Vicinity Centres (VCX.AX)

Real Estate · ASX · Australia

A$2.60+0.58% today

Fundamentals

Market capA$12.25B

P/E ratio9.1

Dividend yield4.70%

Revenue growth (YoY)+1.2%

Profit margin94.9%

Return on equity11.7%

52-week rangeA$2.22 to A$2.69

Next earnings2026-08-19

Valuation and ratings

DCF fair valueA$5.81

Upside to fair value+123.9%

Analyst target (mean)A$2.56

Analyst rangeA$2.30 to A$2.80

Analysts covering12

Consensus viewhold

Moat score72/100

Overall rating87/100, Strong Buy

Vicinity Centres trades at A$2.60, which is 124% below the A$5.81 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.

Our moat model scores it 72 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.

It changes hands at 9.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.

About Vicinity Centres

Vicinity Centres (Vicinity or the Group) is one of Australia's leading retail property groups. With a fully integrated asset management platform, and 25 billion dollars in retail assets under management across 49 shopping centres, making it the second largest listed manager of Australian retail property. The Group has a Direct Portfolio with interests in 48 shopping centres (including the DFO Brisbane business) and manages 25 assets on behalf of Strategic Partners. Vicinity Centres was incorporated in 2005 in Australia.

Industry: REIT - RetailEmployees: 1,246HQ: Australia

VCX.AX passes 6 of our 30 screens today

Each screen prints the exact criteria it used, and the circumstances in which it is wrong.

Undervalued on cash flow

Companies trading at least 25% below what our discounted cash flow model says the future cash is worth today.

Quality at a fair price

Good businesses, not cheap ones. A wide moat and a strong rating, at a multiple that has not run away.

Deep value, with a pulse

A very low earnings multiple is usually a warning. This screen demands a low multiple AND evidence the business still works.

Dividend powerhouses

Yields above 3%, filtered for the one thing yield screens never check: whether the company can actually afford it.

Low volatility defensives

Companies that move less than the market and pay you to wait. The holdings that let you sleep, and let you hold everything else.

Highest conviction

The best overall scores in our universe, restricted to companies where we actually hold enough data to have an opinion worth reading.

Common questions

Is Vicinity Centres (VCX.AX) undervalued?

Against our discounted cash flow estimate of A$5.81, VCX.AX at A$2.60 is 124% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.

What is VCX.AX's P/E ratio?

VCX.AX trades at 9.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.

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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.