Financials Digiworld Corporation

Equities

DGW

VN000000DGW9

Computer & Electronics Retailers

End-of-day quote Ho Chi Minh S.E. Other stock markets 06:00:00 2024-05-27 pm EDT			5-day change	1st Jan Change
64,500 ^VND	+2.54%		+0.78%	+23.33%

Apr. 26	Digiworld Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Apr. 26	Digiworld Corporation agreed to acquire a 50.9% stake in B2X Vietnam Holding Joint Stock Company from B2X Care Solutions GmbH.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	961,406	3,685,124	10,952,829	6,156,099	8,737,917	10,774,936	-	-
Enterprise Value (EV) ¹	961,406	3,685,124	10,952,829	7,284,242	9,614,540	11,419,336	11,246,336	10,905,836
P/E ratio	5.9 x	14.6 x	11.2 x	8.94 x	24.6 x	22.5 x	16.9 x	13.5 x
Yield	-	1.17%	-	-	-	1.16%	1.55%	1.94%
Capitalization / Revenue	0.11 x	0.29 x	0.52 x	0.28 x	0.46 x	0.48 x	0.43 x	0.39 x
EV / Revenue	0.11 x	0.29 x	0.52 x	0.33 x	0.51 x	0.51 x	0.45 x	0.39 x
EV / EBITDA	-	11 x	15.8 x	8.91 x	20.9 x	18.8 x	14.1 x	11.1 x
EV / FCF	-	-	-	-	17.9 x	36.7 x	18.7 x	14.6 x
FCF Yield	-	-	-	-	5.6%	2.73%	5.34%	6.85%
Price to Book	1.04 x	3.22 x	4.12 x	2.55 x	3.33 x	-	-	-
Nbr of stocks (in thousands)	150,481	154,801	159,121	163,075	167,073	167,053	-	-
Reference price ²	6,389	23,806	68,833	37,750	52,300	64,500	64,500	64,500
Announcement Date	1/20/20	1/21/21	1/24/22	1/30/23	1/31/24	-	-	-

¹VND in Million²VND

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	8,492,676	12,535,638	20,971,016	22,059,208	18,817,475	22,283,433	25,147,100	27,939,850
EBITDA ¹	-	334,549	694,773	817,706	459,623	608,700	798,350	986,150
EBIT ¹	210,643	329,518	689,059	804,870	417,220	572,450	759,700	945,300
Operating Margin	2.48%	2.63%	3.29%	3.65%	2.22%	2.57%	3.02%	3.38%
Earnings before Tax (EBT) ¹	210,086	331,316	822,891	862,368	470,569	623,500	836,800	1,048,000
Net income ¹	162,869	253,095	657,390	683,783	354,389	489,867	642,767	811,350
Net margin	1.92%	2.02%	3.13%	3.1%	1.88%	2.2%	2.56%	2.9%
EPS ²	1,082	1,635	6,154	4,221	2,123	2,866	3,821	4,784
Free Cash Flow ¹	-	-	-	-	538,232	311,200	601,100	747,050
FCF margin	-	-	-	-	2.86%	1.4%	2.39%	2.67%
FCF Conversion (EBITDA)	-	-	-	-	117.1%	51.13%	75.29%	75.75%
FCF Conversion (Net income)	-	-	-	-	151.88%	63.53%	93.52%	92.07%
Dividend per Share ²	-	277.8	-	-	-	750.0	1,000	1,250
Announcement Date	1/20/20	1/21/21	1/24/22	1/30/23	1/31/24	-	-	-

¹VND in Million²VND

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2022 Q1	2023 Q2	2023 Q3	2023 Q4
Net sales ¹	4,892,691	7,008,700	-	5,412,765	4,848,977
EBITDA	-	-	-	-	-
EBIT	-	-	-	-	-
Operating Margin	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-
Net income ¹	-	210,838	83,016	102,415	89,568
Net margin	-	3.01%	-	1.89%	1.85%
EPS	-	-	509.0	-	-
Dividend per Share	-	-	-	-	-
Announcement Date	7/20/20	4/26/22	7/28/23	10/27/23	1/31/24

¹VND in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	1,128,143	876,624	644,400	471,400	130,900
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	1.38 x	1.907 x	1.059 x	0.5905 x	0.1327 x
Free Cash Flow ¹	-	-	-	-	538,232	311,200	601,100	747,050
ROE (net income / shareholders' equity)	19.3%	24.5%	44.7%	32.8%	14%	17%	19.6%	21%
ROA (Net income/ Total Assets)	7.02%	9.25%	13.7%	10.6%	5.12%	6.3%	7.95%	9.4%
Assets ¹	2,321,177	2,736,168	4,808,310	6,450,056	6,928,428	7,775,661	8,085,115	8,631,383
Book Value Per Share	6,131	7,383	16,703	14,780	15,724	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	-	-	12,426	13,227	29,947	16,500	16,500	11,500
Capex / Sales	-	-	0.06%	0.06%	0.16%	0.07%	0.07%	0.04%
Announcement Date	1/20/20	1/21/21	1/24/22	1/30/23	1/31/24	-	-	-

¹VND in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Digiworld Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

64,500 VND

Average target price

57,071 VND

Spread / Average Target

-11.52%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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