Saigon Beer - Alcohol - Beverage Future Growth

Future criteria checks 1/6

Saigon Beer - Alcohol - Beverage is forecast to grow earnings and revenue by 5.4% and 2.1% per annum respectively. EPS is expected to grow by 3.2% per annum. Return on equity is forecast to be 19.2% in 3 years.

Key information

5.4%

Earnings growth rate

3.2%

EPS growth rate

Beverage earnings growth	12.4%
Revenue growth rate	2.1%
Future return on equity	19.2%
Analyst coverage	Good
Last updated	19 Nov 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

HOSE:SAB - Analysts future estimates and past financials data (VND Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	34,933,506	4,770,503	N/A	5,462,500	4
12/31/2025	33,392,565	4,646,912	N/A	5,838,900	6
12/31/2024	32,441,324	4,424,500	N/A	4,267,000	3
9/30/2024	31,460,293	4,210,598	3,421,562	3,709,118	N/A
6/30/2024	31,205,089	4,135,910	2,786,548	3,098,540	N/A
3/31/2024	31,430,944	4,046,866	2,835,039	3,197,746	N/A
12/31/2023	30,461,367	4,016,901	1,656,329	1,940,064	N/A
9/30/2023	31,970,184	4,109,632	1,245,936	1,590,173	N/A
6/30/2023	33,190,359	4,407,164	2,688,575	3,091,865	N/A
3/31/2023	33,886,662	4,915,797	1,851,084	2,408,624	N/A
1/1/2023	34,979,084	5,119,189	3,845,353	4,378,517	N/A
9/30/2022	33,953,727	5,379,912	6,091,356	6,582,570	N/A
6/30/2022	29,600,985	4,481,936	3,770,542	4,220,609	N/A
3/31/2022	27,818,810	3,812,780	4,676,852	5,013,503	N/A
1/1/2022	26,373,746	3,562,920	3,188,311	3,517,852	N/A
9/30/2021	25,235,261	3,688,083	2,413,515	2,718,230	N/A
6/30/2021	29,005,043	4,637,132	3,723,881	4,095,610	N/A
3/31/2021	28,913,797	4,802,871	4,521,125	4,818,782	N/A
1/1/2021	27,961,324	4,582,265	3,761,169	4,128,612	N/A
9/30/2020	29,825,045	4,058,910	4,012,622	4,517,847	N/A
6/30/2020	31,518,361	4,052,386	3,826,235	4,204,989	N/A
3/31/2020	33,471,103	4,325,665	3,157,222	3,529,900	N/A
1/1/2020	37,899,060	4,846,154	4,736,015	5,005,013	N/A
9/30/2019	38,576,004	4,672,521	5,415,366	5,592,823	N/A
6/30/2019	37,393,285	4,260,905	4,990,301	5,200,443	N/A
3/31/2019	37,475,426	4,046,638	4,727,521	4,944,658	N/A
1/1/2019	35,948,553	3,939,449	4,224,347	4,514,786	N/A
9/30/2018	36,038,322	4,205,503	4,245,474	4,487,259	N/A
6/30/2018	35,530,718	4,328,836	N/A	4,962,576	N/A
3/31/2018	34,538,568	4,420,473	N/A	4,293,695	N/A
1/1/2018	34,193,391	4,433,723	N/A	5,067,819	N/A
9/30/2017	32,467,470	3,962,017	N/A	1,184,854	N/A
6/30/2017	31,444,356	4,092,263	N/A	300,752	N/A
3/31/2017	30,902,732	4,306,708	N/A	373,928	N/A
12/31/2016	30,466,694	3,969,595	N/A	719,373	N/A
9/30/2016	28,810,859	3,659,135	N/A	2,037,088	N/A
6/30/2016	27,523,588	3,476,478	N/A	2,900,077	N/A
3/31/2016	28,532,394	3,110,681	N/A	3,366,294	N/A
12/31/2015	27,144,302	3,007,202	N/A	2,157,735	N/A
9/30/2015	26,298,679	2,711,676	N/A	4,444,748	N/A
6/30/2015	26,857,852	2,644,103	N/A	3,584,058	N/A
3/31/2015	25,973,691	3,059,017	N/A	3,263,374	N/A
12/31/2014	24,610,877	2,424,737	N/A	2,899,477	N/A
9/30/2014	25,603,774	2,632,544	N/A	2,222,517	N/A
6/30/2014	25,186,758	2,412,945	N/A	2,898,412	N/A
3/31/2014	23,602,907	2,444,778	N/A	2,180,778	N/A
12/31/2013	24,015,604	2,149,602	N/A	2,911,258	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SAB's forecast earnings growth (5.4% per year) is above the savings rate (3%).

Earnings vs Market: SAB's earnings (5.4% per year) are forecast to grow slower than the VN market (18.6% per year).

High Growth Earnings: SAB's earnings are forecast to grow, but not significantly.

Revenue vs Market: SAB's revenue (2.1% per year) is forecast to grow slower than the VN market (16.8% per year).

High Growth Revenue: SAB's revenue (2.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SAB's Return on Equity is forecast to be low in 3 years time (19.2%).

Saigon Beer - Alcohol - Beverage Future Growth

Future criteria checks 1/6

Key information

Recent future growth updates

Price target decreased by 9.4% to ₫64,943

Price target decreased by 7.1% to ₫85,350

Price target decreased by 7.6% to ₫86,950

Consensus EPS estimates fall by 11%

Price target decreased to ₫187,350

Consensus EPS estimates fall to ₫6,031

Recent updates

Third quarter 2024 earnings released: EPS: ₫906 (vs ₫795 in 3Q 2023)

Dividend of ₫2,000 announced

Price target decreased by 9.4% to ₫64,943

Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Upcoming dividend of ₫2,000 per share

Saigon Beer - Alcohol - Beverage Corporation Announces Cash Dividend for the Year 2023, Payable on July 31, 2024

Investor sentiment improves as stock rises 16%

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

Full year 2023 earnings: EPS and revenues miss analyst expectations

Saigon Beer - Alcohol - Beverage Corporation, Annual General Meeting, Apr 25, 2024

Full year 2023 earnings released: EPS: ₫3,318 (vs ₫3,991 in FY 2022)

Price target decreased by 7.1% to ₫85,350

Upcoming dividend of ₫1,500 per share at 6.4% yield

Price target decreased by 7.6% to ₫86,950

Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Saigon Beer - Alcohol - Beverage Corporation Announces Executive Changes

Now 20% undervalued after recent price drop

Now 53% undervalued after recent price drop

Second quarter 2023 earnings released: EPS: ₫1,768 (vs ₫2,591 in 2Q 2022)

Upcoming dividend of ₫1,500 per share at 2.2% yield

Saigon Beer - Alcohol - Beverage Corporation Announces Dividend, Payable on July 7, 2023

Consensus EPS estimates fall by 11%

First quarter 2023 earnings released: EPS: ₫1,469 (vs ₫1,779 in 1Q 2022)

Upcoming dividend of ₫1,000 per share at 1.9% yield

Saigon Beer - Alcohol - Beverage Corporation, Annual General Meeting, Apr 27, 2023

Full year 2022 earnings released: EPS: ₫7,983 (vs ₫5,502 in FY 2021)

Upcoming dividend of ₫2,500 per share

Saigon Beer - Alcohol - Beverage Corporation Announces Second Cash Dividend for the Year 2022, Payable on March 24, 2023

Saigon Beer - Alcohol - Beverage Corporation Announces Second Cash Dividend Payment in 2022, Payable on March 24, 2023

Less than half of directors are independent

Saigon Beer - Alcohol - Beverage Corporation Announces Dividend, Payable on January 11, 2023

Third quarter 2022 earnings released: EPS: ₫2,046 (vs ₫636 in 3Q 2021)

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Less than half of directors are independent

Upcoming dividend of ₫1,500 per share

Saigon Beer - Alcohol - Beverage Corporation Declares 2021 Cash Dividend, Payable on March 23, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Saigon Beer - Alcohol - Beverage Corporation, Annual General Meeting, Apr 27, 2022

Saigon Beer - Alcohol - Beverage Corporation, Annual General Meeting, Apr 27, 2022

Price target decreased to ₫187,350

Upcoming dividend of ₫2,000 per share

Consensus EPS estimates fall to ₫6,031

Deputy General Director of Accounting, Finance & Other Support Functions Hong Keng Teo has left the company

Second quarter 2021 earnings released: EPS ₫1,505 (vs ₫1,761 in 2Q 2020)

First quarter 2021 earnings released: EPS ₫1,528 (vs ₫1,031 in 1Q 2020)

Full year 2020 earnings released: EPS ₫7,135 (vs ₫7,477 in FY 2019)

Earnings beat expectations, revenue disappoints

Investor sentiment deteriorated over the past week

New 90-day high: ₫207,100

Price target raised to ₫232,750

New 90-day high: ₫195,000

Price target raised to ₫217,333

Saigon Beer - Alcohol - Beverage Corporation to Report Q2, 2020 Results on Jul 29, 2020

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

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