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Venture

SGX:V03
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
V03
SGX
SGD4B
Market Cap
  1. Home
  2. SG
  3. Tech
Company description

Venture Corporation Limited provides technology solutions, products, and services in Singapore, other countries in the Asia Pacific, and internationally. The last earnings update was 24 days ago. More info.


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V03 Share Price and Events
7 Day Returns
-2.7%
SGX:V03
-3.9%
SG Electronic
-1.8%
SG Market
1 Year Returns
-26.4%
SGX:V03
-20.3%
SG Electronic
-8.4%
SG Market
V03 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Venture (V03) -2.7% -18.9% -3.8% -26.4% 88.9% 116.4%
SG Electronic -3.9% -14.8% 0% -20.3% 62.6% 35.6%
SG Market -1.8% -3.8% -1.2% -8.4% 10.2% -7.1%
1 Year Return vs Industry and Market
  • V03 underperformed the Electronic industry which returned -20.3% over the past year.
  • V03 underperformed the Market in Singapore which returned -8.4% over the past year.
Price Volatility
V03
Industry
5yr Volatility vs Market

Value

 Is Venture 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 Venture 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 Venture.

SGX:V03 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
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:V03
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.053 (1 + (1- 17%) (0.39%))
1.038
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (1.038 * 5.96%)
8.49%

Discounted Cash Flow Calculation for SGX:V03 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Venture 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:V03 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 8.49%)
2019 330.25 Analyst x4 304.41
2020 357.63 Analyst x4 303.84
2021 356.18 Analyst x4 278.93
2022 357.62 Est @ 0.41% 258.15
2023 361.11 Est @ 0.98% 240.27
2024 366.07 Est @ 1.37% 224.51
2025 372.12 Est @ 1.65% 210.36
2026 378.99 Est @ 1.85% 197.48
2027 386.51 Est @ 1.98% 185.64
2028 394.55 Est @ 2.08% 174.67
Present value of next 10 years cash flows SGD2,378.26
SGX:V03 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD394.55 × (1 + 2.3%) ÷ (8.49% – 2.3%)
SGD6,524.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD6,524.34 ÷ (1 + 8.49%)10
SGD2,888.36
SGX:V03 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD2,378.26 + SGD2,888.36
SGD5,266.63
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD5,266.63 / 288.04
SGD18.28
SGX:V03 Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD18.28
Current discount Discount to share price of SGD15.60
= -1 x (SGD15.60 - SGD18.28) / SGD18.28
14.7%

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

Current Discount
Amount off the current price Venture is available for.
Intrinsic value
15%
Share price is SGD15.6 vs Future cash flow value of SGD18.28
Current Discount Checks
For Venture to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Venture's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Venture's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Venture's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Venture's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:V03 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD1.31
SGX:V03 Share Price ** SGX (2019-05-17) in SGD SGD15.6
Singapore Electronic Industry PE Ratio Median Figure of 21 Publicly-Listed Electronic Companies 11.89x
Singapore Market PE Ratio Median Figure of 322 Publicly-Listed Companies 12.52x

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

** Primary Listing of Venture.

SGX:V03 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:V03 Share Price ÷ EPS (both in SGD)

= 15.6 ÷ 1.31

11.89x

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

  • Venture is good value based on earnings compared to the SG Electronic industry average.
  • Venture is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does Venture's expected growth come at a high price?
Raw Data
SGX:V03 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
5.1%per year
Singapore Electronic Industry PEG Ratio Median Figure of 5 Publicly-Listed Electronic Companies 2.31x
Singapore Market PEG Ratio Median Figure of 120 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

SGX:V03 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.89x ÷ 5.1%

2.31x

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

  • Venture is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Venture's assets?
Raw Data
SGX:V03 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD8.45
SGX:V03 Share Price * SGX (2019-05-17) in SGD SGD15.6
Singapore Electronic Industry PB Ratio Median Figure of 22 Publicly-Listed Electronic Companies 0.86x
Singapore Market PB Ratio Median Figure of 432 Publicly-Listed Companies 0.72x
SGX:V03 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:V03 Share Price ÷ Book Value per Share (both in SGD)

= 15.6 ÷ 8.45

1.85x

* Primary Listing of Venture.

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

  • Venture is overvalued based on assets compared to the SG Electronic industry average.
X
Value checks
We assess Venture'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Venture has a total score of 2/6, 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.

Future Performance

 How is Venture expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

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
5.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Venture expected to grow at an attractive rate?
  • Venture's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Venture's earnings growth is positive but not above the Singapore market average.
  • Venture's revenue growth is positive but not above the Singapore market average.
Annual Growth Rates Comparison
Raw Data
SGX:V03 Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:V03 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 5.1%
SGX:V03 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 4.6%
Singapore Electronic Industry Earnings Growth Rate Market Cap Weighted Average 5.4%
Singapore Electronic Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.7%
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:V03 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:V03 Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,068 394 429 7
2020-12-31 3,883 419 407 9
2019-12-31 3,726 347 386 9
SGX:V03 Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 3,557 326 377
2018-12-31 3,485 254 370
2018-09-30 3,665 401 405
2018-06-30 3,957 472 436
2018-03-31 4,017 477 408
2017-12-31 4,005 449 373
2017-09-30 3,773 324 284
2017-06-30 3,416 205 220
2017-03-31 3,087 136 193
2016-12-31 2,874 231 181
2016-09-30 2,714 292 171
2016-06-30 2,701 301 165

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Venture's earnings are expected to grow by 5.1% yearly, however this is not considered high growth (20% yearly).
  • Venture's revenue is expected to grow by 4.6% yearly, however this is not considered high growth (20% yearly).
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:V03 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Venture Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:V03 Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.49 1.67 1.32 6.00
2020-12-31 1.41 1.54 1.30 7.00
2019-12-31 1.34 1.40 1.29 7.00
SGX:V03 Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 1.31
2018-12-31 1.29
2018-09-30 1.28
2018-06-30 1.53
2018-03-31 1.44
2017-12-31 1.32
2017-09-30 1.01
2017-06-30 0.79
2017-03-31 0.70
2016-12-31 0.65
2016-09-30 0.62
2016-06-30 0.60

*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.
  • Venture is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Venture'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 Singapore 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.
Venture has a total score of 1/6, 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.

Past Performance

  How has Venture 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 Venture's growth in the last year to its industry (Electronic).
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.
  • Venture has delivered over 20% year on year earnings growth in the past 5 years.
  • Venture's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Venture's 1-year earnings growth is negative, it can't be compared to the SG Electronic industry average.
Earnings and Revenue History
Venture'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 Venture Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:V03 Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 3,557.35 377.26 318.59 75.08
2018-12-31 3,484.60 370.06 317.44 82.99
2018-09-30 3,665.15 405.36 327.70 91.41
2018-06-30 3,956.63 435.97 338.19 84.53
2018-03-31 4,017.48 407.89 344.76 57.39
2017-12-31 4,004.54 372.82 346.07 49.91
2017-09-30 3,772.64 283.88 333.09 39.29
2017-06-30 3,416.43 219.88 322.73 37.43
2017-03-31 3,086.56 193.44 300.06 36.35
2016-12-31 2,874.22 180.68 285.00 36.91
2016-09-30 2,713.65 171.44 275.07 32.90
2016-06-30 2,700.86 164.59 269.50 34.77
2016-03-31 2,678.57 157.26 264.46 37.27
2015-12-31 2,656.50 153.99 261.86 42.47
2015-09-30 2,637.16 84.71 265.17 44.59
2015-06-30 2,542.98 80.31 260.84 41.48
2015-03-31 2,483.12 77.79 257.80 39.63
2014-12-31 2,465.46 76.00 256.38 30.99
2014-09-30 2,413.65 138.47 251.94 26.16
2014-06-30 2,403.45 137.38 250.92 27.16
2014-03-31 2,390.04 133.89 251.52 27.89
2013-12-31 2,329.55 131.13 247.23 28.17
2013-09-30 2,299.46 131.10 245.18 27.15
2013-06-30 2,319.86 128.61 243.39 24.18
2013-03-31 2,343.95 132.16 242.39 23.01
2012-12-31 2,387.73 139.65 242.84 24.27
2012-09-30 2,427.45 139.69 243.43 28.92
2012-06-30 2,402.16 142.56 244.69 29.27

*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.
  • Venture has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Venture used its assets more efficiently than the SG Electronic industry average last year based on Return on Assets.
  • Venture has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Venture'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 Electronic 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.
Venture has a total score of 3/6, 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.

Health

 How is Venture'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 Venture's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Venture is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Venture's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Venture'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.
  • Debt is covered by short term assets, assets are 137.5x debt.
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 Venture Company Filings, last reported 1 month ago.

SGX:V03 Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,434.48 17.56 806.75
2018-12-31 2,352.10 1.80 717.88
2018-09-30 2,249.33 42.37 740.25
2018-06-30 2,208.01 41.70 688.62
2018-03-31 2,255.81 40.69 765.27
2017-12-31 2,168.06 30.83 758.94
2017-09-30 2,026.49 64.52 599.59
2017-06-30 1,922.08 75.16 441.66
2017-03-31 1,991.79 87.22 486.82
2016-12-31 1,962.53 92.64 502.76
2016-09-30 1,847.29 90.62 427.58
2016-06-30 1,784.82 92.65 377.45
2016-03-31 1,889.46 125.33 527.02
2015-12-31 1,895.81 135.02 469.93
2015-09-30 1,913.65 157.21 378.54
2015-06-30 1,825.47 174.83 329.81
2015-03-31 1,943.13 176.00 440.88
2014-12-31 1,801.01 169.00 403.89
2014-09-30 1,795.27 166.66 331.45
2014-06-30 1,743.69 173.17 310.39
2014-03-31 1,855.57 178.50 416.15
2013-12-31 1,829.25 161.80 400.46
2013-09-30 1,783.92 131.65 337.23
2013-06-30 1,753.93 154.49 357.34
2013-03-31 1,843.82 135.26 429.40
2012-12-31 1,799.80 167.40 456.14
2012-09-30 1,766.83 169.18 433.56
2012-06-30 1,768.53 171.14 398.47
  • Venture's level of debt (0.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (9.6% vs 0.7% today).
  • Debt is well covered by operating cash flow (1859.7%, greater than 20% of total debt).
  • Venture earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Venture'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. Venture 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.

Dividends

 What is Venture'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
4.49%
Current annual income from Venture dividends. Estimated to be 4.65% next year.
If you bought SGD2,000 of Venture shares you are expected to receive SGD90 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?
  • Venture's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.57%).
  • Venture's dividend is below the markets top 25% of dividend payers in Singapore (5.7%).
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:V03 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 9 Analyst Estimates (S&P Global) See Below
Singapore Electronic Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 4.6%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 276 Stocks 4%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.7%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.6%
Singapore Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

SGX:V03 Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.74 6.00
2020-12-31 0.72 7.00
2019-12-31 0.71 7.00
SGX:V03 Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-04-02 0.700 3.950
2019-02-22 0.700 3.875
2018-11-02 0.400 2.657
2018-08-03 0.400 2.337
2018-04-02 0.600 2.965
2017-04-05 0.500 2.991
2017-02-24 0.500 4.504
2016-04-07 0.500 5.462
2016-02-25 0.500 6.057
2015-04-02 0.500 6.153
2014-02-26 0.500 6.438
2013-03-04 0.500 6.563
2012-02-24 0.550 6.857
2011-05-05 0.550 7.535
2010-04-29 0.500 5.435

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

  • Venture has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Venture only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Venture's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Venture's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - 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 Venture afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Venture has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Venture'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
Ngit Wong
COMPENSATION SGD12,018,067
AGE 77
CEO Bio

Mr. Ngit Liong Wong has been the Chairman and Chief Executive Officer of Venture Group of Companies since 1986. Mr. Wong serves as the Chief Executive Officer of Venture Corporation Limited. He serves as Chairman of the Board and Chief Executive Officer of Scinetic Engineering Pte. Ltd. He served as a Group President of Venture Corporation Limited. He served as Managing Director of Venture Corporation Limited. Mr. Wong has been Chairman of the Board of Venture Corporation Limited since February 4, 2004. He serves as Member of Supervisory Board of Philips Medical Systems International B.V. He has been Member of Supervisory Board of Philips Electronics Singapore Pte. Ltd. since 2005. He is a Member of Supervisory Board of Philips Lighting B.V. since April 2005. He has been Executive Director of Venture Corp Ltd since January 29, 1989. Mr. Wong served as Director of DBS Group Holdings Ltd. from May 3, 2004 to August 2009. He served as Director of DBS Bank Ltd., since May 3, 2004. He serves as Director of Advanced Products Corporation Pte Ltd., Royal Phillips Electronics Sector Cebelian Holdings Pte Ltd., EAS Security Systems Pte Ltd., Innovative Trek Technology Pte Ltd., Multitech Systems Pte Ltd., NLW Pte Ltd., Pintarmas Sdn Bhd, PT Venture Electronics Indonesia, V-Design Services (M) Sdn Bhd, Technocom Systems Sdn Bhd, Univac Precision Engineering Pte Ltd., Ventech Data Systems Pte Ltd., Ventech Investment Ltd., Venture Electronics (Europe) B.V, Venture Electronics International, Inc., Venture Electronics Solutions Pte Ltd., Venture Electronics Spain, S.L., Venture Hungary Electronics Manufacturing Limited Liability Company, VIPColor Technologies Pte Ltd., VIPColor Technologies USA, Inc., VM Services, Inc., and VS Electronics Pte Ltd. Mr. Wong spent the first 12 years of his career with Hewlett-Packard Company (HP), and held various management positions at HP headquarters in Palo Alto, United States. He was actively engaged in the start-up of HP Singapore. He was also the founding Director and General Manager of HP Malaysia. He served as Member of the Supervisory Board at Koninklijke Philips Electronics Nv from April 21, 2005 to 2009. He was a Director of Royal Philips Electronics, Singapore Economic Development Board, and International Enterprise Singapore. Mr. Wong served as an Independent Director of Singapore Exchange Ltd., since November 15, 1999. Mr. Wong served as a Director of SIA Engineering Co., Ltd., from March 1, 2000 to July 21, 2006. He was previously on the Boards of k1 Venture Limited, Keppel Capital Holdings Limited and Keppel Tat Lee Bank Limited. He serves as Member of the Research Innovation and Enterprise Council under the Prime Minister's Office. He was also appointed a member of both the Constitutional Commission and the Ministerial Salary Review Committee by the Singapore Government. Among the recognitions accorded him were the Ernst & Young Entrepreneur of the Year and Master Entrepreneur Award in 2002 and Singapore Business Time/DHL Worldwide Express Businessman of the Year in 1998. He was the Chairman of the Board of Trustees at the National University of Singapore from 2004 to 2016. Mr. Wong holds a 1st Class (Honours) degree in Electrical Engineering from the University of Malaya, and a Master’s degree in Electronics Engineering from the University of California, Berkeley in the United States where he was a Fulbright Scholar. He also holds a Master of Business Administration degree with distinction from McGill University under the Canadian Commonwealth Fellowship.

CEO Compensation
  • Ngit's compensation has increased by more than 20% in the past year.
  • Ngit's remuneration is higher than average for companies of similar size in Singapore.
Management Team Tenure

Average tenure of the Venture management team in years:

4.3
Average Tenure
  • The tenure for the Venture management team is about average.
Management Team

Ngit Wong

TITLE
Chairman & CEO
COMPENSATION
SGD12M
AGE
77

Chee Ng

TITLE
Chief Financial Officer
AGE
48
TENURE
4.3 yrs

Chee Wong

TITLE
VP of Design Services

Karin Xiao

TITLE
Senior Manager

Sita Lim

TITLE
Chief Human Resource Officer

Ghai Lee

TITLE
Executive Vice President of Technology Products & Solutions
TENURE
7.3 yrs

Chin Tong Wong

TITLE
Chief Marketing Officer of USA Sales & Marketing

Dharma Nadarajah

TITLE
Executive Vice President of Advanced Manufacturing & Design Solutions

Devika Davar

TITLE
Company Secretary
TENURE
0.2 yrs
Board of Directors Tenure

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

4.7
Average Tenure
70
Average Age
  • The tenure for the Venture board of directors is about average.
Board of Directors

Ngit Wong

TITLE
Chairman & CEO
COMPENSATION
SGD12M
AGE
77
TENURE
15.3 yrs

Lee Koh

TITLE
Lead Independent Director
COMPENSATION
SGD140K
TENURE
5.1 yrs

Goh Goon

TITLE
Independent Non-Executive Director
COMPENSATION
SGD145K
AGE
76
TENURE
15.3 yrs

Yew Wong

TITLE
Independent Non-Executive Director
COMPENSATION
SGD135K
AGE
68
TENURE
9.7 yrs

Jon Huberman

TITLE
Independent Non-Executive Director
COMPENSATION
SGD110K
AGE
53
TENURE
4.3 yrs

Thong Han

TITLE
Independent Non Executive Director
COMPENSATION
SGD110K
AGE
56
TENURE
3.3 yrs

Kay Kuok

TITLE
Independent Non-Executive Director
AGE
72
TENURE
1.3 yrs

Audrey Liow Tan

TITLE
Independent Non-Executive Director
TENURE
0.5 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)
06. Mar 19 Sell Schroder Investment Management Limited Company 04. Mar 19 04. Mar 19 -219,100 SGD19.09 SGD-4,182,619
26. Nov 18 Buy Schroder Investment Management Limited Company 22. Nov 18 22. Nov 18 300 SGD14.62 SGD4,386
01. Nov 18 Buy Schroder Investment Management Limited Company 30. Oct 18 30. Oct 18 900 SGD14.63 SGD13,167
04. Jun 18 Buy BlackRock, Inc. Company 31. May 18 31. May 18 1,044,500 SGD21.10 SGD22,038,949
X
Management checks
We assess Venture'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. Venture 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.

News

Simply Wall St News

Interested In Venture Corporation Limited (SGX:V03)? Here's How It Performed Recently

After looking at Venture Corporation Limited's (SGX:V03) latest earnings announcement (31 March 2019), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … See our latest analysis for Venture Was V03 weak performance lately part of a long-term decline? … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 32%, indicating the rate at which V03 is growing has slowed down.

Simply Wall St -

Could Venture Corporation Limited's (SGX:V03) Investor Composition Influence The Stock Price?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Here's What We Think About Venture Corporation Limited's (SGX:V03) CEO Pay

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Ngit Wong's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Venture Corporation Limited has a market cap of S$5.5b, and is paying total annual CEO compensation of S$12m.

Simply Wall St -

Despite Its High P/E Ratio, Is Venture Corporation Limited (SGX:V03) Still Undervalued?

We'll apply a basic P/E ratio analysis to Venture Corporation Limited's (SGX:V03), to help you decide if the stock is worth further research. … Venture has a price to earnings ratio of 14.68, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Can Venture Corporation Limited's (SGX:V03) ROE Continue To Surpass The Industry Average?

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 SGD0.16 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

A Close Look At Venture Corporation Limited’s (SGX:V03) 18% 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. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Will Venture Corporation Limited's (SGX:V03) Earnings Grow In The Next Couple Of Years?

The most recent earnings release Venture Corporation Limited's (SGX:V03) announced in December 2018a

Simply Wall St -

Did You Miss Venture's (SGX:V03) Impressive 151% Share Price Gain?

But on a lighter note, a good company can see its share price rise well over 100%. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, Venture managed to grow its earnings per share at 22% a year.

Simply Wall St -

What Are Analysts Saying About The Future Of Venture Corporation Limited's (SGX:V03)?

Looking at Venture Corporation Limited's (SGX:V03) earnings update on 31 December 2018, … with earnings expected to grow by 5.5% in the upcoming year … the higher past 5-year average growth rate of 32%.

Simply Wall St -

Venture Corporation Limited (SGX:V03): Commentary On Fundamentals

Help shape the future of investing tools and receive a $20 prize! … Venture Corporation Limited (SGX:V03) is a company with exceptional fundamental characteristics. … is a company with great financial health as well as a

Simply Wall St -

Company Info

Description

Venture Corporation Limited provides technology solutions, products, and services in Singapore, other countries in the Asia Pacific, and internationally. The company operates through Advanced Manufacturing & Design Solutions, and Technology Products & Design Solutions segments. It engages in the design, manufacture, assemble, and distribution of electronic, and other computer products and peripherals; manufacture and sale of terminal units; manufacturing and trading of mechanical products; development and marketing of color imaging products for label printing; and design, integration, and trading of electronic security systems and products. The company is also involved in the provision of electronics services; engineering, customization, logistic, and repair services; information system development and support services; design solutions and services; administrative and technical, and management services. In addition, it engages in the manufacture, design, fabrication, stamping and injection, metal punching, and spraying of industrial metal parts, tools, and dies; design, customization, and marketing of tool-making and precision engineering solutions; manufacture of plastic injection molds and moldings with secondary processes and subassembly; manufacture of high technology products, and import and export of electronic parts, components, equipment, devices, and instruments. Venture Corporation Limited was founded in 1984 and is headquartered in Singapore.

Details
Name: Venture Corporation Limited
V03
Exchange: SGX
Founded: 1984
SGD4,493,464,201
288,042,577
Website: http://www.venture.com.sg
Address: Venture Corporation Limited
5006 Ang Mo Kio Avenue 5,
No. 05-01/12 TECHplace II,
Singapore,
569873,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX V03 Ordinary Shares Singapore Exchange SG SGD 04. Nov 1992
OTCPK VEML.F Ordinary Shares Pink Sheets LLC US USD 04. Nov 1992
DB VEM Ordinary Shares Deutsche Boerse AG DE EUR 04. Nov 1992
OTCPK VEML.Y ADR Pink Sheets LLC US USD 09. Jan 2009
Number of employees
Current staff
Staff numbers
12,000
Venture employees.
Industry
Electronic Manufacturing Services
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 12:36
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/04
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
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.