Company Valuation: CMC Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 3,599,995 6,866,930 7,644,783 7,591,578 8,029,431 6,707,391
Change - 90.75% 11.33% -0.7% 5.77% -16.46%
Enterprise Value (EV) 1 3,567,380 7,001,348 7,360,216 7,534,258 7,741,416 6,922,546
Change - 96.26% 5.13% 2.36% 2.75% -10.58%
P/E 23.5x 29.4x 19.5x 26.4x 26.6x 15.4x
PBR 1.83x 3.17x 2.43x 2.88x 2.75x 2.05x
PEG - 0.6x 0.6x -4x 5.4x 0.4x
Capitalization / Revenue 0.69x 1.09x 1x 1.03x 0.98x 0.7x
EV / Revenue 0.69x 1.11x 0.96x 1.03x 0.94x 0.72x
EV / EBITDA 7.68x 12x 10.2x 9.93x 9.46x 7.38x
EV / EBIT 14.3x 19.7x 18.6x 18.9x 17.2x 12.8x
EV / FCF -86.1x -28.1x 18.1x -110x -122x -13x
FCF Yield -1.16% -3.56% 5.51% -0.91% -0.82% -7.68%
Dividend per Share 2 - 282.9 - - - -
Rate of return - 0.95% - - - -
EPS 2 662.3 1,010 1,325 1,237 1,298 1,866
Distribution rate - 28% - - - -
Net sales 1 5,181,109 6,290,385 7,663,640 7,341,773 8,202,642 9,560,842
EBITDA 1 464,315 584,340 719,677 758,849 818,157 937,493
EBIT 1 250,244 355,433 396,119 398,216 451,062 542,090
Net income 1 175,423 241,532 310,517 336,519 348,641 402,841
Net Debt 1 -32,615 134,419 -284,568 -57,321 -288,015 215,154
Reference price 2 15,574.69 29,708.72 25,893.92 32,719.08 34,545.45 28,800.00
Nbr of stocks (in thousands) 231,144 231,142 295,235 232,023 232,431 232,896
Announcement Date 30/6/21 30/6/22 30/6/23 1/7/24 28/6/25 4/5/26
1VND in Million2VND
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 213M
23.06x3.76x13.13x2.88% 221B
-131.77x18.43x100.28x-.--% 119B
13.87x1.53x8.03x3.46% 114B
14.91x2.73x10.29x5.51% 88.29B
20.51x5.38x13.21x2.78% 61.88B
14.81x2.16x9.15x5.26% 48.47B
21.96x1.8x11.18x1.33% 43.35B
21.25x1.61x10.31x0.89% 41.03B
17.85x2.28x10.7x4.89% 37.07B
Average 1.83x 4.41x 20.70x 3% 77.47B
Weighted average by Cap. -4.11x 5.30x 24.81x 2.87%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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