Upcoming Dividend • Jun 22
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 07 October 2026. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 5.2%. Lower than top quartile of Vietnamese dividend payers (8.2%). Higher than average of industry peers (4.1%). お知らせ • Feb 13
Becamex Infrastructure Development Joint Stock Company, Annual General Meeting, Apr 09, 2026 Becamex Infrastructure Development Joint Stock Company, Annual General Meeting, Apr 09, 2026, at 08:00 SE Asia Standard Time. Location: becamex hotel -new city, no. 2b, hung vuong street, binh duong ward, ho chi minh city Vietnam New Risk • Dec 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 67% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Oct 12
Third quarter 2025 earnings released: EPS: ₫640 (vs ₫242 in 3Q 2024) Third quarter 2025 results: EPS: ₫640 (up from ₫242 in 3Q 2024). Revenue: ₫671.6b (up 255% from 3Q 2024). Net income: ₫241.8b (up 197% from 3Q 2024). Profit margin: 36% (down from 43% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₫13,400, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 18x in the Construction industry in Vietnam. Total returns to shareholders of 28% over the past three years. New Risk • Sep 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.1% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change). Declared Dividend • Sep 05
Dividend reduced to ₫500 Dividend of ₫500 is 29% lower than last year. Ex-date: 16th September 2025 Payment date: 7th October 2025 Dividend yield will be 3.4%, which is lower than the industry average of 5.1%. Sustainability & Growth Dividend is covered by earnings (88% 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 2.5% to shift the payout ratio to a potentially unsustainable range, which is less than the 8.2% EPS decline seen over the last 5 years. お知らせ • Sep 05
Becamex Infrastructure Development Joint Stock Company has filed a Follow-on Equity Offering in the amount of VND 2.518323 trillion. Becamex Infrastructure Development Joint Stock Company has filed a Follow-on Equity Offering in the amount of VND 2.518323 trillion.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 251,832,256
Price\Range: VND 10000
Transaction Features: Rights Offering Reported Earnings • Jul 17
Second quarter 2025 earnings released: EPS: ₫318 (vs ₫199 in 2Q 2024) Second quarter 2025 results: EPS: ₫318 (up from ₫199 in 2Q 2024). Revenue: ₫174.1b (down 52% from 2Q 2024). Net income: ₫127.0b (up 75% from 2Q 2024). Profit margin: 73% (up from 20% in 2Q 2024). The increase in margin was driven by lower 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 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 22
First quarter 2025 earnings released: EPS: ₫111 (vs ₫138 in 1Q 2024) First quarter 2025 results: EPS: ₫111. Revenue: ₫149.6b (down 7.7% from 1Q 2024). Net income: ₫45.5b (flat on 1Q 2024). Profit margin: 30% (up from 28% in 1Q 2024). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₫11,300, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Construction industry in Vietnam. Total loss to shareholders of 36% over the past three years. お知らせ • Feb 17
Becamex Infrastructure Development Joint Stock Company, Annual General Meeting, Apr 09, 2025 Becamex Infrastructure Development Joint Stock Company, Annual General Meeting, Apr 09, 2025, at 08:00 SE Asia Standard Time. Location: no. 2b, hung vuong street, hoa phu ward, binh duong province., thu dau mot Vietnam Reported Earnings • Jan 28
Full year 2024 earnings released: EPS: ₫1,002 (vs ₫1,458 in FY 2023) Full year 2024 results: EPS: ₫1,002 (down from ₫1,458 in FY 2023). Revenue: ₫1.02t (down 32% from FY 2023). Net income: ₫355.5b (down 3.2% from FY 2023). Profit margin: 35% (up from 25% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 17% per year. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Minor Risk Paying a dividend despite having no free cash flows. New Risk • Nov 05
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 1.1% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (50% increase in shares outstanding). お知らせ • Sep 20
Becamex Infrastructure Development Joint Stock Company Announces Cash Dividend for the Year 2023, Payable on December 26, 2024 Becamex Infrastructure Development Joint Stock Company announced cash dividend of VND 700 per share for the year 2023. Ex-right date: September 26, 2024, Record date: September 27, 2024 and Payment time: December 26, 2024. Reported Earnings • Jul 28
Second quarter 2024 earnings released: EPS: ₫195 (vs ₫466 in 2Q 2023) Second quarter 2024 results: EPS: ₫195 (down from ₫466 in 2Q 2023). Revenue: ₫388.6b (down 45% from 2Q 2023). Net income: ₫73.5b (down 47% from 2Q 2023). Profit margin: 19% (in line with 2Q 2023). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in Vietnam. 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 11% per year, which means it has not declined as severely as earnings. New Risk • Apr 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 50% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (209% cash payout ratio). Share price has been volatile over the past 3 months (5.7% average weekly change). Shareholders have been diluted in the past year (50% increase in shares outstanding). Buy Or Sell Opportunity • Mar 14
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to ₫16,550. The fair value is estimated to be ₫13,204, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 16%. お知らせ • Feb 29
Becamex Infrastructure Development Joint Stock Company Approves Cash Dividend, Payable on April 04, 2024 The Board of Directors of Becamex Infrastructure Development Joint Stock Company approved the dividend payment: Record date: March 20, 2024, The payment for the 3rd phase of 2023 cash dividend, Dividend pay-out ratio: 11%, Payment date: April 04, 2024. お知らせ • Feb 28
Becamex Infrastructure Development Joint Stock Company, Annual General Meeting, Apr 19, 2024 Becamex Infrastructure Development Joint Stock Company, Annual General Meeting, Apr 19, 2024. Location: Becamex hotel, 2B Hung Vuong street, Hoa Phu ward, Thu Du Mot city, Binh Duong Province Vietnam Reported Earnings • Jan 28
Full year 2023 earnings released: EPS: ₫1,489 (vs ₫1,914 in FY 2022) Full year 2023 results: EPS: ₫1,489 (down from ₫1,914 in FY 2022). Revenue: ₫1.49t (down 24% from FY 2022). Net income: ₫395.0b (down 18% from FY 2022). Profit margin: 26% (up from 25% 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 16% 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. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫11,500, the stock trades at a trailing P/E ratio of 8.4x. Average forward P/E is 11x in the Construction industry in Vietnam. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫12,442 per share. Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: ₫261 (vs ₫453 in 3Q 2022) Third quarter 2023 results: EPS: ₫261 (down from ₫453 in 3Q 2022). Revenue: ₫214.1b (down 59% from 3Q 2022). Net income: ₫69.3b (down 39% from 3Q 2022). Profit margin: 32% (up from 22% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Jul 22
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₫705.9b (flat on 2Q 2022). Net income: ₫142.0b (down 24% from 2Q 2022). Profit margin: 20% (down from 26% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. New Risk • Jun 23
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 160% Dividend yield: 8.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Upcoming Dividend • Jun 22
Upcoming dividend of ₫1,400 per share Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 06 October 2023. The company last paid an ordinary dividend in January 2013. The average dividend yield among industry peers is 5.6%. お知らせ • Jun 17
Becamex Infrastructure Development Joint Stock Company Announces Dividend for 2022, Payable on October 06, 2023 Becamex Infrastructure Development Joint Stock Company approved to pay for the 2022 dividend in cash as Record date is June 30, 2023, Payment date is October 06, 2023 and Dividend pay-out ratio: 14%/par value (VND1,400/share). Reported Earnings • Apr 25
First quarter 2023 earnings released: EPS: ₫460 (vs ₫661 in 1Q 2022) First quarter 2023 results: EPS: ₫460 (down from ₫661 in 1Q 2022). Revenue: ₫336.7b (down 36% from 1Q 2022). Net income: ₫107.6b (down 41% from 1Q 2022). Profit margin: 32% (down from 35% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫12,500, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 15x in the Construction industry in Vietnam. Total returns to shareholders of 26% over the past three years. お知らせ • Feb 18
Becamex Infrastructure Development Joint Stock Company, Annual General Meeting, Apr 07, 2023 Becamex Infrastructure Development Joint Stock Company, Annual General Meeting, Apr 07, 2023. Location: Becamex hotel, 2B Hung Vuong street, Hoa Phu ward, Thu Dau Mot city Binh Duong Province Vietnam Reported Earnings • Jan 20
Full year 2022 earnings released: EPS: ₫2,320 (vs ₫2,729 in FY 2021) Full year 2022 results: EPS: ₫2,320 (down from ₫2,729 in FY 2021). Revenue: ₫1.97t (down 24% from FY 2021). Net income: ₫515.8b (down 12% from FY 2021). Profit margin: 26% (up from 23% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat. お知らせ • Dec 29
Becamex Infrastructure Development Joint Stock Company (HOSE:IJC) agreed to acquire Becamex International General Hospital Joint Stock Company. Becamex Infrastructure Development Joint Stock Company (HOSE:IJC) agreed to acquire Becamex International General Hospital Joint Stock Company on December 26, 2022. The deal has been approved by the acquirer board of directors. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 18% share price gain to ₫10,900, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 10x in the Construction industry in Vietnam. Total loss to shareholders of 12% over the past three years. 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. 1 experienced director. 10 highly experienced directors. No independent directors (8 non-independent directors). Members of Supervisory Board Phuong Phan 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. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫11,200, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 11x in the Construction industry in Vietnam. Total loss to shareholders of 9.5% over the past three years. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: ₫526 (vs ₫357 in 3Q 2021) Third quarter 2022 results: EPS: ₫526 (up from ₫357 in 3Q 2021). Revenue: ₫517.0b (up 42% from 3Q 2021). Net income: ₫114.2b (up 49% from 3Q 2021). Profit margin: 22% (up from 21% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. お知らせ • Oct 19
Becamex Infrastructure Development Joint Stock Company Provides Consolidated and Parent Company Earnings Guidance for the Year 2022 Becamex Infrastructure Development Joint Stock Company provided Consolidated and Parent company earnings guidance for the year 2022. For the period, for Consolidated the company estimated Total revenue of VND 2,397 billion and Profit after tax of VND 704 billion. For the period, for Parent company the company estimated Total revenue of VND 2,124 billion and Profit after tax of VND 680 billion. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫13,100, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 14x in the Construction industry in Vietnam. Total returns to shareholders of 7.6% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫17,600, the stock trades at a trailing P/E ratio of 7.9x. Average forward P/E is 9x in the Construction industry in Vietnam. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improved over the past week After last week's 15% share price gain to ₫23,900, the stock trades at a trailing P/E ratio of 10.8x. Average forward P/E is 10x in the Construction industry in Vietnam. Total returns to shareholders of 91% over the past three years. Reported Earnings • Jul 23
Second quarter 2022 earnings released: EPS: ₫838 (vs ₫682 in 2Q 2021) Second quarter 2022 results: EPS: ₫838 (up from ₫682 in 2Q 2021). Revenue: ₫710.0b (up 27% from 2Q 2021). Net income: ₫191.0b (up 9.7% from 2Q 2021). Profit margin: 27% (down from 31% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 100%, compared to a 54% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 20% per year. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 18% share price gain to ₫21,650, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 10x in the Construction industry in Vietnam. Total returns to shareholders of 171% over the past three years. お知らせ • May 19
Becamex Infrastructure Development Joint Stock Company Announces Appointment of Board of Supervisors On May 16, the Board of Directors of Becamex Infrastructure Development Joint Stock Company appointed Ms. Phan Hong Phuong and Ms. Bui Phuong Hong as Members of the Board of Supervisors. お知らせ • May 13
Becamex Infrastructure Development Joint Stock Company Appoints Vu Phi Hung as Director of Legal Department Cum Assistant of Chairman of the Board of Director Becamex Infrastructure Development Joint Stock Company announced the appointment of Mr. Vu Phi Hung as Director of Legal Department cum Assistant of Chairman of the Board of Directors. Date of decision is May 5, 2022. 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. 1 experienced director. 10 highly experienced directors. No independent directors (8 non-independent directors). Deputy Chief Executive Officer and Director Vo Thi Trang 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 18% share price decline to ₫22,350, the stock trades at a trailing P/E ratio of 8.3x. Average forward P/E is 12x in the Construction industry in Vietnam. Total returns to shareholders of 165% over the past three years. Reported Earnings • Jan 23
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: ₫2,858 (up from ₫2,543 in FY 2020). Revenue: ₫2.60t (up 22% from FY 2020). Net income: ₫620.5b (up 78% from FY 2020). Profit margin: 24% (up from 16% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 36%, compared to a 45% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. お知らせ • Dec 23
Becamex Infrastructure Development Joint Stock Company Provides Consolidated and Parent Company Earnings Guidance for the Year 2022 Becamex Infrastructure Development Joint Stock Company provided consolidated and parent company earnings guidance for the year 2022. For the year, on consolidated basis the company expected VND 2.829 billion. Profit after tax of VND 685 billion. For the year, for parent company, the company expected VND 2,590 billion. Profit after tax of VND 679 billion. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫29,150, the stock trades at a trailing P/E ratio of 9.3x. Average forward P/E is 10x in the Construction industry in Vietnam. Total returns to shareholders of 365% over the past three years. Reported Earnings • Oct 21
Third quarter 2021 earnings released: EPS ₫357 (vs ₫446 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₫363.3b (up 22% from 3Q 2020). Net income: ₫82.7b (up 35% from 3Q 2020). Profit margin: 23% (up from 21% in 3Q 2020). 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 increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 22
Second quarter 2021 earnings released: EPS ₫771 (vs ₫321 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫562.3b (up 176% from 2Q 2020). Net income: ₫177.0b (up 295% from 2Q 2020). Profit margin: 32% (up from 22% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 07
Upcoming dividend of ₫1,500 per share Eligible shareholders must have bought the stock before 14 July 2021. Payment date: 06 September 2021. Trailing yield: 5.3%. Lower than top quartile of Vietnamese dividend payers (7.6%). Higher than average of industry peers (3.1%). Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₫28,500, the stock trades at a trailing P/E ratio of 8.6x. Average forward P/E is 12x in the Construction industry in Vietnam. Total returns to shareholders of 307% over the past three years. Reported Earnings • Apr 21
First quarter 2021 earnings released: EPS ₫2,849 (vs ₫751 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₫1.42t (up 5.9% from 1Q 2020). Net income: ₫292.0b (up 147% from 1Q 2020). Profit margin: 21% (up from 8.8% in 1Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫26,300, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 16x in the Construction industry in Vietnam. Total returns to shareholders of 232% over the past three years. Reported Earnings • Mar 29
Full year 2020 earnings released: EPS ₫2,543 (vs ₫2,008 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ₫2.14t (up 34% from FY 2019). Net income: ₫348.7b (up 27% from FY 2019). Profit margin: 16% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 16% share price gain to ₫28,050, the stock is trading at a trailing P/E ratio of 11.1x, up from the previous P/E ratio of 9.5x. This compares to an average P/E of 15x in the Construction industry in Vietnam. Total returns to shareholders over the past three years are 309%. Is New 90 Day High Low • Feb 22
New 90-day high: ₫28,050 The company is up 106% from its price of ₫13,600 on 24 November 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 41% over the same period. Reported Earnings • Feb 03
Full year 2020 earnings released: EPS ₫2,535 (vs ₫1,868 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫2.14t (up 34% from FY 2019). Net income: ₫368.7b (up 44% from FY 2019). Profit margin: 17% (up from 16% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₫21,450, the stock is trading at a trailing P/E ratio of 12.9x, down from the previous P/E ratio of 16.1x. This compares to an average P/E of 14x in the Construction industry in Vietnam. Total returns to shareholders over the past three years are 209%. Is New 90 Day High Low • Jan 15
New 90-day high: ₫27,500 The company is up 119% from its price of ₫12,550 on 16 October 2020. The Vietnamese market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 42% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: ₫24,300 The company is up 99% from its price of ₫12,200 on 30 September 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 29% over the same period. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 20% share price gain to ₫17,350, the stock is trading at a trailing P/E ratio of 10.4x, up from the previous P/E ratio of 8.7x. This compares to an average P/E of 11x in the Construction industry in Vietnam. Total returns to shareholders over the past three years are 137%. Is New 90 Day High Low • Dec 04
New 90-day high: ₫14,450 The company is up 25% from its price of ₫11,600 on 04 September 2020. The Vietnamese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: ₫13,800 The company is up 24% from its price of ₫11,100 on 19 August 2020. The Vietnamese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 18% over the same period.