Financials Sao Mai Group Corporation

Equities

ASM

VN000000ASM1

Food Processing

End-of-day quote Ho Chi Minh S.E. 03:30:00 10/05/2024 am IST 5-day change 1st Jan Change
11,650 VND -0.85% Intraday chart for Sao Mai Group Corporation +5.43% +12.02%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 18,85,322 17,31,826 43,74,867 59,15,130 25,91,256 34,99,878
Enterprise Value (EV) 1 49,22,645 74,23,673 1,08,28,855 1,16,29,150 1,06,12,461 1,19,34,657
P/E ratio 1.82 x 2.67 x 9.2 x 11.4 x 4.09 x 17.9 x
Yield 13.7% - - 8.53% - -
Capitalization / Revenue 0.21 x 0.12 x 0.35 x 0.52 x 0.19 x 0.29 x
EV / Revenue 0.55 x 0.52 x 0.86 x 1.02 x 0.77 x 1 x
EV / EBITDA 6.85 x 6.79 x 8.91 x 9.05 x 6.09 x 9.03 x
EV / FCF -2.85 x -2.97 x -4.34 x -38 x -7.65 x -16.4 x
FCF Yield -35.1% -33.7% -23% -2.63% -13.1% -6.09%
Price to Book 0.52 x 0.43 x 0.97 x 1.16 x 0.5 x 0.67 x
Nbr of stocks (in thousands) 3,36,530 3,36,528 3,36,528 3,36,528 3,36,527 3,36,527
Reference price 2 5,602 5,146 13,000 17,577 7,700 10,400
Announcement Date 11/04/19 09/04/20 12/04/21 28/03/22 31/03/23 01/04/24
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 88,87,128 1,42,23,773 1,25,24,614 1,13,97,926 1,37,49,222 1,19,73,154
EBITDA 1 7,18,984 10,92,879 12,15,289 12,84,419 17,41,631 13,22,355
EBIT 1 6,82,670 8,79,968 9,24,180 8,71,899 13,28,936 8,71,770
Operating Margin 7.68% 6.19% 7.38% 7.65% 9.67% 7.28%
Earnings before Tax (EBT) 1 13,15,534 8,71,739 6,24,305 7,86,296 10,61,984 3,19,141
Net income 1 10,38,544 6,36,925 4,75,464 6,00,437 6,28,390 1,95,034
Net margin 11.69% 4.48% 3.8% 5.27% 4.57% 1.63%
EPS 2 3,086 1,930 1,413 1,546 1,883 579.6
Free Cash Flow 1 -17,27,186 -25,01,886 -24,95,421 -3,05,934 -13,86,673 -7,27,354
FCF margin -19.43% -17.59% -19.92% -2.68% -10.09% -6.07%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 769.2 - - 1,500 - -
Announcement Date 11/04/19 09/04/20 12/04/21 28/03/22 31/03/23 01/04/24
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 30,37,323 56,91,847 64,53,988 57,14,020 80,21,205 84,34,779
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 4.224 x 5.208 x 5.311 x 4.449 x 4.606 x 6.379 x
Free Cash Flow 1 -17,27,186 -25,01,886 -24,95,421 -3,05,934 -13,86,673 -7,27,354
ROE (net income / shareholders' equity) 27.9% 13.7% 8.69% 9.74% 12.5% 3.21%
ROA (Net income/ Total Assets) 4.85% 3.99% 3.48% 3.05% 4.46% 2.77%
Assets 1 2,14,03,559 1,59,65,431 1,36,65,105 1,97,09,066 1,40,93,259 70,50,621
Book Value Per Share 2 10,839 11,962 13,364 15,146 15,512 15,554
Cash Flow per Share 2 1,492 2,446 2,327 1,741 2,519 4,056
Capex 1 1,29,651 29,45,067 21,57,693 6,10,486 14,83,221 2,39,078
Capex / Sales 1.46% 20.71% 17.23% 5.36% 10.79% 2%
Announcement Date 11/04/19 09/04/20 12/04/21 28/03/22 31/03/23 01/04/24
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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