Company Valuation: Vietnam Rubber Industry Group -

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2023 2024 2025 2026 2027 2028
Market Cap 1 147,800,000 84,800,000 121,400,000 104,800,000 127,400,000 - -
Change - - 43.16% -13.67% 21.56% - -
Enterprise Value (EV) 147,800,000 84,800,000 121,400,000 104,800,000 127,400,000 127,400,000 127,400,000
Change - - 43.16% -13.67% 21.56% 0% 0%
P/E - 43.7x 23.5x 21x 17.8x 16.6x 16.5x
PBR - - 2.29x 1.86x 1.95x 1.78x 1.57x
PEG - - 0x -6.94x 0.4x 2.12x 66.84x
Capitalization / Revenue - 3.83x 4.62x 3.6x 3.94x 3.92x 3.74x
EV / Revenue - 0x 0x 0x 3.94x 3.92x 3.74x
EV / EBITDA 0x 0x 0x 0x 14.3x 14.7x 12.7x
EV / EBIT - 0x 0x 0x 21.1x 21x 18.9x
EV / FCF - - - - 22.4x 20.9x 19x
FCF Yield - - - - 4.46% 4.77% 5.27%
Dividend per Share 2 600 - - - 1,000 766.7 766.7
Rate of return 1.62% - - - 3.14% 2.41% 2.41%
EPS 2 - 485 1,289 1,250 1,784 1,924 1,929
Distribution rate - - - - 56% 39.8% 39.7%
Net sales 1 - 22,138,403 26,254,333 29,078,056 32,338,200 32,461,000 34,062,667
EBITDA 1 7,498,877 4,995,423 6,839,690 8,068,273 8,905,000 8,689,667 10,028,000
EBIT 1 - 2,506,997 4,213,868 4,965,910 6,043,600 6,055,000 6,734,333
Net income 1 - 2,623,175 4,213,320 5,318,552 6,970,750 7,517,667 7,433,000
Net Debt - - - - - - -
Reference price 2 36,950.00 21,200.00 30,350.00 26,200.00 31,850.00 31,850.00 31,850.00
Nbr of stocks (in thousands) 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 - -
Announcement Date 05/04/22 20/03/24 26/01/25 29/03/26 - - -
1VND in Million2VND
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.82x - - 3.14% 4.9B
13.17x1x5.3x3.5% 30.65B
14.07x1.02x5.72x3.9% 27.32B
8.12x1.1x5.24x3.53% 6.97B
10.81x1.11x6.26x2.74% 6.85B
9.47x - - 3.21% 6.24B
7.47x0.8x3.89x3.95% 3.52B
9.08x0.63x5.06x4.46% 3.38B
35.7x1.91x10.76x1.87% 2.57B
5.44x0.32x2.93x3.47% 2.18B
Average 13.11x 0.99x 5.65x 3.38% 9.46B
Weighted average by Cap. 12.96x 1.01x 5.55x 3.53%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  4. Valuation Vietnam Rubber Industry Group -
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