Financials PetroVietnam Power Corporation -

Equities

POW

VN000000POW7

Independent Power Producers

End-of-day quote Ho Chi Minh S.E. 18:00:00 2024-07-04 EDT 5-day change 1st Jan Change
14,600 VND -1.02% Intraday chart for PetroVietnam Power Corporation - -2.01% +29.78%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 26,814,430 31,849,454 40,982,753 24,940,933 26,346,056 34,191,325 - -
Enterprise Value (EV) 1 38,624,853 37,189,673 40,685,658 24,057,188 28,194,367 38,200,325 50,804,325 47,073,325
P/E ratio 10.8 x 14.5 x 23 x 13.2 x 24.5 x 30.4 x 16.3 x 13.2 x
Yield 2.62% 1.47% 1.14% - - - - 2.05%
Capitalization / Revenue 0.76 x 1.07 x 1.67 x 0.88 x 0.94 x 1.16 x 0.93 x 0.74 x
EV / Revenue 1.09 x 1.25 x 1.66 x 0.85 x 1.01 x 1.3 x 1.39 x 1.01 x
EV / EBITDA 5.48 x 6.57 x 7.79 x 4.41 x 6.69 x 8.85 x 7.82 x 5.91 x
EV / FCF 9.16 x 4.79 x 7.95 x 39 x -9.52 x -8 x -4.47 x 11.7 x
FCF Yield 10.9% 20.9% 12.6% 2.56% -10.5% -12.5% -22.4% 8.57%
Price to Book 1 x 1.02 x 1.28 x 0.75 x 0.77 x 1.06 x 1.02 x -
Nbr of stocks (in thousands) 2,341,872 2,341,872 2,341,872 2,341,872 2,341,872 2,341,872 - -
Reference price 2 11,450 13,600 17,500 10,650 11,250 14,600 14,600 14,600
Announcement Date 20-01-31 21-01-29 22-01-28 23-01-30 24-01-31 - - -
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 35,420,711 29,709,479 24,565,413 28,235,033 27,944,691 29,358,167 36,601,167 46,384,000
EBITDA 1 7,048,193 5,662,822 5,222,317 5,451,908 4,213,079 4,314,400 6,499,200 7,966,500
EBIT 1 3,916,601 2,838,894 2,439,107 2,503,666 1,403,986 1,777,750 2,532,750 5,636,000
Operating Margin 11.06% 9.56% 9.93% 8.87% 5.02% 6.06% 6.92% 12.15%
Earnings before Tax (EBT) 1 3,144,526 2,859,997 2,319,268 2,564,315 1,458,825 1,573,333 2,803,000 3,642,000
Net income 1 2,490,706 2,194,736 1,778,843 1,893,726 1,075,048 1,425,667 2,211,667 2,582,333
Net margin 7.03% 7.39% 7.24% 6.71% 3.85% 4.86% 6.04% 5.57%
EPS 2 1,064 937.0 760.0 809.0 459.0 480.0 895.5 1,108
Free Cash Flow 1 4,214,707 7,760,893 5,114,754 616,126 -2,960,247 -4,776,333 -11,371,500 4,032,333
FCF margin 11.9% 26.12% 20.82% 2.18% -10.59% -16.27% -31.07% 8.69%
FCF Conversion (EBITDA) 59.8% 137.05% 97.94% 11.3% - - - 50.62%
FCF Conversion (Net income) 169.22% 353.61% 287.53% 32.54% - - - 156.15%
Dividend per Share 2 300.0 200.0 200.0 - - - - 300.0
Announcement Date 20-01-31 21-01-29 22-01-28 23-01-30 24-01-31 - - -
1VND in Million2VND
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q3 2023 S1 2023 S2 2024 Q1
Net sales 1 - - - 6,243,103
EBITDA - - - -
EBIT - - - -
Operating Margin - - - -
Earnings before Tax (EBT) - - - -
Net income 66,854 660,286 332,454 -
Net margin - - - -
EPS 29.00 282.0 - -
Dividend per Share - - - -
Announcement Date 22-10-28 23-07-27 24-01-31 -
1VND in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,810,423 5,340,219 - - 1,848,311 4,009,000 16,613,000 12,882,000
Net Cash position 1 - - 297,095 883,744 - - - -
Leverage (Debt/EBITDA) 1.676 x 0.943 x - - 0.4387 x 0.9292 x 2.556 x 1.617 x
Free Cash Flow 1 4,214,707 7,760,893 5,114,754 616,126 -2,960,247 -4,776,333 -11,371,500 4,032,333
ROE (net income / shareholders' equity) 9.69% 7.24% 6.11% 5.9% 3.19% 4.71% 5.78% 7.9%
ROA (Net income/ Total Assets) 4.38% 4.01% 3.32% 3.46% 1.69% 2.72% 2.27% 2.3%
Assets 1 56,903,112 54,768,457 53,500,160 54,811,187 63,593,488 52,478,463 97,573,386 112,275,362
Book Value Per Share 2 11,481 13,280 13,721 14,137 14,589 13,788 14,362 -
Cash Flow per Share - 3,377 2,301 - - - - -
Capex 1 137,018 147,375 274,264 2,562,182 6,179,403 9,557,500 12,865,500 468,000
Capex / Sales 0.39% 0.5% 1.12% 9.07% 22.11% 32.55% 35.15% 1.01%
Announcement Date 20-01-31 21-01-29 22-01-28 23-01-30 24-01-31 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
14,600 VND
Average target price
14,794 VND
Spread / Average Target
+1.33%
Consensus

Annual profits - Rate of surprise

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