Financials Van Phu - Invest Investment

Equities

VPI

VN000000VPI1

Real Estate Development & Operations

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
59,000 VND +0.51% Intraday chart for Van Phu - Invest Investment +4.80% +7.27%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 6,776,000 6,792,000 6,669,997 12,077,988 13,019,579 13,309,979
Enterprise Value (EV) 1 8,881,692 10,387,831 8,672,032 14,663,343 16,827,616 18,175,838
P/E ratio 16.1 x 13.4 x 22.2 x 34.7 x 24.1 x 26.8 x
Yield 3.78% 2.36% - - 1.86% -
Capitalization / Revenue 26.2 x 2.22 x 3.08 x 4.63 x 6.05 x 7.14 x
EV / Revenue 34.4 x 3.4 x 4.01 x 5.62 x 7.82 x 9.75 x
EV / EBITDA 25.8 x 14.4 x 17.2 x 38.9 x 20 x 18.4 x
EV / FCF -7.68 x -5 x 5.27 x -8.1 x 15.9 x -82.7 x
FCF Yield -13% -20% 19% -12.3% 6.3% -1.21%
Price to Book 3.02 x 2.75 x 2.42 x 3.78 x 3.7 x 3.56 x
Nbr of stocks (in thousands) 242,000 242,000 242,000 242,000 242,000 242,000
Reference price 2 28,000 28,066 27,562 49,909 53,800 55,000
Announcement Date 3/8/19 4/7/20 3/31/21 3/30/22 3/30/23 3/25/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 258,265 3,057,265 2,164,999 2,610,596 2,152,086 1,864,842
EBITDA 1 343,719 723,250 504,869 376,887 839,496 986,732
EBIT 1 340,931 710,739 482,579 356,720 800,548 938,911
Operating Margin 132.01% 23.25% 22.29% 13.66% 37.2% 50.35%
Earnings before Tax (EBT) 1 550,628 650,053 387,040 392,257 635,525 618,474
Net income 1 421,646 506,343 300,922 348,132 539,690 496,225
Net margin 163.26% 16.56% 13.9% 13.34% 25.08% 26.61%
EPS 2 1,742 2,092 1,243 1,439 2,230 2,051
Free Cash Flow 1 -1,155,785 -2,077,874 1,646,639 -1,809,365 1,060,903 -219,746
FCF margin -447.52% -67.97% 76.06% -69.31% 49.3% -11.78%
FCF Conversion (EBITDA) - - 326.15% - 126.37% -
FCF Conversion (Net income) - - 547.2% - 196.58% -
Dividend per Share 2 1,058 661.2 - - 1,000 -
Announcement Date 3/8/19 4/7/20 3/31/21 3/30/22 3/30/23 3/25/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 2,105,692 3,595,831 2,002,035 2,585,355 3,808,037 4,865,859
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 6.126 x 4.972 x 3.965 x 6.86 x 4.536 x 4.931 x
Free Cash Flow 1 -1,155,785 -2,077,874 1,646,639 -1,809,365 1,060,903 -219,746
ROE (net income / shareholders' equity) 19.4% 19.8% 10.9% 10.8% 13.8% 11.7%
ROA (Net income/ Total Assets) 4.07% 5.66% 3.23% 2.28% 4.78% 4.97%
Assets 1 10,349,176 8,945,048 9,316,760 15,255,567 11,288,935 9,989,834
Book Value Per Share 2 9,285 10,224 11,397 13,190 14,524 15,445
Cash Flow per Share 2 394.0 2,688 4,258 4,639 2,018 791.0
Capex 1 551,969 612,716 304,649 89,815 739,651 63,878
Capex / Sales 213.72% 20.04% 14.07% 3.44% 34.37% 3.43%
Announcement Date 3/8/19 4/7/20 3/31/21 3/30/22 3/30/23 3/25/24
1VND in Million2VND
Estimates
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