DHG Pharmaceutical Valuation

Q: What is the Fair Price of DHG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

DHG (₫105800) is trading below our estimate of [[fair value]] (₫114826.6)

Is DHG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DHG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DHG (₫105800) is trading below our estimate of fair value (₫114826.6)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DHG?

Key metric: As DHG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DHG. This is calculated by dividing DHG's market cap by their current earnings.
What is DHG's PE Ratio?
PE Ratio	17.2x
Earnings	₫804.09b
Market Cap	₫13.85t

DHG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.5x
Enterprise Value/EBITDA	12.5x
PEG Ratio	1.5x

Price to Earnings Ratio vs Peers

How does DHG's PE Ratio compare to its peers?

The above table shows the PE ratio for DHG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	49x
DHT Ha Tay Pharmaceutical JSC	122.6x	n/a	₫7.9t
IMP Imexpharm	32.5x	31.9%	₫7.3t
DBD Binh Dinh Pharmaceutical and Medical Equipment	23.2x	n/a	₫5.5t
TRA Traphaco	17.6x	n/a	₫3.3t
DHG DHG Pharmaceutical	17.2x	11.8%	₫13.8t

Price-To-Earnings vs Peers: DHG is good value based on its Price-To-Earnings Ratio (17.2x) compared to the peer average (49x).

Price to Earnings Ratio vs Industry

How does DHG's PE Ratio compare vs other companies in the Asian Pharmaceuticals Industry?

13 Companies	Price / Earnings	Estimated Growth	Market Cap

13 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: DHG is good value based on its Price-To-Earnings Ratio (17.2x) compared to the Asian Pharmaceuticals industry average (24x).

Price to Earnings Ratio vs Fair Ratio

What is DHG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DHG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.2x
Fair PE Ratio	20x

Price-To-Earnings vs Fair Ratio: DHG is good value based on its Price-To-Earnings Ratio (17.2x) compared to the estimated Fair Price-To-Earnings Ratio (20x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/26 10:22
End of Day Share Price	2024/12/26 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

DHG Pharmaceutical Joint Stock Company is covered by 9 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Hang Thi Vu	CGS International
Kien Giang	FPT Securities
Michael Kokalari	Maybank Investment Bank Berhad