PETROVIETNAM GASCORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 73,500 VND | -0.68% |
|
-2.00% | -2.65% |
| Apr. 08 | PetroVietnam Power signs loan for LNG plants from Citibank, ING | RE |
| Apr. 08 | PetroVietnam Power says signed deal for $300 mln loan from Citibank, ING | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 179,337,832 | 165,748,733 | 184,122,726 | 194,266,702 | 173,403,858 | 168,810,379 | - | - |
| Enterprise Value (EV) 1 | 152,743,434 | 141,879,617 | 162,017,430 | 167,391,963 | 173,403,858 | 133,330,579 | 126,304,579 | 115,458,079 |
| P/E ratio | 15.2 x | 22.1 x | 22.1 x | 13.3 x | 15.2 x | 15.2 x | 13.9 x | 12.6 x |
| Yield | 4.8% | 3.46% | 3.12% | - | - | 4.08% | 5.44% | 5.44% |
| Capitalization / Revenue | 2.38 x | 2.58 x | 2.33 x | 1.93 x | 1.93 x | 1.9 x | 1.71 x | 1.65 x |
| EV / Revenue | 2.03 x | 2.21 x | 2.05 x | 1.66 x | 1.93 x | 1.5 x | 1.28 x | 1.13 x |
| EV / EBITDA | 9.32 x | 12.7 x | 11.9 x | 8.01 x | 10.9 x | 7.95 x | 6.77 x | 5.64 x |
| EV / FCF | 15 x | 59.3 x | 59 x | 16 x | 15.1 x | 17.8 x | 14.1 x | 10.1 x |
| FCF Yield | 6.66% | 1.69% | 1.69% | 6.23% | 6.61% | 5.61% | 7.09% | 9.92% |
| Price to Book | 3.69 x | 3.43 x | 3.53 x | 3.17 x | 2.66 x | 2.4 x | - | - |
| Nbr of stocks (in thousands) | 2,296,749 | 2,296,749 | 2,296,749 | 2,296,749 | 2,296,740 | 2,296,740 | - | - |
| Reference price 2 | 78,083 | 72,167 | 80,167 | 84,583 | 75,500 | 73,500 | 73,500 | 73,500 |
| Announcement Date | 1/20/20 | 1/21/21 | 1/21/22 | 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 | 75,348,056 | 64,150,007 | 78,992,156 | 100,723,549 | 90,014,137 | 88,700,075 | 98,699,033 | 102,422,567 |
| EBITDA 1 | 16,395,383 | 11,177,839 | 13,611,930 | 20,903,524 | 15,956,893 | 16,775,550 | 18,649,900 | 20,477,300 |
| EBIT 1 | 13,721,265 | 8,644,855 | 10,374,000 | 17,799,394 | 12,906,193 | 12,844,650 | 14,823,200 | 16,611,150 |
| Operating Margin | 18.21% | 13.48% | 13.13% | 17.67% | 14.34% | 14.48% | 15.02% | 16.22% |
| Earnings before Tax (EBT) 1 | 15,141,238 | 9,937,309 | 11,204,998 | 18,802,152 | 14,639,542 | 14,265,133 | 15,659,750 | 17,216,100 |
| Net income 1 | 11,940,829 | 7,811,769 | 8,672,965 | 14,794,446 | 11,606,031 | 11,326,900 | 12,771,333 | 13,651,567 |
| Net margin | 15.85% | 12.18% | 10.98% | 14.69% | 12.89% | 12.77% | 12.94% | 13.33% |
| EPS 2 | 5,122 | 3,261 | 3,630 | 6,372 | 4,972 | 4,841 | 5,296 | 5,822 |
| Free Cash Flow 1 | 10,168,799 | 2,390,885 | 2,745,272 | 10,434,769 | 11,456,340 | 7,482,950 | 8,949,100 | 11,455,800 |
| FCF margin | 13.5% | 3.73% | 3.48% | 10.36% | 12.73% | 8.44% | 9.07% | 11.18% |
| FCF Conversion (EBITDA) | 62.02% | 21.39% | 20.17% | 49.92% | 71.8% | 44.61% | 47.98% | 55.94% |
| FCF Conversion (Net income) | 85.16% | 30.61% | 31.65% | 70.53% | 98.71% | 66.06% | 70.07% | 83.92% |
| Dividend per Share 2 | 3,750 | 2,500 | 2,500 | - | - | 3,000 | 4,000 | 4,000 |
| Announcement Date | 1/20/20 | 1/21/21 | 1/21/22 | 1/30/23 | 1/31/24 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | 22,051,958 | - | - | - |
| EBITDA | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - |
| Net income 1 | 2,417,436 | 1,963,898 | 3,029,235 | - | 3,350,256 | 2,377,168 | 2,723,017 |
| Net margin | - | - | - | - | - | - | - |
| EPS | 1,035 | - | 1,302 | - | 1,458 | 1,218 | - |
| Dividend per Share | - | - | - | - | - | - | - |
| Announcement Date | 10/21/21 | 1/21/22 | 10/28/22 | 1/30/23 | 4/28/23 | 10/30/23 | 1/31/24 |
1VND in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 26,594,398 | 23,869,116 | 22,105,296 | 26,874,739 | - | 35,479,800 | 42,505,800 | 53,352,300 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 10,168,799 | 2,390,885 | 2,745,272 | 10,434,769 | 11,456,340 | 7,482,950 | 8,949,100 | 11,455,800 |
| ROE (net income / shareholders' equity) | 25.5% | 16.1% | 17.1% | 26.1% | 18.7% | 16.8% | 17.2% | 17.6% |
| ROA (Net income/ Total Assets) | 19.1% | 12.5% | 12.2% | 18.3% | 13.6% | 12.7% | 12.6% | 12.6% |
| Assets 1 | 62,435,705 | 62,634,454 | 70,973,528 | 80,786,576 | 85,208,768 | 89,364,103 | 101,763,612 | 108,777,424 |
| Book Value Per Share 2 | 21,136 | 21,058 | 22,725 | 26,698 | 28,431 | 30,680 | - | - |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 2,664,088 | 5,297,535 | 4,566,505 | 2,005,384 | 1,769,356 | 8,322,500 | 13,906,000 | 12,683,000 |
| Capex / Sales | 3.54% | 8.26% | 5.78% | 1.99% | 1.97% | 9.38% | 14.09% | 12.38% |
| Announcement Date | 1/20/20 | 1/21/21 | 1/21/22 | 1/30/23 | 1/31/24 | - | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
73,500
VND
Average target price
85,072
VND
Spread / Average Target
+15.74%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -2.65% | 6.66B | |
| -8.79% | 1,942B | |
| +17.98% | 465B | |
| +46.12% | 259B | |
| +12.91% | 232B | |
| +11.84% | 108B | |
| -5.74% | 80.36B | |
| -0.57% | 52.04B | |
| -.--% | 50.84B | |
| +26.90% | 50.66B |
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- Financials Petrovietnam GasCorporation
