SGX:V01

Stock Analysis Report

Executive Summary

VICOM Ltd provides technical testing and inspection services in Singapore.


Snowflake Analysis

Flawless balance sheet with acceptable track record.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: V01 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.8%

V01

-2.1%

SG Commercial Services

-2.0%

SG Market


1 Year Return

30.2%

V01

20.3%

SG Commercial Services

-4.8%

SG Market

Return vs Industry: V01 exceeded the SG Commercial Services industry which returned 20.3% over the past year.

Return vs Market: V01 exceeded the SG Market which returned -4.8% over the past year.


Shareholder returns

V01IndustryMarket
7 Day-4.8%-2.1%-2.0%
30 Day6.5%-0.7%-3.4%
90 Day7.5%20.1%-2.6%
1 Year39.3%30.2%22.8%20.3%-1.0%-4.8%
3 Year70.8%42.4%-16.4%-21.2%7.5%-3.9%
5 Year65.1%26.0%-19.5%-26.4%7.7%-10.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

7.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: V01 (SGD8.19) is trading below our estimate of fair value (SGD8.82)

Significantly Below Fair Value: V01 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: V01 is poor value based on its PE Ratio (25.6x) compared to the Commercial Services industry average (22.2x).

PE vs Market: V01 is poor value based on its PE Ratio (25.6x) compared to the SG market (13.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate V01's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: V01 is overvalued based on its PB Ratio (5.5x) compared to the SG Commercial Services industry average (1x).


Next Steps

Future Growth

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

17.3%

Forecasted Commercial Services 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 VICOM 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.


Next Steps

Past Performance

How has VICOM performed over the past 5 years?

1.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: V01 has high quality earnings.

Growing Profit Margin: V01's current net profit margins (27.4%) are lower than last year (34.7%).


Past Earnings Growth Analysis

Earnings Trend: V01's earnings have grown by 1.3% per year over the past 5 years.

Accelerating Growth: V01's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: V01 had negative earnings growth (-18.1%) over the past year, making it difficult to compare to the Commercial Services industry average (-39.4%).


Return on Equity

High ROE: V01's Return on Equity (21.8%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is VICOM's financial position?


Financial Position Analysis

Short Term Liabilities: V01's short term assets (SGD110.9M) exceed its short term liabilities (SGD38.9M).

Long Term Liabilities: V01's short term assets (SGD110.9M) exceed its long term liabilities (SGD33.9M).


Debt to Equity History and Analysis

Debt Level: V01 is debt free.

Reducing Debt: V01 has not had any debt for past 5 years.

Debt Coverage: V01 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: V01 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: V01 has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if V01's debt is covered by short term assets.


Next Steps

Dividend

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

4.69%

Current Dividend Yield


Upcoming Dividend Payment

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


Dividend Yield vs Market

company4.7%marketbottom25%2.6%markettop25%5.7%industryaverage2.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: V01's dividend (4.69%) is higher than the bottom 25% of dividend payers in the SG market (2.6%).

High Dividend: V01's dividend (4.69%) is low compared to the top 25% of dividend payers in the SG market (5.7%).


Stability and Growth of Payments

Stable Dividend: V01's dividend payments have been volatile in the past 10 years.

Growing Dividend: V01's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (119.8%), V01's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

4.2yrs

Average management tenure


CEO

Wing Yew Sim (52yo)

7.8yrs

Tenure

S$593,340

Compensation

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  ...


CEO Compensation Analysis

Compensation vs Market: Wing Yew's total compensation ($USD424.16K) is below average for companies of similar size in the SG market ($USD644.26K).

Compensation vs Earnings: Wing Yew's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Wing Yew Sim
CEO & Executive Director7.8yrsS$593.34k0.011% SGD83.0k
Peck Kim Lee
Chief Financial Officer7.6yrsno datano data
Chun Wah Yip
Vice President of Operations13.1yrsno datano data
Li Koon Tan
Assistant Vice President of Sales & Marketing11.1yrsno datano data
Kee Beng
Assistant Vice President of Human Resource1.1yrsno datano data
Samy Samugam
Assistant Manager of Operations & Head of VICOM Emission Test Laboratory1.9yrsno datano data
Thiam Siong Sze
Chief Executive Officer of Setsco Services Pte Ltd0.9yrsno data0.87% SGD6.4m
Wan Tak Chan
Joint Company Secretary0yrsno datano data
Tee Yeok Yeo
Joint Company Secretary2.8yrsno datano data
I-Lin Tan
Corporate Communications Officer of ComfortDelGro Group4.2yrsno datano data

4.2yrs

Average Tenure

Experienced Management: V01's management team is considered experienced (4.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Wing Yew Sim
CEO & Executive Director7.8yrsS$593.34k0.011% SGD83.0k
Jit Poh Lim
Chairman of the Board35.1yrsS$74.00k0.21% SGD1.6m
Kim Siew Tan
Independent Non-Executive Director1.8yrsS$29.54kno data
Geok Har Teo
Independent Non-Executive Director24.9yrsS$54.00kno data
Ban Seng Yang
Deputy Chairman2.8yrsS$45.00kno data
Yeow Tin Goh
Independent Non-Executive Director9.4yrsS$66.00kno data
Poh Hong Tan
Independent Non-Executive Director0.8yrsno datano data
Chung Hian Soh
Independent Non-Executive Director1.8yrsS$34.23kno data
Phyau Wui Shim
Lead Independent Director0.4yrsS$51.00k0.0068% SGD49.8k
Lee Kiang Seah
Independent Non-Executive Director2.3yrsS$44.00kno data

2.5yrs

Average Tenure

64.5yo

Average Age

Experienced Board: V01's board of directors are not considered experienced ( 2.5 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

VICOM Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: VICOM Ltd
  • Ticker: V01
  • Exchange: SGX
  • Founded: 1981
  • Industry: Diversified Support Services
  • Sector: Commercial Services
  • Market Cap: S$735.729m
  • Shares outstanding: 88.64m
  • Website: https://www.vicom.com.sg

Number of Employees


Location

  • VICOM Ltd
  • 385 Sin Ming Drive
  • Singapore
  • 575718
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
V01SGX (Singapore Exchange)YesOrdinary SharesSGSGDOct 1995

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 12:37
End of Day Share Price2020/02/25 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.