Vitreous Glass (VCI) AI Stock Analysis

• Market Cap: C$44.35M
• Dividend Yield: 3.74%
• Average Volume (3M): 2.62K
• Price to Earnings (P/E): 14.1
• Beta (1Y): 0.51
• Revenue Growth: 45.73%
• EPS Growth: 30.99%
• Country: CA
• Employees: N/A
• Sector: General
• Sector Strength: N/A
• Industry: Waste Management
• EPS (TTM): 0.16
• Shares Outstanding: 6,336,087
• 10 Day Avg. Volume: 1,967
• 30 Day Avg. Volume: 2,623
• PEG Ratio: 0.39
• Price to Book (P/B): 7.73
• Price to Sales (P/S): 2.75
• P/FCF Ratio: 11.94
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 86 Outperform
• Price Target: C$8.00 ▲(8.84% Upside)

The score is driven primarily by strong financial performance (high profitability, strong cash generation, and minimal debt). Technicals are supportive with a clear uptrend, though momentum is nearing overbought levels. Valuation is reasonable with a solid dividend yield, adding support but not indicating a major bargain.

Positive Factors

Balance Sheet Health

A low debt-to-equity ratio indicates minimal leverage risk, providing financial stability and flexibility for future investments or downturns.

Profitability Margins

High profitability margins suggest strong pricing power and cost management, which supports sustained earnings and competitive positioning.

Cash Flow Management

Efficient cash conversion enhances liquidity and supports ongoing operations and strategic initiatives, ensuring long-term business viability.

Negative Factors

Revenue Decline

Declining revenue can indicate weakening demand or competitive pressures, potentially impacting future growth and market share.

Free Cash Flow Decline

A decline in free cash flow may limit the company's ability to fund new projects or return capital to shareholders, affecting long-term growth prospects.

Revenue Growth Challenges

Continued challenges in revenue growth could hinder the company's ability to scale operations and maintain competitive advantage in the market.

Vitreous Glass Business Overview & Revenue Model

Company Description

Vitreous Glass Inc. cleans, crushes, and sells waste glass to the fiberglass manufacturing industry in Canada. The company offers its products to fiberglass insulation manufacturers for use as furnace ready cullet for use in their production facilities. Vitreous Glass Inc. is headquartered in Airdrie, Canada.

How the Company Makes Money

Vitreous Glass (VCI) generates revenue primarily through the sale of its vitreous glass products, which are sold directly to contractors, architects, and distributors in the construction and design sectors. The company has established key revenue streams from both bulk orders for large-scale projects and individual sales to retail customers. Additionally, VCI has developed strategic partnerships with construction firms and design studios, allowing for co-branded products and exclusive offerings that enhance its market presence. The company also benefits from ongoing maintenance and replacement contracts, providing a steady income from existing installations. Furthermore, VCI invests in marketing efforts to promote its brand and product range, which contributes to increased sales and customer loyalty.

Vitreous Glass Financial Statement Overview

Summary

High-quality fundamentals: strong profitability and cash conversion, paired with an exceptionally low-debt balance sheet. The key drawback is volatility in revenue and free-cash-flow growth despite the latest-year rebound.

Income Statement

Profitability is strong, with consistently high gross and operating margins and solid net margins across the period. Growth has been uneven (notable revenue declines in 2022 and a slight dip in 2024), but the latest annual result shows a clear rebound with revenue up 12.541% and earnings remaining robust. Overall, the income profile looks high-quality, with the main weakness being the volatility in year-to-year revenue growth.

Balance Sheet

The balance sheet is very conservative, with minimal-to-zero debt (debt-to-equity near 0 in most years and 0.0 in 2025), indicating low financial risk and strong flexibility. Equity has grown over time, and returns on equity are exceptionally high, suggesting strong profitability relative to the capital base. The key watch-out is that very high returns can be influenced by a relatively small equity base, which can make results more sensitive to business swings.

Cash Flow

Cash generation is strong and generally tracks earnings well, with free cash flow close to net income in most years (including 2025). Operating cash flow comfortably covers reported earnings across the period, supporting quality of profits. The main weakness is variability in free cash flow growth (sharp decline in 2022 and a drop in 2024), though 2025 shows a recovery with free cash flow up 10.313%.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	14.07M	14.07M	9.66M	10.19M	9.62M	12.12M
Gross Profit	6.34M	6.34M	4.96M	5.07M	4.38M	6.31M
EBITDA	4.13M	4.19M	3.32M	3.44M	3.00M	4.49M
Net Income	3.14M	3.14M	2.40M	2.54M	2.17M	3.37M
Balance Sheet
Total Assets	6.66M	6.66M	5.12M	5.41M	5.49M	5.15M
Cash, Cash Equivalents and Short-Term Investments	2.89M	2.89M	1.88M	2.26M	1.74M	2.45M
Total Debt	0.00	0.00	59.45K	80.09K	99.77K	118.53K
Total Liabilities	1.67M	1.67M	1.10M	1.26M	1.24M	985.68K
Stockholders Equity	5.00M	5.00M	4.02M	4.15M	4.26M	4.16M
Cash Flow
Free Cash Flow	3.24M	3.24M	2.18M	3.19M	1.39M	4.41M
Operating Cash Flow	3.47M	3.47M	2.33M	3.27M	1.97M	4.52M
Investing Cash Flow	-234.96K	-234.96K	-152.35K	-87.18K	-580.42K	-108.56K
Financing Cash Flow	-2.23M	-2.23M	-2.56M	-2.66M	-2.10M	-3.48M

Vitreous Glass Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.35
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VCI, the sentiment is Positive. The current price of 7.35 is above the 20-day moving average (MA) of 7.06, above the 50-day MA of 6.74, and above the 200-day MA of 6.02, indicating a bullish trend. The MACD of 0.05 indicates Positive momentum. The RSI at 52.89 is Neutral, neither overbought nor oversold. The STOCH value of 51.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:VCI.

Vitreous Glass Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCI	86 Outperform	C$44.35M	14.11	69.72%	3.74%	45.73%	30.99%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
BLM	49 Neutral	C$76.31M	-22.48	-3.01%	―	63.49%	-133.70%
CMC	44 Neutral	C$12.32M	-0.22	-352.14%	―	―	-72.78%
ECM	41 Neutral	C$38.56M	-14.95	-1787.47%	―	135.68%	68.99%
ROOF	41 Neutral	C$36.06M	-2.28	―	―	12.06%	-52.13%

Vitreous Glass Corporate Events

Vitreous Glass Inc. Announces Annual Meeting and Governance Updates

Vitreous Glass Inc. has announced its annual general and special meeting of shareholders, scheduled for February 5, 2026, where key agenda items include the election of directors and the adoption of a new governance framework through By-Law Number 2. This new by-law aims to modernize the company’s governance by incorporating updated provisions of the Business Corporations Act (Alberta) and introducing advance notice provisions for director nominations, enhancing the efficiency and transparency of shareholder meetings.

The most recent analyst rating on (TSE:VCI) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Vitreous Glass stock, see the TSE:VCI Stock Forecast page.

Vitreous Glass Grants Deferred Share Units to Director

Vitreous Glass Inc. announced the grant of 745 deferred share units (DSUs) to an independent director as a non-cash settlement for dividends on previously issued DSUs. This move reflects the company’s ongoing commitment to aligning director compensation with shareholder interests, potentially enhancing its governance practices and market perception.

The most recent analyst rating on (TSE:VCI) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Vitreous Glass stock, see the TSE:VCI Stock Forecast page.