THE SOUTHERN RUBBER INDUSTRY |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 14,900 VND | -1.65% |
|
+2.05% | +22.13% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 1,523,291 | 1,414,485 | 1,823,805 | 1,958,517 | 1,492,204 | 1,264,228 |
| Enterprise Value (EV) 1 | 3,646,238 | 3,454,848 | 3,690,747 | 4,156,854 | 3,743,121 | 2,961,335 |
| P/E ratio | 162 x | 27 x | 20.1 x | 46.6 x | 26 x | 31.8 x |
| Yield | - | 3.66% | - | 1.59% | 2.08% | - |
| Capitalization / Revenue | 0.39 x | 0.33 x | 0.39 x | 0.4 x | 0.28 x | 0.24 x |
| EV / Revenue | 0.94 x | 0.81 x | 0.79 x | 0.86 x | 0.7 x | 0.57 x |
| EV / EBITDA | 10.4 x | 8.88 x | 8.08 x | 11 x | 8.07 x | 7.97 x |
| EV / FCF | 21.3 x | 71.3 x | 15 x | -14 x | -888 x | 5.61 x |
| FCF Yield | 4.69% | 1.4% | 6.65% | -7.13% | -0.11% | 17.8% |
| Price to Book | 1.27 x | 1.14 x | 1.43 x | 1.56 x | 1.15 x | 0.95 x |
| Nbr of stocks (in thousands) | 103,625 | 103,625 | 103,625 | 103,625 | 103,625 | 103,625 |
| Reference price 2 | 14,700 | 13,650 | 17,600 | 18,900 | 14,400 | 12,200 |
| Announcement Date | 3/22/19 | 3/25/20 | 4/2/21 | 3/10/22 | 3/24/23 | 3/19/24 |
1VND in Million2VND
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,891,984 | 4,265,192 | 4,692,034 | 4,839,508 | 5,320,632 | 5,234,907 |
| EBITDA 1 | 349,814 | 388,905 | 456,525 | 377,108 | 464,111 | 371,774 |
| EBIT 1 | 164,846 | 189,959 | 240,871 | 168,342 | 249,823 | 170,668 |
| Operating Margin | 4.24% | 4.45% | 5.13% | 3.48% | 4.7% | 3.26% |
| Earnings before Tax (EBT) 1 | 16,510 | 65,562 | 113,541 | 55,192 | 101,723 | 70,204 |
| Net income 1 | 13,161 | 52,450 | 90,661 | 42,015 | 79,185 | 60,375 |
| Net margin | 0.34% | 1.23% | 1.93% | 0.87% | 1.49% | 1.15% |
| EPS 2 | 90.52 | 506.1 | 874.9 | 405.5 | 554.2 | 383.8 |
| Free Cash Flow 1 | 170,990 | 48,485 | 245,568 | -296,196 | -4,217 | 527,491 |
| FCF margin | 4.39% | 1.14% | 5.23% | -6.12% | -0.08% | 10.08% |
| FCF Conversion (EBITDA) | 48.88% | 12.47% | 53.79% | - | - | 141.88% |
| FCF Conversion (Net income) | 1,299.26% | 92.44% | 270.86% | - | - | 873.7% |
| Dividend per Share | - | 500.0 | - | 300.0 | 300.0 | - |
| Announcement Date | 3/22/19 | 3/25/20 | 4/2/21 | 3/10/22 | 3/24/23 | 3/19/24 |
1VND in Million2VND
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 2,122,947 | 2,040,363 | 1,866,942 | 2,198,336 | 2,250,917 | 1,697,107 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.069 x | 5.246 x | 4.089 x | 5.829 x | 4.85 x | 4.565 x |
| Free Cash Flow 1 | 170,990 | 48,485 | 245,568 | -296,196 | -4,217 | 527,491 |
| ROE (net income / shareholders' equity) | 1.09% | 4.32% | 7.21% | 3.32% | 6.19% | 4.6% |
| ROA (Net income/ Total Assets) | 2.61% | 3.09% | 3.95% | 2.64% | 3.74% | 2.64% |
| Assets 1 | 503,909 | 1,696,195 | 2,297,303 | 1,590,703 | 2,119,284 | 2,289,173 |
| Book Value Per Share 2 | 11,549 | 11,975 | 12,308 | 12,133 | 12,559 | 12,779 |
| Cash Flow per Share 2 | 747.0 | 604.0 | 1,476 | 762.0 | 272.0 | 2,795 |
| Capex 1 | 184,586 | 54,538 | 96,500 | 22,129 | 44,845 | 46,095 |
| Capex / Sales | 4.74% | 1.28% | 2.06% | 0.46% | 0.84% | 0.88% |
| Announcement Date | 3/22/19 | 3/25/20 | 4/2/21 | 3/10/22 | 3/24/23 | 3/19/24 |
1VND in Million2VND
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +22.13% | 61.87M | |
| +25.39% | 6.62B | |
| -3.91% | 6.43B | |
| -4.83% | 5.7B | |
| +8.91% | 4.84B | |
| -3.63% | 4.74B | |
| +18.04% | 4.63B | |
| +29.37% | 3.81B | |
| +5.35% | 3.67B | |
| +44.36% | 3.11B |
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