Financials Long An Food Processing Export

Equities

LAF

VN000000LAF0

Food Processing

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
14,000 VND +1.45% Intraday chart for Long An Food Processing Export +1.08% +6.87%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 80,857 150,962 160,535 360,836 225,339 192,937
Enterprise Value (EV) 1 138,758 234,805 177,276 393,622 381,724 277,871
P/E ratio -1.27 x 8.45 x 6.62 x 10 x 8.75 x 6.74 x
Yield - - - - 9.8% 11.5%
Capitalization / Revenue 0.14 x 0.32 x 0.4 x 0.87 x 0.44 x 0.45 x
EV / Revenue 0.24 x 0.5 x 0.44 x 0.95 x 0.75 x 0.64 x
EV / EBITDA -2.81 x 7.75 x 5.1 x 7.13 x 6.11 x 4.81 x
EV / FCF 3.02 x -6.41 x 3.93 x -15.2 x -4.5 x 4.66 x
FCF Yield 33.1% -15.6% 25.4% -6.57% -22.2% 21.5%
Price to Book 0.69 x 1.12 x 1.01 x 1.84 x 1.2 x 0.87 x
Nbr of stocks (in thousands) 14,728 14,728 14,728 14,728 14,728 14,728
Reference price 2 5,490 10,250 10,900 24,500 15,300 13,100
Announcement Date 3/20/19 3/24/20 3/17/21 3/14/22 3/20/23 3/18/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 572,810 468,603 405,277 415,382 509,816 431,496
EBITDA 1 -49,317 30,301 34,741 55,207 62,429 57,790
EBIT 1 -56,724 22,129 25,387 45,416 51,115 45,271
Operating Margin -9.9% 4.72% 6.26% 10.93% 10.03% 10.49%
Earnings before Tax (EBT) 1 -63,283 17,873 24,253 43,238 32,577 36,205
Net income 1 -63,558 17,873 24,253 39,631 25,742 28,618
Net margin -11.1% 3.81% 5.98% 9.54% 5.05% 6.63%
EPS 2 -4,315 1,214 1,647 2,439 1,748 1,943
Free Cash Flow 1 45,884 -36,639 45,085 -25,867 -84,845 59,687
FCF margin 8.01% -7.82% 11.12% -6.23% -16.64% 13.83%
FCF Conversion (EBITDA) - - 129.77% - - 103.28%
FCF Conversion (Net income) - - 185.89% - - 208.56%
Dividend per Share - - - - 1,500 1,500
Announcement Date 3/20/19 3/24/20 3/17/21 3/14/22 3/20/23 3/18/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 57,901 83,843 16,741 32,785 156,386 84,934
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) -1.174 x 2.767 x 0.4819 x 0.5939 x 2.505 x 1.47 x
Free Cash Flow 1 45,884 -36,639 45,085 -25,867 -84,845 59,687
ROE (net income / shareholders' equity) -42.9% 14.3% 16.6% 22.3% 13.4% 14%
ROA (Net income/ Total Assets) -10.6% 5.93% 6.89% 11.7% 9.35% 7.69%
Assets 1 600,096 301,601 352,046 340,181 275,336 372,096
Book Value Per Share 2 7,906 9,119 10,766 13,339 12,701 15,056
Cash Flow per Share 2 1,686 303.0 808.0 1,664 872.0 418.0
Capex 1 22,246 13,685 17,711 18,481 15,791 17,745
Capex / Sales 3.88% 2.92% 4.37% 4.45% 3.1% 4.11%
Announcement Date 3/20/19 3/24/20 3/17/21 3/14/22 3/20/23 3/18/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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