Financials Hai Phat Investment

Equities

HPX

VN000000HPX9

Real Estate Development & Operations

End-of-day quote Ho Chi Minh S.E. 18:00:00 2024-05-09 EDT 5-day change 1st Jan Change
6,420 VND +7.00% Intraday chart for Hai Phat Investment +3.72% +17.58%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,199,904 5,269,903 7,538,096 10,128,814 1,399,175 1,660,760
Enterprise Value (EV) 1 7,001,303 6,679,742 9,112,203 13,856,342 4,550,417 4,094,949
P/E ratio 11.6 x 12 x 87.8 x 41.6 x -23.2 x 13 x
Yield - - - - - -
Capitalization / Revenue 2.57 x 1.54 x 5.67 x 7.15 x 1.16 x 0.99 x
EV / Revenue 3.47 x 1.95 x 6.85 x 9.78 x 3.76 x 2.44 x
EV / EBITDA 18.3 x 21.9 x 40 x 64.6 x 23.5 x 33.2 x
EV / FCF -40 x 9.54 x -6.98 x -10.3 x 5.32 x -5.58 x
FCF Yield -2.5% 10.5% -14.3% -9.68% 18.8% -17.9%
Price to Book 2.04 x 1.78 x 2.34 x 3.04 x 0.43 x 0.49 x
Nbr of stocks (in thousands) 304,169 304,169 304,169 304,169 304,169 304,169
Reference price 2 17,095 17,326 24,783 33,300 4,600 5,460
Announcement Date 19-03-13 20-03-27 21-04-01 22-04-01 23-09-06 24-03-07
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,019,624 3,431,937 1,329,628 1,417,006 1,210,372 1,680,274
EBITDA 1 382,047 305,605 227,703 214,590 193,535 123,250
EBIT 1 345,589 282,247 195,781 182,169 166,046 96,747
Operating Margin 17.11% 8.22% 14.72% 12.86% 13.72% 5.76%
Earnings before Tax (EBT) 1 598,590 632,519 144,666 405,050 -12,639 189,028
Net income 1 452,274 446,702 92,293 249,919 -60,410 127,349
Net margin 22.39% 13.02% 6.94% 17.64% -4.99% 7.58%
EPS 2 1,472 1,446 282.4 799.6 -198.6 418.7
Free Cash Flow 1 -175,020 700,168 -1,305,390 -1,340,823 855,397 -733,880
FCF margin -8.67% 20.4% -98.18% -94.62% 70.67% -43.68%
FCF Conversion (EBITDA) - 229.11% - - 441.98% -
FCF Conversion (Net income) - 156.74% - - - -
Dividend per Share - - - - - -
Announcement Date 19-03-13 20-03-27 21-04-01 22-04-01 23-09-06 24-03-07
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,801,399 1,409,840 1,574,107 3,727,528 3,151,241 2,434,189
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.715 x 4.613 x 6.913 x 17.37 x 16.28 x 19.75 x
Free Cash Flow 1 -175,020 700,168 -1,305,390 -1,340,823 855,397 -733,880
ROE (net income / shareholders' equity) 19.5% 16.3% 2.95% 8% -1.67% 3.83%
ROA (Net income/ Total Assets) 3.09% 2.45% 1.72% 1.34% 1.09% 0.68%
Assets 1 14,631,018 18,211,932 5,358,414 18,611,758 -5,543,760 18,708,583
Book Value Per Share 2 8,365 9,714 10,596 10,944 10,711 11,119
Cash Flow per Share 2 1,366 1,325 1,983 2,087 480.0 81.40
Capex 1 174,601 125,537 48,459 22,083 5,110 172
Capex / Sales 8.65% 3.66% 3.64% 1.56% 0.42% 0.01%
Announcement Date 19-03-13 20-03-27 21-04-01 22-04-01 23-09-06 24-03-07
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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