Company Valuation: SEAREFICO Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 402,372 567,618 351,383 280,430 298,337 284,485
Change - 41.07% -38.1% -20.19% 6.39% -4.64%
Enterprise Value (EV) 1 945,991 1,089,379 497,180 499,852 652,178 752,894
Change - 15.16% -54.36% 0.54% 30.47% 15.44%
P/E 10.1x 22.8x -2.44x 106x 171x 14.2x
PBR 0.87x 1.17x 1.03x 0.82x 0.87x 0.79x
PEG - -0.6x 0x -1x -5x 0x
Capitalization / Revenue 0.27x 0.61x 0.3x 0.17x 0.28x 0.24x
EV / Revenue 0.64x 1.17x 0.42x 0.3x 0.6x 0.62x
EV / EBITDA 13.3x 19.5x -2.99x 8.19x 20.5x -13.4x
EV / EBIT 16.1x 27.8x -2.71x 11.5x 50.7x -10.1x
EV / FCF 69.2x -120x 2.26x -6.25x -4.59x -4.96x
FCF Yield 1.45% -0.83% 44.2% -16% -21.8% -20.2%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 1,180 737.6 -4,269 78.62 51.68 591.3
Distribution rate - - - - - -
Net sales 1 1,486,297 930,440 1,185,608 1,643,513 1,082,727 1,207,521
EBITDA 1 71,126 55,776 -166,515 61,047 31,841 -56,267
EBIT 1 58,823 39,239 -183,331 43,522 12,866 -74,606
Net income 1 39,879 29,465 -141,294 2,987 1,746 19,977
Net Debt 1 543,620 521,761 145,798 219,422 353,840 468,409
Reference price 2 11,909.09 16,800.00 10,400.00 8,300.00 8,830.00 8,420.00
Nbr of stocks (in thousands) 33,787 33,787 33,787 33,787 33,787 33,787
Announcement Date 3/31/21 3/30/22 3/21/23 6/5/24 3/28/25 3/29/26
1VND in Million2VND
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 9.44M
53.84x2.46x23.54x0.07% 90.77B
13.06x1.11x6.06x4.48% 77.34B
27.35x2.09x20.53x1.11% 59.4B
33.14x4.16x22.59x0.2% 54.88B
55.47x4.42x28.15x1.57% 45.53B
29.56x0.73x12.05x2.1% 37.51B
24.45x0.5x7.9x2.41% 33.73B
23.35x1.59x14.7x0.2% 32.64B
4.5x0.3x5.98x6.26% 27.48B
Average 29.41x 1.93x 15.72x 2.04% 45.93B
Weighted average by Cap. 31.97x 2.11x 16.78x 1.83%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation SEAREFICO Corporation