ASX:VOL

Stock Analysis Report

Executive Summary

Victory Offices Limited provides workspace services for individuals and businesses in Australia.

Snowflake

Fundamentals

Excellent balance sheet and fair value.


Similar Companies

Share Price & News

How has Victory Offices's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.6%

VOL

3.0%

AU Real Estate

2.5%

AU Market


1 Year Return

n/a

VOL

2.9%

AU Real Estate

11.1%

AU Market

Return vs Industry: Insufficient data to determine how VOL performed against the Australian Real Estate industry.

Return vs Market: Insufficient data to determine how VOL performed against the Australian Market.


Shareholder returns

VOLIndustryMarket
7 Day1.6%3.0%2.5%
30 Day2.9%2.1%0.7%
90 Day23.5%13.2%1.4%
1 Yearn/a6.1%2.9%17.5%11.1%
3 Yearn/a22.2%9.4%37.8%19.4%
5 Yearn/a40.1%15.7%51.7%17.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Victory Offices undervalued compared to its fair value and its price relative to the market?

6.87x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: Insufficient data to calculate VOL's fair value to establish if it is undervalued.

Significantly Undervalued: Insufficient data to calculate VOL's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: VOL is good value based on its PE Ratio (6.9x) compared to the Real Estate industry average (12.9x).

PE vs Market: VOL is good value based on its PE Ratio (6.9x) compared to the Australian market (18x).


Price to Earnings Growth Ratio

Low PEG Ratio: VOL is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: VOL is overvalued based on its PB Ratio (2.3x) compared to the AU Real Estate industry average (1x).


Next Steps

Future Growth

How is Victory Offices forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

16.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VOL's forecast earnings growth (16.3% per year) is above the savings rate (2.3%).

Earnings vs Market: VOL's earnings (16.3% per year) are forecast to grow faster than the Australian market (10.3% per year).

High Growth Earnings: VOL's earnings are forecast to grow, but not significantly.

Revenue vs Market: VOL's revenue (18% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: VOL's revenue (18% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: VOL's Return on Equity is forecast to be low in 3 years time (18.3%).


Next Steps

Past Performance

How has Victory Offices performed over the past 5 years?

67.1%

Last years earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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

Accelerating Growth: Insufficient data to compare VOL's past year earnings growth to its 5-year average.

Earnings vs Industry: VOL earnings growth over the past year (67.1%) exceeded the Real Estate industry -2.5%.


Return on Equity

High ROE: VOL's Return on Equity (21.5%) is considered high.


Return on Assets

ROA vs Industry: VOL has a higher Return on Assets than the Real Estate industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate VOL's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Victory Offices's financial position?


Financial Position Analysis

Short Term Liabilities: VOL's short term assets (A$24.4M) exceeds its short term liabilities (A$12.2M)

Long Term Liabilities: VOL's short term assets (24.4M) do not cover its long term liabilities (153.2M)


Debt to Equity History and Analysis

Debt Level: VOL is debt free.

Reducing Debt: VOL had no debt 5 years ago.

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

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


Balance Sheet

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

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


Next Steps

Dividend

What is Victory Offices's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.5%markettop25%5.6%industryaverage2.7%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

Growing Dividend: Insufficient data to determine if VOL'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 VOL'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 Victory Offices's salary, the management and board of directors tenure and is there insider trading?


CEO

Victory Offices has no CEO, or we have no data on them.


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$976,28012 Sep 19
Perennial Value Management Limited
EntityCompany
Shares451,524
Max PriceAU$2.40
BuyAU$1,992,14101 Jul 19
Perennial Value Management Limited
EntityCompany
Shares946,556
Max PriceAU$2.10
BuyAU$5,499,99718 Jun 19
Perennial Value Management Limited
EntityCompany
Shares2,750,000
Max PriceAU$2.00
BuyAU$4,499,99918 Jun 19
Perpetual Limited
EntityCompany
Shares2,250,000
Max PriceAU$2.00

Ownership Breakdown


Management Team


    Board Members

      Company Information

      Victory Offices Limited's company bio, employee growth, exchange listings and data sources


      Key Information

      • Name: Victory Offices Limited
      • Ticker: VOL
      • Exchange: ASX
      • Founded: 2013
      • Industry: Real Estate Operating Companies
      • Sector: Real Estate
      • Market Cap: AU$103.886m
      • Shares outstanding: 40.90m
      • Website: https://www.victoryoffices.com.au

      Number of Employees


      Location

      • Victory Offices Limited
      • Victory Tower
      • Level 2
      • Melbourne
      • Victoria
      • 3000
      • Australia

      Listings

      TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
      VOLASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJun 2019
      VOLCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJun 2019

      Biography

      Victory Offices Limited provides workspace services for individuals and businesses in Australia. It offers space to private serviced, virtual, and day offices; and co-working, hot desks, and shared and mee ...


      Company Analysis and Financial Data Status

      All financial data provided by Standard & Poor's Capital IQ.
      DataLast Updated (UTC time)
      Company Analysis2019/10/17 10:40
      End of Day Share Price2019/10/17 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.