Vitreous Glass
Vitreous Glass Inc. cleans, crushes, and sells waste glass to the fiberglass manufacturing industry in Alberta, Canada. The last earnings update was 20 days ago. More info.
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VCI Share Price and Events
7 Day Returns
1 Year Returns
VCI Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Vitreous Glass (VCI) | 0% | 1.4% | 3.6% | -2.6% | 15.3% | 43.4% |
| North America Basic Materials | -1.3% | 1.6% | 15.2% | -12.6% | 10.9% | 50.5% |
| CA Market | 0.9% | 2.3% | 12.4% | 1.2% | 16.1% | 5.9% |
1 Year Return vs Industry and Market
- VCI outperformed the Basic Materials industry which returned -12.6% over the past year.
- VCI underperformed the Market in Canada which returned 1.2% over the past year.
VCI Value
Is Vitreous Glass 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
Vitreous Glass
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Vitreous Glass.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Extrapolated from most recent financials. | See below |
| Discount Rate (Cost of Equity) | See below | 7.4% |
| Perpetual Growth Rate | 10-Year CA Government Bond Rate | 1.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 6% |
| Basic Materials Unlevered Beta | Simply Wall St/ S&P Global | 0.88 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.884 (1 + (1- 26.5%) (0%)) |
0.922 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.92 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.922 * 5.96%) |
7.44% |
Discounted Cash Flow Calculation for TSXV:VCI using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Vitreous Glass 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.
| Levered FCF (CAD, Millions) | Source |
Present Value Discounted (@ 7.44%) |
|
|---|---|---|---|
| 2019 | 1.98 | Est @ -2.69% | 1.84 |
| 2020 | 1.95 | Est @ -1.3% | 1.69 |
| 2021 | 1.94 | Est @ -0.33% | 1.57 |
| 2022 | 1.95 | Est @ 0.36% | 1.46 |
| 2023 | 1.97 | Est @ 0.83% | 1.37 |
| 2024 | 1.99 | Est @ 1.17% | 1.29 |
| 2025 | 2.02 | Est @ 1.4% | 1.22 |
| 2026 | 2.05 | Est @ 1.56% | 1.15 |
| 2027 | 2.08 | Est @ 1.68% | 1.09 |
| 2028 | 2.12 | Est @ 1.76% | 1.03 |
| Present value of next 10 years cash flows | CA$13.73 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CA$2.12 × (1 + 1.95%) ÷ (7.44% – 1.95%) |
CA$39.34 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CA$39.34 ÷ (1 + 7.44%)10 |
CA$19.19 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CA$13.73 + CA$19.19 |
CA$32.92 |
| Equity Value per Share (CAD) |
= Total value / Shares Outstanding
= CA$32.92 / 6.28 |
CA$5.24 |
| Calculation | Result | |
|---|---|---|
| Value per share (CAD) | From above. | CA$5.24 |
| Current discount | Discount to share price of
CA$3.70
= -1 x (CA$3.70 - CA$5.24) / CA$5.24 |
29.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Vitreous Glass's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Vitreous Glass's share price is below the future cash flow value, but not 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 Vitreous Glass's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Vitreous Glass's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in CAD | CA$0.34 |
| TSXV:VCI Share Price ** | TSXV (2019-03-19) in CAD | CA$3.7 |
| North America Basic Materials Industry PE Ratio | Median Figure of 14 Publicly-Listed Basic Materials Companies | 22.34x |
| Canada Market PE Ratio | Median Figure of 542 Publicly-Listed Companies | 14.83x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Vitreous Glass.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSXV:VCI Share Price ÷ EPS (both in CAD) = 3.7 ÷ 0.34 |
10.99x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Vitreous Glass is good value based on earnings compared to the North America Basic Materials industry average.
- Vitreous Glass is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does
Vitreous Glass's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 10.99x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
-11.1%per year |
| North America Basic Materials Industry PEG Ratio | Median Figure of 7 Publicly-Listed Basic Materials Companies | 1.29x |
| Canada Market PEG Ratio | Median Figure of 252 Publicly-Listed Companies | 1.21x |
*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 Vitreous Glass, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Vitreous Glass's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in CAD | CA$0.69 |
| TSXV:VCI Share Price * | TSXV (2019-03-19) in CAD | CA$3.7 |
| North America Basic Materials Industry PB Ratio | Median Figure of 17 Publicly-Listed Basic Materials Companies | 2.19x |
| Canada Market PB Ratio | Median Figure of 2,347 Publicly-Listed Companies | 1.56x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSXV:VCI Share Price ÷ Book Value per Share (both in CAD) = 3.7 ÷ 0.69 |
5.38x |
* Primary Listing of Vitreous Glass.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Vitreous Glass is overvalued based on assets compared to the North America Basic Materials industry average.
Value checks
We assess Vitreous Glass's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Basic Materials industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Basic Materials industry average (and greater than 0)? (1 check) Vitreous Glass 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.
VCI Future Performance
- No analysts cover Vitreous Glass, future earnings growth has been estimated based on fundamentals.
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!
Earnings growth vs Low Risk Savings
- Vitreous Glass's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
- Vitreous Glass's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
- Unable to compare Vitreous Glass's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSXV:VCI Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts | -11.1% |
| North America Basic Materials Industry Earnings Growth Rate | Market Cap Weighted Average | 18.8% |
| North America Basic Materials Industry Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 17.9% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 6.8% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CAD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 9 | 2 | 2 |
| 2018-09-30 | 9 | 2 | 2 |
| 2018-06-30 | 8 | 2 | 2 |
| 2018-03-31 | 8 | 2 | 2 |
| 2017-12-31 | 8 | 2 | 2 |
| 2017-09-30 | 8 | 2 | 2 |
| 2017-06-30 | 8 | 3 | 2 |
| 2017-03-31 | 8 | 3 | 2 |
| 2016-12-31 | 8 | 3 | 2 |
| 2016-09-30 | 8 | 4 | 2 |
| 2016-06-30 | 9 | 3 | 2 |
| 2016-03-31 | 9 | 3 | 2 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
All data from Vitreous Glass Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CAD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.34 |
| 2018-09-30 | 0.34 |
| 2018-06-30 | 0.31 |
| 2018-03-31 | 0.32 |
| 2017-12-31 | 0.33 |
| 2017-09-30 | 0.31 |
| 2017-06-30 | 0.31 |
| 2017-03-31 | 0.30 |
| 2016-12-31 | 0.30 |
| 2016-09-30 | 0.33 |
| 2016-06-30 | 0.33 |
| 2016-03-31 | 0.32 |
*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.
- Unable to establish if Vitreous Glass will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Vitreous Glass's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Vitreous Glass has a total score of 0/6, 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.
VCI Past Performance
How has Vitreous Glass 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
Past Earnings growth analysis
- Vitreous Glass's year on year earnings growth rate has been positive over the past 5 years.
- Vitreous Glass's 1-year earnings growth is less than its 5-year average (1.3% vs 2.9%)
- Vitreous Glass's earnings growth has exceeded the North America Basic Materials industry average in the past year (1.3% vs -19.4%).
Earnings and Revenue History
All data from Vitreous Glass Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CAD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 8.83 | 2.12 | 1.20 | |
| 2018-09-30 | 8.63 | 2.12 | 1.19 | |
| 2018-06-30 | 7.71 | 1.98 | 1.15 | |
| 2018-03-31 | 7.81 | 2.03 | 1.16 | |
| 2017-12-31 | 8.42 | 2.09 | 1.17 | |
| 2017-09-30 | 8.23 | 1.92 | 1.12 | |
| 2017-06-30 | 7.90 | 1.93 | 1.09 | |
| 2017-03-31 | 7.77 | 1.90 | 1.08 | |
| 2016-12-31 | 7.71 | 1.90 | 1.08 | |
| 2016-09-30 | 8.02 | 2.09 | 1.13 | |
| 2016-06-30 | 8.56 | 2.06 | 1.17 | |
| 2016-03-31 | 8.56 | 2.02 | 1.17 | |
| 2015-12-31 | 8.70 | 2.08 | 1.17 | |
| 2015-09-30 | 8.44 | 1.97 | 1.13 | |
| 2015-06-30 | 8.47 | 2.15 | 1.14 | |
| 2015-03-31 | 8.62 | 2.27 | 1.15 | |
| 2014-12-31 | 8.26 | 2.06 | 1.10 | |
| 2014-09-30 | 8.21 | 2.02 | 1.08 | |
| 2014-06-30 | 7.50 | 1.75 | 0.95 | |
| 2014-03-31 | 7.13 | 1.56 | 0.93 | |
| 2013-12-31 | 6.86 | 1.40 | 0.87 | |
| 2013-09-30 | 6.93 | 1.37 | 0.86 | |
| 2013-06-30 | 7.08 | 1.34 | 0.89 | |
| 2013-03-31 | 7.17 | 1.33 | 0.89 | |
| 2012-12-31 | 7.19 | 1.38 | 0.90 | |
| 2012-09-30 | 7.14 | 1.36 | 0.88 | |
| 2012-06-30 | 7.17 | 1.41 | 0.84 | |
| 2012-03-31 | 6.72 | 1.21 | 0.72 |
*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.
- Vitreous Glass made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
- Vitreous Glass used its assets more efficiently than the North America Basic Materials industry average last year based on Return on Assets.
- Vitreous Glass's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Vitreous Glass's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Basic Materials industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Vitreous Glass has a total score of 4/6, 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.
VCI Health
How is Vitreous Glass'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 Vitreous Glass's finances.
The net worth of a company is the difference between its assets and liabilities.
- Vitreous Glass is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Vitreous Glass's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Vitreous Glass has no debt, it does not need to be covered by short term assets.
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.
All data from Vitreous Glass Company Filings, last reported 2 months ago.
| Date (Data in CAD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 4.32 | 0.00 | 1.75 |
| 2018-09-30 | 4.37 | 0.00 | 1.66 |
| 2018-06-30 | 4.15 | 0.00 | 1.26 |
| 2018-03-31 | 4.22 | 0.00 | 1.13 |
| 2017-12-31 | 4.47 | 0.00 | 1.56 |
| 2017-09-30 | 4.39 | 0.00 | 1.46 |
| 2017-06-30 | 4.25 | 0.00 | 1.08 |
| 2017-03-31 | 4.51 | 0.00 | 1.06 |
| 2016-12-31 | 4.58 | 0.00 | 1.20 |
| 2016-09-30 | 4.61 | 0.00 | 1.53 |
| 2016-06-30 | 4.90 | 0.00 | 1.00 |
| 2016-03-31 | 4.72 | 0.00 | 0.38 |
| 2015-12-31 | 4.15 | 0.52 | 0.12 |
| 2015-09-30 | 5.11 | 0.00 | 0.59 |
| 2015-06-30 | 5.24 | 0.00 | 0.81 |
| 2015-03-31 | 5.16 | 0.00 | 0.64 |
| 2014-12-31 | 5.09 | 0.00 | 0.74 |
| 2014-09-30 | 5.10 | 0.00 | 0.52 |
| 2014-06-30 | 5.11 | 0.00 | 0.55 |
| 2014-03-31 | 4.97 | 0.00 | 0.53 |
| 2013-12-31 | 5.02 | 0.01 | 0.17 |
| 2013-09-30 | 4.82 | 0.07 | 0.17 |
| 2013-06-30 | 4.90 | 0.00 | 0.04 |
| 2013-03-31 | 4.95 | 0.00 | 0.28 |
| 2012-12-31 | 5.12 | 0.16 | 0.17 |
| 2012-09-30 | 5.26 | 0.00 | 0.38 |
| 2012-06-30 | 5.21 | 0.00 | 0.28 |
| 2012-03-31 | 5.16 | 0.00 | 0.38 |
- Vitreous Glass has no debt.
- Vitreous Glass has no debt compared to 5 years ago when it was 0.2%.
- Vitreous Glass has no debt, it does not need to be covered by operating cash flow.
- Vitreous Glass has no debt, therefore coverage of interest payments is not a concern.
Financial health checks
We assess Vitreous Glass's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Vitreous Glass has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
VCI Dividends
What is Vitreous Glass'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
If you bought
CA$2,000 of
Vitreous Glass
shares you are expected to receive
CA$200
in your first year as a dividend.
Dividend Amount
- Vitreous Glass's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.09%).
- Vitreous Glass's dividend is above the markets top 25% of dividend payers in Canada (5.67%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| North America Basic Materials Industry Average Dividend Yield | Market Cap Weighted Average of 8 Stocks | 1.1% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 330 Stocks | 3.5% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CA$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-01-14 | 0.370 | 10.082 |
| 2018-10-11 | 0.360 | 10.087 |
| 2018-07-16 | 0.340 | 9.358 |
| 2018-04-13 | 0.330 | 9.084 |
| 2018-01-15 | 0.370 | 9.620 |
| 2017-10-18 | 0.350 | 9.195 |
| 2017-07-13 | 0.000 | 0.000 |
| 2017-04-13 | 0.410 | 11.139 |
| 2016-10-17 | 0.250 | 6.862 |
| 2016-07-15 | 0.270 | 7.632 |
| 2016-04-18 | 0.240 | 7.335 |
| 2015-10-19 | 0.330 | 9.569 |
| 2015-08-25 | 0.320 | 10.166 |
| 2015-04-17 | 0.330 | 11.645 |
| 2015-02-27 | 0.340 | 12.140 |
| 2014-12-10 | 0.340 | 12.460 |
| 2014-07-21 | 0.300 | 11.236 |
| 2014-04-16 | 0.270 | 10.036 |
| 2014-01-13 | 0.270 | 9.996 |
| 2013-10-21 | 0.250 | 8.848 |
| 2013-07-15 | 0.300 | 11.292 |
| 2013-04-22 | 0.290 | 11.455 |
| 2013-01-21 | 0.280 | 12.947 |
| 2012-10-18 | 0.360 | 17.671 |
| 2012-08-07 | 0.240 | 11.094 |
| 2012-05-10 | 0.240 | 11.457 |
| 2012-02-10 | 0.240 | 10.776 |
| 2011-10-21 | 0.120 | 6.031 |
| 2011-08-08 | 0.240 | 11.966 |
| 2011-05-30 | 0.240 | 11.198 |
| 2011-01-25 | 0.240 | 11.442 |
| 2010-11-09 | 0.240 | 11.654 |
| 2010-07-19 | 0.240 | 12.147 |
| 2010-04-29 | 0.240 | 10.110 |
| 2010-01-26 | 0.240 | 13.178 |
| 2009-10-23 | 0.240 | 12.591 |
| 2009-05-01 | 0.240 | 14.192 |
| 2009-04-13 | 0.240 | 15.484 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Income/ dividend checks
We assess Vitreous Glass's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Vitreous Glass afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Vitreous Glass has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
VCI Management
CEO
| COMPENSATION | CA$916,232 |
CEO Bio
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. Cashion served as the Chief Financial Officer of Vitreous Glass Inc. from October 01, 2011 to July 31, 2012. Mr. Cashion served as a Principal of Cashion Associates, Consultants from 1981 to June 1993. He has been a Chartered Accountant for 32 years and was a Partner of Collins Barrow, Chartered Accountants from 1979 to 1981. Mr. Cashion served in accounting, audit and tax. In addition, he was a public member of the Alberta Securities Commission from 1983 to 1990, has regularly attended continuing education on public disclosure. He has been a Director of Vitreous Glass Inc. since October 29, 1992. He served as a Director of two other public companies. He was Member of Alberta Securities Commission from 1983 to 1990.
CEO Compensation
- Pat's compensation has been consistent with company performance over the past year.
- Pat's remuneration is higher than average for companies of similar size in Canada.
Management Team
Pat Cashion
President
CA$916K
Timothy Rendell
CFO & Director
CA$51K
6.6 yrs
Board of Directors Tenure
Average tenure of the Vitreous Glass board of directors in years:
- The tenure for the Vitreous Glass board of directors is about average.
Board of Directors
Pat Cashion
President
CA$916K
26.4 yrs
Timothy Rendell
CFO & Director
CA$51K
6 yrs
Peter Schenkelberg
Independent Director
CA$10K
15.1 yrs
Dave Birkby
Independent Director
CA$10K
6.9 yrs
Meredith Cashion
Director
CA$10K
2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Vitreous Glass's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Vitreous Glass 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.
VCI News
Simply Wall St News
Can Vitreous Glass Inc.'s (CVE:VCI) ROE Continue To Surpass The Industry Average?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.48 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleVitreous Glass Inc (CVE:VCI): Did It Outperform The Industry?
Improvement in profitability and outperformance against the industry can be important characteristics in a stock for some investors. … Below, I will assess Vitreous Glass Inc's (CVE:VCI) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … Did VCI's recent earnings growth beat the long-term trend and the industry.
Simply Wall St - – Full articleShould You Be Tempted To Buy Vitreous Glass Inc (CVE:VCI) At Its Current PE Ratio?
While VCI might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio … What you need to know about the P/E ratio
Simply Wall St - – Full articleCan Vitreous Glass Inc (CVE:VCI) Continue To Outperform Its Industry?
and want a simplistic look at the return on Vitreous Glass Inc (CVE:VCI) stock. … Vitreous Glass Inc (CVE:VCI) outperformed the construction materials industry on the basis of its ROE – producing a higher 48.15% relative to the peer average of 9.66% over the past 12 months. … However, ROE only measures returns against equity, not debt
Simply Wall St - – Full articleWhy Vitreous Glass Inc (CVE:VCI) Is An Attractive Investment
Vitreous Glass Inc (CVE:VCI) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … is a company with great financial health as well as a.
Simply Wall St - – Full articleWhat Do You Get For Owning Vitreous Glass Inc (CVE:VCI)?
Thus, to understand how your money can grow by investing in Vitreous Glass, 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). … See our latest analysis for Vitreous Glass Vitreous Glass's Return On Capital Employed As an investor you have many alternative companies to choose from, which means there is an opportunity cost in any investment you make in the form of a foregone investment in another company. … With this, the current earnings of CA$2.87M improved from CA$2.77M and capital employed fell because of a fall in total assets and a larger reliance on current liabilities (increased borrowing to fund operations) , which is an indication that Vitreous Glass has increased the ROCE for investors by producing more earnings and using less capital.
Simply Wall St - – Full articleIs Vitreous Glass Inc's (CVE:VCI) CEO Incentives Align With Yours?
This is because, if incentives are aligned, more value is created for shareholders which directly impacts your returns as an investor. … See our latest analysis for Vitreous Glass Did Cashion create value? … VCI can create value to shareholders by increasing its profitability, which in turn is reflected into the share price and the investor's ability to sell their shares at higher capital gains.
Simply Wall St - – Full articleShould You Be Concerned About Vitreous Glass Inc's (CVE:VCI) Shareholders?
Today, I will be analyzing Vitreous Glass Inc’s (TSXV:VCI) recent ownership structure, an important but not-so-popular subject among individual investors. … Ownership structure of a company has been found to affect share performance over time. … View our latest analysis for Vitreous Glass TSXV:VCI Ownership_summary Apr 6th 18 Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital.
Simply Wall St - – Full articleVitreous Glass Inc (CVE:VCI) Delivered A Better ROE Than The Industry, Here’s Why
View our latest analysis for Vitreous Glass What you must know about ROE Return on Equity (ROE) is a measure of Vitreous Glass’s profit relative to its shareholders’ equity. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity TSXV:VCI Last Perf Mar 21st 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management. … Vitreous Glass exhibits a strong ROE against its peers, as well as sufficient returns to cover its cost of equity.
Simply Wall St - – Full articleShould You Be Tempted To Buy Vitreous Glass Inc (CVE:VCI) At Its Current PE Ratio?
It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for VCI Price per share = CA$4.14 Earnings per share = CA$0.332 ∴ Price-Earnings Ratio = CA$4.14 ÷ CA$0.332 = 12.5x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … VCI’s P/E of 12.5x is lower than its industry peers (20.3x), which implies that each dollar of VCI’s earnings is being undervalued by investors.
Simply Wall St - – Full articleVCI Company Info
Description
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 as a raw material in their production facilities. The company is headquartered in Airdrie, Canada.
Details
| Name: | Vitreous Glass Inc. |
| VCI | |
| Exchange: | TSXV |
| Founded: | |
| CA$23,249,571 | |
| 6,283,668 | |
| Website: | http://www.vitreous.cc |
| Address: |
Vitreous Glass Inc. 212 East Lake Boulevard NE, Airdrie, Alberta, T4A 2G2, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSXV | VCI | Common Shares | TSX Venture Exchange | CA | CAD | 09. Nov 1992 | |
| OTCPK | VCIG.F | Common Shares | Pink Sheets LLC | US | USD | 09. Nov 1992 |
Number of employees
Current staff
Industry
| Construction Materials | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/19 23:45 |
| End of day share price update: | 2019/03/19 00:00 |
| Last earnings filing: | 2019/02/27 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/09/30 |
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.
