Via Renewables, Inc. Stock Research

Market Summary

USD10.72+0.43

Market Closed

4.18%

VIA Stock Price

VIA RSI Chart

VIA Valuation

Market Cap

266.6M

Price/Earnings (Trailing)

63.93

Price/Sales (Trailing)

0.6

EV/EBITDA

7.4

Price/Free Cashflow

21.06

VIA Price/Sales (Trailing)

VIA Profitability

EBT Margin

1.40%

Return on Equity

7.19%

Return on Assets

1.27%

Free Cashflow Yield

4.75%

VIA Fundamentals

VIA Revenue

Revenue (TTM)

469.9M

Revenue Y/Y

5.52%

Revenue Q/Q

13.34%

VIA Earnings

Earnings (TTM)

-5.6M

Earnings Y/Y

-101.44%

Earnings Q/Q

97.95%

Price Action

52 Week Range

9.4042.21

(Low)(High)

Last 7 days

0.5%

Last 30 days

2.3%

Last 90 days

-62.4%

Trailing 12 Months

-73.2%

VIA Financial Health

Current Ratio

3.14

Debt/Equity

1.98

Debt/Cashflow

0.13

VIA Investor Care

Dividend Yield

35.23%

Dividend/Share (TTM)

3.63

Shares Dilution (1Y)

1.84%

Diluted EPS (TTM)

-4.91

Financials for Via Renewables

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	1.5%	470	463	448	429	413
Gross Profit	-	142	-	-	-	-
S&GA Expenses	3.7%	64.00	62.00	56.00	49.00	47.00
Costs and Expenses	11.3%	485	436	432	365	337
EBITDA	-60.9%	31.00	78.00	92.00	-	-
EBITDA Margin	-62.6%	0.07*	0.18*	0.22*	-	-
Earnings Before Taxes	-259.2%	-28.15	18.00	6.00	53.00	66.00
EBT Margin	-88.7%	0.01*	0.12*	0.16*	-	-
Interest Expenses	19.3%	9.00	7.00	6.00	5.00	5.00
Net Income	-173.7%	-5.58	8.00	3.00	18.00	24.00
Net Income Margin	-80.0%	0.01*	0.05*	0.06*	-	-
Free Cahsflow	-7.6%	13.00	14.00	39.00	-	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-3.6%	319	331	328	349	353
Current Assets	-7.7%	165	179	176	199	202
Cash Equivalents	34.2%	45.00	34.00	40.00	43.00	51.00
Inventory	-87.4%	1.00	4.00	5.00	2.00	0.00
Net PPE	-0.1%	5.00	5.00	5.00	4.00	4.00
Goodwill	0%	120	120	120	120	120
Liabilities	1.4%	218	215	175	183	192
Current Liabilities	-5.0%	88.00	92.00	56.00	57.00	70.00
Long Term Debt	-	115	-	-	-	-
LT Debt, Non Current	-	115	-	-	-	-
Shareholder's Equity	-69.0%	13.00	43.00	58.00	79.00	73.00
Retained Earnings	-9.0%	2.00	2.00	3.00	9.00	9.00
Additional Paid-In Capital	-10.8%	38.00	43.00	57.00	56.00	55.00
Accumulated Depreciation	-5.3%	3.00	3.00	-	-	-
Shares Outstanding	0.7%	3.00	3.00	3.00	-	-
Minority Interest	-72.5%	-24.55	-14.23	8.00	15.00	11.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	52.3%	25.00	16.00	15.00	16.00	41.00
Share Based Compensation	10.3%	4.00	3.00	4.00	4.00	3.00
Cashflow From Investing	46.9%	-3.65	-6.87	-9.22	-10.61	-9.59
Cashflow From Financing	39.9%	-29.65	-49.30	-61.69	-64.89	-59.04
Dividend Payments	0.6%	12.00	11.00	11.00	11.00	11.00
Buy Backs	-	0.00	-	-	-	-

Risks for VIA

What is the probability of a big loss on VIA?

65.8%

Probability that Via Renewables stock will be more than 20% underwater in next one year

60.8%

Probability that Via Renewables stock will be more than 30% underwater in next one year.

38.5%

Probability that Via Renewables stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does VIA drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Via Renewables was unfortunately bought at previous high price.

Drawdowns

Returns for VIA

Cumulative Returns on VIA

-19.6%

7-Year Cumulative Returns

-21.4%

5-Year Cumulative Returns

-31.8%

3-Year Cumulative Returns

What are the long-term rolling returns for VIA?

FIve years rolling returns for Via Renewables.

Annualized Returns

Which funds bought or sold VIA recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	sold off	-100	-38,000	-	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	new	-	28,000	28,000	-%
2023-05-18	JPMORGAN CHASE & CO	new	-	193,000	193,000	-%
2023-05-18	JPMORGAN CHASE & CO	sold off	-100	-2,750,000	-	-%
2023-05-16	JANE STREET GROUP, LLC	sold off	-100	-131,899	-	-%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	sold off	-100	-184,292	-	-%
2023-05-15	PNC Financial Services Group, Inc.	sold off	-100	-122,819	-	-%
2023-05-15	Legal & General Group Plc	new	-	4,999	4,999	-%
2023-05-15	Legal & General Group Plc	sold off	-100	-6,970	-	-%
2023-05-15	PRICE T ROWE ASSOCIATES INC /MD/	new	-	330,000	330,000	-%

Latest Funds Activity

Are funds buying VIA calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own VIA

No. of Funds

Via Renewables News

Schedule 13G FIlings of Via Renewables

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
May 23, 2023	maxwell w keith iii	65.8%	4,755,798	SC 13D/A
Apr 06, 2023	blackrock inc.	0.0%	0	SC 13G/A
Feb 13, 2023	renaissance technologies llc	5.09%	806,648	SC 13G/A
Feb 01, 2023	blackrock inc.	5.7%	902,105	SC 13G/A
Feb 11, 2022	renaissance technologies llc	6.27%	976,848	SC 13G/A
Feb 03, 2022	blackrock inc.	5.6%	867,729	SC 13G

VIA Fair Value

Show Fair-Value

Recent SEC filings of Via Renewables

View All Filings

Date Filed	Form Type	Document
Jun 01, 2023	4	Insider Trading
Jun 01, 2023	8-K	Current Report
May 23, 2023	SC 13D/A	13D - Major Acquisition
May 22, 2023	4	Insider Trading
May 22, 2023	4	Insider Trading
May 22, 2023	4	Insider Trading
May 22, 2023	4	Insider Trading
May 22, 2023	4	Insider Trading
May 22, 2023	4	Insider Trading
May 04, 2023	10-Q	Quarterly Report

Latest Insider Trading transactions for VIA

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-31	Maxwell W Keith III	gifted	-	-	-6,150	chief executive officer
2023-05-18	Konikowski Paul	sold (taxes)	-7,014	12.46	-563	chief operating officer
2023-05-18	Konikowski Paul	acquired	-	-	2,291	chief operating officer
2023-05-18	Barajas Mike	sold (taxes)	-13,955	12.46	-1,120	chief financial officer
2023-05-18	Barajas Mike	acquired	-	-	4,570	chief financial officer
2023-05-18	Clay Barbara	acquired	-	-	1,716	acting general counsel and sec
2023-05-18	Maxwell W Keith III	sold (taxes)	-183,411	12.46	-14,720	chief executive officer
2023-05-18	Maxwell W Keith III	acquired	-	-	36,768	chief executive officer
2023-05-18	Bush Amanda	acquired	-	-	1,455	-
2023-05-18	Hartwick Kenneth Michael	acquired	-	-	3,297	-

About Via Renewables

William K. Maxwell

https://viarenewables.com/

170

Via Renewables, Inc., through its subsidiaries, operates as an independent retail energy services company in the United States. It operates in two segments, Retail Electricity and Retail Natural Gas. The Retail Electricity segment engages in the transmission and sale of electricity to residential and commercial customers. The Retail Natural Gas segment is involved in the transportation, distribution, and sale of natural gas to residential and commercial customers. As of March 2, 2022, the company operated in 101 utility service territories across 19 states and the District of Columbia. It has approximately 408,000 residential customer equivalents. The company was formerly known as Spark Energy, Inc. and changed its name to Via Renewables, Inc. in August 2021. Via Renewables, Inc. was founded in 1999 and is headquartered in Houston, Texas.

VIA Income Statement

2023-03-31

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Retail revenues	$ 135,125	$ 128,058
Net asset optimization expense	(3,273)	(904)
Total Revenues	131,852	127,154
Operating Expenses:
Retail cost of revenues	117,441	68,707
General and administrative	17,225	14,935
Depreciation and amortization	3,336	5,184
Total Operating Expenses	138,002	88,826
Operating (loss) income	(6,150)	38,328
Other (expense) income:
Interest expense	(2,697)	(1,307)
Interest and other income	80	48
Total other expenses	(2,617)	(1,259)
(Loss) income before income tax expense	(8,767)	37,069
Income tax (benefit) expense	(1,996)	6,044
Net (loss) income	(6,771)	31,025
Less: Net (loss) income attributable to non-controlling interests	(6,584)	18,052
Net (loss) income attributable to Via Renewables, Inc. stockholders	(187)	12,973
Less: Dividend on Series A Preferred Stock	2,544	1,951
Net (loss) income attributable to stockholders of Class A common stock, basic	(2,731)	11,022
Net (loss) income attributable to stockholders of Class A common stock, diluted	$ (2,731)	$ 11,022
Net (loss) income attributable to Via Renewables, Inc. per share of Class A common stock
Basic (in dollars per share)	$ (0.86)	$ 3.52
Diluted (in dollars per share)	$ (1.26)	$ 3.49
Weighted average shares of Class A common stock outstanding
Basic (in shares)	3,173	3,131
Diluted (in shares)	7,173	3,159

VIA Balance Sheet

2023-03-31

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 45,162	$ 33,658
Restricted cash	0	1,693
Accounts receivable, net of allowance for doubtful accounts of $4,612 at March 31, 2023 and $4,335 at December 31, 2022	65,309	81,466
Accounts receivable—affiliates	5,805	6,455
Inventory	556	4,405
Fair value of derivative assets, net	43	1,632
Customer acquisition costs, net	4,283	3,530
Customer relationships, net	704	2,520
Deposits	9,591	10,568
Renewable energy credit asset	24,877	24,251
Other current assets	8,878	8,749
Total current assets	165,208	178,927
Property and equipment, net	4,686	4,691
Fair value of derivative assets, net	0	666
Customer acquisition costs, net	1,756	1,683
Customer relationships, net	396	481
Deferred tax assets	23,181	20,437
Goodwill	120,343	120,343
Other assets	3,403	3,722
Total assets	318,973	330,950
Current liabilities:
Accounts payable	28,139	53,296
Accounts payable—affiliates	322	265
Accrued liabilities	8,808	8,431
Renewable energy credit liability	17,107	13,722
Fair value of derivative liabilities, net	33,120	16,132
Other current liabilities	81	322
Total current liabilities	87,577	92,168
Long-term liabilities:
Fair value of derivative liabilities, net	4,313	2,715
Long-term portion of Senior Credit Facility	111,000	100,000
Subordinated debt—affiliates	15,000	20,000
Other long-term liabilities	0	18
Total liabilities	217,890	214,901
Commitments and contingencies (Note 12)
Series A Preferred Stock, par value $0.01 per share, 20,000,000 shares authorized, 3,567,543 shares issued and outstanding at March 31, 2023 and December 31, 2022	87,880	87,713
Stockholders' equity:
Additional paid-in capital	38,244	42,871
Accumulated other comprehensive loss	(40)	(40)
Retained earnings	1,886	2,073
Treasury stock, at cost, 28,919 shares at March 31, 2023 and December 31, 2022	(2,406)	(2,406)
Total stockholders' equity	37,756	42,570
Non-controlling interest in Spark HoldCo, LLC	(24,553)	(14,234)
Total equity	13,203	28,336
Total liabilities, Series A Preferred Stock and Stockholders' equity	318,973	330,950
Common Class A
Stockholders' equity:
Common stock	32	32
Common Class B
Stockholders' equity:
Common stock	$ 40	$ 40