Financials An Pha Petroleum Group

Equities

ASP

VN000000ASP4

Oil & Gas Refining and Marketing

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-06-20 pm EDT 5-day change 1st Jan Change
4,630 VND +2.89% Intraday chart for An Pha Petroleum Group -1.49% -3.54%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 231,505 268,471 237,106 517,153 192,672 179,230
Enterprise Value (EV) 1 858,691 862,812 970,121 908,530 792,661 695,191
P/E ratio 4.07 x 6.75 x 7.22 x 20.4 x 127 x -2.15 x
Yield 8.06% 6.95% 7.87% 3.61% - -
Capitalization / Revenue 0.09 x 0.1 x 0.09 x 0.15 x 0.05 x 0.05 x
EV / Revenue 0.33 x 0.34 x 0.36 x 0.27 x 0.19 x 0.19 x
EV / EBITDA 7.91 x 6.96 x 45.8 x 18.7 x 29.5 x -23.3 x
EV / FCF 40.9 x 9.13 x -54.8 x 3.86 x -2.91 x -9.32 x
FCF Yield 2.45% 11% -1.83% 25.9% -34.3% -10.7%
Price to Book 0.51 x 0.56 x 0.48 x 1.08 x 0.42 x 0.5 x
Nbr of stocks (in thousands) 37,340 37,340 37,340 37,340 37,340 37,340
Reference price 2 6,200 7,190 6,350 13,850 5,160 4,800
Announcement Date 3/30/19 4/10/20 4/26/21 4/8/22 4/3/23 4/1/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,641,932 2,558,352 2,723,450 3,391,420 4,082,068 3,722,693
EBITDA 1 108,581 124,003 21,193 48,560 26,912 -29,827
EBIT 1 89,371 71,194 -36,435 15,559 -2,694 -66,933
Operating Margin 3.38% 2.78% -1.34% 0.46% -0.07% -1.8%
Earnings before Tax (EBT) 1 67,618 61,014 46,978 33,170 22,350 -71,860
Net income 1 56,946 39,746 33,369 25,375 1,514 -83,432
Net margin 2.16% 1.55% 1.23% 0.75% 0.04% -2.24%
EPS 2 1,525 1,064 879.6 679.6 40.55 -2,234
Free Cash Flow 1 21,010 94,502 -17,718 235,310 -272,230 -74,605
FCF margin 0.8% 3.69% -0.65% 6.94% -6.67% -2%
FCF Conversion (EBITDA) 19.35% 76.21% - 484.57% - -
FCF Conversion (Net income) 36.9% 237.76% - 927.34% - -
Dividend per Share 2 500.0 500.0 500.0 500.0 - -
Announcement Date 3/30/19 4/10/20 4/26/21 4/8/22 4/3/23 4/1/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 627,186 594,341 733,014 391,378 599,989 515,961
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 5.776 x 4.793 x 34.59 x 8.06 x 22.29 x -17.3 x
Free Cash Flow 1 21,010 94,502 -17,718 235,310 -272,230 -74,605
ROE (net income / shareholders' equity) 12.2% 8.2% 6.38% 5.07% 2.79% -19.1%
ROA (Net income/ Total Assets) 3.83% 2.78% -1.33% 0.51% -0.08% -1.91%
Assets 1 1,487,189 1,428,392 -2,507,994 4,990,098 -1,857,965 4,362,681
Book Value Per Share 2 12,261 12,822 13,206 12,781 12,341 9,647
Cash Flow per Share 2 1,521 915.0 1,265 5,817 3,287 5,784
Capex 1 23,347 26,419 8,777 14,375 3,460 61,763
Capex / Sales 0.88% 1.03% 0.32% 0.42% 0.08% 1.66%
Announcement Date 3/30/19 4/10/20 4/26/21 4/8/22 4/3/23 4/1/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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