Financials Thuduc Housing Development Corporation

Equities

TDH

VN000000TDH3

Real Estate Development & Operations

End-of-day quote Ho Chi Minh S.E. 23:00:00 12/05/2024 BST 5-day change 1st Jan Change
3,770 VND -0.26% Intraday chart for Thuduc Housing Development Corporation -2.08% -18.75%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 824,513 935,967 1,143,426 1,498,282 315,428 522,709
Enterprise Value (EV) 1 1,567,026 1,934,494 2,414,739 1,352,732 332,127 528,581
P/E ratio 7.93 x 7.81 x -3.15 x -1.59 x 63.9 x -8.37 x
Yield 9.9% - - - - -
Capitalization / Revenue 0.34 x 0.24 x 0.58 x 3.08 x 1.83 x 4.34 x
EV / Revenue 0.65 x 0.49 x 1.23 x 2.78 x 1.92 x 4.39 x
EV / EBITDA 19.3 x 42.1 x -10.9 x 135 x 13.6 x -18.5 x
EV / FCF 21.3 x 34.1 x -7.01 x 1.26 x -3.99 x 22.4 x
FCF Yield 4.69% 2.93% -14.3% 79.1% -25.1% 4.47%
Price to Book 0.48 x 0.53 x 0.82 x 3.39 x 0.72 x 1.39 x
Nbr of stocks (in thousands) 112,657 112,655 112,653 112,653 112,653 112,653
Reference price 2 7,319 8,308 10,150 13,300 2,800 4,640
Announcement Date 22/04/19 20/04/20 10/05/21 01/04/22 30/03/23 01/04/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,400,065 3,929,434 1,961,050 487,215 172,747 120,442
EBITDA 1 81,218 45,934 -222,203 10,030 24,454 -28,643
EBIT 1 53,082 11,867 -256,736 -10,709 19,075 -33,734
Operating Margin 2.21% 0.3% -13.09% -2.2% 11.04% -28.01%
Earnings before Tax (EBT) 1 115,127 216,136 -281,757 -863,807 17,791 -61,926
Net income 1 115,425 139,303 -363,426 -942,055 4,935 -62,436
Net margin 4.81% 3.55% -18.53% -193.35% 2.86% -51.84%
EPS 2 922.5 1,063 -3,226 -8,362 43.80 -554.2
Free Cash Flow 1 73,467 56,709 -344,508 1,070,374 -83,289 23,609
FCF margin 3.06% 1.44% -17.57% 219.69% -48.21% 19.6%
FCF Conversion (EBITDA) 90.46% 123.46% - 10,671.9% - -
FCF Conversion (Net income) 63.65% 40.71% - - - -
Dividend per Share 2 724.6 - - - - -
Announcement Date 22/04/19 20/04/20 10/05/21 01/04/22 30/03/23 01/04/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 742,513 998,526 1,271,313 - 16,699 5,872
Net Cash position 1 - - - 145,549 - -
Leverage (Debt/EBITDA) 9.142 x 21.74 x -5.721 x - 0.6829 x -0.205 x
Free Cash Flow 1 73,467 56,709 -344,508 1,070,374 -83,289 23,609
ROE (net income / shareholders' equity) 4.31% 7.08% -12.9% -62.3% 1.53% -15.4%
ROA (Net income/ Total Assets) 0.89% 0.15% -2.94% -0.18% 0.73% -1.53%
Assets 1 12,934,176 92,868,927 12,341,693 521,913,930 674,875 4,074,909
Book Value Per Share 2 15,253 15,645 12,308 3,920 3,891 3,334
Cash Flow per Share 2 1,643 807.0 2,051 263.0 24.90 109.0
Capex 1 34,072 1,231 4,526 10,951 1,861 -
Capex / Sales 1.42% 0.03% 0.23% 2.25% 1.08% -
Announcement Date 22/04/19 20/04/20 10/05/21 01/04/22 30/03/23 01/04/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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