Company Valuation: Hoa Binh Rubber

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,540,538 1,600,951 1,661,364 1,661,364 1,238,472 894,116
Change - 3.92% 3.77% 0% -25.45% -27.8%
Enterprise Value (EV) 1 1,574,664 1,848,628 1,886,186 1,880,527 1,363,162 999,443
Change - 17.4% 2.03% -0.3% -27.51% -26.68%
P/E Ratio 172x 72.5x 164x 97.9x 20.2x 25.5x
PBR 2.87x 2.91x 3.03x 3.01x 2.05x 1.42x
PEG - 0x -3x 1.5x 0x -0.6x
Capitalization / Revenue 8.17x 8.66x 9.27x 9.07x 5.78x 3.66x
EV / Revenue 8.35x 10x 10.5x 10.3x 6.36x 4.09x
EV / EBITDA 233x 75.6x 112x 237x 29.2x 26x
EV / EBIT -238x 206x -2,731x -169x 51.5x 55.9x
EV / FCF -43.4x -8.33x 123x -163x 30.1x 343x
FCF Yield -2.3% -12% 0.81% -0.61% 3.33% 0.29%
Dividend per Share 2 - - 300 - - -
Rate of return - - 0.55% - - -
EPS 2 297 730.7 336 562 2,033 1,163
Distribution rate - - 89.3% - - -
Net sales 1 188,514 184,909 179,203 183,174 214,268 244,145
EBITDA 1 6,752 24,444 16,808 7,938 46,694 38,393
EBIT 1 -6,611 8,954 -690.7 -11,136 26,476 17,884
Net income 1 8,970 22,072 10,159 16,978 61,401 35,130
Net Debt 1 34,127 247,677 224,822 219,163 124,690 105,327
Reference price 2 51,000.00 53,000.00 55,000.00 55,000.00 41,000.00 29,600.00
Nbr of stocks (in thousands) 30,207 30,207 30,207 30,207 30,207 30,207
Announcement Date 2/4/21 2/23/22 3/8/23 2/29/24 3/25/25 2/13/26
1VND in Million2VND
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 49.36M
96.67x - - - 3.67B
7.64x - - 4.32% 328M
Average 52.15x 4.32% 1.35B
Weighted average by Cap. 89.35x 4.32%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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