Added to YB: 2026-04-06
Pitch date: 2026-04-05
VVA.AX [bullish]
Viva Leisure Limited
Author Info
No bio for this author
Company Info
Viva Leisure Limited operates health clubs. The company operates health clubs under the Club Lime; and franchised health clubs under the Plus Fitness brand in Australia, New Zealand, and India.
Market Cap
AUD 148.8M
Pitch Price
N/A
Price Target
3.75
Dividend
N/A
EV/EBITDA
4.87
P/E
17.44
EV/Sales
2.18
Sector
Hotels, Restaurants and Leisure
Category
growth
Founder-Led compounder hiding true earnings (Buybacks, 9x P/E, consistent growth
VVA.AX: Australian gym operator (#2 network, 202 corporate + 316 franchise clubs, 656k members). Rev +17% YoY to $116M, NPAT +168% to $5.2M but true H1 profit $8M (lease accounting hides earnings). FY26 guide >$16M underlying NPAT (mgmt calls it 'bare minimum'). TPLR segment +45% at 30-40% margin (payments/tech/retail). 78% utilization driving operating leverage. Founder owns 22%, buying back 10% of shares. Trades 9x FY26 earnings, estimates $25M FY27 profit justifies 14-16x multiple = $3.50-4.00 target (>100% upside). Risks: competition, Aussie recession, key person.
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