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Vitreous Glass Inc (VCI) Fair Value & Analysis

Industrials · CA · Market cap C$44.5M (≈ $32.2M) · ISIN CA92852B1013

What is Vitreous Glass Inc really worth?

VG Vitreous Glass Inc VCI · V
PriceC$6.95
Fair ValueC$8.79
Upside+26.5%
Quality87/100

A strong business, trading 21% below our fair value of C$8.79.

As of Aug 31, 2026, the fair value of Vitreous Glass Inc is C$8.79 per share against a price of C$6.95, so the fair value sits 26% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Healthy Growth (revenue 5y +8.5 %/yr)
Highly profitable · 24.0% net margin
generates free cash flow
Ranks above peers (9/13)
Wide moat 90/100
Evidence: High Range C$6.15 – C$11.02

Fair value as of: Aug 31, 2026

From 25 valuation models · updated 6 days ago

Share price −0.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The rarer combination: high quality (87/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

C$7.16 C$2.73 Fair Value C$8.79 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.

How to read this chart

60‑month range C$2.73 – C$7.16 · fair‑value band C$6.15 – C$11.02 · the C$6.95 price screens below the C$8.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 31, 2026.

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Analysis

Vitreous Glass Inc (VCI) currently trades at C$6.95, while our model-based Fair Value estimate is C$8.79, implying the stock looks roughly 20.9% undervalued today. The Quality Score stands at 87/100 (high quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of C$8.51 per share, and 8 of the 25 models we run sit above the C$6.95 price. Bear case: the Economic Profit group reads lowest at C$2.98, and 17 of the 25 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Vitreous Glass Inc generated revenue of C$15.0M at a net margin of 24.0%. Revenue declined 5.6% year over year. It earns a return on equity of 75.1%. The balance sheet holds a net cash position of C$2.2M. Fundamentals as of Aug 31, 2026

Our scenario range runs from C$6.15 (bear case) to C$11.02 (bull case); at C$6.95, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 4% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 26%, VCI screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly C$0.5325 per share, which is 6.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence C$4.48 C$5.72 C$7.17 80
Growth DCF C$4.52 C$5.63 C$6.87 77
Owner Earnings C$4.26 C$5.44 C$6.81 75
All 25 models by family
DCF Models
FCF DCF best evidence C$4.48 C$5.72 C$7.17 80
Owner Earnings C$4.26 C$5.44 C$6.81 75
5Y Revenue Exit C$3.70 C$4.98 C$6.52 71
5Y EBITDA Exit C$5.30 C$7.84 C$10.68 73
5Y P/E Exit C$6.00 C$9.09 C$12.17 68
10Y Revenue Exit C$3.96 C$5.06 C$6.37 66
10Y EBITDA Exit C$4.88 C$6.72 C$8.97 67
10Y P/E Exit C$5.25 C$7.44 C$9.90 62
Earnings-Based
Graham-Dodd C$3.36 C$8.18 C$10.58 65
PEG = 1.0 C$1.46 C$2.08 C$2.71 57
EPV C$4.07 C$4.50 C$4.86 70
Dividend Discount
Gordon GGM C$2.43 C$3.71 C$4.89 69
DDM Multi-Stage C$2.43 C$3.33 C$4.12 67
Multiples
P/E Multiple C$7.79 C$10.39 C$12.98 63
P/S Multiple C$3.32 C$4.43 C$5.54 58
P/B Multiple C$2.65 C$3.54 C$4.42 55
EV/EBIT C$8.43 C$11.09 C$13.75 63
EV/EBITDA C$6.79 C$8.90 C$11.02 64
EV/Revenue C$3.24 C$4.44 C$5.64 51
Asset-Based
NCAV (Graham) C$0.3900 C$0.5300 C$0.7900 51
Growth DCF
Growth DCF C$4.52 C$5.63 C$6.87 77
Rev-Margin DCF C$3.70 C$5.05 C$6.54 71
Economic Profit
Residual Income C$2.31 C$2.98 C$15.45 64
ROIC Compounder C$4.11 C$4.59 C$5.00 70
Growth Earnings
Growth-Adj P/E C$5.96 C$8.51 C$11.06 67

Widest divergence: Growth Earnings (C$8.51) versus Asset-Based (C$0.5300). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 12.2
P/S ratio 2.72 P/E × margin
EPS (TTM) C$0.5700 price ÷ EPS = P/E 12.2
Dividend yield 5.6% payout 68.1%
Net margin 22.3% FY2025
Return on equity 75.1% TTM
More key figures
Profitability
Return on assets (EBIT) 63.5% avg 5y
Operating margin 30.2% TTM
Growth
Revenue (TTM) C$15.0M TTM
Revenue growth (YoY) −5.6% 3y avg +13.5%
EPS growth (YoY) −7.1%
Balance sheet & cash flow
Free cash flow C$3.2M FY2025
Net cash C$2.2M FY2023

Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 87/100

Of which business quality 84 · Market factors (momentum, volatility) 65

Profitability 98
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Vitreous Glass Inc. cleans, crushes, and sells waste glass to the fiberglass manufacturing industry in Canada. It offers its products to fiberglass building insulation manufacturers for use as a raw material to insulate homes. The company was incorporated in 1992 and is headquartered in Airdrie, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vitreous Glass Inc reported revenue of C$14.1M in FY2025 versus C$12.1M in FY2021, a compound +3.8%/yr. Reported net income was C$3.1M in FY2025, compounding −1.8%/yr from FY2021.

Growth Quality 87/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
C$14.1M
Latest YoY
+45.7%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.5%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.5%
Avg. revenue growth/yr (29Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+12.2% · in CAD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+6.6%
Dividend yield5.6%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 6.6% vs 10Y 4.3%, steady
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32.9% (2020) → 28.3% (2025) · falling
Worst earnings drop36% (2022) · in CAD
Revenue +3.8%/yr
FY21 C$12.1M
FY22 C$9.6M
FY23 C$10.2M
FY24 C$9.7M
FY25 C$14.1M
Net income −1.8%/yr
FY21 C$3.4M
FY22 C$2.2M
FY23 C$2.5M
FY24 C$2.4M
FY25 C$3.1M
Character of growth · EPS growth decomposed (2012-2023) +5.5 % p.a.
Revenue per share +3.5 %

of which total revenue +4.1 % · buybacks/dilution −0.6 %

EBIT margin +1.5 %
Tax rate −1.4 %
Residual (interest, one-offs) +1.9 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Vitreous Glass Inc Fair Value". https://www.fairvalue-calculator.com/stock/VCI.V

Peer Group

Waste Management · 166 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 87 · Top 25%
Fair Value upside +27% · Top 25%
Return on equity (TTM) 75% · Top 25%
Return on assets 45% · Top 25%
Net margin (TTM) 24% · Top 25%
Operating margin (TTM) 30% · Top 25%
Revenue growth −6% · Below median
Dividend yield (TTM) 5.6% · Top 25%

Valuation Multiples vs Waste Management median · lower = cheaper

P/E (TTM) 12.2× · Cheaper than median
P/B 6.43× · Pricier than 75% of peers
P/S (TTM) 2.14× · Pricier than median
P/FCF 9.9× · Pricier than median
EV/EBITDA 6.2× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE69 · sector 3
FUTURE0 · sector 18
PAST100 · sector 26
HEALTH0 · sector 82
DIVIDEND100 · sector 45

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Waste Management stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).

Stock Price Fair Value vs Fair Value
Waste Management, Inc WM $217.76 $128.02 −41%
Republic Services, Inc RSG $220.92 $120.63 −45%
Waste Connections, Inc WCN C$230.52 C$78.67 −66%
Veolia Environnement SA VIE €32.60 €23.26 −29%
Clean Harbors, Inc CLH $311.81 $154.01 −51%
GFL Environmental Inc GFL C$57.62 C$44.27 −23%
Fomento de Construcciones y Contratas, S.A FCC €11.30 €7.30 −35%
GEM Co 002340 ¥6.67 ¥5.27 −21%
Zhejiang Weiming Environment Protection Co 603568 ¥14.86 ¥20.95 +41%
Cleanaway Waste Management Limited CWY A$2.60 A$1.18 −55%

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Frequently asked questions

Is Vitreous Glass Inc (VCI) overvalued or undervalued?
As of Aug 31, 2026, our model estimates a fair value of C$8.79 versus a price of C$6.95, about +26% upside (undervalued).
What is the fair value of VCI?
Our model-based fair value for Vitreous Glass Inc is C$8.79 (as of Aug 31, 2026), built from audited fundamentals. The current price: C$6.95.
What is the quality score of VCI?
Vitreous Glass Inc has a Quality Score of 87/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Vitreous Glass Inc (VCI)?
Our model-based price target is the fair value of C$8.79 (as of Aug 31, 2026) from 25 valuation models. Cautious scenario C$6.15, optimistic scenario C$11.02. It is a calculation from audited fundamentals, not an analyst target.
What is the Vitreous Glass Inc stock forecast for 2026?
Our models put fair value at C$8.79, about +26% upside versus a price of C$6.95 (undervalued). Cautious scenario C$6.15, optimistic scenario C$11.02. The calculation is refreshed regularly with new filings.
What is the revenue of Vitreous Glass Inc (VCI)?
Vitreous Glass Inc reported trailing-twelve-month revenue of about C$15.0M (latest available figure, as of Aug 31, 2026).
What is the net profit margin of VCI?
The net profit margin of Vitreous Glass Inc is about 24.0%, meaning it keeps roughly 24.0% of revenue as net income. Based on the latest reported figures.
Does Vitreous Glass Inc pay a dividend?
Vitreous Glass Inc currently shows a dividend yield of about 5.58% relative to its recent price (as of Aug 31, 2026).
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