Research Centre

Free access to research reports covering macro economy, market, sectors or individual stocks
Title DPM - PetroVietnam Fertilizer and Chemicals
Type Summary Report
Business Petrovietnam Fertilizer and Chemical Joint Stock Company
Ticker DPM
File Detail
Date: 11/03/2011 Page: 8 File Type
Description DPM is not expensive but it is difficult to see there being a catalyst to ignite the stock – therefore in a binary buy or sell world, we say sell. At our estimated FY11 sales of VND6,508bn (-2% YoY) and net profit of VND1,558bn (-8.7% YoY), it is on 8.6x earnings, 47% lower than the 16.3x of regional peers; 2011 PBR is 2.0x, 13% lower than the regional average of 2.3x; and 2011 PSR is 2.1x, 75% above the regional average of 1.2x. As DPM is now running at maximum capacity, near term sales growth is constrained; but reported gross profit margins will hold up on account of a now-fully-depreciated fixed asset base, even despite rising raw material costs (i.e. gas).
Recommend Sell
Report Folder
  Latest   Companies   Global Markets   Others
  Top 10   Sector   Emerging Markets  
  Market   Macro   Sources  
Category Sector
Symbol Lookup:  #  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  T  S  U  V  W  X  Y  Z
 Foreigners allowed to own homes for 100 years
 Public debt swells after dong devaluation - experts
 BIDV unveils merger plan with MHB
 HAGL targets 300,000 cows next year
 SOEs operation to be announced publicly
Copyrights 2014 StoxPlus. All rights reserved.
Content Manager: DUONG THI HUONG LAN
Head office: 4th Floor, 36 Hoang Cau Street, O Cho Dua Ward, Dong Da District, Hanoi, Vietnam
Tel: (844)3562 6962 Fax: (844) 3.5625055
Email: stoxplus@stoxplus.com
Publication License No. 2769/GP – TTDT, granted by Hanoi Department of Information and Communications