Financials Danang Rubber

Equities

DRC

VN000000DRC8

Tires & Rubber Products

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
29,450 VND -0.84% Intraday chart for Danang Rubber +1.55% +11.13%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,767,868 2,726,290 3,878,579 2,447,128 3,148,004 3,498,442 - -
Enterprise Value (EV) 1 2,767,868 2,726,290 3,878,579 2,447,128 3,148,004 3,498,442 3,498,442 3,498,442
P/E ratio 11.1 x 10.6 x 13.3 x 7.93 x 12.7 x 12 x 11.1 x 11.4 x
Yield 6.44% 6.54% 5.21% 8.74% - 6.23% 6.45% 5.77%
Capitalization / Revenue 0.72 x 0.75 x 0.89 x 0.5 x 0.7 x 0.67 x 0.59 x 0.58 x
EV / Revenue 0.72 x 0.75 x 0.89 x 0.5 x 0.7 x 0.67 x 0.59 x 0.58 x
EV / EBITDA 4.2 x 4.67 x 7.4 x 4.35 x 6.94 x 6.63 x 6.29 x 5.74 x
EV / FCF 7.39 x 3.41 x -32.7 x 66.3 x - -13.6 x 62.5 x 64.8 x
FCF Yield 13.5% 29.3% -3.05% 1.51% - -7.37% 1.6% 1.54%
Price to Book 1.7 x 1.62 x 2.19 x 1.28 x - 1.87 x 1.8 x -
Nbr of stocks (in thousands) 118,793 118,793 118,793 118,793 118,793 118,793 - -
Reference price 2 23,300 22,950 32,650 20,600 26,500 29,450 29,450 29,450
Announcement Date 1/17/20 1/20/21 1/20/22 1/17/23 1/19/24 - - -
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,858,121 3,646,641 4,379,518 4,898,588 4,495,175 5,186,250 5,886,000 6,030,000
EBITDA 1 659,470 583,469 524,144 563,185 453,429 527,667 556,000 609,000
EBIT 1 - 322,082 365,263 385,530 306,989 403,750 443,333 471,000
Operating Margin - 8.83% 8.34% 7.87% 6.83% 7.79% 7.53% 7.81%
Earnings before Tax (EBT) 1 312,993 320,514 364,265 386,675 307,092 380,750 413,000 384,000
Net income 1 250,385 256,548 290,948 308,471 247,741 304,250 330,333 307,000
Net margin 6.49% 7.04% 6.64% 6.3% 5.51% 5.87% 5.61% 5.09%
EPS 2 2,108 2,160 2,449 2,597 2,085 2,461 2,644 2,585
Free Cash Flow 1 374,707 799,770 -118,466 36,896 - -258,000 56,000 54,000
FCF margin 9.71% 21.93% -2.71% 0.75% - -4.97% 0.95% 0.9%
FCF Conversion (EBITDA) 56.82% 137.07% - 6.55% - - 10.07% 8.87%
FCF Conversion (Net income) 149.65% 311.74% - 11.96% - - 16.95% 17.59%
Dividend per Share 2 1,500 1,500 1,700 1,800 - 1,833 1,900 1,700
Announcement Date 1/17/20 1/20/21 1/20/22 1/17/23 1/19/24 - - -
1VND in Million2VND
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q2 2022 Q3 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 - 1,233,533 - 1,161,569 1,123,476 1,097,366
EBITDA - - - - - -
EBIT 1 - - - 62,835 - 121,813
Operating Margin - - - 5.41% - 11.1%
Earnings before Tax (EBT) - - - - - -
Net income 1 83,881 79,486 25,407 50,914 - 95,771
Net margin - 6.44% - 4.38% - 8.73%
EPS 706.0 - 214.0 - - -
Dividend per Share - - - - - -
Announcement Date 7/15/22 1/17/23 4/18/23 7/17/23 10/16/23 1/19/24
1VND in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 374,707 799,770 -118,466 36,896 - -258,000 56,000 54,000
ROE (net income / shareholders' equity) 15.9% 15.5% 16.8% 16.7% 13.2% 15.8% 17.6% 14.7%
ROA (Net income/ Total Assets) 9.04% 9.98% 10.5% 9.41% 7.26% 8.58% 8.87% 7.3%
Assets 1 2,770,601 2,569,383 2,784,192 3,279,579 3,412,175 3,548,105 3,725,563 4,205,479
Book Value Per Share 2 13,738 14,206 14,933 16,084 - 15,717 16,393 -
Cash Flow per Share - - - - - - - -
Capex 1 4,951 9,147 9,282 13,900 223,619 566,500 187,000 206,000
Capex / Sales 0.13% 0.25% 0.21% 0.28% 4.97% 10.92% 3.18% 3.42%
Announcement Date 1/17/20 1/20/21 1/20/22 1/17/23 1/19/24 - - -
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
HOLD
Number of Analysts
4
Last Close Price
29,450 VND
Average target price
33,150 VND
Spread / Average Target
+12.56%
Consensus

Quarterly revenue - Rate of surprise

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