Vitreous Glass (TSXV:VCI) - Share price, News & Analysis

VCI fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	3/6
Financial Health	6/6
Dividends	3/6

VCI Stock Overview

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

Rewards

Trading at 28.6% below our estimate of its fair value

Earnings grew by 5.9% over the past year

Risk Analysis

High level of non-cash earnings

Dividend of 6.87% is not well covered by earnings

Does not have a meaningful market cap (CA$31M)

Vitreous Glass Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Vitreous Glass
Historical stock prices
Current Share Price	CA$4.95
52 Week High	CA$6.50
52 Week Low	CA$4.40
Beta	0.74
1 Month Change	-2.17%
3 Month Change	-6.60%
1 Year Change	2.06%
3 Year Change	28.57%
5 Year Change	28.57%
Change since IPO	106.25%

Recent News & Updates

Mar 01

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...

Jan 10

Does Vitreous Glass (CVE:VCI) Deserve A Spot On Your Watchlist?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

	VCI	CA Basic Materials	CA Market
7D	1.0%	-1.5%	0.8%
1Y	2.1%	-23.4%	4.9%

Return vs Industry: VCI exceeded the Canadian Basic Materials industry which returned -23.4% over the past year.

Return vs Market: VCI underperformed the Canadian Market which returned 4.8% over the past year.

Price Volatility

Is VCI's price volatile compared to industry and market?
VCI volatility
VCI Average Weekly Movement	4.0%
Basic Materials Industry Average Movement	7.0%
Market Average Movement	9.9%
10% most volatile stocks in CA Market	16.9%
10% least volatile stocks in CA Market	4.3%

Stable Share Price: VCI is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: VCI's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
n/a	n/a	Pat Cashion	https://www.vitreousglass.ca

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 Cap	CA$31.10m
Earnings (TTM)	CA$2.86m
Revenue (TTM)	CA$10.92m

10.9x

P/E Ratio

2.8x

P/S Ratio

Is VCI overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
VCI income statement (TTM)
Revenue	CA$10.92m
Cost of Revenue	CA$5.33m
Gross Profit	CA$5.59m
Other Expenses	CA$2.73m
Earnings	CA$2.86m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.46
Gross Margin	51.19%
Net Profit Margin	26.22%
Debt/Equity Ratio	0%

How did VCI perform over the long term?

See historical performance and comparison

Dividends

6.9%

Current Dividend Yield

n/a

Payout Ratio

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

28.6%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: VCI (CA$4.95) is trading below our estimate of fair value (CA$6.94)

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 (10.9x) compared to the North American Basic Materials industry average (15.1x).

PE vs Market: VCI is good value based on its PE Ratio (10.9x) compared to the Canadian market (11.5x).

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 (7.4x) compared to the CA Basic Materials industry average (1.5x).

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

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

18.8%

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.

Past Performance

How has Vitreous Glass performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

10.9%

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 (26.2%) are lower than last year (26.4%).

Past Earnings Growth Analysis

Earnings Trend: VCI's earnings have grown by 10.9% per year over the past 5 years.

Accelerating Growth: VCI's earnings growth over the past year (5.9%) is below its 5-year average (10.9% per year).

Earnings vs Industry: VCI earnings growth over the past year (5.9%) exceeded the Basic Materials industry -3.1%.

Return on Equity

High ROE: VCI's Return on Equity (68.5%) is considered outstanding.

Financial Health

How is Vitreous Glass's financial position?

Financial Health Score

6/6

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$2.7M) exceed its short term liabilities (CA$519.2K).

Long Term Liabilities: VCI's short term assets (CA$2.7M) exceed its long term liabilities (CA$244.9K).

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

Dividend

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

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

6.87%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: VCI's dividend (6.87%) is higher than the bottom 25% of dividend payers in the Canadian market (1.91%).

High Dividend: VCI's dividend (6.87%) is in the top 25% of dividend payers in the Canadian market (4.91%)

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 (94.8%), VCI's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies

Management

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

9.8yrs

Average management tenure

CEO

Pat Cashion

29.25yrs

Tenure

CA$1,239,107

Compensation

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 ($USD965.15K) is above average for companies of similar size in the Canadian market ($USD168.24K).

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

Leadership Team

Experienced Management: VCI's management team is seasoned and experienced (9.8 years average tenure).

Board Members

Experienced Board: VCI's board of directors are considered experienced (9.2 years average tenure).

Ownership

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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/21 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2021/12/31
Annual Earnings	2021/09/30