Vector Group Ltd

www.vectorgroupltd.com

Earnings Score
Safety Score

Market Cap $2.30B
Debt $1.39B
Cash $391.63M
EV $3.30B
FCF $200.93M

Earnings

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Sales & Net Margins

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Earnings	$194.39M
EBIT	$357.66M
ROA	33%
FCF	$200.93M
Equity	-$713.35M
Growth Stability	75%
PE	11.84
PEG	0.58
PB	-3.23
P/FCF	11.46
P/S	1.62
Price/Cash	0.17
Debt/Equity	-1.95
Debt/FCF	6.93
Net Margins	12%
Gross Margins	33%
Op. Margins	25%
Earnings CAGR	19%
Sales Growth YoY	2%
Sales Growth QoQ	15%
Sales CAGR	-6%
FCF CAGR	10%
Earnings Stability	0.74
Earnings Growth YoY	43%

Earnings Growth QoQ	56%
Earnings CAGR 5Y	20%
Sales CAGR 5Y	18%
FCF CAGR 5Y	1%
Earnings CAGR 3Y	15%
Sales CAGR 3Y	15%
FCF CAGR 3Y	-10%
Market Cap	$2.30B
Revenue	$1.42B
Dividend Yield	6%
Payout Ratio	66%
Assets	$1.09B
Total Debt	$1.39B
Cash	$391.63M
Shares Outstanding	153.6M
EV	3.3B
Earnings Score	92%
Safety Score	51%
Working Capital	401.39M
Current Ratio	2.43
Shares Growth 3y	0%
Equity Growth QoQ	-3%
Equity Growth YoY	-11%

Assets & ROA

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Stockholders Equity & ROE

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Vector Group Ltd is a holding company whose subsidiaries--Liggett Group, Vector Tobacco, and New Valley-- primarily sell tobacco products and invest in real estate. The Liggett Group and Vector Tobacco subsidiaries sell cigarettes, primarily in the discount segment, in the United States under brand names Eagle 20's, Pyramid, Grand Prix, Liggett Select, and Eve. New Valley, through its majority ownership in Douglas Elliman Realty, invests in real estate worldwide. It also operates the largest residential brokerage company in the New York City area and has additional operations in South Florida, Beverly Hills, Aspen, and Connecticut. Tobacco accounts for more than half of total company revenue; real estate makes up the remainder.

SEC Filings

Direct access to Vector Group Ltd (VGR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Vector Group Ltd compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Vector Group Ltd compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 19%

Stability 74%

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Vector Group Ltd Discounted Cash Flow

Fully customizable DCF calculator online for Vector Group Ltd.

Years

Calculation mode

= $4B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$201M	$221M	$243M	$267M	$294M	$323M	$355M	$391M	$430M	$473M	$520M	$5.2B
DCF		$201M	$201M	$201M	$201M	$201M	$201M	$201M	$201M	$200M	$200M	$2B
Value	$4B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	2%	3%	4%	4%	3%	22%	7%	17%	11%	13%	12%
ROA	-	15%	17%	18%	14%	15%	18%	37%	37%	35%	33%
ROE	-	-47%	-27%	-24%	-9%	-14%	-14%	-25%	-19%	-24%	-

Good Net Margins (12.45%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	8.35	17.52	11.52	11.71	16.51	5.8	5.91	8.51	6.98	6.93
Debt over Equity	54.52	-9.12	-4.91	-3.88	-3.51	-2.69	-2.18	-1.7	-1.81	-1.88	-1.95
Growth Stability	-	-	-	100%	75%	100%	100%	100%	100%	100%	75%

Bad Debt/FCF ratio (6.93)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (-1.95)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (75%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	4%	2%	7%	3%	-77%	192%	-1%	18%	-1%	18%
Earnings YoY growth	-	60%	20%	14%	-35%	83%	-3%	136%	-28%	16%	20%
Equity YoY growth	-	-654%	107%	31%	65%	25%	-4%	28%	-4%	-8%	-
FCF YoY growth	-	59%	-47%	57%	47%	-32%	123%	-3%	-29%	16%	1%