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Vector

OTCPK:VETT.F
Snowflake Description

Solid track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VETT.F
OTCPK
NZ$4B
Market Cap
  1. Home
  2. US
  3. Utilities
Company description

Vector Limited, together with its subsidiaries, engages in electricity and gas distribution, natural gas and LPG sale, gas processing, metering, and telecommunication and new energy businesses in New Zealand. The last earnings update was 55 days ago. More info.


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VETT.F Share Price and Events
7 Day Returns
0%
OTCPK:VETT.F
-1.6%
US Integrated Utilities
-0.3%
US Market
1 Year Returns
-
OTCPK:VETT.F
15.6%
US Integrated Utilities
7%
US Market
VETT.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vector (VETT.F) 0% 4.8% - - 0% 16.4%
US Integrated Utilities -1.6% -0.9% 8.8% 15.6% 23.9% 27.7%
US Market -0.3% 2% 8.5% 7% 37.7% 46.8%
1 Year Return vs Industry and Market
  • No trading data on VETT.F.
  • No trading data on VETT.F.
Price Volatility
VETT.F
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Vector's competitors could be found in our database.

Value

 Is Vector 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 Vector 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 Vector.

OTCPK:VETT.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 OTCPK:VETT.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Integrated Utilities Unlevered Beta Simply Wall St/ S&P Global 0.31
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.311 (1 + (1- 28%) (68.12%))
0.64
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for OTCPK:VETT.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Vector 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.

OTCPK:VETT.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NZD, Millions) Source Present Value
Discounted (@ 7.5%)
2019 -41.00 Analyst x1 -38.14
2020 34.00 Analyst x1 29.42
2021 133.00 Analyst x1 107.07
2022 242.23 Est @ 82.13% 181.40
2023 383.48 Est @ 58.31% 267.14
2024 543.15 Est @ 41.64% 351.98
2025 705.90 Est @ 29.96% 425.54
2026 859.74 Est @ 21.79% 482.13
2027 997.94 Est @ 16.07% 520.60
2028 1,118.41 Est @ 12.07% 542.75
Present value of next 10 years cash flows NZ$2,869.88
OTCPK:VETT.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= NZ$1,118.41 × (1 + 2.73%) ÷ (7.5% – 2.73%)
NZ$24,096.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NZ$24,096.96 ÷ (1 + 7.5%)10
NZ$11,693.87
OTCPK:VETT.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NZ$2,869.88 + NZ$11,693.87
NZ$14,563.76
Equity Value per Share
(NZD)
= Total value / Shares Outstanding
= NZ$14,563.76 / 999.87
NZ$14.57
OTCPK:VETT.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:VETT.F represents 0.64785x of NZSE:VCT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.64785x
Value per Share
(Listing Adjusted, USD)
= Value per Share (NZD) x Listing Adjustment Factor
= NZ$ 14.57 x 0.64785
$9.44
Value per share (USD) From above. $9.44
Current discount Discount to share price of $2.41
= -1 x ($2.41 - $9.44) / $9.44
74.5%

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

Current Discount
Amount off the current price Vector is available for.
Intrinsic value
>50%
Share price is $2.41 vs Future cash flow value of $9.44
Current Discount Checks
For Vector to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vector's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vector's share price is below the future cash flow value, and 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 Vector's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vector's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:VETT.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in NZD NZ$0.15
NZSE:VCT Share Price ** NZSE (2019-03-25) in NZD NZ$3.72
United States of America Integrated Utilities Industry PE Ratio Median Figure of 15 Publicly-Listed Integrated Utilities Companies 20.63x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 18.18x

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

** Primary Listing of Vector.

OTCPK:VETT.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NZSE:VCT Share Price ÷ EPS (both in NZD)

= 3.72 ÷ 0.15

24.39x

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

  • Vector is overvalued based on earnings compared to the US Integrated Utilities industry average.
  • Vector is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Vector's expected growth come at a high price?
Raw Data
OTCPK:VETT.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
2.6%per year
United States of America Integrated Utilities Industry PEG Ratio Median Figure of 13 Publicly-Listed Integrated Utilities Companies 3.15x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

OTCPK:VETT.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 24.39x ÷ 2.6%

9.51x

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

  • Vector is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Vector's assets?
Raw Data
OTCPK:VETT.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in NZD NZ$2.43
NZSE:VCT Share Price * NZSE (2019-03-25) in NZD NZ$3.72
United States of America Integrated Utilities Industry PB Ratio Median Figure of 17 Publicly-Listed Integrated Utilities Companies 2.19x
United States of America Market PB Ratio Median Figure of 5,184 Publicly-Listed Companies 1.91x
OTCPK:VETT.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NZSE:VCT Share Price ÷ Book Value per Share (both in NZD)

= 3.72 ÷ 2.43

1.53x

* Primary Listing of Vector.

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

  • Vector is good value based on assets compared to the US Integrated Utilities industry average.
X
Value checks
We assess Vector'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 Integrated Utilities 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 Integrated Utilities industry average (and greater than 0)? (1 check)
  5. Vector has a total score of 3/6, 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 Vector expected to perform in the next 1 to 3 years based on estimates from 5 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
2.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vector expected to grow at an attractive rate?
  • Vector's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Vector's earnings growth is positive but not above the United States of America market average.
  • Vector's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:VETT.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:VETT.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 2.6%
OTCPK:VETT.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 1.7%
United States of America Integrated Utilities Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
United States of America Integrated Utilities Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 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
OTCPK:VETT.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in NZD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:VETT.F Future Estimates Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 1,376 402 150 5
2020-06-30 1,342 383 143 5
2019-06-30 1,321 368 138 5
OTCPK:VETT.F Past Financials Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,341 373 153
2018-09-30 1,335 381 150
2018-06-30 1,328 390 148
2018-03-31 1,303 368 144
2017-12-31 1,277 346 140
2017-09-30 1,252 341 153
2017-06-30 1,227 336 166
2017-03-31 1,203 333 131
2016-12-31 1,180 329 97
2016-09-30 1,162 341 76
2016-06-30 1,145 352 56
2016-03-31 1,135 383 74

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vector's earnings are expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
  • Vector's revenue is expected to grow by 1.7% 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
OTCPK:VETT.F 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 5 Analyst Estimates (S&P Global) See Below

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

OTCPK:VETT.F Future Estimates Data
Date (Data in NZD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 0.15 0.17 0.14 4.00
2020-06-30 0.14 0.16 0.13 4.00
2019-06-30 0.14 0.15 0.13 4.00
OTCPK:VETT.F Past Financials Data
Date (Data in NZD Millions) EPS *
2018-12-31 0.15
2018-09-30 0.15
2018-06-30 0.15
2018-03-31 0.14
2017-12-31 0.14
2017-09-30 0.15
2017-06-30 0.17
2017-03-31 0.13
2016-12-31 0.10
2016-09-30 0.08
2016-06-30 0.06
2016-03-31 0.07

*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.
  • Vector is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Vector'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Vector 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.

Past Performance

  How has Vector 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 Vector's growth in the last year to its industry (Integrated Utilities).
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.
  • Vector's year on year earnings growth rate has been positive over the past 5 years.
  • Vector's 1-year earnings growth exceeds its 5-year average (9.2% vs 0%)
  • Vector's earnings growth has exceeded the US Integrated Utilities industry average in the past year (9.2% vs -1.2%).
Earnings and Revenue History
Vector'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 Vector Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:VETT.F Past Revenue, Cash Flow and Net Income Data
Date (Data in NZD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,340.80 152.50 153.90
2018-09-30 1,334.60 150.35 153.90
2018-06-30 1,328.40 148.20 153.90
2018-03-31 1,302.85 143.95 149.10
2017-12-31 1,277.30 139.70 144.30
2017-09-30 1,252.00 152.75 144.30
2017-06-30 1,226.70 165.80 144.30
2017-03-31 1,203.15 131.27 137.02
2016-12-31 1,179.60 96.73 129.74
2016-09-30 1,162.10 76.36 129.74
2016-06-30 1,144.60 56.00 129.74
2016-03-31 1,134.86 73.71 131.16
2015-12-31 1,125.11 91.41 132.58
2015-09-30 1,139.26 88.23 132.58
2015-06-30 1,153.41 85.05 132.58
2015-03-31 1,186.62 103.78 129.95
2014-12-31 1,219.84 122.51 127.31
2014-09-30 1,239.35 145.51 127.31
2014-06-30 1,258.86 168.50 127.31
2014-03-31 1,263.40 179.25 125.95
2013-12-31 1,267.94 189.99 124.59
2013-09-30 1,273.55 196.66 124.59
2013-06-30 1,279.15 203.34 124.59
2013-03-31 1,281.53 206.72 80.74
2012-12-31 1,283.91 210.10 36.90
2012-09-30 1,268.08 204.43 54.37
2012-06-30 1,252.24 198.77 71.84

*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.
  • Vector has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vector used its assets more efficiently than the US Integrated Utilities industry average last year based on Return on Assets.
  • Vector has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Vector'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 Integrated Utilities 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.
Vector has a total score of 5/6, 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 Vector'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 Vector's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vector's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Vector's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Vector'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 not covered by short term assets, assets are 0.1x 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 Vector Company Filings, last reported 3 months ago.

OTCPK:VETT.F Past Debt and Equity Data
Date (Data in NZD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,451.10 2,520.00 26.50
2018-09-30 2,451.10 2,520.00 26.50
2018-06-30 2,457.90 2,395.80 27.90
2018-03-31 2,457.90 2,395.80 27.90
2017-12-31 2,468.10 2,232.00 17.90
2017-09-30 2,468.10 2,232.00 17.90
2017-06-30 2,448.30 2,171.20 14.90
2017-03-31 2,448.30 2,171.20 14.90
2016-12-31 2,467.10 2,139.13 187.24
2016-09-30 2,467.10 2,139.13 187.24
2016-06-30 2,398.34 2,257.53 321.37
2016-03-31 2,398.34 2,257.53 321.37
2015-12-31 2,323.06 2,801.97 5.98
2015-09-30 2,323.06 2,801.97 5.98
2015-06-30 2,298.63 2,837.29 8.22
2015-03-31 2,298.63 2,837.29 8.22
2014-12-31 2,317.61 2,614.17 8.06
2014-09-30 2,317.61 2,614.17 8.06
2014-06-30 2,307.79 2,470.70 8.88
2014-03-31 2,307.79 2,470.70 8.88
2013-12-31 2,318.74 2,402.75 14.68
2013-09-30 2,318.74 2,402.75 14.68
2013-06-30 2,258.46 2,546.69 56.16
2013-03-31 2,258.46 2,546.69 56.16
2012-12-31 2,199.43 2,413.78 127.43
2012-09-30 2,199.43 2,413.78 127.43
2012-06-30 2,148.34 2,643.73 81.59
  • Vector's level of debt (102.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (103.7% vs 102.8% today).
  • Debt is not well covered by operating cash flow (14.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Vector'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. Vector has a total score of 1/6, 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 Vector'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
4.37%
Current annual income from Vector dividends. Estimated to be 4.52% next year.
If you bought $2,000 of Vector shares you are expected to receive $87 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?
  • Vector's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.39%).
  • Vector's dividend is above the markets top 25% of dividend payers in United States of America (3.62%).
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
OTCPK:VETT.F 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 5 Analyst Estimates (S&P Global) See Below
United States of America Integrated Utilities Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 3.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

OTCPK:VETT.F Future Dividends Estimate Data
Date (Data in NZ$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.18 1.00
2022-06-30 0.17 1.00
2021-06-30 0.17 5.00
2020-06-30 0.17 5.00
2019-06-30 0.17 5.00
OTCPK:VETT.F Past Annualized Dividends Data
Date (Data in NZ$) Dividend per share (annual) Avg. Yield (%)
2018-08-24 0.163 4.761
2018-02-28 0.165 4.984
2017-08-24 0.160 4.763
2016-08-24 0.158 4.839
2015-08-28 0.155 4.721
2014-08-22 0.153 5.158
2013-08-22 0.150 5.886
2013-03-15 0.148 5.306
2012-08-23 0.145 5.228
2011-08-26 0.143 5.474
2011-07-15 0.143 5.994
2011-02-24 0.143 5.706
2010-08-27 0.140 5.936
2009-08-25 0.138 6.764
2009-04-23 0.135 6.524

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Vector's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.9x coverage).
X
Income/ dividend checks
We assess Vector's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Vector afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vector has a total score of 4/6, 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 Vector'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
Simon MacKenzie
TENURE AS CEO 11.2 years
CEO Bio

Mr. Simon MacKenzie, Grad Dip BS (Dist), Dip Fin, NZCE, has been Group Chief Executive Officer of Vector Limited since February 2008 and served as Group General Manager of Strategy Regulation & Performance since June 14, 2006. Mr. MacKenzie served as the Chief Executive Officer of Vector's Technology Division. He has extensive experience in the energy sector, including network management, regulation, information technology, strategy and the energy market, as well as telecommunications. He also has experience in construction and consultancy environments both in New Zealand and offshore. He has than 15 years of experience in the energy sector, with roles commercial, strategy and operations. Mr. MacKenzie also has experience in consulting and construction in the UK, Europe and Australia and has considerable experience with high level regulatory, industry and government relations. He served as the Chief Operating Officer of Vector Ltd. since June 6, 2007. He served as an Acting Chief Executive Officer of Vector Ltd. until February 2008. He served as Group General Manager of Networks at Vector Ltd. He also served as Head of Information Technology, Business Development, Network Management and Strategy, Regulation, Technology Solutions and Telecommunications at Vector Ltd. He was responsible for Network Management and Strategy, Information Technology, Technology Solutions, Regulation, Telecommunications and Business Development. He served as Deputy Chair of NZ Windfarms Limited until October 25, 2016. He has been a Director of Energy Intellect Ltd. since November 2005. He served as a Director of NZ Windfarms Limited since November 2007 until October 25, 2016. Mr. MacKenzie has completed the Advanced Management Program at the Wharton School, University of Pennsylvania.

CEO Compensation
  • Insufficient data for Simon to compare compensation growth.
  • Insufficient data for Simon to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Vector management team in years:

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

Simon MacKenzie

TITLE
Group Chief Executive Officer
TENURE
11.2 yrs

Richard Llewellyn

TITLE
Head of Corporate Communications

Fiona Michel

TITLE
Chief People Officer
TENURE
0.3 yrs

Richard Sharp

TITLE
Head of Regulatory

Kate Beddoe

TITLE
Chief Risk Officer
TENURE
6.8 yrs

André Botha

TITLE
Chief Networks Officer
TENURE
4.3 yrs

Nikhil Ravishankar

TITLE
Chief Digital Officer
TENURE
2.2 yrs
Board of Directors Tenure

Average tenure of the Vector board of directors in years:

5.9
Average Tenure
  • The tenure for the Vector board of directors is about average.
Board of Directors

Dame Alison Paterson

TITLE
Independent Non-Executive Director
AGE
83
TENURE
0.4 yrs

Karen Sherry

TITLE
Non-Independent Non-Executive Director
TENURE
12.8 yrs

Jonathan Mason

TITLE
Independent Non-Executive Director
AGE
60
TENURE
5.9 yrs

Bob Thomson

TITLE
Independent Non-Executive Director
TENURE
14.1 yrs

Michael Buczkowski

TITLE
Non-Independent Non-Executive Director
TENURE
0.4 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 ($) Value ($)
X
Management checks
We assess Vector'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. Vector 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

Company Info

Description

Vector Limited, together with its subsidiaries, engages in electricity and gas distribution, natural gas and LPG sale, gas processing, metering, and telecommunication and new energy businesses in New Zealand. It operates through three segments: Regulated Networks, Gas Trading, and Technology. The company distributes electricity to residential and commercial customers in Auckland, from Wellsford to Papakura through its network consisting of approximately 18,000 kilometers of overhead lines and underground cables; and gas to residential, commercial, and industrial customers, as well as provides bottled LPG to customers. It also provides Vector solar systems; electricity and gas metering services to approximately 1,000,000 homes and businesses; and designs, builds, and supports fiber network solutions that connect buildings in Auckland. In addition, the company offers electric vehicle app that offers update on the status of rapid chargers, and filters searches for charging stations by port type, type of charger, and availability. The company was incorporated in 1990 and is headquartered in Auckland, New Zealand. Vector Limited is a subsidiary of Entrust.

Details
Name: Vector Limited
VETT.F
Exchange: OTCPK
Founded: 1990
NZ$2,474,422,225
999,867,208
Website: http://www.vector.co.nz
Address: Vector Limited
101 Carlton Gore Road,
Newmarket,
Auckland,
1023,
New Zealand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NZSE VCT Ordinary Shares New Zealand Stock Exchange NZ NZD 15. Aug 2005
OTCPK VETT.F Ordinary Shares Pink Sheets LLC US USD 15. Aug 2005
Number of employees
Current staff
Staff numbers
0
Vector employees.
Industry
Multi-Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 00:10
End of day share price update: 2019/03/25 00:00
Last estimates confirmation: 2019/04/08
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.