SGX:569

Stock Analysis Report

Vicplas International

Executive Summary

Vicplas International Ltd, an investment holding company, researches, designs, develops, manufactures, and assembles medical devices in Singapore, Malaysia, and China.

Snowflake

Fundamentals

Excellent balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-3.3%

569

-1.0%

SG Medical Equipment

-0.02%

SG Market


1 Year Return

-5.4%

569

-20.3%

SG Medical Equipment

0.6%

SG Market

Return vs Industry: 569 exceeded the SG Medical Equipment industry which returned -20.3% over the past year.

Return vs Market: 569 underperformed the SG Market which returned 0.6% over the past year.


Shareholder returns

569IndustryMarket
7 Day-3.3%-1.0%-0.02%
30 Day24.3%0.1%-1.6%
90 Day16.0%3.9%-7.3%
1 Year-0.2%-5.4%-18.5%-20.3%4.6%0.6%
3 Year-12.3%-27.5%-16.0%-20.5%15.1%2.8%
5 Year43.9%8.8%13.7%6.4%10.0%-8.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

10.38x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: 569 (SGD0.09) is trading above our estimate of fair value (SGD0.06)

Significantly Undervalued: 569 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 569 is good value based on its PE Ratio (10.4x) compared to the Medical Equipment industry average (23.3x).

PE vs Market: 569 is good value based on its PE Ratio (10.4x) compared to the SG market (13.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate 569's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 569 is good value based on its PB Ratio (0.7x) compared to the SG Medical Equipment industry average (0.7x).


Next Steps

Future Growth

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

10.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 569's forecast earnings growth (10.8% per year) is above the savings rate (2.3%).

Earnings vs Market: 569's earnings (10.8% per year) are forecast to grow faster than the SG market (5.6% per year).

High Growth Earnings: 569's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if 569's revenue is forecast to grow faster than the SG market.

High Growth Revenue: Insufficient data to determine if 569's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if 569's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Vicplas International performed over the past 5 years?

12.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 569 has become profitable over the past 5 years, growing earnings by 12.7% per year.

Accelerating Growth: 569's earnings growth over the past year (43.6%) exceeds its 5-year average (12.7% per year).

Earnings vs Industry: 569 earnings growth over the past year (43.6%) exceeded the Medical Equipment industry 17.9%.


Return on Equity

High ROE: 569's Return on Equity (6.9%) is considered low.


Return on Assets

ROA vs Industry: 569's Return on Assets is below or equal to the Medical Equipment industry average last year.


Return on Capital Employed

ROCE Improving: 569's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Vicplas International's financial position?


Financial Position Analysis

Short Term Liabilities: 569's short term assets (SGD45.9M) exceeds its short term liabilities (SGD20.2M)

Long Term Liabilities: 569's short term assets (45.9M) exceeds its long term liabilities (1.6M)


Debt to Equity History and Analysis

Debt Level: 569's debt to equity ratio (14.3%) is considered satisfactory

Reducing Debt: 569's debt to equity ratio has increased from 2.1% to 14.3% over the past 5 years.

Debt Coverage: 569's debt is well covered by operating cash flow (24%).

Interest Coverage: 569's interest payments on its debt are well covered by EBIT (12.6x coverage).


Balance Sheet

Inventory Level: 569 has a high level of physical assets or inventory.

Debt Coverage by Assets: 569's debt is covered by short term assets (assets are 5.325870x debt).


Next Steps

Dividend

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

5.75%

Current Dividend Yield


Upcoming Dividend Payment

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


Dividend Yield vs Market

company5.7%marketbottom25%2.6%markettop25%5.7%industryaverage0.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 569's dividend (5.75%) is higher than the bottom 25% of dividend payers in the SG market (2.55%).

High Dividend: 569's dividend (5.75%) is in the top 25% of dividend payers in the SG market (5.71%)

Stable Dividend: 569 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 569's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (59.6%), 569's dividend payments are 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

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

4.5yrs

Average management tenure


CEO

Liang Cheng (64yo)

5yrs

Tenure

0

Mr. Liang Cheng has been Group Chief Executive Officer of Vicplas International Ltd since November 1, 2018 having served as its Acting Chief Executive Officer since October 31, 2014 and also is responsibl ...


Management Age and Tenure

4.5yrs

Average Tenure

42yo

Average Age

Experienced Management: 569's management team is considered experienced (4.5 years average tenure).


Board Age and Tenure

6.0yrs

Average Tenure

59yo

Average Age

Experienced Board: 569's board of directors are considered experienced (6 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Liang Cheng (64yo)

    Group Chief Executive Officer

    • Tenure: 5yrs
  • Ying Hui Gan (40yo)

    Chief Financial Officer

    • Tenure: 3.5yrs
  • Esther Au

    Company Secretary

    • Tenure: 7.6yrs
  • Hsheng Cheng (42yo)

    Group Operations Director

    • Tenure: 4.5yrs
  • Chin Toon (41yo)

    Technical Director

    • Tenure: 4.4yrs
  • Walter Tarca (62yo)

    President of Medical Devices Segment

    • Tenure: 3.8yrs

Board Members

  • Robert Gaines-Coopers (82yo)

    Non-Executive Director

    • Tenure: 4.3yrs
  • Cher Yan Ng (60yo)

    Non-Executive Independent Director

    • Tenure: 9.4yrs
  • Jane Rose Philomene Gaines-Cooper (59yo)

    Non-Executive Director

    • Tenure: 2.9yrs
  • Wico Yeo (52yo)

    Non-Executive Independent Chairman

    • Tenure: 10.1yrs
  • Chris Lee (57yo)

    Non-Executive Director

    • Tenure: 6yrs

Company Information

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


Key Information

  • Name: Vicplas International Ltd
  • Ticker: 569
  • Exchange: SGX
  • Founded: 1993
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: S$44.128m
  • Shares outstanding: 507.22m
  • Website: https://www.vicplas.com

Location

  • Vicplas International Ltd
  • 35 Joo Koon Circle
  • Singapore
  • 629110
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
569SGX (Singapore Exchange)YesOrdinary SharesSGSGDApr 1999

Biography

Vicplas International Ltd, an investment holding company, researches, designs, develops, manufactures, and assembles medical devices in Singapore, Malaysia, and China. The company operates through two segm ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 12:37
End of Day Share Price2019/10/17 00:00
Earnings2019/07/31
Annual Earnings2019/07/31


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.