Company Valuation: VinaCapital Vietnam Opportunity Fund Limited

Data adjusted to current consolidation scope
Fiscal Period: June 2020 2021 2022 2023 2024 2025
Market Cap 1 717.5 1,120 944.6 872.5 952 780
Change - 56.1% -15.66% -7.63% 9.11% -18.07%
Enterprise Value (EV) 1 -160.5 -309.3 -277 -274 -193.1 -185.3
Change - -92.78% 10.46% 1.07% 29.55% 4.01%
P/E Ratio -14.7x 2.11x -7.88x -58.7x 13.4x -17.4x
PBR 0.82x 0.82x 0.8x 0.78x 0.84x 0.81x
PEG - -0x 0x 0.7x -0x 0x
Capitalization / Revenue -18.8x 1.8x -8.66x 172x 9.45x -27.3x
EV / Revenue 4.19x -0.5x 2.54x -53.9x -1.92x 6.48x
EV / EBITDA - - - - - -
EV / EBIT 3.2x -0.57x 2.42x 21.8x -2.63x 3.92x
EV / FCF 3.5x -0.87x 3.91x 25.5x -4.32x 4.22x
FCF Yield 28.6% -115% 25.6% 3.92% -23.1% 23.7%
Dividend per Share 2 0.11 0.14 0.16 0.1325 0.1425 0.145
Rate of return 2.7% 2.11% 2.77% 2.43% 2.28% 2.51%
EPS 2 -0.2774 3.153 -0.733 -0.0929 0.4671 -0.3313
Distribution rate -39.7% 4.44% -21.8% -143% 30.5% -43.8%
Net sales 1 -38.26 623.8 -109 5.08 100.8 -28.58
EBITDA - - - - - -
EBIT 1 -50.09 540.8 -114.5 -12.6 73.51 -47.24
Net income 1 -50.46 540.8 -121.4 -15.02 72.91 -47.58
Net Debt 1 -877.9 -1,429 -1,222 -1,147 -1,145 -965.3
Reference price 2 4.074 6.650 5.778 5.452 6.262 5.768
Nbr of stocks (in thousands) 176,128 168,418 163,480 160,048 152,031 135,227
Announcement Date 10/27/20 10/26/21 10/25/22 10/23/23 10/24/24 10/24/25
1USD in Million2USD
Estimates

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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