Viva Energy Group Limited

VEA.AX

Oil & Gas Refining & Marketing · Energy

Price

A$2.80

-0.01 (-0.36%)

Market Cap

A$4.59B

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

Dividends

Mixed

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Winston Score History

The full picture

Viva Energy Group is an Australian energy company that refines crude oil into fuels and sells those fuels to drivers, businesses, and industrial customers across Australia. It operates the Geelong Refinery in Victoria, one of only two remaining oil refineries in Australia, and runs a large network of retail fuel stations under the Shell brand through a licensing agreement. Its customers range from everyday motorists to airlines, miners, and commercial fleets.

The company earns money by refining crude oil and selling petrol, diesel, jet fuel, and lubricants, as well as through convenience retail sales at its service stations. It operates almost entirely within Australia, making it heavily exposed to domestic fuel demand and crude oil price movements. Viva Energy is also expanding into energy solutions including EV charging and LPG, but its thin margins — typical for fuel refining and retail — mean that any sustained drop in refining margins or a faster-than-expected shift away from liquid fuels poses a meaningful risk to earnings.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-13.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-42.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

33.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$187M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Viva Energy Group Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.4% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 1.60B (2021) → 1.60B (2025)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

7.2%

Thin — 7.2% gross margin

Profit after running costs

Operating Margin

1.7%

Thin — 1.7% operating margin

Return on the money invested

ROCE

4.6%

Weak — 4.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-5.4%

Shrinking sales (-5.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

0.5%

Thin free cash flow (0.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

4.10

Heavy debt load (4.10)

Covers its interest

Interest Cover

0.85x

Dangerous — barely covers interest (0.9x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.52%

Moderate income — 2.52% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

-59.3%

Dividend cut (-59.3% YoY) — warning sign

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