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Vocus Group

ASX:VOC
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VOC
ASX
A$2B
Market Cap
  1. Home
  2. AU
  3. Telecom
Company description

Vocus Group Limited provides integrated telecommunications services in Australia and New Zealand. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
  • Vocus Group has significant price volatility in the past 3 months.
VOC Share Price and Events
7 Day Returns
19%
ASX:VOC
1.3%
AU Telecom
1.1%
AU Market
1 Year Returns
-30.7%
ASX:VOC
-3.8%
AU Telecom
-18.9%
AU Market
VOC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vocus Group (VOC) 19% -24.2% -13.4% -30.7% -34.1% -58.4%
AU Telecom 1.3% -9.7% -10.1% -3.8% -27.5% -46.7%
AU Market 1.1% -20.8% -25% -18.9% -16% -16.4%
1 Year Return vs Industry and Market
  • VOC underperformed the Telecom industry which returned -3.8% over the past year.
  • VOC underperformed the Market in Australia which returned -18.9% over the past year.
Price Volatility
VOC
Industry
5yr Volatility vs Market

Value

 Is Vocus Group 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 Vocus Group 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 Vocus Group.

ASX:VOC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.4%
Perpetual Growth Rate 10-Year AU Government Bond Rate 1.1%

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 ASX:VOC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 1.1%
Equity Risk Premium S&P Global 5.4%
Telecom Unlevered Beta Simply Wall St/ S&P Global 0.36
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.356 (1 + (1- 30%) (78.77%))
0.7
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)
= 1.08% + (0.8 * 5.44%)
5.43%

Discounted Cash Flow Calculation for ASX:VOC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Vocus Group 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ASX:VOC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 5.43%)
2020 73.65 Analyst x2 69.86
2021 117.50 Analyst x2 105.70
2022 112.10 Analyst x1 95.65
2023 139.60 Analyst x1 112.98
2024 157.05 Est @ 12.5% 120.55
2025 171.30 Est @ 9.07% 124.72
2026 182.74 Est @ 6.68% 126.19
2027 191.87 Est @ 5% 125.67
2028 199.20 Est @ 3.82% 123.75
2029 205.18 Est @ 3% 120.89
Present value of next 10 years cash flows A$1,125.00
ASX:VOC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$205.18 × (1 + 1.08%) ÷ (5.43% – 1.08%)
A$4,765.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$4,765.44 ÷ (1 + 5.43%)10
A$2,807.88
ASX:VOC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,125.00 + A$2,807.88
A$3,932.88
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$3,932.88 / 620.24
A$6.34
ASX:VOC Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$6.34
Current discount Discount to share price of A$2.51
= -1 x (A$2.51 - A$6.34) / A$6.34
60.4%

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

Current Discount
Amount off the current price Vocus Group is available for.
Intrinsic value
>50%
Share price is A$2.51 vs Future cash flow value of A$6.34
Current Discount Checks
For Vocus Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vocus Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vocus Group'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 Vocus Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vocus Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:VOC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$0.05
ASX:VOC Share Price ** ASX (2020-04-03) in AUD A$2.51
Australia Telecom Industry PE Ratio Median Figure of 6 Publicly-Listed Telecom Companies 26.88x
Australia Market PE Ratio Median Figure of 515 Publicly-Listed Companies 13.28x

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

** Primary Listing of Vocus Group.

ASX:VOC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:VOC Share Price ÷ EPS (both in AUD)

= 2.51 ÷ 0.05

51.45x

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

  • Vocus Group is overvalued based on earnings compared to the AU Telecom industry average.
  • Vocus Group is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does Vocus Group's expected growth come at a high price?
Raw Data
ASX:VOC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 51.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
41.7%per year
Australia Telecom Industry PEG Ratio Median Figure of 6 Publicly-Listed Telecom Companies 1.28x
Australia Market PEG Ratio Median Figure of 337 Publicly-Listed Companies 1.04x

*Line of best fit is calculated by linear regression .

ASX:VOC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 51.45x ÷ 41.7%

1.23x

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

  • Vocus Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Vocus Group's assets?
Raw Data
ASX:VOC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$3.83
ASX:VOC Share Price * ASX (2020-04-03) in AUD A$2.51
Australia Telecom Industry PB Ratio Median Figure of 14 Publicly-Listed Telecom Companies 2.02x
Australia Market PB Ratio Median Figure of 1,614 Publicly-Listed Companies 1.23x
ASX:VOC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:VOC Share Price ÷ Book Value per Share (both in AUD)

= 2.51 ÷ 3.83

0.65x

* Primary Listing of Vocus Group.

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

  • Vocus Group is good value based on assets compared to the AU Telecom industry average.
X
Value checks
We assess Vocus Group'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 Telecom 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 Telecom industry average (and greater than 0)? (1 check)
  5. Vocus Group 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 Vocus Group expected to perform in the next 1 to 3 years based on estimates from 12 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
41.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vocus Group expected to grow at an attractive rate?
  • Vocus Group's earnings growth is expected to exceed the low risk savings rate of 1.1%.
Growth vs Market Checks
  • Vocus Group's earnings growth is expected to exceed the Australia market average.
  • Vocus Group's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:VOC Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:VOC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 41.7%
ASX:VOC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 2.1%
Australia Telecom Industry Earnings Growth Rate Market Cap Weighted Average -0.1%
Australia Telecom Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
Australia Market Earnings Growth Rate Market Cap Weighted Average 10.1%
Australia Market Revenue Growth Rate Market Cap Weighted Average 4%

*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
ASX:VOC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:VOC Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-06-30
2023-06-30 1,931 348 162 1
2022-06-30 1,876 301 114 10
2021-06-30 1,826 285 80 12
2020-06-30 1,793 264 45 12
2020-04-03
ASX:VOC Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,825 287 30
2019-09-30 1,859 292 32
2019-06-30 1,892 297 34
2019-03-31 1,887 300 37
2018-12-31 1,887 303 40
2018-09-30 1,886 278 51
2018-06-30 1,885 252 61
2018-03-31 1,893 194 -707
2017-12-31 1,902 136 -1,475
2017-09-30 1,861 134 -1,470
2017-06-30 1,821 131 -1,465
2017-03-31 1,680 120 -689

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vocus Group's earnings are expected to grow significantly at over 20% yearly.
  • Vocus Group's revenue is expected to grow by 2.1% 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
ASX:VOC 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 12 Analyst Estimates (S&P Global) See Below

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

ASX:VOC Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-06-30
2023-06-30 0.25 0.25 0.25 1.00
2022-06-30 0.16 0.21 0.09 5.00
2021-06-30 0.12 0.15 0.08 7.00
2020-06-30 0.09 0.17 0.06 7.00
2020-04-03
ASX:VOC Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 0.05
2019-09-30 0.05
2019-06-30 0.05
2019-03-31 0.06
2018-12-31 0.06
2018-09-30 0.08
2018-06-30 0.10
2018-03-31 -1.14
2017-12-31 -2.37
2017-09-30 -2.37
2017-06-30 -2.38
2017-03-31 -1.20

*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.
  • Vocus Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Vocus Group'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 Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia 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.
Vocus Group has a total score of 3/6, 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 Vocus Group 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 Vocus Group's growth in the last year to its industry (Telecom).
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.
  • Vocus Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Vocus Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Vocus Group's 1-year earnings growth is negative, it can't be compared to the AU Telecom industry average.
Earnings and Revenue History
Vocus Group'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 Vocus Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:VOC Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,825.16 30.35 185.33
2019-09-30 1,858.73 32.18 195.99
2019-06-30 1,892.30 34.01 206.65
2019-03-31 1,886.82 37.12 212.56
2018-12-31 1,886.52 40.23 218.47
2018-09-30 1,885.63 50.64 220.03
2018-06-30 1,884.74 61.05 221.60
2018-03-31 1,893.36 -706.85 221.57
2017-12-31 1,901.97 -1,474.74 221.53
2017-09-30 1,861.27 -1,469.80 211.46
2017-06-30 1,820.58 -1,464.87 201.39
2017-03-31 1,680.06 -688.90 179.62
2016-12-31 1,539.54 87.06 157.84
2016-09-30 1,184.74 75.58 114.80
2016-06-30 829.95 64.09 71.76
2016-03-31 546.64 40.97 43.22
2015-12-31 263.33 17.85 14.68
2015-09-30 206.57 18.85 11.09
2015-06-30 149.80 19.85 7.50
2015-03-31 130.27 26.93 7.00
2014-12-31 110.75 34.02 6.50
2014-09-30 101.52 23.47 6.65
2014-06-30 92.30 12.93 6.79
2014-03-31 86.45 9.48 6.51
2013-12-31 80.59 6.04 6.23
2013-09-30 73.75 5.57 5.69
2013-06-30 66.91 5.10 5.15

*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.
  • Vocus Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vocus Group used its assets less efficiently than the AU Telecom industry average last year based on Return on Assets.
  • Vocus Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Vocus Group'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 Telecom 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.
Vocus Group has a total score of 0/6, 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 Vocus Group'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 Vocus Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vocus Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Vocus Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Vocus Group'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 0.3x 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 Vocus Group Company Filings, last reported 3 months ago.

ASX:VOC Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,377.25 1,095.25 89.29
2019-09-30 2,377.25 1,095.25 89.29
2019-06-30 2,368.01 1,118.29 87.20
2019-03-31 2,368.01 1,118.29 87.20
2018-12-31 2,351.31 1,130.10 56.40
2018-09-30 2,351.31 1,130.10 56.40
2018-06-30 2,353.74 1,046.66 57.91
2018-03-31 2,353.74 1,046.66 57.91
2017-12-31 2,323.07 1,083.27 49.93
2017-09-30 2,323.07 1,083.27 49.93
2017-06-30 2,303.12 1,060.61 50.19
2017-03-31 2,303.12 1,060.61 50.19
2016-12-31 3,833.47 1,097.26 131.53
2016-09-30 3,833.47 1,097.26 131.53
2016-06-30 3,174.29 867.65 128.63
2016-03-31 3,174.29 867.65 128.63
2015-12-31 906.67 203.99 28.40
2015-09-30 906.67 203.99 28.40
2015-06-30 196.24 106.24 15.17
2015-03-31 196.24 106.24 15.17
2014-12-31 211.25 104.07 39.10
2014-09-30 211.25 104.07 39.10
2014-06-30 137.12 47.09 44.56
2014-03-31 137.12 47.09 44.56
2013-12-31 81.36 62.54 7.70
2013-09-30 81.36 62.54 7.70
2013-06-30 71.07 68.72 14.17
  • Vocus Group's level of debt (46.1%) 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 (49.3% vs 46.1% today).
  • Debt is well covered by operating cash flow (26.2%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Vocus Group'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. Vocus Group has a total score of 2/6, 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 Vocus Group'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
0%
Current annual income from Vocus Group dividends. Estimated to be 0.87% next year.
If you bought A$2,000 of Vocus Group shares you are expected to receive A$0 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?
  • Unable to evaluate Vocus Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Vocus Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
ASX:VOC 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 12 Analyst Estimates (S&P Global) See Below
Australia Telecom Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 4.4%
Australia Market Average Dividend Yield Market Cap Weighted Average of 370 Stocks 5.5%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.7%
Australia Bottom 25% Dividend Yield 25th Percentile 3.2%
Australia Top 25% Dividend Yield 75th Percentile 8%

Industry and Market average data is calculated daily.

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

ASX:VOC Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2024-06-30
2023-06-30 0.11 1.00
2022-06-30 0.06 9.00
2021-06-30 0.00 9.00
2020-06-30 0.00 9.00
2020-04-03
ASX:VOC Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2018-08-21 0.000 0.000
2018-02-19 0.000 0.000
2017-08-22 0.000 0.000
2017-02-21 0.140 4.107
2016-08-23 0.179 3.558
2016-02-25 0.171 1.990
2015-05-27 0.040 0.623
2015-02-19 0.024 0.405
2014-08-27 0.020 0.346
2013-08-28 0.012 0.332
2013-02-27 0.008 0.392

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

  • Unable to perform a dividend volatility check as Vocus Group has not reported any payouts.
  • Unable to verify if Vocus Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Vocus Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Vocus Group has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Vocus Group's dividends in 3 years as they are not expected to pay a notable one for Australia.
X
Income/ dividend checks
We assess Vocus Group'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 Vocus Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vocus Group has a total score of 0/6, 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 Vocus Group'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
Kevin Russell
COMPENSATION A$3,228,903
AGE 52
TENURE AS CEO 1.9 years
CEO Bio

Mr. Kevin Steven Russell, B Acc/CompSc, MICAS, has been Group Managing Director, Chief Executive Officer and Director of Vocus Group Ltd since May 28, 2018. Mr. Russell served as Group Executive of Consumer & Small Business at Telstra Corporation Limited from April 26, 2016 to September 4, 2017. Mr. Russell served as the Chief Executive Officer of Consumer Australia at SingTel Optus Pty Ltd. from April 2012 to March 31, 2014 and served as its Chief Country Officer until March 31, 2014. He served as the Chief Operating Officer for Australia at Optus, Inc. since January 2012. He was responsible for the day to day operations of the mass market segments of Optus' business as well as the Wholesale and Satellite division. He served as Chief Operating Officer at SingTel Optus Pty Ltd. since January 20, 2012. As such he was responsible for the Optus Consumer, Optus Small and Medium Business and the Optus Wholesale and Satellite businesses as well as Optus’ wholly owned subsidiary, Virgin Mobile. He spent the last five years in the United Kingdom as Chief Operating Officer and subsequently Chief Executive Officer at Hutchison Three UK, where he was responsible for leading the turnaround of the business. Mr. Russell served as the Chief Executive Officer of Hutchison 3G UK Holdings Limited until June 6, 2011. Mr. Russell joined 3 in the UK in January 2007 as Deputy-Chief Executive Officer. He worked at Hutchison Telecommunications (Australia). He served as Non-Executive Director of Cycling Australia. He served as the Chief Executive Officer of Hutchison Telecommunications Australia Ltd., from September 2001 to January 2007. Prior to taking up this position, Mr. Russell spent sixteen years working for the Hutchison Whampoa Group in a variety of senior leadership roles. He joined Hutchison Telecommunications in Hong Kong in 1995 as Group Finance Manager and in 1996 was promoted to Director of Finance and Operations. Mr. Russell's strategic nous and attention to detail drives Hutchison Telecommunications Australia Ltd. He has substantial international telecommunications experience, having held financial and operational leadership positions with Hutchison Telecoms in Asia and the Middle East. Prior to joining Hutchison, he served as the Chief Financial Officer of Partner Communications in Israel and Director of Finance for Hutchison Telecom International. He has been a Director of SingTel Optus Pty Ltd since May 27, 2013. He serves at Partner Communications Company Ltd. He served as a Director of Optus Finance Pty since May 27, 2013. He served as a Director of Hutchison Telecommunications Australia Ltd., from October 19, 2007 to June 09, 2009. He is a member of the Institute of Chartered Accountants of Scotland. Mr. Russell has a Bachelor of Arts in Accountancy & Computer Science from Heriot Watt University in Edinburgh, Scotland.

CEO Compensation
  • Kevin's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Kevin's remuneration is higher than average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the Vocus Group management team in years:

1.3
Average Tenure
  • The average tenure for the Vocus Group management team is less than 2 years, this suggests a new team.
Management Team

Kevin Russell

TITLE
Group MD
COMPENSATION
A$3M
AGE
52
TENURE
1.9 yrs

Ellie Sweeney

TITLE
Chief Operating Officer
COMPENSATION
A$815K
TENURE
1.1 yrs

Mark Callander

TITLE
CEO of New Zealand
COMPENSATION
A$2M

Antony De Jong

TITLE
Chief Executive of Business & Consumer
COMPENSATION
A$1M

Andrew Wildblood

TITLE
Chief Executive of Enterprise & Government
COMPENSATION
A$1M
TENURE
1.3 yrs

Nitesh Naidoo

TITLE
Group Chief Financial Officer
TENURE
0.3 yrs

Simon Lewin

TITLE
General Counsel & Company Secretary
TENURE
1.3 yrs

Amber Kristof

TITLE
Head of People & Culture
Board of Directors Tenure

Average tenure and age of the Vocus Group board of directors in years:

1.9
Average Tenure
59
Average Age
  • The average tenure for the Vocus Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Bob Mansfield

TITLE
Non-Executive Chairman
COMPENSATION
A$375K
AGE
67
TENURE
2.1 yrs

Kevin Russell

TITLE
Group MD
COMPENSATION
A$3M
AGE
52
TENURE
1.9 yrs

Mark Callander

TITLE
CEO of New Zealand
COMPENSATION
A$2M
TENURE
1.9 yrs

David Wiadrowski

TITLE
Non-Executive Director
COMPENSATION
A$199K
TENURE
2.8 yrs

Julie Fahey

TITLE
Non Executive Director
COMPENSATION
A$189K
AGE
62
TENURE
2.2 yrs

John Ho

TITLE
Non-Executive Director
AGE
43
TENURE
2.3 yrs

Bruce Akhurst

TITLE
Non-Executive Director
COMPENSATION
A$129K
AGE
59
TENURE
1.6 yrs

Matt Hanning

TITLE
Non-Executive Director
COMPENSATION
A$135K
TENURE
1.6 yrs

Zheng Chua

TITLE
Alternate Director
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Vocus Group individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
30. Mar 20 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 25. Mar 20 25. Mar 20 25 A$2.28 A$57
30. Mar 20 Buy Argyle Street Management Limited Company 27. Nov 19 26. Mar 20 5,030,433 A$2.97 A$14,948,408
30. Mar 20 Buy Goldman Sachs Asset Management, L.P. Company 04. Dec 19 04. Mar 20 2,846 A$3.04 A$8,639
25. Mar 20 Sell Challenger Limited Company 31. Dec 19 11. Mar 20 -3,736,655 A$3.14 A$-11,729,415
25. Mar 20 Buy Challenger Limited Company 19. Dec 19 23. Mar 20 9,444,674 A$2.60 A$24,578,268
23. Mar 20 Sell Greencape Capital Pty Ltd Company 31. Dec 19 11. Mar 20 -3,180,554 A$3.24 A$-10,304,527
23. Mar 20 Buy Greencape Capital Pty Ltd Company 19. Dec 19 19. Mar 20 6,590,846 A$2.73 A$17,981,326
23. Mar 20 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 06. May 19 17. Feb 20 -767,020 A$3.07 A$-2,355,143
23. Mar 20 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 07. May 19 09. Oct 19 656,533 A$3.04 A$1,993,288
23. Mar 20 Sell Argyle Street Management Limited Company 06. May 19 19. Mar 20 -14,614,635 A$3.34 A$-48,759,763
23. Mar 20 Buy Argyle Street Management Limited Company 06. May 19 19. Mar 20 12,639,409 A$3.40 A$42,978,958
23. Mar 20 Sell Goldman Sachs Asset Management, L.P. Company 21. May 19 03. Jan 20 -119,790 A$2.77 A$-331,387
23. Mar 20 Buy Goldman Sachs Asset Management, L.P. Company 07. May 19 04. Mar 20 30,089 A$2.74 A$82,570
10. Jan 20 Buy Kevin Russell Individual 09. Jan 20 09. Jan 20 200,000 A$2.97 A$594,399
30. Dec 19 Buy David Wiadrowski Individual 24. Dec 19 24. Dec 19 4,000 A$2.98 A$11,940
20. Dec 19 Sell Greencape Capital Pty Ltd Company 29. Nov 19 29. Nov 19 -10,600 A$3.23 A$-34,185
20. Dec 19 Buy Greencape Capital Pty Ltd Company 28. Nov 19 18. Dec 19 5,370,405 A$2.98 A$15,987,076
29. Nov 19 Sell Greencape Capital Pty Ltd Company 04. Oct 19 04. Nov 19 -3,573,635 A$3.98 A$-14,207,483
29. Nov 19 Buy Greencape Capital Pty Ltd Company 22. Oct 19 27. Nov 19 10,254,347 A$3.21 A$32,903,071
10. Nov 19 Buy Julie Fahey Individual 07. Nov 19 07. Nov 19 7,510 A$3.33 A$25,017
08. Oct 19 Buy Challenger Limited Company 05. Jun 19 30. Sep 19 9,561,660 A$3.22 A$30,774,527
04. Sep 19 Buy Robert Mansfield Individual 03. Sep 19 03. Sep 19 47,000 A$3.20 A$150,262
09. Aug 19 Buy Yarra Funds Management Limited Company 09. Apr 19 07. Aug 19 5,366,503 A$3.21 A$17,250,508
27. Jun 19 Sell Janchor Partners Ltd. Company 02. Jan 19 24. Jun 19 -2,087,373 A$3.20 A$-6,553,735
27. Jun 19 Buy Janchor Partners Ltd. Company 02. Jan 19 24. Jun 19 2,087,373 A$3.20 A$6,553,735
18. Jun 19 Buy Matthew Hanning Individual 17. Jun 19 17. Jun 19 59,000 A$3.06 A$180,643
29. May 19 Sell Greencape Capital Pty Ltd Company 15. Oct 18 27. May 19 -15,492,333 A$3.94 A$-60,967,949
29. May 19 Buy Greencape Capital Pty Ltd Company 15. Oct 18 15. Apr 19 6,981,322 A$3.09 A$21,557,729
20. May 19 Sell Dimensional Fund Advisors L.P. Company 18. Mar 19 07. May 19 -295,541 A$3.90 A$-1,059,551
20. May 19 Buy Dimensional Fund Advisors L.P. Company 17. Jan 19 17. May 19 4,338,892 A$4.00 A$15,559,839
06. May 19 Sell Goldman Sachs Group, Investment Banking and Securities Investments Company 22. Mar 19 02. May 19 -205,795 A$3.85 A$-747,683
06. May 19 Buy Goldman Sachs Group, Investment Banking and Securities Investments Company 22. Mar 19 02. May 19 86,573 A$3.83 A$320,610
06. May 19 Sell Argyle Street Management Limited Company 22. Mar 19 02. May 19 -117,377,077 A$3.78 A$-443,726,670
06. May 19 Buy Argyle Street Management Limited Company 22. Mar 19 02. May 19 117,885,047 A$3.78 A$445,722,581
06. May 19 Buy Goldman Sachs Asset Management, L.P. Company 22. Mar 19 05. Apr 19 3,971 A$3.56 A$14,122
18. Apr 19 Sell Yarra Funds Management Limited Company 12. Jan 19 16. Apr 19 -6,868,637 A$3.53 A$-24,262,133
18. Apr 19 Buy Yarra Funds Management Limited Company 12. Jan 19 16. Apr 19 784,925 A$3.52 A$2,766,370
X
Management checks
We assess Vocus Group'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. Vocus Group 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

Is Vocus Group Limited's (ASX:VOC) 2.6% ROE Worse Than Average?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Vocus Group has a return on equity of 2.6% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Vocus Group Limited (ASX:VOC): Why Return On Capital Employed Is Important

and want a simplistic look at the return on Vocus Group Limited (ASX:VOC) stock. … Therefore, looking at how efficiently Vocus Group is able to use capital to create earnings will help us understand your potential return. … Vocus Group's Return On Capital Employed

Simply Wall St -

Who Are The Major Shareholders Of Vocus Group Limited (ASX:VOC)?

In this article, I will take a quick look at Vocus Group Limited’s (ASX:VOC) recent ownership structure – an unconventional investing subject, but an important one. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders. … Therefore, it is beneficial for us to examine VOC's ownership structure in more detail.

Simply Wall St -

Is Vocus Group Limited's (ASX:VOC) Balance Sheet A Threat To Its Future?

Vocus Group Limited (ASX:VOC) is a small-cap stock with a market capitalization of AU$1.48b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes

Simply Wall St -

An Intrinsic Calculation For Vocus Group Limited (ASX:VOC) Shows It's 45.28% Undervalued

Today I will be providing a simple run through of a valuation method used to estimate the attractiveness of Vocus Group Limited (ASX:VOC) as an investment opportunity. … by taking the foreast future cash flows of the company and discounting them back to today's value. … Discounted Cash Flows (DCF).

Simply Wall St -

Should You Buy Vocus Group Limited (ASX:VOC) When Insiders Do?

large-cap stocks … It is widely considered that insider buying stock in their own companies is potentially a bullish signal … The MIT Press (1998) published an article showing that stocks following insider buying outperformed the market by 4.5%.

Simply Wall St -

Why Vocus Group Limited (ASX:VOC) Could Be A Buy

Vocus Group Limited (ASX:VOC), a telecom company based in Australia,. … Let’s take a look at Vocus Group’s outlook and value based on the most recent financial data to see if the opportunity still exists? … Great news for investors – Vocus Group is still trading at a fairly cheap price.

Simply Wall St -

Should You Be Concerned About Vocus Group Limited's (ASX:VOC) Investors?

This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Private Company Ownership Potential investors in VOC should also look at another important group of investors: private companies, with a stake of 1.26%, who are primarily invested because of strategic and capital gain interests.

Simply Wall St -

What Does Vocus Group Limited's (ASX:VOC) Share Price Indicate?

Vocus Group Limited (ASX:VOC), a telecom company based in Australia, saw a decent share price growth in the teens level on the ASX over the last few months. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … If you are no longer interested in Vocus Group, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

Vocus Group Limited (ASX:VOC) Is Trading At A 47% Discount

Today I will be providing a simple run through of a valuation method used to estimate the attractiveness of Vocus Group Limited (ASX:VOC) as an investment opportunity by taking the expected future cash flows and discounting them to their present value. … 5-year cash flow estimate 2018 2019 2020 2021 2022 Levered FCF (A$, Millions) A$6.33 A$-18.50 A$150.00 A$175.50 A$203.58 Source Analyst x3 Analyst x2 Analyst x2 Extrapolated @ (17%, capped from 68.68%) Extrapolated @ (16%, capped from 68.68%) Present Value Discounted @ 8.55% A$5.83 A$-15.70 A$117.27 A$126.39 A$135.07 Present Value of 5-year Cash Flow (PVCF)= A$369 We now need to calculate the Terminal Value, which accounts for all the future cash flows after the five years. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = A$204 × (1 + 2.8%) ÷ (8.6% – 2.8%) = A$3,612 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = A$3,612 / ( 1 + 8.6%)5 = A$2,396 The total value, or equity value, is then the sum of the present value of the cash flows, which in this case is A$2,765.

Simply Wall St -

Company Info

Description

Vocus Group Limited provides integrated telecommunications services in Australia and New Zealand. It offers fiber optic cable network services under the VOCUS communications brand; business communication and technology solutions under the commander brand; IP voice solutions under the engin brand; and Internet, mobile, and energy products under the dodo brand. The company also provides broadband solutions under the iPRIMUS, slingshot, flip, and Orcon brands; and VoIP solution for small businesses and wholesale customers under the 2talk brand. The company was formerly known as Vocus Communications Limited and changed its name to Vocus Group Limited in December 2016. Vocus Group Limited was incorporated in 2008 and is based in Melbourne, Australia.

Details
Name: Vocus Group Limited
VOC
Exchange: ASX
Founded: 2008
A$1,612,627,049
620,241,173
Website: http://vocusgroup.com.au
Address: Vocus Group Limited
452 Flinders Street,
Level 10,
Melbourne,
Victoria, 3000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX VOC Ordinary Shares Australian Securities Exchange AU AUD 08. Jul 2010
OTCPK VCMM.F Ordinary Shares Pink Sheets LLC US USD 08. Jul 2010
DB VOQ Ordinary Shares Deutsche Boerse AG DE EUR 08. Jul 2010
CHIA VOC Ordinary Shares Chi-X Australia AU AUD 08. Jul 2010
Number of employees
Current staff
Staff numbers
1,965
Vocus Group employees.
Industry
Integrated Telecommunication Services
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 10:45
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/02/18
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/06/30


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.