Vantage Corp (Singapore) (NYSE: VNTG)

Sector: Industrials Industry: Marine Shipping CIK: 0002027160
Market Cap 25.66 Mn
P/B 2.05
P/E 43.50
P/S 1.53
ROIC (Qtr) 0.00
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 1.23 Mn
Debt/Equity (Qtr) 0.10
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About

Investment thesis

Bull case

  • Healthy cash reserves of 11.66M provide 24.44x coverage of short-term debt 477227, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 20.68M provides 16.79x coverage of total debt 1.23M, indicating robust asset backing and low credit risk.
  • Cash reserves of 11.66M provide solid 2476.44x coverage of other non-current liabilities 4710, indicating strong liquidity.
  • Cash reserves of 11.66M provide robust 1.57x coverage of current liabilities 7.41M, indicating strong short-term solvency.
  • Strong cash position of 11.66M provides 1.70x coverage of other current liabilities 6.88M, indicating excellent liquidity.

Bear case

  • Operating cash flow of 0 provides minimal 0x coverage of tax expenses of 357614, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Retained earnings of 607402 provide limited buffer against comprehensive income items of (26651), which is -22.79x, indicating elevated exposure to market risks.
  • Operating cash flow of 0 barely covers operating expenses of 414777 with a 0 ratio, suggesting thin operational efficiency margins and limited flexibility.
  • Tangible assets of 20.68M provide limited backing for working capital of 11.80M, which is 1.75x, suggesting increased operational risk in market downturns.
  • Tax assets of 0 provide limited offset against tax liabilities of 1.26M, which is 0x, indicating potential future cash flow pressure from tax obligations.

Product and Service Breakdown of Revenue (2025)

Product and Service Breakdown of Revenue (2025)

Peer comparison

Companies in the Marine Shipping
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 KEX Kirby Corp 7.05 Bn 19.89 2.10 1.13 Bn
2 MATX Matson, Inc. 6.79 Bn 74.01 4.43 0.72 Bn
3 ZIM ZIM Integrated Shipping Services Ltd. 3.36 Bn 3.35 0.44 5.66 Bn
4 HAFN Hafnia Ltd 3.35 Bn 10.82 1.51 0.89 Bn
5 BWLP BW LPG Ltd 2.38 Bn 10.97 0.67 1.09 Bn
6 SBLK Star Bulk Carriers Corp. 2.37 Bn 245.30 3.42 1.23 Bn
7 CMRE Costamare Inc. 2.05 Bn 6.81 1.69 1.58 Bn
8 DAC Danaos Corp 1.99 Bn 4.27 1.93 0.75 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.96 0.60
EV to Cash from Ops. EV/CFO 10.48 6.07
EV to Debt EV to Debt 16.13 60.45
EV to EBIT EV/EBIT 20.33 4.74
EV to EBITDA EV/EBITDA 4.24 5.76
EV to Free Cash Flow [EV/FCF] EV/FCF 11.23 5.00
EV to Market Cap EV to Market Cap 0.77 29.59
EV to Revenue EV/Rev 1.18 2.00
Price to Book Value [P/B] P/B 2.05 1.07
Price to Earnings [P/E] P/E 43.50 13.80
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 2.47
Dividend Payout Ratio % Dividend Payout Ratio % 0.00 68.67
Dividend per Basic Share Div per Share (Qtr) 0.00 1.18
FCF Dividend Payout Ratio % FCF Dividend Payout Ratio % 0.00 105.16
Interest Coverage Interest Coverage 33.37 -7.10
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % 0.00 -33.98
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 22.09 25.96
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 9.12
EBIAT Growth (1y) % EBIAT Growth (1y) % -88.29 -27.24
EBITDA Growth (1y) % EBITDA Growth (1y) % 0.00 -36.36
EBIT Growth (1y) % EBIT Growth (1y) % -84.54 -26.39
EBT Growth (1y) % EBT Growth (1y) % -84.96 -36.07
EPS Growth (1y) % EPS Growth (1y) % -88.89 -30.68
FCF Growth (1y) % FCF Growth (1y) % 0.00 14.21
Gross Profit Growth (1y) % Gross Profit Growth (1y) % -35.47 -7.09
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Utilization Ratio 0.81 0.63
Cash Payout Ratio Cash Payout Ratio 0.00 0.08
Cash Ratio Cash Ratio (Qtr) 1.57 1.33
Current Ratio Curr Ratio (Qtr) 2.59 2.15
Debt to Equity Ratio Debt/Equity (Qtr) 0.10 0.73
Interest Cover Ratio Interest Cover Ratio 33.37 -7.10
Times Interest Earned Times Interest Earned 33.37 -7.10
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % 0.00 27.36
EBIT Margin % EBIT Margin % 5.83 17.95
EBT Margin % EBT Margin % 5.65 10.77
Gross Margin % Gross Margin % 38.10 37.00
Net Profit Margin % Net Profit Margin % 3.50 9.28