Financials Song Da Urban & Industrial Zone Investment and Development

Equities

SJS

VN000000SJS9

Real Estate Development & Operations

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
69,500 VND 0.00% Intraday chart for Song Da Urban & Industrial Zone Investment and Development +1.31% +0.14%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,152,662 1,936,257 3,206,214 9,339,593 5,182,335 7,904,485
Enterprise Value (EV) 1 2,647,470 2,437,417 3,648,857 10,166,976 6,678,882 9,267,319
P/E ratio 19.6 x 18.5 x 105 x 144 x 43.3 x 42.7 x
Yield 5.29% - 1.07% - - -
Capitalization / Revenue 4.61 x 2.78 x 2.82 x 12.5 x 13.6 x 19 x
EV / Revenue 5.67 x 3.5 x 3.21 x 13.6 x 17.6 x 22.3 x
EV / EBITDA 38.4 x 15.9 x 9.94 x 63.8 x 386 x 63.7 x
EV / FCF 11.9 x 3.86 x 7.12 x -61 x -6.88 x -13.5 x
FCF Yield 8.44% 25.9% 14% -1.64% -14.5% -7.42%
Price to Book 0.97 x 0.88 x 1.52 x 4.36 x 2.06 x 2.92 x
Nbr of stocks (in thousands) 113,897 113,897 113,897 113,897 113,897 113,897
Reference price 2 18,900 17,000 28,150 82,000 45,500 69,400
Announcement Date 3/27/19 3/30/20 4/5/21 4/1/22 2/20/23 3/13/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 467,073 695,959 1,135,902 747,036 379,811 416,024
EBITDA 1 68,913 152,930 367,129 159,408 17,288 145,469
EBIT 1 60,378 142,298 356,998 150,013 9,112 138,318
Operating Margin 12.93% 20.45% 31.43% 20.08% 2.4% 33.25%
Earnings before Tax (EBT) 1 134,885 139,875 112,277 115,879 176,351 252,613
Net income 1 109,587 104,849 30,565 64,778 119,686 185,337
Net margin 23.46% 15.07% 2.69% 8.67% 31.51% 44.55%
EPS 2 962.0 920.6 268.0 568.7 1,051 1,627
Free Cash Flow 1 223,379 632,242 512,599 -166,734 -970,842 -687,328
FCF margin 47.83% 90.84% 45.13% -22.32% -255.61% -165.21%
FCF Conversion (EBITDA) 324.14% 413.42% 139.62% - - -
FCF Conversion (Net income) 203.84% 603% 1,677.07% - - -
Dividend per Share 2 1,000 - 300.0 - - -
Announcement Date 3/27/19 3/30/20 4/5/21 4/1/22 2/20/23 3/13/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 494,807 501,160 442,643 827,382 1,496,546 1,362,833
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 7.18 x 3.277 x 1.206 x 5.19 x 86.57 x 9.369 x
Free Cash Flow 1 223,379 632,242 512,599 -166,734 -970,842 -687,328
ROE (net income / shareholders' equity) 5.02% 4.78% 1.91% 3.87% 5.05% 6.89%
ROA (Net income/ Total Assets) 0.59% 1.36% 3.26% 1.34% 0.08% 1.21%
Assets 1 18,495,755 7,724,792 938,415 4,834,197 144,374,343 15,279,235
Book Value Per Share 2 19,524 19,368 18,561 18,802 22,115 23,772
Cash Flow per Share 2 356.0 492.0 1,951 2,981 673.0 599.0
Capex 1 76,846 2,237 1,271 2,029 3,249 2,372
Capex / Sales 16.45% 0.32% 0.11% 0.27% 0.86% 0.57%
Announcement Date 3/27/19 3/30/20 4/5/21 4/1/22 2/20/23 3/13/24
1VND in Million2VND
Estimates
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