Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫71,600, the stock trades at a trailing P/E ratio of 14.7x. Average forward P/E is 9x in the Chemicals industry in Vietnam. Total returns to shareholders of 417% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫66,600, the stock trades at a trailing P/E ratio of 13.7x. Average forward P/E is 10x in the Chemicals industry in Vietnam. Total returns to shareholders of 408% over the past three years. Ankündigung • Apr 07
Binh Dien Fertilizer Joint Stock Company, Annual General Meeting, Apr 24, 2026 Binh Dien Fertilizer Joint Stock Company, Annual General Meeting, Apr 24, 2026, at 08:30 SE Asia Standard Time. Location: white palace convention center, 194 hoang van thu, due nhuan ward, ho chi minh Vietnam Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₫58,200, the stock trades at a trailing P/E ratio of 11.9x. Average forward P/E is 14x in the Chemicals industry in Vietnam. Total returns to shareholders of 341% over the past three years. Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: ₫4,878 (vs ₫5,486 in FY 2024) Full year 2025 results: EPS: ₫4,878 (down from ₫5,486 in FY 2024). Revenue: ₫11t (up 13% from FY 2024). Net income: ₫278.9b (down 11% from FY 2024). Profit margin: 2.6% (down from 3.4% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. High level of non-cash earnings (49% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.8% average weekly change). Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫70,000, the stock trades at a trailing P/E ratio of 14.3x. Average forward P/E is 14x in the Chemicals industry in Vietnam. Total returns to shareholders of 429% over the past three years. Reported Earnings • Feb 04
Full year 2025 earnings released: EPS: ₫4,879 (vs ₫5,620 in FY 2024) Full year 2025 results: EPS: ₫4,879 (down from ₫5,620 in FY 2024). Revenue: ₫11t (up 13% from FY 2024). Net income: ₫309.9b (down 3.5% from FY 2024). Profit margin: 2.9% (down from 3.4% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 44% per year. New Risk • Nov 03
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. High level of non-cash earnings (32% accrual ratio). Minor Risk Market cap is less than US$100m (₫2.61t market cap, or US$99.3m). Reported Earnings • Nov 03
Third quarter 2025 earnings released: EPS: ₫963 (vs ₫829 in 3Q 2024) Third quarter 2025 results: EPS: ₫963 (up from ₫829 in 3Q 2024). Revenue: ₫2.06t (up 1.4% from 3Q 2024). Net income: ₫61.2b (up 16% from 3Q 2024). Profit margin: 3.0% (up from 2.6% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 21
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 8.1% to ₫50,800. The fair value is estimated to be ₫41,012, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 39%. Reported Earnings • Jul 29
Second quarter 2025 earnings released: EPS: ₫1.82 (vs ₫2,841 in 2Q 2024) Second quarter 2025 results: EPS: ₫1.82 (down from ₫2,841 in 2Q 2024). Revenue: ₫3.53t (up 21% from 2Q 2024). Net income: ₫115.7b (down 29% from 2Q 2024). Profit margin: 3.3% (down from 5.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 23% per year. Declared Dividend • May 28
Dividend of ₫2,500 announced Shareholders will receive a dividend of ₫2,500. Ex-date: 11th June 2025 Payment date: 27th June 2025 Dividend yield will be 6.3%, which is higher than the industry average of 5.2%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 40% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 05
First quarter 2025 earnings released: EPS: ₫1,458 (vs ₫818 in 1Q 2024) First quarter 2025 results: EPS: ₫1,458 (up from ₫818 in 1Q 2024). Revenue: ₫2.55t (up 32% from 1Q 2024). Net income: ₫92.6b (up 123% from 1Q 2024). Profit margin: 3.6% (up from 2.1% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Ankündigung • Apr 10
Binh Dien Fertilizer Joint Stock Company, Annual General Meeting, Apr 29, 2025 Binh Dien Fertilizer Joint Stock Company, Annual General Meeting, Apr 29, 2025, at 08:30 SE Asia Standard Time. Location: white palace convention center, no.194 hoang van thu street, ward 9, phu nhuan district, ho chi minh Vietnam Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₫35,100, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 11x in the Chemicals industry in Vietnam. Total returns to shareholders of 15% over the past three years. Reported Earnings • Mar 17
Full year 2024 earnings released: EPS: ₫5,620 (vs ₫2,082 in FY 2023) Full year 2024 results: EPS: ₫5,620 (up from ₫2,082 in FY 2023). Revenue: ₫9.36t (up 9.0% from FY 2023). Net income: ₫321.3b (up 170% from FY 2023). Profit margin: 3.4% (up from 1.4% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 13
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 17 December 2024. Payment date: 30 December 2024. Payout ratio is a comfortable 40% and the cash payout ratio is 80%. Trailing yield: 6.6%. Lower than top quartile of Vietnamese dividend payers (8.1%). Higher than average of industry peers (3.8%). Declared Dividend • Nov 29
Dividend of ₫500 announced Dividend of ₫500 is the same as last year. Ex-date: 17th December 2024 Payment date: 30th December 2024 Dividend yield will be 6.5%, which is higher than the industry average of 5.2%. Sustainability & Growth Dividend is covered by both earnings (40% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 38% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Ankündigung • Nov 28
Binh Dien Fertilizer Joint Stock Company Approves First Cash Dividend Payment for 2024, Payable on December 30, 2024 The Board of Directors of Binh Dien Fertilizer Joint Stock Company approved the plan to pay the first cash dividend payment for 2024 as follows: Record date: December 18, 2024, Exercise ratio: 5%/share (500 dongs/share) and Payment date: December 30, 2024. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: ₫829 (vs ₫1,272 in 3Q 2023) Third quarter 2024 results: EPS: ₫829 (down from ₫1,272 in 3Q 2023). Revenue: ₫2.03t (down 25% from 3Q 2023). Net income: ₫52.7b (down 35% from 3Q 2023). Profit margin: 2.6% (down from 3.0% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Sep 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₫2.42t (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (₫2.42t market cap, or US$99.4m). Reported Earnings • Jul 30
Second quarter 2024 earnings released: EPS: ₫2,639 (vs ₫781 in 2Q 2023) Second quarter 2024 results: EPS: ₫2,639 (up from ₫781 in 2Q 2023). Revenue: ₫2.92t (up 25% from 2Q 2023). Net income: ₫167.6b (up 275% from 2Q 2023). Profit margin: 5.7% (up from 1.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫43,950, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 18x in the Chemicals industry in Vietnam. Total returns to shareholders of 120% over the past three years. Ankündigung • May 29
Binh Dien Fertilizer Joint Stock Company Announces Cash Dividend for the Year 2023, Payable on June 28, 2024 The Board resolution dated May 24, 2024, the BOD of Binh Dien Fertilizer Joint Stock Company approved the plan to pay the remaining cash dividend for 2023 in the amount of 20%/share VND 2,000 /share. Record date is June 14, 2024. Payment time is June 28, 2024. Declared Dividend • May 26
Dividend of ₫2,000 announced Shareholders will receive a dividend of ₫2,000. Ex-date: 13th June 2024 Payment date: 28th June 2024 Dividend yield will be 6.4%, which is higher than the industry average of 5.2%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio). However, it is well covered by cash flows (15% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 2.1% to bring the payout ratio under control, which is less than the 9.5% EPS growth achieved over the last 5 years. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫31,750, the stock trades at a trailing P/E ratio of 8.3x. Average forward P/E is 14x in the Chemicals industry in Vietnam. Total returns to shareholders of 98% over the past three years. Ankündigung • Apr 06
Binh Dien Fertilizer Joint Stock Company, Annual General Meeting, Apr 26, 2024 Binh Dien Fertilizer Joint Stock Company, Annual General Meeting, Apr 26, 2024, at 01:30 Coordinated Universal Time. Location: GEM Center, No.08 Nguyen Binh Khiem street, Da Kao ward, district 1, HCMC HCMC Vietnam Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫31,100, the stock trades at a trailing P/E ratio of 12x. Average forward P/E is 13x in the Chemicals industry in Vietnam. Total returns to shareholders of 83% over the past three years. New Risk • Feb 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Dividend is not well covered by earnings (95% payout ratio). Share price has been volatile over the past 3 months (5.5% average weekly change). Profit margins are more than 30% lower than last year (1.4% net profit margin). Market cap is less than US$100m (₫1.47t market cap, or US$60.2m). Upcoming Dividend • Dec 20
Upcoming dividend of ₫500 per share at 8.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 18 January 2024. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 8.1%. Lower than top quartile of Vietnamese dividend payers (8.9%). Higher than average of industry peers (5.9%). Ankündigung • Dec 11
Binh Dien Fertilizer Joint Stock Company Announces First Cash Dividend Payment in 2023, Payable on January 18, 2024 On 05 December, 2023, the BOD Binh Dien Fertilizer Joint Stock Company approved the record date for the 1st cash dividend payment in 2023 as follows: Exercise ratio: 5% (VND 500 /share); Expected payment amount: VND 28,583,996,500; Record date: December 28, 2023; Payment date: January 18, 2024. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫23,300, the stock trades at a trailing P/E ratio of 11.7x. Average forward P/E is 10x in the Chemicals industry in Vietnam. Total returns to shareholders of 87% over the past three years. New Risk • Nov 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.4% Last year net profit margin: 2.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.4% net profit margin). Market cap is less than US$100m (₫1.13t market cap, or US$46.0m). Ankündigung • Oct 20
Binh Dien Fertilizer Joint Stock Company Appoints Mr. Phan Van Tam as Deputy CEO Binh Dien Fertilizer Joint Stock Company appointed Mr. Phan Van Tam as Deputy CEO. Effective date: October 17, 2023. Reported Earnings • Aug 01
Second quarter 2023 earnings released: EPS: ₫835 (vs ₫928 in 2Q 2022) Second quarter 2023 results: EPS: ₫835 (down from ₫928 in 2Q 2022). Revenue: ₫2.33t (up 29% from 2Q 2022). Net income: ₫53.0b (flat on 2Q 2022). Profit margin: 2.3% (down from 2.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 20% p.a. on average during the next 2 years, while revenues in the Chemicals industry in Vietnam are expected to grow by 1.8%. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • Jun 16
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 250% The company is paying a dividend despite having no free cash flows. Dividend yield: 12% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 250% Paying a dividend despite having no free cash flows. Earnings have declined by 0.05% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (₫949.0b market cap, or US$40.3m). Upcoming Dividend • Jun 08
Upcoming dividend of ₫1,400 per share at 6.5% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 30 June 2023. Payout ratio is on the higher end at 84% but the company is not cash flow positive. Trailing yield: 6.5%. Lower than top quartile of Vietnamese dividend payers (8.5%). In line with average of industry peers (6.5%). Ankündigung • Jun 01
Binh Dien Fertilizer Joint Stock Company Approves Dividend for the Last Phase of 2022, Payable on June 30, 2023 The Board of Directors of Binh Dien Fertilizer Joint Stock Company approved to pay for the last phase of 2022 dividend in cash: Record date: June 16, 2023. Payment date: June 30, 2023. Dividend pay-out ratio: 14%/par share (VND 1,400/share). Ankündigung • May 06
Binh Dien Fertilizer Joint Stock Company Announces Personnel Change On April 29, 2023, Binh Dien Fertilizer Joint Stock Company announced the personnel changes from April 28, 2023, announced Appointment of Mr. Nguyen Bao Ve as Independent member of the BOD and Resignation of Mr. Mai Thanh Phung as Independent member of the BOD. Reported Earnings • Jan 23
Full year 2022 earnings released: EPS: ₫2,247 (vs ₫3,457 in FY 2021) Full year 2022 results: EPS: ₫2,247 (down from ₫3,457 in FY 2021). Revenue: ₫8.58t (up 11% from FY 2021). Net income: ₫142.7b (down 28% from FY 2021). Profit margin: 1.7% (down from 2.6% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Ankündigung • Jan 17
Binh Dien Fertilizer Joint Stock Company Provides Production and Earnings Guidance for the First Quarter and Full Year of 2023 Binh Dien Fertilizer Joint Stock Company provided production and earnings guidance for the first quarter and full year of 2023. For the quarter, the company expects production output to be 93,580 tons. Consumption output to be 93,580 tons. Total revenue to be VND 1,354.5 billion. Consolidated profit before tax to be VND 20.4 billion. Separate profit before tax to be VND 15 billion.For the full year, the company expects production output to be 585,570 tons. Consumption output to be 585,570 tons. Total revenue to be VND 7,476.5 billion. Consolidated profit before tax to be VND 220 billion. Separate profit before tax to be VND 155 billion. Upcoming Dividend • Jan 10
Upcoming dividend of ₫600 per share Eligible shareholders must have bought the stock before 17 January 2023. Payment date: 10 February 2023. Payout ratio is on the higher end at 80% but the company is not cash flow positive. Trailing yield: 7.0%. Lower than top quartile of Vietnamese dividend payers (9.3%). In line with average of industry peers (6.5%). Ankündigung • Dec 14
Binh Dien Fertilizer Joint Stock Company Approves Dividend for the First Phase of 2022, Payable on February 10, 2023 The Board of Directors of Binh Dien Fertilizer Joint Stock Company approved to pay for the first phase of 2022 dividend in cash: Record date: January 18, 2023; Payment date: February 10, 2023; Dividend pay-out ratio: 6% /par value (VND 600 per share). Ankündigung • Nov 25
Binh Dien Fertilizer Joint Stock Company Appoints Tran Ngoc Hung from Deputy Head of Financial & Accountant Department to Chief Accountant Cum Head of Financial & Accountant Department Binh Dien Fertilizer Joint Stock Company announced that the appointment of Mr. Tran Ngoc Hung from Deputy Head of financial & Accountant Department to Chief Accountant cum Head of financial & Accountant Department. Effective date is November 22, 2022. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Chairman of the Board Thieu Nguyen was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Nov 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 35%. The fair value is estimated to be ₫20,126, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 39%. Ankündigung • Oct 29
Binh Dien Fertilizer Joint Stock Company Appoints Mrs. Tran Thi Thanh Thanh as Secretary Binh Dien Fertilizer Joint Stock Company announced the change in personnel as follows Appointment: Mrs. Tran Thi Thanh Thanh. Former position in the organization: Newly appointed position: Secretary. Effective date October 27, 2022. Buying Opportunity • Oct 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be ₫20,398, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 42%. Ankündigung • Oct 19
Binh Dien Fertilizer Joint Stock Company Provides Production and Revenue Guidance for the Third Quarter and Nine Months and Fourth Quarter of 2022 Binh Dien Fertilizer Joint Stock Company provided production and revenue guidance for the third quarter and nine months and fourth quarter of 2022. For the third quarter, the company expects production output of 125,464 tons.For the nine months, the company expects production output of 400,522 tons.For the third quarter, the company expects total revenue of VND 2,317.4 billion.For the nine months, the company expects total revenue of VND 6,800 billion.For the fourth quarter, the company expects production output of 142,748 tons.For the fourth quarter, the company expects total revenue of VND 1,537 billion. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₫18,150, the stock trades at a trailing P/E ratio of 5.1x. Average forward P/E is 6x in the Chemicals industry in Vietnam. Total returns to shareholders of 56% over the past three years. Ankündigung • Sep 13
Binh Dien Fertilizer Joint Stock Company Appoints Tran Ngoc Hung as Deputy Head of Financial & Accountant Department On September 08, 2022, Binh Dien Fertilizer Joint Stock Company announced the change in personnel as follows: The appointment of Mr. Tran Ngoc Hung as Deputy Head of financial & Accountant Department as from September 08, 2022. Ankündigung • Aug 31
Binh Dien Fertilizer Joint Stock Company Announces Retirement of Tran Tan Son as CFO Binh Dien Fertilizer Joint Stock Company announced personnel change as follows: Chief Accountant cum CFO Tran Tan Son retires from September 01, 2022. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₫27,000, the stock trades at a trailing P/E ratio of 7.5x. Average forward P/E is 8x in the Chemicals industry in Vietnam. Total returns to shareholders of 130% over the past three years. Price Target Changed • Aug 25
Price target decreased to ₫25,800 Down from ₫31,300, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₫25,850. Stock is down 25% over the past year. The company posted earnings per share of ₫3,457 last year. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: ₫859 (vs ₫956 in 2Q 2021) Second quarter 2022 results: EPS: ₫859. Revenue: ₫1.81t (down 22% from 2Q 2021). Net income: ₫54.6b (flat on 2Q 2021). Profit margin: 3.0% (up from 2.4% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 10% compared to a 6.2% decline forecast for the industry in Vietnam. Ankündigung • Jul 07
Binh Dien Fertilizer Joint Stock Company Provides Production and Revenue Guidance for the Third Quarter of 2022 Binh Dien Fertilizer Joint Stock Company provided production and revenue guidance for the third quarter of 2022. for the quarter, the company expects production output of 153,000 tons.For the quarter, the company expects total revenue of VND 2,365 billion. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫28,350, the stock trades at a trailing P/E ratio of 7.8x. Average forward P/E is 11x in the Chemicals industry in Vietnam. Total returns to shareholders of 69% over the past three years. Upcoming Dividend • Jun 10
Upcoming dividend of ₫2,000 per share Eligible shareholders must have bought the stock before 17 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 6.6%. Lower than top quartile of Vietnamese dividend payers (7.3%). Higher than average of industry peers (2.3%). Price Target Changed • Jun 07
Price target increased to ₫31,300 Up from ₫25,100, the current price target is provided by 1 analyst. New target price is 6.3% below last closing price of ₫33,400. Stock is up 26% over the past year. The company posted earnings per share of ₫3,457 last year. Ankündigung • Jun 04
Binh Dien Fertilizer Joint Stock Company Approves Cash Dividend for 2021, Payable on June 30, 2022 The Board resolution dated May 27, 2022, the BOD of Binh Dien Fertilizer Joint Stock Company approved the record date for 2021 cash dividend payment as follows: Record date: June 20, 2022; Exercise ratio: 20%/share (VND 2,000 per share); Payment date: June 30, 2022. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 18% share price gain to ₫27,700, the stock trades at a trailing P/E ratio of 7.6x. Average forward P/E is 13x in the Chemicals industry in Vietnam. Total returns to shareholders of 63% over the past three years. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: ₫1,046 (vs ₫873 in 1Q 2021) First quarter 2022 results: EPS: ₫1,046 (up from ₫873 in 1Q 2021). Revenue: ₫2.59t (up 47% from 1Q 2021). Net income: ₫66.4b (up 50% from 1Q 2021). Profit margin: 2.6% (in line with 1Q 2021). Over the next year, revenue is expected to shrink by 29% compared to a 4.9% decline forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Mai Phung was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 16
Binh Dien Fertilizer Joint Stock Company Receives Resignation Letter of Mr. Bui the Chuyen as Member Cum Chairman of BOD On April 13, 2022, Binh Dien Fertilizer Joint Stock Company received the Resignation Letter of Mr. Bui The Chuyen as member cum Chairman of BOD. Ankündigung • Apr 10
Binh Dien Fertilizer Joint Stock Company, Annual General Meeting, Apr 29, 2022 Binh Dien Fertilizer Joint Stock Company, Annual General Meeting, Apr 29, 2022, at 01:30 Coordinated Universal Time. Location: at White Palace, 194 Hoang Van Thu, Phu Nhuan District Ho Chi Minh Vietnam Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫38,600, the stock trades at a trailing P/E ratio of 11.2x. Average forward P/E is 13x in the Chemicals industry in Vietnam. Total returns to shareholders of 104% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 16% share price gain to ₫42,800, the stock trades at a trailing P/E ratio of 12.4x. Average forward P/E is 13x in the Chemicals industry in Vietnam. Total returns to shareholders of 116% over the past three years. Reported Earnings • Mar 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ₫3,457 (up from ₫2,097 in FY 2020). Revenue: ₫7.74t (up 43% from FY 2020). Net income: ₫197.6b (up 65% from FY 2020). Profit margin: 2.6% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Over the next year, revenue is expected to shrink by 22% compared to a 1.6% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 23% per year. Reported Earnings • Jan 28
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: ₫3,459 (up from ₫2,097 in FY 2020). Revenue: ₫7.71t (up 42% from FY 2020). Net income: ₫197.7b (up 65% from FY 2020). Profit margin: 2.6% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 21% compared to a 9.5% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 11
Price target increased to ₫28,330 Up from ₫25,100, the current price target is provided by 1 analyst. New target price is 23% below last closing price of ₫36,950. Stock is up 127% over the past year. The company posted earnings per share of ₫2,097 last year. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 18% share price gain to ₫36,000, the stock trades at a trailing P/E ratio of 12.3x. Average forward P/E is 13x in the Chemicals industry in Vietnam. Total returns to shareholders of 76% over the past three years. Price Target Changed • Sep 23
Price target increased to ₫25,100 Up from ₫22,900, the current price target is provided by 1 analyst. New target price is 23% below last closing price of ₫32,800. Stock is up 99% over the past year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 23% share price gain to ₫33,450, the stock trades at a trailing P/E ratio of 11.4x. Average forward P/E is 16x in the Chemicals industry in Vietnam. Total returns to shareholders of 71% over the past three years. Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS ₫902 (vs ₫865 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ₫2.34t (up 41% from 2Q 2020). Net income: ₫57.3b (up 16% from 2Q 2020). Profit margin: 2.5% (down from 3.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 11
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 17 June 2021. Payment date: 30 June 2021. Trailing yield: 7.1%. Lower than top quartile of Vietnamese dividend payers (7.8%). Higher than average of industry peers (4.5%). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improved over the past week After last week's 16% share price gain to ₫24,150, the stock trades at a trailing P/E ratio of 8.2x. Average forward P/E is 15x in the Chemicals industry in Vietnam. Total returns to shareholders of 2.1% over the past three years. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS ₫2,097 (vs ₫1,131 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₫5.42t (down 12% from FY 2019). Net income: ₫119.9b (up 85% from FY 2019). Profit margin: 2.2% (up from 1.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 01
New 90-day high: ₫18,900 The company is up 22% from its price of ₫15,500 on 01 December 2020. The Vietnamese market is up 17% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 27% over the same period. Is New 90 Day High Low • Feb 01
New 90-day low: ₫14,700 The company is down 6.0% from its price of ₫15,700 on 03 November 2020. The Vietnamese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 29% over the same period. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS ₫2,103 (vs ₫1,165 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₫5.42t (down 12% from FY 2019). Net income: ₫133.6b (up 101% from FY 2019). Profit margin: 2.5% (up from 1.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue misses expectations Revenue missed analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 11%, compared to a 4.6% growth forecast for the Chemicals industry in Vietnam. Is New 90 Day High Low • Dec 31
New 90-day high: ₫17,450 The company is up 3.0% from its price of ₫17,000 on 02 October 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 9.0% over the same period. Upcoming Dividend • Nov 12
Upcoming Dividend of ₫500 Per Share Will be paid on the 10th of December to those who are registered shareholders by the 19th of November. The trailing yield of 7.4% is below the top quartile of Vietnamese dividend payers (9.2%), but is in line with industry peers (6.9%). Is New 90 Day High Low • Sep 28
New 90-day high: ₫17,200 The company is up 50% from its price of ₫11,500 on 30 June 2020. The Vietnamese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 16% over the same period.