QTP – Not only a growing stock but also a dividends yield play
- In 3Q2022, QTP posted revenue and NPATMI of VND 3.141 bn (or USD 131 mn) and VND 147 bn (or USD 6.1 mn), +59% YoY and +72% YoY, respectively. Revenue surged in the rainy season owing to (1) a slight rise of 10% YoY in volume and (2) a climb of 50% in ASP. Gross profit margin expanded by 145bps to 7% in 3Q2022 from 6% in 3Q2021.
- The dry season is set to come back and QTP’s earnings are going to grow in 2023 thanks to (1) thermal turnaround theme and (2) competitive costs.
- Currently, QTP is trading as 7.2x and 0.97x of P/E and P/B, respectively, which is relatively lower than that of the last 5-year on an average basis. Meanwhile, the dividend yield is forecasted to be roughly 10% as of Dec 08th, 2022. Therefore, investors can BUY this stock to enjoy a capital gain and cash dividend.
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