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VMC

Victorias Milling Company PSE:VMC Stock Report

Last Price

₱2.50

Market Cap

₱6.9b

7D

-10.4%

1Y

2.0%

Updated

30 Jun, 2022

Data

Company Financials
VMC fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends3/6

VMC Stock Overview

Victorias Milling Company, Inc. operates as an integrated raw and refined sugar company in the Philippines and internationally.

Victorias Milling Company Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Victorias Milling Company
Historical stock prices
Current Share Price₱2.50
52 Week High₱3.10
52 Week Low₱2.25
Beta0.038
1 Month Change-11.35%
3 Month Change2.88%
1 Year Change2.04%
3 Year Change-3.85%
5 Year Change-37.50%
Change since IPO-88.10%

Recent News & Updates

Shareholder Returns

VMCPH FoodPH Market
7D-10.4%2.6%1.9%
1Y2.0%-28.5%-7.6%

Return vs Industry: VMC exceeded the PH Food industry which returned -28.5% over the past year.

Return vs Market: VMC exceeded the PH Market which returned -7.6% over the past year.

Price Volatility

Is VMC's price volatile compared to industry and market?
VMC volatility
VMC Average Weekly Movement10.0%
Food Industry Average Movement6.3%
Market Average Movement5.3%
10% most volatile stocks in PH Market10.1%
10% least volatile stocks in PH Market3.0%

Stable Share Price: VMC is more volatile than 75% of PH stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: VMC's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of PH stocks.

About the Company

FoundedEmployeesCEOWebsite
1919705Minnie Chuahttps://www.victoriasmilling.com

Victorias Milling Company, Inc. operates as an integrated raw and refined sugar company in the Philippines and internationally. The company operates through Sugar Milling, Distillery Operations, Power Generation, and Others segments. It produces and sells raw and refined sugar; molasses; and alcohol and ethanol.

Victorias Milling Company Fundamentals Summary

How do Victorias Milling Company's earnings and revenue compare to its market cap?
VMC fundamental statistics
Market Cap₱6.86b
Earnings (TTM)₱983.02m
Revenue (TTM)₱7.67b

7.0x

P/E Ratio

0.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VMC income statement (TTM)
Revenue₱7.67b
Cost of Revenue₱6.38b
Gross Profit₱1.29b
Other Expenses₱310.17m
Earnings₱983.02m

Last Reported Earnings

Feb 28, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.36
Gross Margin16.86%
Net Profit Margin12.81%
Debt/Equity Ratio0.0%

How did VMC perform over the long term?

See historical performance and comparison

Dividends

2.0%

Current Dividend Yield

14%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 VMC?

Other financial metrics that can be useful for relative valuation.

VMC 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/Revenue0.7x
Enterprise Value/EBITDA4.3x
PEG Ration/a

Price to Earnings Ratio vs Peers

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

VMC PE Ratio vs Peers
The above table shows the PE ratio for VMC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average27.7x
AXLM Axelum Resources
11.5xn/a₱8.7b
RFM RFM
10.2xn/a₱13.4b
LFM Liberty Flour Mills
44.6xn/a₱3.2b
CAT Central Azucarera de Tarlac
44.4xn/a₱2.4b
VMC Victorias Milling Company
7xn/a₱6.9b

Price-To-Earnings vs Peers: VMC is good value based on its Price-To-Earnings Ratio (7x) compared to the peer average (27.7x).


Price to Earnings Ratio vs Industry

How does VMC's PE Ratio compare vs other companies in the Asian Food Industry?

Price-To-Earnings vs Industry: VMC is good value based on its Price-To-Earnings Ratio (7x) compared to the PH Food industry average (15.4x)


Price to Earnings Ratio vs Fair Ratio

What is VMC'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.

VMC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7x
Fair PE Ration/a

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


Share Price vs Fair Value

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

Below Fair Value: VMC (₱2.5) is trading below our estimate of fair value (₱4.89)

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


Price to Earnings Growth Ratio

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


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Future Growth

How is Victorias Milling Company 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


23.0%

Forecasted Food, Beverage & Tobacco 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 Victorias Milling Company 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 Victorias Milling Company 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.

Past Performance

How has Victorias Milling Company performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


9.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VMC has high quality earnings.

Growing Profit Margin: VMC's current net profit margins (12.8%) are higher than last year (9.4%).


Past Earnings Growth Analysis

Earnings Trend: VMC's earnings have grown by 9.2% per year over the past 5 years.

Accelerating Growth: VMC's earnings growth over the past year (27.1%) exceeds its 5-year average (9.2% per year).

Earnings vs Industry: VMC earnings growth over the past year (27.1%) exceeded the Food industry 19.3%.


Return on Equity

High ROE: VMC's Return on Equity (10.8%) is considered low.


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Financial Health

How is Victorias Milling Company'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: VMC's short term assets (₱4.3B) exceed its short term liabilities (₱919.4M).

Long Term Liabilities: VMC's short term assets (₱4.3B) exceed its long term liabilities (₱842.8M).


Debt to Equity History and Analysis

Debt Level: VMC is debt free.

Reducing Debt: VMC has no debt compared to 5 years ago when its debt to equity ratio was 24.9%.

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

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


Balance Sheet


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Dividend

What is Victorias Milling Company current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


2.00%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: VMC's dividend (2%) is higher than the bottom 25% of dividend payers in the PH market (1.52%).

High Dividend: VMC's dividend (2%) is low compared to the top 25% of dividend payers in the PH market (4.8%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether VMC's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if VMC's dividend payments are increasing as they only just started paying a dividend.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (13.9%), VMC's dividend payments are thoroughly covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (20.9%), VMC's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

3.8yrs

Average management tenure


CEO

Minnie Chua (48 yo)

3.42yrs

Tenure

Ms. Minnie O. Chua serves as Director at Victorias Milling Company, Inc. since 2019. She served as Chief Operating Officer of Victorias Milling Company, Inc. since August 01, 2017 until November 8, 2021. S...


Leadership Team

Experienced Management: VMC's management team is considered experienced (3.8 years average tenure).


Board Members

Experienced Board: VMC's board of directors are considered experienced (5.7 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.


Ownership Breakdown

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


Top Shareholders

Company Information

Victorias Milling Company, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Victorias Milling Company, Inc.
  • Ticker: VMC
  • Exchange: PSE
  • Founded: 1919
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: ₱6.855b
  • Shares outstanding: 2.74b
  • Website: https://www.victoriasmilling.com

Number of Employees


Location

  • Victorias Milling Company, Inc.
  • VMC Compound
  • J.J. Ossorio Street
  • Victorias
  • 6119
  • Philippines

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/29 00:00
Earnings2022/02/28
Annual Earnings2021/08/31


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.