106.3
RevenueVND B
270.8
286.4
295.0
315.0
326.3
340.9
361.7
381.0
401.4
418.1
114.9
5.08%
5.10%
26
12.26
Revenue growth%
22.67
24.82
22.21
24.29
26.27
26.96
27.42
28.70
26.81
25.47
15.29
26.96
25.87
67
11.04
Gross margin%
23.49
21.65
24.14
25.22
26.75
26.11
27.82
30.63
32.38
31.48
5.14
30.63
26.43
43
15.38
Operating margin%
28.10
27.54
28.91
30.94
32.11
29.68
29.00
31.24
34.14
33.99
19.62
31.24
30.31
38
5.76
Net margin%
28.95
26.62
25.01
26.43
25.75
25.26
23.91
23.78
21.46
18.52
24.08
23.78
25.13
69
13.99
P/E ratio (avg)x
19.06
18.22
20.96
21.01
19.46
19.10
20.54
23.35
22.03
22.61
20.88
22.03
20.75
58
25.04
EV/EBITx
22.85
24.36
23.81
24.65
23.60
24.81
26.18
25.54
29.96
33.71
23.88
26.18
24.73
92
4.30
FCF yield (avg)%
22.29
24.11
26.22
28.85
26.12
25.67
25.72
24.56
22.20
19.68
7.23
24.56
25.11
65
14.82
FCF margin%
0.40
0.40
0.40
0.40
0.40
0.40
2.21
1.24
3.95
5.36
2.18
2.21
0.40
13
0.648
FCF / Net incomex
1.541
1.473
1.567
1.738
1.682
1.666
1.954
2.160
2.057
2.404
0.633
2.057
1.710
91
21.00
ROIC%
11.65
11.05
12.09
12.16
13.48
11.47
8.60
6.97
5.03
2.92
20.17
6.97
11.26
23
29.58
Return on equity%
6.62
7.86
7.28
8.31
9.16
7.97
8.79
9.05
7.61
4.96
19.77
7.97
7.91
32
12.97
Return on assets%
3.65
3.48
4.59
6.51
7.67
9.01
11.82
14.18
16.34
15.49
18.45
14.18
8.34
18
1,484
EPSVND
1,926
2,124
2,243
2,045
2,287
2,542
2,535
2,553
2,737
2,969
1,627
5.36%
3.75%
—
4.93
EPS growth%
18.84
16.19
15.06
14.75
13.56
14.45
15.68
14.90
17.62
19.35
19.74
15.68
15.37
61
1,486
Bookvalue per shVND
653.93
642.33
605.40
665.94
656.68
723.44
781.83
759.90
732.49
690.20
458.56
1.00%
0.08%
—
1,629
FCF per shareVND
791.23
790.14
708.86
776.52
708.08
735.24
773.09
705.43
673.84
709.12
1,357
0.03%
(2.23%)
—
257.67
Dividend per shVND
730.74
667.45
592.64
511.74
449.59
469.88
462.36
472.60
468.02
467.83
767.27
0.80%
(4.20%)
—
12.28
Div yield (avg)%
29.07
26.34
24.74
22.05
23.50
26.42
29.34
29.45
28.33
27.17
9.95
28.33
26.79
19
16.20
Payout ratio%
19.70
21.27
21.83
20.11
20.24
22.46
25.04
22.32
24.70
25.82
17.92
24.70
22.08
92
156.0
Shares (diluted)M
166.5
153.0
137.0
147.2
154.0
171.7
176.9
164.4
167.9
185.1
156.8
3.75%
0.39%
67
21.42
Buyback yield%
12.95
10.50
10.36
12.23
10.74
10.11
9.71
11.95
9.54
9.03
8.56
9.71
10.43
17
1.001
D/E ratiox
2.567
2.724
3.093
3.060
2.983
3.368
3.829
3.599
3.911
3.782
1.401
3.782
3.231
92
275.3
Enterprise valueVND B
228.9
204.3
218.8
225.2
196.8
207.5
205.2
205.4
179.5
168.2
320.9
(3.08%)
(3.63%)
7
241.8
LT debtVND B
141.7
134.1
132.0
140.2
146.0
147.5
138.9
131.4
125.1
121.1
169.8
(3.67%)
(1.26%)
49
Revenue
VND 418.1B
5.10%
1.00×
Cost of revenue
VND 237.2B
5.04%
0.99×
Operating expenses
VND 50.14B
6.24%
1.11×
Spread over hurdle
(3.18%)