Financials Vietnam Airlines

Equities

HVN

VN000000HVN8

Airlines

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
17,250 VND -0.29% Intraday chart for Vietnam Airlines +9.87% +40.82%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 47,867,316 40,137,631 51,263,225 30,780,079 27,126,329 38,198,300 - -
Enterprise Value (EV) 1 47,867,316 40,137,631 51,263,225 30,780,079 27,126,329 38,198,300 38,198,300 38,198,300
P/E ratio 20.6 x -3.7 x -2.91 x -2.94 x -4.67 x -28.8 x 113 x 42.9 x
Yield 2.96% - - - - - - -
Capitalization / Revenue 0.49 x 0.99 x 1.84 x 0.44 x 0.3 x 0.33 x - -
EV / Revenue 0.49 x 0.99 x 1.84 x 0.44 x 0.3 x 0.33 x - -
EV / EBITDA 5.46 x -5.08 x -4.52 x -7.9 x 7.84 x 6.35 x 4.87 x 4.48 x
EV / FCF 6,341,307 x -5,801,841 x - - - - - -
FCF Yield 0% -0% - - - - - -
Price to Book - - - - - - - -
Nbr of stocks (in thousands) 1,418,291 1,418,291 2,214,394 2,214,394 2,214,394 2,214,394 - -
Reference price 2 33,750 28,300 23,150 13,900 12,250 17,250 17,250 17,250
Announcement Date 1/21/20 1/29/21 4/4/22 1/19/23 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 98,177,551 40,612,899 27,911,340 70,578,565 91,458,545 114,830,000 - -
EBITDA 1 8,772,288 -7,897,762 -11,334,190 -3,898,493 3,460,806 6,011,000 7,850,000 8,534,000
EBIT 1 3,626,988 -10,858,911 -13,382,865 -7,433,693 -2,524,686 929,000 2,558,000 3,043,000
Operating Margin 3.69% -26.74% -47.95% -10.53% -2.76% 0.81% - -
Earnings before Tax (EBT) 1 3,369,746 -10,881,430 -13,023,785 -10,091,298 -5,249,029 -1,363,000 335,000 884,000
Net income 1 2,325,398 -10,844,628 -12,965,679 -10,452,635 -5,807,112 -1,325,000 336,000 891,000
Net margin 2.37% -26.7% -46.45% -14.81% -6.35% -1.15% - -
EPS 2 1,640 -7,646 -7,955 -4,720 -2,622 -598.0 152.0 402.0
Free Cash Flow 7,548,494 -6,918,085 - - - - - -
FCF margin 7.69% -17.03% - - - - - -
FCF Conversion (EBITDA) 86.05% - - - - - - -
FCF Conversion (Net income) 324.61% - - - - - - -
Dividend per Share 1,000 - - - - - - -
Announcement Date 1/21/20 1/29/21 4/4/22 1/19/23 1/31/24 - - -
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 7,548,494 -6,918,085 - - - - - -
ROE (net income / shareholders' equity) 12.8% -88.4% -330% - - - - -
ROA (Net income/ Total Assets) 2.93% -15.6% -20.6% - -9.82% - 0.5% 1.4%
Assets 1 79,375,947 69,695,555 62,854,453 - 59,126,407 - 67,200,000 63,642,857
Book Value Per Share - - - - - - - -
Cash Flow per Share - - - - - - - -
Capex 1 1,154,083 538,595 - 956,987 - 497,000 1,351,000 1,381,000
Capex / Sales 1.18% 1.33% - 1.36% - 0.43% - -
Announcement Date 1/21/20 1/29/21 4/4/22 1/19/23 1/31/24 - - -
1VND in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
17,250 VND
Average target price
14,700 VND
Spread / Average Target
-14.78%
Consensus

Annual profits - Rate of surprise

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  2. Equities
  3. HVN Stock
  4. Financials Vietnam Airlines