Vivmark Residential key statistics and ratios
In fiscal 2019, Vivmark Residential had return on equity of 9.5%, an operating margin of 50.2% and debt equal to 98.2% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2007Dec 2007 | 2008Dec 2008 | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | LTMMar 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | — | 56.6% | 67.3% | 70.4% | — | — | — | — | — | — | — | — | — | — |
| Operating margin | 27.2% | 21.5% | 26.4% | 20.8% | 26.7% | 29.4% | 21.5% | 35.2% | 36.8% | 35.3% | 40.6% | 43.2% | 50.2% | 57.6% |
| Net margin | 53.7% | 20.6% | 22.1% | 16.9% | 58.6% | 48.2% | 76.7% | 24.1% | 31.7% | 176.9% | 24.4% | 25.5% | 35.9% | 43.2% |
| Free-cash-flow margin | 43.1% | 38.1% | 40.8% | 43.2% | 43.0% | 51.1% | 30.7% | 43.5% | 49.3% | 49.8% | 51.2% | 52.4% | 47.3% | 45.9% |
| Return on equity | — | 8.3% | 7.3% | 5.6% | 16.6% | 13.0% | 20.6% | 6.0% | 8.4% | 41.5% | 5.9% | 6.4% | 9.5% | 11.3% |
| Return on assets | — | 2.5% | 2.3% | 1.8% | 5.4% | 5.0% | 9.1% | 2.8% | 3.8% | 19.6% | 2.9% | 3.2% | 4.7% | 5.6% |
| Asset turnover | — | 0.12 | 0.10 | 0.11 | 0.09 | 0.10 | 0.12 | 0.11 | 0.12 | 0.11 | 0.12 | 0.13 | 0.13 | 0.13 |
| Debt to equity | — | 102.7% | 94.8% | 93.6% | 72.5% | 53.5% | 49.2% | 49.1% | 44.7% | 40.3% | 88.6% | 92.5% | 98.2% | 27.9% |
| Interest cover (operating income ÷ interest) | 1.0x | 0.9x | 0.9x | 0.8x | 0.9x | — | — | — | 2.3x | 1.8x | 2.6x | 2.7x | 3.5x | 4.1x |
| Effective tax rate | 17.7% | — | — | — | — | 0.3% | — | 0.3% | 0.2% | 0.4% | 0.1% | 0.1% | −0.2% | −0.2% |
| Capital spending as % of revenue | 0.4% | 0.1% | 0.1% | 0.2% | 9.5% | 8.7% | 5.7% | 7.1% | 0.1% | 0.2% | 0.1% | 0.2% | 6.6% | 7.9% |
| Free cash flow ÷ net income | 80.1% | 184.7% | 184.6% | 254.9% | 73.4% | 106.1% | 40.0% | 180.3% | 155.5% | 28.2% | 209.5% | 205.6% | 131.8% | 106.4% |
| Dividends ÷ net income | 53.7% | 128.1% | 134.9% | 134.0% | 48.3% | 56.2% | 37.2% | 123.0% | 90.2% | 111.2% | 122.5% | 118.9% | 85.6% | 71.7% |
| Dividends and buybacks ÷ free cash flow | 222.5% | 71.0% | 73.2% | 52.8% | 65.9% | 53.0% | 93.0% | 68.4% | 58.0% | 394.9% | 58.5% | 57.9% | 65.0% | 67.4% |
| Quarter | 2018 Q2Jun 2018 | 2018 Q3Sept 2018 | 2018 Q4Dec 2018 | 2019 Q1Mar 2019 | 2019 Q2Jun 2019 | 2019 Q3Sept 2019 | 2019 Q4Dec 2019 | 2020 Q1Mar 2020 |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 34.0% | 52.0% | 33.5% | 31.7% | 55.1% | 53.8% | 59.8% | 61.9% |
| Net margin | 17.8% | 32.9% | 18.0% | 15.8% | 46.1% | 39.0% | 42.4% | 45.2% |
| Free-cash-flow margin | 50.6% | 54.8% | 47.6% | 56.2% | 47.3% | 40.4% | 45.7% | 50.4% |
| Debt to equity | — | — | 87.6% | — | — | — | 88.5% | — |
Moat
Strong moat
How hard Vivmark Residential's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 5 / 20
Net income has been a median 4.2% of total assets over 10 years.
- Durability 19 / 20
Operating margin has been a median 35.3%; its worst year was 21.3%.
- Cash conversion 20 / 20
Free cash flow was positive in 10 of 10 years, at a median 46.0% of revenue.
- Discipline 17 / 20
The diluted share count rose 0.2% over five years; stock-based pay has been a median 1.1% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
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