VINGROUP |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 44,450 VND | +5.83% |
|
+4.34% | -0.34% |
| Apr. 26 | Vingroup Joint Stock Company Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Apr. 25 | VinFast chief planning to invest another $1 billion of his fortune in EV maker | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 368,130,831 | 349,665,624 | 352,019,241 | 199,613,606 | 165,478,938 | 165,354,715 | - | - |
| Enterprise Value (EV) 1 | 477,426,489 | 446,417,202 | 464,131,304 | 199,613,606 | 165,478,938 | 165,354,715 | 165,354,715 | 165,354,715 |
| P/E ratio | 47.5 x | 68.2 x | -117 x | 24.3 x | 80.4 x | 69.2 x | 61.2 x | 52.6 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 2.81 x | 3.17 x | 2.81 x | 1.96 x | 1.02 x | 0.85 x | 0.81 x | 0.77 x |
| EV / Revenue | 2.81 x | 3.17 x | 2.81 x | 1.96 x | 1.02 x | 0.85 x | 0.81 x | 0.77 x |
| EV / EBITDA | 18.9 x | 61.3 x | 19.7 x | 18.7 x | 11.8 x | 4.62 x | 3.58 x | 3.04 x |
| EV / FCF | -7,698,965 x | -35,702,953 x | - | - | - | - | - | - |
| FCF Yield | -0% | -0% | - | - | - | - | - | - |
| Price to Book | 4.84 x | 4.42 x | 3.25 x | - | - | - | - | - |
| Nbr of stocks (in thousands) | 3,601,280 | 3,635,617 | 3,701,569 | 3,710,290 | 3,710,290 | 3,720,016 | - | - |
| Reference price 2 | 102,222 | 96,178 | 95,100 | 53,800 | 44,600 | 44,450 | 44,450 | 44,450 |
| Announcement Date | 1/30/20 | 1/30/21 | 2/14/22 | 4/1/23 | 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 | 130,789,759 | 110,462,372 | 125,306,264 | 101,793,582 | 161,634,280 | 195,340,000 | 205,116,000 | 215,858,000 |
| EBITDA 1 | 19,462,222 | 5,701,635 | 17,857,771 | 10,653,159 | 14,001,547 | 35,794,000 | 46,238,000 | 54,397,000 |
| EBIT 1 | 10,683,821 | -4,470,248 | 2,451,017 | -10,630,914 | -3,126,135 | 16,774,000 | 25,621,000 | 32,853,000 |
| Operating Margin | 8.17% | -4.05% | 1.96% | -10.44% | -1.93% | 8.59% | 12.49% | 15.22% |
| Earnings before Tax (EBT) 1 | 15,639,052 | 13,961,960 | 3,345,736 | 12,755,518 | 13,680,996 | 11,284,000 | 11,205,000 | 11,760,000 |
| Net income 1 | 7,505,566 | 5,126,982 | -2,771,444 | 8,781,861 | 2,062,572 | 2,390,000 | 2,702,000 | 3,144,000 |
| Net margin | 5.74% | 4.64% | -2.21% | 8.63% | 1.28% | 1.22% | 1.32% | 1.46% |
| EPS 2 | 2,151 | 1,411 | -815.0 | 2,214 | 555.0 | 642.0 | 726.0 | 845.0 |
| Free Cash Flow | -47,815,638 | -9,793,748 | - | - | - | - | - | - |
| FCF margin | -36.56% | -8.87% | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 1/30/20 | 1/30/21 | 2/14/22 | 4/1/23 | 1/31/24 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 |
|---|---|---|---|---|
| Net sales 1 | 34,457,826 | 18,239,222 | 13,853,819 | 28,742,356 |
| EBITDA | - | - | - | - |
| EBIT 1 | -3,295,270 | -6,119,024 | -10,114,977 | 87,341 |
| Operating Margin | -9.56% | -33.55% | -73.01% | 0.3% |
| Earnings before Tax (EBT) | - | - | - | - |
| Net income | - | - | - | - |
| Net margin | - | - | - | - |
| EPS 2 | -1,801 | 662.0 | 860.0 | 309.0 |
| Dividend per Share 2 | - | - | - | - |
| Announcement Date | 2/14/22 | 4/29/22 | 7/29/22 | 10/30/22 |
1VND in Million2VND
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | 109,295,658 | 96,751,578 | 112,112,063 | - | - | - | - | - |
| Net Cash position | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.616 x | 16.97 x | 6.278 x | - | - | - | - | - |
| Free Cash Flow | -47,815,638 | -9,793,748 | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 11.5% | 6.6% | -3.1% | 5.95% | 1.78% | 1.9% | 2.2% | 2.5% |
| ROA (Net income/ Total Assets) | 2.15% | 1.24% | -1.77% | 1.75% | 0.33% | 0.1% | 0.1% | 0.1% |
| Assets 1 | 348,350,784 | 414,000,484 | 156,543,380 | 502,883,869 | 623,133,535 | 2,390,000,000 | 2,702,000,000 | 3,144,000,000 |
| Book Value Per Share | 21,109 | 21,783 | 29,303 | - | - | - | - | - |
| Cash Flow per Share | - | 4,850 | - | - | - | - | - | - |
| Capex 1 | 60,435,999 | 27,421,946 | 40,937,924 | 75,161,529 | 58,817,491 | 38,109,000 | 28,484,000 | 30,312,000 |
| Capex / Sales | 46.21% | 24.82% | 32.67% | 73.84% | 36.39% | 19.51% | 13.89% | 14.04% |
| Announcement Date | 1/30/20 | 1/30/21 | 2/14/22 | 4/1/23 | 1/31/24 | - | - | - |
1VND in Million
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
1
Last Close Price
44,450
VND
Average target price
49,500
VND
Spread / Average Target
+11.36%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -0.34% | 6.53B | |
| -9.36% | 22.5B | |
| +9.02% | 10.79B | |
| -34.32% | 10.32B | |
| -28.99% | 7.2B | |
| -5.56% | 7.01B | |
| -3.03% | 6.09B | |
| +12.96% | 3.57B | |
| -5.92% | 3.54B | |
| +27.36% | 3.32B |
- Stock Market
- Equities
- VIC Stock
- Financials Vingroup
