TSXV:VCI

Stock Analysis Report

Executive Summary

Vitreous Glass Inc. cleans, crushes, and sells waste glass to the fiberglass manufacturing industry in Alberta, Canada.

Rewards

Trading at 33.4% below its fair value

Risk Analysis

Earnings have declined by -1.48% per year over past 5 years

Unstable dividend track record

Does not have a meaningful market cap (CA$22M)



Snowflake Analysis

Flawless balance sheet and good value.

Share Price & News

How has Vitreous Glass's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.4%

VCI

-0.1%

CA Basic Materials

0.1%

CA Market


1 Year Return

-2.0%

VCI

46.2%

CA Basic Materials

12.2%

CA Market

Return vs Industry: VCI underperformed the Canadian Basic Materials industry which returned 46.2% over the past year.

Return vs Market: VCI underperformed the Canadian Market which returned 12.2% over the past year.


Shareholder returns

VCIIndustryMarket
7 Day-1.4%-0.1%0.1%
30 Day-4.9%2.1%0.2%
90 Day-10.0%1.9%0.4%
1 Year6.4%-2.0%47.6%46.2%15.9%12.2%
3 Year28.3%-2.5%14.3%11.5%16.0%5.4%
5 Year106.5%25.9%106.0%97.3%33.5%13.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Vitreous Glass undervalued compared to its fair value and its price relative to the market?

33.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VCI (CA$3.5) is trading below our estimate of fair value (CA$5.25)

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


Price To Earnings Ratio

PE vs Industry: VCI is good value based on its PE Ratio (12.4x) compared to the Basic Materials industry average (24.6x).

PE vs Market: VCI is good value based on its PE Ratio (12.4x) compared to the Canadian market (15.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: VCI is overvalued based on its PB Ratio (5.8x) compared to the XN Basic Materials industry average (2x).


Next Steps

Future Growth

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

19.6%

Forecasted Materials 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 Vitreous Glass 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.


Next Steps

Past Performance

How has Vitreous Glass performed over the past 5 years?

-1.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VCI has high quality earnings.

Growing Profit Margin: VCI's current net profit margins (20.8%) are lower than last year (24.6%).


Past Earnings Growth Analysis

Earnings Trend: VCI's earnings have declined by -1.5% per year over the past 5 years.

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

Earnings vs Industry: VCI had negative earnings growth (-16.6%) over the past year, making it difficult to compare to the Basic Materials industry average (-20.1%).


Return on Equity

High ROE: VCI's Return on Equity (46.5%) is considered outstanding.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Vitreous Glass's financial position?


Financial Position Analysis

Short Term Liabilities: VCI's short term assets (CA$3.2M) exceed its short term liabilities (CA$910.3K).

Long Term Liabilities: VCI's short term assets (CA$3.2M) exceed its long term liabilities (CA$183.2K).


Debt to Equity History and Analysis

Debt Level: VCI is debt free.

Reducing Debt: VCI had no debt 5 years ago.

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

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


Balance Sheet

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

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


Next Steps

Dividend

What is Vitreous Glass's current dividend yield, its reliability and sustainability?

8.86%

Current Dividend Yield


Dividend Yield vs Market

company8.9%marketbottom25%2.0%markettop25%5.6%industryaverage0.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: VCI's dividend (8.86%) is higher than the bottom 25% of dividend payers in the Canadian market (2%).

High Dividend: VCI's dividend (8.86%) is in the top 25% of dividend payers in the Canadian market (5.65%)


Stability and Growth of Payments

Stable Dividend: VCI's dividend payments have been volatile in the past 10 years.

Growing Dividend: VCI's dividend payments have increased over the past 10 years.


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


Next Steps

Management

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

7.7yrs

Average board tenure


CEO

Pat Cashion 0

0yrs

Tenure

CA$916,232

Compensation

Mr. J. Patrick Cashion, also known as Pat, has been the President of Vitreous Glass Inc. (formerly, Vitreous Capital Inc.) since February 01, 1993 and serves as its Chief Executive Officer and Director. Mr ...


CEO Compensation Analysis

Compensation vs Market: Pat's total compensation ($USD694.06K) is above average for companies of similar size in the Canadian market ($USD170.44K).

Compensation vs Earnings: Pat's compensation has been consistent with company performance over the past year.


Board Age and Tenure

7.7yrs

Average Tenure

Experienced Board: VCI's board of directors are considered experienced (7.7 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.


Ownership Breakdown

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


Management Team

  • Pat Cashion

    President

    • Tenure: 0yrs
    • Compensation: CA$916.23k
  • Timothy Rendell

    CFO & Director

    • Tenure: 6.8yrs
    • Compensation: CA$50.63k

Board Members

  • Pat Cashion

    President

    • Tenure: 0yrs
    • Compensation: CA$916.23k
  • Peter Schenkelberg

    Independent Director

    • Tenure: 15.8yrs
    • Compensation: CA$10.00k
  • Dave Birkby

    Independent Director

    • Tenure: 7.7yrs
    • Compensation: CA$10.00k
  • Timothy Rendell

    CFO & Director

    • Tenure: 6.8yrs
    • Compensation: CA$50.63k
  • Meredith Cashion

    Director

    • Tenure: 2.8yrs
    • Compensation: CA$10.00k

Company Information

Vitreous Glass Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vitreous Glass Inc.
  • Ticker: VCI
  • Exchange: TSXV
  • Founded:
  • Industry: Construction Materials
  • Sector: Materials
  • Market Cap: CA$21.993m
  • Shares outstanding: 6.28m
  • Website: https://www.vitreousglass.ca

Location

  • Vitreous Glass Inc.
  • 212 East Lake Boulevard NE
  • Airdrie
  • Alberta
  • T4A 2G2
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VCITSXV (TSX Venture Exchange)YesCommon SharesCACADNov 1992
VCIG.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDNov 1992

Biography

Vitreous Glass Inc. cleans, crushes, and sells waste glass to the fiberglass manufacturing industry in Alberta, Canada. It offers its products to the manufacturers of fiberglass building insulation for use ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/14 23:51
End of Day Share Price2019/12/12 00:00
Earnings2019/09/30
Annual Earnings2019/09/30


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.