Financials Century Synthetic Fiber Corporation

Equities

STK

VN000000STK5

Textiles & Leather Goods

End-of-day quote Ho Chi Minh S.E. Other stock markets 06:00:00 2024-05-06 pm EDT			5-day change	1st Jan Change
29,400 ^VND	+0.17%		+3.89%	+13.29%

Apr. 22	Century Synthetic Fiber Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Jan. 22	Century Synthetic Fiber Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,241,258	1,425,073	3,859,288	2,250,110	2,441,772	2,797,026	-	-
Enterprise Value (EV) ¹	1,241,258	1,425,073	3,859,288	2,250,110	2,441,772	2,797,026	2,797,026	2,797,026
P/E ratio	5.78 x	10.3 x	14.4 x	7.9 x	25.9 x	14.8 x	11.6 x	8.24 x
Yield	8.55%	7.18%	2.65%	-	-	3.06%	3.57%	5.44%
Capitalization / Revenue	0.56 x	0.81 x	1.89 x	1.06 x	1.71 x	1.34 x	1.07 x	0.93 x
EV / Revenue	0.56 x	0.81 x	1.89 x	1.06 x	1.71 x	1.34 x	1.07 x	0.93 x
EV / EBITDA	3.06 x	4.64 x	9.99 x	5.7 x	12 x	7.45 x	5.36 x	3.97 x
EV / FCF	7.69 x	3.22 x	13 x	97.4 x	-2.51 x	-18.2 x	4.3 x	4.71 x
FCF Yield	13%	31.1%	7.71%	1.03%	-39.8%	-5.51%	23.2%	21.2%
Price to Book	1.15 x	1.32 x	3.18 x	1.61 x	-	1.66 x	1.52 x	1.35 x
Nbr of stocks (in thousands)	81,336	78,413	78,413	94,096	94,095	95,137	-	-
Reference price ²	15,261	18,174	49,217	23,913	25,950	29,400	29,400	29,400
Announcement Date	1/20/20	1/20/21	1/20/22	1/18/23	1/22/24	-	-	-

¹VND in Million²VND

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,228,979	1,765,666	2,042,389	2,114,532	1,425,625	2,091,400	2,610,000	3,019,500
EBITDA ¹	405,740	307,422	386,221	394,461	203,604	375,500	522,000	705,000
EBIT ¹	248,355	162,907	275,794	288,100	111,721	229,500	301,750	415,000
Operating Margin	11.14%	9.23%	13.5%	13.62%	7.84%	10.97%	11.56%	13.74%
Earnings before Tax (EBT) ¹	253,085	163,360	285,706	269,708	90,539	189,800	263,400	398,500
Net income ¹	214,556	143,405	278,447	240,371	87,338	173,800	244,600	370,500
Net margin	9.63%	8.12%	13.63%	11.37%	6.13%	8.31%	9.37%	12.27%
EPS ²	2,638	1,763	3,423	3,026	1,003	1,992	2,544	3,567
Free Cash Flow ¹	161,383	442,980	297,551	23,105	-973,034	-154,000	650,000	594,000
FCF margin	7.24%	25.09%	14.57%	1.09%	-68.25%	-7.36%	24.9%	19.67%
FCF Conversion (EBITDA)	39.78%	144.1%	77.04%	5.86%	-	-	124.52%	84.26%
FCF Conversion (Net income)	75.22%	308.9%	106.86%	9.61%	-	-	265.74%	160.32%
Dividend per Share ²	1,304	1,304	1,304	-	-	900.0	1,050	1,600
Announcement Date	1/20/20	1/20/21	1/20/22	1/18/23	1/22/24	-	-	-

¹VND in Million²VND

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 S1	2023 Q1	2023 Q2	2023 Q4
Net sales ¹	-	-	-	352,283
EBITDA	-	-	-	-
EBIT	-	-	-	-
Operating Margin	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-
Net income ¹	140,854	1,629	37,515	31,589
Net margin	-	-	-	8.97%
EPS	1,732	17.39	458.0	-
Dividend per Share	-	-	-	-
Announcement Date	7/19/21	4/19/23	7/19/23	1/22/24

¹VND in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	161,383	442,980	297,551	23,105	-973,034	-154,000	650,000	594,000
ROE (net income / shareholders' equity)	21.5%	13.3%	23.8%	17.2%	5.51%	10.1%	11.1%	16.1%
ROA (Net income/ Total Assets)	10.2%	7.6%	15.2%	11.7%	3.43%	5.96%	7.83%	10.1%
Assets ¹	2,094,185	1,886,911	1,837,609	2,047,178	2,550,027	2,916,107	3,125,879	3,686,567
Book Value Per Share ²	13,318	13,797	15,479	14,869	-	17,726	19,334	21,828
Cash Flow per Share	-	5,447	-	-	-	-	-	-
Capex ¹	6,142	-	23,883	47,917	949,806	978,000	93,500	79,500
Capex / Sales	0.28%	-	1.17%	2.27%	66.62%	46.76%	3.58%	2.63%
Announcement Date	1/20/20	1/20/21	1/20/22	1/18/23	1/22/24	-	-	-

¹VND in Million²VND

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Century Synthetic Fiber Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

29,400 VND

Average target price

32,041 VND

Spread / Average Target

+8.98%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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