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PNJ

Phu Nhuan JewelryHOSE:PNJ Stock Report

Market Cap

₫22.5t

7D

-1.5%

1Y

45.6%

Updated

24 Oct, 2021

Data

Company Financials +
PNJ fundamental analysis
Snowflake Score
Valuation1/6
Future Growth5/6
Past Performance2/6
Financial Health4/6
Dividends0/6

PNJ Overview

Phu Nhuan Jewelry Joint Stock Company, together with its subsidiaries, manufactures, retails, trades in, imports, and exports gold, silver, jewelry, and gemstones in Vietnam.

Price History & Performance

Summary of all time highs, changes and price drops for Phu Nhuan Jewelry
Historical stock prices
Current Share Price₫99,000.00
52 Week High₫65,400.00
52 Week Low₫109,100.00
Beta0.80
1 Month Change7.61%
3 Month Change9.15%
1 Year Change45.59%
3 Year Change42.55%
5 Year Change187.79%
Change since IPO1,135.52%

Recent News & Updates

Shareholder Returns

PNJVN LuxuryVN Market
7D-1.5%0.4%-0.2%
1Y45.6%92.6%45.8%

Return vs Industry: PNJ underperformed the VN Luxury industry which returned 92.6% over the past year.

Return vs Market: PNJ matched the VN Market which returned 45.8% over the past year.

Price Volatility

Is PNJ's price volatile compared to industry and market?
PNJ volatility
PNJ Beta0.80
Industry Beta0.94
Market Beta1

Stable Share Price: PNJ is less volatile than 75% of VN stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PNJ's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19886,100Le Thonghttps://www.pnj.com.vn

Phu Nhuan Jewelry Joint Stock Company, together with its subsidiaries, manufactures, retails, trades in, imports, and exports gold, silver, jewelry, and gemstones in Vietnam. The company offers its products under the CAO Fine Jewellery, PNJ Gold Jewelry, PNJ Silver, PNJ Art, and Jemma brands. It also provides fashion accessories; and jewelry inspection and consultancy services.

Phu Nhuan Jewelry Fundamentals Summary

How do Phu Nhuan Jewelry's earnings and revenue compare to its market cap?
PNJ fundamental statistics
Market Cap₫22.51t
Earnings (TTM)₫913.50b
Revenue (TTM)₫18.36t

24.6x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PNJ income statement (TTM)
Revenue₫18.36t
Cost of Revenue₫14.86t
Gross Profit₫3.49t
Expenses₫2.58t
Earnings₫913.50b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)4.02k
Gross Margin19.03%
Net Profit Margin4.98%
Debt/Equity Ratio43.5%

How did PNJ perform over the long term?

See historical performance and comparison

Valuation

Is Phu Nhuan Jewelry undervalued compared to its fair value and its price relative to the market?

5.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PNJ (₫99000) is trading below our estimate of fair value (₫104156.9)

Significantly Below Fair Value: PNJ is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PNJ is poor value based on its PE Ratio (24.6x) compared to the VN Luxury industry average (13.9x).

PE vs Market: PNJ is poor value based on its PE Ratio (24.6x) compared to the VN market (15x).


Price to Earnings Growth Ratio

PEG Ratio: PNJ is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: PNJ is overvalued based on its PB Ratio (4x) compared to the VN Luxury industry average (3.1x).


Future Growth

How is Phu Nhuan Jewelry forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

24.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PNJ's forecast earnings growth (24.6% per year) is above the savings rate (4.2%).

Earnings vs Market: PNJ's earnings (24.6% per year) are forecast to grow faster than the VN market (20% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PNJ's revenue (19.6% per year) is forecast to grow faster than the VN market (16.5% per year).

High Growth Revenue: PNJ's revenue (19.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PNJ's Return on Equity is forecast to be high in 3 years time (24.5%)


Past Performance

How has Phu Nhuan Jewelry performed over the past 5 years?

17.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PNJ has high quality earnings.

Growing Profit Margin: PNJ's current net profit margins (5%) are lower than last year (5.6%).


Past Earnings Growth Analysis

Earnings Trend: PNJ's earnings have grown by 17.1% per year over the past 5 years.

Accelerating Growth: PNJ's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PNJ had negative earnings growth (-3.5%) over the past year, making it difficult to compare to the Luxury industry average (3.8%).


Return on Equity

High ROE: PNJ's Return on Equity (18%) is considered low.


Financial Health

How is Phu Nhuan Jewelry's financial position?


Financial Position Analysis

Short Term Liabilities: PNJ's short term assets (₫7,887.3B) exceed its short term liabilities (₫3,600.4B).

Long Term Liabilities: PNJ's short term assets (₫7,887.3B) exceed its long term liabilities (₫9.2B).


Debt to Equity History and Analysis

Debt Level: PNJ's debt to equity ratio (43.5%) is considered high.

Reducing Debt: PNJ's debt to equity ratio has reduced from 78.4% to 43.5% over the past 5 years.

Debt Coverage: PNJ's debt is not well covered by operating cash flow (5%).

Interest Coverage: PNJ's interest payments on its debt are well covered by EBIT (15.3x coverage).


Balance Sheet


Dividend

What is Phu Nhuan Jewelry current dividend yield, its reliability and sustainability?

2.10%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PNJ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PNJ's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PNJ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PNJ's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PNJ is not paying a notable dividend for the VN market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PNJ's dividend in 3 years as they are not forecast to pay a notable one for the VN market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.1yrs

Average board tenure


CEO

Le Thong (42 yo)

no data

Tenure

Mr. Le Tri Thong has been Deputy Chairman at Phu Nhuan Jewelry Joint Stock Company since May 3, 2017 and also serves as its Member of Management Board. He is in charge of Customer & Retail Division and Sup...


Board Members

Experienced Board: PNJ's board of directors are considered experienced (5.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Phu Nhuan Jewelry Joint Stock Company's employee growth, exchange listings and data sources


Key Information

  • Name: Phu Nhuan Jewelry Joint Stock Company
  • Ticker: PNJ
  • Exchange: HOSE
  • Founded: 1988
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: ₫22.509t
  • Shares outstanding: 227.37m
  • Website: https://www.pnj.com.vn

Number of Employees


Location

  • Phu Nhuan Jewelry Joint Stock Company
  • 170E Phan Dang Luu Street
  • Ward 3
  • Ho Chi Minh City
  • Vietnam

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/24 10:09
End of Day Share Price2021/10/22 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.