Financials Coteccons Construction

Equities

CTD

VN000000CTD4

Construction & Engineering

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
66,300 VND +1.84% Intraday chart for Coteccons Construction +8.69% -3.63%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 12,511,474 3,913,809 5,927,933 8,087,612 2,416,020 6,724,824 6,625,360 -
Enterprise Value (EV) 1 8,051,583 -128,632 2,680,208 4,803,938 2,416,020 6,724,824 6,625,360 6,625,360
P/E ratio 8.72 x 5.79 x 13.5 x 336 x 118 x 130 x - -
Yield 1.88% 5.85% 3.91% 0.91% - - - -
Capitalization / Revenue 0.44 x 0.16 x 0.41 x 0.89 x 0.17 x 1 x 0.37 x 0.34 x
EV / Revenue 0.44 x 0.16 x 0.41 x 0.89 x 0.17 x 1 x 0.37 x 0.34 x
EV / EBITDA 8,800,006 x 5,610,048 x 12,659,044 x -56,451,418 x -17,046,001 x - - -
EV / FCF -11.7 x -9.64 x - 25.2 x -1.33 x - 8.2 x 17.6 x
FCF Yield -8.54% -10.4% - 3.97% -75.4% - 12.2% 5.69%
Price to Book 1.52 x 0.47 x 0.69 x 0.99 x 0.3 x - 0.8 x 0.58 x
Nbr of stocks (in thousands) 104,262 101,723 101,723 98,479 97,914 97,745 99,930 -
Reference price 2 120,000 38,475 58,275 82,125 24,675 68,800 66,300 66,300
Announcement Date 1/21/19 1/20/20 2/1/21 1/27/22 1/30/23 7/28/23 - -
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 28,560,857 23,733,028 14,628,073 9,087,304 14,538,688 6,748,538 17,699,000 19,402,000
EBITDA 1,421,757 697,642 468,276 -143,267 -141,735 - - -
EBIT 1,327,795 589,128 360,329 -247,777 -248,024 - - -
Operating Margin 4.65% 2.48% 2.46% -2.73% -1.71% - - -
Earnings before Tax (EBT) 1,872,974 890,731 588,844 38,154 34,826 - - -
Net income 1,510,408 710,891 463,281 24,191 20,712 - - -
Net margin 5.29% 3% 3.17% 0.27% 0.14% - - -
EPS 13,768 6,644 4,327 244.5 210.0 531.0 - -
Free Cash Flow 1 -1,068,130 -405,795 - 321,454 -1,820,876 - 808,000 377,000
FCF margin -3.74% -1.71% - 3.54% -12.52% - 4.57% 1.94%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - 1,328.82% - - - -
Dividend per Share 2,250 2,250 2,279 749.3 - - - -
Announcement Date 1/21/19 1/20/20 2/1/21 1/27/22 1/30/23 7/28/23 - -
1VND in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - - -
Net Cash position 4,459,891 4,042,441 3,247,725 3,283,674 - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -1,068,130 -405,795 - 321,454 -1,820,876 - 808,000 377,000
ROE (net income / shareholders' equity) 19.8% 8.68% 5.49% 0.29% 0.25% - 3.6% 5%
ROA (Net income/ Total Assets) 9.24% 4.31% 3.05% 0.17% 0.12% - 1.1% 1.9%
Assets 16,349,941 16,509,306 15,201,011 14,425,148 17,005,091 - - -
Book Value Per Share 2 79,120 82,729 84,362 83,194 83,403 - 82,387 113,822
Cash Flow per Share - - - - - - - -
Capex 1 134,240 76,631 5,074 47,080 194,756 - 85,000 57,000
Capex / Sales 0.47% 0.32% 0.03% 0.52% 1.34% - 0.48% 0.29%
Announcement Date 1/21/19 1/20/20 2/1/21 1/27/22 1/30/23 7/28/23 - -
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
66,300 VND
Average target price
73,595 VND
Spread / Average Target
+11.00%
Consensus

Annual profits - Rate of surprise

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