GELEX Group（GEX）株式概要GELEX Group Joint Stock Company は、主にベトナムで電気機器の製造・販売を行っている。 詳細GEX ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長3/6過去の実績2/6財務の健全性4/6配当金1/6報酬収益は年間29.68%増加すると予測されています リスク分析負債は営業キャッシュフローで十分にカバーされていない VN市場と比較した過去 3 か月間の株価の変動すべてのリスクチェックを見るGEX Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value₫Current Price₫30.50k14.3% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-18b77t2016201920222025202620282031Revenue ₫77.3tEarnings ₫2.7tAdvancedSet Fair ValueView all narrativesGELEX Group Joint Stock Company 競合他社Sam HoldingsSymbol: HOSE:SAMMarket cap: ₫2.4tRang Dong Light Source & Vacuum FlaskSymbol: HOSE:RALMarket cap: ₫2.0tTaya Viet Nam Electric Wire and CableSymbol: HOSE:TYAMarket cap: ₫512.4bGelex ElectricitySymbol: HOSE:GEEMarket cap: ₫57.8t価格と性能株価の高値、安値、推移の概要GELEX Group過去の株価現在の株価₫30,500.0052週高値₫45,310.3452週安値₫21,517.24ベータ1.011ヶ月の変化-10.43%3ヶ月変化24.93%1年変化17.93%3年間の変化138.13%5年間の変化130.07%IPOからの変化132.06%最新ニュースValuation Update With 7 Day Price Move • May 07Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₫31,400, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 26x in the Electrical industry in Asia. Total returns to shareholders of 242% over the past three years.New Risk • May 05New major risk - Financial positionThe 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). Share price has been highly volatile over the past 3 months (8.2% average weekly change).New Risk • Mar 11New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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). High level of non-cash earnings (28% accrual ratio).Valuation Update With 7 Day Price Move • Mar 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₫31,800, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 190% over the past three years.Reported Earnings • Feb 02Full year 2025 earnings released: EPS: ₫1,635 (vs ₫1,819 in FY 2024)Full year 2025 results: EPS: ₫1,635 (down from ₫1,819 in FY 2024). Revenue: ₫40t (up 17% from FY 2024). Net income: ₫1.48t (down 9.6% from FY 2024). Profit margin: 3.7% (down from 4.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.お知らせ • Jan 23GELEX Group Joint Stock Company, Annual General Meeting, Apr 01, 2026GELEX Group Joint Stock Company, Annual General Meeting, Apr 01, 2026. Location: fairmont hanoi- 10 tran nguyen han and no. 27-29, ly thai to street, hoan kiem ward, hanoi Vietnam最新情報をもっと見るRecent updatesValuation Update With 7 Day Price Move • May 07Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₫31,400, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 26x in the Electrical industry in Asia. Total returns to shareholders of 242% over the past three years.New Risk • May 05New major risk - Financial positionThe 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). Share price has been highly volatile over the past 3 months (8.2% average weekly change).New Risk • Mar 11New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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). High level of non-cash earnings (28% accrual ratio).Valuation Update With 7 Day Price Move • Mar 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₫31,800, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 190% over the past three years.Reported Earnings • Feb 02Full year 2025 earnings released: EPS: ₫1,635 (vs ₫1,819 in FY 2024)Full year 2025 results: EPS: ₫1,635 (down from ₫1,819 in FY 2024). Revenue: ₫40t (up 17% from FY 2024). Net income: ₫1.48t (down 9.6% from FY 2024). Profit margin: 3.7% (down from 4.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.お知らせ • Jan 23GELEX Group Joint Stock Company, Annual General Meeting, Apr 01, 2026GELEX Group Joint Stock Company, Annual General Meeting, Apr 01, 2026. Location: fairmont hanoi- 10 tran nguyen han and no. 27-29, ly thai to street, hoan kiem ward, hanoi VietnamValuation Update With 7 Day Price Move • Dec 22Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₫44,450, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Electrical industry in Asia. Total returns to shareholders of 274% over the past three years.New Risk • Nov 14New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.1% average weekly change). Minor Risk Large one-off items impacting financial results.New Risk • Nov 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results.Reported Earnings • Oct 30Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫9.84t (up 13% from 3Q 2024). Net income: ₫621.9b (up ₫523.1b from 3Q 2024). Profit margin: 6.3% (up from 1.1% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia.Valuation Update With 7 Day Price Move • Oct 27Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₫48,000, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 289% over the past three years.Valuation Update With 7 Day Price Move • Oct 16Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₫65,400, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 402% over the past three years.Upcoming Dividend • Sep 03Upcoming dividend of ₫800 per shareEligible shareholders must have bought the stock before 10 September 2025. Payment date: 10 October 2025. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Vietnamese dividend payers (7.4%). Lower than average of industry peers (1.9%).Major Estimate Revision • Aug 23Consensus EPS estimates increase by 26%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from ₫37t to ₫38t. EPS estimate increased from ₫1,192 to ₫1,498 per share. Net income forecast to shrink 11% next year vs 37% growth forecast for Electrical industry in Vietnam . Consensus price target up from ₫31,000 to ₫44,250. Share price fell 4.8% to ₫53,900 over the past week.Price Target Changed • Aug 22Price target increased by 43% to ₫44,250Up from ₫31,005, the current price target is an average from 2 analysts. New target price is 18% below last closing price of ₫53,900. Stock is up 162% over the past year. The company is forecast to post earnings per share of ₫1,498 for next year compared to ₫1,819 last year.Reported Earnings • Jul 29Second quarter 2025 earnings released: EPS: ₫751 (vs ₫949 in 2Q 2024)Second quarter 2025 results: EPS: ₫751 (down from ₫949 in 2Q 2024). Revenue: ₫10t (up 23% from 2Q 2024). Net income: ₫665.4b (down 22% from 2Q 2024). Profit margin: 6.6% (down from 10% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jul 24Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₫50,000, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 19x in the Electrical industry in Asia. Total returns to shareholders of 139% over the past three years.New Risk • May 26New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 4.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results.New Risk • May 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 7.1% 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: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results.Reported Earnings • Apr 26First quarter 2025 earnings released: EPS: ₫272 (vs ₫127 in 1Q 2024)First quarter 2025 results: EPS: ₫272 (up from ₫127 in 1Q 2024). Revenue: ₫7.92t (up 19% from 1Q 2024). Net income: ₫233.7b (up 115% from 1Q 2024). Profit margin: 3.0% (up from 1.6% in 1Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Upcoming Dividend • Apr 18Upcoming dividend of ₫500 per shareEligible shareholders must have bought the stock before 25 April 2025. Payment date: 22 May 2025. The company last paid an ordinary dividend in August 2018. The average dividend yield among industry peers is 12%.Major Estimate Revision • Apr 15Consensus EPS estimates increase by 32%, revenue downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₫37t to ₫35t. EPS estimate rose from ₫848 to ₫1,123. Net income forecast to shrink 40% next year vs 36% growth forecast for Electrical industry in Vietnam . Consensus price target up from ₫23,600 to ₫27,100. Share price rose 15% to ₫25,150 over the past week.Price Target Changed • Apr 14Price target increased by 11% to ₫27,100Up from ₫24,400, the current price target is provided by 1 analyst. New target price is 11% above last closing price of ₫24,400. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₫1,123 for next year compared to ₫1,910 last year.Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to ₫20,450, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 16x in the Electrical industry in Asia. Total loss to shareholders of 42% over the past three years.お知らせ • Feb 19GELEX Group Joint Stock Company, Annual General Meeting, Mar 27, 2025GELEX Group Joint Stock Company, Annual General Meeting, Mar 27, 2025. Location: no. 44, ly thuong kiet street, tran hung dao ward, hoan kiem district, ha noi city, VietnamNew Risk • Nov 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 138% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.Reported Earnings • Oct 29Third quarter 2024 earnings released: EPS: ₫116 (vs ₫143 in 3Q 2023)Third quarter 2024 results: EPS: ₫116 (down from ₫143 in 3Q 2023). Revenue: ₫8.71t (up 16% from 3Q 2023). Net income: ₫98.9b (down 19% from 3Q 2023). Profit margin: 1.1% (down from 1.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 20% 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.Price Target Changed • Aug 30Price target decreased by 11% to ₫24,700Down from ₫27,600, the current price target is provided by 1 analyst. New target price is 17% above last closing price of ₫21,150. Stock is down 14% over the past year. The company is forecast to post earnings per share of ₫1,343 for next year compared to ₫388 last year.New Risk • Aug 04New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 138% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.Reported Earnings • Aug 02Second quarter 2024 earnings released: EPS: ₫998 (vs ₫377 in 2Q 2023)Second quarter 2024 results: EPS: ₫998 (up from ₫377 in 2Q 2023). Revenue: ₫8.25t (up 3.2% from 2Q 2023). Net income: ₫849.5b (up 165% from 2Q 2023). Profit margin: 10% (up from 4.0% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.New Risk • May 16New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Large one-off items impacting financial results.Reported Earnings • May 02First quarter 2024 earnings released: EPS: ₫127 (vs ₫108 loss in 1Q 2023)First quarter 2024 results: EPS: ₫127 (up from ₫108 loss in 1Q 2023). Revenue: ₫6.66t (up 3.9% from 1Q 2023). Net income: ₫108.5b (up ₫200.8b from 1Q 2023). Profit margin: 1.6% (up from net loss in 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 58% 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 • Apr 20Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₫19,700, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Electrical industry in Asia. Total returns to shareholders of 5.0% over the past three years.お知らせ • Mar 10GELEX Group Joint Stock Company, Annual General Meeting, Mar 28, 2024GELEX Group Joint Stock Company, Annual General Meeting, Mar 28, 2024, at 01:00 Coordinated Universal Time. Location: No.44B Ly Thuong Kiet street, Tran Hung Dao ward, Hoan Kiem district, Hanoi VietnamReported Earnings • Feb 02Full year 2023 earnings released: EPS: ₫389 (vs ₫433 in FY 2022)Full year 2023 results: EPS: ₫389 (down from ₫433 in FY 2022). Revenue: ₫30t (down 6.5% from FY 2022). Net income: ₫331.0b (down 10% from FY 2022). Profit margin: 1.1% (in line with FY 2022). Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.お知らせ • Jan 02GELEX Group Joint Stock Company Announces Executive ChangesGELEX Group Joint Stock Company announced the appointment of Mr. Le Ba Tho as member of the BOD; the appointment of Mr. Nguyen Hoang Long as Deputy Chief Financial and Investment Officer; the appointment of Mr. Nguyen Trong Trung as Deputy Chief Electric Operating Officer and the resignation of Mr. Le Ba Tho as Deputy Chief Officer, Effective from January 01, 2024.Major Estimate Revision • Nov 22Consensus EPS estimates increase by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ₫30t to ₫30t. EPS estimate increased from ₫489 to ₫557 per share. Net income forecast to grow 163% next year vs 47% growth forecast for Electrical industry in Vietnam. Consensus price target down from ₫24,600 to ₫24,100. Share price rose 4.3% to ₫23,150 over the past week.Valuation Update With 7 Day Price Move • Oct 31Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to ₫17,300, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Electrical industry in Asia. Total returns to shareholders of 26% over the past three years.Valuation Update With 7 Day Price Move • Sep 26Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to ₫19,200, the stock trades at a trailing P/E ratio of 46x. Average trailing P/E is 35x in the Electrical industry in Vietnam. Total returns to shareholders of 14% over the past three years.New Risk • Jul 28New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 8.8% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.1% net profit margin).Reported Earnings • Jul 28Second quarter 2023 earnings released: EPS: ₫377 (vs ₫15.34 in 2Q 2022)Second quarter 2023 results: EPS: ₫377 (up from ₫15.34 in 2Q 2022). Revenue: ₫8.00t (down 12% from 2Q 2022). Net income: ₫321.1b (up ₫308.1b from 2Q 2022). Profit margin: 4.0% (up from 0.1% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.お知らせ • Jul 25GELEX Group Joint Stock Company Appoints Do Xuan Thang as Head of the Representative OfficeGELEX Group Joint Stock Company has set up a representative office as follows: Name of representative office: Representative office in HCM city - GELEX Group Joint Stock Company. Head of the representative office: Mr. Do Xuan Thang.Reported Earnings • May 03First quarter 2023 earnings released: ₫108 loss per share (vs ₫315 profit in 1Q 2022)First quarter 2023 results: ₫108 loss per share (down from ₫315 profit in 1Q 2022). Revenue: ₫6.41t (down 26% from 1Q 2022). Net loss: ₫92.3b (down 134% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Feb 27Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₫11,500, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 27x in the Electrical industry in Vietnam. Total loss to shareholders of 11% over the past three years.Reported Earnings • Feb 01Full year 2022 earnings released: EPS: ₫446 (vs ₫1,501 in FY 2021)Full year 2022 results: EPS: ₫446 (down from ₫1,501 in FY 2021). Revenue: ₫32t (up 12% from FY 2021). Net income: ₫379.7b (down 63% from FY 2021). Profit margin: 1.2% (down from 3.6% 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 12% 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.Valuation Update With 7 Day Price Move • Dec 22Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₫13,350, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 17x in the Electrical industry in Vietnam. Total loss to shareholders of 3.7% over the past three years.Valuation Update With 7 Day Price Move • Nov 29Investor sentiment improved over the past weekAfter last week's 16% share price gain to ₫14,700, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 16x in the Electrical industry in Vietnam. Total returns to shareholders of 2.8% over the past three years.Board Change • Nov 16No independent directorsFollowing 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. Deputy CEO & Director Tho Le 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.Valuation Update With 7 Day Price Move • Nov 08Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₫11,300, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 13x in the Electrical industry in Vietnam. Total loss to shareholders of 24% over the past three years.Valuation Update With 7 Day Price Move • Oct 24Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ₫12,300, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 15x in the Electrical industry in Vietnam. Total loss to shareholders of 17% over the past three years.Valuation Update With 7 Day Price Move • Oct 07Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ₫15,300, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 19x in the Electrical industry in Vietnam. Total loss to shareholders of 2.3% over the past three years.Reported Earnings • Jul 31Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: ₫9.07t (up 4.2% from 2Q 2021). Net income: ₫13.1b (down 96% from 2Q 2021). Profit margin: 0.1% (down from 3.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 8% per year.お知らせ • Jul 08GELEX Group Joint Stock Company Announces Cash Dividend for the Fiscal Year 2021, Payable on July 28, 2022GELEX Group Joint Stock Company announced cash dividend of exercise ratio: 5.0% (500 dongs/share) for the fiscal year 2021. Ex-right date: July 13, 2022. Record date: July 14, 2022 and payment date: July 28, 2022.Upcoming Dividend • Jul 06Upcoming dividend of ₫500 per shareEligible shareholders must have bought the stock before 13 July 2022. Payment date: 28 July 2022. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Vietnamese dividend payers (8.0%). Lower than average of industry peers (4.3%).Valuation Update With 7 Day Price Move • Jun 17Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ₫19,550, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 14x in the Electrical industry in Vietnam. Total returns to shareholders of 43% over the past three years.Upcoming Dividend • Jun 01Upcoming dividend of ₫500 per shareEligible shareholders must have bought the stock before 08 June 2022. Payment date: 29 June 2022. The company last paid an ordinary dividend in August 2018. The average dividend yield among industry peers is 7.4%.お知らせ • May 28GELEX Group Joint Stock Company Recommends Cash DividendGELEX Group Joint Stock Company announced resolution to approve cash dividend of VND 500.0 per share at the 2022 annual general meeting.お知らせ • May 19GELEX Group Joint Stock Company Announces Board ChangesGELEX Group Joint Stock Company announced the appointment of Mr. Le Ba Tho as Member of the BOD. Effective date is 12 May 2022. And the resignation of Mr. Vo Anh Linh as Member of the BOD. Effective date is 12 May 2022.Reported Earnings • May 02First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: ₫315. Revenue: ₫8.65t (up 96% from 1Q 2021). Net income: ₫268.1b (up 6.9% from 1Q 2021). Profit margin: 3.1% (down from 5.7% in 1Q 2021). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 21%.Board Change • Apr 27No independent directorsFollowing 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. Chairman Cuong Nguyen 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.Valuation Update With 7 Day Price Move • Apr 11Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ₫34,050, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Electrical industry in Asia. Total returns to shareholders of 137% over the past three years.Reported Earnings • Mar 28Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: ₫1,501 (up from ₫1,425 in FY 2020). Revenue: ₫29t (up 59% from FY 2020). Net income: ₫1.04t (up 33% from FY 2020). Profit margin: 3.6% (down from 4.3% in FY 2020). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Over the next year, revenue is forecast to grow 24%, compared to a 48% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Jan 28Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ₫1,226 (down from ₫1,543 in FY 2020). Revenue: ₫29t (up 59% from FY 2020). Net income: ₫1.04t (up 30% from FY 2020). Profit margin: 3.7% (down from 4.5% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 24%, compared to a 45% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jan 05Investor sentiment improved over the past weekAfter last week's 17% share price gain to ₫43,450, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 221% over the past three years.Valuation Update With 7 Day Price Move • Dec 08Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ₫37,000, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 129% over the past three years.Price Target Changed • Nov 23Price target increased to ₫40,000Up from ₫26,000, the current price target is provided by 1 analyst. New target price is 9.4% below last closing price of ₫44,150. Stock is up 108% over the past year. The company is forecast to post earnings per share of ₫1,330 for next year compared to ₫1,682 last year.Valuation Update With 7 Day Price Move • Nov 02Investor sentiment improved over the past weekAfter last week's 17% share price gain to ₫29,550, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 23x in the Electrical industry in Asia. Total returns to shareholders of 65% over the past three years.Reported Earnings • Aug 03Second quarter 2021 earnings released: EPS ₫593 (vs ₫627 in 2Q 2020)The company reported a decent second quarter result with improved revenues, although earnings and profit margins were weaker. Second quarter 2021 results: Revenue: ₫8.70t (up 128% from 2Q 2020). Net income: ₫287.9b (down 4.1% from 2Q 2020). Profit margin: 3.3% (down from 7.9% 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 2% per year whereas the company’s share price has fallen by 4% per year.Major Estimate Revision • Jul 02Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ₫19t to ₫30t. EPS estimate unchanged at ₫1,404. Net income forecast to grow 30% next year vs 34% growth forecast for Electrical industry in Vietnam. Consensus price target down from ₫34,615 to ₫30,000. Share price was steady at ₫22,100 over the past week.Valuation Update With 7 Day Price Move • Jun 03Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ₫22,250, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Electrical industry in Asia. Total loss to shareholders of 7.0% over the past three years.Major Estimate Revision • Jun 01Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 EPS estimate increased from ₫1,146 to ₫1,393. Revenue forecast steady at ₫19t. Net income forecast to grow 30% next year vs 33% growth forecast for Electrical industry in Vietnam. Consensus price target up from ₫25,000 to ₫30,000. Share price was steady at ₫26,250 over the past week.Price Target Changed • May 31Price target increased to ₫30,000Up from ₫25,300, the current price target is provided by 1 analyst. New target price is 13% above last closing price of ₫26,550. Stock is up 51% over the past year.Valuation Update With 7 Day Price Move • Apr 13Investor sentiment improved over the past weekAfter last week's 16% share price gain to ₫28,250, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 19x in the Electrical industry in Asia. Total returns to shareholders of 3.6% over the past three years.Major Estimate Revision • Mar 09Analysts update estimatesThe 2021 consensus revenue estimate increased from ₫17t to ₫19t. Earnings per share estimate was lowered from ₫1,749 to ₫1,146 for the same period. Net income is expected to grow by 4.7% next year compared to 46% growth forecast for the Electrical industry in Vietnam. The consensus price target was lowered from ₫25,300 to ₫25,000. Share price is up 1.1% to ₫23,000 over the past week.Reported Earnings • Feb 06Full year 2020 earnings released: EPS ₫1.66 (vs ₫1,326 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫18t (up 17% from FY 2019). Net income: ₫790.8b (up 25% from FY 2019). Profit margin: 4.4% (up from 4.1% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Analyst Estimate Surprise Post Earnings • Feb 06Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is expected to shrink by 4.2% compared to a 33% growth forecast for the Electrical industry in Vietnam.Is New 90 Day High Low • Feb 01New 90-day low: ₫18,850The company is down 2.0% from its price of ₫19,200 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 Electrical industry, which is up 7.0% over the same period.Valuation Update With 7 Day Price Move • Feb 01Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₫18,850, the stock is trading at a trailing P/E ratio of 12.5x, down from the previous P/E ratio of 15x. This compares to an average P/E of 13x in the Electrical industry in Vietnam. Total return to shareholders over the past three years is a loss of 5.5%.Is New 90 Day High Low • Jan 11New 90-day high: ₫24,800The company is up 9.0% from its price of ₫22,800 on 13 October 2020. The Vietnamese market is up 24% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electrical industry, which is up 5.0% over the same period.お知らせ • Jan 08Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) acquired 16.23% stake in Nam Mu Hydropower Joint Stock Company (HNX:HJS).Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) acquired 16.23% stake in Nam Mu Hydropower Joint Stock Company (HNX:HJS) on December 31, 2020. Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) completed the acquisition of 16.23% stake in Nam Mu Hydropower Joint Stock Company (HNX:HJS) on December 31, 2020.お知らせ • Aug 06Indo Trans Logistics Corporation proposed to acquire remaining 58.2% stake in South Logistics Joint Stock Company (HOSE:STG) from Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) and others.Indo Trans Logistics Corporation proposed to acquire remaining 58.2% stake in South Logistics Joint Stock Company (HOSE:STG) from Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) and others on March 4, 2020. Under the proposal, Sotrans has approved ITL to increase stake without making a mandatory public offering in line with Vietnamese regulations. On March 31, 2020, General Meeting of Shareholders of South Logistics Joint Stock Company unanimously approved to allow Indo Trans Logistics Corporation to increase the ownership ratio without any public tender offer. Symphony has been working closely with ITL and a number of International banks and the company recently secured $70 million in financing from an IFC led consortium to complete the acquisition of SoTrans. The acquisition is expected to close in the third quarter of 2020.お知らせ • Jul 17Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) made an offer to acquire 21.18% stake in Viglacera Corporation (HOSE:VGC).Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) made an offer to acquire 21.18% stake in Viglacera Corporation (HOSE:VGC) on June 30, 2020. Under the terms of transaction Vietnam Electrical Equipment Joint Stock Corporation will acquire 95 million shares and increase its shareholdings in Viglacera Corporation to 46.15% stake. GELEX and its member company GELEX Electric Equipment JSC before the acquisition holds 11.92 million shares representing 24.96% stake. Post acquisition GELEX and its member company GELEX Electric Equipment JSC will hold 206.9 million shares. The transaction is subject to State Securities Commission approval. The transaction has been approve by Vietnam Electrical Equipment Joint Stock Corporation on June 30, 2020 and unanimously approved by the Viglacera Corporation board on July 7,2020.株主還元GEXVN ElectricalVN 市場7D-2.1%-3.0%3.2%1Y17.9%36.1%36.2%株主還元を見る業界別リターン: GEX過去 1 年間で36.1 % の収益を上げたVN Electrical業界を下回りました。リターン対市場: GEXは、過去 1 年間で36.2 % のリターンを上げたVN市場を下回りました。価格変動Is GEX's price volatile compared to industry and market?GEX volatilityGEX Average Weekly Movement6.6%Electrical Industry Average Movement4.5%Market Average Movement4.1%10% most volatile stocks in VN Market7.0%10% least volatile stocks in VN Market2.1%安定した株価: GEXの株価は、 VN市場と比較して過去 3 か月間で変動しています。時間の経過による変動: GEXの weekly volatility ( 7% ) は過去 1 年間安定していますが、依然としてVNの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト19909,208n/awww.gelex.vnGELEXグループ・ジョイント・ストック・カンパニーは、主にベトナムで電気機器の製造・販売を行っている。電気機器、工業団地・不動産、建設資材、エネルギー・クリーンウォーター、その他の分野で事業を展開している。また、電力ケーブル、変圧器、モーター、電気測定器なども提供している。さらに、不動産開発、社会住宅や労働者向け住宅への投資、水力発電、太陽光発電、屋上太陽光発電、風力発電のエネルギープロジェクトへの投資と運営も行っている。さらに、省エネガラス、衛生設備、建築用ガラス、セラミックタイル、アドービ材料からなる建築資材を提供し、水の生産と供給も行っている。同社は以前、Vietnam Electrical Equipment Joint Stock Corporationとして知られていた。GELEX Group Joint Stock Company は1990年に設立され、ベトナムのハノイに本社を置く。もっと見るGELEX Group Joint Stock Company 基礎のまとめGELEX Group の収益と売上を時価総額と比較するとどうか。GEX 基礎統計学時価総額₫39.65t収益（TTM）₫1.49t売上高(TTM)₫42.32t26.7xPER（株価収益率0.9xP/SレシオGEX は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計GEX 損益計算書（TTM）収益₫42.32t売上原価₫33.50t売上総利益₫8.82tその他の費用₫7.33t収益₫1.49t直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）1.14kグロス・マージン20.84%純利益率3.53%有利子負債／自己資本比率104.0%GEX の長期的なパフォーマンスは？過去の実績と比較を見る配当金1.8%現在の配当利回り56%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/24 23:18終値2026/06/24 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋GELEX Group Joint Stock Company 2 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。4 アナリスト機関null nullBIDV Securities Joint Stock CompanyDan NguyenBIDV Securities Joint Stock CompanyShuo Han TanHSBC1 その他のアナリストを表示
Valuation Update With 7 Day Price Move • May 07Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₫31,400, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 26x in the Electrical industry in Asia. Total returns to shareholders of 242% over the past three years.
New Risk • May 05New major risk - Financial positionThe 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). Share price has been highly volatile over the past 3 months (8.2% average weekly change).
New Risk • Mar 11New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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). High level of non-cash earnings (28% accrual ratio).
Valuation Update With 7 Day Price Move • Mar 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₫31,800, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 190% over the past three years.
Reported Earnings • Feb 02Full year 2025 earnings released: EPS: ₫1,635 (vs ₫1,819 in FY 2024)Full year 2025 results: EPS: ₫1,635 (down from ₫1,819 in FY 2024). Revenue: ₫40t (up 17% from FY 2024). Net income: ₫1.48t (down 9.6% from FY 2024). Profit margin: 3.7% (down from 4.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.
お知らせ • Jan 23GELEX Group Joint Stock Company, Annual General Meeting, Apr 01, 2026GELEX Group Joint Stock Company, Annual General Meeting, Apr 01, 2026. Location: fairmont hanoi- 10 tran nguyen han and no. 27-29, ly thai to street, hoan kiem ward, hanoi Vietnam
Valuation Update With 7 Day Price Move • May 07Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₫31,400, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 26x in the Electrical industry in Asia. Total returns to shareholders of 242% over the past three years.
New Risk • May 05New major risk - Financial positionThe 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). Share price has been highly volatile over the past 3 months (8.2% average weekly change).
New Risk • Mar 11New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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). High level of non-cash earnings (28% accrual ratio).
Valuation Update With 7 Day Price Move • Mar 10Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₫31,800, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 190% over the past three years.
Reported Earnings • Feb 02Full year 2025 earnings released: EPS: ₫1,635 (vs ₫1,819 in FY 2024)Full year 2025 results: EPS: ₫1,635 (down from ₫1,819 in FY 2024). Revenue: ₫40t (up 17% from FY 2024). Net income: ₫1.48t (down 9.6% from FY 2024). Profit margin: 3.7% (down from 4.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.
お知らせ • Jan 23GELEX Group Joint Stock Company, Annual General Meeting, Apr 01, 2026GELEX Group Joint Stock Company, Annual General Meeting, Apr 01, 2026. Location: fairmont hanoi- 10 tran nguyen han and no. 27-29, ly thai to street, hoan kiem ward, hanoi Vietnam
Valuation Update With 7 Day Price Move • Dec 22Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₫44,450, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Electrical industry in Asia. Total returns to shareholders of 274% over the past three years.
New Risk • Nov 14New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.1% average weekly change). Minor Risk Large one-off items impacting financial results.
New Risk • Nov 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results.
Reported Earnings • Oct 30Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫9.84t (up 13% from 3Q 2024). Net income: ₫621.9b (up ₫523.1b from 3Q 2024). Profit margin: 6.3% (up from 1.1% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia.
Valuation Update With 7 Day Price Move • Oct 27Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₫48,000, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 289% over the past three years.
Valuation Update With 7 Day Price Move • Oct 16Investor sentiment improves as stock rises 18%After last week's 18% share price gain to ₫65,400, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 402% over the past three years.
Upcoming Dividend • Sep 03Upcoming dividend of ₫800 per shareEligible shareholders must have bought the stock before 10 September 2025. Payment date: 10 October 2025. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Vietnamese dividend payers (7.4%). Lower than average of industry peers (1.9%).
Major Estimate Revision • Aug 23Consensus EPS estimates increase by 26%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from ₫37t to ₫38t. EPS estimate increased from ₫1,192 to ₫1,498 per share. Net income forecast to shrink 11% next year vs 37% growth forecast for Electrical industry in Vietnam . Consensus price target up from ₫31,000 to ₫44,250. Share price fell 4.8% to ₫53,900 over the past week.
Price Target Changed • Aug 22Price target increased by 43% to ₫44,250Up from ₫31,005, the current price target is an average from 2 analysts. New target price is 18% below last closing price of ₫53,900. Stock is up 162% over the past year. The company is forecast to post earnings per share of ₫1,498 for next year compared to ₫1,819 last year.
Reported Earnings • Jul 29Second quarter 2025 earnings released: EPS: ₫751 (vs ₫949 in 2Q 2024)Second quarter 2025 results: EPS: ₫751 (down from ₫949 in 2Q 2024). Revenue: ₫10t (up 23% from 2Q 2024). Net income: ₫665.4b (down 22% from 2Q 2024). Profit margin: 6.6% (down from 10% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jul 24Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₫50,000, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 19x in the Electrical industry in Asia. Total returns to shareholders of 139% over the past three years.
New Risk • May 26New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 4.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results.
New Risk • May 21New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 7.1% 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: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results.
Reported Earnings • Apr 26First quarter 2025 earnings released: EPS: ₫272 (vs ₫127 in 1Q 2024)First quarter 2025 results: EPS: ₫272 (up from ₫127 in 1Q 2024). Revenue: ₫7.92t (up 19% from 1Q 2024). Net income: ₫233.7b (up 115% from 1Q 2024). Profit margin: 3.0% (up from 1.6% in 1Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Apr 18Upcoming dividend of ₫500 per shareEligible shareholders must have bought the stock before 25 April 2025. Payment date: 22 May 2025. The company last paid an ordinary dividend in August 2018. The average dividend yield among industry peers is 12%.
Major Estimate Revision • Apr 15Consensus EPS estimates increase by 32%, revenue downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₫37t to ₫35t. EPS estimate rose from ₫848 to ₫1,123. Net income forecast to shrink 40% next year vs 36% growth forecast for Electrical industry in Vietnam . Consensus price target up from ₫23,600 to ₫27,100. Share price rose 15% to ₫25,150 over the past week.
Price Target Changed • Apr 14Price target increased by 11% to ₫27,100Up from ₫24,400, the current price target is provided by 1 analyst. New target price is 11% above last closing price of ₫24,400. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₫1,123 for next year compared to ₫1,910 last year.
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to ₫20,450, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 16x in the Electrical industry in Asia. Total loss to shareholders of 42% over the past three years.
お知らせ • Feb 19GELEX Group Joint Stock Company, Annual General Meeting, Mar 27, 2025GELEX Group Joint Stock Company, Annual General Meeting, Mar 27, 2025. Location: no. 44, ly thuong kiet street, tran hung dao ward, hoan kiem district, ha noi city, Vietnam
New Risk • Nov 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 138% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.
Reported Earnings • Oct 29Third quarter 2024 earnings released: EPS: ₫116 (vs ₫143 in 3Q 2023)Third quarter 2024 results: EPS: ₫116 (down from ₫143 in 3Q 2023). Revenue: ₫8.71t (up 16% from 3Q 2023). Net income: ₫98.9b (down 19% from 3Q 2023). Profit margin: 1.1% (down from 1.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 20% 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.
Price Target Changed • Aug 30Price target decreased by 11% to ₫24,700Down from ₫27,600, the current price target is provided by 1 analyst. New target price is 17% above last closing price of ₫21,150. Stock is down 14% over the past year. The company is forecast to post earnings per share of ₫1,343 for next year compared to ₫388 last year.
New Risk • Aug 04New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 138% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.
Reported Earnings • Aug 02Second quarter 2024 earnings released: EPS: ₫998 (vs ₫377 in 2Q 2023)Second quarter 2024 results: EPS: ₫998 (up from ₫377 in 2Q 2023). Revenue: ₫8.25t (up 3.2% from 2Q 2023). Net income: ₫849.5b (up 165% from 2Q 2023). Profit margin: 10% (up from 4.0% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
New Risk • May 16New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Large one-off items impacting financial results.
Reported Earnings • May 02First quarter 2024 earnings released: EPS: ₫127 (vs ₫108 loss in 1Q 2023)First quarter 2024 results: EPS: ₫127 (up from ₫108 loss in 1Q 2023). Revenue: ₫6.66t (up 3.9% from 1Q 2023). Net income: ₫108.5b (up ₫200.8b from 1Q 2023). Profit margin: 1.6% (up from net loss in 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 58% 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 • Apr 20Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₫19,700, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Electrical industry in Asia. Total returns to shareholders of 5.0% over the past three years.
お知らせ • Mar 10GELEX Group Joint Stock Company, Annual General Meeting, Mar 28, 2024GELEX Group Joint Stock Company, Annual General Meeting, Mar 28, 2024, at 01:00 Coordinated Universal Time. Location: No.44B Ly Thuong Kiet street, Tran Hung Dao ward, Hoan Kiem district, Hanoi Vietnam
Reported Earnings • Feb 02Full year 2023 earnings released: EPS: ₫389 (vs ₫433 in FY 2022)Full year 2023 results: EPS: ₫389 (down from ₫433 in FY 2022). Revenue: ₫30t (down 6.5% from FY 2022). Net income: ₫331.0b (down 10% from FY 2022). Profit margin: 1.1% (in line with FY 2022). Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings.
お知らせ • Jan 02GELEX Group Joint Stock Company Announces Executive ChangesGELEX Group Joint Stock Company announced the appointment of Mr. Le Ba Tho as member of the BOD; the appointment of Mr. Nguyen Hoang Long as Deputy Chief Financial and Investment Officer; the appointment of Mr. Nguyen Trong Trung as Deputy Chief Electric Operating Officer and the resignation of Mr. Le Ba Tho as Deputy Chief Officer, Effective from January 01, 2024.
Major Estimate Revision • Nov 22Consensus EPS estimates increase by 14%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ₫30t to ₫30t. EPS estimate increased from ₫489 to ₫557 per share. Net income forecast to grow 163% next year vs 47% growth forecast for Electrical industry in Vietnam. Consensus price target down from ₫24,600 to ₫24,100. Share price rose 4.3% to ₫23,150 over the past week.
Valuation Update With 7 Day Price Move • Oct 31Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to ₫17,300, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Electrical industry in Asia. Total returns to shareholders of 26% over the past three years.
Valuation Update With 7 Day Price Move • Sep 26Investor sentiment deteriorates as stock falls 21%After last week's 21% share price decline to ₫19,200, the stock trades at a trailing P/E ratio of 46x. Average trailing P/E is 35x in the Electrical industry in Vietnam. Total returns to shareholders of 14% over the past three years.
New Risk • Jul 28New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 8.8% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.1% net profit margin).
Reported Earnings • Jul 28Second quarter 2023 earnings released: EPS: ₫377 (vs ₫15.34 in 2Q 2022)Second quarter 2023 results: EPS: ₫377 (up from ₫15.34 in 2Q 2022). Revenue: ₫8.00t (down 12% from 2Q 2022). Net income: ₫321.1b (up ₫308.1b from 2Q 2022). Profit margin: 4.0% (up from 0.1% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
お知らせ • Jul 25GELEX Group Joint Stock Company Appoints Do Xuan Thang as Head of the Representative OfficeGELEX Group Joint Stock Company has set up a representative office as follows: Name of representative office: Representative office in HCM city - GELEX Group Joint Stock Company. Head of the representative office: Mr. Do Xuan Thang.
Reported Earnings • May 03First quarter 2023 earnings released: ₫108 loss per share (vs ₫315 profit in 1Q 2022)First quarter 2023 results: ₫108 loss per share (down from ₫315 profit in 1Q 2022). Revenue: ₫6.41t (down 26% from 1Q 2022). Net loss: ₫92.3b (down 134% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Feb 27Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₫11,500, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 27x in the Electrical industry in Vietnam. Total loss to shareholders of 11% over the past three years.
Reported Earnings • Feb 01Full year 2022 earnings released: EPS: ₫446 (vs ₫1,501 in FY 2021)Full year 2022 results: EPS: ₫446 (down from ₫1,501 in FY 2021). Revenue: ₫32t (up 12% from FY 2021). Net income: ₫379.7b (down 63% from FY 2021). Profit margin: 1.2% (down from 3.6% 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 12% 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.
Valuation Update With 7 Day Price Move • Dec 22Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₫13,350, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 17x in the Electrical industry in Vietnam. Total loss to shareholders of 3.7% over the past three years.
Valuation Update With 7 Day Price Move • Nov 29Investor sentiment improved over the past weekAfter last week's 16% share price gain to ₫14,700, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 16x in the Electrical industry in Vietnam. Total returns to shareholders of 2.8% over the past three years.
Board Change • Nov 16No independent directorsFollowing 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. Deputy CEO & Director Tho Le 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.
Valuation Update With 7 Day Price Move • Nov 08Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₫11,300, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 13x in the Electrical industry in Vietnam. Total loss to shareholders of 24% over the past three years.
Valuation Update With 7 Day Price Move • Oct 24Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ₫12,300, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 15x in the Electrical industry in Vietnam. Total loss to shareholders of 17% over the past three years.
Valuation Update With 7 Day Price Move • Oct 07Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ₫15,300, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 19x in the Electrical industry in Vietnam. Total loss to shareholders of 2.3% over the past three years.
Reported Earnings • Jul 31Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: ₫9.07t (up 4.2% from 2Q 2021). Net income: ₫13.1b (down 96% from 2Q 2021). Profit margin: 0.1% (down from 3.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 8% per year.
お知らせ • Jul 08GELEX Group Joint Stock Company Announces Cash Dividend for the Fiscal Year 2021, Payable on July 28, 2022GELEX Group Joint Stock Company announced cash dividend of exercise ratio: 5.0% (500 dongs/share) for the fiscal year 2021. Ex-right date: July 13, 2022. Record date: July 14, 2022 and payment date: July 28, 2022.
Upcoming Dividend • Jul 06Upcoming dividend of ₫500 per shareEligible shareholders must have bought the stock before 13 July 2022. Payment date: 28 July 2022. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Vietnamese dividend payers (8.0%). Lower than average of industry peers (4.3%).
Valuation Update With 7 Day Price Move • Jun 17Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ₫19,550, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 14x in the Electrical industry in Vietnam. Total returns to shareholders of 43% over the past three years.
Upcoming Dividend • Jun 01Upcoming dividend of ₫500 per shareEligible shareholders must have bought the stock before 08 June 2022. Payment date: 29 June 2022. The company last paid an ordinary dividend in August 2018. The average dividend yield among industry peers is 7.4%.
お知らせ • May 28GELEX Group Joint Stock Company Recommends Cash DividendGELEX Group Joint Stock Company announced resolution to approve cash dividend of VND 500.0 per share at the 2022 annual general meeting.
お知らせ • May 19GELEX Group Joint Stock Company Announces Board ChangesGELEX Group Joint Stock Company announced the appointment of Mr. Le Ba Tho as Member of the BOD. Effective date is 12 May 2022. And the resignation of Mr. Vo Anh Linh as Member of the BOD. Effective date is 12 May 2022.
Reported Earnings • May 02First quarter 2022 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2022 results: EPS: ₫315. Revenue: ₫8.65t (up 96% from 1Q 2021). Net income: ₫268.1b (up 6.9% from 1Q 2021). Profit margin: 3.1% (down from 5.7% in 1Q 2021). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 21%.
Board Change • Apr 27No independent directorsFollowing 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. Chairman Cuong Nguyen 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.
Valuation Update With 7 Day Price Move • Apr 11Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ₫34,050, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Electrical industry in Asia. Total returns to shareholders of 137% over the past three years.
Reported Earnings • Mar 28Full year 2021 earnings: EPS and revenues exceed analyst expectationsFull year 2021 results: EPS: ₫1,501 (up from ₫1,425 in FY 2020). Revenue: ₫29t (up 59% from FY 2020). Net income: ₫1.04t (up 33% from FY 2020). Profit margin: 3.6% (down from 4.3% in FY 2020). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Over the next year, revenue is forecast to grow 24%, compared to a 48% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Jan 28Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: ₫1,226 (down from ₫1,543 in FY 2020). Revenue: ₫29t (up 59% from FY 2020). Net income: ₫1.04t (up 30% from FY 2020). Profit margin: 3.7% (down from 4.5% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 24%, compared to a 45% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jan 05Investor sentiment improved over the past weekAfter last week's 17% share price gain to ₫43,450, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 221% over the past three years.
Valuation Update With 7 Day Price Move • Dec 08Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to ₫37,000, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 24x in the Electrical industry in Asia. Total returns to shareholders of 129% over the past three years.
Price Target Changed • Nov 23Price target increased to ₫40,000Up from ₫26,000, the current price target is provided by 1 analyst. New target price is 9.4% below last closing price of ₫44,150. Stock is up 108% over the past year. The company is forecast to post earnings per share of ₫1,330 for next year compared to ₫1,682 last year.
Valuation Update With 7 Day Price Move • Nov 02Investor sentiment improved over the past weekAfter last week's 17% share price gain to ₫29,550, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 23x in the Electrical industry in Asia. Total returns to shareholders of 65% over the past three years.
Reported Earnings • Aug 03Second quarter 2021 earnings released: EPS ₫593 (vs ₫627 in 2Q 2020)The company reported a decent second quarter result with improved revenues, although earnings and profit margins were weaker. Second quarter 2021 results: Revenue: ₫8.70t (up 128% from 2Q 2020). Net income: ₫287.9b (down 4.1% from 2Q 2020). Profit margin: 3.3% (down from 7.9% 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 2% per year whereas the company’s share price has fallen by 4% per year.
Major Estimate Revision • Jul 02Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ₫19t to ₫30t. EPS estimate unchanged at ₫1,404. Net income forecast to grow 30% next year vs 34% growth forecast for Electrical industry in Vietnam. Consensus price target down from ₫34,615 to ₫30,000. Share price was steady at ₫22,100 over the past week.
Valuation Update With 7 Day Price Move • Jun 03Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to ₫22,250, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Electrical industry in Asia. Total loss to shareholders of 7.0% over the past three years.
Major Estimate Revision • Jun 01Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 EPS estimate increased from ₫1,146 to ₫1,393. Revenue forecast steady at ₫19t. Net income forecast to grow 30% next year vs 33% growth forecast for Electrical industry in Vietnam. Consensus price target up from ₫25,000 to ₫30,000. Share price was steady at ₫26,250 over the past week.
Price Target Changed • May 31Price target increased to ₫30,000Up from ₫25,300, the current price target is provided by 1 analyst. New target price is 13% above last closing price of ₫26,550. Stock is up 51% over the past year.
Valuation Update With 7 Day Price Move • Apr 13Investor sentiment improved over the past weekAfter last week's 16% share price gain to ₫28,250, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 19x in the Electrical industry in Asia. Total returns to shareholders of 3.6% over the past three years.
Major Estimate Revision • Mar 09Analysts update estimatesThe 2021 consensus revenue estimate increased from ₫17t to ₫19t. Earnings per share estimate was lowered from ₫1,749 to ₫1,146 for the same period. Net income is expected to grow by 4.7% next year compared to 46% growth forecast for the Electrical industry in Vietnam. The consensus price target was lowered from ₫25,300 to ₫25,000. Share price is up 1.1% to ₫23,000 over the past week.
Reported Earnings • Feb 06Full year 2020 earnings released: EPS ₫1.66 (vs ₫1,326 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫18t (up 17% from FY 2019). Net income: ₫790.8b (up 25% from FY 2019). Profit margin: 4.4% (up from 4.1% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Analyst Estimate Surprise Post Earnings • Feb 06Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is expected to shrink by 4.2% compared to a 33% growth forecast for the Electrical industry in Vietnam.
Is New 90 Day High Low • Feb 01New 90-day low: ₫18,850The company is down 2.0% from its price of ₫19,200 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 Electrical industry, which is up 7.0% over the same period.
Valuation Update With 7 Day Price Move • Feb 01Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₫18,850, the stock is trading at a trailing P/E ratio of 12.5x, down from the previous P/E ratio of 15x. This compares to an average P/E of 13x in the Electrical industry in Vietnam. Total return to shareholders over the past three years is a loss of 5.5%.
Is New 90 Day High Low • Jan 11New 90-day high: ₫24,800The company is up 9.0% from its price of ₫22,800 on 13 October 2020. The Vietnamese market is up 24% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electrical industry, which is up 5.0% over the same period.
お知らせ • Jan 08Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) acquired 16.23% stake in Nam Mu Hydropower Joint Stock Company (HNX:HJS).Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) acquired 16.23% stake in Nam Mu Hydropower Joint Stock Company (HNX:HJS) on December 31, 2020. Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) completed the acquisition of 16.23% stake in Nam Mu Hydropower Joint Stock Company (HNX:HJS) on December 31, 2020.
お知らせ • Aug 06Indo Trans Logistics Corporation proposed to acquire remaining 58.2% stake in South Logistics Joint Stock Company (HOSE:STG) from Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) and others.Indo Trans Logistics Corporation proposed to acquire remaining 58.2% stake in South Logistics Joint Stock Company (HOSE:STG) from Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) and others on March 4, 2020. Under the proposal, Sotrans has approved ITL to increase stake without making a mandatory public offering in line with Vietnamese regulations. On March 31, 2020, General Meeting of Shareholders of South Logistics Joint Stock Company unanimously approved to allow Indo Trans Logistics Corporation to increase the ownership ratio without any public tender offer. Symphony has been working closely with ITL and a number of International banks and the company recently secured $70 million in financing from an IFC led consortium to complete the acquisition of SoTrans. The acquisition is expected to close in the third quarter of 2020.
お知らせ • Jul 17Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) made an offer to acquire 21.18% stake in Viglacera Corporation (HOSE:VGC).Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) made an offer to acquire 21.18% stake in Viglacera Corporation (HOSE:VGC) on June 30, 2020. Under the terms of transaction Vietnam Electrical Equipment Joint Stock Corporation will acquire 95 million shares and increase its shareholdings in Viglacera Corporation to 46.15% stake. GELEX and its member company GELEX Electric Equipment JSC before the acquisition holds 11.92 million shares representing 24.96% stake. Post acquisition GELEX and its member company GELEX Electric Equipment JSC will hold 206.9 million shares. The transaction is subject to State Securities Commission approval. The transaction has been approve by Vietnam Electrical Equipment Joint Stock Corporation on June 30, 2020 and unanimously approved by the Viglacera Corporation board on July 7,2020.
