Financials IDICO Corporation -

Equities

End-of-day quote HANOI S.E. Other stock markets 18:00:00 2024-06-27 EDT			5-day change	1st Jan Change
59,700 ^VND	-1.49%		-3.55%	+14.59%

05-03	IDICO Corporation - JSC Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
02-01	IDICO Corporation - JSC 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	5,670,000	10,650,000	21,780,000	10,460,998	17,192,996	19,700,996	-	-
Enterprise Value (EV) ¹	5,670,000	12,685,649	24,817,250	10,460,998	18,444,132	20,314,996	20,253,996	19,700,996
P/E ratio	13.4 x	-	-	4.53 x	12.3 x	9.45 x	8.68 x	6.82 x
Yield	-	-	4.13%	12.6%	6.72%	6.7%	6.7%	6.7%
Capitalization / Revenue	-	2.33 x	5.06 x	1.27 x	2.38 x	2.21 x	2.14 x	1.7 x
EV / Revenue	-	2.78 x	5.77 x	1.27 x	2.55 x	2.27 x	2.2 x	1.7 x
EV / EBITDA	-	14.4 x	22.5 x	2.46 x	6.32 x	5.74 x	5.23 x	3.9 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	2.96 x	5.59 x	1.96 x	3.46 x	2.87 x	2.81 x	-
Nbr of stocks (in thousands)	330,000	330,000	330,000	330,000	330,000	330,000	-	-
Reference price ²	17,182	32,273	66,000	31,700	52,100	59,700	59,700	59,700
Announcement Date	2/10/20	2/1/21	4/1/22	1/31/23	2/1/24	-	-	-

¹VND in Million²VND

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	4,561,491	4,301,236	8,242,182	7,237,032	8,932,250	9,219,500	11,564,000
EBITDA ¹	-	880,909	1,105,259	4,259,740	2,917,205	3,538,500	3,871,000	5,054,000
EBIT ¹	-	464,882	716,669	3,201,783	2,059,890	3,064,750	3,197,000	4,057,000
Operating Margin	-	10.19%	16.66%	38.85%	28.46%	34.31%	34.68%	35.08%
Earnings before Tax (EBT) ¹	-	-	-	3,246,689	2,055,917	3,087,000	3,277,000	4,143,000
Net income ¹	421,713	-	-	2,310,196	1,392,964	2,092,000	2,294,000	2,916,000
Net margin	-	-	-	28.03%	19.25%	23.42%	24.88%	25.22%
EPS ²	1,278	-	-	7,001	4,221	6,321	6,881	8,749
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	2,727	4,000	3,500	4,000	4,000	4,000
Announcement Date	2/10/20	2/1/21	4/1/22	1/31/23	2/1/24	-	-	-

¹VND in Million²VND

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	2,035,649	3,037,250	-	1,251,135	614,000	553,000	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	2.311 x	2.748 x	-	0.4289 x	0.1735 x	0.1429 x	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	8.55%	12.1%	50.1%	28.1%	34.1%	34%	41.1%
ROA (Net income/ Total Assets)	-	2.08%	2.96%	14.1%	8.02%	11.9%	12.6%	14.1%
Assets ¹	-	-	-	16,404,262	17,372,742	17,654,008	18,278,884	20,680,851
Book Value Per Share ²	-	10,905	11,817	16,142	15,067	20,808	21,224	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	-	-	-	1,349,353	1,108,285	1,209,500	2,100,000	2,936,000
Capex / Sales	-	-	-	16.37%	15.31%	13.54%	22.78%	25.39%
Announcement Date	2/10/20	2/1/21	4/1/22	1/31/23	2/1/24	-	-	-

¹VND in Million²VND

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

59,700 VND

Average target price

65,125 VND

Spread / Average Target

+9.09%

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