Financials Ha Do Group

Equities

End-of-day quote Ho Chi Minh S.E. Other stock markets 03:30:00 13/05/2024 am IST			5-day change	1st Jan Change
27,050 ^VND	+0.74%		+0.19%	-1.99%

02/05	Ha Do Group Joint Stock Company Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
31/01	Ha Do Group Joint Stock Company Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	35,59,460	60,32,153	1,30,57,768	76,80,625	84,38,889	82,70,723	-	-
Enterprise Value (EV) ¹	35,59,460	60,32,153	1,30,57,768	76,80,625	84,38,889	82,70,723	82,70,723	82,70,723
P/E ratio	4.23 x	6.8 x	12.2 x	6.97 x	-	9.33 x	6.44 x	4.47 x
Yield	-	2.56%	1.5%	-	-	1.85%	1.85%	1.85%
Capitalization / Revenue	0.82 x	1.21 x	3.4 x	2.14 x	2.93 x	2.55 x	1.71 x	1.15 x
EV / Revenue	0.82 x	1.21 x	3.4 x	2.14 x	2.93 x	2.55 x	1.71 x	1.15 x
EV / EBITDA	2.12 x	2.79 x	5.74 x	2.98 x	4.14 x	3.87 x	2.75 x	2.1 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	1.52 x	1.45 x	-	1.45 x	-	1.03 x	-	-
Nbr of stocks (in thousands)	2,77,638	2,77,695	2,94,536	3,05,757	3,05,757	3,05,757	-	-
Reference price ²	12,821	21,722	44,333	25,120	27,600	27,050	27,050	27,050
Announcement Date	22/01/20	01/02/21	28/01/22	03/04/23	31/01/24	-	-	-

¹VND in Million²VND

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	43,26,755	49,97,813	38,41,621	35,81,191	28,81,626	32,43,500	48,29,000	71,84,000
EBITDA ¹	16,80,753	21,65,051	22,76,659	25,77,052	20,37,220	21,35,000	30,05,000	39,30,000
EBIT ¹	15,05,432	15,97,380	19,78,788	20,48,619	15,36,507	15,96,000	23,01,000	30,64,000
Operating Margin	34.79%	31.96%	51.51%	57.2%	53.32%	49.21%	47.65%	42.65%
Earnings before Tax (EBT) ¹	12,94,155	15,90,809	15,93,227	16,04,421	10,06,963	12,90,000	17,94,000	24,95,000
Net income ¹	8,42,272	9,68,253	10,90,016	10,95,618	7,11,503	8,98,500	13,23,000	19,07,000
Net margin	19.47%	19.37%	28.37%	30.59%	24.69%	27.7%	27.4%	26.55%
EPS ²	3,034	3,196	3,631	3,606	-	2,898	4,202	6,058
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	555.6	666.7	-	-	500.0	500.0	500.0
Announcement Date	22/01/20	01/02/21	28/01/22	03/04/23	31/01/24	-	-	-

¹VND in Million²VND

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	40.4%	26%	29.7%	22.7%	12.6%	12.8%	18.1%	21.8%
ROA (Net income/ Total Assets)	6.88%	12.7%	7.3%	7.07%	4.79%	6.1%	7.2%	7.1%
Assets ¹	1,22,41,612	76,30,469	1,49,26,641	1,54,98,254	1,48,55,786	1,47,29,508	1,83,75,000	2,68,59,155
Book Value Per Share ²	8,419	14,997	-	17,345	-	26,362	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	21,91,192	19,48,867	22,05,474	4,28,569	89,827	9,79,000	48,14,000	68,91,000
Capex / Sales	50.64%	38.99%	57.41%	11.97%	3.12%	30.18%	99.69%	95.92%
Announcement Date	22/01/20	01/02/21	28/01/22	03/04/23	31/01/24	-	-	-

¹VND in Million²VND

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

27,050 VND

Average target price

32,300 VND

Spread / Average Target

+19.41%

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