VINACAFÉ BIEN HOA |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 225,000 VND | +3.83% |
|
+3.93% | +18.92% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 3,880,554 | 4,731,086 | 6,009,542 | 6,230,149 | 5,927,147 | 5,028,772 |
| Enterprise Value (EV) 1 | 4,027,626 | 4,855,767 | 5,205,059 | 5,428,413 | 5,257,570 | 3,993,192 |
| P/E ratio | 6.06 x | 6.95 x | 8.31 x | 14.5 x | 18.6 x | 11.2 x |
| Yield | 16.4% | - | 11.1% | 10.7% | - | - |
| Capitalization / Revenue | 1.13 x | 1.53 x | 2.07 x | 2.81 x | 2.69 x | 2.14 x |
| EV / Revenue | 1.17 x | 1.57 x | 1.79 x | 2.45 x | 2.38 x | 1.7 x |
| EV / EBITDA | 4.76 x | 5.45 x | 5.62 x | 9.69 x | 10.4 x | 7.48 x |
| EV / FCF | -1.65 x | 10.2 x | 3.73 x | 10.3 x | -16.7 x | 5.05 x |
| FCF Yield | -60.7% | 9.83% | 26.8% | 9.69% | -5.99% | 19.8% |
| Price to Book | 2.75 x | 3.26 x | 3.97 x | 4.94 x | 3.56 x | 2.38 x |
| Nbr of stocks (in thousands) | 26,579 | 26,579 | 26,579 | 26,579 | 26,579 | 26,579 |
| Reference price 2 | 146,000 | 178,000 | 226,100 | 234,400 | 223,000 | 189,200 |
| Announcement Date | 3/15/19 | 3/17/20 | 3/11/21 | 3/18/22 | 3/1/23 | 3/11/24 |
1VND in Million2VND
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 3,434,935 | 3,097,446 | 2,901,293 | 2,216,910 | 2,207,035 | 2,352,521 |
| EBITDA 1 | 846,593 | 890,185 | 926,162 | 560,004 | 505,971 | 534,195 |
| EBIT 1 | 762,194 | 808,380 | 856,708 | 491,062 | 450,635 | 484,253 |
| Operating Margin | 22.19% | 26.1% | 29.53% | 22.15% | 20.42% | 20.58% |
| Earnings before Tax (EBT) 1 | 776,311 | 791,419 | 901,816 | 548,566 | 399,438 | 563,917 |
| Net income 1 | 639,924 | 680,820 | 723,602 | 428,835 | 319,107 | 449,953 |
| Net margin | 18.63% | 21.98% | 24.94% | 19.34% | 14.46% | 19.13% |
| EPS 2 | 24,076 | 25,615 | 27,224 | 16,134 | 12,006 | 16,929 |
| Free Cash Flow 1 | -2,446,660 | 477,550 | 1,396,145 | 525,754 | -315,159 | 791,367 |
| FCF margin | -71.23% | 15.42% | 48.12% | 23.72% | -14.28% | 33.64% |
| FCF Conversion (EBITDA) | - | 53.65% | 150.75% | 93.88% | - | 148.14% |
| FCF Conversion (Net income) | - | 70.14% | 192.94% | 122.6% | - | 175.88% |
| Dividend per Share 2 | 24,000 | - | 25,000 | 25,000 | - | - |
| Announcement Date | 3/15/19 | 3/17/20 | 3/11/21 | 3/18/22 | 3/1/23 | 3/11/24 |
1VND in Million2VND
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 147,072 | 124,681 | - | - | - | - |
| Net Cash position 1 | - | - | 804,483 | 801,736 | 669,577 | 1,035,580 |
| Leverage (Debt/EBITDA) | 0.1737 x | 0.1401 x | - | - | - | - |
| Free Cash Flow 1 | -2,446,660 | 477,550 | 1,396,145 | 525,754 | -315,159 | 791,367 |
| ROE (net income / shareholders' equity) | 58.8% | 47.7% | 49% | 31% | 21.8% | 23.8% |
| ROA (Net income/ Total Assets) | 16.4% | 22.7% | 24.6% | 15.1% | 13.9% | 12.7% |
| Assets 1 | 3,895,657 | 2,992,839 | 2,944,127 | 2,848,551 | 2,295,369 | 3,541,736 |
| Book Value Per Share 2 | 53,050 | 54,665 | 56,890 | 47,442 | 62,562 | 79,490 |
| Cash Flow per Share 2 | 7,343 | 8,217 | 7,583 | 42,290 | 8,305 | 10,425 |
| Capex 1 | 13,764 | 10,497 | 11,528 | 14,549 | 5,020 | 2,420 |
| Capex / Sales | 0.4% | 0.34% | 0.4% | 0.66% | 0.23% | 0.1% |
| Announcement Date | 3/15/19 | 3/17/20 | 3/11/21 | 3/18/22 | 3/1/23 | 3/11/24 |
1VND in Million2VND
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Chiffre d''affaires - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +18.92% | 235M | |
| +1.98% | 12.46B | |
| -16.09% | 10.69B | |
| +23.96% | 1.54B | |
| +1.87% | 991M | |
| +2.35% | 927M | |
| -8.00% | 638M | |
| +7.59% | 570M | |
| -2.83% | 282M | |
| +7.44% | 245M |
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