Company Valuation: Thong Nhat Rubber

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025
Market Cap 1 12,37,775 6,26,588 6,27,550
Change - -49.38% 0.15%
Enterprise Value (EV) 1 10,91,050 4,75,426 4,59,699
Change - -56.42% -3.31%
P/E 54.6x 21.1x 17.1x
PBR 3.72x 1.84x 1.8x
PEG - 0.7x 0.7x
Capitalization / Revenue 9.56x 4.38x 3.78x
EV / Revenue 8.42x 3.32x 2.77x
EV / EBITDA 60.1x 17.2x 17.2x
EV / EBIT 129x 26.8x 25.6x
EV / FCF - - -
FCF Yield - - -
Dividend per Share 2 - - 1,600
Rate of return - - 4.91%
EPS 2 1,178 1,545 1,903
Distribution rate - - 84.1%
Net sales 1 1,29,523 1,43,178 1,65,987
EBITDA 1 18,158 27,623 26,686
EBIT 1 8,445 17,764 17,982
Net income 1 32,839 40,410 49,245
Net Debt 1 -1,46,725 -1,51,162 -1,67,851
Reference price 2 64,300.00 32,550.00 32,600.00
Nbr of stocks (in thousands) 19,250 19,250 19,250
Announcement Date 01/04/25 01/04/25 25/03/26
1VND in Million2VND
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 2.2Cr
102.5x - - - 391.5Cr
4.76x - - 4.49% 32Cr
5.04x - - 9.12% 12Cr
Average 37.43x 6.81% 109.44Cr
Weighted average by Cap. 92.62x 5.79%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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