Financials Vietnam National Petroleum Group

Equities

PLX

VN000000PLX1

Oil & Gas Refining and Marketing

End-of-day quote Ho Chi Minh S.E. 03:30:00 26/04/2024 am IST 5-day change 1st Jan Change
35,700 VND +1.71% Intraday chart for Vietnam National Petroleum Group +3.03% +3.48%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,66,85,541 6,72,57,003 6,84,84,921 4,02,77,774 4,38,35,432 4,54,87,202 - -
Enterprise Value (EV) 1 6,66,85,541 6,41,17,322 6,58,36,156 4,02,77,774 4,38,35,432 4,54,87,202 4,54,87,202 4,54,87,202
P/E ratio 18.4 x 75.4 x 26.8 x 29.8 x 16.3 x 14.2 x 13.1 x 11.1 x
Yield 5.36% 2.2% 2.23% - - 4.89% 8.38% 8.38%
Capitalization / Revenue 0.35 x 0.54 x 0.4 x 0.13 x 0.16 x 0.17 x 0.19 x 0.19 x
EV / Revenue 0.35 x 0.54 x 0.4 x 0.13 x 0.16 x 0.17 x 0.19 x 0.19 x
EV / EBITDA 9.68 x 15.9 x 13.9 x 13 x 10.2 x 7.47 x 8.2 x 7.56 x
EV / FCF 10.6 x 259 x 17.6 x 13.4 x - 29.4 x 36.7 x 14.6 x
FCF Yield 9.48% 0.39% 5.69% 7.48% - 3.4% 2.73% 6.83%
Price to Book 2.57 x 3.14 x - 1.64 x - 1.69 x - -
Nbr of stocks (in thousands) 11,90,813 12,31,813 12,70,592 12,70,592 12,70,592 12,70,592 - -
Reference price 2 56,000 54,600 53,900 31,700 34,500 35,800 35,800 35,800
Announcement Date 03/02/20 02/02/21 28/01/22 31/01/23 31/01/24 - - -
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 18,96,41,719 12,40,07,987 16,91,13,133 30,40,80,299 27,42,52,672 26,72,75,500 23,59,83,000 24,44,37,000
EBITDA 1 68,90,186 42,18,992 49,14,247 31,07,858 42,88,146 60,87,000 55,50,000 60,17,000
EBIT 1 49,29,103 11,80,656 34,98,179 - 21,83,285 36,02,000 34,46,000 39,12,000
Operating Margin 2.6% 0.95% 2.07% - 0.8% 1.35% 1.46% 1.6%
Earnings before Tax (EBT) 1 57,71,829 13,98,029 37,81,368 22,60,382 39,31,898 47,15,500 53,16,000 61,51,000
Net income 1 42,52,801 9,70,386 28,30,025 14,80,283 28,11,980 34,40,500 38,23,000 44,91,000
Net margin 2.24% 0.78% 1.67% 0.49% 1.03% 1.29% 1.62% 1.84%
EPS 2 3,051 724.0 2,011 1,064 2,111 2,517 2,733 3,211
Free Cash Flow 1 63,19,380 2,59,955 38,96,409 30,11,120 - 15,46,000 12,40,000 31,07,000
FCF margin 3.33% 0.21% 2.3% 0.99% - 0.58% 0.53% 1.27%
FCF Conversion (EBITDA) 91.72% 6.16% 79.29% 96.89% - 25.4% 22.34% 51.64%
FCF Conversion (Net income) 148.59% 26.79% 137.68% 203.42% - 44.94% 32.44% 69.18%
Dividend per Share 2 3,000 1,200 1,200 - - 1,750 3,000 3,000
Announcement Date 03/02/20 02/02/21 28/01/22 31/01/23 31/01/24 - - -
1VND in Million2VND
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - 31,39,680 26,48,765 - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 63,19,380 2,59,955 38,96,409 30,11,120 - 15,46,000 12,40,000 31,07,000
ROE (net income / shareholders' equity) 17.3% 4.39% 12.3% 5.96% 11.2% 11.9% 11.7% 13.1%
ROA (Net income/ Total Assets) 7.2% 1.58% 4.51% 2.14% 3.67% 4.6% 5.1% 5.9%
Assets 1 5,90,85,890 6,14,52,623 6,27,01,337 6,93,01,638 7,67,18,947 7,47,93,478 7,49,60,784 7,61,18,644
Book Value Per Share 2 21,800 17,375 - 19,333 - 21,181 - -
Cash Flow per Share - - - - - - - -
Capex 1 20,31,508 17,52,865 12,49,087 13,72,993 14,56,495 14,08,000 14,47,000 14,88,000
Capex / Sales 1.07% 1.41% 0.74% 0.45% 0.53% 0.53% 0.61% 0.61%
Announcement Date 03/02/20 02/02/21 28/01/22 31/01/23 31/01/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
35,800 VND
Average target price
38,900 VND
Spread / Average Target
+8.66%
Consensus

Annual profits - Rate of surprise

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