Financials Petrovietnam Chemical and Services Corporation

Equities

PVC

VN000000PVC4

Oil Related Services and Equipment

End-of-day quote HANOI S.E. 03:30:00 11/06/2024 am IST 5-day change 1st Jan Change
16,500 VND +0.61% Intraday chart for Petrovietnam Chemical and Services Corporation +1.85% +10.00%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,85,000 3,30,000 3,89,500 7,98,000 6,00,000 12,17,917
Enterprise Value (EV) 1 5,49,372 4,69,055 2,89,127 8,74,577 8,92,628 12,22,227
P/E ratio 323 x 17.4 x 1,013 x 143 x 66.5 x 59.9 x
Yield - 6.82% 5.49% 1.37% 1.5% -
Capitalization / Revenue 0.12 x 0.15 x 0.18 x 0.29 x 0.2 x 0.38 x
EV / Revenue 0.22 x 0.21 x 0.13 x 0.32 x 0.3 x 0.38 x
EV / EBITDA 12.4 x 5.68 x 5.41 x 21.1 x 12.8 x 26.1 x
EV / FCF 21.2 x 2.58 x 1.06 x -7.71 x -3.97 x 12.6 x
FCF Yield 4.73% 38.7% 94.3% -13% -25.2% 7.96%
Price to Book 0.37 x 0.42 x 0.55 x 1.16 x 0.83 x 1.29 x
Nbr of stocks (in thousands) 60,000 60,000 57,000 57,000 60,000 81,194
Reference price 2 4,750 5,500 6,833 14,000 10,000 15,000
Announcement Date 26/03/19 23/03/20 26/03/21 28/03/22 16/03/23 21/03/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 24,64,615 22,65,018 21,78,705 27,60,260 29,34,352 32,21,926
EBITDA 1 44,325 82,639 53,422 41,507 69,716 46,859
EBIT 1 12,216 53,738 27,575 17,210 47,111 25,928
Operating Margin 0.5% 2.37% 1.27% 0.62% 1.61% 0.8%
Earnings before Tax (EBT) 1 16,077 45,201 32,529 34,568 38,733 54,556
Net income 1 5,482 21,908 5,385 7,570 11,503 20,483
Net margin 0.22% 0.97% 0.25% 0.27% 0.39% 0.64%
EPS 2 14.70 316.3 6.748 97.73 150.5 250.4
Free Cash Flow 1 25,962 1,81,708 2,72,534 -1,13,378 -2,24,614 97,300
FCF margin 1.05% 8.02% 12.51% -4.11% -7.65% 3.02%
FCF Conversion (EBITDA) 58.57% 219.88% 510.15% - - 207.65%
FCF Conversion (Net income) 473.58% 829.4% 5,061.32% - - 475.02%
Dividend per Share - 375.0 375.0 191.7 150.0 -
Announcement Date 26/03/19 23/03/20 26/03/21 28/03/22 16/03/23 21/03/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 2,64,372 1,39,055 - 76,577 2,92,628 4,310
Net Cash position 1 - - 1,00,373 - - -
Leverage (Debt/EBITDA) 5.964 x 1.683 x - 1.845 x 4.197 x 0.092 x
Free Cash Flow 1 25,962 1,81,708 2,72,534 -1,13,378 -2,24,614 97,300
ROE (net income / shareholders' equity) 1.3% 4.43% 2.46% 2.97% 3.33% 3.72%
ROA (Net income/ Total Assets) 0.37% 1.8% 1% 0.62% 1.45% 0.69%
Assets 1 14,74,875 12,17,540 5,38,733 12,26,166 7,92,373 29,81,554
Book Value Per Share 2 12,788 13,035 12,476 12,102 12,089 11,599
Cash Flow per Share 2 3,696 4,572 7,679 3,558 3,804 7,999
Capex 1 10,612 568 2,540 4,464 4,331 15,038
Capex / Sales 0.43% 0.03% 0.12% 0.16% 0.15% 0.47%
Announcement Date 26/03/19 23/03/20 26/03/21 28/03/22 16/03/23 21/03/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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