Financials Saigon Thuong Tin CommercialBank

Equities

STB

VN000000STB4

Banks

End-of-day quote Ho Chi Minh S.E. Other stock markets 03:30:00 03/05/2024 am IST			5-day change	1st Jan Change
27,550 ^VND	-0.18%		-2.30%	-1.43%

26/04	Saigon Thuong Tin Commercial Joint Stock Bank Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
19/04	Vietnam continues support for bank engulfed in massive fraud, central bank says	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2024	2025	2026
Capitalization ¹	1,81,26,717	3,04,81,743	5,93,84,295	4,24,17,354	5,19,37,693	-	-
Enterprise Value (EV) ¹	1,81,26,717	3,04,81,743	5,93,84,295	4,24,17,354	5,19,37,693	5,19,37,693	5,19,37,693
P/E ratio	8.98 x	12.4 x	19.3 x	8.41 x	5.97 x	4.28 x	3.24 x
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	1.3 x	1.79 x	3.23 x	1.62 x	1.66 x	1.37 x	1.12 x
EV / Revenue	1.3 x	1.79 x	3.23 x	1.62 x	1.66 x	1.37 x	1.12 x
EV / EBITDA	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	0.68 x	1.05 x	1.73 x	1.1 x	0.98 x	0.81 x	0.62 x
Nbr of stocks (in thousands)	18,03,653	18,03,653	18,85,216	18,85,216	18,85,216	-	-
Reference price ²	10,050	16,900	31,500	22,500	27,550	27,550	27,550
Announcement Date	20/01/20	20/01/21	28/01/22	31/03/23	-	-	-

¹VND in Million²VND

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2024	2025	2026
Net sales ¹	1,39,84,131	1,70,03,366	1,83,95,135	2,61,41,290	3,13,37,168	3,79,87,701	4,61,96,150
EBITDA	-	-	-	-	-	-	-
EBIT ¹	53,69,635	62,55,650	78,35,746	1,52,20,573	1,69,27,442	2,14,27,319	2,84,63,600
Operating Margin	38.4%	36.79%	42.6%	58.22%	54.02%	56.41%	61.61%
Earnings before Tax (EBT) ¹	32,16,746	33,39,280	44,00,026	63,39,072	1,14,28,872	1,63,47,132	2,16,40,900
Net income ¹	24,54,864	26,81,981	34,11,496	50,40,695	96,64,262	1,31,00,965	1,73,56,900
Net margin	17.55%	15.77%	18.55%	19.28%	30.84%	34.49%	37.57%
EPS ²	1,119	1,368	1,630	2,674	4,611	6,439	8,500
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	20/01/20	20/01/21	28/01/22	31/03/23	-	-	-

¹VND in Million²VND

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q3	2023 Q2	2023 Q3
Net sales ¹	-	-	64,13,319
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	23,72,538	-
Net income ¹	12,11,607	19,25,126	16,34,592
Net margin	-	-	25.49%
EPS	-	-	-
Dividend per Share	-	-	-
Announcement Date	29/10/22	28/07/23	30/10/23

¹VND in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	9.56%	9.63%	10.8%	13.8%	19.6%	23.6%	22.9%
ROA (Net income/ Total Assets)	0.57%	0.57%	0.67%	0.91%	1.35%	1.63%	1.85%
Assets ¹	42,98,48,363	47,30,95,960	50,68,33,457	55,65,09,379	71,58,71,241	80,21,01,555	93,82,10,811
Book Value Per Share ²	14,826	16,054	18,174	20,489	28,194	34,197	44,541
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-
Announcement Date	20/01/20	20/01/21	28/01/22	31/03/23	-	-	-

¹VND in Million²VND

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Saigon Thuong Tin CommercialBank

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

27,550 VND

Average target price

38,477 VND

Spread / Average Target

+39.66%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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