View ValuationDuc Thanh Wood Processing 将来の成長Future 基準チェック /06現在、 Duc Thanh Wood Processingの成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Consumer Durables 収益成長17.4%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジNone最終更新日n/a今後の成長に関する最新情報Price Target Changed • Oct 11Price target decreased by 9.0% to ₫33,000Down from ₫36,277, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ₫27,900. Stock is down 17% over the past year. The company is forecast to post earnings per share of ₫3,610 for next year compared to ₫3,151 last year.Price Target Changed • Mar 30Price target decreased by 8.8% to ₫36,127Down from ₫39,627, the current price target is an average from 2 analysts. New target price is 27% above last closing price of ₫28,500. Stock is down 44% over the past year. The company is forecast to post earnings per share of ₫3,718 for next year compared to ₫3,181 last year.Major Estimate Revision • Nov 11Consensus revenue estimates fall by 11%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫475.0b to ₫423.5b. EPS estimate fell from ₫4,307 to ₫4,080 per share. Net income forecast to grow 27% next year vs 29% growth forecast for Consumer Durables industry in Vietnam. Consensus price target of ₫57,213 unchanged from last update. Share price fell 2.1% to ₫33,200 over the past week.Major Estimate Revision • Aug 30Consensus revenue estimates fall by 12%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫538.5b to ₫475.0b. EPS estimate fell from ₫5,052 to ₫4,307 per share. Net income forecast to grow 44% next year vs 35% growth forecast for Consumer Durables industry in Vietnam. Consensus price target down from ₫64,563 to ₫57,213. Share price was steady at ₫40,450 over the past week.Price Target Changed • Aug 29Price target decreased to ₫57,213Down from ₫64,713, the current price target is an average from 2 analysts. New target price is 41% above last closing price of ₫40,450. Stock is down 22% over the past year. The company is forecast to post earnings per share of ₫5,052 for next year compared to ₫3,037 last year.Major Estimate Revision • May 13Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ₫482.0b to ₫538.5b. EPS estimate unchanged at ₫5,052. Net income forecast to grow 73% next year vs 33% growth forecast for Consumer Durables industry in Vietnam. Consensus price target of ₫64,713 unchanged from last update. Share price fell 3.5% to ₫50,200 over the past week.すべての更新を表示Recent updatesNew Risk • Apr 04New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 111% Dividend yield: 11% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 111% Earnings have declined by 7.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₫467.0b market cap, or US$17.7m).Reported Earnings • Apr 04Full year 2025 earnings released: EPS: ₫2,927 (vs ₫2,167 in FY 2024)Full year 2025 results: EPS: ₫2,927 (up from ₫2,167 in FY 2024). Revenue: ₫332.8b (flat on FY 2024). Net income: ₫73.5b (up 42% from FY 2024). Profit margin: 22% (up from 16% in FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • Feb 25Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 18, 2026Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 18, 2026.Reported Earnings • Feb 05Full year 2025 earnings released: EPS: ₫3,102 (vs ₫2,167 in FY 2024)Full year 2025 results: EPS: ₫3,102 (up from ₫2,167 in FY 2024). Revenue: ₫327.3b (down 2.5% from FY 2024). Net income: ₫76.5b (up 48% from FY 2024). Profit margin: 23% (up from 16% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.Upcoming Dividend • Dec 31Upcoming dividend of ₫1,000 per shareEligible shareholders must have bought the stock before 07 January 2026. Payment date: 22 January 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.5%. Within top quartile of Vietnamese dividend payers (7.7%). Higher than average of industry peers (5.9%).Reported Earnings • Nov 01Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫78.4b (down 14% from 3Q 2024). Net income: ₫20.9b (up 32% from 3Q 2024). Profit margin: 27% (up from 17% in 3Q 2024). The increase in margin was driven by lower expenses.Reported Earnings • Aug 02Second quarter 2025 earnings released: EPS: ₫698 (vs ₫532 in 2Q 2024)Second quarter 2025 results: EPS: ₫698 (up from ₫532 in 2Q 2024). Revenue: ₫71.1b (down 20% from 2Q 2024). Net income: ₫16.7b (up 33% from 2Q 2024). Profit margin: 24% (up from 14% 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 8% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings.Upcoming Dividend • Jun 09Upcoming dividend of ₫1,000 per shareEligible shareholders must have bought the stock before 16 June 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 41% and the cash payout ratio is 78%. Trailing yield: 4.6%. Lower than top quartile of Vietnamese dividend payers (8.0%). Higher than average of industry peers (4.0%).Buy Or Sell Opportunity • Apr 10Now 23% overvaluedOver the last 90 days, the stock has fallen 22% to ₫19,650. The fair value is estimated to be ₫16,013, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 16%.Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to ₫18,800, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 11x in the Consumer Durables industry in Vietnam. Total loss to shareholders of 50% over the past three years.お知らせ • Feb 27Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 19, 2025Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 19, 2025.Upcoming Dividend • Dec 12Upcoming dividend of ₫1,000 per shareEligible shareholders must have bought the stock before 19 December 2024. Payment date: 31 December 2024. Trailing yield: 10.0%. Within top quartile of Vietnamese dividend payers (8.1%). Higher than average of industry peers (4.6%).お知らせ • Dec 04Duc Thanh Wood Processing Joint Stock Company Announces First 2024 Cash Dividend, Payable on December 31, 2024Duc Thanh Wood Processing Joint Stock Company announced first 2024 cash dividend of VND 1,000 per share. Payment time: December 31, 2024 and Record date: December 20, 2024.Reported Earnings • Nov 05Third quarter 2024 earnings released: EPS: ₫700 (vs ₫370 in 3Q 2023)Third quarter 2024 results: EPS: ₫700 (up from ₫370 in 3Q 2023). Revenue: ₫91.7b (up 32% from 3Q 2023). Net income: ₫15.8b (up 93% from 3Q 2023). Profit margin: 17% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 18% per year.Reported Earnings • Aug 03Second quarter 2024 earnings released: EPS: ₫684 (vs ₫359 in 2Q 2023)Second quarter 2024 results: EPS: ₫684 (up from ₫359 in 2Q 2023). Revenue: ₫88.1b (down 1.5% from 2Q 2023). Net income: ₫15.5b (up 102% from 2Q 2023). Profit margin: 18% (up from 8.6% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.New Risk • Jul 30New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.9% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 120% Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (₫667.4b market cap, or US$26.7m).Reported Earnings • May 07First quarter 2024 earnings released: EPS: ₫416 (vs ₫344 in 1Q 2023)First quarter 2024 results: EPS: ₫416 (up from ₫344 in 1Q 2023). Revenue: ₫68.7b (up 9.0% from 1Q 2023). Net income: ₫9.52b (up 41% from 1Q 2023). Profit margin: 14% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.お知らせ • Mar 05Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 20, 2024Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 20, 2024.New Risk • Jan 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 17% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Cash payout ratio: 236% Earnings have declined by 12% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (₫506.9b market cap, or US$20.8m).Reported Earnings • Jan 23Full year 2023 earnings released: EPS: ₫1,641 (vs ₫3,151 in FY 2022)Full year 2023 results: EPS: ₫1,641 (down from ₫3,151 in FY 2022). Revenue: ₫309.8b (down 23% from FY 2022). Net income: ₫36.6b (down 46% from FY 2022). Profit margin: 12% (down from 17% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.お知らせ • Jan 12Duc Thanh Wood Processing Joint Stock Company Announces First Cash Dividend Payment in 2023, Payable on January 26, 2024On January 09, 2024, the Hochiminh Stock Exchange issued Announcement No. 41/TB-SGDHCM about the record date of Duc Thanh Wood Processing Joint Stock Company as follows: Ex-right date: January 16, 2024, Record date: January 17, 2024, Reason and purpose: to pay for the 1st cash dividend in 2023. Content: Exercise ratio: 10%/share (VND 1,000 per share). Payment time: January 26, 2024.Upcoming Dividend • Jan 09Upcoming dividend of ₫1,000 per share at 12% yieldEligible shareholders must have bought the stock before 16 January 2024. Payment date: 26 January 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 12%. Within top quartile of Vietnamese dividend payers (8.7%). Higher than average of industry peers (6.7%).New Risk • Dec 19New major risk - Revenue and earnings growthEarnings have declined by 11% 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 11% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (301% cash payout ratio). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (₫476.8b market cap, or US$19.6m).Reported Earnings • Oct 26Third quarter 2023 earnings released: EPS: ₫370 (vs ₫475 in 3Q 2022)Third quarter 2023 results: EPS: ₫370 (down from ₫475 in 3Q 2022). Revenue: ₫69.8b (up 8.3% from 3Q 2022). Net income: ₫8.20b (down 20% from 3Q 2022). Profit margin: 12% (down from 16% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Consumer Durables 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 7% per year, which means it has not declined as severely as earnings.Price Target Changed • Oct 11Price target decreased by 9.0% to ₫33,000Down from ₫36,277, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ₫27,900. Stock is down 17% over the past year. The company is forecast to post earnings per share of ₫3,610 for next year compared to ₫3,151 last year.Reported Earnings • Jul 22Second quarter 2023 earnings released: EPS: ₫361 (vs ₫1,131 in 2Q 2022)Second quarter 2023 results: EPS: ₫361 (down from ₫1,131 in 2Q 2022). Revenue: ₫89.4b (down 31% from 2Q 2022). Net income: ₫7.88b (down 68% from 2Q 2022). Profit margin: 8.8% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 12% 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 • Jun 16Duc Thanh Wood Processing Joint Stock Company announced that it expects to receive VND 21.3 billion in fundingDuc Thanh Wood Processing Joint Stock Company announced a private placement of 1,065,000 common shares at an issue price of VND 21,300,000,000 on June 14, 2023. The securities have a hold period of 3 months from the ending of the offering. The expected date of payment is in quarter 3, 2023 after approval of State Securities Commission of Vietnam. The transaction has been approved by board of directors of the company.Upcoming Dividend • May 24Upcoming dividend of ₫1,000 per share at 6.3% yieldEligible shareholders must have bought the stock before 31 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 74% but the company is not cash flow positive. Trailing yield: 6.3%. Lower than top quartile of Vietnamese dividend payers (8.8%). Higher than average of industry peers (2.5%).お知らせ • May 18Duc Thanh Wood Processing Joint Stock Company Approves Final Cash Dividend Payment in 2022, Payable in June 2023Duc Thanh Wood Processing Joint Stock Company approved to pay the final cash dividend for 2022 as follows: - Exercise ratio: 10% (VND 1,000 dongs/share) - Payment time: expected in June 2023.Reported Earnings • Apr 25First quarter 2023 earnings released: EPS: ₫357 (vs ₫994 in 1Q 2022)First quarter 2023 results: EPS: ₫357 (down from ₫994 in 1Q 2022). Revenue: ₫63.0b (down 42% from 1Q 2022). Net income: ₫7.54b (down 62% from 1Q 2022). Profit margin: 12% (down from 19% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.Price Target Changed • Mar 30Price target decreased by 8.8% to ₫36,127Down from ₫39,627, the current price target is an average from 2 analysts. New target price is 27% above last closing price of ₫28,500. Stock is down 44% over the past year. The company is forecast to post earnings per share of ₫3,718 for next year compared to ₫3,181 last year.Valuation Update With 7 Day Price Move • Feb 23Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₫33,950, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Consumer Durables industry in Asia. Total returns to shareholders of 89% over the past three years.お知らせ • Feb 07Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Mar 25, 2023Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Mar 25, 2023.Reported Earnings • Jan 31Full year 2022 earnings released: EPS: ₫3,499 (vs ₫2,761 in FY 2021)Full year 2022 results: EPS: ₫3,499 (up from ₫2,761 in FY 2021). Revenue: ₫399.8b (up 18% from FY 2021). Net income: ₫69.1b (up 20% from FY 2021). Profit margin: 17% (in line with FY 2021). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.お知らせ • Dec 03Duc Thanh Wood Processing Joint Stock Company Approves Dividend for the First Phase of 2022Duc Thanh Wood Processing Joint Stock Company approved to pay dividend for the first phase of 2022 dividend in cash: Payment date: expected in December 2022 and Dividend pay-out ratio: 10%/par value,VND 1,000 per share.お知らせ • Dec 02Duc Thanh Wood Processing Joint Stock Company Announces First Cash Dividend for 2022Duc Thanh Wood Processing Joint Stock Company announced the record date regarding to the first advancement payment of 2022 cash dividend with rate of 10%: December 15, 2022.Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 19% share price gain to ₫36,800, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Consumer Durables industry in Asia. Total returns to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫30,560 per share.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Tuan Hoang was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Major Estimate Revision • Nov 11Consensus revenue estimates fall by 11%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫475.0b to ₫423.5b. EPS estimate fell from ₫4,307 to ₫4,080 per share. Net income forecast to grow 27% next year vs 29% growth forecast for Consumer Durables industry in Vietnam. Consensus price target of ₫57,213 unchanged from last update. Share price fell 2.1% to ₫33,200 over the past week.Reported Earnings • Oct 25Third quarter 2022 earnings released: EPS: ₫522 (vs ₫289 in 3Q 2021)Third quarter 2022 results: EPS: ₫522 (up from ₫289 in 3Q 2021). Revenue: ₫64.4b (up 98% from 3Q 2021). Net income: ₫10.3b (up 80% from 3Q 2021). Profit margin: 16% (down from 18% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Major Estimate Revision • Aug 30Consensus revenue estimates fall by 12%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫538.5b to ₫475.0b. EPS estimate fell from ₫5,052 to ₫4,307 per share. Net income forecast to grow 44% next year vs 35% growth forecast for Consumer Durables industry in Vietnam. Consensus price target down from ₫64,563 to ₫57,213. Share price was steady at ₫40,450 over the past week.Price Target Changed • Aug 29Price target decreased to ₫57,213Down from ₫64,713, the current price target is an average from 2 analysts. New target price is 41% above last closing price of ₫40,450. Stock is down 22% over the past year. The company is forecast to post earnings per share of ₫5,052 for next year compared to ₫3,037 last year.Reported Earnings • Jul 22Second quarter 2022 earnings released: EPS: ₫1,185 (vs ₫1,004 in 2Q 2021)Second quarter 2022 results: EPS: ₫1,185 (up from ₫1,004 in 2Q 2021). Revenue: ₫130.0b (up 14% from 2Q 2021). Net income: ₫23.2b (up 22% from 2Q 2021). Profit margin: 18% (up from 17% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 61%, compared to a 13% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Major Estimate Revision • May 13Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ₫482.0b to ₫538.5b. EPS estimate unchanged at ₫5,052. Net income forecast to grow 73% next year vs 33% growth forecast for Consumer Durables industry in Vietnam. Consensus price target of ₫64,713 unchanged from last update. Share price fell 3.5% to ₫50,200 over the past week.お知らせ • May 10Duc Thanh Wood Processing Joint Stock Company Announces Dividend for 2021, Payable on May 26, 2022Duc Thanh Wood Processing Joint Stock Company announced second cash dividend for 2021 with exercise ratio of 10.0% (1,000 dongs/share) with record date as May 17, 2022, ex-right date as May 16, 2022 and payable date as May 26, 2022.Upcoming Dividend • May 09Upcoming dividend of ₫1,000 per shareEligible shareholders must have bought the stock before 16 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 7.0%. Within top quartile of Vietnamese dividend payers (6.9%). Higher than average of industry peers (6.0%).Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Tuan Hoang was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Mar 07Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: ₫3,037 (down from ₫4,167 in FY 2020). Revenue: ₫338.6b (down 15% from FY 2020). Net income: ₫57.7b (down 26% from FY 2020). Profit margin: 17% (down from 19% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 5.7%. Over the next year, revenue is forecast to grow 45%, compared to a 11% growth forecast for the industry in Vietnam. 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 14% per year, which means it is well ahead of earnings.Price Target Changed • Feb 14Price target increased to ₫67,900Up from ₫61,045, the current price target is an average from 2 analysts. New target price is 25% above last closing price of ₫54,200. Stock is up 53% over the past year. The company is forecast to post earnings per share of ₫4,755 for next year compared to ₫3,053 last year.Reported Earnings • Jan 23Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ₫3,358 (down from ₫4,167 in FY 2020). Revenue: ₫338.6b (down 15% from FY 2020). Net income: ₫60.8b (down 22% from FY 2020). Profit margin: 18% (down from 19% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 41%, compared to a 12% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.Upcoming Dividend • Nov 09Upcoming dividend of ₫2,000 per shareEligible shareholders must have bought the stock before 16 November 2021. Payment date: 26 November 2021. Trailing yield: 6.3%. Within top quartile of Vietnamese dividend payers (6.0%). Higher than average of industry peers (5.1%).Reported Earnings • Oct 22Third quarter 2021 earnings releasedThe company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₫32.6b (down 69% from 3Q 2020). Net income: ₫5.70b (down 74% from 3Q 2020). Profit margin: 18% (down from 21% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.Upcoming Dividend • Sep 09Upcoming dividend of ₫2,000 per shareEligible shareholders must have bought the stock before 16 September 2021. Payment date: 30 September 2021. Trailing yield: 3.4%. Lower than top quartile of Vietnamese dividend payers (6.8%). Lower than average of industry peers (4.5%).Price Target Changed • Aug 30Price target decreased to ₫63,896Down from ₫69,476, the current price target is an average from 2 analysts. New target price is 11% above last closing price of ₫57,400. Stock is up 74% over the past year.Reported Earnings • Jul 23Second quarter 2021 earnings released: EPS ₫1,083 (vs ₫874 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: ₫114.5b (up 30% from 2Q 2020). Net income: ₫19.2b (up 29% from 2Q 2020). Profit margin: 17% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Reported Earnings • Apr 21First quarter 2021 earnings released: EPS ₫1,012 (vs ₫825 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₫100.1b (up 22% from 1Q 2020). Net income: ₫18.0b (up 33% from 1Q 2020). Profit margin: 18% (up from 17% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Mar 30Investor sentiment improved over the past weekAfter last week's 19% share price gain to ₫57,000, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 19x in the Consumer Durables industry in Asia. Total returns to shareholders of 102% over the past three years.Valuation Update With 7 Day Price Move • Feb 23Investor sentiment improved over the past weekAfter last week's 16% share price gain to ₫45,200, the stock is trading at a trailing P/E ratio of 9.9x, up from the previous P/E ratio of 8.5x. This compares to an average P/E of 19x in the Consumer Durables industry in Asia. Total returns to shareholders over the past three years are 47%.Is New 90 Day High Low • Feb 22New 90-day high: ₫42,800The company is up 16% from its price of ₫37,000 on 24 November 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 17% over the same period.Reported Earnings • Jan 22Full year 2020 earnings released: EPS ₫4,583The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: ₫400.4b (up 17% from FY 2019). Net income: ₫80.0b (up 9.9% from FY 2019). Profit margin: 20% (down from 21% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Dec 17New 90-day high: ₫40,400The company is up 16% from its price of ₫34,900 on 18 September 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 23% over the same period.Reported Earnings • Oct 22Third quarter earnings releasedOver the last 12 months the company has reported total profits of ₫71.2b, down 4.0% from the prior year. Total revenue was ₫379.1b over the last 12 months, up 11% from the prior year.Is New 90 Day High Low • Oct 06New 90-day high: ₫38,400The company is up 28% from its price of ₫30,000 on 08 July 2020. The Vietnamese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 18% over the same period. このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Duc Thanh Wood Processing は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測HOSE:GDT - アナリストの将来予測と過去の財務データ ( )VND Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数3/31/2026329,73672,622-90,371114,248N/A12/31/2025332,83171,20944,46786,975N/A9/30/2025303,89164,994133,161140,187N/A6/30/2025317,31459,75285,29490,498N/A3/31/2025337,50557,15831,398203,636N/A12/31/2024335,63751,937-64,800107,812N/A9/30/2024337,84552,730-124,66651,617N/A6/30/2024315,75945,282-92,81078,773N/A3/31/2024316,64337,632-11,201-3,847N/A12/31/2023310,99634,87223,64031,910N/A9/30/2023319,36135,40820,73332,201N/A6/30/2023314,04437,48017,79334,252N/A3/31/2023354,62354,934-23,025-8,787N/A12/31/2022399,76367,192-16,2481,011N/A9/30/2022394,03670,473-18,973-11,538N/A6/30/2022362,15465,906-27,351-20,764N/A3/31/2022346,68361,8711998,679N/A12/31/2021338,62958,96229,31134,348N/A9/30/2021371,27070,17813,19673,987N/A6/30/2021444,92586,27623,35585,204N/A3/31/2021418,63880,12625,06283,088N/A12/31/2020400,40577,57813,68771,594N/A9/30/2020379,08071,18389,81390,243N/A6/30/2020361,27668,22358,13760,589N/A3/31/2020359,96774,84573,70876,770N/A12/31/2019341,84672,736N/A69,081N/A9/30/2019342,69174,148N/A3,143N/A6/30/2019351,90279,154N/A47,283N/A3/31/2019370,65082,977N/A22,631N/A12/31/2018389,83489,705N/A46,630N/A9/30/2018381,13988,333N/A57,967N/A6/30/2018384,86087,132N/A27,221N/A3/31/2018382,34783,886N/A62,652N/A12/31/2017362,24596,232N/A46,915N/A9/30/2017364,673117,362N/A81,629N/A6/30/2017338,927115,924N/A55,608N/A3/31/2017322,947112,932N/A67,689N/A1/1/2017323,64995,933N/A76,202N/A9/30/2016310,93868,946N/A86,350N/A6/30/2016312,05865,827N/A114,987N/A3/31/2016298,21156,755N/A66,558N/A1/1/2016295,76655,408N/A71,462N/A9/30/2015280,80947,531N/A44,020N/A6/30/2015280,16645,773N/A56,176N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: GDTの予測収益成長が 貯蓄率 ( 3.2% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: GDTの収益がVN市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: GDTの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: GDTの収益がVN市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: GDTの収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: GDTの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YConsumer-durables 業界の高成長企業。View Past Performance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2026/05/24 23:26終値2026/05/22 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本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、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。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Duc Thanh Wood Processing Joint Stock Company 0 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。3 アナリスト機関Manh TranBao Viet Securities Joint Stock CompanyVinh BuiViet Capital Securities Joint Stock CompanyHieu NguyenViet Dragon Securities Corporation
Price Target Changed • Oct 11Price target decreased by 9.0% to ₫33,000Down from ₫36,277, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ₫27,900. Stock is down 17% over the past year. The company is forecast to post earnings per share of ₫3,610 for next year compared to ₫3,151 last year.
Price Target Changed • Mar 30Price target decreased by 8.8% to ₫36,127Down from ₫39,627, the current price target is an average from 2 analysts. New target price is 27% above last closing price of ₫28,500. Stock is down 44% over the past year. The company is forecast to post earnings per share of ₫3,718 for next year compared to ₫3,181 last year.
Major Estimate Revision • Nov 11Consensus revenue estimates fall by 11%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫475.0b to ₫423.5b. EPS estimate fell from ₫4,307 to ₫4,080 per share. Net income forecast to grow 27% next year vs 29% growth forecast for Consumer Durables industry in Vietnam. Consensus price target of ₫57,213 unchanged from last update. Share price fell 2.1% to ₫33,200 over the past week.
Major Estimate Revision • Aug 30Consensus revenue estimates fall by 12%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫538.5b to ₫475.0b. EPS estimate fell from ₫5,052 to ₫4,307 per share. Net income forecast to grow 44% next year vs 35% growth forecast for Consumer Durables industry in Vietnam. Consensus price target down from ₫64,563 to ₫57,213. Share price was steady at ₫40,450 over the past week.
Price Target Changed • Aug 29Price target decreased to ₫57,213Down from ₫64,713, the current price target is an average from 2 analysts. New target price is 41% above last closing price of ₫40,450. Stock is down 22% over the past year. The company is forecast to post earnings per share of ₫5,052 for next year compared to ₫3,037 last year.
Major Estimate Revision • May 13Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ₫482.0b to ₫538.5b. EPS estimate unchanged at ₫5,052. Net income forecast to grow 73% next year vs 33% growth forecast for Consumer Durables industry in Vietnam. Consensus price target of ₫64,713 unchanged from last update. Share price fell 3.5% to ₫50,200 over the past week.
New Risk • Apr 04New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 111% Dividend yield: 11% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 114% Cash payout ratio: 111% Earnings have declined by 7.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₫467.0b market cap, or US$17.7m).
Reported Earnings • Apr 04Full year 2025 earnings released: EPS: ₫2,927 (vs ₫2,167 in FY 2024)Full year 2025 results: EPS: ₫2,927 (up from ₫2,167 in FY 2024). Revenue: ₫332.8b (flat on FY 2024). Net income: ₫73.5b (up 42% from FY 2024). Profit margin: 22% (up from 16% in FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • Feb 25Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 18, 2026Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 18, 2026.
Reported Earnings • Feb 05Full year 2025 earnings released: EPS: ₫3,102 (vs ₫2,167 in FY 2024)Full year 2025 results: EPS: ₫3,102 (up from ₫2,167 in FY 2024). Revenue: ₫327.3b (down 2.5% from FY 2024). Net income: ₫76.5b (up 48% from FY 2024). Profit margin: 23% (up from 16% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Dec 31Upcoming dividend of ₫1,000 per shareEligible shareholders must have bought the stock before 07 January 2026. Payment date: 22 January 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.5%. Within top quartile of Vietnamese dividend payers (7.7%). Higher than average of industry peers (5.9%).
Reported Earnings • Nov 01Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫78.4b (down 14% from 3Q 2024). Net income: ₫20.9b (up 32% from 3Q 2024). Profit margin: 27% (up from 17% in 3Q 2024). The increase in margin was driven by lower expenses.
Reported Earnings • Aug 02Second quarter 2025 earnings released: EPS: ₫698 (vs ₫532 in 2Q 2024)Second quarter 2025 results: EPS: ₫698 (up from ₫532 in 2Q 2024). Revenue: ₫71.1b (down 20% from 2Q 2024). Net income: ₫16.7b (up 33% from 2Q 2024). Profit margin: 24% (up from 14% 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 8% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings.
Upcoming Dividend • Jun 09Upcoming dividend of ₫1,000 per shareEligible shareholders must have bought the stock before 16 June 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 41% and the cash payout ratio is 78%. Trailing yield: 4.6%. Lower than top quartile of Vietnamese dividend payers (8.0%). Higher than average of industry peers (4.0%).
Buy Or Sell Opportunity • Apr 10Now 23% overvaluedOver the last 90 days, the stock has fallen 22% to ₫19,650. The fair value is estimated to be ₫16,013, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 16%.
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to ₫18,800, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 11x in the Consumer Durables industry in Vietnam. Total loss to shareholders of 50% over the past three years.
お知らせ • Feb 27Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 19, 2025Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 19, 2025.
Upcoming Dividend • Dec 12Upcoming dividend of ₫1,000 per shareEligible shareholders must have bought the stock before 19 December 2024. Payment date: 31 December 2024. Trailing yield: 10.0%. Within top quartile of Vietnamese dividend payers (8.1%). Higher than average of industry peers (4.6%).
お知らせ • Dec 04Duc Thanh Wood Processing Joint Stock Company Announces First 2024 Cash Dividend, Payable on December 31, 2024Duc Thanh Wood Processing Joint Stock Company announced first 2024 cash dividend of VND 1,000 per share. Payment time: December 31, 2024 and Record date: December 20, 2024.
Reported Earnings • Nov 05Third quarter 2024 earnings released: EPS: ₫700 (vs ₫370 in 3Q 2023)Third quarter 2024 results: EPS: ₫700 (up from ₫370 in 3Q 2023). Revenue: ₫91.7b (up 32% from 3Q 2023). Net income: ₫15.8b (up 93% from 3Q 2023). Profit margin: 17% (up from 12% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 18% per year.
Reported Earnings • Aug 03Second quarter 2024 earnings released: EPS: ₫684 (vs ₫359 in 2Q 2023)Second quarter 2024 results: EPS: ₫684 (up from ₫359 in 2Q 2023). Revenue: ₫88.1b (down 1.5% from 2Q 2023). Net income: ₫15.5b (up 102% from 2Q 2023). Profit margin: 18% (up from 8.6% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
New Risk • Jul 30New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.9% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 120% Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (₫667.4b market cap, or US$26.7m).
Reported Earnings • May 07First quarter 2024 earnings released: EPS: ₫416 (vs ₫344 in 1Q 2023)First quarter 2024 results: EPS: ₫416 (up from ₫344 in 1Q 2023). Revenue: ₫68.7b (up 9.0% from 1Q 2023). Net income: ₫9.52b (up 41% from 1Q 2023). Profit margin: 14% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 05Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 20, 2024Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Apr 20, 2024.
New Risk • Jan 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 17% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Cash payout ratio: 236% Earnings have declined by 12% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (₫506.9b market cap, or US$20.8m).
Reported Earnings • Jan 23Full year 2023 earnings released: EPS: ₫1,641 (vs ₫3,151 in FY 2022)Full year 2023 results: EPS: ₫1,641 (down from ₫3,151 in FY 2022). Revenue: ₫309.8b (down 23% from FY 2022). Net income: ₫36.6b (down 46% from FY 2022). Profit margin: 12% (down from 17% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
お知らせ • Jan 12Duc Thanh Wood Processing Joint Stock Company Announces First Cash Dividend Payment in 2023, Payable on January 26, 2024On January 09, 2024, the Hochiminh Stock Exchange issued Announcement No. 41/TB-SGDHCM about the record date of Duc Thanh Wood Processing Joint Stock Company as follows: Ex-right date: January 16, 2024, Record date: January 17, 2024, Reason and purpose: to pay for the 1st cash dividend in 2023. Content: Exercise ratio: 10%/share (VND 1,000 per share). Payment time: January 26, 2024.
Upcoming Dividend • Jan 09Upcoming dividend of ₫1,000 per share at 12% yieldEligible shareholders must have bought the stock before 16 January 2024. Payment date: 26 January 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 12%. Within top quartile of Vietnamese dividend payers (8.7%). Higher than average of industry peers (6.7%).
New Risk • Dec 19New major risk - Revenue and earnings growthEarnings have declined by 11% 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 11% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (301% cash payout ratio). Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (₫476.8b market cap, or US$19.6m).
Reported Earnings • Oct 26Third quarter 2023 earnings released: EPS: ₫370 (vs ₫475 in 3Q 2022)Third quarter 2023 results: EPS: ₫370 (down from ₫475 in 3Q 2022). Revenue: ₫69.8b (up 8.3% from 3Q 2022). Net income: ₫8.20b (down 20% from 3Q 2022). Profit margin: 12% (down from 16% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Consumer Durables 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 7% per year, which means it has not declined as severely as earnings.
Price Target Changed • Oct 11Price target decreased by 9.0% to ₫33,000Down from ₫36,277, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ₫27,900. Stock is down 17% over the past year. The company is forecast to post earnings per share of ₫3,610 for next year compared to ₫3,151 last year.
Reported Earnings • Jul 22Second quarter 2023 earnings released: EPS: ₫361 (vs ₫1,131 in 2Q 2022)Second quarter 2023 results: EPS: ₫361 (down from ₫1,131 in 2Q 2022). Revenue: ₫89.4b (down 31% from 2Q 2022). Net income: ₫7.88b (down 68% from 2Q 2022). Profit margin: 8.8% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 12% 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 • Jun 16Duc Thanh Wood Processing Joint Stock Company announced that it expects to receive VND 21.3 billion in fundingDuc Thanh Wood Processing Joint Stock Company announced a private placement of 1,065,000 common shares at an issue price of VND 21,300,000,000 on June 14, 2023. The securities have a hold period of 3 months from the ending of the offering. The expected date of payment is in quarter 3, 2023 after approval of State Securities Commission of Vietnam. The transaction has been approved by board of directors of the company.
Upcoming Dividend • May 24Upcoming dividend of ₫1,000 per share at 6.3% yieldEligible shareholders must have bought the stock before 31 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 74% but the company is not cash flow positive. Trailing yield: 6.3%. Lower than top quartile of Vietnamese dividend payers (8.8%). Higher than average of industry peers (2.5%).
お知らせ • May 18Duc Thanh Wood Processing Joint Stock Company Approves Final Cash Dividend Payment in 2022, Payable in June 2023Duc Thanh Wood Processing Joint Stock Company approved to pay the final cash dividend for 2022 as follows: - Exercise ratio: 10% (VND 1,000 dongs/share) - Payment time: expected in June 2023.
Reported Earnings • Apr 25First quarter 2023 earnings released: EPS: ₫357 (vs ₫994 in 1Q 2022)First quarter 2023 results: EPS: ₫357 (down from ₫994 in 1Q 2022). Revenue: ₫63.0b (down 42% from 1Q 2022). Net income: ₫7.54b (down 62% from 1Q 2022). Profit margin: 12% (down from 19% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
Price Target Changed • Mar 30Price target decreased by 8.8% to ₫36,127Down from ₫39,627, the current price target is an average from 2 analysts. New target price is 27% above last closing price of ₫28,500. Stock is down 44% over the past year. The company is forecast to post earnings per share of ₫3,718 for next year compared to ₫3,181 last year.
Valuation Update With 7 Day Price Move • Feb 23Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₫33,950, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Consumer Durables industry in Asia. Total returns to shareholders of 89% over the past three years.
お知らせ • Feb 07Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Mar 25, 2023Duc Thanh Wood Processing Joint Stock Company, Annual General Meeting, Mar 25, 2023.
Reported Earnings • Jan 31Full year 2022 earnings released: EPS: ₫3,499 (vs ₫2,761 in FY 2021)Full year 2022 results: EPS: ₫3,499 (up from ₫2,761 in FY 2021). Revenue: ₫399.8b (up 18% from FY 2021). Net income: ₫69.1b (up 20% from FY 2021). Profit margin: 17% (in line with FY 2021). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
お知らせ • Dec 03Duc Thanh Wood Processing Joint Stock Company Approves Dividend for the First Phase of 2022Duc Thanh Wood Processing Joint Stock Company approved to pay dividend for the first phase of 2022 dividend in cash: Payment date: expected in December 2022 and Dividend pay-out ratio: 10%/par value,VND 1,000 per share.
お知らせ • Dec 02Duc Thanh Wood Processing Joint Stock Company Announces First Cash Dividend for 2022Duc Thanh Wood Processing Joint Stock Company announced the record date regarding to the first advancement payment of 2022 cash dividend with rate of 10%: December 15, 2022.
Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 19% share price gain to ₫36,800, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Consumer Durables industry in Asia. Total returns to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫30,560 per share.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Tuan Hoang was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Major Estimate Revision • Nov 11Consensus revenue estimates fall by 11%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫475.0b to ₫423.5b. EPS estimate fell from ₫4,307 to ₫4,080 per share. Net income forecast to grow 27% next year vs 29% growth forecast for Consumer Durables industry in Vietnam. Consensus price target of ₫57,213 unchanged from last update. Share price fell 2.1% to ₫33,200 over the past week.
Reported Earnings • Oct 25Third quarter 2022 earnings released: EPS: ₫522 (vs ₫289 in 3Q 2021)Third quarter 2022 results: EPS: ₫522 (up from ₫289 in 3Q 2021). Revenue: ₫64.4b (up 98% from 3Q 2021). Net income: ₫10.3b (up 80% from 3Q 2021). Profit margin: 16% (down from 18% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Major Estimate Revision • Aug 30Consensus revenue estimates fall by 12%The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫538.5b to ₫475.0b. EPS estimate fell from ₫5,052 to ₫4,307 per share. Net income forecast to grow 44% next year vs 35% growth forecast for Consumer Durables industry in Vietnam. Consensus price target down from ₫64,563 to ₫57,213. Share price was steady at ₫40,450 over the past week.
Price Target Changed • Aug 29Price target decreased to ₫57,213Down from ₫64,713, the current price target is an average from 2 analysts. New target price is 41% above last closing price of ₫40,450. Stock is down 22% over the past year. The company is forecast to post earnings per share of ₫5,052 for next year compared to ₫3,037 last year.
Reported Earnings • Jul 22Second quarter 2022 earnings released: EPS: ₫1,185 (vs ₫1,004 in 2Q 2021)Second quarter 2022 results: EPS: ₫1,185 (up from ₫1,004 in 2Q 2021). Revenue: ₫130.0b (up 14% from 2Q 2021). Net income: ₫23.2b (up 22% from 2Q 2021). Profit margin: 18% (up from 17% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 61%, compared to a 13% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Major Estimate Revision • May 13Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ₫482.0b to ₫538.5b. EPS estimate unchanged at ₫5,052. Net income forecast to grow 73% next year vs 33% growth forecast for Consumer Durables industry in Vietnam. Consensus price target of ₫64,713 unchanged from last update. Share price fell 3.5% to ₫50,200 over the past week.
お知らせ • May 10Duc Thanh Wood Processing Joint Stock Company Announces Dividend for 2021, Payable on May 26, 2022Duc Thanh Wood Processing Joint Stock Company announced second cash dividend for 2021 with exercise ratio of 10.0% (1,000 dongs/share) with record date as May 17, 2022, ex-right date as May 16, 2022 and payable date as May 26, 2022.
Upcoming Dividend • May 09Upcoming dividend of ₫1,000 per shareEligible shareholders must have bought the stock before 16 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 7.0%. Within top quartile of Vietnamese dividend payers (6.9%). Higher than average of industry peers (6.0%).
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Tuan Hoang was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Mar 07Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2021 results: EPS: ₫3,037 (down from ₫4,167 in FY 2020). Revenue: ₫338.6b (down 15% from FY 2020). Net income: ₫57.7b (down 26% from FY 2020). Profit margin: 17% (down from 19% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 5.7%. Over the next year, revenue is forecast to grow 45%, compared to a 11% growth forecast for the industry in Vietnam. 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 14% per year, which means it is well ahead of earnings.
Price Target Changed • Feb 14Price target increased to ₫67,900Up from ₫61,045, the current price target is an average from 2 analysts. New target price is 25% above last closing price of ₫54,200. Stock is up 53% over the past year. The company is forecast to post earnings per share of ₫4,755 for next year compared to ₫3,053 last year.
Reported Earnings • Jan 23Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: ₫3,358 (down from ₫4,167 in FY 2020). Revenue: ₫338.6b (down 15% from FY 2020). Net income: ₫60.8b (down 22% from FY 2020). Profit margin: 18% (down from 19% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 41%, compared to a 12% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings.
Upcoming Dividend • Nov 09Upcoming dividend of ₫2,000 per shareEligible shareholders must have bought the stock before 16 November 2021. Payment date: 26 November 2021. Trailing yield: 6.3%. Within top quartile of Vietnamese dividend payers (6.0%). Higher than average of industry peers (5.1%).
Reported Earnings • Oct 22Third quarter 2021 earnings releasedThe company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₫32.6b (down 69% from 3Q 2020). Net income: ₫5.70b (down 74% from 3Q 2020). Profit margin: 18% (down from 21% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
Upcoming Dividend • Sep 09Upcoming dividend of ₫2,000 per shareEligible shareholders must have bought the stock before 16 September 2021. Payment date: 30 September 2021. Trailing yield: 3.4%. Lower than top quartile of Vietnamese dividend payers (6.8%). Lower than average of industry peers (4.5%).
Price Target Changed • Aug 30Price target decreased to ₫63,896Down from ₫69,476, the current price target is an average from 2 analysts. New target price is 11% above last closing price of ₫57,400. Stock is up 74% over the past year.
Reported Earnings • Jul 23Second quarter 2021 earnings released: EPS ₫1,083 (vs ₫874 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: ₫114.5b (up 30% from 2Q 2020). Net income: ₫19.2b (up 29% from 2Q 2020). Profit margin: 17% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Reported Earnings • Apr 21First quarter 2021 earnings released: EPS ₫1,012 (vs ₫825 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₫100.1b (up 22% from 1Q 2020). Net income: ₫18.0b (up 33% from 1Q 2020). Profit margin: 18% (up from 17% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Mar 30Investor sentiment improved over the past weekAfter last week's 19% share price gain to ₫57,000, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 19x in the Consumer Durables industry in Asia. Total returns to shareholders of 102% over the past three years.
Valuation Update With 7 Day Price Move • Feb 23Investor sentiment improved over the past weekAfter last week's 16% share price gain to ₫45,200, the stock is trading at a trailing P/E ratio of 9.9x, up from the previous P/E ratio of 8.5x. This compares to an average P/E of 19x in the Consumer Durables industry in Asia. Total returns to shareholders over the past three years are 47%.
Is New 90 Day High Low • Feb 22New 90-day high: ₫42,800The company is up 16% from its price of ₫37,000 on 24 November 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 17% over the same period.
Reported Earnings • Jan 22Full year 2020 earnings released: EPS ₫4,583The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: ₫400.4b (up 17% from FY 2019). Net income: ₫80.0b (up 9.9% from FY 2019). Profit margin: 20% (down from 21% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Dec 17New 90-day high: ₫40,400The company is up 16% from its price of ₫34,900 on 18 September 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 23% over the same period.
Reported Earnings • Oct 22Third quarter earnings releasedOver the last 12 months the company has reported total profits of ₫71.2b, down 4.0% from the prior year. Total revenue was ₫379.1b over the last 12 months, up 11% from the prior year.
Is New 90 Day High Low • Oct 06New 90-day high: ₫38,400The company is up 28% from its price of ₫30,000 on 08 July 2020. The Vietnamese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 18% over the same period.