Glacier Media (TSX:GVC) - Share price, News & Analysis

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

GVC (CA$0.39) is trading below our estimate of [[fair value]] (CA$0.49)

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

GVC Stock Overview

Glacier Media Inc. operates as an information and marketing solutions company in Canada and the United States.

Rewards

Trading at 19.8% below our estimate of its fair value

Risk Analysis

Earnings have declined by 12.7% per year over past 5 years

Does not have a meaningful market cap (CA$52M)

Glacier Media Competitors

Postmedia Network Canada

TSX:PNC.B

CA$148.9m

FP Newspapers

TSXV:FP

CA$8.6m

Lingo Media

TSXV:LM

CA$2.5m

ZoomerMedia

TSXV:ZUM

CA$43.0m

Price History & Performance

Summary of all time highs, changes and price drops for Glacier Media
Historical stock prices
Current Share Price	CA$0.39
52 Week High	CA$0.50
52 Week Low	CA$0.34
Beta	0.64
1 Month Change	-3.70%
3 Month Change	-1.27%
1 Year Change	-15.22%
3 Year Change	-47.30%
5 Year Change	-36.07%
Change since IPO	-90.71%

Recent News & Updates

May 26

A Look At The Intrinsic Value Of Glacier Media Inc. (TSE:GVC)

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Glacier Media Inc...

Mar 18

Is Glacier Media (TSE:GVC) A Risky Investment?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

	GVC	CA Media	CA Market
7D	2.6%	-0.7%	0.1%
1Y	-15.2%	-5.7%	-2.6%

Return vs Industry: GVC underperformed the Canadian Media industry which returned -5.1% over the past year.

Return vs Market: GVC underperformed the Canadian Market which returned -4% over the past year.

Price Volatility

Is GVC's price volatile compared to industry and market?
GVC volatility
GVC Average Weekly Movement	6.2%
Media Industry Average Movement	6.4%
Market Average Movement	10.0%
10% most volatile stocks in CA Market	17.3%
10% least volatile stocks in CA Market	4.4%

Stable Share Price: GVC is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: GVC's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1988	1,530	Jonathon James Kennedy	https://www.glaciermedia.ca

Glacier Media Inc. operates as an information and marketing solutions company in Canada and the United States. The company operates through three segments: Environmental and Property Information; Commodity Information; and Community Media. It offers environmental risk data and related products to environmental consultants, CRE brokers, financial institutions, and insurance companies; produces digital audit guides and compliance tools for use in environmental health and safety audits; and operates REW.ca, a residential real estate listings and property information marketplace, which provides consumers with key real estate information and insights to make better informed decisions about their home.

Glacier Media Fundamentals Summary

How do Glacier Media's earnings and revenue compare to its market cap?
GVC fundamental statistics
Market Cap	CA$51.74m
Earnings (TTM)	-CA$7.28m
Revenue (TTM)	CA$167.30m

0.3x

P/S Ratio

-7.1x

P/E Ratio

Is GVC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GVC income statement (TTM)
Revenue	CA$167.30m
Cost of Revenue	CA$114.19m
Gross Profit	CA$53.11m
Other Expenses	CA$60.39m
Earnings	-CA$7.28m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.055
Gross Margin	31.75%
Net Profit Margin	-4.35%
Debt/Equity Ratio	4.1%

How did GVC perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales 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 GVC?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for GVC. This is calculated by dividing GVC's market cap by their current preferred multiple.
What is GVC's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	CA$51.74m

GVC 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/Revenue	0.4x
Enterprise Value/EBITDA	15.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does GVC's PS Ratio compare to its peers?

GVC PS Ratio vs Peers

The above table shows the PS ratio for GVC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	1.7x
PNC.B Postmedia Network Canada	0.3x	n/a	CA$148.9m
FP FP Newspapers	4.7x	n/a	CA$8.6m
LM Lingo Media	0.9x	n/a	CA$2.5m
ZUM ZoomerMedia	0.9x	n/a	CA$43.0m
GVC Glacier Media	0.3x	n/a	CA$51.7m

Forward PS

Price-To-Sales vs Peers: GVC is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (1.7x).

Price to Earnings Ratio vs Industry

How does GVC's PE Ratio compare vs other companies in the CA Media Industry?

Price-To-Sales vs Industry: GVC is good value based on its Price-To-Sales Ratio (0.3x) compared to the Canadian Media industry average (1.1x)

Price to Sales Ratio vs Fair Ratio

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

GVC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.3x
Fair PS Ratio	n/a

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

Share Price vs Fair Value

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

Below Fair Value: GVC (CA$0.39) is trading below our estimate of fair value (CA$0.49)

Significantly Below Fair Value: GVC is trading below fair value, but not by a significant amount.

Price to Earnings Growth Ratio

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

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Future Growth

How is Glacier Media 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

4.4%

Forecasted Media 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 Glacier Media 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 whether Glacier Media is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
Glacier Media competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Glacier Media performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

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

-12.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GVC is currently unprofitable.

Growing Profit Margin: GVC is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: GVC is unprofitable, and losses have increased over the past 5 years at a rate of 12.7% per year.

Accelerating Growth: Unable to compare GVC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GVC is unprofitable, making it difficult to compare its past year earnings growth to the Media industry (2.4%).

Return on Equity

High ROE: GVC has a negative Return on Equity (-1.16%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Glacier Media's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: GVC's short term assets (CA$63.3M) exceed its short term liabilities (CA$48.9M).

Long Term Liabilities: GVC's short term assets (CA$63.3M) exceed its long term liabilities (CA$27.8M).

Debt to Equity History and Analysis

Debt Level: GVC has more cash than its total debt.

Reducing Debt: GVC's debt to equity ratio has reduced from 32% to 4.1% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable GVC has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: GVC is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 11.5% per year.

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Dividend

What is Glacier Media current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

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

Dividend Yield vs Market

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

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

Stability and Growth of Payments

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

Growing Dividend: Insufficient data to determine if GVC's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: GVC is not paying a notable dividend for the Canadian market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as GVC has not reported any payouts.

Discover strong dividend paying companies

Management

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

5.8yrs

Average management tenure

CEO

Jonathon James Kennedy

24.42yrs

Tenure

CA$706,920

Compensation

Mr. Jonathon James Leslie Kennedy has been the Chief Executive Officer and President of GVIC Communications Corp. since March 23, 2006. Mr. Kennedy has been the Chief Executive Officer and President of Gla...

CEO Compensation Analysis

Compensation vs Market: Jonathon James's total compensation ($USD549.07K) is above average for companies of similar size in the Canadian market ($USD175.18K).

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

Leadership Team

Experienced Management: GVC's management team is seasoned and experienced (5.8 years average tenure).

Board Members

Experienced Board: GVC's board of directors are seasoned and experienced ( 22.2 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: GVC 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	2022/06/28 00:00
End of Day Share Price	2022/06/28 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31