Financials Saigon Thuong Tin CommercialBank

Equities

STB

VN000000STB4

Banks

End-of-day quote Ho Chi Minh S.E. Other stock markets 18:00:00 2024-05-05 EDT			5-day change	1st Jan Change
28,100 ^VND	+2.00%		-0.35%	+0.54%

04-26	Saigon Thuong Tin Commercial Joint Stock Bank Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-19	Vietnam continues support for bank engulfed in massive fraud, central bank says	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2024	2025	2026
Capitalization ¹	18,126,717	30,481,743	59,384,295	42,417,354	52,974,562	-	-
Enterprise Value (EV) ¹	18,126,717	30,481,743	59,384,295	42,417,354	52,974,562	52,974,562	52,974,562
P/E ratio	8.98 x	12.4 x	19.3 x	8.41 x	6.09 x	4.36 x	3.31 x
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	1.3 x	1.79 x	3.23 x	1.62 x	1.69 x	1.39 x	1.15 x
EV / Revenue	1.3 x	1.79 x	3.23 x	1.62 x	1.69 x	1.39 x	1.15 x
EV / EBITDA	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	0.68 x	1.05 x	1.73 x	1.1 x	1 x	0.82 x	0.63 x
Nbr of stocks (in thousands)	1,803,653	1,803,653	1,885,216	1,885,216	1,885,216	-	-
Reference price ²	10,050	16,900	31,500	22,500	28,100	28,100	28,100
Announcement Date	20-01-20	21-01-20	22-01-28	23-03-31	-	-	-

¹VND in Million²VND

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2024	2025	2026
Net sales ¹	13,984,131	17,003,366	18,395,135	26,141,290	31,337,168	37,987,701	46,196,150
EBITDA	-	-	-	-	-	-	-
EBIT ¹	5,369,635	6,255,650	7,835,746	15,220,573	16,927,442	21,427,319	28,463,600
Operating Margin	38.4%	36.79%	42.6%	58.22%	54.02%	56.41%	61.61%
Earnings before Tax (EBT) ¹	3,216,746	3,339,280	4,400,026	6,339,072	11,428,872	16,347,132	21,640,900
Net income ¹	2,454,864	2,681,981	3,411,496	5,040,695	9,664,262	13,100,965	17,356,900
Net margin	17.55%	15.77%	18.55%	19.28%	30.84%	34.49%	37.57%
EPS ²	1,119	1,368	1,630	2,674	4,611	6,439	8,500
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	20-01-20	21-01-20	22-01-28	23-03-31	-	-	-

¹VND in Million²VND

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q3	2023 Q2	2023 Q3
Net sales ¹	-	-	6,413,319
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	2,372,538	-
Net income ¹	1,211,607	1,925,126	1,634,592
Net margin	-	-	25.49%
EPS	-	-	-
Dividend per Share	-	-	-
Announcement Date	22-10-29	23-07-28	23-10-30

¹VND in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	9.56%	9.63%	10.8%	13.8%	19.6%	23.6%	22.9%
ROA (Net income/ Total Assets)	0.57%	0.57%	0.67%	0.91%	1.35%	1.63%	1.85%
Assets ¹	429,848,363	473,095,960	506,833,457	556,509,379	715,871,241	802,101,555	938,210,811
Book Value Per Share ²	14,826	16,054	18,174	20,489	28,194	34,197	44,541
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-
Announcement Date	20-01-20	21-01-20	22-01-28	23-03-31	-	-	-

¹VND in Million²VND

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Saigon Thuong Tin CommercialBank

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

28,100 VND

Average target price

38,477 VND

Spread / Average Target

+36.93%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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