PHU NHUAN JEWELRY |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 97,600 VND | -0.41% |
|
+2.74% | +13.49% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,93,66,183 | 1,84,14,329 | 2,18,72,663 | 2,94,78,308 | 3,26,53,019 | - | - |
| Enterprise Value (EV) 1 | 2,18,85,561 | 1,98,31,369 | 2,42,36,923 | 3,10,81,806 | 3,24,36,829 | 3,17,64,359 | 3,04,21,663 |
| P/E ratio | 16.3 x | 17.2 x | 23.1 x | 17.2 x | 14.9 x | 13.2 x | 10.9 x |
| Yield | 2.09% | 2.47% | 1.25% | - | 2.17% | 2.34% | 2.99% |
| Capitalization / Revenue | 1.14 x | 1.05 x | 1.12 x | 0.87 x | 0.85 x | 0.78 x | 0.69 x |
| EV / Revenue | 1.29 x | 1.13 x | 1.24 x | 0.92 x | 0.85 x | 0.76 x | 0.64 x |
| EV / EBITDA | 14 x | 12.6 x | 16.4 x | 12.4 x | 11.2 x | 9.29 x | 7.59 x |
| EV / FCF | -24.7 x | 14 x | -31.1 x | 645 x | 20.2 x | 17.3 x | 12.6 x |
| FCF Yield | -4.04% | 7.12% | -3.22% | 0.16% | 4.95% | 5.78% | 7.93% |
| Price to Book | 4.23 x | 3.51 x | 3.64 x | 2.62 x | 2.91 x | 2.6 x | 2.29 x |
| Nbr of stocks (in thousands) | 3,00,251 | 3,03,117 | 3,03,155 | 3,27,901 | 3,34,560 | - | - |
| Reference price 2 | 64,500 | 60,750 | 72,150 | 89,900 | 97,600 | 97,600 | 97,600 |
| Announcement Date | 17/01/20 | 20/01/21 | 20/01/22 | 29/03/23 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,70,00,681 | 1,75,11,018 | 1,96,13,052 | 3,38,76,455 | 3,82,82,994 | 4,18,56,766 | 4,76,67,802 |
| EBITDA 1 | 15,58,338 | 15,78,417 | 14,81,828 | 25,04,417 | 29,05,052 | 34,20,496 | 40,08,726 |
| EBIT 1 | 15,02,178 | 15,08,272 | 14,06,844 | 24,24,901 | 28,07,488 | 32,79,857 | 39,41,193 |
| Operating Margin | 8.84% | 8.61% | 7.17% | 7.16% | 7.33% | 7.84% | 8.27% |
| Earnings before Tax (EBT) 1 | 15,02,674 | 13,45,980 | 12,87,350 | 23,12,328 | 27,82,700 | 32,06,440 | 39,79,900 |
| Net income 1 | 11,90,694 | 10,69,310 | 10,32,918 | 18,10,692 | 22,35,500 | 25,60,900 | 31,37,000 |
| Net margin | 7% | 6.11% | 5.27% | 5.34% | 5.84% | 6.12% | 6.58% |
| EPS 2 | 3,964 | 3,524 | 3,121 | 5,223 | 6,567 | 7,371 | 8,955 |
| Free Cash Flow 1 | -8,84,804 | 14,12,227 | -7,80,560 | 48,197 | 16,05,500 | 18,35,750 | 24,13,333 |
| FCF margin | -5.2% | 8.06% | -3.98% | 0.14% | 4.19% | 4.39% | 5.06% |
| FCF Conversion (EBITDA) | - | 89.47% | - | 1.92% | 55.27% | 53.67% | 60.2% |
| FCF Conversion (Net income) | - | 132.07% | - | 2.66% | 71.82% | 71.68% | 76.93% |
| Dividend per Share 2 | 1,350 | 1,500 | 900.0 | - | 2,116 | 2,286 | 2,917 |
| Announcement Date | 17/01/20 | 20/01/21 | 20/01/22 | 29/03/23 | - | - | - |
1VND in Million2VND
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q4 | 2022 Q2 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 70,98,905 | - | 97,95,686 | 66,63,315 | 69,17,546 | 75,42,315 | 78,30,085 | 95,42,035 | - | - |
| EBITDA 1 | - | - | - | - | 4,55,394 | 3,44,898 | 4,86,384 | 3,49,596 | 10,19,632 | - | - |
| EBIT 1 | - | - | - | 9,65,413 | 4,37,484 | 3,25,274 | 4,68,474 | 3,31,686 | 9,94,670 | - | - |
| Operating Margin | - | - | - | 9.86% | 6.57% | 4.7% | 6.21% | 4.24% | 10.42% | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income | 7,36,288 | 4,57,177 | 3,67,034 | - | - | 2,53,335 | - | - | - | - | - |
| Net margin | - | 6.44% | - | - | - | 3.66% | - | - | - | - | - |
| EPS 2 | 2,426 | - | 633.8 | 2,215 | 965.0 | 724.0 | 1,088 | 813.0 | 2,472 | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | 2,368 | - | - |
| Announcement Date | 23/07/21 | 20/01/22 | 22/07/22 | 26/04/23 | 28/07/23 | 20/10/23 | - | - | - | - | - |
1VND in Million2VND
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 25,19,378 | 14,17,040 | 23,64,260 | 16,03,498 | - | - | - |
| Net Cash position 1 | - | - | - | - | 2,16,190 | 8,88,660 | 22,31,356 |
| Leverage (Debt/EBITDA) | 1.617 x | 0.8978 x | 1.596 x | 0.6403 x | - | - | - |
| Free Cash Flow 1 | -8,84,804 | 14,12,227 | -7,80,560 | 48,197 | 16,05,500 | 18,35,750 | 24,13,333 |
| ROE (net income / shareholders' equity) | 28.6% | 21.8% | 18.3% | 25% | 20.8% | 20.9% | 21.8% |
| ROA (Net income/ Total Assets) | 15.8% | 12.5% | 10.9% | 15.1% | 14.5% | 15.5% | 17.2% |
| Assets 1 | 75,21,759 | 85,42,863 | 95,14,890 | 1,19,78,089 | 1,54,70,588 | 1,65,75,405 | 1,82,91,545 |
| Book Value Per Share 2 | 15,237 | 17,285 | 19,834 | 34,325 | 33,535 | 37,584 | 42,575 |
| Cash Flow per Share 2 | - | 4,931 | -2,167 | 310.0 | 5,898 | 4,973 | 5,819 |
| Capex 1 | 2,08,155 | 84,157 | 63,365 | 52,385 | 95,500 | 2,46,963 | 3,17,648 |
| Capex / Sales | 1.22% | 0.48% | 0.32% | 0.15% | 0.25% | 0.59% | 0.67% |
| Announcement Date | 17/01/20 | 20/01/21 | 20/01/22 | 29/03/23 | - | - | - |
1VND in Million2VND
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
97,600
VND
Average target price
1,05,523
VND
Spread / Average Target
+8.12%
EPS Revisions
- Stock Market
- Equities
- PNJ Stock
- Financials Phu Nhuan Jewelry