Financials Vietnam Tanker

Equities

VTO

VN000000VTO1

Oil & Gas Transportation Services

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-07-10 pm EDT 5-day change 1st Jan Change
15,900 VND +3.25% Intraday chart for Vietnam Tanker +27.71% +67.37%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 595,443 583,613 685,351 1,017,380 584,624 758,733
Enterprise Value (EV) 1 853,492 848,975 756,225 794,528 421,967 312,648
P/E ratio 6.08 x 7.36 x 13.2 x 9.14 x 10.6 x 13.5 x
Yield 11.9% 12.2% 9.21% 6.2% 10.9% 8.42%
Capitalization / Revenue 0.37 x 0.38 x 0.59 x 1.08 x 0.5 x 0.7 x
EV / Revenue 0.53 x 0.56 x 0.65 x 0.84 x 0.36 x 0.29 x
EV / EBITDA 1.72 x 2.16 x 2.12 x 2.6 x 1.15 x 0.93 x
EV / FCF 2.17 x 8.2 x 2.93 x 2.95 x -33.5 x 0.94 x
FCF Yield 46.1% 12.2% 34.1% 33.9% -2.98% 107%
Price to Book 0.52 x 0.5 x 0.62 x 0.89 x 0.51 x 0.66 x
Nbr of stocks (in thousands) 78,867 78,867 78,867 78,867 79,867 79,867
Reference price 2 7,550 7,400 8,690 12,900 7,320 9,500
Announcement Date 3/25/19 3/27/20 4/1/21 3/31/22 3/23/23 3/26/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,598,931 1,516,586 1,165,643 946,220 1,180,183 1,076,622
EBITDA 1 497,455 392,256 356,980 306,060 367,404 336,400
EBIT 1 171,305 148,693 111,386 60,692 108,727 101,845
Operating Margin 10.71% 9.8% 9.56% 6.41% 9.21% 9.46%
Earnings before Tax (EBT) 1 127,281 127,467 90,506 164,294 94,594 98,839
Net income 1 97,872 99,285 69,963 129,306 73,348 75,599
Net margin 6.12% 6.55% 6% 13.67% 6.21% 7.02%
EPS 2 1,241 1,005 658.9 1,411 693.3 706.0
Free Cash Flow 1 393,650 103,526 257,783 269,185 -12,590 333,772
FCF margin 24.62% 6.83% 22.12% 28.45% -1.07% 31%
FCF Conversion (EBITDA) 79.13% 26.39% 72.21% 87.95% - 99.22%
FCF Conversion (Net income) 402.21% 104.27% 368.46% 208.18% - 441.5%
Dividend per Share 2 900.0 900.0 800.0 800.0 800.0 800.0
Announcement Date 3/25/19 3/27/20 4/1/21 3/31/22 3/23/23 3/26/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 258,048 265,362 70,874 - - -
Net Cash position 1 - - - 222,852 162,657 446,085
Leverage (Debt/EBITDA) 0.5187 x 0.6765 x 0.1985 x - - -
Free Cash Flow 1 393,650 103,526 257,783 269,185 -12,590 333,772
ROE (net income / shareholders' equity) 8.59% 8.6% 6.19% 11.5% 6.38% 6.59%
ROA (Net income/ Total Assets) 5.65% 4.86% 3.7% 2.14% 3.94% 3.82%
Assets 1 1,732,429 2,041,421 1,890,270 6,037,534 1,861,153 1,981,267
Book Value Per Share 2 14,515 14,699 13,957 14,552 14,414 14,327
Cash Flow per Share 2 2,764 3,358 4,418 7,181 6,649 9,273
Capex 1 33,625 252,337 29,440 932 192,698 2,336
Capex / Sales 2.1% 16.64% 2.53% 0.1% 16.33% 0.22%
Announcement Date 3/25/19 3/27/20 4/1/21 3/31/22 3/23/23 3/26/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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