Financials Nam Kim Steel

Equities

NKG

VN000000NKG3

Iron & Steel

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
21,900 VND -0.45% Intraday chart for Nam Kim Steel -0.23% -11.16%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 1,255,799 2,579,998 8,501,694 3,225,153 6,489,798 5,765,784
Enterprise Value (EV) 1 1,255,799 2,579,998 8,501,694 3,225,153 6,489,798 5,765,784
P/E ratio 26.5 x 8.97 x 3.8 x -25.8 x - 24 x
Yield - - 2.58% - - -
Capitalization / Revenue 0.1 x 0.22 x 0.3 x 0.14 x 0.35 x 0.28 x
EV / Revenue 0.1 x 0.22 x 0.3 x 0.14 x 0.35 x 0.28 x
EV / EBITDA 2,488,540 x 2,913,250 x 2,717,582 x 6,846,981 x 11,737,744 x -
EV / FCF 1,079,308 x -66,672,304 x -18,556,778 x -3,107,836 x 43,951,607 x -
FCF Yield 0% -0% -0% -0% 0% -
Price to Book - - 1.48 x 0.6 x 1.2 x -
Nbr of stocks (in thousands) 262,080 247,680 263,278 263,278 263,278 263,278
Reference price 2 4,792 10,417 32,292 12,250 24,650 21,900
Announcement Date 1/20/20 1/27/21 1/25/22 1/27/23 1/31/24 -
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net sales 1 12,176,797 11,559,675 28,173,402 23,071,247 18,595,974 20,300,000
EBITDA 504,633 885,608 3,128,403 471,033 552,900 -
EBIT 62,824 509,353 2,749,185 93,253 372,849 -
Operating Margin 0.52% 4.41% 9.76% 0.4% 2% -
Earnings before Tax (EBT) 90,109 320,812 2,562,029 -106,913 177,311 -
Net income 1 47,334 295,397 2,225,261 -124,685 117,409 261,000
Net margin 0.39% 2.56% 7.9% -0.54% 0.63% 1.29%
EPS 2 180.6 1,161 8,491 -474.0 - 913.0
Free Cash Flow 1,163,523 -38,697 -458,145 -1,037,749 147,658 -
FCF margin 9.56% -0.33% -1.63% -4.5% 0.79% -
FCF Conversion (EBITDA) 230.57% - - - 26.71% -
FCF Conversion (Net income) 2,458.13% - - - 125.76% -
Dividend per Share - - 833.3 - - -
Announcement Date 1/20/20 1/27/21 1/25/22 1/27/23 1/31/24 -
1VND in Million2VND
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 S1 2022 Q3 2023 Q1 2023 Q2 2023 S2
Net sales 1 7,531,043 - 14,347,381 - - 5,499,967 8,721,279
EBITDA - - - - - - -
EBIT 1 - - - -428,516 - 242,004 -
Operating Margin - - - - - 4.4% -
Earnings before Tax (EBT) - - - - -49,484 - -
Net income 1 606,673 452,353 708,330 - -49,270 125,395 41,284
Net margin 8.06% - 4.94% - - 2.28% 0.47%
EPS - - - - - - -
Dividend per Share - - - - - - -
Announcement Date 10/28/21 1/25/22 7/29/22 10/31/22 4/28/23 7/28/23 1/31/24
1VND in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net Debt - - - - - -
Net Cash position - - - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1,163,523 -38,697 -458,145 -1,037,749 147,658 -
ROE (net income / shareholders' equity) 1.58% 9.53% 50% -2.26% 2.19% -
ROA (Net income/ Total Assets) 0.59% 3.78% 19.2% -0.86% 0.91% -
Assets 1 7,968,639 7,814,741 11,571,820 14,429,445 12,847,966 -
Book Value Per Share - - 21,838 20,426 20,598 -
Cash Flow per Share - - - - - -
Capex 92,674 56,318 140,433 211,160 130,230 -
Capex / Sales 0.76% 0.49% 0.5% 0.92% 0.7% -
Announcement Date 1/20/20 1/27/21 1/25/22 1/27/23 1/31/24 -
1VND in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
21,900 VND
Average target price
18,000 VND
Spread / Average Target
-17.81%
Consensus

Quarterly revenue - Rate of surprise

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