Financials Bien Hoa Packaging Company

Equities

SVI

VN000000SVI5

Paper Packaging

End-of-day quote Ho Chi Minh S.E. 18:00:00 2024-04-16 EDT 5-day change 1st Jan Change
70,000 VND -.--% Intraday chart for Bien Hoa Packaging Company -.--% +22.81%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 641,622 846,941 1,154,919 898,271 782,779 731,449
Enterprise Value (EV) 1 856,311 890,233 1,166,943 813,967 530,737 300,773
P/E ratio 15.2 x 6.81 x 8.97 x 9.75 x 6.71 x 5.52 x
Yield - 3.03% 2.22% 2.57% 3.84% 4.56%
Capitalization / Revenue 0.36 x 0.5 x 0.68 x 0.49 x 0.42 x 0.49 x
EV / Revenue 0.48 x 0.52 x 0.69 x 0.44 x 0.28 x 0.2 x
EV / EBITDA 7.06 x 3.78 x 5.11 x 5.22 x 2.89 x 1.68 x
EV / FCF 147 x 4.97 x 33.1 x 9.14 x 3.35 x 1.83 x
FCF Yield 0.68% 20.1% 3.02% 10.9% 29.8% 54.7%
Price to Book 1.89 x 1.83 x 2.04 x 1.42 x 1.08 x 0.88 x
Nbr of stocks (in thousands) 12,832 12,832 12,832 12,832 12,832 12,832
Reference price 2 50,000 66,000 90,000 70,000 61,000 57,000
Announcement Date 19-03-28 20-03-30 21-03-30 22-03-24 23-03-23 24-03-28
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,780,171 1,703,555 1,687,380 1,837,183 1,878,065 1,505,497
EBITDA 1 121,304 235,575 228,425 156,059 183,523 179,474
EBIT 1 86,257 198,891 188,255 112,383 140,509 143,229
Operating Margin 4.85% 11.68% 11.16% 6.12% 7.48% 9.51%
Earnings before Tax (EBT) 1 77,433 180,211 183,149 115,332 148,380 166,751
Net income 1 61,207 141,248 146,295 92,119 116,593 132,421
Net margin 3.44% 8.29% 8.67% 5.01% 6.21% 8.8%
EPS 2 3,286 9,686 10,032 7,178 9,086 10,319
Free Cash Flow 1 5,825 179,270 35,285 89,047 158,343 164,477
FCF margin 0.33% 10.52% 2.09% 4.85% 8.43% 10.93%
FCF Conversion (EBITDA) 4.8% 76.1% 15.45% 57.06% 86.28% 91.64%
FCF Conversion (Net income) 9.52% 126.92% 24.12% 96.66% 135.81% 124.21%
Dividend per Share - 2,000 2,000 1,800 2,340 2,600
Announcement Date 19-03-28 20-03-30 21-03-30 22-03-24 23-03-23 24-03-28
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 214,689 43,292 12,024 - - -
Net Cash position 1 - - - 84,303 252,042 430,676
Leverage (Debt/EBITDA) 1.77 x 0.1838 x 0.0526 x - - -
Free Cash Flow 1 5,825 179,270 35,285 89,047 158,343 164,477
ROE (net income / shareholders' equity) 17.7% 35.1% 28.4% 15.3% 17.1% 17%
ROA (Net income/ Total Assets) 5.8% 13.6% 11.8% 6.25% 7.38% 7.33%
Assets 1 1,055,799 1,038,240 1,239,370 1,474,856 1,579,015 1,806,880
Book Value Per Share 2 26,473 36,159 44,191 49,395 56,681 64,660
Cash Flow per Share 2 3,205 6,543 2,557 5,057 5,652 4,128
Capex 1 60,874 67,978 64,220 8,226 39,138 15,622
Capex / Sales 3.42% 3.99% 3.81% 0.45% 2.08% 1.04%
Announcement Date 19-03-28 20-03-30 21-03-30 22-03-24 23-03-23 24-03-28
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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