Vietnam Airlines JSC
VN:HVN
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EV/EBITDA
Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.
Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.
Valuation Scenarios
If EV/EBITDA returns to its 3-Year Average (8.5), the stock would be worth ₫40 226.9 (78% upside from current price).
| Scenario | EV/EBITDA Value | Implied Price | Upside/Downside |
|---|---|---|---|
| Current Multiple | 4.8 | ₫22 650 |
0%
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| 3-Year Average | 8.5 | ₫40 226.9 |
+78%
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| 5-Year Average | 5.3 | ₫25 183.08 |
+11%
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| Industry Average | 17.5 | ₫82 532.39 |
+264%
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| Country Average | 10.5 | ₫49 427.36 |
+118%
|
Forward EV/EBITDA
Today’s price vs future ebitda
| Today's Enterprise Value | EBITDA | Forward EV/EBITDA | ||
|---|---|---|---|---|
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₫63.1T
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/ |
Jan 2026
₫13.2T
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= |
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₫63.1T
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/ |
Dec 2026
₫16.5T
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= |
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₫63.1T
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/ |
Dec 2027
₫17.4T
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= |
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Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.
Peer Comparison
| Market Cap | EV/EBITDA | P/E | ||||
|---|---|---|---|---|---|---|
| VN |
V
|
Vietnam Airlines JSC
VN:HVN
|
70.5T VND | 4.8 | 9.8 | |
| VN |
V
|
Vietjet Aviation JSC
VN:VJC
|
103.5T VND | 26.2 | 48.7 | |
| RU |
|
Aeroflot-Rossiyskiye Avialinii PAO
MOEX:AFLT
|
194.6B RUB | 2.4 | 1.9 | |
| MX |
|
Grupo Aeromexico SAB de CV
NYSE:AERO
|
1.8B USD | -0.8 | 10.3 | |
| AU |
V
|
Virgin Australia Holdings Ltd
ASX:VGN
|
1.7B AUD | 0 | 0 | |
| RU |
A
|
Aviakompaniya UTair PAO
MOEX:UTAR
|
92.9B RUB | 5.4 | -26.7 | |
| US |
|
Republic Airways Holdings Inc
NASDAQ:RJET
|
850m USD | 16.7 | -8.2 | |
| TW |
T
|
Tigerair Taiwan Co Ltd
TWSE:6757
|
22.3B TWD | 0 | 0 | |
| IL |
I
|
Israir Group Ltd
TASE:ISRG
|
379.6m ILS | 3 | 9.3 | |
| CA |
V
|
Volatus Aerospace Inc
NEO:FLT
|
474.5m CAD | -51.1 | -22.2 | |
| IS |
I
|
Icelandair Group hf
ICEX:ICEAIR
|
36.2B ISK | 3.6 | -31.7 |
Market Distribution
| Min | 0.1 |
| 30th Percentile | 6.9 |
| Median | 10.5 |
| 70th Percentile | 15.8 |
| Max | 3 893.3 |
Other Multiples
Vietnam Airlines JSC
Glance View
Vietnam Airlines JSC, the national flag carrier of Vietnam, has woven its journey through the ever-changing tapestry of the aviation industry. Established in 1956, the airline has grown from a domestic carrier into a significant player on the international stage, with a network that spans across Asia, Europe, and Australasia. Headquartered in Hanoi, Vietnam Airlines operates with a fleet that balances the modern efficiency of Airbus and Boeing aircraft, offering both passenger and cargo services. The company generates revenue predominantly through ticket sales and cargo transport, working to capture the increasing demand for air travel in Vietnam, a nation experiencing rapid economic expansion. Its business model focuses on providing quality service, leveraging Vietnam's strategic location in the ASEAN region, as well as its growing middle class and booming tourism sector. In its pursuit to navigate turbulent industry challenges, Vietnam Airlines embraced modernization and partnership strategies. A crucial turning point came in 2010 when it joined the SkyTeam alliance, enhancing its global connectivity and brand prestige. Another milestone was its partial privatization in 2014, which infused much-needed capital and prompted operational improvements. Besides passenger services, Vietnam Airlines also taps into ancillary services for additional revenue, such as premium lounges, inflight services, and holiday packaging through Vietnam Airlines Services Company (VASCO), its subsidiary. With a strategic focus on digital transformation and sustainability, the airline seeks to enhance customer experience while reducing its environmental footprint, thus positioning itself for long-term success in a competitive market.
