Financials PetroVietNam Low Pressure Gas Distribution

Equities

PGD

VN000000PGD3

Oil & Gas Transportation Services

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-05-05 pm EDT 5-day change 1st Jan Change
36,000 VND 0.00% Intraday chart for PetroVietNam Low Pressure Gas Distribution +4.05% -5.26%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,392,927 4,742,898 2,546,945 3,005,936 2,312,950 3,761,898
Enterprise Value (EV) 1 2,241,156 3,296,909 822,458 1,378,178 425,688 2,139,227
P/E ratio 14.7 x 21.4 x 13.2 x 12.4 x 5.77 x 14.9 x
Yield 6.63% 4.74% 7.07% 7.49% 17.5% -
Capitalization / Revenue 0.42 x 0.59 x 0.34 x 0.33 x 0.21 x 0.38 x
EV / Revenue 0.28 x 0.41 x 0.11 x 0.15 x 0.04 x 0.22 x
EV / EBITDA 5.56 x 9.21 x 2.56 x 3.68 x 0.76 x 6.24 x
EV / FCF -13.3 x 6.92 x 1.65 x -10.2 x 1.02 x 25.3 x
FCF Yield -7.53% 14.5% 60.4% -9.76% 98.4% 3.95%
Price to Book 2.47 x 3.48 x 1.92 x 2.17 x 1.49 x 2.68 x
Nbr of stocks (in thousands) 98,998 98,998 98,998 98,998 98,998 98,997
Reference price 2 34,273 47,909 25,727 30,364 23,364 38,000
Announcement Date 3/15/19 3/17/20 3/22/21 3/23/22 3/6/23 3/6/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 8,141,740 7,982,471 7,526,764 8,996,080 11,274,428 9,890,692
EBITDA 1 403,152 357,933 320,837 374,133 563,420 342,642
EBIT 1 291,967 277,383 246,592 316,109 505,571 291,673
Operating Margin 3.59% 3.47% 3.28% 3.51% 4.48% 2.95%
Earnings before Tax (EBT) 1 306,691 295,519 255,291 323,246 519,666 335,407
Net income 1 243,121 233,733 202,914 254,020 412,713 265,788
Net margin 2.99% 2.93% 2.7% 2.82% 3.66% 2.69%
EPS 2 2,338 2,242 1,944 2,445 4,047 2,555
Free Cash Flow 1 -168,805 476,633 497,091 -134,532 419,008 84,518
FCF margin -2.07% 5.97% 6.6% -1.5% 3.72% 0.85%
FCF Conversion (EBITDA) - 133.16% 154.94% - 74.37% 24.67%
FCF Conversion (Net income) - 203.92% 244.98% - 101.53% 31.8%
Dividend per Share 2 2,273 2,273 1,818 2,273 4,091 -
Announcement Date 3/15/19 3/17/20 3/22/21 3/23/22 3/6/23 3/6/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 1,151,771 1,445,989 1,724,488 1,627,758 1,887,262 1,622,671
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -168,805 476,633 497,091 -134,532 419,008 84,518
ROE (net income / shareholders' equity) 17.4% 17.1% 15.1% 18.7% 28.1% 18%
ROA (Net income/ Total Assets) 6.51% 6.19% 4.95% 5.97% 9.09% 5.23%
Assets 1 3,732,917 3,778,720 4,102,832 4,252,231 4,541,995 5,084,611
Book Value Per Share 2 13,862 13,786 13,421 13,974 15,710 14,157
Cash Flow per Share 2 11,634 14,606 17,419 15,060 16,063 11,467
Capex 1 58,766 27,527 41,773 82,487 14,234 26,499
Capex / Sales 0.72% 0.34% 0.55% 0.92% 0.13% 0.27%
Announcement Date 3/15/19 3/17/20 3/22/21 3/23/22 3/6/23 3/6/24
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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