Loading…
Australian fuel refiner and retailer, running the Geelong refinery and Shell-branded service stations plus convenience retail.
Australian fuel refiner and retailer, running the Geelong refinery and Shell-branded service stations plus convenience retail.
Earns a refining margin at Geelong, the gap between crude cost and fuel sale prices, and a marketing margin on selling that fuel and imported fuel through Shell-branded sites and to business customers. It uses the Shell brand under licence. Convenience stores, added through acquisitions, supply income less tied to fuel prices.
In one line: An Australian fuel refiner-retailer under the Shell brand.
Moat: narrow (scale, distribution, brand). One of only a few Australian refineries plus an extensive branded retail network are costly to replicate.
Headquarters: Melbourne, Australia · Founded: 1954 · Employees: 15,174
Size Viva Energy (VEA.AX) is an Australia Energy company (Oil Refining/Marketing) with a market value of $3.04B, the 101st largest of 316 Australia companies the cockpit tracks. Shares closed at A$2.66 on 6 Nov 2026.
Performance Over six months the shares gained 19.3%, against +4.4% for the median peer and +4.1% for the Australia market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue fell 2.1% over the last twelve months (peer median +16.4%); the operating margin is 4.1% (peer median 6.4%).
Valuation It trades at 7.8× forward earnings against a peer median of 7.0× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -33 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.5 points above its cost of capital (5.6% WACC).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | A$30.1B | A$28.5B | A$28.8B | A$26.7B | A$26.4B |
| Revenue growth | — | -1% | +8% | +1% | — |
| Gross profit | A$2.75B | A$1.79B | A$1.54B | A$1.34B | A$1.69B |
| EBITDA | A$1.86B | A$941M | A$744M | A$688M | A$1.24B |
| Net income | A$226M | -A$421M | -A$76.3M | A$3.80M | A$514M |
| Free cash flow | A$547M | A$146M | A$10.3M | A$182M | A$803M |
| Capital expenditure | A$428M | A$558M | A$588M | A$493M | A$304M |
| Total debt | n/a | A$5.86B | A$5.53B | A$3.00B | A$2.46B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Viva Energy VEA.AX | $3.04B | +19% | -2% | 4% | 7.8× | -15.1% |
| Ampol ALD.AX | $5.95B | +6% | +15% | 6% | 10.8× | -14.0% |
| BP PLC Sponsored ADR BP | $119B | +3% | +26% | 14% | 6.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VEA.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.9% | -17.0% | 10th highest of 19 |
| 6-month return | +19.3% | +4.4% | 6th highest of 19 |
| Distance from 52-week high | -18.9% | -27.6% | 5th highest of 19 |
| Revenue growth (TTM) | -2.1% | +16.4% | 4th lowest of 19 |
| Operating margin | 4.1% | 6.4% | 7th lowest of 19 |
| Forward P/E | 7.8× | 7.0× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -15.1% | -9.1% | 3rd least demanding of 13 |
| Growth delivered (Del g) | +18.2% | +13.2% | 4th highest of 13 |
| Hurdle (Req g minus delivered) | -33.2 pp | -23.6 pp | 2nd least demanding of 13 |
| ROIC minus cost of capital | +6.5 pp | +10.4 pp | 8th lowest of 19 |
| EV / EBITDA | 5.2× | 4.6× | 5th most expensive of 13 |
| Net debt / EBITDA | 2.9× | 1.3× | 3rd most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Viva Energy VEA.AX | Australia | $3.04B | +19% | -2% | 4% | 7.8× | -15.1% | +18.2% |
| DOF DOFG.OL | Norway | $3.24B | -12% | +22% | 26% | 7.8× | 0.9% | +28.0% |
| Mangalore Refinery & Petrochemicals MRPL.NS | India | $3.26B | +13% | +38% | 6% | 4.6× | -6.0% | +22.9% |
| Icahn Enterprises L.P IEP | United States | $3.38B | -41% | +16% | -7% | 9.5× | n/a | n/a |
| Par Pacific PARR | United States | $3.41B | +6% | +29% | 13% | 3.4× | n/a | n/a |
| Calumet CLMT | United States | $3.48B | +24% | +13% | 1% | 9.1× | 39.0% | +12.8% |
| Sinopec Shanghai Petrochemical 0338.HK | Hong Kong | $3.71B | -8% | -6% | -2% | 20.8× | n/a | n/a |
| Cosmo Energy 5021.T | Japan | $3.74B | -10% | 0% | 9% | 7.0× | -18.5% | +3.7% |
| CVR Energy CVI | United States | $3.83B | +14% | +34% | 11% | 5.2× | -17.9% | +12.8% |
| Delek US DK | United States | $3.92B | +39% | +11% | 6% | 3.2× | -10.1% | +8.0% |
| Chennai Petroleum CHENNPETRO.NS | India | $2.27B | +34% | +31% | 10% | 3.5× | -12.0% | +28.6% |
| Castrol India CASTROLIND.NS | India | $2.00B | +3% | +17% | 20% | 17.9× | 10.7% | +13.8% |
| Ampol ALD.AX | Australia | $5.95B | +6% | +15% | 6% | 10.8× | -14.0% | +15.4% |
| PBF Energy PBF | United States | $8.16B | +65% | +32% | 8% | 2.6× | n/a | n/a |
| North Huajin Chemical Industries 000059.SZ | China | $1.10B | -20% | +3% | 1% | 14.1× | -8.0% | +4.6% |
| North Atlantic Energies NAE.PA | France | $1.09B | +30% | -23% | 3% | n/a | n/a | n/a |
| Hindustan Petroleum HINDPETRO.NS | India | $8.67B | -2% | +17% | 0% | n/a | 24.7% | +13.6% |
| S-Oil 010950.KS | South Korea | $9.00B | -21% | +19% | 10% | 3.5× | n/a | n/a |
| Idemitsu Kosan 5019.T | Japan | $9.54B | -9% | -3% | 6% | 7.1× | -12.8% | +12.2% |