HO CHI MINH CITY SECURITIES CORPORATION Financials Ho Chi Minh City Securities Corporation
Equities
HCM
VN000000HCM0
Investment Banking & Brokerage Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 27,050 VND | -0.92% |
|
+2.08% | -9.04% |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 6,069,613 | 6,522,770 | 9,578,314 | 20,764,905 | 9,144,239 | 15,636,649 |
| Enterprise Value (EV) 1 | 6,804,573 | 6,723,321 | 13,026,800 | 26,234,599 | 9,017,151 | 19,750,192 |
| P/E ratio | 8.99 x | 13.4 x | 18.1 x | 12.3 x | 10.7 x | 23.2 x |
| Yield | 8.89% | 5.62% | 3.82% | 1.65% | 3.75% | - |
| Capitalization / Revenue | 2.88 x | 4.86 x | 4.84 x | 5.77 x | 2.98 x | 6.63 x |
| EV / Revenue | 3.23 x | 5.01 x | 6.58 x | 7.28 x | 2.94 x | 8.37 x |
| EV / EBITDA | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - |
| Price to Book | 1.98 x | 1.52 x | 2.16 x | 2.84 x | 1.16 x | 1.88 x |
| Nbr of stocks (in thousands) | 248,312 | 351,344 | 350,798 | 524,827 | 525,794 | 525,794 |
| Reference price 2 | 24,443 | 18,565 | 27,304 | 39,565 | 17,391 | 29,739 |
| Announcement Date | 3/29/19 | 3/30/20 | 3/22/21 | 3/24/22 | 3/24/23 | 3/25/24 |
1VND in Million2VND
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 2,107,227 | 1,341,997 | 1,980,533 | 3,601,590 | 3,069,172 | 2,358,306 |
| EBITDA | - | - | - | - | - | - |
| EBIT | - | - | - | - | - | - |
| Operating Margin | - | - | - | - | - | - |
| Earnings before Tax (EBT) 1 | 842,186 | 531,406 | 660,305 | 1,430,335 | 1,067,806 | 842,231 |
| Net income 1 | 675,480 | 432,565 | 530,452 | 1,147,062 | 852,488 | 674,359 |
| Net margin | 32.06% | 32.23% | 26.78% | 31.85% | 27.78% | 28.6% |
| EPS 2 | 2,720 | 1,388 | 1,511 | 3,204 | 1,621 | 1,283 |
| Free Cash Flow | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - |
| Dividend per Share 2 | 2,174 | 1,043 | 1,043 | 652.2 | 652.2 | - |
| Announcement Date | 3/29/19 | 3/30/20 | 3/22/21 | 3/24/22 | 3/24/23 | 3/25/24 |
1VND in Million2VND
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 734,960 | 200,551 | 3,448,486 | 5,469,695 | - | 4,113,544 |
| Net Cash position 1 | - | - | - | - | 127,088 | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 23.1% | 11.7% | 12.1% | 19.5% | 11.2% | 8.32% |
| ROA (Net income/ Total Assets) | 11.3% | 6.79% | 5.31% | 6.22% | 4.28% | 4.04% |
| Assets 1 | 5,968,457 | 6,372,494 | 9,988,922 | 18,429,073 | 19,908,173 | 16,678,840 |
| Book Value Per Share 2 | 12,325 | 12,251 | 12,658 | 13,932 | 15,009 | 15,809 |
| Cash Flow per Share 2 | 473.0 | 2,580 | 590.0 | 13,691 | 10,728 | 5,372 |
| Capex 1 | 27,293 | 28,335 | 23,145 | 25,488 | 35,722 | 27,795 |
| Capex / Sales | 1.3% | 2.11% | 1.17% | 0.71% | 1.16% | 1.18% |
| Announcement Date | 3/29/19 | 3/30/20 | 3/22/21 | 3/24/22 | 3/24/23 | 3/25/24 |
1VND in Million2VND
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Sell
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
27,050
VND
Average target price
29,396
VND
Spread / Average Target
+8.67%
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -9.04% | 752M | |
| -1.22% | 150B | |
| +11.68% | 148B | |
| +8.37% | 136B | |
| -4.86% | 36.84B | |
| +10.48% | 25.54B | |
| -13.04% | 21.51B | |
| +20.34% | 20.46B | |
| +41.13% | 17.33B | |
| +9.31% | 16.37B |
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