Financials Can Don Hydro Power

Equities

SJD

VN000000SJD1

Independent Power Producers

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
14,700 VND -0.68% Intraday chart for Can Don Hydro Power -.--% -2.00%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,476,570 1,204,026 1,197,126 1,435,171 1,027,930 1,034,979
Enterprise Value (EV) 1 1,569,290 1,306,699 1,378,986 1,639,617 1,070,447 1,064,444
P/E ratio 7.74 x 8.29 x 11.8 x 8.97 x 6.68 x 7.97 x
Yield 11.7% - 7.49% 7.21% 9.4% -
Capitalization / Revenue 2.98 x 2.83 x 3.61 x 3.37 x 2.26 x 2.4 x
EV / Revenue 3.16 x 3.07 x 4.16 x 3.85 x 2.35 x 2.47 x
EV / EBITDA 4.9 x 4.67 x 7.24 x 5.8 x 3.61 x 4.03 x
EV / FCF 5.87 x 9.21 x 31.7 x 61.4 x 7.62 x 5.64 x
FCF Yield 17% 10.9% 3.16% 1.63% 13.1% 17.7%
Price to Book 1.53 x 1.3 x 1.36 x 1.52 x 0.95 x 1.03 x
Nbr of stocks (in thousands) 68,999 68,999 68,999 68,999 68,989 68,999
Reference price 2 21,400 17,450 17,350 20,800 14,900 15,000
Announcement Date 3/1/19 6/8/21 6/8/21 3/23/22 3/28/23 3/26/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 496,322 425,123 331,270 425,349 455,267 430,810
EBITDA 1 320,042 279,531 190,414 282,612 296,429 264,009
EBIT 1 226,532 203,732 128,019 202,328 211,234 177,633
Operating Margin 45.64% 47.92% 38.64% 47.57% 46.4% 41.23%
Earnings before Tax (EBT) 1 215,403 192,428 128,267 199,967 192,511 163,728
Net income 1 190,850 153,703 101,085 159,934 153,936 129,887
Net margin 38.45% 36.15% 30.51% 37.6% 33.81% 30.15%
EPS 2 2,766 2,106 1,465 2,318 2,231 1,882
Free Cash Flow 1 267,247 141,853 43,538 26,701 140,428 188,662
FCF margin 53.85% 33.37% 13.14% 6.28% 30.85% 43.79%
FCF Conversion (EBITDA) 83.5% 50.75% 22.86% 9.45% 47.37% 71.46%
FCF Conversion (Net income) 140.03% 92.29% 43.07% 16.69% 91.23% 145.25%
Dividend per Share 2 2,500 - 1,300 1,500 1,400 -
Announcement Date 3/1/19 6/8/21 6/8/21 3/23/22 3/28/23 3/26/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 92,719 102,673 181,860 204,446 42,517 29,464
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.2897 x 0.3673 x 0.9551 x 0.7234 x 0.1434 x 0.1116 x
Free Cash Flow 1 267,247 141,853 43,538 26,701 140,428 188,662
ROE (net income / shareholders' equity) 18.4% 16% 10.9% 17.4% 15.1% 12.3%
ROA (Net income/ Total Assets) 9.78% 9.02% 5.98% 9.37% 9.37% 7.98%
Assets 1 1,951,490 1,703,721 1,691,735 1,706,040 1,643,611 1,628,494
Book Value Per Share 2 13,953 13,470 12,713 13,655 15,761 14,593
Cash Flow per Share 2 707.0 1,418 869.0 427.0 2,659 2,478
Capex 1 3,659 4,790 644 1,080 322 249
Capex / Sales 0.74% 1.13% 0.19% 0.25% 0.07% 0.06%
Announcement Date 3/1/19 6/8/21 6/8/21 3/23/22 3/28/23 3/26/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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