Financials Bentre Aquaproduct Import and Export

Equities

ABT

VN000000ABT2

Food Processing

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-05-21 pm EDT 5-day change 1st Jan Change
35,400 VND +1.14% Intraday chart for Bentre Aquaproduct Import and Export +1.14% +1.14%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 462,190 413,901 366,762 410,452 408,671 412,204
Enterprise Value (EV) 1 511,996 447,242 397,182 466,846 354,768 355,586
P/E ratio 6.93 x 8.5 x 25.7 x 12.1 x 6.29 x 7.14 x
Yield 12.4% 8.33% - 5.6% 8.65% -
Capitalization / Revenue 1.17 x 1.15 x 1.15 x 1.2 x 0.66 x 0.77 x
EV / Revenue 1.29 x 1.24 x 1.25 x 1.37 x 0.58 x 0.67 x
EV / EBITDA 7.97 x 13.6 x 25.7 x 16.8 x 5.48 x 6.04 x
EV / FCF -15.8 x -30.1 x 79.3 x -15.1 x 3.52 x 1,168 x
FCF Yield -6.33% -3.33% 1.26% -6.62% 28.4% 0.09%
Price to Book 1.1 x 1 x 0.89 x 0.98 x 0.87 x 0.84 x
Nbr of stocks (in thousands) 11,497 11,497 11,497 11,497 11,777 11,777
Reference price 2 40,200 36,000 31,900 35,700 34,700 35,000
Announcement Date 3/27/19 3/30/20 3/30/21 3/25/22 3/27/23 3/27/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 395,938 361,150 318,110 341,647 616,639 532,664
EBITDA 1 64,221 32,904 15,449 27,719 64,690 58,827
EBIT 1 58,372 26,642 8,251 19,723 55,438 47,449
Operating Margin 14.74% 7.38% 2.59% 5.77% 8.99% 8.91%
Earnings before Tax (EBT) 1 73,554 50,705 16,365 36,379 69,988 70,445
Net income 1 66,729 48,695 14,288 33,793 64,289 63,872
Net margin 16.85% 13.48% 4.49% 9.89% 10.43% 11.99%
EPS 2 5,804 4,235 1,243 2,939 5,513 4,900
Free Cash Flow 1 -32,411 -14,881 5,012 -30,912 100,734 304.5
FCF margin -8.19% -4.12% 1.58% -9.05% 16.34% 0.06%
FCF Conversion (EBITDA) - - 32.44% - 155.72% 0.52%
FCF Conversion (Net income) - - 35.08% - 156.69% 0.48%
Dividend per Share 2 5,000 3,000 - 2,000 3,000 -
Announcement Date 3/27/19 3/30/20 3/30/21 3/25/22 3/27/23 3/27/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 49,806 33,341 30,419 56,394 - -
Net Cash position 1 - - - - 53,902 56,618
Leverage (Debt/EBITDA) 0.7755 x 1.013 x 1.969 x 2.034 x - -
Free Cash Flow 1 -32,411 -14,881 5,012 -30,912 100,734 305
ROE (net income / shareholders' equity) 16.2% 11.7% 3.47% 8.15% 14.5% 13.3%
ROA (Net income/ Total Assets) 6.24% 3.1% 0.95% 2.17% 5.69% 4.66%
Assets 1 1,069,906 1,570,464 1,499,271 1,559,879 1,128,889 1,371,901
Book Value Per Share 2 36,502 35,934 35,720 36,408 39,983 41,675
Cash Flow per Share 2 2,638 2,164 4,926 5,920 10,809 939.0
Capex 1 8,782 9,108 16,913 30,022 23,428 12,109
Capex / Sales 2.22% 2.52% 5.32% 8.79% 3.8% 2.27%
Announcement Date 3/27/19 3/30/20 3/30/21 3/25/22 3/27/23 3/27/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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