Financials Vinh Hoan Corporation

Equities

VHC

VN000000VHC1

Food Processing

End-of-day quote Ho Chi Minh S.E. 23:00:00 19/06/2024 BST 5-day change 1st Jan Change
75,100 VND -0.92% Intraday chart for Vinh Hoan Corporation -3.10% +21.13%

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 16,856,450 - -
Enterprise Value (EV) 1 7,214,160 7,532,565 11,426,210 12,799,712 13,869,294 14,987,450 16,856,450 16,856,450
P/E ratio 3.15 x 10.7 x 10.4 x 6.45 x 12.7 x 12.7 x 9.43 x 7.98 x
Yield - 5.58% 3.18% - 3.23% 2.66% 2.66% 2.66%
Capitalization / Revenue 0.92 x 1.07 x 1.26 x 0.97 x 1.39 x 1.47 x 1.29 x 1.14 x
EV / Revenue 0.92 x 1.07 x 1.26 x 0.97 x 1.38 x 1.3 x 1.29 x 1.14 x
EV / EBITDA 5.56 x 8.53 x 7.71 x 4.96 x 10.4 x 7.62 x 6.78 x 5.8 x
EV / FCF 6.49 x -40.6 x 333 x 151 x -145 x 8.41 x 8.45 x 6.7 x
FCF Yield 15.4% -2.46% 0.3% 0.66% -0.69% 11.9% 11.8% 14.9%
Price to Book 1.48 x 1.46 x 1.94 x 1.66 x 1.39 x 1.71 x 1.5 x 1.42 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 75,100 75,100 75,100
Announcement Date 21/01/20 20/01/21 21/01/22 09/02/23 23/01/24 - - -
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 11,490,833 13,035,600 14,835,500
EBITDA 1 1,297,668 883,211 1,481,561 2,580,520 1,330,024 1,968,000 2,487,333 2,906,000
EBIT 1 1,132,464 682,683 1,196,183 2,253,062 927,591 1,429,600 1,881,400 2,345,500
Operating Margin 14.39% 9.7% 13.21% 17.02% 9.24% 12.44% 14.43% 15.81%
Earnings before Tax (EBT) 1 1,309,371 791,080 1,287,803 2,320,313 1,107,933 1,570,800 1,985,750 2,731,000
Net income 1 1,180,405 704,825 1,101,226 1,976,842 896,516 1,332,200 1,724,400 2,220,000
Net margin 15% 10.02% 12.16% 14.93% 8.93% 11.59% 13.23% 14.96%
EPS 2 10,478 3,228 5,043 9,012 4,880 5,926 7,967 9,408
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% 15.52% 15.31% 16.96%
FCF Conversion (EBITDA) 85.66% - 2.32% 3.28% - 90.6% 80.25% 86.58%
FCF Conversion (Net income) 94.17% - 3.12% 4.29% - 133.84% 115.75% 113.33%
Dividend per Share 2 - 1,926 1,667 - 2,000 2,000 2,000 2,000
Announcement Date 21/01/20 20/01/21 21/01/22 09/02/23 23/01/24 - - -
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
Net sales 1 - 2,692,921 - - 4,327,183 - 2,395,669 2,855,768
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
Net margin - 16.88% - - 18.12% - 1.99% 5.94%
EPS 1,793 - - 2,509 - 865.8 - -
Dividend per Share - - - - - - - -
Announcement Date 20/07/21 21/01/22 21/01/22 20/04/22 21/07/22 16/11/23 23/01/24 14/05/24
1VND in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - - - - 46,816 1,869,000 - -
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% 14.9% 17% 18.9%
ROA (Net income/ Total Assets) 18.3% 10.2% 13.8% 19.5% 7.67% 10.6% 12.1% 13.6%
Assets 1 6,455,450 6,907,133 7,967,771 10,159,011 11,694,547 12,520,677 14,310,373 16,323,529
Book Value Per Share 2 22,329 23,687 26,940 34,974 44,510 43,923 50,056 52,867
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% 6.64% 5.58% 3.39%
Announcement Date 21/01/20 20/01/21 21/01/22 09/02/23 23/01/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
75,100 VND
Average target price
80,164 VND
Spread / Average Target
+6.74%
Consensus
  1. Stock Market
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  4. Financials Vinh Hoan Corporation