Company Valuation: Sam Holdings Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,498,677 8,823,356 2,283,565 2,492,544 2,849,707 3,039,688
Change - 253.12% -74.12% 9.15% 14.33% 6.67%
Enterprise Value (EV) 1 3,019,207 9,602,954 3,495,613 3,253,661 3,494,637 4,102,442
Change - 218.06% -63.6% -6.92% 7.41% 17.39%
P/E 37x 58.4x 835x 137x 34.1x 31.9x
PBR 0.88x 2.24x 0.58x 0.63x 0.71x 0.74x
PEG - 0.9x -8.5x 0x 0x 2.2x
Capitalization / Revenue 1.3x 4.67x 1.08x 1.13x 0.71x 0.5x
EV / Revenue 1.57x 5.08x 1.66x 1.48x 0.87x 0.67x
EV / EBITDA 41.9x 963x 68.4x 56.5x 34.3x 42.3x
EV / EBIT 204x -209x -1,165x 212x 57.4x 66.8x
EV / FCF 45x -11.1x -11.7x 6.64x -26.9x -7.16x
FCF Yield 2.22% -9.02% -8.58% 15.1% -3.72% -14%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 233.7 382.9 6.792 45.06 207.3 237
Distribution rate - - - - - -
Net sales 1 1,919,269 1,888,697 2,109,065 2,200,116 4,038,231 6,126,008
EBITDA 1 72,017 9,970 51,105 57,543 102,001 96,962
EBIT 1 14,798 -45,972 -2,999 15,339 60,927 61,370
Net income 1 93,079 154,340 2,763 18,333 84,340 96,400
Net Debt 1 520,530 779,598 1,212,047 761,117 644,929 1,062,755
Reference price 2 8,646.19 22,375.83 5,669.81 6,188.68 7,075.47 7,547.17
Nbr of stocks (in thousands) 288,992 394,325 402,759 402,759 402,759 402,759
Announcement Date 4/6/21 3/30/22 3/31/23 3/29/24 3/28/25 3/27/26
1VND in Million2VND
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 90.83M
28.44x1.87x14.39x0.76% 43.85B
56.19x7.89x42.22x - 10.55B
19.08x1x8.32x2.34% 6.71B
18.51x0.43x7.72x0.75% 6.16B
19.4x2.25x12.86x1.52% 5.6B
54.65x4.02x38.94x0.12% 5.14B
18.16x2.25x12.05x1.7% 4.91B
Average 30.63x 2.82x 19.50x 1.2% 10.38B
Weighted average by Cap. 30.88x 2.64x 18.22x 0.98%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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