Financials Vietnam Fumigation

Equities

VFG

VN000000VFG6

Agricultural Chemicals

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
62,200 VND 0.00% Intraday chart for Vietnam Fumigation -0.32% +72.78%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,232,848 1,333,211 1,508,084 1,719,858 1,459,941 1,501,654
Enterprise Value (EV) 1 1,442,415 1,200,182 1,624,393 1,142,475 1,029,396 1,670,690
P/E ratio 10.5 x 10.4 x 10.6 x 12.1 x 7.28 x 5.79 x
Yield 7.69% 6.02% 6.38% 4.66% 9.34% -
Capitalization / Revenue 0.54 x 0.64 x 0.8 x 0.83 x 0.49 x 0.46 x
EV / Revenue 0.63 x 0.58 x 0.86 x 0.55 x 0.35 x 0.51 x
EV / EBITDA 7.8 x 5.93 x 7.85 x 5.27 x 3.57 x 4.56 x
EV / FCF -12 x 4.04 x -15.7 x 1.49 x -15.4 x -3.41 x
FCF Yield -8.31% 24.8% -6.37% 67.2% -6.49% -29.3%
Price to Book 1.4 x 1.47 x 1.56 x 1.71 x 1.28 x 1.21 x
Nbr of stocks (in thousands) 41,095 41,713 41,713 41,713 41,713 41,713
Reference price 2 30,000 31,962 36,154 41,231 35,000 36,000
Announcement Date 3/13/19 3/31/20 3/26/21 3/22/22 3/17/23 3/27/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,288,965 2,069,553 1,883,771 2,076,363 2,976,781 3,262,420
EBITDA 1 184,973 202,235 206,825 216,924 288,036 366,053
EBIT 1 163,570 180,512 185,012 196,829 267,005 344,329
Operating Margin 7.15% 8.72% 9.82% 9.48% 8.97% 10.55%
Earnings before Tax (EBT) 1 165,699 178,386 208,360 205,287 287,681 375,733
Net income 1 130,748 142,214 163,371 164,594 229,164 295,577
Net margin 5.71% 6.87% 8.67% 7.93% 7.7% 9.06%
EPS 2 2,860 3,066 3,413 3,402 4,805 6,217
Free Cash Flow 1 -119,852 297,408 -103,414 767,944 -66,769 -489,996
FCF margin -5.24% 14.37% -5.49% 36.99% -2.24% -15.02%
FCF Conversion (EBITDA) - 147.06% - 354.02% - -
FCF Conversion (Net income) - 209.13% - 466.57% - -
Dividend per Share 2 2,308 1,923 2,308 1,923 3,269 -
Announcement Date 3/13/19 3/31/20 3/26/21 3/22/22 3/17/23 3/27/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 209,567 - 116,309 - - 169,036
Net Cash position 1 - 133,028 - 577,383 430,545 -
Leverage (Debt/EBITDA) 1.133 x - 0.5624 x - - 0.4618 x
Free Cash Flow 1 -119,852 297,408 -103,414 767,944 -66,769 -489,996
ROE (net income / shareholders' equity) 15.3% 15.9% 17.4% 16.7% 21.2% 24.8%
ROA (Net income/ Total Assets) 5.3% 5.22% 5.61% 6.6% 7.17% 7.55%
Assets 1 2,467,643 2,726,072 2,912,494 2,494,939 3,197,090 3,915,815
Book Value Per Share 2 21,393 21,789 23,201 24,131 27,313 29,862
Cash Flow per Share 2 5,237 10,205 7,907 16,597 4,997 3,114
Capex 1 14,837 13,984 4,316 9,175 16,866 15,994
Capex / Sales 0.65% 0.68% 0.23% 0.44% 0.57% 0.49%
Announcement Date 3/13/19 3/31/20 3/26/21 3/22/22 3/17/23 3/27/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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