Financials Petrolimex Insurance Corporation

Equities

PGI

VN000000PGI2

Property & Casualty Insurance

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
24,850 VND +3.97% Intraday chart for Petrolimex Insurance Corporation -1.39% +4.85%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,605,792 1,729,997 1,920,740 2,586,123 2,972,034 2,628,254
Enterprise Value (EV) 1 1,428,589 1,619,180 1,810,979 2,485,414 2,862,740 2,842,736
P/E ratio 11.3 x 11.5 x 13.1 x 8.13 x 13.6 x 11.5 x
Yield 6.63% 6.67% 5.54% 2.74% - -
Capitalization / Revenue 0.64 x 0.65 x 0.64 x 0.83 x 0.94 x 0.78 x
EV / Revenue 0.57 x 0.61 x 0.6 x 0.79 x 0.91 x 0.85 x
EV / EBITDA 5.94 x 6.63 x 6.68 x 5.02 x 9.63 x 8.91 x
EV / FCF 6.46 x 40.3 x 5.41 x 14.8 x 13.1 x -10.2 x
FCF Yield 15.5% 2.48% 18.5% 6.74% 7.62% -9.85%
Price to Book 1.08 x 1.13 x 1.3 x 1.45 x 1.77 x 1.41 x
Nbr of stocks (in thousands) 110,897 110,897 110,897 110,897 110,897 110,897
Reference price 2 14,480 15,600 17,320 23,320 26,800 23,700
Announcement Date 3/15/19 6/25/20 3/16/21 3/17/22 3/17/23 3/13/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,505,832 2,675,498 2,998,278 3,131,507 3,145,316 3,353,266
EBITDA 1 240,626 244,323 271,094 494,944 297,124 318,884
EBIT 1 207,668 213,023 232,002 458,297 261,371 285,929
Operating Margin 8.29% 7.96% 7.74% 14.64% 8.31% 8.53%
Earnings before Tax (EBT) 1 175,105 200,679 216,955 436,861 252,684 283,677
Net income 1 141,601 162,607 175,461 352,039 203,726 229,086
Net margin 5.65% 6.08% 5.85% 11.24% 6.48% 6.83%
EPS 2 1,277 1,362 1,321 2,868 1,970 2,066
Free Cash Flow 1 221,083 40,227 334,650 167,623 218,173 -279,939
FCF margin 8.82% 1.5% 11.16% 5.35% 6.94% -8.35%
FCF Conversion (EBITDA) 91.88% 16.46% 123.44% 33.87% 73.43% -
FCF Conversion (Net income) 156.13% 24.74% 190.73% 47.61% 107.09% -
Dividend per Share 2 960.0 1,040 960.0 640.0 - -
Announcement Date 3/15/19 6/25/20 3/16/21 3/17/22 3/17/23 3/13/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - 214,481
Net Cash position 1 177,202 110,817 109,761 100,709 109,294 -
Leverage (Debt/EBITDA) - - - - - 0.6726 x
Free Cash Flow 1 221,083 40,227 334,650 167,623 218,173 -279,939
ROE (net income / shareholders' equity) 9.58% 10.7% 11.6% 21.6% 11.8% 12.9%
ROA (Net income/ Total Assets) 2.5% 2.38% 2.42% 4.59% 2.49% 2.52%
Assets 1 5,662,473 6,845,172 7,237,313 7,672,364 8,186,708 9,108,807
Book Value Per Share 2 13,434 13,866 13,343 16,032 15,154 16,814
Cash Flow per Share 2 1,598 999.0 990.0 908.0 986.0 1,294
Capex 1 62,456 23,708 63,569 53,899 53,783 63,529
Capex / Sales 2.49% 0.89% 2.12% 1.72% 1.71% 1.89%
Announcement Date 3/15/19 6/25/20 3/16/21 3/17/22 3/17/23 3/13/24
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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