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Vitreous Glass TSXV:VCI Stock Report

Last Price


Market Cap







04 Jul, 2022


Company Financials
VCI fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance2/6
Financial Health6/6

VCI Stock Overview

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

Vitreous Glass Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Vitreous Glass
Historical stock prices
Current Share PriceCA$4.65
52 Week HighCA$6.50
52 Week LowCA$4.40
1 Month Change-5.68%
3 Month Change-7.00%
1 Year Change-2.92%
3 Year Change18.02%
5 Year Change29.53%
Change since IPO93.75%

Recent News & Updates

Mar 01
Vitreous Glass Inc.'s (CVE:VCI) CEO Compensation Is Looking A Bit Stretched At The Moment

Vitreous Glass Inc.'s (CVE:VCI) CEO Compensation Is Looking A Bit Stretched At The Moment

CEO Pat Cashion has done a decent job of delivering relatively good performance at Vitreous Glass Inc. ( CVE:VCI...

Shareholder Returns

VCICA Basic MaterialsCA Market

Return vs Industry: VCI exceeded the Canadian Basic Materials industry which returned -26.4% over the past year.

Return vs Market: VCI exceeded the Canadian Market which returned -5% over the past year.

Price Volatility

Is VCI's price volatile compared to industry and market?
VCI volatility
VCI Average Weekly Movement5.4%
Basic Materials Industry Average Movement6.1%
Market Average Movement10.1%
10% most volatile stocks in CA Market17.5%
10% least volatile stocks in CA Market4.4%

Stable Share Price: VCI is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: VCI's weekly volatility (5%) has been stable over the past year.

About the Company

n/an/aPat Cashion

Vitreous Glass Inc. cleans, crushes, and sells waste glass to the fiberglass manufacturing industry in Canada. The company offers its products to fiberglass insulation manufacturers for use as furnace ready cullet for use in their production facilities. Vitreous Glass Inc. is headquartered in Airdrie, Canada.

Vitreous Glass Fundamentals Summary

How do Vitreous Glass's earnings and revenue compare to its market cap?
VCI fundamental statistics
Market CapCA$29.22m
Earnings (TTM)CA$2.62m
Revenue (TTM)CA$10.38m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VCI income statement (TTM)
Cost of RevenueCA$5.20m
Gross ProfitCA$5.18m
Other ExpensesCA$2.55m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)0.42
Gross Margin49.89%
Net Profit Margin25.28%
Debt/Equity Ratio0%

How did VCI perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is VCI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VCI?

Other financial metrics that can be useful for relative valuation.

VCI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.7x
Enterprise Value/EBITDA7.9x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does VCI's PE Ratio compare to its peers?

VCI PE Ratio vs Peers
The above table shows the PE ratio for VCI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9.1x
AMI Athabasca Minerals
FBF Fab-Form Industries
RDS Radisson Mining Resources
SRL Salazar Resources
VCI Vitreous Glass

Price-To-Earnings vs Peers: VCI is expensive based on its Price-To-Earnings Ratio (11.1x) compared to the peer average (9.1x).

Price to Earnings Ratio vs Industry

How does VCI's PE Ratio compare vs other companies in the Global Basic Materials Industry?

Price-To-Earnings vs Industry: VCI is good value based on its Price-To-Earnings Ratio (11.1x) compared to the North American Basic Materials industry average (13.3x)

Price to Earnings Ratio vs Fair Ratio

What is VCI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VCI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate VCI's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of VCI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VCI (CA$4.65) is trading above our estimate of fair value (CA$2.78)

Significantly Below Fair Value: VCI is trading above our estimate of fair value.

Price to Earnings Growth Ratio

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

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Future Growth

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

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


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.

Discover growth companies

  • Examine Vitreous Glass's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • Vitreous Glass competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Vitreous Glass performed over the past 5 years?

Past Performance Score


Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

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

Growing Profit Margin: VCI's current net profit margins (25.3%) are lower than last year (28.5%).

Past Earnings Growth Analysis

Earnings Trend: VCI's earnings have grown by 10.7% 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 (-13.5%) over the past year, making it difficult to compare to the Basic Materials industry average (-12.2%).

Return on Equity

High ROE: VCI's Return on Equity (61.6%) is considered outstanding.

Discover strong past performing companies

Financial Health

How is Vitreous Glass's financial position?

Financial Health Score


Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: VCI's short term assets (CA$3.2M) exceed its short term liabilities (CA$826.6K).

Long Term Liabilities: VCI's short term assets (CA$3.2M) exceed its long term liabilities (CA$238.3K).

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

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

Dividend Score


Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: VCI's dividend (7.31%) is higher than the bottom 25% of dividend payers in the Canadian market (2.02%).

High Dividend: VCI's dividend (7.31%) is in the top 25% of dividend payers in the Canadian market (5.4%)

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.

Earnings Payout to Shareholders

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

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (123.2%), VCI's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Pat Cashion





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

CEO Compensation Analysis

Compensation vs Market: Pat's total compensation ($USD961.57K) is above average for companies of similar size in the Canadian market ($USD191.19K).

Compensation vs Earnings: Pat's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

Leadership Team

Experienced Management: VCI's management team is seasoned and experienced (9.9 years average tenure).

Board Members

Experienced Board: VCI's board of directors are considered experienced (9.3 years average tenure).


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.

Recent Insider Transactions

Ownership Breakdown

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

Top Shareholders

Company Information

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

Key Information

  • Name: Vitreous Glass Inc.
  • Ticker: VCI
  • Exchange: TSXV
  • Founded: NaN
  • Industry: Construction Materials
  • Sector: Materials
  • Implied Market Cap: CA$29.219m
  • Shares outstanding: 6.28m
  • Website:


  • Vitreous Glass Inc.
  • 212 East Lake Boulevard NE
  • Airdrie
  • Alberta
  • T4A 0H5
  • Canada


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/04 00:00
End of Day Share Price2022/07/04 00:00
Annual Earnings2021/09/30

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.