Valuation The Southern Rubber Industry

Stocks

End-of-day quote Ho Chi Minh S.E. 2026-11-09			5-day change	1st Jan Change
11,600.00 ^VND	+0.43%		-2.52%	-13.11%

Oct. 19	The Southern Rubber Industry Joint Stock Company Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2026	CI
Oct. 09	Casumina Joint Stock Company Announces Board Resignations	CI

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025
Market Cap ¹	1,823,805	1,958,517	1,492,204	1,264,228	1,601,010	1,383,397
Change	-	7.39%	-23.81%	-15.28%	26.64%	-13.59%
Enterprise Value (EV) ¹	3,690,747	4,156,854	3,743,121	2,961,335	3,044,408	2,435,640
Change	-	12.63%	-9.95%	-20.89%	2.81%	-20%
P/E	20.1x	46.6x	26x	31.8x	35.7x	32.5x
PBR	1.43x	1.56x	1.15x	0.95x	1.18x	1.01x
PEG	-	-0.9x	0.7x	-1x	2.8x	-6.42x
Capitalization / Revenue	0.39x	0.4x	0.28x	0.24x	0.34x	0.33x
EV / Revenue	0.79x	0.86x	0.7x	0.57x	0.65x	0.59x
EV / EBITDA	8.08x	11x	8.07x	7.97x	9.95x	9.03x
EV / EBIT	15.3x	24.7x	15x	17.4x	26.3x	21.4x
EV / FCF	15x	-14x	-888x	5.61x	14.7x	6.24x
FCF Yield	6.65%	-7.13%	-0.11%	17.8%	6.79%	16%
Dividend per Share ²	-	300	300	300	300	-
Rate of return	-	1.59%	2.08%	2.46%	1.94%	-
EPS ²	874.9	405.5	554.2	383.8	432.6	410.7
Distribution rate	-	74%	54.1%	78.2%	69.4%	-
Net sales ¹	4,692,034	4,839,508	5,320,632	5,234,907	4,712,176	4,142,875
EBITDA ¹	456,525	377,108	464,111	371,774	305,873	269,697
EBIT ¹	240,871	168,342	249,823	170,668	115,562	113,819
Net income ¹	90,661	42,015	79,185	60,375	72,071	42,555
Net Debt ¹	1,866,942	2,198,336	2,250,917	1,697,107	1,443,398	1,052,243
Reference price ²	17,600.00	18,900.00	14,400.00	12,200.00	15,450.00	13,350.00
Nbr of stocks (in thousands)	103,625	103,625	103,625	103,625	103,625	103,625
Announcement Date	4/2/21	3/10/22	3/24/23	3/19/24	3/21/25	3/16/26

¹VND in Million²VND

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
THE SOUTHERN RUBBER INDUSTRY	-	-	-	-	46.79M
MICHELIN (CGDE)	14.07x	0.98x	5.54x	4%	25.08B
PIRELLI & C. S.P.A.	14.68x	1.24x	5.42x	4%	8.23B
THE YOKOHAMA RUBBER COMPANY, LIMITED	8.42x	1.1x	5.3x	3.44%	6.75B
SAILUN GROUP CO., LTD.	10.74x	0.95x	6.01x	2.4%	5.91B
MRF LIMITED	25.28x	1.6x	12.33x	0.18%	5.72B
HANKOOK TIRE & TECHNOLOGY CO., LTD.	5.68x	0.48x	2.9x	4.37%	5.54B
ZHONGCE RUBBER GROUP CO., LTD.	9x	-	-	2.88%	5.18B
BALKRISHNA INDUSTRIES LIMITED	30.07x	3.46x	17.77x	0.72%	4.92B
VIETNAM RUBBER INDUSTRY GROUP -	14.13x	-	-	3.41%	4.58B
Average	14.68x	1.40x	7.89x	2.82%	7B
Weighted average by Cap.	14.32x	1.23x	6.90x	3.2%