The Discounted Cash Flow (DCF) valuation of Lam Son Sugar Joint Stock Corp (LSS.VN) is 50.51 VND. With the latest stock price at 9.50 VND, the upside of Lam Son Sugar Joint Stock Corp based on DCF is 431.7%.

Is LSS.VN a buy or a sell?

Based on the latest price of 9.50 VND and our DCF valuation, Lam Son Sugar Joint Stock Corp (LSS.VN) is a buy. Buying LSS.VN stocks now will result in a potential gain of 431.7%.

	Range	Selected
WACC / Discount Rate	5.5% - 7.8%	6.6%
Long-term Growth Rate	1.0% - 3.0%	2.0%
Fair Price	32.05 - 100.51	50.51
Upside	237.4% - 958.0%	431.7%

9.50 VND

Stock Price

50.51 VND

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

LSS.VN DCF Valuation: Revenue & Expenses Forecast

(VND in millions)		Projections

	06-2024	06-2025	06-2026	06-2027	06-2028	06-2029

Revenue	2,692,530	2,686,915	2,846,821	2,920,311	3,077,913	3,160,708
% Growth	49%	0%	6%	3%	5%	3%

Cost of goods sold	(2,350,287)	(2,298,478)	(2,386,562)	(2,399,206)	(2,478,112)	(2,493,877)
% of Revenue	87%	86%	84%	82%	81%	79%

Selling, G&A expenses	(136,331)	(136,047)	(144,144)	(147,865)	(155,845)	(160,037)
% of Revenue	5%	5%	5%	5%	5%	5%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(62,153)	(62,023)	(65,715)	(67,411)	(71,049)	(72,960)
% of Revenue	2%	2%	2%	2%	2%	2%

Tax expense	(22,400)	(35,456)	(46,638)	(56,961)	(69,455)	(80,802)
Tax rate	16%	19%	19%	19%	19%	19%

Net profit	121,359	154,911	203,764	248,868	303,453	353,032
% Margin	5%	6%	7%	9%	10%	11%