Financials Digiworld Corporation

Equities

DGW

VN000000DGW9

Computer & Electronics Retailers

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
59,000 VND +1.20% Intraday chart for Digiworld Corporation +10.28% +12.81%

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 9,854,981 - -
Enterprise Value (EV) 1 961,406 3,685,124 10,952,829 7,284,242 9,614,540 10,417,181 10,035,681 9,466,081
P/E ratio 5.9 x 14.6 x 11.2 x 8.94 x 24.6 x 20.6 x 15.2 x 12 x
Yield - 1.17% - - - 1.27% 1.69% 2.12%
Capitalization / Revenue 0.11 x 0.29 x 0.52 x 0.28 x 0.46 x 0.45 x 0.4 x 0.36 x
EV / Revenue 0.11 x 0.29 x 0.52 x 0.33 x 0.51 x 0.47 x 0.4 x 0.34 x
EV / EBITDA - 11 x 15.8 x 8.91 x 20.9 x 17.3 x 12.8 x 9.69 x
EV / FCF - - - - 17.9 x 26.7 x 14.2 x 11 x
FCF Yield - - - - 5.6% 3.75% 7.03% 9.1%
Price to Book 1.04 x 3.22 x 4.12 x 2.55 x 3.33 x - - -
Nbr of stocks (in thousands) 150,481 154,801 159,121 163,075 167,073 167,034 - -
Reference price 2 6,389 23,806 68,833 37,750 52,300 59,000 59,000 59,000
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 21,979,433 24,924,767 27,606,350
EBITDA 1 - 334,549 694,773 817,706 459,623 602,000 781,850 976,750
EBIT 1 210,643 329,518 689,059 804,870 417,220 565,750 743,150 935,450
Operating Margin 2.48% 2.63% 3.29% 3.65% 2.22% 2.57% 2.98% 3.39%
Earnings before Tax (EBT) 1 210,086 331,316 822,891 862,368 470,569 624,350 848,400 1,076,650
Net income 1 162,869 253,095 657,390 683,783 354,389 488,433 646,167 828,600
Net margin 1.92% 2.02% 3.13% 3.1% 1.88% 2.22% 2.59% 3%
EPS 2 1,082 1,635 6,154 4,221 2,123 2,863 3,870 4,912
Free Cash Flow 1 - - - - 538,232 390,600 705,250 861,150
FCF margin - - - - 2.86% 1.78% 2.83% 3.12%
FCF Conversion (EBITDA) - - - - 117.1% 64.88% 90.2% 88.16%
FCF Conversion (Net income) - - - - 151.88% 79.97% 109.14% 103.93%
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 2021 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 4,892,691 3,825,124 7,008,700 - 5,412,765 4,848,977
EBITDA - - - - - -
EBIT - - - - - -
Operating Margin - - - - - -
Earnings before Tax (EBT) - - - - - -
Net income 1 - 107,215 210,838 83,016 102,415 89,568
Net margin - 2.8% 3.01% - 1.89% 1.85%
EPS - - - 509.0 - -
Dividend per Share - - - - - -
Announcement Date 7/20/20 10/29/21 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 - - - 1,128,143 876,624 562,200 180,700 -
Net Cash position 1 - - - - - - - 388,900
Leverage (Debt/EBITDA) - - - 1.38 x 1.907 x 0.9339 x 0.2311 x -
Free Cash Flow 1 - - - - 538,232 390,600 705,250 861,150
ROE (net income / shareholders' equity) 19.3% 24.5% 44.7% 32.8% 14% 16.9% 19.7% 21.4%
ROA (Net income/ Total Assets) 7.02% 9.25% 13.7% 10.6% 5.12% 6.25% 7.95% 9.4%
Assets 1 2,321,177 2,736,168 4,808,310 6,450,056 6,928,428 7,814,933 8,127,883 8,814,894
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% 0.08% 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

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
59,000 VND
Average target price
57,831 VND
Spread / Average Target
-1.98%
Consensus

Quarterly revenue - Rate of surprise

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