Loading page content, please wait.
Rivco Australia Ltd
N/A
Updated just now
$1.43
MARKET CAP
—
P/E RATIO
—
DIV. YIELD
5.2%
FRANKING
100%
Rivco Australia Ltd provides water supply solutions to Australian irrigators and farmers. The company operates through the Permanent Water and Temporary Water segments.
View full descriptionThe Warsi Rating combines two proven approaches: value investing principles and dividend strategy. A stock must score 70+ on both to be rated Solid or higher.
Business quality and balance-sheet durability.
How much the company owes vs. what it owns
Excellent. Very low debt (0.11) means strong financial flexibility and minimal bankruptcy risk.
Current Snapshot
Current D/E
0.11x
Industry Limit
0.50x
Headroom
+0.39x
Why It Matters
Debt-to-equity shows balance-sheet risk. Lower leverage usually means more flexibility when earnings soften.
Formula
Total Debt / Shareholders' EquityMethod
Compare current D/E against the industry threshold used in the scoring framework, then assess remaining headroom.
Worked Example
This company's D/E is 0.11, meaning it carries 11 cents of debt for every $1 of equity. The general business (standard criteria) limit is 0.50, leaving 0.39 of headroom.
How to Interpret
Lower values generally imply lower refinancing pressure and lower dividend stress in downturns.
Very low debt means this company has maximum flexibility. They won't need to cut dividends to service loans during downturns - your income stream is protected by a fortress balance sheet.
Sources
Profit after production costs, before overhead
Exceptional 99.5% margins indicate strong pricing power and brand value.
Current Snapshot
10Y Avg
99.5%
Threshold
40%
Worst Year
N/A
Why It Matters
Gross margin indicates how much room a business has to absorb costs and still generate profit.
Formula
(Revenue - Cost of Goods Sold) / Revenue x 100Method
Assess both the long-term average and the weakest year. The framework checks for both level and consistency.
Worked Example
This company's current average gross margin is 99.5% — it keeps 99 cents of every revenue dollar after production costs. The threshold is 40%.
How to Interpret
Sustained high margins usually support durability. Sharp margin swings can signal weaker control or cyclical pressure.
Exceptional margins mean the company has strong pricing power - customers pay premium prices even when cheaper alternatives exist. This buffer protects profits (and dividends) even if costs rise.
Sources
Real cash left after running the business
Positive cash generation. Company produces real cash after capital expenditures - can fund dividends, buybacks, or growth.
Current Snapshot
Current FCF
$146M
Pass Rule
> $0
Status
Positive
Why It Matters
Free cash flow is the cash available after core operating and capital needs. It is central to dividend capacity.
Formula
Operating Cash Flow - Capital ExpendituresMethod
Review whether free cash flow is consistently positive and whether it is sufficient relative to dividends and debt needs.
Worked Example
This company generated $146M in free cash flow — cash left after operating costs and capital expenditure. Positive FCF means dividends are funded by real cash generation.
How to Interpret
Persistently negative free cash flow can force reliance on borrowing or equity issuance to maintain payouts.
Positive cash flow means dividends are funded by actual money, not accounting profits. As Buffett says, "Cash is fact, profit is opinion." Your income is backed by real cash generation.
Sources
Short-term assets vs. short-term debts
Current ratio of 1.35 is below ideal 1.5. Adequate but limited cushion for unexpected expenses.
Current Snapshot
Current Ratio
1.35x
Warning Floor
1.00x
Target
1.50x
Why It Matters
Liquidity supports operational stability. Companies with weak liquidity can face pressure even when long-term fundamentals are sound.
Formula
Current Assets / Current LiabilitiesMethod
Compare the current ratio to the warning floor and target level used in the framework.
Worked Example
This company's current ratio is 1.35x — it has $1.35 in short-term assets for every $1 of short-term liabilities. The target is 1.5x, with a warning floor at 1.0x.
How to Interpret
Ratios above the target suggest healthier short-term resilience; ratios below 1.0x can indicate immediate funding risk.
Limited liquidity increases the risk of dividend cuts if cash flow becomes stressed during a downturn. There's less buffer to absorb surprises.
Sources
Profit generated per $1 of shareholder investment
4.6% average is below the 20% threshold. This suggests the business may lack a durable competitive advantage.
Current Snapshot
10Y Avg
4.6%
Threshold
20.0%
Worst Year
1.2%
Why It Matters
ROE shows how effectively management turns shareholder capital into profit. High and stable ROE can signal pricing power, cost discipline, or both.
Formula
Net Income / Shareholders' Equity x 100Method
Use the 10-year average ROE and review the weakest year to check whether returns stayed resilient across cycles.
Worked Example
This company's 10-year average ROE is 4.6%, meaning each $1 of shareholder equity generates $0.05 in annual profit. The threshold is 20%, and the worst single year was 1.2%.
How to Interpret
Higher and steadier ROE generally supports stronger long-term compounding. Large drawdowns in weak years can point to fragility.
Lower ROE means your investment compounds more slowly. At 4.6%, this business needs more capital to generate the same returns as competitors. Consider whether other strengths (yield, stability) compensate for weaker profitability.
Sources
How efficiently the company turns money into profit
4.8% ROIC is below the 11.0% threshold. Company may not be earning enough to justify the money invested in it.
Current Snapshot
5Y Avg
4.8%
Threshold
11.0%
WACC Delta
-4.2pp
Why It Matters
ROIC measures capital efficiency. Businesses that repeatedly earn above their funding cost can compound value more effectively.
Formula
After-Tax Operating Profit / Invested Capital x 100Method
Use the 5-year average ROIC and compare it with industry WACC plus the required spread in this framework.
Worked Example
This company's 5-year average ROIC is 4.8%, with a cost of capital (WACC) of 9.0%. The -4.2pp gap below WACC suggests it may be destroying value on each dollar invested.
How to Interpret
A healthy spread above WACC suggests value creation; a narrow or negative spread points to weaker capital efficiency.
Returns below the cost of borrowing mean the business destroys value over time. This can erode the foundation that supports dividends — proceed with caution.
Sources
Annual dividends as percentage of stock price
Insufficient dividend history. Barsi methodology requires 6 years of data to calculate average yield.
Current Snapshot
6Y Avg Yield
N/A
6% Requirement
6.0%
Gross Yield
N/A
Why It Matters
Yield translates dividend income into a percentage of the price paid, which is central to income-first screening.
Formula
Annual Dividends per Share / Stock Price x 100Method
Use the 6-year average annual dividend for consistency and compare the result with the 6% framework requirement.
Worked Example
If annual dividends are $0.60 and the share price is $10, dividend yield is 6.0%.
How to Interpret
Higher sustainable yield improves upfront income, but unusually high yields may reflect elevated risk or weak coverage.
Without 6 years of dividend history, we can't assess whether the yield is sustainable or a one-time spike. More data is needed to evaluate income potential.
Sources
Track record of consistent dividend payments
Industry category of the business
Unknown is not a BESST sector. Non-BESST stocks receive a lower base score but can still qualify with exceptional dividend metrics.
Current Snapshot
Industry
Unknown
BESST Match
No
Score Impact
No bonus
Why It Matters
Sector classification helps contextualise risk and demand durability, which can materially affect dividend stability.
Formula
BESST Match = Sector in {Banks, Energy, Sanitation, Insurance, Telecom}Method
Match company sector or industry against BESST categories. A match adds scoring support but does not replace core dividend checks.
Worked Example
This company operates in Unknown. It does not match a BESST sector, so it receives the standard base score. Non-BESST stocks can still qualify with strong dividend metrics.
How to Interpret
Sources
Requires both dividend and earnings history to calculate payout ratio.
Rivco Australia Ltd provides water supply solutions to Australian irrigators and farmers. The company operates through the Permanent Water and Temporary Water segments. It acquires and manages a portfolio of water entitlements; and offers temporary water allocations. The company was formerly known as Duxton Water Limited and changed its name to Rivco Australia Ltd in October 2025.
The company was incorporated in 2016 and is based in Unley, Australia.
Who owns the company's shares and how much leadership has at stake
When leaders own 20%+, they win when you win and lose when you lose
A handful of professional investors are watching
Shares freely traded on the ASX by individual investors like you
The people running this company own a large chunk of it (24.9%). When leadership has their own money on the line, they tend to make decisions that benefit all shareholders — not just their salary. Professional fund managers also hold shares, which is a vote of confidence in the business.
Current Snapshot
Insider %
24.9%
Institutional %
11.4%
Float %
63.7%
Why It Matters
Ownership mix affects governance incentives, liquidity, and share-price behaviour under large portfolio rebalancing flows.
Formula
Public Float (%) = 100 - Insider Ownership (%) - Institutional Ownership (%)Method
Use reported ownership percentages, convert to percentage terms, and compute remaining public float as the residual.
Worked Example
If insiders own 24.9% and institutions own 11.4%, public float is 63.7%.
How to Interpret
Higher insider ownership can improve alignment of incentives, while dominant institutional concentration can amplify short-term price moves.
The people running this company own a large chunk of it (24.9%). When leadership has their own money on the line, they tend to make decisions that benefit all shareholders — not just their salary. Professional fund managers also hold shares, which is a vote of confidence in the business.
Sources
| Date | Insider | Type | Shares | Value |
|---|---|---|---|---|
| 30 Apr 2026 | Duerden (Stephen) Director (Non-Executive) | Acquisition at price 1.05 per share. | 3K | $3K |
| 17 Apr 2026 | Peter (Edouard Fernen) Former | Unknown | 5.4M | — |
| 27 Mar 2026 | Peter (Edouard Fernen) Non Executive Chairman | Sale at price 0.99 per share. | 114K | $113K |
| 27 Mar 2026 | Peter (Edouard Fernen) Non Executive Chairman | Sale at price 1.01 per share. | 13K | $13K |
| 23 Mar 2026 | Duerden (Stephen) Director (Non-Executive) | Unknown | 392K | — |
Company insiders have been net buyers of shares over the past 12 months. This may indicate management confidence in future prospects.
There isn't enough financial data available for Rivco Australia Ltd to calculate value or dividend scores.
•Value: Missing core financial metrics (ROE, debt, margins)
•Dividend: No dividend history available
This is common for small-cap companies, recent listings, or exploration-stage companies.
Market data sourced from third-party financial data providers. Analysis generated using Warsi Criteria — proprietary scoring algorithms for value investing and dividend income analysis. Not financial advice. Learn how we analyse stocks →
Insufficient dividend history for estimation
| Ex-Date | Pay Date | Gross | Franking | Net | Credit |
|---|---|---|---|---|---|
| 9 Oct 2025Final | 6 Nov 2025 | $0.04 | 0% | $0.04 | $0.00 |
Only 1 year of dividend history available. Barsi methodology requires 6+ years to evaluate consistency.
Current Snapshot
History
1yr
Predictability
N/A
Payout Health
N/A
Why It Matters
Payment consistency is a direct test of dividend reliability. Large cuts or skips often appear before confidence recovers.
Formula
Consecutive Years = count of years with dividend payments and no disqualifying skip/cut eventsMethod
Require at least 6 years of history, then check for skipped years and large cuts, allowing approved systemic-event exceptions.
Worked Example
This company has 1 years of dividend history (2025–2025). No suspensions detected — 1 consecutive years of payments. Predictability: N/A. Payout health: N/A. The minimum requirement is 6 years.
How to Interpret
Longer uninterrupted records generally signal stronger income reliability than high yield alone.
Without 6 years of history, we can't verify this company maintained dividends through economic cycles. Longer track records provide confidence your income will continue.
Sources
BESST alignment is a positive context signal. Non-BESST stocks can still qualify with strong yield and dividend consistency.
Non-essential businesses face demand drops during recessions — discretionary spending is first to be cut. This increases cyclical risk for dividends, but companies with decades of consistent payments can still demonstrate durability.
The GPT Group
Prime Financial Group Limited
GR Engineering Services Limited
Turners Automotive Group Limited
Tower Limited
Scroll to see more