555.0
RevenueVND B
308.3
334.3
364.6
393.9
432.4
460.0
502.2
545.5
582.0
638.1
567.0
8.09%
8.25%
34
27.51
Revenue growth%
18.28
21.03
19.86
20.64
18.70
17.30
17.80
18.95
19.80
21.33
23.64
18.95
19.37
40
19.46
Gross margin%
23.44
22.26
20.93
22.18
24.57
27.22
27.20
27.62
27.91
27.28
16.25
27.28
25.88
51
23.57
Operating margin%
5.36
3.66
3.18
0.60
3.35
6.28
8.22
7.25
7.84
5.55
12.81
7.25
5.46
62
26.97
Net margin%
18.06
15.47
14.06
14.51
12.85
11.71
11.87
13.43
12.90
13.89
20.80
12.90
13.66
65
10.98
P/E ratio (avg)x
17.04
17.64
20.63
24.15
27.90
27.42
27.69
29.57
33.01
31.75
36.55
29.57
27.56
47
27.87
EV/EBITx
12.60
12.92
14.24
13.38
14.09
13.70
14.54
14.74
13.85
13.97
14.30
13.97
13.91
72
10.97
FCF yield (avg)%
11.69
10.74
10.04
7.35
5.15
2.57
2.97
0.42
0.40
1.67
21.60
1.67
4.06
91
14.37
FCF margin%
28.88
27.19
27.29
29.75
31.01
28.61
26.67
24.88
23.13
21.40
11.40
24.88
27.24
75
1.499
FCF / Net incomex
0.120
0.110
0.096
0.084
0.090
0.096
0.087
0.077
0.065
0.058
1.388
0.077
0.088
26
13.74
ROIC%
13.57
13.51
11.97
9.64
9.12
9.45
6.75
5.17
6.67
6.37
23.43
6.67
9.28
62
4.11
Return on equity%
1.71
4.61
6.94
6.85
9.10
11.87
11.18
11.18
8.75
10.87
2.81
11.18
8.93
6
26.37
Return on assets%
18.87
18.90
16.78
16.70
16.90
15.95
16.46
17.25
17.60
18.14
22.64
17.25
17.08
83
392.08
EPSVND
779.16
726.16
826.18
814.87
921.37
838.88
824.34
811.12
870.97
932.01
404.11
0.23%
1.65%
—
4.85
EPS growth%
3.85
1.73
3.88
4.02
3.71
3.10
4.24
5.77
3.28
3.40
9.96
3.40
3.78
26
408.18
Bookvalue per shVND
1,131
1,060
988.40
856.63
894.23
774.19
752.21
802.56
717.35
660.07
1,002
(5.89%)
(4.74%)
—
1,040
FCF per shareVND
583.33
663.36
742.09
861.07
999.32
1,078
1,067
1,071
1,233
1,206
408.67
3.82%
7.57%
—
317.49
Dividend per shVND
1,190
1,060
1,105
988.68
1,078
973.30
976.26
996.65
872.77
958.58
474.20
(2.33%)
(3.47%)
—
29.72
Div yield (avg)%
32.26
33.21
35.08
33.77
31.45
31.28
31.56
28.61
29.74
28.98
10.01
29.74
31.51
85
10.04
Payout ratio%
11.97
12.76
15.65
13.90
16.25
16.09
14.18
15.09
17.64
14.71
12.55
15.09
14.90
9
298.7
Shares (diluted)M
196.7
172.3
178.2
185.4
159.2
145.1
138.5
123.3
109.5
112.2
296.6
(6.75%)
(6.88%)
86
7.90
Buyback yield%
30.05
31.60
32.30
29.85
32.11
33.97
33.71
36.64
34.81
33.85
15.08
33.97
33.01
10
0.873
D/E ratiox
0.393
0.444
0.421
0.425
0.435
0.479
0.456
0.460
0.540
0.594
1.663
0.479
0.450
18
557.9
Enterprise valueVND B
901.9
876.3
886.0
877.1
845.4
819.2
920.9
996.1
1,049
1,069
345.6
4.80%
3.28%
81
345.0
LT debtVND B
342.9
376.1
394.9
431.3
414.6
434.7
415.2
379.7
397.4
371.0
370.3
(2.20%)
0.57%
52
Revenue
VND 638.1B
8.25%
1.00×
Cost of revenue
VND 403.5B
8.11%
0.99×
Operating expenses
VND 96.23B
8.50%
1.02×
Goodwill & intangibles
15.99%
Spread over hurdle
(7.40%)