SOUTHERN GAS TRADING |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 32,600 VND | -2.69% |
|
+3.49% | +17.69% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 1,509,964 | 1,419,966 | 999,976 | 1,249,970 | 1,289,969 | 1,384,967 |
| Enterprise Value (EV) 1 | 1,091,985 | 1,484,458 | 1,169,812 | 839,082 | 1,205,630 | 1,151,736 |
| P/E ratio | 18 x | 27.3 x | 21.5 x | 18.1 x | 15 x | 14.6 x |
| Yield | 4.97% | 2.82% | 5% | 6% | 7.75% | 5.42% |
| Capitalization / Revenue | 0.23 x | 0.22 x | 0.21 x | 0.22 x | 0.19 x | 0.24 x |
| EV / Revenue | 0.17 x | 0.23 x | 0.24 x | 0.15 x | 0.18 x | 0.2 x |
| EV / EBITDA | 4.23 x | 7.09 x | 6.26 x | 4.39 x | 5.99 x | 5.53 x |
| EV / FCF | 1.84 x | -3.43 x | -32.8 x | 1.28 x | -4.52 x | 6 x |
| FCF Yield | 54.3% | -29.2% | -3.05% | 78.4% | -22.1% | 16.7% |
| Price to Book | 1.58 x | 1.45 x | 1.01 x | 1.24 x | 1.27 x | 1.37 x |
| Nbr of stocks (in thousands) | 49,999 | 49,999 | 49,999 | 49,999 | 49,999 | 49,999 |
| Reference price 2 | 30,200 | 28,400 | 20,000 | 25,000 | 25,800 | 27,700 |
| Announcement Date | 3/26/19 | 3/26/20 | 4/5/21 | 3/31/22 | 3/28/23 | 4/8/24 |
1VND in Million2VND
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 6,574,596 | 6,382,833 | 4,800,561 | 5,614,656 | 6,820,689 | 5,677,353 |
| EBITDA 1 | 258,451 | 209,428 | 186,770 | 191,271 | 201,417 | 208,314 |
| EBIT 1 | 132,103 | 88,680 | 87,573 | 105,867 | 118,541 | 142,876 |
| Operating Margin | 2.01% | 1.39% | 1.82% | 1.89% | 1.74% | 2.52% |
| Earnings before Tax (EBT) 1 | 137,302 | 93,186 | 72,633 | 99,659 | 124,104 | 145,579 |
| Net income 1 | 109,638 | 74,251 | 56,827 | 79,186 | 98,859 | 106,160 |
| Net margin | 1.67% | 1.16% | 1.18% | 1.41% | 1.45% | 1.87% |
| EPS 2 | 1,679 | 1,039 | 930.6 | 1,384 | 1,717 | 1,903 |
| Free Cash Flow 1 | 593,422 | -433,311 | -35,657 | 657,727 | -266,448 | 192,051 |
| FCF margin | 9.03% | -6.79% | -0.74% | 11.71% | -3.91% | 3.38% |
| FCF Conversion (EBITDA) | 229.61% | - | - | 343.87% | - | 92.19% |
| FCF Conversion (Net income) | 541.25% | - | - | 830.61% | - | 180.91% |
| Dividend per Share 2 | 1,500 | 800.0 | 1,000 | 1,500 | 2,000 | 1,500 |
| Announcement Date | 3/26/19 | 3/26/20 | 4/5/21 | 3/31/22 | 3/28/23 | 4/8/24 |
1VND in Million2VND
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | 64,492 | 169,836 | - | - | - |
| Net Cash position 1 | 417,978 | - | - | 410,888 | 84,339 | 233,231 |
| Leverage (Debt/EBITDA) | - | 0.3079 x | 0.9093 x | - | - | - |
| Free Cash Flow 1 | 593,422 | -433,311 | -35,657 | 657,727 | -266,448 | 192,051 |
| ROE (net income / shareholders' equity) | 11.4% | 7.67% | 5.77% | 7.94% | 9.76% | 10.5% |
| ROA (Net income/ Total Assets) | 3.47% | 2.38% | 2.43% | 2.78% | 3.09% | 3.48% |
| Assets 1 | 3,158,154 | 3,115,353 | 2,342,703 | 2,848,633 | 3,202,112 | 3,047,691 |
| Book Value Per Share 2 | 19,105 | 19,634 | 19,766 | 20,135 | 20,380 | 20,196 |
| Cash Flow per Share 2 | 8,591 | 4,244 | 7,318 | 8,424 | 6,621 | 15,228 |
| Capex 1 | 118,345 | 24,375 | 38,655 | 47,343 | 97,101 | 81,200 |
| Capex / Sales | 1.8% | 0.38% | 0.81% | 0.84% | 1.42% | 1.43% |
| Announcement Date | 3/26/19 | 3/26/20 | 4/5/21 | 3/31/22 | 3/28/23 | 4/8/24 |
1VND in Million2VND
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +17.69% | 64.49M | |
| +13.50% | 238B | |
| +9.28% | 107B | |
| +15.40% | 100B | |
| +20.63% | 64.51B | |
| +5.31% | 60.72B | |
| +19.74% | 52.28B | |
| +22.81% | 36.9B | |
| +30.03% | 27.86B | |
| -10.53% | 21.09B |
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