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VIC

Victorian Plumbing Group AIM:VIC Stock Report

Last Price

UK£0.38

Market Cap

UK£123.5m

7D

-2.7%

1Y

-85.3%

Updated

25 Sep, 2022

Data

Company Financials +
VIC fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance1/6
Financial Health6/6
Dividends0/6

VIC Stock Overview

Victorian Plumbing Group plc operates as an online retailer of bathroom products and accessories.

Victorian Plumbing Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Victorian Plumbing Group
Historical stock prices
Current Share PriceUK£0.38
52 Week HighUK£2.65
52 Week LowUK£0.38
Beta0
1 Month Change-15.56%
3 Month Change-33.45%
1 Year Change-85.27%
3 Year Changen/a
5 Year Changen/a
Change since IPO-88.49%

Recent News & Updates

May 24
Victorian Plumbing Group's (LON:VIC) Conservative Accounting Might Explain Soft Earnings

Victorian Plumbing Group's (LON:VIC) Conservative Accounting Might Explain Soft Earnings

The market shrugged off the recent earnings report from Victorian Plumbing Group plc ( LON:VIC ), despite the profit...

May 15
Are Investors Undervaluing Victorian Plumbing Group plc (LON:VIC) By 36%?

Are Investors Undervaluing Victorian Plumbing Group plc (LON:VIC) By 36%?

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Victorian Plumbing...

Shareholder Returns

VICGB Online RetailGB Market
7D-2.7%-8.4%-3.1%
1Y-85.3%-80.3%-14.4%

Return vs Industry: VIC underperformed the UK Online Retail industry which returned -80.3% over the past year.

Return vs Market: VIC underperformed the UK Market which returned -14.4% over the past year.

Price Volatility

Is VIC's price volatile compared to industry and market?
VIC volatility
VIC Average Weekly Movement5.8%
Online Retail Industry Average Movement8.6%
Market Average Movement5.2%
10% most volatile stocks in GB Market10.8%
10% least volatile stocks in GB Market2.6%

Stable Share Price: VIC is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 6% a week.

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

About the Company

FoundedEmployeesCEOWebsite
2021568Mark Radcliffehttps://www.victorianplumbingplc.com

Victorian Plumbing Group plc operates as an online retailer of bathroom products and accessories. It offers a range of products to B2C and trade customers with approximately 125 brands, as well as designs and develops in-house products. The company’s bathroom product lines include tiles, flooring, and lighting.

Victorian Plumbing Group Fundamentals Summary

How do Victorian Plumbing Group's earnings and revenue compare to its market cap?
VIC fundamental statistics
Market CapUK£123.52m
Earnings (TTM)UK£4.70m
Revenue (TTM)UK£262.00m

26.3x

P/E Ratio

0.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VIC income statement (TTM)
RevenueUK£262.00m
Cost of RevenueUK£142.00m
Gross ProfitUK£120.00m
Other ExpensesUK£115.30m
EarningsUK£4.70m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.014
Gross Margin45.80%
Net Profit Margin1.79%
Debt/Equity Ratio0%

How did VIC perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is VIC 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

VIC 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/Revenue0.4x
Enterprise Value/EBITDA5.3x
PEG Ration/a

Price to Earnings Ratio vs Peers

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

VIC PE Ratio vs Peers
The above table shows the PE ratio for VIC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13.8x
BWNG N Brown Group
6.6xn/aUK£107.5m
MRK Marks Electrical Group
18.9x19.4%UK£62.2m
MMAG musicMagpie
11.4x12.1%UK£27.1m
MOON Moonpig Group
18.4x24.8%UK£577.8m
VIC Victorian Plumbing Group
26.3xn/aUK£123.5m

Price-To-Earnings vs Peers: VIC is expensive based on its Price-To-Earnings Ratio (26.3x) compared to the peer average (13.8x).


Price to Earnings Ratio vs Industry

How does VIC's PE Ratio compare vs other companies in the European Online Retail Industry?

Price-To-Earnings vs Industry: VIC is expensive based on its Price-To-Earnings Ratio (26.3x) compared to the European Online Retail industry average (16.8x)


Price to Earnings Ratio vs Fair Ratio

What is VIC'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.

VIC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio26.3x
Fair PE Ration/a

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


Share Price vs Fair Value

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

Below Fair Value: VIC (£0.38) is trading below our estimate of fair value (£1.13)

Significantly Below Fair Value: VIC is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

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

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


7.4%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if VIC's forecast earnings growth is above the savings rate (0.9%).

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

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

Revenue vs Market: VIC's revenue (7.4% per year) is forecast to grow faster than the UK market (4.5% per year).

High Growth Revenue: VIC's revenue (7.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


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Past Performance

How has Victorian Plumbing Group performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


16.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VIC has a large one-off loss of £8.8M impacting its March 31 2022 financial results.

Growing Profit Margin: VIC's current net profit margins (1.8%) are lower than last year (9.9%).


Past Earnings Growth Analysis

Earnings Trend: VIC's earnings have grown by 16.5% per year over the past 5 years.

Accelerating Growth: VIC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: VIC had negative earnings growth (-81.2%) over the past year, making it difficult to compare to the Online Retail industry average (-29.7%).


Return on Equity

High ROE: VIC's Return on Equity (13.4%) is considered low.


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Financial Health

How is Victorian Plumbing Group'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: VIC's short term assets (£73.9M) exceed its short term liabilities (£43.9M).

Long Term Liabilities: VIC's short term assets (£73.9M) exceed its long term liabilities (£4.6M).


Debt to Equity History and Analysis

Debt Level: VIC is debt free.

Reducing Debt: VIC has not had any debt for past 5 years.

Debt Coverage: VIC has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: VIC has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Victorian Plumbing Group 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

  • Cash Flow Coverage


2.33%

Forecast Dividend Yield

Dividend Yield vs Market

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

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

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


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: Unable to calculate sustainability of dividends as VIC has not reported any payouts.


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Management

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

1.3yrs

Average board tenure


CEO

Mark Radcliffe (43 yo)

no data

Tenure

UK£227,200

Compensation

Mr. Mark Radcliffe serves as Chief Executive Officer and Director of Victorian Plumbing Group plc. Mr. Radcliffe founded Victorian Plumbing in 2000 and has led the business ever since. Prior to that time,...


CEO Compensation Analysis

Compensation vs Market: Mark's total compensation ($USD248.39K) is about average for companies of similar size in the UK market ($USD327.98K).

Compensation vs Earnings: Insufficient data to compare Mark's compensation with company performance.


Board Members

Experienced Board: VIC's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: VIC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

AIM:VIC Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
13 Jul 22SellUK£72,900Philip BowcockIndividual135,000UK£0.54
13 Jul 22SellUK£40,500Paul MeehanIndividual75,000UK£0.54
04 Apr 22BuyUK£354,200Mark RadcliffeIndividual700,000UK£0.51
10 Dec 21BuyUK£2,899,499Mark RadcliffeIndividual3,000,000UK£0.97
09 Dec 21BuyUK£48,760Philip BowcockIndividual53,000UK£0.92
09 Dec 21BuyUK£24,999Damian SandersIndividual25,933UK£0.96
09 Dec 21BuyUK£497,511Neil RadcliffeIndividual529,267UK£0.94

Ownership Breakdown

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


Top Shareholders

Top 25 shareholders own 95.63% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
50.08%
Mark Radcliffe
162,787,673£61.9m0.43%no data
9.29%
Neil Radcliffe
30,205,232£11.5m0%no data
5.29%
Kayne Anderson Rudnick Investment Management, LLC
17,182,085£6.5m5.03%0.02%
3.66%
Paradice Investment Management Pty Ltd.
11,895,861£4.5m-0.64%0.18%
3.29%
Martin Stewart
10,708,031£4.1m0%no data
2.81%
T. Rowe Price Group, Inc.
9,121,647£3.5m-0.96%no data
2.78%
M&G Investment Management Limited
9,046,318£3.4m3.08%0.01%
2.51%
Numis Asset Management Limited
8,161,955£3.1m0%0.62%
2.18%
Amati Global Investors Ltd.
7,080,000£2.7m0%0.3%
1.54%
L.V.O. Global Asset Management Sa
5,000,000£1.9m0%no data
1.42%
Tenzing Global Management LLC
4,628,477£1.8m114.34%0.91%
1.38%
The Independent Investment Trust PLC
4,500,000£1.7m0%0.89%
1.25%
Oldfield Partners LLP
4,067,586£1.5m0%0.1%
1.13%
Charles Stanley & Co. Ltd, Asset Management Arm
3,674,374£1.4m1.67%0.01%
1.09%
Legal & General Investment Management Limited
3,550,871£1.3m0%no data
1.02%
Grandeur Peak Global Advisors, LLC
3,307,695£1.3m-30.87%0.03%
1.02%
RobecoSAM AG
3,300,000£1.3m1.98%0.01%
0.67%
N.F.U. Mutual Unit Managers Limited
2,173,428£825.9k-7.3%0.02%
0.62%
Ninety One UK Limited
2,004,661£761.8k-3.16%no data
0.51%
Paul Meehan
1,642,520£624.2k-4.37%no data
0.49%
Columbia Management Investment Advisers, LLC
1,584,412£602.1k0%no data
0.48%
Canaccord Genuity Wealth (International) Limited
1,562,000£593.6k982.14%0.01%
0.44%
Philip Bowcock
1,444,718£549.0k-8.55%no data
0.38%
BlackRock, Inc.
1,224,864£465.4k-8.01%no data
0.31%
A J Bell Holdings Limited, Asset Management Arm
996,970£378.8k61.04%0.01%

Company Information

Victorian Plumbing Group plc's employee growth, exchange listings and data sources


Key Information

  • Name: Victorian Plumbing Group plc
  • Ticker: VIC
  • Exchange: AIM
  • Founded: 2021
  • Industry: Internet and Direct Marketing Retail
  • Sector: Retail
  • Implied Market Cap: UK£123.524m
  • Shares outstanding: 325.06m
  • Website: https://www.victorianplumbingplc.com

Number of Employees


Location

  • Victorian Plumbing Group plc
  • 22 Grimrod Place
  • Skelmersdale
  • Lancashire
  • WN8 9UU
  • United Kingdom


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VICAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPJun 2021
637DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/25 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/03/31
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.