| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 5/6 |
| Financial Health | 1/6 |
| Dividends | 4/6 |
VCT Stock Overview
Vector Limited, together with its subsidiaries, engages in electricity and gas distribution, natural gas and LPG sale, gas processing, metering, and telecommunication and energy businesses in New Zealand.
Vector Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | NZ$3.88 |
| 52 Week High | NZ$4.37 |
| 52 Week Low | NZ$3.81 |
| Beta | 0.43 |
| 1 Month Change | -3.00% |
| 3 Month Change | -4.43% |
| 1 Year Change | -8.06% |
| 3 Year Change | 14.45% |
| 5 Year Change | 21.25% |
| Change since IPO | 28.48% |
Recent News & Updates
Returns At Vector (NZSE:VCT) Appear To Be Weighed Down
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These 4 Measures Indicate That Vector (NZSE:VCT) Is Using Debt Extensively
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Vector Limited (NZSE:VCT) Shares Could Be 37% Below Their Intrinsic Value Estimate
How far off is Vector Limited ( NZSE:VCT ) from its intrinsic value? Using the most recent financial data, we'll take a...
Shareholder Returns
| VCT | NZ Integrated Utilities | NZ Market | |
|---|---|---|---|
| 7D | -3.7% | -0.3% | -3.1% |
| 1Y | -8.1% | 11.1% | -11.4% |
Return vs Industry: VCT underperformed the NZ Integrated Utilities industry which returned 11.1% over the past year.
Return vs Market: VCT exceeded the NZ Market which returned -11.4% over the past year.
Price Volatility
| VCT volatility | |
|---|---|
| VCT Average Weekly Movement | 2.4% |
| Integrated Utilities Industry Average Movement | 2.8% |
| Market Average Movement | 3.8% |
| 10% most volatile stocks in NZ Market | 6.5% |
| 10% least volatile stocks in NZ Market | 2.4% |
Stable Share Price: VCT is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: VCT's weekly volatility (2%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| n/a | 600 | Simon MacKenzie | https://www.vector.co.nz |
Vector Limited, together with its subsidiaries, engages in electricity and gas distribution, natural gas and LPG sale, gas processing, metering, and telecommunication and energy businesses in New Zealand. It operates through three segments: Regulated Networks, Gas Trading, and Metering. The company distributes electricity to residential and commercial customers in Auckland, from Wellsford to Papakura through its network consisting of approximately 18,000 kilometers of overhead lines and underground cables; natural gas to customers; bulk LPG to commercial customers; and bottled LPG to commercial and residential customers.
Vector Fundamentals Summary
| VCT fundamental statistics | |
|---|---|
| Market Cap | NZ$3.88b |
| Earnings (TTM) | NZ$193.20m |
| Revenue (TTM) | NZ$1.28b |
20.1x
P/E Ratio3.0x
P/S RatioIs VCT overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| VCT income statement (TTM) | |
|---|---|
| Revenue | NZ$1.28b |
| Cost of Revenue | NZ$643.30m |
| Gross Profit | NZ$636.00m |
| Expenses | NZ$442.80m |
| Earnings | NZ$193.20m |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.19 |
| Gross Margin | 49.71% |
| Net Profit Margin | 15.10% |
| Debt/Equity Ratio | 131.5% |
How did VCT perform over the long term?
See historical performance and comparisonDividends
4.4%
Current Dividend Yield87%
Payout RatioValuation
Is Vector undervalued compared to its fair value and its price relative to the market?
38.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: VCT (NZ$3.88) is trading below our estimate of fair value (NZ$6.34)
Significantly Below Fair Value: VCT is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: VCT is poor value based on its PE Ratio (20.1x) compared to the Global Integrated Utilities industry average (19.7x).
PE vs Market: VCT is poor value based on its PE Ratio (20.1x) compared to the NZ market (17.6x).
Price to Earnings Growth Ratio
PEG Ratio: VCT is poor value based on its PEG Ratio (261.8x)
Price to Book Ratio
PB vs Industry: VCT's PB Ratio (1.7x) is in line with the XX Integrated Utilities industry average.
Future Growth
How is Vector forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
0.08%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: VCT's forecast earnings growth (0.08% per year) is below the savings rate (2.1%).
Earnings vs Market: VCT's earnings (0.08% per year) are forecast to grow slower than the NZ market (7.4% per year).
High Growth Earnings: VCT's earnings are forecast to grow, but not significantly.
Revenue vs Market: VCT's revenue (2.8% per year) is forecast to grow slower than the NZ market (4.8% per year).
High Growth Revenue: VCT's revenue (2.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: VCT's Return on Equity is forecast to be low in 3 years time (8.2%).
Past Performance
How has Vector performed over the past 5 years?
3.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VCT has high quality earnings.
Growing Profit Margin: VCT's current net profit margins (15.1%) are higher than last year (7.4%).
Past Earnings Growth Analysis
Earnings Trend: VCT's earnings have grown by 3.1% per year over the past 5 years.
Accelerating Growth: VCT's earnings growth over the past year (102.5%) exceeds its 5-year average (3.1% per year).
Earnings vs Industry: VCT earnings growth over the past year (102.5%) exceeded the Integrated Utilities industry 13.6%.
Return on Equity
High ROE: VCT's Return on Equity (8.3%) is considered low.
Financial Health
How is Vector's financial position?
Financial Position Analysis
Short Term Liabilities: VCT's short term assets (NZ$307.6M) do not cover its short term liabilities (NZ$551.4M).
Long Term Liabilities: VCT's short term assets (NZ$307.6M) do not cover its long term liabilities (NZ$3.6B).
Debt to Equity History and Analysis
Debt Level: VCT's net debt to equity ratio (130.7%) is considered high.
Reducing Debt: VCT's debt to equity ratio has increased from 94% to 131.5% over the past 5 years.
Debt Coverage: VCT's debt is not well covered by operating cash flow (16.3%).
Interest Coverage: VCT's interest payments on its debt are well covered by EBIT (3.2x coverage).
Balance Sheet
Dividend
What is Vector current dividend yield, its reliability and sustainability?
4.38%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: VCT's dividend (4.38%) is higher than the bottom 25% of dividend payers in the NZ market (2.76%).
High Dividend: VCT's dividend (4.38%) is low compared to the top 25% of dividend payers in the NZ market (4.97%).
Stability and Growth of Payments
Stable Dividend: VCT's dividends per share have been stable in the past 10 years.
Growing Dividend: VCT's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (86.7%), VCT's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: VCT's dividends in 3 years are not forecast to be well covered by earnings (102.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.0yrs
Average management tenure
CEO
Simon MacKenzie
13.92yrs
Tenure
Mr. Simon MacKenzie, Grad Dip BS (Dist), Dip Fin, NZCE, has been Group Chief Executive Officer of Vector Limited since February 2008 and served as Group General Manager of Strategy Regulation & Performance...
Leadership Team
Experienced Management: VCT's management team is considered experienced (2 years average tenure).
Board Members
Experienced Board: VCT's board of directors are not considered experienced ( 2.7 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: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Vector Limited's employee growth, exchange listings and data sources
Key Information
- Name: Vector Limited
- Ticker: VCT
- Exchange: NZSE
- Founded: NaN
- Industry: Multi-Utilities
- Sector: Utilities
- Implied Market Cap: NZ$3.880b
- Shares outstanding: 999.92m
- Website: https://www.vector.co.nz
Number of Employees
Location
- Vector Limited
- 101 Carlton Gore Road
- Newmarket
- Auckland
- 1023
- New Zealand
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/22 06:02 |
| End of Day Share Price | 2022/01/21 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2021/06/30 |
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.