Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBITDA Multiple | 55.7x - 61.6x | 58.6x |
| Selected Fwd EBITDA Multiple | 41.0x - 45.3x | 43.1x |
| Fair Value | ₫78,938 - ₫87,454 | ₫83,196 |
| Upside | 12.8% - 24.9% | 18.9% |
| Benchmarks | Ticker | Full Ticker |
| C.E.O Group Joint Stock Company | CEO | HNX:CEO |
| KOSY Joint Stock Company | KOS | HOSE:KOS |
| Century Land Joint Stock Company | CRE | HOSE:CRE |
| Khai Hoan Land Group Joint Stock Company | KHG | HOSE:KHG |
| Ba Ria - Vung Tau House Development Joint Stock Company | HDC | HOSE:HDC |
| SJ Group Joint Stock Company | SJS | HOSE:SJS |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| CEO | KOS | CRE | KHG | HDC | SJS | ||
| HNX:CEO | HOSE:KOS | HOSE:CRE | HOSE:KHG | HOSE:HDC | HOSE:SJS | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | -22.6% | 35.4% | -21.9% | NM- | -1.8% | 19.6% | |
| 3Y CAGR | 80.8% | 91.2% | -38.5% | NM- | -25.8% | 32.9% | |
| Latest Twelve Months | 4.7% | -10.7% | NM | 73.3% | NM | 59.3% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 18.5% | 9.3% | 12.5% | 5.6% | 34.0% | 29.5% | |
| Prior Fiscal Year | 22.0% | 13.4% | 8.3% | -37.6% | 38.4% | 35.0% | |
| Latest Fiscal Year | 22.4% | 13.8% | 10.0% | -13.0% | 32.8% | 58.0% | |
| Latest Twelve Months | 23.3% | 13.7% | 14.0% | -7.6% | 26.3% | 62.0% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 8.74x | 7.19x | 4.40x | 10.58x | 14.65x | 28.53x | |
| EV / LTM EBITDA | 37.5x | 52.5x | 31.4x | -138.9x | 55.8x | 46.0x | |
| EV / LTM EBIT | 59.1x | 84.6x | 31.4x | -137.2x | 63.9x | 46.8x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | -138.9x | 37.5x | 55.8x | ||||
| Historical EV / LTM EBITDA | 22.4x | 30.5x | 340.1x | ||||
| Selected EV / LTM EBITDA | 55.7x | 58.6x | 61.6x | ||||
| (x) LTM EBITDA | 462,521 | 462,521 | 462,521 | ||||
| (=) Implied Enterprise Value | 25,769,760 | 27,126,064 | 28,482,367 | ||||
| (-) Non-shareholder Claims * | (579,937) | (579,937) | (579,937) | ||||
| (=) Equity Value | 25,189,823 | 26,546,126 | 27,902,430 | ||||
| (/) Shares Outstanding | 295.3 | 295.3 | 295.3 | ||||
| Implied Value Range | 85,297.22 | 89,889.90 | 94,482.59 | ||||
| FX Rate: VND/VND | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 85,297.22 | 89,889.90 | 94,482.59 | 70,000.00 | |||
| Upside / (Downside) | 21.9% | 28.4% | 35.0% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | CEO | KOS | CRE | KHG | HDC | SJS | |
| Enterprise Value | 11,753,136 | 10,084,127 | 5,338,637 | 3,952,499 | 6,865,493 | 21,252,213 | |
| (+) Cash & Short Term Investments | 1,849,935 | 39,919 | 281,932 | 184,853 | 19,114 | 176,702 | |
| (+) Investments & Other | 0 | 340,756 | 0 | 0 | 808,900 | 42,270 | |
| (-) Debt | (501,123) | (2,036,248) | (1,076,896) | (1,081,193) | (1,430,157) | (785,442) | |
| (-) Other Liabilities | (240,275) | (7,429) | (45,993) | 0 | (20,926) | (13,467) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 12,861,673 | 8,421,124 | 4,497,681 | 3,056,159 | 6,242,424 | 20,672,276 | |
| (/) Shares Outstanding | 540.4 | 216.5 | 463.7 | 449.4 | 178.4 | 295.3 | |
| Implied Stock Price | 23,800.00 | 38,900.00 | 9,700.00 | 6,800.00 | 35,000.00 | 70,000.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 23,800.00 | 38,900.00 | 9,700.00 | 6,800.00 | 35,000.00 | 70,000.00 | |
| Trading Currency | VND | VND | VND | VND | VND | VND | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |