Company Valuation: Vietnam Rubber Industry Group -

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2023 2024 2025 2026 2027 2028
Market Cap 1 147,800,000 84,800,000 121,400,000 104,800,000 129,400,000 - -
Change - - 43.16% -13.67% 23.47% - -
Enterprise Value (EV) 147,800,000 84,800,000 121,400,000 104,800,000 129,400,000 129,400,000 129,400,000
Change - - 43.16% -13.67% 23.47% 0% 0%
P/E - 43.7x 23.5x 21x 18.1x 16.8x 16.8x
PBR - - 2.29x 1.86x 1.98x 1.81x 1.59x
PEG - - 0x -6.94x 0.4x 2.15x 68.06x
Capitalization / Revenue - 3.83x 4.62x 3.6x 4x 3.99x 3.8x
EV / Revenue - 0x 0x 0x 4x 3.99x 3.8x
EV / EBITDA 0x 0x 0x 0x 14.5x 14.9x 12.9x
EV / EBIT - 0x 0x 0x 21.4x 21.4x 19.2x
EV / FCF - - - - 22.8x 21.3x 19.3x
FCF Yield - - - - 4.39% 4.7% 5.19%
Dividend per Share 2 600 - - - 1,000 766.7 766.7
Rate of return 1.62% - - - 3.09% 2.37% 2.37%
EPS 2 - 485 1,289 1,250 1,784 1,924 1,929
Distribution rate - - - - 56% 39.8% 39.7%
Net sales 1 - 22,138,403 26,254,333 29,078,056 32,338,200 32,461,000 34,062,667
EBITDA 1 7,498,877 4,995,423 6,839,690 8,068,273 8,905,000 8,689,667 10,028,000
EBIT 1 - 2,506,997 4,213,868 4,965,910 6,043,600 6,055,000 6,734,333
Net income 1 - 2,623,175 4,213,320 5,318,552 6,970,750 7,517,667 7,433,000
Net Debt - - - - - - -
Reference price 2 36,950.00 21,200.00 30,350.00 26,200.00 32,350.00 32,350.00 32,350.00
Nbr of stocks (in thousands) 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 - -
Announcement Date 5/4/22 20/3/24 26/1/25 29/3/26 - - -
1VND in Million2VND
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.13x - - 3.09% 4.96B
14.39x1.1x5.8x3.2% 32.29B
14.21x1.03x5.77x3.86% 27.55B
8.9x1.18x5.68x3.25% 7.34B
11.36x1.14x6.66x2.5% 7.13B
10.07x - - 3.02% 6.62B
10.16x0.68x5.48x3.98% 3.69B
7.97x0.86x4.12x3.72% 3.63B
36.63x1.95x10.98x1.82% 2.64B
119.8x - - - 2.34B
Average 25.16x 1.13x 6.36x 3.16% 9.82B
Weighted average by Cap. 16.32x 1.08x 5.93x 3.34%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  4. Valuation Vietnam Rubber Industry Group -