Financials Ha Do Group

Equities

End-of-day quote Ho Chi Minh S.E. Other stock markets 18:00:00 2024-05-12 EDT			5-day change	1st Jan Change
27,050 ^VND	+0.74%		+0.19%	-1.99%

05-02	Ha Do Group Joint Stock Company Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
01-31	Ha Do Group Joint Stock Company Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,559,460	6,032,153	13,057,768	7,680,625	8,438,889	8,270,723	-	-
Enterprise Value (EV) ¹	3,559,460	6,032,153	13,057,768	7,680,625	8,438,889	8,270,723	8,270,723	8,270,723
P/E ratio	4.23 x	6.8 x	12.2 x	6.97 x	-	9.33 x	6.44 x	4.47 x
Yield	-	2.56%	1.5%	-	-	1.85%	1.85%	1.85%
Capitalization / Revenue	0.82 x	1.21 x	3.4 x	2.14 x	2.93 x	2.55 x	1.71 x	1.15 x
EV / Revenue	0.82 x	1.21 x	3.4 x	2.14 x	2.93 x	2.55 x	1.71 x	1.15 x
EV / EBITDA	2.12 x	2.79 x	5.74 x	2.98 x	4.14 x	3.87 x	2.75 x	2.1 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.52 x	1.45 x	-	1.45 x	-	1.03 x	-	-
Nbr of stocks (in thousands)	277,638	277,695	294,536	305,757	305,757	305,757	-	-
Reference price ²	12,821	21,722	44,333	25,120	27,600	27,050	27,050	27,050
Announcement Date	20-01-22	21-02-01	22-01-28	23-04-03	24-01-31	-	-	-

¹VND in Million²VND

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,326,755	4,997,813	3,841,621	3,581,191	2,881,626	3,243,500	4,829,000	7,184,000
EBITDA ¹	1,680,753	2,165,051	2,276,659	2,577,052	2,037,220	2,135,000	3,005,000	3,930,000
EBIT ¹	1,505,432	1,597,380	1,978,788	2,048,619	1,536,507	1,596,000	2,301,000	3,064,000
Operating Margin	34.79%	31.96%	51.51%	57.2%	53.32%	49.21%	47.65%	42.65%
Earnings before Tax (EBT) ¹	1,294,155	1,590,809	1,593,227	1,604,421	1,006,963	1,290,000	1,794,000	2,495,000
Net income ¹	842,272	968,253	1,090,016	1,095,618	711,503	898,500	1,323,000	1,907,000
Net margin	19.47%	19.37%	28.37%	30.59%	24.69%	27.7%	27.4%	26.55%
EPS ²	3,034	3,196	3,631	3,606	-	2,898	4,202	6,058
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	555.6	666.7	-	-	500.0	500.0	500.0
Announcement Date	20-01-22	21-02-01	22-01-28	23-04-03	24-01-31	-	-	-

¹VND in Million²VND

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	40.4%	26%	29.7%	22.7%	12.6%	12.8%	18.1%	21.8%
ROA (Net income/ Total Assets)	6.88%	12.7%	7.3%	7.07%	4.79%	6.1%	7.2%	7.1%
Assets ¹	12,241,612	7,630,469	14,926,641	15,498,254	14,855,786	14,729,508	18,375,000	26,859,155
Book Value Per Share ²	8,419	14,997	-	17,345	-	26,362	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	2,191,192	1,948,867	2,205,474	428,569	89,827	979,000	4,814,000	6,891,000
Capex / Sales	50.64%	38.99%	57.41%	11.97%	3.12%	30.18%	99.69%	95.92%
Announcement Date	20-01-22	21-02-01	22-01-28	23-04-03	24-01-31	-	-	-

¹VND in Million²VND

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

27,050 VND

Average target price

32,300 VND

Spread / Average Target

+19.41%

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