VCI Global Ltd
VCIGdata completeness 100%3 fiscal years on fileVCI Global Ltd earns about 35% on invested capital, far above its ~9% cost of capital, and has bought back 59% of its shares over 3 years — the marks of a durable business run for its owners. The estimate methods put fair value between $1.38 and $5.37 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenue | $8.08M1 | $19.8M2 | $27.8M3 |
| Net income | $4.9M4 | $7.77M5 | $7.87M6 |
| Operating cash flow | −$305,1027 | $1.15M8 | $22.3M9 |
| Capital expenditure | $379,09210 | $433,92211 | $327,07712 |
| Free cash flow (derived) | −$684,1947 | $717,3068 | $22M9 |
| Total debt | $248,23913 | $201,03214 | $182,39115 |
| Cash & equivalents | $870,72016 | $1.04M17 | $8.1M17 |
| Diluted shares | 36.8M | 38.0M | 15.0M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $57.61 of net worth that earned you $5.26 and generated $14.65 of cash last year, against $0.12 of debt.
It earned about 35% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is down 59% over 3 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 27% — deleveraging.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $1.38 and $5.37 a share. They rest on different assumptions, so where they diverge is the story.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$717,306
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$717,306
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$7.77M
- growthAssumed0.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $1.21 |
| Base | 5.0% | $1.38 |
| Bull | 10.0% | $1.58 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 20-F · period ending 2022-12-31 · accession 0001575872-23-000741 (Revenue)
- 20-F · period ending 2023-12-31 · accession 0001213900-24-037483 (Revenue)
- 20-F · period ending 2024-12-31 · accession 0001213900-25-042476 (Revenue)
- 20-F · period ending 2022-12-31 · accession 0001575872-23-000741 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2023-12-31 · accession 0001213900-24-037483 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2024-12-31 · accession 0001213900-25-042476 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2022-12-31 · accession 0001575872-23-000741 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2023-12-31 · accession 0001213900-24-037483 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2024-12-31 · accession 0001213900-25-042476 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0001575872-23-000741 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2023-12-31 · accession 0001213900-24-037483 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2024-12-31 · accession 0001213900-25-042476 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2022-12-31 · accession 0001575872-23-000741 (Borrowings)
- 20-F · period ending 2023-12-31 · accession 0001213900-24-037483 (Borrowings)
- 20-F · period ending 2024-12-31 · accession 0001213900-25-042476 (Borrowings)
- 20-F · period ending 2022-12-31 · accession 0001213900-24-037483 (CashAndCashEquivalents)
- 20-F · period ending 2023-12-31 · accession 0001213900-25-042476 (CashAndCashEquivalents)