VINH HOAN CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 74,800 VND | +2.19% |
|
+2.47% | +20.65% |
| Jul. 02 | Vinh Hoan Corporation Announces Management Changes | CI |
| May. 14 | Vinh Hoan Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 7,214,160 | 7,532,565 | 11,426,210 | 12,799,712 | 13,916,110 | 16,789,114 | - | - |
| Enterprise Value (EV) 1 | 7,214,160 | 7,532,565 | 11,426,210 | 12,799,712 | 13,869,294 | 16,789,114 | 16,789,114 | 16,789,114 |
| P/E ratio | 3.15 x | 10.7 x | 10.4 x | 6.45 x | 12.7 x | 13.5 x | 9.08 x | 7.23 x |
| Yield | - | 5.58% | 3.18% | - | 3.23% | 2.53% | 2.67% | 2.67% |
| Capitalization / Revenue | 0.92 x | 1.07 x | 1.26 x | 0.97 x | 1.39 x | 1.43 x | 1.23 x | 1.01 x |
| EV / Revenue | 0.92 x | 1.07 x | 1.26 x | 0.97 x | 1.39 x | 1.43 x | 1.23 x | 1.01 x |
| EV / EBITDA | 5.56 x | 8.53 x | 7.71 x | 4.96 x | 10.5 x | 8.76 x | 6.75 x | 5.78 x |
| EV / FCF | 6.49 x | -40.6 x | 333 x | 151 x | -146 x | 9.42 x | 8.41 x | 6.67 x |
| FCF Yield | 15.4% | -2.46% | 0.3% | 0.66% | -0.69% | 10.6% | 11.9% | 15% |
| Price to Book | 1.48 x | 1.46 x | 1.94 x | 1.66 x | 1.39 x | 1.74 x | 1.51 x | 1.38 x |
| Nbr of stocks (in thousands) | 218,335 | 218,335 | 218,335 | 220,052 | 224,453 | 224,453 | - | - |
| Reference price 2 | 33,042 | 34,500 | 52,333 | 58,167 | 62,000 | 74,800 | 74,800 | 74,800 |
| Announcement Date | 1/21/20 | 1/20/21 | 1/21/22 | 2/9/23 | 1/23/24 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,867,144 | 7,037,180 | 9,054,249 | 13,239,424 | 10,038,577 | 11,714,167 | 13,648,400 | 16,600,000 |
| EBITDA 1 | 1,297,668 | 883,211 | 1,481,561 | 2,580,520 | 1,330,024 | 1,917,000 | 2,487,333 | 2,906,000 |
| EBIT 1 | 1,132,464 | 682,683 | 1,196,183 | 2,253,062 | 927,591 | 1,315,500 | 1,917,000 | 2,561,500 |
| Operating Margin | 14.39% | 9.7% | 13.21% | 17.02% | 9.24% | 11.23% | 14.05% | 15.43% |
| Earnings before Tax (EBT) 1 | 1,309,371 | 791,080 | 1,287,803 | 2,320,313 | 1,107,933 | 1,481,333 | 1,985,750 | 2,731,000 |
| Net income 1 | 1,180,405 | 704,825 | 1,101,226 | 1,976,842 | 896,516 | 1,280,000 | 1,766,000 | 2,450,000 |
| Net margin | 15% | 10.02% | 12.16% | 14.93% | 8.93% | 10.93% | 12.94% | 14.76% |
| EPS 2 | 10,478 | 3,228 | 5,043 | 9,012 | 4,880 | 5,544 | 8,239 | 10,343 |
| Free Cash Flow 1 | 1,111,605 | -185,307 | 34,311 | 84,756 | -95,608 | 1,783,000 | 1,996,000 | 2,516,000 |
| FCF margin | 14.13% | -2.63% | 0.38% | 0.64% | -0.95% | 15.22% | 14.62% | 15.16% |
| FCF Conversion (EBITDA) | 85.66% | - | 2.32% | 3.28% | - | 93.01% | 80.25% | 86.58% |
| FCF Conversion (Net income) | 94.17% | - | 3.12% | 4.29% | - | 139.3% | 113.02% | 102.69% |
| Dividend per Share 2 | - | 1,926 | 1,667 | - | 2,000 | 1,889 | 2,000 | 2,000 |
| Announcement Date | 1/21/20 | 1/20/21 | 1/21/22 | 2/9/23 | 1/23/24 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q4 | 2021 S2 | 2022 Q1 | 2022 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 2,692,921 | - | - | 4,327,183 | - | 2,395,669 | 2,855,768 | 5,983,000 |
| EBITDA | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | - | 780,202 | - | 886,061 | - | - | 134,195 | - |
| Operating Margin | - | - | - | - | 20.48% | - | - | 4.7% | - |
| Earnings before Tax (EBT) 1 | - | - | - | - | - | - | - | 216,688 | - |
| Net income 1 | 391,548 | 454,636 | 709,678 | 547,751 | 784,112 | 190,625 | 47,645 | 169,663 | 809,000 |
| Net margin | - | 16.88% | - | - | 18.12% | - | 1.99% | 5.94% | 13.52% |
| EPS | 1,793 | - | - | 2,509 | - | 865.8 | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 7/20/21 | 1/21/22 | 1/21/22 | 4/20/22 | 7/21/22 | 11/16/23 | 1/23/24 | 5/14/24 | - |
1VND in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | - | - | - | - | 46,816 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 1,111,605 | -185,307 | 34,311 | 84,756 | -95,608 | 1,783,000 | 1,996,000 | 2,516,000 |
| ROE (net income / shareholders' equity) | 26.6% | 14% | 19.9% | 29.1% | 11.3% | 14.2% | 17.3% | 20.3% |
| ROA (Net income/ Total Assets) | 18.3% | 10.2% | 13.8% | 19.5% | 7.67% | 10.2% | 12.8% | 15.4% |
| Assets 1 | 6,455,450 | 6,907,133 | 7,967,771 | 10,159,011 | 11,694,547 | 12,500,000 | 13,753,894 | 15,909,091 |
| Book Value Per Share 2 | 22,329 | 23,687 | 26,940 | 34,974 | 44,510 | 43,102 | 49,464 | 54,295 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 377,607 | 605,801 | 605,697 | 1,114,388 | 559,628 | 763,500 | 728,000 | 503,000 |
| Capex / Sales | 4.8% | 8.61% | 6.69% | 8.42% | 5.57% | 6.52% | 5.33% | 3.03% |
| Announcement Date | 1/21/20 | 1/20/21 | 1/21/22 | 2/9/23 | 1/23/24 | - | - | - |
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
7
Last Close Price
74,800
VND
Average target price
81,365
VND
Spread / Average Target
+8.78%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +20.65% | 661M | |
| -4.07% | 8.42B | |
| -0.91% | 6.93B | |
| +0.48% | 2.34B | |
| +1.33% | 1.79B | |
| +14.21% | 1.71B | |
| +10.59% | 1.54B | |
| -3.12% | 925M | |
| +3.75% | 906M | |
| +172.84% | 482M |
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- Financials Vinh Hoan Corporation
