28 56.05 439.47
2017-12-31 979.08 111.88 441.11
2017-09-30 995.46 22.58 441.11
2017-06-30 1,011.84 -66.72 441.11
2017-03-31 1,049.95 -27.15 435.63
2016-12-31 1,088.05 12.42 430.16
2016-09-30 1,074.06 14.04 430.16
2016-06-30 1,060.08 15.66 430.16
2016-03-31 1,052.27 21.39 443.87
2015-12-31 1,044.47 27.12 457.59
2015-09-30 1,017.46 35.52 457.59
2015-06-30 990.46 43.92 457.59
2015-03-31 963.20 42.48 453.23
2014-12-31 935.95 41.03 448.86
2014-09-30 946.38 43.40 448.86
2014-06-30 956.81 45.77 448.86
2014-03-31 939.45 40.65 443.42
2013-12-31 922.09 35.53 437.99
2013-09-30 921.53 43.23 437.99
2013-06-30 920.98 50.93 437.99
2013-03-31 925.89 44.95 438.44
2012-12-31 930.81 38.98 438.89
2012-09-30 921.20 36.37 438.89

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Village Roadshow has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Village Roadshow has efficiently used its assets last year compared to the Global Entertainment industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Village Roadshow improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Village Roadshow's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Village Roadshow has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Village Roadshow's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Village Roadshow's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Village Roadshow's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Village Roadshow's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Village Roadshow's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Village Roadshow Company Filings, last reported 6 months ago.

ASX:VRL Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 442.20 315.78 99.39
2018-09-30 442.20 315.78 99.39
2018-06-30 393.81 401.89 63.42
2018-03-31 393.81 401.89 63.42
2017-12-31 567.70 380.96 75.71
2017-09-30 567.70 380.96 75.71
2017-06-30 400.13 627.77 100.43
2017-03-31 400.13 627.77 100.43
2016-12-31 457.12 639.34 85.55
2016-09-30 457.12 639.34 85.55
2016-06-30 480.36 602.93 64.34
2016-03-31 480.36 602.93 64.34
2015-12-31 481.79 600.25 108.69
2015-09-30 481.79 600.25 108.69
2015-06-30 525.64 502.79 95.34
2015-03-31 525.64 502.79 95.34
2014-12-31 517.51 501.26 97.15
2014-09-30 517.51 501.26 97.15
2014-06-30 521.31 482.30 130.38
2014-03-31 521.31 482.30 130.38
2013-12-31 536.95 487.32 139.95
2013-09-30 536.95 487.32 139.95
2013-06-30 572.08 425.96 149.06
2013-03-31 572.08 425.96 149.06
2012-12-31 552.22 429.86 167.62
2012-09-30 552.22 429.86 167.62
  • Village Roadshow's level of debt (95.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (90.8% vs 95.1% today).
  • Debt is not well covered by operating cash flow (14.3%, less than 20% of total debt).
  • Village Roadshow is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Village Roadshow's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Village Roadshow has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Village Roadshow's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Village Roadshow dividends. Estimated to be 4.12% next year.
If you bought A$2,000 of Village Roadshow shares you are expected to receive A$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Village Roadshow's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Village Roadshow's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:VRL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Global Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 54 Stocks 1.3%
Australia Market Average Dividend Yield Market Cap Weighted Average of 415 Stocks 4.1%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.5%
Australia Bottom 25% Dividend Yield 25th Percentile 2.6%
Australia Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:VRL Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.12 6.00
2020-06-30 0.11 8.00
2019-06-30 0.04 6.00
ASX:VRL Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2018-02-15 0.000 0.000
2017-09-22 0.000 0.000
2017-08-23 0.000 0.000
2017-02-16 0.000 0.000
2016-09-15 0.280 6.124
2016-08-25 0.280 5.925
2016-02-24 0.280 5.334
2015-09-17 0.280 4.036
2015-08-24 0.280 4.091
2015-02-24 0.280 4.715
2014-10-17 0.280 4.347
2014-09-19 0.280 4.010
2014-08-21 0.280 3.829
2014-02-18 0.260 3.510
2013-09-05 0.260 3.679
2013-08-22 0.260 4.180
2013-02-20 0.230 4.384
2012-09-06 0.220 5.705
2012-08-23 0.220 6.312
2012-02-21 0.240 7.586
2011-09-07 0.160 5.525
2011-08-18 0.160 5.281
2011-02-15 0.160 4.327
2010-08-31 0.000 0.000
2010-08-16 0.000 0.000
2010-02-25 0.000 0.000
2009-08-27 0.098 5.720
2009-05-11 0.203 19.776
2008-08-28 0.355 33.375

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Village Roadshow has not reported any payouts.
  • Unable to verify if Village Roadshow's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Village Roadshow's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Village Roadshow has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Village Roadshow's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Village Roadshow afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Village Roadshow has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Graham Burke
COMPENSATION A$2,020,725
AGE 77
TENURE AS CEO 0.9 years
CEO Bio

Mr. Graham W. Burke, AO serves as the Chief Executive Officer of Village Roadshow Limited since August 22, 2018. Mr. Burke served as Co-Executive Chairman and Co-Chief Executive Officer of Village Roadshow Limited since November 29, 2013 until August 22, 2018. Mr. Burke has been one of the strategic and creative forces behind Village Roadshow's development and co-founded Roadshow Distributors Pty Ltd with the late Mr. Roc Kirby. Mr. Burke has been an Executive Director at Village Roadshow Limited since September 9, 1988. He served as the Chief Executive Officer and Managing Director of Village Roadshow Limited from September 9, 1988 to November 29, 2013. He has unrivalled experience in the entertainment and film industries and spent four years as the original Commissioner of the Australian Film Commission. He has been integral to strategically developing Warner Bros. Movie World and Village Roadshow's involvement with Sea World as well as ongoing Australian and international film production. He is a Director of Village Roadshow Entertainment Group USA Inc. He serves as a Director of Village Roadshow Corporation Pty. Ltd. and Sea World Management Limited. He is Chairman of Creative Content Australia since March 2016. He founded and served as Director of radio station 2DayFM. He served as a Non-Executive Director of Austereo Group Ltd. from January 19, 2001 to April 7, 2011.

CEO Compensation
  • Graham's compensation has increased whilst company is loss making.
  • Graham's remuneration is higher than average for companies of similar size in Australia.
Management Team Tenure

Average tenure and age of the Village Roadshow management team in years:

7.2
Average Tenure
68
Average Age
  • The average tenure for the Village Roadshow management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Robert Kirby

TITLE
Executive Chairman
COMPENSATION
A$2M
AGE
68

Graham Burke

TITLE
CEO & Executive Director
COMPENSATION
A$2M
AGE
77
TENURE
0.9 yrs

Clark Kirby

TITLE
Chief Operating Officer
COMPENSATION
A$1M
TENURE
7.2 yrs

Simon Phillipson

TITLE
Director of Corporate Affairs & General Counsel
COMPENSATION
A$786K
TENURE
23.2 yrs

Julie Raffe

TITLE
Finance Director & Joint Company Secretary
COMPENSATION
A$934K
AGE
57
TENURE
7.2 yrs

Phil Oneile

TITLE
Chief Marketing Officer of Roadshow Films
TENURE
3 yrs

Graham McHugh

TITLE
Chief Financial Officer of Warner Village Theme Parks

Eduardo Astrada

TITLE
Managing Director - Argentina - Village Gold Class Cinemas

Antonio Maldonado

TITLE
Managing Director of Italy - Village Gold Class Cinemas

Glen Barros

TITLE
Chief Operating Officer of Concord Music
Board of Directors Tenure

Average tenure and age of the Village Roadshow board of directors in years:

9.7
Average Tenure
64.5
Average Age
  • The tenure for the Village Roadshow board of directors is about average.
Board of Directors

Robert Kirby

TITLE
Executive Chairman
COMPENSATION
A$2M
AGE
68
TENURE
0.9 yrs

Graham Burke

TITLE
CEO & Executive Director
COMPENSATION
A$2M
AGE
77
TENURE
30.8 yrs

Julie Raffe

TITLE
Finance Director & Joint Company Secretary
COMPENSATION
A$934K
AGE
57
TENURE
7.2 yrs

Bruce Berman

TITLE
Chairman & CEO of Village Roadshow Pictures Entertainment Inc
COMPENSATION
A$3M
TENURE
19.5 yrs

Robert Le Tet

TITLE
Independent Non Executive Director
COMPENSATION
A$150K
AGE
75
TENURE
12.3 yrs

Tim Antonie

TITLE
Lead Independent Director
COMPENSATION
A$195K
AGE
53
TENURE
1.8 yrs

John Kirby

TITLE
Director
COMPENSATION
A$133K
AGE
72
TENURE
30.9 yrs

Jennifer Fox Gambrell

TITLE
Independent Non-Executive Director
COMPENSATION
A$140K
AGE
61
TENURE
3.7 yrs

Peter Tonagh

TITLE
Independent Non-Executive Director
AGE
52
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
16. May 19 Sell Mittleman Brothers, LLC Company 22. Nov 17 14. May 19 -1,722,346 A$3.33 A$-5,741,562
16. May 19 Buy Mittleman Brothers, LLC Company 28. Sep 17 17. Jan 19 4,124,233 A$2.30 A$9,466,762
22. Oct 18 Sell Robert Kirby Investments Pty Ltd Company 23. Oct 18 23. Oct 18 -1,000,000 A$2.21 A$-2,209,999
12. Sep 18 Sell Robert Kirby Investments Pty Ltd Company 06. Sep 18 12. Sep 18 -480,598 A$2.22 A$-1,057,477
07. Dec 18 Buy Julie Raffe Individual 07. Dec 18 07. Dec 18 200,000 A$2.50 A$500,000
12. Sep 18 Sell John Kirby Individual 06. Sep 18 06. Sep 18 -246,760 A$2.21 A$-545,340
03. Aug 18 Buy Timothy Antonie Individual 02. Aug 18 02. Aug 18 4,325 A$1.65 A$7,136
03. Aug 18 Buy Robert Le Tet Individual 02. Aug 18 02. Aug 18 45,084 A$1.65 A$74,389
03. Aug 18 Buy Julie Raffe Individual 02. Aug 18 02. Aug 18 143,724 A$1.65 A$237,145
03. Aug 18 Buy David Evans Individual 02. Aug 18 02. Aug 18 21,533 A$1.65 A$35,529
07. Aug 18 Buy Graham Burke Individual 02. Aug 18 02. Aug 18 144,231 A$1.65 A$237,981
07. Aug 18 Buy John Kirby Individual 02. Aug 18 02. Aug 18 237,623 A$1.65 A$392,078
26. Jul 18 Sell John Kirby Individual 24. Jul 18 24. Jul 18 -1,226,500 A$1.87 A$-2,293,555
X
Management checks
We assess Village Roadshow's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Village Roadshow has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Kind Of Investor Owns Most Of Village Roadshow Limited (ASX:VRL)?

View our latest analysis for Village Roadshow ASX:VRL Ownership Summary, June 13th 2019 What Does The Institutional Ownership Tell Us About Village Roadshow? … As you can see, institutional investors own 10% of Village Roadshow. … Insider Ownership Of Village Roadshow While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

Have Insiders Been Selling Village Roadshow Limited (ASX:VRL) Shares?

So before you buy or sell Village Roadshow Limited (ASX:VRL), you may well want to know whether insiders have been buying or selling. … It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. … Village Roadshow Insider Transactions Over The Last Year.

Simply Wall St -

Village Roadshow Limited (ASX:VRL): Time For A Financial Health Check

Investors are always looking for growth in small-cap stocks like Village Roadshow Limited (ASX:VRL), with a market cap of AU$626m. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.

Simply Wall St -

Those Who Purchased Village Roadshow (ASX:VRL) Shares Five Years Ago Have A 54% Loss To Show For It

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over five years Village Roadshow's earnings per share dropped significantly, falling to a loss, with the share price also lower. … At present it's hard to make valid comparisons between EPS and the share price.

Simply Wall St -

Is Village Roadshow Limited (ASX:VRL) Struggling With Its 0.01% Return On Capital Employed?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Estimating The Fair Value Of Village Roadshow Limited (ASX:VRL)

by taking the foreast future cash flows of the company and discounting them back to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

What Does Village Roadshow Limited's (ASX:VRL) Ownership Structure Look Like?

In this analysis, my focus will be on developing a perspective on Village Roadshow Limited’s (ASX:VRL) latest ownership structure, a less discussed, but important factor. … The impact of a company's ownership structure affects both its short- and long-term performance. … ASX:VRL Ownership Summary August 23rd 18

Simply Wall St -

Should Village Roadshow Limited's (ASX:VRL) Recent Earnings Worry You?

When Village Roadshow Limited (ASX:VRL) released its most recent earnings update (31 December 2017), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Were VRL's earnings stronger than its past performances and the industry. … VRL's trailing twelve-month earnings (from 31 December 2017) of AU$111.88m has

Simply Wall St -

What Should You Know About Village Roadshow Limited's (ASX:VRL) Capital Returns?

and want to better understand how you can grow your money by investing in Village Roadshow Limited (ASX:VRL). … Thus, to understand how your money can grow by investing in Village Roadshow, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE) … Village Roadshow's Return On Capital Employed

Simply Wall St -

Village Roadshow Limited (ASX:VRL): Time For A Financial Health Check

Investors are always looking for growth in small-cap stocks like Village Roadshow Limited (ASX:VRL), with a market cap of AU$367.42m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

Company Info

Description

Village Roadshow Limited engages in the theme park and water park operation, film and DVD distribution, cinema exhibition operation, and sales promotion and loyalty program operation businesses in Australia and internationally. The company owns and operates theme parks and water parks that provide entertainment, rides, and slides for families and thrill seekers in Queensland's Gold Coast and Sydney, Australia, as well as Las Vegas. It also operates approximately 680 screens at 83 sites in Australia and internationally. In addition, the company distributes theatrical movies to cinema, pay television, and free to air television in Australia and New Zealand; and theatrical, television, and children's content for electronic sell and transactional video-on-demand through iTunes, Foxtel, Telstra Bigpond, and other online platforms, as well as DVD, Blu-ray, and digital products to the retail and rental channels, and online platforms. Further, it is involved in the television production business; and development, financing, production, marketing, and distribution of films, as well as provision of digital platforms and rewards, and loyalty programs. The company was formerly known as De Laurentis Entertainment Limited and changed its name to Village Roadshow Limited in 1998. The company was founded in 1954 and is based in South Yarra, Australia. Village Roadshow Limited is a subsidiary of Village Roadshow Corporation Pty. Limited.

Details
Name: Village Roadshow Limited
VRL
Exchange: ASX
Founded: 1954
A$527,195,838
195,257,718
Website: http://www.villageroadshow.com.au
Address: Village Roadshow Limited
500 Chapel Street,
Level 1,
South Yarra,
Victoria, 3141,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX VRL Ordinary Shares Australian Securities Exchange AU AUD 02. Jan 1992
OTCPK VLRD.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
CHIA VRL Ordinary Shares Chi-X Australia AU AUD 02. Jan 1992
Number of employees
Current staff
Staff numbers
0
Village Roadshow employees.
Industry
Movies and Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 10:34
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/02
Last earnings filing: 2019/02/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.