Ha Tien 1 Cement (HOSE:HT1) - Share price, News & Analysis

HT1 fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	1/6
Financial Health	5/6
Dividends	5/6

HT1 Stock Overview

Ha Tien 1 Cement Joint Stock Company manufactures and sells cement, cement products, and construction materials in Vietnam.

Rewards

Trading at 43.8% below our estimate of its fair value

Earnings are forecast to grow 28.28% per year

Risk Analysis

Dividend of 8.05% is not well covered by earnings

Profit margins (4.1%) are lower than last year (5.9%)

Ha Tien 1 Cement Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ha Tien 1 Cement
Historical stock prices
Current Share Price	₫14,900.00
52 Week High	₫28,200.00
52 Week Low	₫14,000.00
Beta	0.82
1 Month Change	-37.53%
3 Month Change	-29.22%
1 Year Change	-7.74%
3 Year Change	-15.82%
5 Year Change	-28.02%
Change since IPO	-60.27%

Shareholder Returns

	HT1	VN Basic Materials	VN Market
7D	-19.9%	-12.3%	-10.9%
1Y	-7.7%	1.6%	-6.5%

Return vs Industry: HT1 underperformed the VN Basic Materials industry which returned 1.7% over the past year.

Return vs Market: HT1 underperformed the VN Market which returned -6.4% over the past year.

Price Volatility

Is HT1's price volatile compared to industry and market?
HT1 volatility
HT1 Average Weekly Movement	7.2%
Basic Materials Industry Average Movement	7.1%
Market Average Movement	7.3%
10% most volatile stocks in VN Market	10.7%
10% least volatile stocks in VN Market	4.2%

Stable Share Price: HT1 is not significantly more volatile than the rest of VN stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: HT1's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1964	2,406	Luu Cuong	https://www.hatien1.com.vn

Ha Tien 1 Cement Joint Stock Company manufactures and sells cement, cement products, and construction materials in Vietnam. The company offers bricks, tiles, mortar, concrete, clinker, stone, sand, gravel, clay, and other raw materials. It is also involved in the real estate, civil construction, construction investment, scrap recycling, and waste collection and treatment businesses.

Ha Tien 1 Cement Fundamentals Summary

How do Ha Tien 1 Cement's earnings and revenue compare to its market cap?
HT1 fundamental statistics
Market Cap	₫5.69t
Earnings (TTM)	₫298.98b
Revenue (TTM)	₫7.28t

19.0x

P/E Ratio

0.8x

P/S Ratio

Is HT1 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
HT1 income statement (TTM)
Revenue	₫7.28t
Cost of Revenue	₫6.49t
Gross Profit	₫793.13b
Other Expenses	₫494.15b
Earnings	₫298.98b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	783.52
Gross Margin	10.89%
Net Profit Margin	4.11%
Debt/Equity Ratio	33.8%

How did HT1 perform over the long term?

See historical performance and comparison

Dividends

8.1%

Current Dividend Yield

153%

Payout Ratio

Valuation

Is Ha Tien 1 Cement undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

43.8%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: HT1 (₫14900) is trading below our estimate of fair value (₫26515.15)

Significantly Below Fair Value: HT1 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: HT1 is poor value based on its PE Ratio (19x) compared to the VN Basic Materials industry average (16.5x).

PE vs Market: HT1 is poor value based on its PE Ratio (19x) compared to the VN market (12.3x).

Price to Earnings Growth Ratio

PEG Ratio: HT1 is good value based on its PEG Ratio (0.7x)

Price to Book Ratio

PB vs Industry: HT1 is good value based on its PB Ratio (1.1x) compared to the VN Basic Materials industry average (1.4x).

Future Growth

How is Ha Tien 1 Cement forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

28.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HT1's forecast earnings growth (28.3% per year) is above the savings rate (3.9%).

Earnings vs Market: HT1's earnings (28.3% per year) are forecast to grow faster than the VN market (26.1% per year).

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

Revenue vs Market: HT1's revenue (3.4% per year) is forecast to grow slower than the VN market (18.3% per year).

High Growth Revenue: HT1's revenue (3.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: HT1's Return on Equity is forecast to be low in 3 years time (12.2%).

Past Performance

How has Ha Tien 1 Cement performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-3.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HT1 has high quality earnings.

Growing Profit Margin: HT1's current net profit margins (4.1%) are lower than last year (5.9%).

Past Earnings Growth Analysis

Earnings Trend: HT1's earnings have declined by 3.8% per year over the past 5 years.

Accelerating Growth: HT1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: HT1 had negative earnings growth (-36.2%) over the past year, making it difficult to compare to the Basic Materials industry average (-21.9%).

Return on Equity

High ROE: HT1's Return on Equity (5.8%) is considered low.

Financial Health

How is Ha Tien 1 Cement's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: HT1's short term assets (₫1,613.0B) do not cover its short term liabilities (₫3,562.6B).

Long Term Liabilities: HT1's short term assets (₫1,613.0B) exceed its long term liabilities (₫15.8B).

Debt to Equity History and Analysis

Debt Level: HT1's net debt to equity ratio (24.7%) is considered satisfactory.

Reducing Debt: HT1's debt to equity ratio has reduced from 97.1% to 33.8% over the past 5 years.

Debt Coverage: HT1's debt is well covered by operating cash flow (63.2%).

Interest Coverage: HT1's interest payments on its debt are well covered by EBIT (7x coverage).

Balance Sheet

Dividend

What is Ha Tien 1 Cement current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

8.05%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: HT1's dividend (8.05%) is higher than the bottom 25% of dividend payers in the VN market (2.99%).

High Dividend: HT1's dividend (8.05%) is in the top 25% of dividend payers in the VN market (7.58%)

Stability and Growth of Payments

Stable Dividend: HT1's dividends per share have been stable in the past 10 years.

Growing Dividend: HT1's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (153%), HT1's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (46.3%), HT1's dividend payments are well covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Materials industry.

Management

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

3.8yrs

Average management tenure

CEO

Luu Cuong

4.08yrs

Tenure

Mr. Luu Dinh Cuong is the CEO of Ha Tien 1 Cement Joint Stock Company since April 27, 2018.

Leadership Team

Experienced Management: HT1's management team is considered experienced (3.8 years average tenure).

Board Members

Experienced Board: HT1's board of directors are considered experienced (8.1 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.

Ownership Breakdown

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

Data	Last Updated (UTC time)
Company Analysis	2022/05/15 00:00
End of Day Share Price	2022/05/13 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31