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VICOM

SGX:V01
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
V01
SGX
SGD603M
Market Cap
  1. Home
  2. SG
  3. Commercial Services
Company description

VICOM Ltd provides technical testing and inspection services in Singapore. The last earnings update was 24 days ago. More info.


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V01 Share Price and Events
7 Day Returns
1.8%
SGX:V01
2.5%
SG Commercial Services
0.4%
SG Market
1 Year Returns
9.5%
SGX:V01
-16.7%
SG Commercial Services
-5.9%
SG Market
V01 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
VICOM (V01) 1.8% 4.5% 12.4% 9.5% 11.7% 14.5%
SG Commercial Services 2.5% 5.6% 16.1% -16.7% -15% -34.6%
SG Market 0.4% 3.3% 4.1% -5.9% 8.8% -2.5%
1 Year Return vs Industry and Market
  • V01 outperformed the Commercial Services industry which returned -16.7% over the past year.
  • V01 outperformed the Market in Singapore which returned -5.9% over the past year.
Price Volatility
V01
Industry
5yr Volatility vs Market

V01 Value

 Is VICOM undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of VICOM to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for VICOM.

SGX:V01 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year SG Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SGX:V01
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 17%) (0%))
0.822
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (0.822 * 5.96%)
7.2%

Discounted Cash Flow Calculation for SGX:V01 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for VICOM is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SGX:V01 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 7.2%)
2019 17.64 Est @ -4.43% 16.46
2020 17.22 Est @ -2.41% 14.98
2021 17.05 Est @ -1% 13.84
2022 17.05 Est @ -0.01% 12.91
2023 17.16 Est @ 0.69% 12.12
2024 17.36 Est @ 1.17% 11.44
2025 17.63 Est @ 1.51% 10.83
2026 17.93 Est @ 1.75% 10.28
2027 18.28 Est @ 1.91% 9.77
2028 18.65 Est @ 2.03% 9.30
Present value of next 10 years cash flows SGD121.93
SGX:V01 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD18.65 × (1 + 2.3%) ÷ (7.2% – 2.3%)
SGD389.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD389.35 ÷ (1 + 7.2%)10
SGD194.21
SGX:V01 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD121.93 + SGD194.21
SGD316.14
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD316.14 / 88.64
SGD3.57
SGX:V01 Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD3.57
Current discount Discount to share price of SGD6.79
= -1 x (SGD6.79 - SGD3.57) / SGD3.57
-90.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of VICOM is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for VICOM's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are VICOM's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:V01 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SGD SGD0.39
SGX:V01 Share Price ** SGX (2019-04-18) in SGD SGD6.79
Singapore Commercial Services Industry PE Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 12.66x
Singapore Market PE Ratio Median Figure of 328 Publicly-Listed Companies 13.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of VICOM.

SGX:V01 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:V01 Share Price ÷ EPS (both in SGD)

= 6.79 ÷ 0.39

17.35x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VICOM is overvalued based on earnings compared to the SG Commercial Services industry average.
  • VICOM is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does VICOM's expected growth come at a high price?
Raw Data
SGX:V01 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-19%per year
Asia Commercial Services Industry PEG Ratio Median Figure of 11 Publicly-Listed Commercial Services Companies 0.9x
Singapore Market PEG Ratio Median Figure of 119 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for VICOM, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on VICOM's assets?
Raw Data
SGX:V01 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SGD SGD1.70
SGX:V01 Share Price * SGX (2019-04-18) in SGD SGD6.79
Singapore Commercial Services Industry PB Ratio Median Figure of 14 Publicly-Listed Commercial Services Companies 0.74x
Singapore Market PB Ratio Median Figure of 432 Publicly-Listed Companies 0.75x
SGX:V01 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:V01 Share Price ÷ Book Value per Share (both in SGD)

= 6.79 ÷ 1.70

3.99x

* Primary Listing of VICOM.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VICOM is overvalued based on assets compared to the SG Commercial Services industry average.
X
Value checks
We assess VICOM's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. VICOM has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

V01 Future Performance

 How is VICOM expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover VICOM, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-19%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is VICOM expected to grow at an attractive rate?
  • VICOM's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
  • VICOM's earnings are expected to decrease over the next 1-3 years, this is below the Singapore market average.
  • Unable to compare VICOM's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:V01 Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:V01 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -19%
Singapore Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 9.5%
Asia Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 23.5%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.6%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SGX:V01 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:V01 Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2018-12-31 100 30 35
2018-09-30 99 28 27
2018-06-30 98 32 27
2018-03-31 97 33 27
2017-12-31 97 33 27
2017-09-30 98 34 27
2017-06-30 99 31 27
2017-03-31 100 32 28
2016-12-31 101 33 28
2016-09-30 102 33 29
2016-06-30 102 34 29
2016-03-31 104 36 30

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • VICOM's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if VICOM is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SGX:V01 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from VICOM Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:V01 Past Financials Data
Date (Data in SGD Millions) EPS *
2018-12-31 0.39
2018-09-30 0.31
2018-06-30 0.30
2018-03-31 0.30
2017-12-31 0.30
2017-09-30 0.30
2017-06-30 0.31
2017-03-31 0.31
2016-12-31 0.32
2016-09-30 0.32
2016-06-30 0.33
2016-03-31 0.34

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if VICOM will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess VICOM's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Singapore market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
VICOM has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

V01 Past Performance

  How has VICOM performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare VICOM's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • VICOM's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • VICOM's 1-year earnings growth exceeds its 5-year average (30.9% vs -1.3%)
  • VICOM's earnings growth has exceeded the SG Commercial Services industry average in the past year (30.9% vs -9.3%).
Earnings and Revenue History
VICOM's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from VICOM Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:V01 Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 100.06 34.70 4.11
2018-09-30 98.67 27.16 3.71
2018-06-30 98.01 26.83 3.74
2018-03-31 97.43 26.66 3.69
2017-12-31 97.03 26.50 4.06
2017-09-30 97.77 26.74 3.66
2017-06-30 98.62 27.15 3.66
2017-03-31 99.95 27.70 3.66
2016-12-31 101.18 28.16 3.67
2016-09-30 101.92 28.77 3.74
2016-06-30 101.89 29.35 3.72
2016-03-31 103.78 30.31 3.71
2015-12-31 106.71 31.42 3.73
2015-09-30 107.96 31.12 3.65
2015-06-30 109.58 30.90 3.67
2015-03-31 109.55 30.55 3.63
2014-12-31 108.17 30.14 3.62
2014-09-30 107.39 29.75 3.97
2014-06-30 106.47 29.38 3.90
2014-03-31 105.83 29.00 3.87
2013-12-31 104.97 28.45 3.75
2013-09-30 103.19 27.76 3.50
2013-06-30 101.51 27.38 3.44
2013-03-31 98.85 26.87 3.37
2012-12-31 97.10 26.41 3.33
2012-09-30 95.81 26.61 3.26
2012-06-30 94.27 26.45 3.18

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • VICOM has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • VICOM used its assets more efficiently than the SG Commercial Services industry average last year based on Return on Assets.
  • VICOM's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess VICOM's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
VICOM has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

V01 Health

 How is VICOM's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up VICOM's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • VICOM is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • VICOM's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of VICOM's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • VICOM has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from VICOM Company Filings, last reported 3 months ago.

SGX:V01 Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 151.81 0.00 104.22
2018-09-30 136.99 0.00 91.97
2018-06-30 142.32 0.00 97.90
2018-03-31 156.22 0.00 113.09
2017-12-31 149.31 0.00 107.59
2017-09-30 141.97 0.00 99.43
2017-06-30 147.29 0.00 100.89
2017-03-31 157.51 0.00 111.53
2016-12-31 150.82 0.00 105.80
2016-09-30 143.32 0.00 95.98
2016-06-30 143.70 0.00 95.76
2016-03-31 154.50 0.00 107.45
2015-12-31 147.25 0.00 100.26
2015-09-30 139.08 0.00 90.97
2015-06-30 139.62 0.00 90.47
2015-03-31 148.14 0.00 98.44
2014-12-31 139.89 0.00 91.03
2014-09-30 132.06 0.00 83.07
2014-06-30 132.73 0.00 80.15
2014-03-31 138.20 0.00 84.95
2013-12-31 130.07 0.00 78.70
2013-09-30 122.57 0.00 70.85
2013-06-30 122.97 0.00 69.31
2013-03-31 124.92 0.00 71.78
2012-12-31 117.50 0.00 66.15
2012-09-30 110.74 0.00 58.62
2012-06-30 111.01 0.00 55.68
  • VICOM has no debt.
  • VICOM has not taken on any debt in the past 5 years.
  • VICOM has no debt, it does not need to be covered by operating cash flow.
  • VICOM has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess VICOM's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. VICOM has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

V01 Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.39%
Current annual income from VICOM dividends.
If you bought SGD2,000 of VICOM shares you are expected to receive SGD108 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • VICOM's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.51%).
  • VICOM's dividend is below the markets top 25% of dividend payers in Singapore (5.43%).
Upcoming dividend payment

Purchase VICOM before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SGX:V01 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Singapore Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 278 Stocks 3.9%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.6%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.5%
Singapore Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SGX:V01 Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-03-25 0.366 5.554
2019-02-11 0.366 5.756
2018-03-29 0.458 7.530
2018-02-09 0.458 7.571
2017-11-08 0.316 5.460
2017-08-07 0.316 5.528
2017-03-24 0.265 4.640
2016-11-09 0.278 4.874
2016-08-10 0.278 4.832
2016-03-28 0.293 4.967
2015-11-11 0.270 4.510
2015-08-11 0.270 4.477
2015-03-23 0.270 4.283
2014-11-11 0.239 3.758
2014-08-12 0.239 3.901
2014-02-11 0.226 3.724
2013-11-12 0.192 3.752
2013-08-07 0.192 3.990
2013-02-06 0.182 3.719
2012-11-08 0.150 3.059
2012-08-10 0.150 3.118
2012-04-03 0.182 4.299
2012-02-09 0.182 4.356
2011-11-10 0.138 3.848
2011-08-11 0.138 4.080
2011-02-10 0.132 4.085
2010-11-10 0.126 4.318
2010-08-13 0.126 4.524
2010-02-09 0.118 4.618
2009-08-11 0.101 4.656
2009-04-20 0.093 5.263

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of VICOM's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess VICOM's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can VICOM afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. VICOM has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

V01 Management

 What is the CEO of VICOM's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Wing Yew Sim
COMPENSATION SGD532,840
AGE 51
TENURE AS CEO 6.9 years
CEO Bio

Mr. Wing Yew Sim has been the Chief Executive Officer of VICOM Ltd at ComfortDelGro Corporation Limited since May 01, 2012. Mr. Sim has been the Chief Executive Officer of Vicom Ltd. since May 1, 2012. He served as Chief Operating Officer of Comf Comfortdelgro Engineering Pte Ltd. He served as General Manager of See Hup Seng Ltd for 10 years. Mr. Sim joined ComfortDelGro in September 2002 as a General Manager in charge of two maintenance workshops in SBS Transit Ltd's Fleet Management Department. His duties included ensuring the fleet to meet or exceed all the regulatory and safety standards and also deliver a high performance standard in terms of reliability to support bus operations. He has been an Executive Director of Vicom Ltd. since May 1, 2012. Mr. Sim holds a Bachelor of Engineering (Hons) Degree in Mechanical and Production Engineering from the Nanyang Technolgical University, Singapore and a Masters of Business Administration degree from the University of Hull, United Kingdom.

CEO Compensation
  • Insufficient data for Wing Yew to compare compensation growth.
  • Wing Yew's remuneration is about average for companies of similar size in Singapore.
Management Team Tenure

Average tenure of the VICOM management team in years:

3.3
Average Tenure
  • The tenure for the VICOM management team is about average.
Management Team

Wing Yew Sim

TITLE
CEO & Executive Director
COMPENSATION
SGD533K
AGE
51
TENURE
6.9 yrs

Mary Lee

TITLE
Chief Financial Officer
TENURE
6.8 yrs

Chun Wah Yip

TITLE
Vice President of Operations
TENURE
12.3 yrs

Ann Tan

TITLE
Assistant Vice President of Sales & Marketing
TENURE
10.3 yrs

Kee Beng

TITLE
Assistant Vice President of Human Resource
TENURE
0.3 yrs

Samy Samugam

TITLE
Assistant Manager of Operations & Head of VICOM Emission Test Laboratory
TENURE
1.1 yrs

Thiam Siong Sze

TITLE
Chief Executive Officer of Setsco Services Pte Ltd
TENURE
0.1 yrs

Wendy Chan

TITLE
Joint Company Secretary

Edwin Yeo

TITLE
Joint Company Secretary
TENURE
1.9 yrs

Tammy Tan

TITLE
Corporate Communications Officer of ComfortDelGro Group
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the VICOM board of directors in years:

1.9
Average Tenure
64
Average Age
  • The average tenure for the VICOM board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jit Poh Lim

TITLE
Chairman of the Board
COMPENSATION
SGD72K
AGE
78
TENURE
34.3 yrs

Wing Yew Sim

TITLE
CEO & Executive Director
COMPENSATION
SGD533K
AGE
51
TENURE
6.9 yrs

Ban Seng Yang

TITLE
Deputy Chairman
COMPENSATION
SGD29K
AGE
61
TENURE
1.9 yrs

Nancy Teo

TITLE
Independent Non-Executive Director
COMPENSATION
SGD52K
AGE
63
TENURE
24.1 yrs

Yeow Tin Goh

TITLE
Lead Independent Director
COMPENSATION
SGD64K
AGE
67
TENURE
6.3 yrs

Chung Hian Soh

TITLE
Independent Non-Executive Director
AGE
64
TENURE
0.9 yrs

Victor Shim

TITLE
Independent Non-Executive Director
COMPENSATION
SGD29K
TENURE
1.8 yrs

June Seah

TITLE
Independent Non-Executive Director
COMPENSATION
SGD11K
TENURE
1.5 yrs

Kim Siew Tan

TITLE
Independent Non-Executive Director
AGE
64
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SGD) Value (SGD)
X
Management checks
We assess VICOM's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. VICOM has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

V01 News

Simply Wall St News

Is VICOM Ltd (SGX:V01) A Strong Dividend Stock?

Dividend paying stocks like VICOM Ltd (SGX:V01) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … A high yield and a long history of paying dividends is an appealing combination for VICOM.

Simply Wall St -

What Kind Of Shareholder Appears On The VICOM Ltd's (SGX:V01) Shareholder Register?

The big shareholder groups in VICOM Ltd (SGX:V01) have power over the company. … VICOM is not a large company by global standards. … institutional investors have not yet purchased much of the company

Simply Wall St -

If You Had Bought VICOM (SGX:V01) Shares Five Years Ago You'd Have Made 11%

For example, long term VICOM Ltd (SGX:V01) shareholders have enjoyed a 11% share price rise over the last half decade, well in excess of the market return of around -1.9% (not including dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, VICOM achieved compound earnings per share (EPS) growth of 4.0% per year.

Simply Wall St -

A Closer Look At VICOM Ltd's (SGX:V01) Impressive ROE

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every SGD1 worth of shareholders' equity, it generated SGD0.23 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Are VICOM Ltd's (SGX:V01) Interest Costs Too High?

VICOM Ltd (SGX:V01), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … However, the trade-off is V01 will have to follow strict debt obligations which will reduce its financial flexibility. … Is V01 growing fast enough to value financial flexibility over lower cost of capital

Simply Wall St -

Here's What VICOM Ltd's (SGX:V01) P/E Is Telling Us

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … VICOM has a price to earnings ratio of 19.88, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

A Close Look At VICOM Ltd’s (SGX:V01) 23% ROCE

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

What Kind Of Shareholder Appears On The VICOM Ltd's (SGX:V01) Shareholder Register?

Every investor in VICOM Ltd (SGX:V01) should be aware of the most powerful shareholder groups. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … With a market capitalization of S$531m, VICOM is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

Is VICOM Ltd (SGX:V01) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Wing Yew Sim's Compensation Compare With Similar Sized Companies. … According to our data, VICOM Ltd has a market capitalization of S$534m, and pays its CEO total annual compensation worth S$533k.

Simply Wall St -

Should You Be Excited About VICOM Ltd's (SGX:V01) 20% Return On Equity?

This article is for those who would like to learn about Return On Equity (ROE). … One way to conceptualize this, is that for each SGD1 of shareholders' equity it has, the company made SGD0.20 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

V01 Company Info

Description

VICOM Ltd provides technical testing and inspection services in Singapore. It offers vehicle inspection services, including inspection for petrol-driven and diesel-driven vehicles, motorcycles, and power assisted bicycles; vehicle assessment services; and emission test laboratory services. The company provides vehicle evaluation, vehicle inspection and type approval system, in-vehicle unit, speed limiter check, chassis dynamometer smoke test, road tax renewal, motor and general insurance, car buying tips and maintenance talks, and consultancy services. It also offers testing, calibration, inspection, consultancy, and training services to aerospace, marine and offshore, biotechnology, oil and petrochemical, building construction, and electronics manufacturing industries. The company was incorporated in 1981 and is based in Singapore. VICOM Ltd is a subsidiary of ComfortDelGro Corporation Limited.

Details
Name: VICOM Ltd
V01
Exchange: SGX
Founded: 1981
SGD602,765,600
88,642,000
Website: http://www.vicom.com.sg
Address: VICOM Ltd
385 Sin Ming Drive,
Singapore,
575718,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX V01 Ordinary Shares Singapore Exchange SG SGD 13. Oct 1995
Number of employees
Current staff
Staff numbers
865
VICOM employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 12:35
End of day share price update: 2019/04/18 00:00
Last earnings filing: 2019/03/25
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.