NAM LONG INVESTMENT CORPORATION Financials Nam Long Investment Corporation
Equities
NLG
VN000000NLG1
Real Estate Development & Operations
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 42,000 VND | +0.96% |
|
+1.94% | +14.60% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,604,335 | 7,783,730 | 24,584,749 | 11,906,489 | 14,102,094 | 15,929,787 | - | - |
| Enterprise Value (EV) 1 | 5,506,522 | 9,098,125 | 24,337,546 | 12,325,169 | 17,669,405 | 18,075,487 | 19,151,787 | 18,322,187 |
| P/E ratio | 7.01 x | 9.2 x | 21.3 x | 23.2 x | 30.9 x | 27.6 x | 22 x | 18.8 x |
| Yield | 3.49% | 3.02% | 1.83% | - | - | 1.38% | 1.38% | 1.47% |
| Capitalization / Revenue | 2.59 x | 3.51 x | 4.72 x | 2.74 x | 4.43 x | 2.49 x | 2.24 x | 1.97 x |
| EV / Revenue | 2.16 x | 4.1 x | 4.68 x | 2.84 x | 5.55 x | 2.83 x | 2.69 x | 2.26 x |
| EV / EBITDA | 8.38 x | 35.1 x | 30 x | 14.2 x | 27.9 x | 14.5 x | 12.1 x | 12.1 x |
| EV / FCF | 22.4 x | -8.2 x | 358 x | -36.6 x | -7.98 x | 12.1 x | -19 x | 20.5 x |
| FCF Yield | 4.46% | -12.2% | 0.28% | -2.73% | -12.5% | 8.27% | -5.25% | 4.88% |
| Price to Book | 1.02 x | 1.39 x | 2.75 x | 1.32 x | 1.5 x | 1.67 x | 1.59 x | - |
| Nbr of stocks (in thousands) | 290,881 | 291,671 | 382,940 | 384,080 | 384,777 | 384,777 | - | - |
| Reference price 2 | 22,705 | 26,687 | 64,200 | 31,000 | 36,650 | 42,000 | 42,000 | 42,000 |
| Announcement Date | 1/20/20 | 1/20/21 | 1/21/22 | 1/19/23 | 1/26/24 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,546,101 | 2,216,719 | 5,205,519 | 4,338,841 | 3,181,422 | 6,396,892 | 7,126,420 | 8,097,050 |
| EBITDA 1 | 657,252 | 259,051 | 811,389 | 865,061 | 632,742 | 1,247,725 | 1,580,500 | 1,514,800 |
| EBIT 1 | 641,601 | 236,297 | 781,357 | 829,424 | 581,753 | 1,195,250 | 1,521,000 | 1,445,950 |
| Operating Margin | 25.2% | 10.66% | 15.01% | 19.12% | 18.29% | 18.68% | 21.34% | 17.86% |
| Earnings before Tax (EBT) 1 | 1,225,788 | 1,014,839 | 1,639,908 | 1,069,832 | 968,083 | 1,197,021 | 1,395,487 | 1,535,450 |
| Net income 1 | 960,075 | 834,866 | 1,070,826 | 556,274 | 483,736 | 604,909 | 757,909 | 882,500 |
| Net margin | 37.71% | 37.66% | 20.57% | 12.82% | 15.21% | 9.46% | 10.64% | 10.9% |
| EPS 2 | 3,239 | 2,900 | 3,011 | 1,339 | 1,185 | 1,522 | 1,909 | 2,232 |
| Free Cash Flow 1 | 245,572 | -1,110,074 | 67,957 | -336,675 | -2,212,989 | 1,495,300 | -1,006,000 | 893,400 |
| FCF margin | 9.65% | -50.08% | 1.31% | -7.76% | -69.56% | 23.38% | -14.12% | 11.03% |
| FCF Conversion (EBITDA) | 37.36% | - | 8.38% | - | - | 119.84% | - | 58.98% |
| FCF Conversion (Net income) | 25.58% | - | 6.35% | - | - | 247.19% | - | 101.24% |
| Dividend per Share 2 | 791.8 | 806.0 | 1,178 | - | - | 578.7 | 578.7 | 618.0 |
| Announcement Date | 1/20/20 | 1/20/21 | 1/21/22 | 1/19/23 | 1/26/24 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 S2 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales | 400,774 | 4,568,982 | - | - | 1,629,030 | 235,133 | 953,347 | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | 319,969 | - | - |
| Net income 1 | - | 658,522 | 110,659 | 7,907 | - | 6,810 | 120,809 | 66,310 | 289,808 |
| Net margin | - | 14.41% | - | - | - | 2.9% | 12.67% | - | - |
| EPS | - | - | 209.0 | 21.00 | - | - | - | 163.0 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/17/21 | 1/21/22 | 7/20/22 | 10/21/22 | 1/19/23 | 4/20/23 | 7/20/23 | 11/23/23 | 1/26/24 |
1VND in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 1,314,395 | - | 418,680 | 3,567,311 | 2,145,700 | 3,222,000 | 2,392,400 |
| Net Cash position 1 | 1,097,813 | - | 247,203 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 5.074 x | - | 0.484 x | 5.638 x | 1.72 x | 2.039 x | 1.579 x |
| Free Cash Flow 1 | 245,572 | -1,110,074 | 67,957 | -336,675 | -2,212,989 | 1,495,300 | -1,006,000 | 893,400 |
| ROE (net income / shareholders' equity) | 16.7% | 15.7% | 14.7% | 6.21% | 5.27% | 6.14% | 7.05% | 8.15% |
| ROA (Net income/ Total Assets) | 9.43% | 6.85% | 5.73% | 2.19% | 1.74% | 3% | 3.35% | 3.7% |
| Assets 1 | 10,181,075 | 12,182,488 | 18,679,886 | 25,353,161 | 27,842,546 | 20,163,620 | 22,624,149 | 23,851,351 |
| Book Value Per Share 2 | 22,259 | 19,203 | 23,318 | 23,407 | 24,386 | 25,192 | 26,454 | - |
| Cash Flow per Share | - | -3,934 | - | - | - | - | - | - |
| Capex 1 | 301,843 | 43,425 | 18,675 | 111,670 | 26,931 | 47,967 | 51,233 | 51,600 |
| Capex / Sales | 11.86% | 1.96% | 0.36% | 2.57% | 0.85% | 0.75% | 0.72% | 0.64% |
| Announcement Date | 1/20/20 | 1/20/21 | 1/21/22 | 1/19/23 | 1/26/24 | - | - | - |
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
OUTPERFORM
Number of Analysts
9
Last Close Price
42,000
VND
Average target price
44,725
VND
Spread / Average Target
+6.49%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +14.60% | 635M | |
| -6.73% | 23.32B | |
| +8.76% | 10.7B | |
| -33.08% | 10.62B | |
| -25.06% | 7.62B | |
| -12.96% | 6.43B | |
| -3.20% | 6.08B | |
| -8.07% | 5.99B | |
| +0.28% | 3.75B | |
| +50.32% | 3.73B |
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