Board Change • May 13
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. 6 non-independent directors. Member of Supervisory Board Nhu Thi Tran was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Apr 25
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 139% Cash payout ratio: 125% Dividend yield: 4.3% 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Cash payout ratio: 125% Earnings have declined by 7.6% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₫493.5b market cap, or US$18.8m). Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: ₫314 (vs ₫183 in 1Q 2025) First quarter 2026 results: EPS: ₫314 (up from ₫183 in 1Q 2025). Revenue: ₫1.02t (up 13% from 1Q 2025). Net income: ₫4.44b (up 72% from 1Q 2025). Profit margin: 0.4% (up from 0.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 09
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 16 March 2026. Payment date: 02 April 2026. The company is paying out more than 100% of its profits and is paying out 76% of its cash flow. Trailing yield: 4.1%. Lower than top quartile of Vietnamese dividend payers (7.7%). Higher than average of industry peers (1.5%). Declared Dividend • Feb 13
Dividend reduced to ₫1,000 Dividend of ₫1,000 is 33% lower than last year. Ex-date: 16th March 2026 Payment date: 2nd April 2026 Dividend yield will be 2.8%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not covered by earnings (139% earnings payout ratio). However, it is covered by cash flows (78% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 54% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Annonce • Feb 12
Materials-Petroleum Joint Stock Company announces Annual dividend, payable on April 02, 2026 Materials-Petroleum Joint Stock Company announced Annual dividend of VND 1000.0000 per share payable on April 02, 2026, ex-date on March 16, 2026 and record date on March 17, 2026. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₫36,800, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 18x in the Specialty Retail industry in Vietnam. Total returns to shareholders of 37% over the past three years. Reported Earnings • Jan 23
Full year 2025 earnings released: EPS: ₫1.95 (vs ₫1,316 in FY 2024) Full year 2025 results: EPS: ₫1.95. Revenue: ₫3.65t (down 11% from FY 2024). Net income: ₫27.5b (up 48% from FY 2024). Profit margin: 0.8% (up from 0.5% in FY 2024). The increase in margin was driven by lower expenses. Board Change • Jan 12
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Nhu Thi Tran was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Annonce • Dec 26
Materials-Petroleum Joint Stock Company, Annual General Meeting, Apr 17, 2026 Materials-Petroleum Joint Stock Company, Annual General Meeting, Apr 17, 2026. Location: comeco building, no. 549 dien bien phu, ban co ward, hcmc Vietnam Reported Earnings • Oct 22
Third quarter 2025 earnings released: EPS: ₫424 (vs ₫476 in 3Q 2024) Third quarter 2025 results: EPS: ₫424 (down from ₫476 in 3Q 2024). Revenue: ₫926.2b (down 5.6% from 3Q 2024). Net income: ₫5.99b (down 11% from 3Q 2024). Profit margin: 0.6% (down from 0.7% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Sep 17
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to ₫39,400. The fair value is estimated to be ₫31,955, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Earnings per share has grown by 45%. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₫36,850, the stock trades at a trailing P/E ratio of 32.5x. Average trailing P/E is 21x in the Specialty Retail industry in Vietnam. Total returns to shareholders of 4.9% over the past three years. Reported Earnings • Jul 23
Second quarter 2025 earnings released: EPS: ₫243 (vs ₫342 in 2Q 2024) Second quarter 2025 results: EPS: ₫243 (down from ₫342 in 2Q 2024). Revenue: ₫865.0b (down 20% from 2Q 2024). Net income: ₫3.43b (down 29% from 2Q 2024). Profit margin: 0.4% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫36,600, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 22x in the Specialty Retail industry in Vietnam. Total loss to shareholders of 37% over the past three years. Reported Earnings • Apr 22
First quarter 2025 earnings released: EPS: ₫183 (vs ₫265 in 1Q 2024) First quarter 2025 results: EPS: ₫183 (down from ₫265 in 1Q 2024). Revenue: ₫905.1b (down 17% from 1Q 2024). Net income: ₫2.58b (down 31% from 1Q 2024). Profit margin: 0.3% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. New Risk • Apr 18
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 114% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.0% 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 Share price has been highly volatile over the past 3 months (8.6% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₫423.6b market cap, or US$16.5m). Reported Earnings • Mar 16
Full year 2024 earnings released: EPS: ₫1,316 (vs ₫1,852 in FY 2023) Full year 2024 results: EPS: ₫1,316 (down from ₫1,852 in FY 2023). Revenue: ₫4.11t (down 5.4% from FY 2023). Net income: ₫18.6b (down 29% from FY 2023). Profit margin: 0.5% (down from 0.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 10
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 17 March 2025. Payment date: 04 April 2025. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 4.9%. Lower than top quartile of Vietnamese dividend payers (7.6%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫33,000, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 16x in the Specialty Retail industry in Vietnam. Total loss to shareholders of 16% over the past three years. Declared Dividend • Feb 22
Dividend of ₫1,500 announced Dividend of ₫1,500 is the same as last year. Ex-date: 17th March 2025 Payment date: 4th April 2025 Dividend yield will be 4.8%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is covered by earnings (61% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 32% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.0% EPS decline seen over the last 5 years. Annonce • Feb 22
Materials-Petroleum Joint Stock Company, Annual General Meeting, Apr 18, 2025 Materials-Petroleum Joint Stock Company, Annual General Meeting, Apr 18, 2025. Location: comeco building, no. 549 dien bien phu, ward 3, district 3, hcmc., Vietnam Annonce • Feb 21
Materials-Petroleum Joint Stock Company announces Annual dividend, payable on April 04, 2025 Materials-Petroleum Joint Stock Company announced Annual dividend of VND 1500.0000 per share payable on April 04, 2025, ex-date on March 17, 2025 and record date on March 18, 2025. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫33,250, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 17x in the Specialty Retail industry in Asia. Total loss to shareholders of 16% over the past three years. Annonce • Oct 22
Materials-Petroleum Joint Stock Company Appoints Mrs. Tran Thi Hong Linh as Person in Charge of Corporate Governance, Secretary Materials-Petroleum Joint Stock Company announced the appointment of Mrs. Tran Thi Hong Linh as person in charge of corporate governance, secretary, Effective date of October 17, 2024. Reported Earnings • Oct 22
Third quarter 2024 earnings released: EPS: ₫476 (vs ₫991 in 3Q 2023) Third quarter 2024 results: EPS: ₫476 (down from ₫991 in 3Q 2023). Revenue: ₫981.0b (down 13% from 3Q 2023). Net income: ₫6.73b (down 52% from 3Q 2023). Profit margin: 0.7% (down from 1.2% 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 25% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 23
Second quarter 2024 earnings released: EPS: ₫342 (vs ₫43.00 in 2Q 2023) Second quarter 2024 results: EPS: ₫342 (up from ₫43.00 in 2Q 2023). Revenue: ₫1.08t (up 6.5% from 2Q 2023). Net income: ₫4.82b (up ₫4.21b from 2Q 2023). Profit margin: 0.4% (up from 0.1% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: ₫265 (vs ₫28.88 in 1Q 2023) First quarter 2024 results: EPS: ₫265 (up from ₫28.88 in 1Q 2023). Revenue: ₫1.08t (up 2.8% from 1Q 2023). Net income: ₫3.75b (up ₫3.34b from 1Q 2023). Profit margin: 0.3% (up from 0% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 11
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 18 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Vietnamese dividend payers (8.5%). Higher than average of industry peers (1.0%). Reported Earnings • Jan 20
Full year 2023 earnings released: EPS: ₫2,440 (vs ₫54.42 in FY 2022) Full year 2023 results: EPS: ₫2,440 (up from ₫54.42 in FY 2022). Revenue: ₫4.34t (down 9.8% from FY 2022). Net income: ₫34.5b (up ₫33.7b from FY 2022). Profit margin: 0.8% (up from 0% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₫34,550, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 17x in the Specialty Retail industry in Asia. Total loss to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₫34,550, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 17x in the Specialty Retail industry in Asia. Total loss to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₫33,700, the stock trades at a trailing P/E ratio of 39.8x. Average trailing P/E is 16x in the Specialty Retail industry in Asia. Total loss to shareholders of 20% over the past three years. Reported Earnings • Oct 22
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: ₫1.13t (down 11% from 3Q 2022). Net income: ₫14.0b (up ₫21.8b from 3Q 2022). Profit margin: 1.2% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 20
Second quarter 2023 earnings released: EPS: ₫43.00 (vs ₫817 in 2Q 2022) Second quarter 2023 results: EPS: ₫43.00 (down from ₫817 in 2Q 2022). Revenue: ₫1.02t (down 26% from 2Q 2022). Net income: ₫611.7m (down 95% from 2Q 2022). Profit margin: 0.1% (down from 0.8% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 02
Upcoming dividend of ₫1,500 per share at 4.7% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 26 May 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.7%. Lower than top quartile of Vietnamese dividend payers (9.0%). Higher than average of industry peers (1.3%). Reported Earnings • Apr 20
First quarter 2023 earnings released: EPS: ₫29.00 (vs ₫3.70 in 1Q 2022) First quarter 2023 results: EPS: ₫29.00 (up from ₫3.70 in 1Q 2022). Revenue: ₫1.05t (flat on 1Q 2022). Net income: ₫407.7m (up ₫355.4m from 1Q 2022). Profit margin: 0% (in line with 1Q 2022). 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 11% per year, which means it has not declined as severely as earnings. Board Change • Feb 27
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. No independent directors (8 non-independent directors). Head of Supervisory Board Hanh Ngo was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Annonce • Feb 16
Materials-Petroleum Joint Stock Company, Annual General Meeting, Apr 14, 2023 Materials-Petroleum Joint Stock Company, Annual General Meeting, Apr 14, 2023. Location: Floor 10, Comeco building, 549 Dien Bien Phu street, ward 9, district 3, HCM city HCM City Vietnam Reported Earnings • Jan 23
Full year 2022 earnings released: EPS: ₫91.00 (vs ₫2,810 in FY 2021) Full year 2022 results: EPS: ₫91.00 (down from ₫2,810 in FY 2021). Revenue: ₫4.82t (up 81% from FY 2021). Net income: ₫1.28b (down 97% from FY 2021). Profit margin: 0% (down from 1.5% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% 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. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 21% share price gain to ₫33,950, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 13x in the Specialty Retail industry in Asia. Total loss to shareholders of 25% over the past three years. Upcoming Dividend • Dec 09
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 16 December 2022. Payment date: 06 January 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.8%. Lower than top quartile of Vietnamese dividend payers (9.2%). Higher than average of industry peers (1.2%). Annonce • Dec 08
Materials-Petroleum Joint Stock Company Approves Cash Dividend for the Year 2022, Payable on January 06, 2023 The Board of Directors of Materials Petroleum Joint Stock Company approved to pay for the 2022 dividend in cash: Record date: December 19, 2022; Dividend pay-out ratio: 15%/par value (VND 1,500/share). Payment date: January 06, 2023. Board Change • Nov 16
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. No independent directors (8 non-independent directors). Head of Supervisory Board Hanh Ngo was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 23
Third quarter 2022 earnings released: ₫551 loss per share (vs ₫235 loss in 3Q 2021) Third quarter 2022 results: ₫551 loss per share (further deteriorated from ₫235 loss in 3Q 2021). Revenue: ₫1.26t (up 353% from 3Q 2021). Net loss: ₫7.77b (loss widened 134% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 13% per year. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫33,700, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 13x in the Specialty Retail industry in Asia. Total loss to shareholders of 22% over the past three years. Annonce • Sep 21
Materials-Petroleum Joint Stock Company Names Mr. Nguyen Ngoc Linh as Head of the Branch Materials-Petroleum Joint Stock Company has set up a branch as follows: Name of branch: Branch No.46 - Materials Petroleum Joint Stock Company. Address: 344A Tan Hoa Dong street, area 12, Binh Tri Dong ward, Binh Tan district, HCM city. Head of the branch: Mr. Nguyen Ngoc Linh. Reported Earnings • Jul 23
Second quarter 2022 earnings released: EPS: ₫816 (vs ₫848 in 2Q 2021) Second quarter 2022 results: EPS: ₫816 (down from ₫848 in 2Q 2021). Revenue: ₫1.37t (up 75% from 2Q 2021). Net income: ₫11.5b (down 3.7% from 2Q 2021). Profit margin: 0.8% (down from 1.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫59,700, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 14x in the Specialty Retail industry in Asia. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improved over the past week After last week's 18% share price gain to ₫63,400, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 14x in the Specialty Retail industry in Asia. Total returns to shareholders of 34% over the past three years. Annonce • May 14
Materials-Petroleum Joint Stock Company Appoints Ngo Phuong Hanh as Head of the Board of Supervisors Materials-Petroleum Joint Stock Company announced the appointment of Ms. Ngo Phuong Hanh as Head of the Board of Supervisors, effective from April 29, 2022. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: ₫4.12 (vs ₫928 in 1Q 2021) First quarter 2022 results: EPS: ₫4.12 (down from ₫928 in 1Q 2021). Revenue: ₫1.06t (up 33% from 1Q 2021). Net income: ₫58.1m (down 100% from 1Q 2021). Profit margin: 0% (down from 1.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 5 highly experienced directors. No independent directors (8 non-independent directors). Non-Executive Director Nguy Quoc was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₫52,200, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 15x in the Specialty Retail industry in Asia. Total returns to shareholders of 3.5% 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 18% share price gain to ₫61,000, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 14x in the Specialty Retail industry in Asia. Total returns to shareholders of 23% over the past three years. Upcoming Dividend • Mar 11
Upcoming dividend of ₫2,000 per share Eligible shareholders must have bought the stock before 18 March 2022. Payment date: 07 April 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Vietnamese dividend payers (5.8%). Higher than average of industry peers (0.5%). Reported Earnings • Mar 09
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫2,810 (up from ₫1,911 in FY 2020). Revenue: ₫2.66t (down 8.3% from FY 2020). Net income: ₫39.7b (up 47% from FY 2020). Profit margin: 1.5% (up from 0.9% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 18% share price gain to ₫52,000, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 14x in the Specialty Retail industry in Asia. Total returns to shareholders of 1.8% over the past three years. Reported Earnings • Jan 23
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫2,846 (up from ₫2,587 in FY 2020). Revenue: ₫2.66t (down 8.3% from FY 2020). Net income: ₫40.2b (up 10.0% from FY 2020). Profit margin: 1.5% (up from 1.3% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 22
Third quarter 2021 earnings released: ₫235 loss per share (vs ₫1,032 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₫278.8b (down 61% from 3Q 2020). Net loss: ₫3.32b (down 123% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 23
Second quarter 2021 earnings released: EPS ₫848 (vs ₫57.04 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫780.9b (up 41% from 2Q 2020). Net income: ₫12.0b (up ₫11.2b from 2Q 2020). Profit margin: 1.5% (up from 0.1% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS ₫928 (vs ₫433 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ₫793.2b (down 7.6% from 1Q 2020). Net income: ₫13.1b (up 113% from 1Q 2020). Profit margin: 1.7% (up from 0.7% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 22
New 90-day low: ₫43,800 The company is down 10.0% from its price of ₫48,850 on 23 October 2020. The Vietnamese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 14% over the same period. Is New 90 Day High Low • Jan 06
New 90-day low: ₫43,900 The company is down 8.0% from its price of ₫47,900 on 08 October 2020. The Vietnamese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: ₫44,000 The company is down 7.0% from its price of ₫47,100 on 11 September 2020. The Vietnamese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 11
New 90-day high: ₫55,000 The company is up 12% from its price of ₫49,000 on 13 August 2020. The Vietnamese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 30% over the same period. Is New 90 Day High Low • Oct 22
New 90-day high: ₫52,500 The company is up 22% from its price of ₫43,000 on 24 July 2020. The Vietnamese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 25% over the same period. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total profits of ₫41.3b, down 9.2% from the prior year. Total revenue was ₫3.23t over the last 12 months, down 23% from the prior year.