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Vicinity Centres (AU:VCX)
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Vicinity Centres (VCX) AI Stock Analysis

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AU:VCX

Vicinity Centres

(Sydney:VCX)

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Neutral 66 (OpenAI - 4o)
Rating:66Neutral
Price Target:
AU$2.50
▼(-0.79% Downside)
Vicinity Centres' stock score is primarily influenced by its mixed financial performance and neutral technical indicators. The attractive valuation, with a low P/E ratio and high dividend yield, provides some upside potential. However, concerns about declining revenue and free cash flow growth rates, along with increasing debt, weigh on the overall score.

Vicinity Centres (VCX) vs. iShares MSCI Australia ETF (EWA)

Vicinity Centres Business Overview & Revenue Model

Company DescriptionVicinity Centres (Vicinity or the Group) is one of Australia's leading retail property groups. With a fully integrated asset management platform, and $24 billion in retail assets under management across 63 shopping centres, it is the second largest listed manager of Australian retail property. Vicinity has a Direct Portfolio with interests in 60 shopping centres (including the DFO Brisbane business) and manages 31 assets on behalf of Strategic Partners, 28 of which are co-owned by the Group. Vicinity is listed on the Australian Securities Exchange (ASX) under the code VCX and has over 28,000 securityholders. Vicinity also has European medium term notes listed on the ASX under the code VCD.
How the Company Makes MoneyVicinity Centres generates revenue primarily through rental income derived from its retail properties, which includes long-term leases with major retailers and specialty stores. This rental income is enhanced by periodic rent reviews and incentives designed to attract and retain tenants. Additionally, the company earns revenue from management fees related to the operational oversight of its properties, as well as from development projects that increase the value and utility of its portfolio. Key partnerships with retailers and brands allow Vicinity to create exclusive retail experiences, driving foot traffic and, in turn, rental revenue. Furthermore, the company may benefit from strategic joint ventures and collaborations that enhance its market reach and operational efficiency.

Vicinity Centres Financial Statement Overview

Summary
Vicinity Centres shows a mixed financial performance. Strong gross profit margins and a stable balance sheet are offset by declining revenue and free cash flow growth rates. Increasing debt levels also pose potential risks.
Income Statement
65
Positive
Vicinity Centres shows a mixed performance in its income statement. The company has a strong gross profit margin, indicating efficient cost management. However, the net profit margin has been volatile, with a significant drop in the latest year due to a decline in revenue. The EBIT and EBITDA margins are healthy, but the negative revenue growth rate is a concern, suggesting challenges in maintaining sales momentum.
Balance Sheet
70
Positive
The balance sheet of Vicinity Centres is relatively stable. The debt-to-equity ratio is moderate, indicating a balanced approach to leveraging. Return on equity has been inconsistent, reflecting fluctuations in profitability. The equity ratio is strong, suggesting a solid capital structure. However, the increase in total debt over the years could pose a risk if not managed carefully.
Cash Flow
60
Neutral
Cash flow analysis reveals some challenges for Vicinity Centres. The operating cash flow to net income ratio is strong, indicating good cash generation relative to earnings. However, the free cash flow growth rate is negative, which could impact future investments and financial flexibility. The free cash flow to net income ratio is healthy, but the declining trend in free cash flow is a concern.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.36B1.32B1.31B1.23B1.18B1.11B
Gross Profit493.70M945.00M916.50M880.80M851.50M758.20M
EBITDA861.90M1.21B736.00M745.10M785.70M514.90M
Net Income1.00B1.00B547.10M271.50M1.22B-256.80M
Balance Sheet
Total Assets16.34B16.34B15.73B15.58B15.55B14.34B
Cash, Cash Equivalents and Short-Term Investments80.70M80.70M49.60M192.90M55.60M36.20M
Total Debt4.85B4.85B4.62B4.46B4.14B3.63B
Total Liabilities5.21B5.21B5.09B4.95B4.67B4.33B
Stockholders Equity11.13B11.13B10.64B10.64B10.89B10.01B
Cash Flow
Free Cash Flow430.20M644.60M353.10M367.50M334.90M598.70M
Operating Cash Flow651.00M651.00M690.10M702.20M589.50M599.90M
Investing Cash Flow-176.80M-176.80M-435.70M-203.20M-512.30M-126.50M
Financing Cash Flow-443.10M-443.10M-397.70M-361.70M-68.80M-655.30M

Vicinity Centres Technical Analysis

Technical Analysis Sentiment
Negative
Last Price2.52
Price Trends
50DMA
2.56
Negative
100DMA
2.50
Positive
200DMA
2.35
Positive
Market Momentum
MACD
0.01
Positive
RSI
41.59
Neutral
STOCH
22.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:VCX, the sentiment is Negative. The current price of 2.52 is below the 20-day moving average (MA) of 2.57, below the 50-day MA of 2.56, and above the 200-day MA of 2.35, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 41.59 is Neutral, neither overbought nor oversold. The STOCH value of 22.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:VCX.

Vicinity Centres Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
$15.26B18.237.99%3.99%4.75%170.39%
AU$21.21B14.817.71%4.28%5.44%231.88%
$12.24B12.069.03%4.76%0.29%83.44%
$2.17B12.193.79%4.94%3.15%1.96%
$10.27B27.183.56%4.48%12.66%
$7.83B56.701.32%5.08%4.52%
$9.07B133.720.71%3.91%-18.48%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:VCX
Vicinity Centres
2.52
0.47
22.69%
AU:DXS
Dexus
7.28
0.56
8.40%
AU:GPT
GPT Group
5.36
0.88
19.75%
AU:MGR
Mirvac Group
2.30
0.25
12.25%
AU:SCG
Scentre Group
4.07
0.76
22.89%
AU:SGP
Stockland
6.31
1.40
28.51%

Vicinity Centres Corporate Events

Vicinity Centres Updates Director’s Interest Notice for Peter Huddle
Oct 1, 2025

Vicinity Centres has announced a change in the director’s interest notice for Peter Huddle, reflecting the allocation of fully paid ordinary stapled securities as part of his FY25 Short Term Incentive award. This move signifies the company’s ongoing commitment to aligning executive compensation with performance, potentially impacting its governance and stakeholder relations positively.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.49 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Announces New Securities Quotation
Sep 15, 2025

Vicinity Centres has announced the issuance of 36,822,673 fully paid ordinary units stapled securities, which are set to be quoted on the Australian Securities Exchange (ASX) as of September 16, 2025. This move is part of a dividend or distribution plan, potentially impacting the company’s financial strategy and offering new opportunities for investors and stakeholders in the retail property sector.

The most recent analyst rating on (AU:VCX) stock is a Sell with a A$2.42 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Announces Director’s Interest Change
Sep 10, 2025

Vicinity Centres has announced a change in the director’s interest, specifically regarding Peter Huddle, who has been allocated fully paid ordinary stapled securities following the vesting of performance rights under the FY2022 Equity Incentive Plan. This change reflects the company’s ongoing commitment to aligning executive incentives with performance, potentially impacting the company’s governance and stakeholder confidence positively.

The most recent analyst rating on (AU:VCX) stock is a Sell with a A$2.42 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Issues New Equity Securities
Sep 10, 2025

Vicinity Centres announced the issuance of 3,213,366 fully paid ordinary units stapled securities, effective September 8, 2025. This move reflects the company’s ongoing efforts to manage its equity securities, potentially impacting its market positioning and providing stakeholders with insights into its strategic financial operations.

The most recent analyst rating on (AU:VCX) stock is a Sell with a A$2.42 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Updates Dividend Distribution Details
Sep 4, 2025

Vicinity Centres has updated its previous announcement regarding its dividend distribution, specifically addressing the Dividend Reinvestment Plan (DRP) Price and the AUD/NZD exchange rate, along with the NZD equivalent distribution amount for security holders opting for distributions in NZD. This update, which relates to the financial period ending on June 30, 2025, reflects the company’s commitment to providing clear and timely financial information to its stakeholders, potentially impacting investor decisions and market perceptions.

The most recent analyst rating on (AU:VCX) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Announces 2025 Annual General Meeting Details
Aug 21, 2025

Vicinity Centres has announced that its 2025 Annual General Meeting will be held on November 6, 2025, with the deadline for director nominations set for September 4, 2025. This meeting is significant for stakeholders as it provides an opportunity for engagement and decision-making regarding the company’s governance and future direction.

The most recent analyst rating on (AU:VCX) stock is a Sell with a A$2.38 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Reports Strong FY25 Earnings Growth
Aug 20, 2025

Vicinity Centres is a prominent Australian retail property group specializing in managing and developing shopping centers across the country’s major metropolitan markets. With a focus on premium assets, the company aims to create vibrant retail-led destinations that cater to community needs.

Michael Hawker AM to Retire from Vicinity Centres Board
Aug 20, 2025

Vicinity Centres announced the retirement of Michael Hawker AM from its Board, effective 31 August 2025. Hawker, who joined the Board in November 2022, contributed significantly through his roles in various committees. Chairman Trevor Gerber expressed gratitude for Hawker’s insights and experience, ensuring that the Board remains strong with its remaining nine directors.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Releases 2025 Annual Report Emphasizing Community and Cultural Commitment
Aug 20, 2025

Vicinity Centres has released its 2025 Annual Report, highlighting its financial and non-financial performance for the fiscal year. The report underscores the company’s dedication to ethical decision-making, diversity, inclusion, and risk management. Vicinity Centres also acknowledges the cultural heritage of the Traditional Custodians of the land, reflecting its commitment to reconciliation and community engagement.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Releases June 2025 Property Portfolio Insights
Aug 20, 2025

Vicinity Centres has released its June 2025 Direct Portfolio Property Book, which is part of its broader financial and non-financial performance reporting for the fiscal year 2025. This release, authorized by the company’s Disclosure Committee, provides insights into the past performance of its property portfolio, although it cautions against using this as an indicator of future results. The announcement is significant for stakeholders as it forms part of the company’s comprehensive annual reporting suite, including the 2025 Annual Report and Corporate Governance Statement, highlighting Vicinity’s ongoing commitment to transparency and governance.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Implements DRP for FY25 Final Distribution
Aug 20, 2025

Vicinity Centres has announced that its distribution reinvestment plan (DRP) will apply to the FY25 final distribution for the six months ending June 30, 2025. A 1.0% discount will be applied to securities issued under the DRP, which will be priced based on the average market price during a specified period. This move is likely to impact the company’s financial operations by potentially increasing shareholder investment through reinvestment of distributions.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Reports Strong FY25 Results
Aug 20, 2025

Vicinity Centres has announced its FY25 annual results, highlighting key performance metrics and developments. The report suggests a positive trajectory in the company’s portfolio performance and financial results, indicating a strong market position and potential growth opportunities for stakeholders.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Achieves Strong FY25 Results with Strategic Investments
Aug 20, 2025

Vicinity Centres reported a strong financial performance for FY25, with a statutory net profit after tax of $1,004.6 million and Funds From Operations (FFO) per security at the top end of its guidance range. The company executed its investment strategy by acquiring a 50% stake in Lakeside Joondalup and divesting non-strategic assets at a premium. Key developments included the opening of Chadstone’s Market Pavilion and progress on Chatswood Chase, positioning Vicinity as a leader in premium retail spaces. The company’s strategic decisions and investments are expected to drive sustained income and value growth, supported by strong retail demand and a tightening supply environment.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Announces Upcoming Dividend Distribution
Aug 20, 2025

Vicinity Centres has announced a distribution of AUD 0.0605 per fully paid ordinary/unit stapled security, with an ex-date of August 25, 2025, and a payment date of September 16, 2025. This announcement reflects the company’s ongoing commitment to providing returns to its investors, which could positively impact its market positioning and stakeholder confidence.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Unveils 2025 Annual Report Highlighting Key Achievements
Aug 20, 2025

Vicinity Centres has released its 2025 Annual Report, highlighting its financial and non-financial performance for the fiscal year. The report includes insights into the company’s operating and financial review, sustainability efforts, and governance practices, providing stakeholders with a comprehensive overview of its activities and future outlook.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

Vicinity Centres Reports Strong Profit Growth and Increased Distributions for FY25
Aug 20, 2025

Vicinity Centres reported a significant increase in net profit for the financial year ending June 30, 2025, with an 83.6% rise to $1,004.6 million. Despite a modest revenue growth of 0.4%, the company’s net tangible assets per security increased by 4.4%, reflecting a strong financial position. The company also announced final and interim distributions, with a distribution reinvestment plan offering a 1% discount, indicating a focus on rewarding shareholders and maintaining financial stability.

The most recent analyst rating on (AU:VCX) stock is a Hold with a A$2.40 price target. To see the full list of analyst forecasts on Vicinity Centres stock, see the AU:VCX Stock Forecast page.

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.Date of analysis: Nov 01, 2025