Financials Petrovietnam Drilling and Well Services Corporation

Equities

PVD

VN000000PVD2

Oil & Gas Drilling

End-of-day quote Ho Chi Minh S.E. 18:00:00 2024-06-27 EDT 5-day change 1st Jan Change
28,800 VND -3.19% Intraday chart for Petrovietnam Drilling and Well Services Corporation -8.43% +1.77%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,338,003 6,822,303 12,486,498 9,922,458 15,731,404 16,009,344 - -
Enterprise Value (EV) 1 7,169,512 8,429,196 14,169,204 11,371,519 15,538,167 14,461,094 12,303,694 11,355,344
P/E ratio 46.3 x 58.3 x 801 x -73.8 x 35.2 x 18.7 x 11.2 x 7.63 x
Yield - - - - - 2.43% 2.08% 2.08%
Capitalization / Revenue 1.45 x 1.3 x 3.13 x 1.83 x 2.71 x 2.21 x 1.82 x 1.54 x
EV / Revenue 1.64 x 1.61 x 3.55 x 2.09 x 2.67 x 1.99 x 1.4 x 1.09 x
EV / EBITDA 11.5 x 17.3 x 28 x 13.4 x 9.63 x 6.71 x 4.61 x 3.1 x
EV / FCF -59 x -35.1 x -14.5 x -35 x 10.9 x 11.5 x 6.36 x 4.62 x
FCF Yield -1.69% -2.85% -6.9% -2.85% 9.18% 8.7% 15.7% 21.6%
Price to Book 0.46 x 0.49 x 0.9 x 0.71 x 1.06 x 1.19 x 1.09 x -
Nbr of stocks (in thousands) 555,891 555,891 555,891 555,880 555,880 555,880 - -
Reference price 2 11,402 12,273 22,462 17,850 28,300 28,800 28,800 28,800
Announcement Date 20-01-22 21-01-29 22-01-27 23-01-30 24-01-29 - - -
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,377,717 5,227,841 3,988,143 5,431,548 5,811,685 7,258,246 8,806,134 10,378,995
EBITDA 1 625,914 486,632 506,768 850,429 1,613,090 2,156,501 2,666,998 3,666,598
EBIT 1 35,284 -3,168 -27,640 68,043 756,346 1,345,458 1,843,164 2,578,433
Operating Margin 0.81% -0.06% -0.69% 1.25% 13.01% 18.54% 20.93% 24.84%
Earnings before Tax (EBT) 1 195,464 199,906 62,154 -134,542 655,896 1,081,317 1,758,960 2,747,486
Net income 1 189,567 184,268 19,243 -98,549 579,356 903,031 1,429,858 2,245,961
Net margin 4.33% 3.52% 0.48% -1.81% 9.97% 12.44% 16.24% 21.64%
EPS 2 246.3 210.6 28.03 -242.0 803.0 1,538 2,577 3,774
Free Cash Flow 1 -121,481 -239,873 -977,770 -324,550 1,427,107 1,257,590 1,934,498 2,458,062
FCF margin -2.77% -4.59% -24.52% -5.98% 24.56% 17.33% 21.97% 23.68%
FCF Conversion (EBITDA) - - - - 88.47% 58.32% 72.53% 67.04%
FCF Conversion (Net income) - - - - 246.33% 139.26% 135.29% 109.44%
Dividend per Share 2 - - - - - 700.0 600.0 600.0
Announcement Date 20-01-22 21-01-29 22-01-27 23-01-30 24-01-29 - - -
1VND in Million2VND
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 S1
Net sales - -
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income 1 49,575 -119,415
Net margin - -
EPS - -233.4
Dividend per Share - -
Announcement Date 22-01-27 22-07-29
1VND in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 831,508 1,606,893 1,682,706 1,449,061 - - - -
Net Cash position 1 - - - - 193,237 1,548,250 3,705,650 4,654,000
Leverage (Debt/EBITDA) 1.328 x 3.302 x 3.32 x 1.704 x - - - -
Free Cash Flow 1 -121,481 -239,873 -977,770 -324,550 1,427,107 1,257,590 1,934,498 2,458,062
ROE (net income / shareholders' equity) 1.38% 1.34% 0.14% -0.71% 4% 5.95% 9.42% 12.9%
ROA (Net income/ Total Assets) 0.9% 0.88% 0.09% -0.48% 2.74% 4.03% 6.28% 8.9%
Assets 1 21,018,649 20,938,620 20,691,407 20,721,009 21,176,842 22,389,208 22,756,375 25,235,515
Book Value Per Share 2 24,909 24,946 24,881 25,315 26,794 24,135 26,424 -
Cash Flow per Share - - - - - - - -
Capex 1 41,005 553,379 604,776 136,419 146,263 2,097,342 451,506 238,275
Capex / Sales 0.94% 10.59% 15.16% 2.51% 2.52% 28.9% 5.13% 2.3%
Announcement Date 20-01-22 21-01-29 22-01-27 23-01-30 24-01-29 - - -
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
28,800 VND
Average target price
35,832 VND
Spread / Average Target
+24.42%
Consensus

Annual profits - Rate of surprise

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