Financials IDICO Corporation -

Equities

End-of-day quote HANOI S.E. Other stock markets 03:30:00 03/05/2024 am IST			5-day change	1st Jan Change
59,200 ^VND	+0.34%		+5.34%	+13.63%

03/05	IDICO Corporation - JSC Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
01/02	IDICO Corporation - JSC 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	56,70,000	1,06,50,000	2,17,80,000	1,04,60,998	1,71,92,996	1,95,35,996	-	-
Enterprise Value (EV) ¹	56,70,000	1,26,85,649	2,48,17,250	1,04,60,998	1,84,44,132	2,01,49,996	1,95,35,996	1,95,35,996
P/E ratio	13.4 x	-	-	4.53 x	12.3 x	9.84 x	8.55 x	6.67 x
Yield	-	-	4.13%	12.6%	6.72%	6.76%	6.76%	6.76%
Capitalization / Revenue	-	2.33 x	5.06 x	1.27 x	2.38 x	2.19 x	1.97 x	1.68 x
EV / Revenue	-	2.78 x	5.77 x	1.27 x	2.55 x	2.26 x	1.97 x	1.68 x
EV / EBITDA	-	14.4 x	22.5 x	2.46 x	6.32 x	6.02 x	4.7 x	3.85 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	-	2.96 x	5.59 x	1.96 x	3.46 x	2.85 x	-	-
Nbr of stocks (in thousands)	3,30,000	3,30,000	3,30,000	3,30,000	3,30,000	3,30,000	-	-
Reference price ²	17,182	32,273	66,000	31,700	52,100	59,200	59,200	59,200
Announcement Date	10/02/20	01/02/21	01/04/22	31/01/23	01/02/24	-	-	-

¹VND in Million²VND

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	45,61,491	43,01,236	82,42,182	72,37,032	89,01,000	99,36,000	1,16,24,000
EBITDA ¹	-	8,80,909	11,05,259	42,59,740	29,17,205	33,45,000	41,55,000	50,69,000
EBIT ¹	-	4,64,882	7,16,669	32,01,783	20,59,890	28,70,333	32,24,000	40,70,000
Operating Margin	-	10.19%	16.66%	38.85%	28.46%	32.25%	32.45%	35.01%
Earnings before Tax (EBT) ¹	-	-	-	32,46,689	20,55,917	29,48,500	32,97,000	42,00,000
Net income ¹	4,21,713	-	-	23,10,196	13,92,964	19,95,000	23,08,000	29,57,000
Net margin	-	-	-	28.03%	19.25%	22.41%	23.23%	25.44%
EPS ²	1,278	-	-	7,001	4,221	6,017	6,924	8,871
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	2,727	4,000	3,500	4,000	4,000	4,000
Announcement Date	10/02/20	01/02/21	01/04/22	31/01/23	01/02/24	-	-	-

¹VND in Million²VND

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	20,35,649	30,37,250	-	12,51,135	6,14,000	-	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	2.311 x	2.748 x	-	0.4289 x	0.1836 x	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	-	8.55%	12.1%	50.1%	28.1%	33%	38.5%	40.6%
ROA (Net income/ Total Assets)	-	2.08%	2.96%	14.1%	8.02%	11.5%	12.9%	14.5%
Assets ¹	-	-	-	1,64,04,262	1,73,72,742	1,73,47,826	1,78,91,473	2,03,93,103
Book Value Per Share ²	-	10,905	11,817	16,142	15,067	20,808	-	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	-	-	-	13,49,353	11,08,285	17,06,000	22,06,000	29,30,000
Capex / Sales	-	-	-	16.37%	15.31%	19.17%	22.2%	25.21%
Announcement Date	10/02/20	01/02/21	01/04/22	31/01/23	01/02/24	-	-	-

¹VND in Million²VND

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

59,200 VND

Average target price

60,967 VND

Spread / Average Target

+2.98%

	1st Jan change	Capi.
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