AIM:VCP

Stock Analysis Report

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Executive Summary

Victoria PLC designs, manufactures, and distributes flooring products primarily in the United Kingdom and Australia.


Snowflake Analysis

Overvalued with worrying balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: VCP's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.5%

VCP

4.6%

GB Consumer Durables

2.8%

GB Market


1 Year Return

-57.5%

VCP

-3.4%

GB Consumer Durables

-11.0%

GB Market

Return vs Industry: VCP underperformed the UK Consumer Durables industry which returned -6% over the past year.

Return vs Market: VCP underperformed the UK Market which returned -12.8% over the past year.


Shareholder returns

VCPIndustryMarket
7 Day1.5%4.6%2.8%
30 Day1.7%0.2%8.4%
90 Day-42.0%-26.9%-7.9%
1 Year-57.5%-57.5%1.0%-3.4%-6.7%-11.0%
3 Year-62.8%-62.8%5.6%-10.0%-3.7%-15.4%
5 Year4.6%4.6%31.0%1.2%15.4%-10.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.8x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: VCP (£2.06) is trading above our estimate of fair value (£2.05)

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


Price To Earnings Ratio

PE vs Industry: VCP is unprofitable, so we can't compare its PE Ratio to the Consumer Durables industry average.

PE vs Market: VCP is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: VCP is good value based on its PB Ratio (0.8x) compared to the GB Consumer Durables industry average (1x).


Next Steps

Future Growth

How is Victoria forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-0.5%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if VCP's forecast earnings growth is above the savings rate (1.2%).

Earnings vs Market: Insufficient data to determine if VCP's earnings are forecast to grow faster than the UK market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: VCP's revenue is expected to decline over the next 3 years (-0.5% per year).

High Growth Revenue: VCP's revenue is forecast to decline over the next 3 years (-0.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if VCP's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Victoria performed over the past 5 years?

-6.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VCP is currently unprofitable.

Growing Profit Margin: VCP is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: VCP is unprofitable, and losses have increased over the past 5 years at a rate of -6.2% per year.

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

Earnings vs Industry: VCP is unprofitable, making it difficult to compare its past year earnings growth to the Consumer Durables industry (-6.6%).


Return on Equity

High ROE: VCP has a negative Return on Equity (-1.45%), as it is currently unprofitable.


Next Steps

Financial Health

How is Victoria's financial position?


Financial Position Analysis

Short Term Liabilities: VCP's short term assets (£370.9M) exceed its short term liabilities (£192.6M).

Long Term Liabilities: VCP's short term assets (£370.9M) do not cover its long term liabilities (£593.0M).


Debt to Equity History and Analysis

Debt Level: VCP's debt to equity ratio (138.4%) is considered high.

Reducing Debt: VCP's debt to equity ratio has increased from 125.1% to 138.4% over the past 5 years.

Debt Coverage: VCP's debt is not well covered by operating cash flow (15.1%).

Interest Coverage: VCP is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate VCP'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 VCP's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: VCP is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VCP's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

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

3.3yrs

Average management tenure


CEO

Philippe Hamers (55yo)

3.25yrs

Tenure

UK£848,000

Compensation

Mr. Philippe Hamers has been Chief Executive Officer and Executive Director of Victoria plc since March 20, 2017. Mr. Hamers served as General Manager of Residential and Commercial Broadloom Division at Ba ...


CEO Compensation Analysis

Compensation vs Market: Philippe's total compensation ($USD1.06M) is about average for companies of similar size in the UK market ($USD927.10K).

Compensation vs Earnings: Philippe's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Geoffrey Wilding
Executive Chairman7.67yrsUK£523.00k17.89% £46.2m
Philippe Hamers
CEO & Executive Director3.25yrsUK£848.00k0.15% £381.1k
Michael Scott
Group Finance Director & Executive Director4.42yrsUK£494.00k0.33% £858.4k
John Shirt
Managing Director of Westex Carpets1.42yrsno datano data
Jim Taylor
Managing Director of Abingdon Flooringno datano datano data
John Cooper
Managing Director of Interfloorno datano datano data
Phil Smith
Managing Director of Victoria Carpets - Australia7.17yrsno datano data
Jan Debrouwere
MD of Victoria Carpets - UK & Director of Hard Flooring1.42yrsno datano data
Chris Dragan
President of Colin Campbell & Sons Limited10.42yrsno datano data
Stephen Sunderland
Managing Director of Quest Flooring2.42yrsno datano data

3.3yrs

Average Tenure

Experienced Management: VCP's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Geoffrey Wilding
Executive Chairman7.67yrsUK£523.00k17.89% £46.2m
Philippe Hamers
CEO & Executive Director3.25yrsUK£848.00k0.15% £381.1k
Michael Scott
Group Finance Director & Executive Director4.42yrsUK£494.00k0.33% £858.4k
Michael Oakley
Non-Executive Chairman of The Victoria Carpet Company Pty Limited 13.83yrsUK£76.00kno data
Zachary Sternberg
Non-Executive Director1.08yrsno datano data
Andrew Harrison
Senior Independent Non-Executive Directorno dataUK£35.00k0.17% £427.9k
Gavin Petken
Non-Executive Director5.75yrsUK£35.00kno data

5.1yrs

Average Tenure

48yo

Average Age

Experienced Board: VCP's board of directors are considered experienced (5.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: VCP 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

Victoria plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Victoria plc
  • Ticker: VCP
  • Exchange: AIM
  • Founded: 1895
  • Industry: Home Furnishings
  • Sector: Consumer Durables
  • Market Cap: UK£258.320m
  • Shares outstanding: 125.40m
  • Website: https://www.victoriaplc.com

Number of Employees


Location

  • Victoria plc
  • Worcester Road
  • Kidderminster
  • Worcestershire
  • DY10 1JR
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VCPAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPJan 1992

Biography

Victoria PLC designs, manufactures, and distributes flooring products primarily in the United Kingdom and Australia. It also provides wool and synthetic broadloom carpets, flooring underlays, luxury vinyl tiles (LVT), hardwood flooring products, artificial grass, carpet tiles, and flooring accessories, as well as markets and distributes LVT and hardwood flooring products. In addition, the company offers logistics and unit trust services. It serves residential and commercial sectors. Victoria PLC was founded in 1895 and is headquartered in Kidderminster, the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/01 21:11
End of Day Share Price2020/06/01 00:00
Earnings2019/09/28
Annual Earnings2019/03/30


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.