Cash flow Victorian Plumbing Group plc

Equities

VIC

GB00BNVVHD43

Home Furnishings

Market Closed - London S.E. Other stock markets 16:35:25 12/02/2026 GMT			5-day change	1st Jan Change
84.60 ^GBX	-3.64%		-1.63%	+15.89%

12-04	UBS cuts Diageo; Goldman Sachs cuts NatWest	AN
12-03	EARNINGS: Victorian Plumbing boosts dividend; SDI profit leaps 47%	AN

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Published financial data: VICTORIAN PLUMBING GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2021	2022	2023	2024	2025
Revenues	269M	269M	285M	296M	310M
Total Revenues	269M	269M	285M	296M	310M
Cost of Goods Sold, Total	138M	148M	150M	148M	157M
Gross Profit	130M	121M	135M	148M	153M
Selling General & Admin Expenses, Total	101M	109M	118M	124M	123M
Depreciation & Amortization - (IS)	-	-	-	1.6M	4.9M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	3.1M	2.9M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	101M	109M	118M	128M	131M
Operating Income	29.4M	12.1M	16.1M	19.4M	22.6M
Interest Expense, Total	-300K	-300K	-300K	-400K	-2.9M
Interest And Investment Income	-	-	600K	1M	700K
Net Interest Expenses	-300K	-300K	300K	600K	-2.2M
Currency Exchange Gains (Loss)	-	-	-	-	-
EBT, Excl. Unusual Items	29.1M	11.8M	16.4M	20M	20.4M
Restructuring Charges	-	-	-	-10.4M	-5.1M
Merger & Related Restructuring Charges	-	-	-	-600K	-200K
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Other Unusual Items	-9.4M	-	-800K	-	-
EBT, Incl. Unusual Items	19.7M	11.8M	15.6M	9M	15.1M
Income Tax Expense	5.4M	2.6M	3.8M	3.5M	2.2M
Earnings From Continuing Operations	14.3M	9.2M	11.8M	5.5M	12.9M
Earnings Of Discontinued Operations	-	-	-	-	900K
Net Income to Company	14.3M	9.2M	11.8M	5.5M	13.8M
Net Income - (IS)	14.3M	9.2M	11.8M	5.5M	13.8M
Net Income to Common Incl Extra Items	14.3M	9.2M	11.8M	5.5M	13.8M
Net Income to Common Excl. Extra Items	14.3M	9.2M	11.8M	5.5M	12.9M
Per Share Items
Net EPS - Basic	0.05	0.03	0.04	0.02	0.04
Basic EPS - Continuing Operations	0.05	0.03	0.04	0.02	0.04
Basic Weighted Average Shares Outstanding	268M	276M	285M	302M	314M
Net EPS - Diluted	0.04	0.03	0.04	0.02	0.04
Diluted EPS - Continuing Operations	0.04	0.03	0.04	0.02	0.04
Diluted Weighted Average Shares Outstanding	316M	316M	317M	327M	331M
Normalized Basic EPS	0.07	0.03	0.04	0.04	0.04
Normalized Diluted EPS	0.06	0.02	0.03	0.04	0.04
Dividend Per Share	-	0.01	0.01	0.02	0.02
Payout Ratio	104.2	-	43.22	87.27	42.03
Supplemental Items
EBITDA	30M	12.7M	16.7M	19.9M	30.4M
EBITA	29.4M	12.1M	16.1M	19.4M	22.6M
EBIT	29.4M	12.1M	16.1M	19.4M	22.6M
EBITDAR	30.6M	13.3M	17.3M	20.6M	31.8M
Effective Tax Rate - (Ratio)	27.41	22.03	24.36	38.89	14.57
Current Domestic Taxes	5.4M	2.8M	3.6M	600K	3.4M
Total Current Taxes	5.4M	2.8M	3.6M	600K	3.4M
Deferred Domestic Taxes	-	-200K	200K	2.9M	-1.2M
Total Deferred Taxes	-	-200K	200K	2.9M	-1.2M
Normalized Net Income	18.19M	7.38M	10.25M	12.5M	12.75M
Interest on Long-Term Debt	300K	300K	300K	3.2M	3.6M
Supplemental Operating Expense Items
Marketing Expenses	69.7M	76.2M	79.2M	85.4M	84.6M
Selling and Marketing Expenses	69.7M	76.2M	79.2M	85.4M	84.6M
General and Administrative Expenses	31.4M	32.7M	39.3M	15.3M	13M
Net Rental Expense, Total	600K	600K	600K	700K	1.4M
Imputed Operating Lease Interest Expense	236K	267K	294K	88.02K	668K
Imputed Operating Lease Depreciation	364K	333K	306K	612K	732K
Stock-Based Comp., G&A Exp. (Total)	7.7M	3.9M	3.9M	3.1M	1.4M
Total Stock-Based Compensation	7.7M	3.9M	3.9M	3.1M	1.4M

Fiscal Period: September	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	32.7M	45.5M	46.4M	11.2M	17.7M
Total Cash And Short Term Investments	32.7M	45.5M	46.4M	11.2M	17.7M
Accounts Receivable, Total	2.3M	2M	2.2M	3.8M	4.6M
Other Receivables	1.9M	1.3M	600K	1.2M	1.2M
Total Receivables	4.2M	3.3M	2.8M	5M	5.8M
Inventory	32.4M	33.9M	34.2M	43.7M	45.6M
Prepaid Expenses	1.4M	1.5M	900K	1.6M	1.4M
Other Current Assets, Total	300K	300K	1.1M	300K	300K
Total Current Assets	71M	84.5M	85.4M	61.8M	70.8M
Gross Property Plant And Equipment	12.3M	12.1M	16M	83.5M	89.8M
Accumulated Depreciation	-5.3M	-6.2M	-6.8M	-10.3M	-15.7M
Net Property Plant And Equipment	7M	5.9M	9.2M	73.2M	74.1M
Goodwill	-	-	-	18.8M	18.8M
Other Intangibles, Total	2.7M	3.3M	4M	4.7M	4.7M
Deferred Tax Assets Long-Term	-	100K	-	-	-
Other Long-Term Assets, Total	-	700K	400K	-	-
Total Assets	80.7M	94.5M	99M	158M	168M
Liabilities
Accounts Payable, Total	23.5M	26.2M	23.9M	24.7M	22.6M
Accrued Expenses, Total	10.4M	9.7M	11.9M	17.2M	19.7M
Current Portion of Leases	900K	900K	1M	3.1M	3.6M
Current Income Taxes Payable	-	300K	1.8M	200K	1.1M
Unearned Revenue Current, Total	7.9M	7.1M	5.4M	9.5M	6.8M
Other Current Liabilities	2.2M	2.2M	2.4M	3.3M	2.9M
Total Current Liabilities	44.9M	46.4M	46.4M	58M	56.7M
Long-Term Leases	4.9M	4.1M	3.8M	43M	47.5M
Deferred Tax Liability Non Current	100K	-	-	2.8M	1.6M
Other Non Current Liabilities	-	-	-	2.4M	2M
Total Liabilities	49.9M	50.5M	50.2M	106M	108M
Common Stock, Total	300K	300K	300K	300K	300K
Additional Paid In Capital	11.2M	11.2M	11.2M	11.2M	11.2M
Retained Earnings	340M	353M	358M	361M	370M
Comprehensive Income and Other	-320M	-320M	-320M	-320M	-320M
Total Common Equity	30.8M	44M	48.8M	52.3M	60.6M
Total Equity	30.8M	44M	48.8M	52.3M	60.6M
Total Liabilities And Equity	80.7M	94.5M	99M	158M	168M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	325M	324M	325M	326M	327M
ECS Total Common Shares Outstanding	325M	324M	325M	326M	327M
Book Value / Share	0.09	0.14	0.15	0.16	0.19
Tangible Book Value	28.1M	40.7M	44.8M	28.8M	37.1M
Tangible Book Value Per Share	0.09	0.13	0.14	0.09	0.11
Total Debt	5.8M	5M	4.8M	46.1M	51.1M
Net Debt	-26.9M	-40.5M	-41.6M	34.9M	33.4M
Debt Equivalent Oper. Leases	4.8M	4.8M	4.8M	5.6M	11.2M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	100K	100K	100K	100K	200K
Inventories - Finished Goods, Total	32.3M	33.8M	34.1M	43.6M	45.4M
Machinery, Total	4M	3.7M	3M	3M	14.3M
Full Time Employees	500	567	636	715	708

Fiscal Period: September	2021	2022	2023	2024	2025
Net Income	14.3M	9.2M	11.8M	5.5M	13.8M
Depreciation & Amortization - CF	1.5M	1.5M	1.5M	3.8M	7.8M
Depreciation & Amortization, Total	1.5M	1.5M	1.5M	3.8M	7.8M
Amortization of Deferred Charges, Total - (CF)	1.6M	2M	2.3M	3.1M	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Stock-Based Compensation (CF)	7.7M	3.9M	3.9M	2.9M	1.2M
Net Cash From Discontinued Operations	-	-	-	-	-9.1M
Other Operating Activities, Total	2.3M	800K	2.5M	7.8M	5.3M
Change In Accounts Receivable	-800K	-200K	-300K	-1.1M	1.4M
Change In Inventories	-9.4M	-1.5M	-300K	-500K	-3.4M
Change In Accounts Payable	7.3M	1.1M	-3.7M	-4.1M	5M
Change in Other Net Operating Assets	-100K	100K	-	-	-
Cash from Operations	24.4M	16.9M	17.7M	17.4M	22M
Capital Expenditure	-1.4M	-300K	-2M	-21M	-1.4M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-	-	-19.1M	-
Sale (Purchase) of Intangible assets	-1.8M	-2.6M	-3M	-3.8M	-4M
Other Investing Activities, Total	5.9M	-	-	-	-
Cash from Investing	2.7M	-2.9M	-5M	-43.9M	-5.4M
Short Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-800K	-900K	-900K	-800K	-700K
Total Debt Repaid	-800K	-900K	-900K	-800K	-700K
Issuance of Common Stock	11.2M	-	-	-	-
Common Dividends Paid	-14.9M	-	-5.1M	-4.8M	-5.8M
Common & Preferred Stock Dividends Paid	-14.9M	-	-5.1M	-4.8M	-5.8M
Special Dividend Paid	-	-	-5.5M	-	-
Other Financing Activities, Total	-400K	-300K	-300K	-3.1M	-3.6M
Cash from Financing	-4.9M	-1.2M	-11.8M	-8.7M	-10.1M
Net Change in Cash	22.2M	12.8M	900K	-35.2M	6.5M
Supplemental Items
Cash Interest Paid	300K	200K	200K	3M	3.3M
Cash Income Tax Paid (Refund)	3.4M	1.4M	2.1M	2.5M	1.7M
Levered Free Cash Flow	31.19M	12.68M	12.48M	-5.02M	11.81M
Unlevered Free Cash Flow	31.38M	12.86M	12.66M	-4.78M	13.62M
Change In Net Working Capital	-5.4M	-800K	100K	2.1M	4.3M
Net Debt Issued / Repaid	-800K	-900K	-900K	-800K	-700K

Fiscal Period: September	2021	2022	2023	2024	2025
Profitability
Return on Assets	27.06	8.63	10.4	9.42	8.64
Return on Total Capital	65.62	17.67	19.62	15.95	13.45
Return On Equity %	65.3	24.6	25.43	10.88	22.85
Return on Common Equity	65.3	24.6	25.43	10.88	22.85
Margin Analysis
Gross Profit Margin %	48.55	44.91	47.21	49.98	49.42
SG&A Margin	37.61	40.42	41.56	41.83	39.61
EBITDA Margin %	11.16	4.71	5.86	6.73	9.81
EBITA Margin %	10.94	4.49	5.65	6.56	7.29
EBIT Margin %	10.94	4.49	5.65	6.56	7.29
Income From Continuing Operations Margin %	5.32	3.41	4.14	1.86	4.16
Net Income Margin %	5.32	3.41	4.14	1.86	4.45
Net Avail. For Common Margin %	5.32	3.41	4.14	1.86	4.16
Normalized Net Income Margin	6.77	2.74	3.6	4.23	4.11
Levered Free Cash Flow Margin	11.6	4.7	4.38	-1.7	3.81
Unlevered Free Cash Flow Margin	11.67	4.77	4.44	-1.61	4.4
Asset Turnover
Asset Turnover	3.96	3.08	2.95	2.3	1.9
Fixed Assets Turnover	38.96	41.77	37.76	7.18	4.21
Receivables Turnover (Average Receivables)	128	125.3	135.76	98.57	73.81
Inventory Turnover (Average Inventory)	4.99	4.48	4.42	3.8	3.51
Short Term Liquidity
Current Ratio	1.58	1.82	1.84	1.07	1.25
Quick Ratio	0.82	1.05	1.06	0.28	0.41
Operating Cash Flow to Current Liabilities	0.54	0.36	0.38	0.3	0.39
Days Sales Outstanding (Average Receivables)	2.85	2.91	2.69	3.71	4.95
Days Outstanding Inventory (Average Inventory)	73.11	81.53	82.58	96.39	103.94
Average Days Payable Outstanding	55.85	60.51	60.63	56.5	54.39
Cash Conversion Cycle (Average Days)	20.11	23.94	24.64	43.6	54.49
Long Term Solvency
Total Debt/Equity	18.83	11.36	9.84	88.15	84.32
Total Debt / Total Capital	15.85	10.2	8.96	46.85	45.75
LT Debt/Equity	15.91	9.32	7.79	82.22	78.38
Long-Term Debt / Total Capital	13.39	8.37	7.09	43.7	42.52
Total Liabilities / Total Assets	61.83	53.44	50.71	67	64.01
EBIT / Interest Expense	98	40.33	53.67	48.5	7.79
EBITDA / Interest Expense	103	45.33	58.67	58	10.48
(EBITDA - Capex) / Interest Expense	98.33	44.33	52	5.5	10
Total Debt / EBITDA	0.19	0.37	0.27	1.99	1.68
Net Debt / EBITDA	-0.87	-2.98	-2.36	1.5	1.1
Total Debt / (EBITDA - Capex)	0.2	0.38	0.31	20.95	1.76
Net Debt / (EBITDA - Capex)	-0.91	-3.05	-2.67	15.86	1.15
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	28.8	0.22	5.83	3.72	4.84
Gross Profit, 1 Yr. Growth %	41.85	-7.28	11.24	9.81	3.65
EBITDA, 1 Yr. Growth %	23.97	-57.81	31.5	19.16	26.14
EBITA, 1 Yr. Growth %	23.01	-58.98	33.06	20.5	16.49
EBIT, 1 Yr. Growth %	23.01	-58.98	33.06	20.5	16.49
Earnings From Cont. Operations, 1 Yr. Growth %	-27.41	-35.66	28.26	-53.39	134.55
Net Income, 1 Yr. Growth %	-27.41	-35.66	28.26	-53.39	60.47
Normalized Net Income, 1 Yr. Growth %	23.3	-59.59	38.98	21.95	2
Diluted EPS Before Extra, 1 Yr. Growth %	-39.19	-35.56	27.59	-54.05	120.09
Accounts Receivable, 1 Yr. Growth %	21.05	-13.04	10	72.73	21.05
Inventory, 1 Yr. Growth %	40.87	4.63	0.88	27.78	4.35
Net Property, Plant and Equip., 1 Yr. Growth %	2.94	-15.71	55.93	695.65	1.23
Total Assets, 1 Yr. Growth %	46.46	17.1	4.76	60.1	6.25
Tangible Book Value, 1 Yr. Growth %	167.62	44.84	10.07	-35.71	28.82
Common Equity, 1 Yr. Growth %	136.92	42.86	10.91	7.17	15.87
Cash From Operations, 1 Yr. Growth %	0	-30.74	4.73	-1.7	26.44
Capital Expenditures, 1 Yr. Growth %	133.33	-78.57	566.67	950	-93.33
Levered Free Cash Flow, 1 Yr. Growth %	144.61	-59.44	-1.58	-140.28	-263.49
Unlevered Free Cash Flow, 1 Yr. Growth %	142.51	-59.09	-1.56	-137.71	-295.34
Dividend Per Share, 1 Yr. Growth %	-	-	27.27	15	33.54
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	33.25	13.62	2.99	4.77	4.28
Gross Profit, 2 Yr. CAGR %	45.32	14.68	1.56	10.52	6.69
EBITDA, 2 Yr. CAGR %	70.66	-27.56	-25.51	25.18	34.92
EBITA, 2 Yr. CAGR %	72.33	-28.85	-26.12	26.62	18.48
EBIT, 2 Yr. CAGR %	72.33	-28.85	-26.12	26.62	18.48
Earnings From Cont. Operations, 2 Yr. CAGR %	35.4	-31.66	-9.16	-22.68	4.56
Net Income, 2 Yr. CAGR %	35.4	-31.66	-9.16	-22.68	8.14
Normalized Net Income, 2 Yr. CAGR %	74.1	-29.29	-25.06	30.19	11.53
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-37.4	-9.32	-23.43	5.32
Accounts Receivable, 2 Yr. CAGR %	44.6	2.6	-2.2	37.84	44.6
Inventory, 2 Yr. CAGR %	33.06	21.4	2.74	13.54	15.47
Net Property, Plant and Equip., 2 Yr. CAGR %	32.29	-6.85	14.64	252.23	183.8
Total Assets, 2 Yr. CAGR %	58.8	30.96	10.76	29.51	30.42
Tangible Book Value, 2 Yr. CAGR %	430.09	96.88	26.27	-15.88	-9
Common Equity, 2 Yr. CAGR %	231.66	83.97	25.87	9.02	11.44
Cash From Operations, 2 Yr. CAGR %	69.43	-16.78	-14.83	1.47	11.49
Capital Expenditures, 2 Yr. CAGR %	274.17	-29.29	19.52	736.66	-16.33
Levered Free Cash Flow, 2 Yr. CAGR %	167.38	-0.29	-36.82	-37.04	-2.69
Unlevered Free Cash Flow, 2 Yr. CAGR %	164.42	-0.29	-36.53	-39.07	3.73
Dividend Per Share, 2 Yr. CAGR %	-	-	-	20.98	23.92
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	31.8	21.18	10.96	3.23	4.79
Gross Profit, 3 Yr. CAGR %	40.85	25.1	13.52	4.24	8.18
EBITDA, 3 Yr. CAGR %	115.44	7.23	-11.63	-12.88	33.77
EBITA, 3 Yr. CAGR %	121.65	6.92	-12.34	-13.04	23.15
EBIT, 3 Yr. CAGR %	121.65	6.92	-12.34	-13.04	23.15
Earnings From Cont. Operations, 3 Yr. CAGR %	95.97	5.66	-15.7	-27.28	11.93
Net Income, 3 Yr. CAGR %	95.97	5.66	-15.7	-27.28	14.47
Normalized Net Income, 3 Yr. CAGR %	136.5	7.12	-11.43	-11.85	20.02
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-20.63	-27.71	12.28
Accounts Receivable, 3 Yr. CAGR %	36.72	22.05	5.01	18.22	32
Inventory, 3 Yr. CAGR %	42.49	22.81	14.14	10.49	10.39
Net Property, Plant and Equip., 3 Yr. CAGR %	15.02	13.83	10.6	118.68	132.45
Total Assets, 3 Yr. CAGR %	54.69	43.47	21.57	25.23	21.24
Tangible Book Value, 3 Yr. CAGR %	113.19	243.98	62.19	0.82	-3.04
Common Equity, 3 Yr. CAGR %	173.83	150.48	55.41	19.3	11.26
Cash From Operations, 3 Yr. CAGR %	78.36	25.74	-10.15	-10.66	9.19
Capital Expenditures, 3 Yr. CAGR %	40.95	44.22	49.38	146.62	67.11
Levered Free Cash Flow, 3 Yr. CAGR %	-	42.69	-0.72	-45.62	-2.32
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	42.05	-0.71	-46.65	1.94
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	25.03
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	19.42	14.33	8.24
Gross Profit, 5 Yr. CAGR %	-	-	23.58	19.05	10.74
EBITDA, 5 Yr. CAGR %	-	-	40.97	14.08	4.67
EBITA, 5 Yr. CAGR %	-	-	42.92	14.4	-1.11
EBIT, 5 Yr. CAGR %	-	-	42.92	14.4	-1.11
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	44.09	-6.75	-8.12
Net Income, 5 Yr. CAGR %	-	-	44.09	-6.75	-6.87
Normalized Net Income, 5 Yr. CAGR %	-	-	49.45	15.81	-2.87
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	-11.12
Accounts Receivable, 5 Yr. CAGR %	-	-	19.57	28.14	19.34
Inventory, 5 Yr. CAGR %	-	-	25.01	19.02	14.67
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	14.87	78.85	61.24
Total Assets, 5 Yr. CAGR %	-	-	35.34	37.71	25.04
Tangible Book Value, 5 Yr. CAGR %	-	-	72.89	95.83	28.72
Common Equity, 5 Yr. CAGR %	-	-	100.66	79.58	36.05
Cash From Operations, 5 Yr. CAGR %	-	-	32.71	15.41	-2.05
Capital Expenditures, 5 Yr. CAGR %	-	-	31.95	191.37	18.47
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	2.87	-1.52
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	1.25	1.04