Company Valuation: X20

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025
Market Cap 1 162,150 179,400 224,250
Change - 10.64% 25%
Enterprise Value (EV) 1 106,270 -39,134 76,080
Change - -136.83% 294.41%
P/E 10.2x 4.01x 7.3x
PBR 0.63x 0.62x 0.77x
PEG - 0x -0.2x
Capitalization / Revenue 0.16x 0.14x 0.2x
EV / Revenue 0.1x -0.03x 0.07x
EV / EBITDA 1.97x -0.44x 1.07x
EV / EBIT 4.38x -0.71x 1.93x
EV / FCF -2.25x -0.24x -1.68x
FCF Yield -44.4% -423% -59.5%
Dividend per Share 2 600 1,000 1,000
Rate of return 6.38% 9.62% 7.69%
EPS 2 923 2,592 1,781
Distribution rate 65% 38.6% 56.1%
Net sales 1 1,034,395 1,301,770 1,115,545
EBITDA 1 54,066 88,404 71,119
EBIT 1 24,270 54,793 39,433
Net income 1 20,380 45,224 34,743
Net Debt 1 -55,880 -218,534 -148,170
Reference price 2 9,400.00 10,400.00 13,000.00
Nbr of stocks (in thousands) 17,250 17,250 17,250
Announcement Date 3/25/25 3/25/25 3/20/26
1VND in Million2VND
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 7.04M
17.75x2.68x8.86x3.31% 220B
30.64x7.64x16.86x1.48% 161B
24.9x3.99x14.06x2.31% 124B
65.27x4.65x43.42x0.4% 43.34B
11.54x1.74x6x4.01% 26.2B
19.25x2.53x12.83x1.08% 21.21B
18.84x3.6x8.88x3.1% 13.72B
10.25x1.16x7.56x7.13% 13.54B
Average 24.81x 3.50x 14.81x 2.85% 69.27B
Weighted average by Cap. 25.45x 4.30x 14.34x 2.47%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA