Financials Tien Phong Plastic

Equities

NTP

VN000000NTP5

Construction Supplies & Fixtures

End-of-day quote HANOI S.E. 06:00:00 2024-05-02 pm EDT 5-day change 1st Jan Change
41,700 VND +0.97% Intraday chart for Tien Phong Plastic +4.25% +5.57%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,614,236 3,170,696 4,240,667 7,067,778 4,146,411 5,118,226
Enterprise Value (EV) 1 5,649,970 4,354,907 4,971,365 7,833,540 5,244,936 5,385,642
P/E ratio 10.9 x 7.75 x 10.6 x 16.7 x 9.55 x 10.2 x
Yield 2.47% 6.19% 6.94% 4.17% 6.25% -
Capitalization / Revenue 0.8 x 0.67 x 0.95 x 1.47 x 0.73 x 0.99 x
EV / Revenue 1.25 x 0.91 x 1.11 x 1.62 x 0.92 x 1.04 x
EV / EBITDA 9.68 x 6.2 x 6.73 x 10.9 x 6.81 x 6.06 x
EV / FCF -17.5 x 5.68 x 6.09 x 40.2 x -20.6 x 5.47 x
FCF Yield -5.71% 17.6% 16.4% 2.49% -4.86% 18.3%
Price to Book 1.6 x 1.21 x 1.64 x 2.61 x 1.46 x 1.64 x
Nbr of stocks (in thousands) 129,577 129,576 129,576 129,576 129,575 129,575
Reference price 2 27,893 24,470 32,727 54,545 32,000 39,500
Announcement Date 3/20/19 3/27/20 4/2/21 3/29/22 4/6/23 3/25/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 4,519,645 4,759,862 4,486,111 4,823,525 5,685,112 5,175,863
EBITDA 1 583,762 702,705 738,175 716,150 770,732 889,060
EBIT 1 449,852 552,880 590,379 566,298 615,832 733,755
Operating Margin 9.95% 11.62% 13.16% 11.74% 10.83% 14.18%
Earnings before Tax (EBT) 1 379,845 471,186 523,419 551,035 564,480 659,282
Net income 1 331,517 409,026 447,189 467,760 479,540 559,415
Net margin 7.34% 8.59% 9.97% 9.7% 8.44% 10.81%
EPS 2 2,558 3,157 3,079 3,269 3,349 3,891
Free Cash Flow 1 -322,489 766,500 816,153 195,093 -254,643 985,050
FCF margin -7.14% 16.1% 18.19% 4.04% -4.48% 19.03%
FCF Conversion (EBITDA) - 109.08% 110.56% 27.24% - 110.8%
FCF Conversion (Net income) - 187.4% 182.51% 41.71% - 176.09%
Dividend per Share 2 688.7 1,515 2,273 2,273 2,000 -
Announcement Date 3/20/19 3/27/20 4/2/21 3/29/22 4/6/23 3/25/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 2,035,735 1,184,211 730,698 765,762 1,098,525 267,416
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 3.487 x 1.685 x 0.9899 x 1.069 x 1.425 x 0.3008 x
Free Cash Flow 1 -322,489 766,500 816,153 195,093 -254,643 985,050
ROE (net income / shareholders' equity) 15.3% 17% 17.3% 17.7% 17.3% 18.8%
ROA (Net income/ Total Assets) 6.15% 7.33% 8.74% 8.05% 7.73% 8.72%
Assets 1 5,387,455 5,580,316 5,119,098 5,810,823 6,205,867 6,414,865
Book Value Per Share 2 17,384 20,226 19,983 20,899 21,847 24,044
Cash Flow per Share 2 641.0 2,340 1,637 1,100 1,296 3,745
Capex 1 294,650 169,760 118,033 92,182 107,308 87,093
Capex / Sales 6.52% 3.57% 2.63% 1.91% 1.89% 1.68%
Announcement Date 3/20/19 3/27/20 4/2/21 3/29/22 4/6/23 3/25/24
1VND in Million2VND
Estimates
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