Wednesday, February 8, 2017

Vicom(V01)

Draft: 2/8/2017 (Market size: 503.5m, 88,642,000 shares)

Updated: 2/9/2017

Info based on 2016 FR.

Rev: 101m (drop 5.2%)
Op: 32m(drop 11%)
Profit to shareholder: 28.1m (-10%)
CFO: 39m

Total asset: 180m
Liabilities: 28.8m
EBITDA: 38.9m

ROE: 18% (2006-2015: 17~22%)

Dividend: 18.5c=final: 8.5c, special 10c.(2015: 9.5+10.25c)
EPS: 31.77c(2015: 35.45c)
Payout ratio:  58.2% (2015: 55.7%)
At today's price (2/8/2017) 5.69, yield: 3.25%



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With revenue goes side line, the yield not attractive, and staff cost increases(or at least under pressure) every year, where is the rosy story for this counter?



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