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VNV Global (SE:VNV)
:VNV
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VNV Global
(VNV)
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Rating:41Neutral
Price Target:―
VNV Global's stock score reflects significant challenges, primarily driven by financial performance issues such as revenue volatility and net losses. Despite a strong balance sheet, the technical analysis indicates bearish momentum, and the negative P/E ratio highlights valuation difficulties. The lack of earnings call data and corporate events limits additional insights.
VNV Global (VNV) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
$3.03B
Dividend YieldN/A
Average Volume (3M)324.17K
Price to Earnings (P/E)21.7
Beta (1Y)1.78
Revenue GrowthN/A
EPS GrowthN/A
CountrySE
Employees3
SectorFinancial
Sector Strength70
IndustryAsset Management - Global
Share Statistics
EPS (TTM)-0.62
Shares Outstanding130,978,240
10 Day Avg. Volume232,434
30 Day Avg. Volume324,168
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.37
Price to Sales (P/S)-2.78
P/FCF Ratio4.67
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue259.38
Enterprise Value/Gross Profit870.00
Enterprise Value/Ebitda-1.62K
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
VNV Global Business Overview & Revenue Model
Company DescriptionVNV Global AB (publ) formerly known as Vostok New Ventures Ltd., is a private equity and venture capital firm specializing in growth capital, buyout investments, incubation, seed/startup, early venture, mid venture, late venture. It prefers to invest globally including Africa / Middle East, European Emerging Markets, Latin America and Caribbean, United States and Canada except China in online marketplaces, consumer-focused and business 2 business companies. It usually seeks investments where it can become a significant minority shareholder and actively manage the investment through board representation. The firm prefers to invest in unlisted companies. It prefers to take majority and minority stake in its portfolio companies. VNV Global AB (publ) was founded on April 5, 2007 and is based in Stockholm, Sweden .
How the Company Makes MoneyVNV Global makes money through capital appreciation and investment returns from its portfolio of high-growth technology companies. The company invests in early-stage and growth-stage businesses, often acquiring significant equity stakes. As these companies grow and potentially go public or are acquired, VNV Global realizes returns on its investments. Additionally, the company may earn dividends or interest from its holdings, though its primary focus is on long-term capital gains. Strategic partnerships with technology firms and financial institutions may also enhance its investment capabilities and returns.
VNV Global Earnings Call Summary
Earnings Call Date:Jul 18, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:Jan 29, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive developments such as strong performances by BlaBlaCar, Voi, Numan, and Breadfast, alongside challenges including a decline in NAV and the sale of Gett below NAV. While there are significant achievements, the balance between highlights and lowlights suggests a neutral sentiment.Q2-2024 Updates
Positive Updates
Strong Performance of BlaBlaCar
BlaBlaCar closed last year with about EUR 250 million revenue and positive EBITDA, indicating strong performance despite a downtick in NAV due to peer group adjustments.
Successful Acquisition by BlaBlaCar
BlaBlaCar acquired Obilet, the bus marketplace of Turkey, which is expected to close in Q3 2024, adding profitable growth to the company.
Positive Developments in Voi
Voi is EBITDA positive and potentially EBIT positive by the end of the year, with significant market presence and contract wins like Solent in England and Antwerpen.
Significant Growth in Breadfast
Breadfast achieved an ARR of $150 million in revenue, a remarkable 38x increase since 2021, becoming a well-loved brand in Egypt.
Numan's Strong Financial Performance
Numan's revenue run rate increased by 100% year-on-year and the company is EBITDA positive, showing strong financial performance.
Negative Updates
Decline in NAV
NAV per share decreased by 10% during the quarter, impacted by peer multiples and the sale of Gett below NAV.
BlaBlaCar and HousingAnywhere Downward Adjustment
BlaBlaCar and HousingAnywhere experienced a 14% decline in valuation due to peer group adjustments and FX impacts.
Sale of Gett Below NAV
The sale of Gett was below NAV, contributing to the overall decrease in NAV for the quarter.
Company Guidance
During the VNV Global Second Quarter 2024 earnings call, the company reported a NAV of $600 million, equating to SEK 48.6 per share, reflecting a 10% decline from the previous quarter. This was primarily due to falling peer multiples affecting valuations of key investments like BlaBlaCar, Gett, and HousingAnywhere. The sale of Gett to Pango for $83 million was highlighted, with $70 million receivable at closing and $13 million in escrow. The transaction is pending approval from Israeli antitrust authorities. The company's liquidity at quarter-end was $16.6 million, with a net debt of $81.2 million or minus SEK 6.6 per share. Portfolio concentration increased, with the top three holdings—BlaBlaCar, Gett, and HousingAnywhere—comprising over 70% of total NAV. VNV's cash position is anticipated to improve significantly upon the completion of the Gett sale, potentially reaching up to $70 million by year-end, subject to further asset disposals. The company is also poised to consider stock buybacks to capitalize on current undervaluations.VNV Global Financial Statement Overview
Summary
VNV Global's financial performance displays significant revenue volatility and recent net losses, impacting overall profitability. The balance sheet is strong with a robust equity position and debt reduction, reducing financial risk. While there are improvements in cash flow, historical inconsistencies in cash management remain a concern.Income Statement
VNV Global has experienced significant volatility in its revenue, showing substantial declines in recent years. The revenue growth rate has been negative due to the drop from 2023 to 2024. Gross profit margins have been consistently aligned with total revenue, indicating no cost of goods sold, but the negative net profit margin from 2023 to 2024 highlights profitability challenges. EBIT margin is notably absent in 2024, reflecting operational difficulties.35
Negative
Balance Sheet
The company's balance sheet shows a strong equity base with a positive equity ratio, reflecting low financial risk. However, the debt-to-equity ratio has improved with debt elimination in 2024, suggesting a more conservative financial strategy. ROE has been negative recently due to net losses, but the high stockholders' equity provides a buffer against liabilities.60
Neutral
Cash Flow
VNV Global's cash flow statement indicates fluctuating cash flows with a notable improvement in operating cash flow in 2024. The free cash flow to net income ratio is positive, showing cash generation capability despite net losses. However, the past inconsistency in operating cash flow raises concerns about cash management.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.28M | -71.11M | 45.29M | -758.29M | 86.22M | 222.91M |
| Gross Profit | 3.36M | -77.78M | 35.82M | -771.72M | 77.74M | 217.54M |
| EBITDA | -1.80M | -84.80M | 22.72M | -781.69M | 64.09M | 207.72M |
| Net Income | -2.08M | -85.14M | 22.43M | -782.00M | 63.74M | 206.93M |
Balance Sheet | ||||||
| Total Assets | 689.45M | 661.01M | 824.62M | 781.55M | 1.55B | 1.19B |
| Cash, Cash Equivalents and Short-Term Investments | 16.42M | 15.68M | 42.49M | 66.13M | 124.20M | 17.72M |
| Total Debt | 89.23M | 77.04M | 152.12M | 164.34M | 144.94M | 99.06M |
| Total Liabilities | 91.18M | 79.62M | 158.33M | 168.12M | 144.94M | 108.33M |
| Stockholders Equity | 598.27M | 581.39M | 666.29M | 613.43M | 1.40B | 1.08B |
Cash Flow | ||||||
| Free Cash Flow | 8.73M | 46.38M | -29.41M | -80.55M | -191.01M | -104.74M |
| Operating Cash Flow | 8.73M | 46.38M | -29.41M | -80.55M | -191.01M | -104.74M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -5.03M | -67.82M | 4.13M | 22.73M | 305.20M | 105.79M |
VNV Global Technical Analysis
Neutral
22.52
Price Trends
23.56
Negative
22.51
Negative
20.09
Positive
Market Momentum
-0.57
Positive
42.26
Neutral
38.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VNV, the sentiment is Neutral. The current price of 22.52 is above the 20-day moving average (MA) of 22.21, below the 50-day MA of 23.56, and above the 200-day MA of 20.09, indicating a neutral trend. The MACD of -0.57 indicates Positive momentum. The RSI at 42.26 is Neutral, neither overbought nor oversold. The STOCH value of 38.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:VNV.
VNV Global Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | kr5.50B | 13.89 | ― | 6.33% | -0.22% | -58.80% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | €5.81B | 660.12 | 0.16% | 0.79% | -96.46% | -99.03% | |
58 Neutral | €19.86B | -6.85 | -23.18% | 1.08% | 22.38% | -153.85% | |
56 Neutral | €23.97B | 199.46 | ― | ― | -97.64% | ― | |
41 Neutral | $3.03B | 21.74 | 2.59% | ― | ― | ― |
* Financial Sector Average
SE:VNV
VNV Global
22.52
3.09
15.90%
SE:KINV.A
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17.43%
SE:BURE
Bure Equity AB
254.80
-113.56
-30.83%
SE:SVOL.B
Svolder AB Class B
57.55
4.63
8.75%
SE:NAXS
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38.00
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2.65%
SE:ORES
Investment AB Oresund
114.80
9.43
8.95%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.