Financials Noibai Cargo Terminal Services

Equities

NCT

VN000000NCT3

Airport Services

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
87,600 VND 0.00% Intraday chart for Noibai Cargo Terminal Services +0.57% -0.68%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,873,466 1,897,016 1,831,601 2,150,823 2,229,320 2,307,818
Enterprise Value (EV) 1 1,610,384 1,610,375 1,574,789 1,860,044 1,997,169 2,000,728
P/E ratio 8.13 x 9.01 x 9.35 x 9.87 x 9.85 x 11.2 x
Yield 12.6% 11.7% 10.7% 10.1% 9.98% -
Capitalization / Revenue 2.72 x 2.71 x 2.74 x 2.9 x 3.03 x 3.29 x
EV / Revenue 2.34 x 2.3 x 2.35 x 2.51 x 2.71 x 2.85 x
EV / EBITDA 5.52 x 5.63 x 6.07 x 6.25 x 6.54 x 7.15 x
EV / FCF 14.1 x 10.9 x 8.35 x 13 x 13.6 x 8.6 x
FCF Yield 7.07% 9.2% 12% 7.72% 7.33% 11.6%
Price to Book 4.31 x 3.69 x 4.48 x 4.7 x 5.16 x 5.32 x
Nbr of stocks (in thousands) 26,166 26,166 26,166 26,166 26,166 26,166
Reference price 2 71,600 72,500 70,000 82,200 85,200 88,200
Announcement Date 3/6/19 3/6/20 3/5/21 3/8/22 3/8/23 3/8/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 689,611 699,467 669,319 742,156 735,915 701,789
EBITDA 1 291,822 285,834 259,530 297,555 305,462 279,867
EBIT 1 268,567 256,795 230,074 272,367 279,075 251,407
Operating Margin 38.94% 36.71% 34.37% 36.7% 37.92% 35.82%
Earnings before Tax (EBT) 1 297,771 275,742 257,379 281,018 297,028 273,331
Net income 1 241,000 221,379 206,750 223,612 237,186 216,796
Net margin 34.95% 31.65% 30.89% 30.13% 32.23% 30.89%
EPS 2 8,811 8,046 7,487 8,325 8,646 7,877
Free Cash Flow 1 113,856 148,077 188,543 143,592 146,473 232,741
FCF margin 16.51% 21.17% 28.17% 19.35% 19.9% 33.16%
FCF Conversion (EBITDA) 39.02% 51.81% 72.65% 48.26% 47.95% 83.16%
FCF Conversion (Net income) 47.24% 66.89% 91.19% 64.21% 61.75% 107.35%
Dividend per Share 2 9,000 8,500 7,500 8,300 8,500 -
Announcement Date 3/6/19 3/6/20 3/5/21 3/8/22 3/8/23 3/8/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 263,082 286,640 256,813 290,779 232,152 307,089
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 113,856 148,077 188,543 143,592 146,473 232,741
ROE (net income / shareholders' equity) 55.2% 46.7% 44.8% 51.6% 53.3% 50.1%
ROA (Net income/ Total Assets) 33.1% 29.4% 26.4% 32.2% 33.1% 29.8%
Assets 1 728,242 752,193 781,859 693,817 717,046 727,978
Book Value Per Share 2 16,598 19,655 15,641 17,479 16,523 16,564
Cash Flow per Share 2 557.0 1,856 2,108 2,290 1,585 1,789
Capex 1 64,563 48,167 8,050 25,229 39,264 9,681
Capex / Sales 9.36% 6.89% 1.2% 3.4% 5.34% 1.38%
Announcement Date 3/6/19 3/6/20 3/5/21 3/8/22 3/8/23 3/8/24
1VND in Million2VND
Estimates
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