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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 2.6x - 2.9x | 2.8x |
Selected Fwd Ps Multiple | 2.2x - 2.4x | 2.3x |
Fair Value | ₫6,163 - ₫6,812 | ₫6,488 |
Upside | -13.2% - -4.1% | -8.6% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Cuu Long Petro Urban Development and Investment Corporation | - | HOSE:CCL |
NO. 2 Industrial Urban Development Joint Stock Company | - | HOSE:D2D |
AAV Group Joint Stock Company | - | HNX:AAV |
First Real Joint Stock Company | - | HOSE:FIR |
Ninh Van Bay Travel Real Estate Joint Stock Company | - | HOSE:NVT |
Asia-Pacific Investment Joint Stock Company | - | HNX:API |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
CCL | D2D | AAV | FIR | NVT | API | |||
HOSE:CCL | HOSE:D2D | HNX:AAV | HOSE:FIR | HOSE:NVT | HNX:API | |||
Historical Sales Growth | ||||||||
5Y CAGR | NM- | NM- | -37.2% | NM- | NM- | -14.2% | ||
3Y CAGR | NM- | NM- | NM- | NM- | NM- | -29.0% | ||
Latest Twelve Months | NM | 77.8% | 1491.7% | -33.4% | NM | 8.5% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 15.7% | 19.3% | -87.9% | 2.7% | 7.3% | 8.9% | ||
Prior Fiscal Year | 16.4% | 11.6% | -23.2% | 11.3% | 1.5% | -28.9% | ||
Latest Fiscal Year | 12.6% | 21.2% | -40.7% | 0.5% | -2.4% | -10.6% | ||
Latest Twelve Months | 13.4% | 21.2% | -12.7% | -3.5% | -1.5% | -10.6% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 7.5x | 6.4x | -252.8x | 13.4x | 8.3x | 33.2x | ||
Price / LTM Sales | 1.4x | 3.0x | 4.8x | 6.7x | 1.7x | 2.8x | ||
LTM P/E Ratio | 10.5x | 13.9x | -37.5x | -188.3x | -118.7x | -26.8x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 1.4x | 3.0x | 6.7x | |||||
Historical LTM P/S Ratio | 0.8x | 1.9x | 4.4x | |||||
Selected Price / Sales Multiple | 2.6x | 2.8x | 2.9x | |||||
(x) LTM Sales | 209,580 | 209,580 | 209,580 | |||||
(=) Equity Value | 553,125 | 582,237 | 611,349 | |||||
(/) Shares Outstanding | 84.1 | 84.1 | 84.1 | |||||
Implied Value Range | 6,578.25 | 6,924.47 | 7,270.69 | |||||
FX Rate: VND/VND | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 6,578.25 | 6,924.47 | 7,270.69 | 7,100.00 | ||||
Upside / (Downside) | -7.3% | -2.5% | 2.4% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | CCL | D2D | AAV | FIR | NVT | API | |
Value of Common Equity | 403,366 | 1,022,779 | 462,217 | 588,487 | 724,000 | 596,996 | |
(/) Shares Outstanding | 59.6 | 30.3 | 69.0 | 64.2 | 90.5 | 84.1 | |
Implied Stock Price | 6,770.00 | 33,800.00 | 6,700.00 | 9,160.00 | 8,000.00 | 7,100.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 6,770.00 | 33,800.00 | 6,700.00 | 9,160.00 | 8,000.00 | 7,100.00 | |
Trading Currency | VND | VND | VND | VND | VND | VND | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |