SONG HONG GARMENT |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 46,000 VND | +2.22% |
|
+6.48% | +26.72% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,215,416 | 1,985,373 | 3,955,744 | 2,475,465 | 2,723,012 | 3,450,649 | - | - |
| Enterprise Value (EV) 1 | 2,215,416 | 1,985,373 | 3,839,616 | 2,475,465 | 2,723,012 | 3,450,649 | 3,450,649 | 3,450,649 |
| P/E ratio | 4.86 x | 8.57 x | 8.94 x | 6.61 x | 11.1 x | 12.6 x | 8.23 x | 8.77 x |
| Yield | 10.2% | 7.56% | 5.69% | - | - | 4.35% | 4.35% | 4.35% |
| Capitalization / Revenue | 0.5 x | 0.52 x | 0.83 x | 0.45 x | 0.6 x | 0.7 x | 0.59 x | 0.65 x |
| EV / Revenue | 0.5 x | 0.52 x | 0.83 x | 0.45 x | 0.6 x | 0.7 x | 0.59 x | 0.65 x |
| EV / EBITDA | 3,512,740 x | 4,789,904 x | 5,825,816 x | 5,051,454 x | - | - | - | - |
| EV / FCF | - | - | -67 x | - | -9.7 x | 41.6 x | 13.5 x | 10.5 x |
| FCF Yield | - | - | -1.49% | - | -10.3% | 2.41% | 7.39% | 9.56% |
| Price to Book | 1.91 x | - | 2.78 x | 1.44 x | - | 1.93 x | 1.68 x | 1.5 x |
| Nbr of stocks (in thousands) | 75,014 | 75,014 | 75,014 | 75,014 | 75,014 | 75,014 | - | - |
| Reference price 2 | 29,533 | 26,467 | 52,733 | 33,000 | 36,300 | 46,000 | 46,000 | 46,000 |
| Announcement Date | 3/24/20 | 2/1/21 | 2/7/22 | 1/31/23 | 1/31/24 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,411,872 | 3,817,925 | 4,747,623 | 5,520,958 | 4,541,908 | 4,961,000 | 5,875,500 | 5,330,000 |
| EBITDA | 630,680 | 414,491 | 679,003 | 490,050 | - | - | - | - |
| EBIT 1 | 512,808 | 282,704 | 545,879 | 356,393 | 186,559 | 362,000 | 545,400 | 578,450 |
| Operating Margin | 11.62% | 7.4% | 11.5% | 6.46% | 4.11% | 7.3% | 9.28% | 10.85% |
| Earnings before Tax (EBT) 1 | 546,535 | 283,283 | 542,658 | - | 306,583 | 419,000 | 589,800 | 562,900 |
| Net income 1 | 449,868 | 231,807 | 442,381 | 374,753 | 244,550 | 284,700 | 438,550 | 414,300 |
| Net margin | 10.2% | 6.07% | 9.32% | 6.79% | 5.38% | 5.74% | 7.46% | 7.77% |
| EPS 2 | 6,075 | 3,090 | 5,897 | 4,996 | 3,260 | 3,650 | 5,592 | 5,246 |
| Free Cash Flow 1 | - | - | -59,052 | - | -280,746 | 83,000 | 255,000 | 330,000 |
| FCF margin | - | - | -1.24% | - | -6.18% | 1.67% | 4.34% | 6.19% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | 29.15% | 58.15% | 79.65% |
| Dividend per Share 2 | 3,000 | 2,000 | 3,000 | - | - | 2,000 | 2,000 | 2,000 |
| Announcement Date | 3/24/20 | 2/1/21 | 2/7/22 | 1/31/23 | 1/31/24 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 Q3 | 2022 Q4 |
|---|---|---|
| Net sales 1 | 1,643,311 | 1,141,350 |
| EBITDA | - | - |
| EBIT | - | - |
| Operating Margin | - | - |
| Earnings before Tax (EBT) | - | - |
| Net income | 111,309 | - |
| Net margin | 6.77% | - |
| EPS | - | - |
| Dividend per Share | - | - |
| Announcement Date | 10/31/22 | 1/31/23 |
1VND in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | - | - | 116,128 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | - | -59,052 | - | -280,746 | 83,000 | 255,000 | 330,000 |
| ROE (net income / shareholders' equity) | 42.9% | 18.3% | 31.7% | 23.3% | 15% | 16% | 22.5% | 19.1% |
| ROA (Net income/ Total Assets) | 17.6% | 8.93% | 15.2% | 11.6% | 7.25% | 8.6% | 13.7% | 12.2% |
| Assets 1 | 2,553,396 | 2,596,982 | 2,914,239 | 3,236,068 | 3,373,657 | 3,310,465 | 3,201,095 | 3,395,902 |
| Book Value Per Share 2 | 15,494 | - | 18,956 | 22,897 | - | 23,853 | 27,350 | 30,597 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 75,348 | 101,674 | 258,965 | 259,538 | 169,798 | 500,000 | 175,000 | 170,500 |
| Capex / Sales | 1.71% | 2.66% | 5.45% | 4.7% | 3.74% | 10.08% | 2.98% | 3.2% |
| Announcement Date | 3/24/20 | 2/1/21 | 2/7/22 | 1/31/23 | 1/31/24 | - | - | - |
1VND in Million2VND
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
46,000
VND
Average target price
46,162
VND
Spread / Average Target
+0.35%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +26.72% | 133M | |
| +26.56% | 7.61B | |
| +0.62% | 3.44B | |
| +6.20% | 2.34B | |
| +10.09% | 2.14B | |
| -2.02% | 2.1B | |
| +14.93% | 1.92B | |
| -1.82% | 1.75B | |
| +26.11% | 1.75B | |
| +7.24% | 1.64B |
- Stock Market
- Equities
- MSH Stock
- Financials Song Hong Garment