View ValuationSaigon Cargo Service 将来の成長Future 基準チェック /06Saigon Cargo Serviceの収益と利益はそれぞれ年間14.2%と11.5%減少すると予測されていますが、EPS は年間14.5% 減少すると予測されています。主要情報-11.5%収益成長率-14.50%EPS成長率Logistics 収益成長14.5%収益成長率-14.2%将来の株主資本利益率n/aアナリストカバレッジLow最終更新日20 Apr 2026今後の成長に関する最新情報Major Estimate Revision • Apr 24Consensus EPS estimates increase by 45%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ₫1.24t to ₫1.31t. EPS estimate increased from ₫5,886 to ₫8,550 per share. Net income forecast to grow 11% next year vs 21% growth forecast for Logistics industry in Vietnam. Consensus price target of ₫60,000 unchanged from last update. Share price fell 2.4% to ₫52,700 over the past week.Price Target Changed • Jan 23Price target decreased by 8.7% to ₫74,225Down from ₫81,300, the current price target is an average from 4 analysts. New target price is 33% above last closing price of ₫56,000. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₫6,222 for next year compared to ₫6,547 last year.Price Target Changed • Jan 14Price target decreased by 9.2% to ₫76,033Down from ₫83,717, the current price target is an average from 3 analysts. New target price is 38% above last closing price of ₫55,100. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₫6,222 for next year compared to ₫6,547 last year.Major Estimate Revision • May 31Consensus EPS estimates increase by 32%, revenue downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₫1.15t to ₫1.13t. EPS estimate rose from ₫4,405 to ₫5,821. Net income forecast to grow 11% next year vs 17% growth forecast for Logistics industry in Vietnam. Consensus price target down from ₫81,650 to ₫79,450. Share price was steady at ₫61,900 over the past week.Price Target Changed • May 30Price target decreased by 8.7% to ₫79,450Down from ₫87,033, the current price target is an average from 2 analysts. New target price is 28% above last closing price of ₫61,900. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₫5,821 for next year compared to ₫6,547 last year.Price Target Changed • Nov 09Price target decreased by 8.3% to ₫87,033Down from ₫94,933, the current price target is an average from 3 analysts. New target price is 6.9% above last closing price of ₫81,400. Stock is up 27% over the past year. The company is forecast to post earnings per share of ₫6,949 for next year compared to ₫4,638 last year.すべての更新を表示Recent updatesRecent Insider Transactions • Jun 11CEO, General Director & Director recently bought ₫495m worth of stockOn the 3rd of June, Khanh Nguyen bought around 50k shares on-market at roughly ₫10,000 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Khanh's only on-market trade for the last 12 months.Major Estimate Revision • Apr 24Consensus EPS estimates increase by 45%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ₫1.24t to ₫1.31t. EPS estimate increased from ₫5,886 to ₫8,550 per share. Net income forecast to grow 11% next year vs 21% growth forecast for Logistics industry in Vietnam. Consensus price target of ₫60,000 unchanged from last update. Share price fell 2.4% to ₫52,700 over the past week.Reported Earnings • Apr 19First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: ₫272.0b (up 2.1% from 1Q 2025). Net income: ₫173.3b (up 2.0% from 1Q 2025). Profit margin: 64% (in line with 1Q 2025). Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 8.1%.Reported Earnings • Mar 12Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: ₫7,112 (up from ₫6,547 in FY 2024). Revenue: ₫1.20t (up 15% from FY 2024). Net income: ₫751.1b (up 21% from FY 2024). Profit margin: 63% (up from 60% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is expected to decline by 13% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 8.0%. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.お知らせ • Mar 10Saigon Cargo Service Corporation, Annual General Meeting, Apr 28, 2026Saigon Cargo Service Corporation, Annual General Meeting, Apr 28, 2026. Location: no. 30 phan thuc duyen street, tan son nhat ward, ho chi minh VietnamPrice Target Changed • Jan 23Price target decreased by 8.7% to ₫74,225Down from ₫81,300, the current price target is an average from 4 analysts. New target price is 33% above last closing price of ₫56,000. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₫6,222 for next year compared to ₫6,547 last year.Price Target Changed • Jan 14Price target decreased by 9.2% to ₫76,033Down from ₫83,717, the current price target is an average from 3 analysts. New target price is 38% above last closing price of ₫55,100. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₫6,222 for next year compared to ₫6,547 last year.Buy Or Sell Opportunity • Jan 14Now 21% overvaluedOver the last 90 days, the stock has fallen 1.1% to ₫55,100. The fair value is estimated to be ₫45,440, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to decline by 9.4% per annum. Earnings are also forecast to decline by 9.6% per annum over the same time period.Declared Dividend • Dec 11Dividend of ₫2,500 announcedShareholders will receive a dividend of ₫2,500. Ex-date: 19th December 2025 Payment date: 26th January 2026 Dividend yield will be 10%, which is higher than the industry average of 8.9%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio). However, it is covered by cash flows (76% cash payout ratio). The dividend has increased by an average of 6.8% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 7.2% to bring the payout ratio under control. However, EPS is expected to decline by 28% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.Buy Or Sell Opportunity • Nov 18Now 21% overvaluedOver the last 90 days, the stock has fallen 12% to ₫56,200. The fair value is estimated to be ₫46,341, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to decline by 9.4% per annum. Earnings are also forecast to decline by 9.6% per annum over the same time period.Reported Earnings • Oct 21Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫311.6b (up 17% from 3Q 2024). Net income: ₫204.0b (up 9.8% from 3Q 2024). Profit margin: 66% (down from 70% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 9.4% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 8.0%.Upcoming Dividend • Aug 22Upcoming dividend of ₫3,000 per shareEligible shareholders must have bought the stock before 29 August 2025. Payment date: 15 September 2025. Payout ratio and cash payout ratio are on the higher end at 97% and 77% respectively. Trailing yield: 9.2%. Within top quartile of Vietnamese dividend payers (7.4%). Higher than average of industry peers (3.4%).Reported Earnings • Jul 20Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: ₫291.7b (up 11% from 2Q 2024). Net income: ₫188.9b (flat on 2Q 2024). Profit margin: 65% (down from 72% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 8.5% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 7.6%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.Major Estimate Revision • May 31Consensus EPS estimates increase by 32%, revenue downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₫1.15t to ₫1.13t. EPS estimate rose from ₫4,405 to ₫5,821. Net income forecast to grow 11% next year vs 17% growth forecast for Logistics industry in Vietnam. Consensus price target down from ₫81,650 to ₫79,450. Share price was steady at ₫61,900 over the past week.Price Target Changed • May 30Price target decreased by 8.7% to ₫79,450Down from ₫87,033, the current price target is an average from 2 analysts. New target price is 28% above last closing price of ₫61,900. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₫5,821 for next year compared to ₫6,547 last year.Buy Or Sell Opportunity • May 15Now 23% overvaluedOver the last 90 days, the stock has fallen 16% to ₫64,700. The fair value is estimated to be ₫52,787, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 7.0% per annum. Earnings are also forecast to decline by 7.6% per annum over the same time period.お知らせ • May 13Saigon Cargo Service Corporation, Annual General Meeting, Jun 26, 2025Saigon Cargo Service Corporation, Annual General Meeting, Jun 26, 2025. Location: no. 30, phan thuc duyen street, ward 4, tan binh district, hcmc., VietnamReported Earnings • Apr 20First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: ₫266.3b (up 25% from 1Q 2024). Net income: ₫169.9b (up 15% from 1Q 2024). Profit margin: 64% (down from 69% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 7.6%.New Risk • Apr 18New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 6.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (97% payout ratio).Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to ₫55,800, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Logistics industry in Asia. Total loss to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫56,145 per share.Buy Or Sell Opportunity • Apr 01Now 21% overvaluedOver the last 90 days, the stock has fallen 13% to ₫70,000. The fair value is estimated to be ₫57,871, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 26% in the next 2 years.Reported Earnings • Jan 19Full year 2024 earnings released: EPS: ₫7,301 (vs ₫4,638 in FY 2023)Full year 2024 results: EPS: ₫7,301 (up from ₫4,638 in FY 2023). Revenue: ₫1.04t (up 47% from FY 2023). Net income: ₫692.8b (up 58% from FY 2023). Profit margin: 67% (up from 62% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 8.3%. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year.Declared Dividend • Dec 13Dividend of ₫3,000 announcedShareholders will receive a dividend of ₫3,000. Ex-date: 23rd December 2024 Payment date: 8th January 2025 Dividend yield will be 7.5%, which is lower than the industry average of 8.9%. Sustainability & Growth Dividend is not covered by earnings (113% earnings payout ratio). However, it is covered by cash flows (88% cash payout ratio). The dividend has increased by an average of 6.4% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 26% to bring the payout ratio under control. EPS is expected to grow by 20% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.お知らせ • Dec 11Saigon Cargo Service Corporation Announces 2024 Cash Dividend, Payable on January 08, 2025On December 10, 2024, the BOD of Sai Gon Cargo Service Corporation approved the plan for the 1st payment of 2024 cash dividend as follow: Exercise ratio: 30%/par value (VND 3,000/share). Payment time: January 08, 2025. Record date: December 24, 2024.Price Target Changed • Nov 09Price target decreased by 8.3% to ₫87,033Down from ₫94,933, the current price target is an average from 3 analysts. New target price is 6.9% above last closing price of ₫81,400. Stock is up 27% over the past year. The company is forecast to post earnings per share of ₫6,949 for next year compared to ₫4,638 last year.Reported Earnings • Oct 20Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: ₫265.9b (up 55% from 3Q 2023). Net income: ₫185.8b (up 46% from 3Q 2023). Profit margin: 70% (down from 74% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Logistics industry in Asia.Reported Earnings • Jul 21Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: ₫264.1b (up 53% from 2Q 2023). Net income: ₫189.5b (up 47% from 2Q 2023). Profit margin: 72% (down from 75% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Logistics industry in Asia.Price Target Changed • Jun 13Price target increased by 7.5% to ₫90,500Up from ₫84,167, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ₫87,400. Stock is up 28% over the past year. The company is forecast to post earnings per share of ₫6,163 for next year compared to ₫4,638 last year.Upcoming Dividend • Jun 03Upcoming dividend of ₫3,000 per shareEligible shareholders must have bought the stock before 10 June 2024. Payment date: 26 June 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.0%. Lower than top quartile of Vietnamese dividend payers (8.7%). Lower than average of industry peers (7.2%).お知らせ • May 30Sai Gon Cargo Service Corporation Approves to Pay for the Cash Dividend of 2023, Payable on June 26, 2024The Board of Directors of Sai Gon Cargo Service Corporation approved to pay for the last phase of 2023 dividend in cash: Dividend pay-out ratio: 30%/par value (VND 3,000/share). Record date: June 11, 2024. Payment date: June 26, 2024.Reported Earnings • Apr 20First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: ₫212.8b (up 31% from 1Q 2023). Net income: ₫147.3b (up 30% from 1Q 2023). Profit margin: 69% (in line with 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Logistics industry in Asia.Price Target Changed • Mar 22Price target increased by 9.6% to ₫84,167Up from ₫76,760, the current price target is an average from 3 analysts. New target price is 11% above last closing price of ₫75,500. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₫6,606 for next year compared to ₫4,638 last year.Reported Earnings • Mar 14Full year 2023 earnings released: EPS: ₫4,638 (vs ₫6,161 in FY 2022)Full year 2023 results: EPS: ₫4,638 (down from ₫6,161 in FY 2022). Revenue: ₫704.8b (down 17% from FY 2022). Net income: ₫437.3b (down 24% from FY 2022). Profit margin: 62% (down from 68% in FY 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 8.5% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year.Price Target Changed • Mar 12Price target increased by 7.3% to ₫79,960Up from ₫74,520, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₫79,500. Stock is up 14% over the past year. The company is forecast to post earnings per share of ₫6,606 for next year compared to ₫5,280 last year.お知らせ • Mar 10Saigon Cargo Service Corporation, Annual General Meeting, Apr 26, 2024Saigon Cargo Service Corporation, Annual General Meeting, Apr 26, 2024. Location: 30 Phan Thuc Duyen, ward 4, Tan Binh district, HCMC Tan Binh VietnamMajor Estimate Revision • Feb 22Consensus revenue estimates increase by 22%The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from ₫753.0b to ₫916.0b. EPS estimate increased from ₫5,361 to ₫6,723 per share. Net income forecast to grow 33% next year vs 19% growth forecast for Logistics industry in Vietnam. Consensus price target up from ₫74,520 to ₫76,820. Share price rose 3.9% to ₫75,000 over the past week.Reported Earnings • Jan 21Full year 2023 earnings released: EPS: ₫5,280 (vs ₫6,505 in FY 2022)Full year 2023 results: EPS: ₫5,280 (down from ₫6,505 in FY 2022). Revenue: ₫704.8b (down 17% from FY 2022). Net income: ₫498.3b (down 18% from FY 2022). Profit margin: 71% (down from 72% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Upcoming Dividend • Dec 27Upcoming dividend of ₫2,000 per share at 11% yieldEligible shareholders must have bought the stock before 03 January 2024. Payment date: 19 January 2024. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 11%. Within top quartile of Vietnamese dividend payers (8.8%). In line with average of industry peers (11%).お知らせ • Dec 21Saigon Cargo Service Corporation Announces First Cash Dividend 2023, Payable January 19, 2024On December 18, 2023, the BOD of Sai Gon Cargo Service approved the record date for the 1st cash dividend payment in 2023 as follows: Record date is January 04, 2024. Exercise ratio: 20%/share (VND 2,000 /share). Payment date: January 19, 2024.Reported Earnings • Oct 20Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: ₫171.6b (down 14% from 3Q 2022). Net income: ₫127.6b (down 14% from 3Q 2022). Profit margin: 74% (in line with 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 26Upcoming dividend of ₫3,500 per share at 9.7% yieldEligible shareholders must have bought the stock before 02 August 2023. Payment date: 18 August 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 9.7%. Within top quartile of Vietnamese dividend payers (8.4%). Higher than average of industry peers (4.3%).Reported Earnings • Jul 22Second quarter 2023 earnings released: EPS: ₫1,368 (vs ₫1,629 in 2Q 2022)Second quarter 2023 results: EPS: ₫1,368 (down from ₫1,629 in 2Q 2022). Revenue: ₫172.4b (down 17% from 2Q 2022). Net income: ₫129.1b (down 16% from 2Q 2022). Profit margin: 75% (up from 73% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.お知らせ • Jul 22Sai Gon Cargo Service Corporation Approves Cash Dividend for the Year 2022, Payable on August 18, 2023The Board of Directors of Sai Gon Cargo Service Corporation approved cash dividend of VND 3,500 per share for the year 2022. Record date is August 03, 2023 and Payment date is August 18, 2023.お知らせ • Jul 06Saigon Cargo Service Corporation Announces Executive ChangesSaigon Cargo Service Corporation appointed Bui Thi Thu Huong as Chairman of the BOD; Mr. Nguyen Quoc Khanh as a member of the BOD cum CEO; Nguyen Ngoc Quy, Mai Xuan Canh, Dao Ngoc Cuong and Chu Trung Kien as member of the BOD cum CEO; Ta Thu Ha as independent member of the BOD cum the person in charge of corporate governance; Vu Thi Hoang Bac asHead of the Supervisory Board; Nguyen Thai Son and To Hien Phuong as Deputy CEO; Ngo Thi Anh Thu as Chief Accountant. All Effective date from June 26, 2023.お知らせ • May 13Saigon Cargo Service Corporation, Annual General Meeting, Jun 26, 2023Saigon Cargo Service Corporation, Annual General Meeting, Jun 26, 2023. Location: 30 Phan Thuc Duyen, ward 4, Tan Binh district H? Chí Minh VietnamReported Earnings • Mar 19Full year 2022 earnings released: EPS: ₫6,505 (vs ₫5,635 in FY 2021)Full year 2022 results: EPS: ₫6,505 (up from ₫5,635 in FY 2021). Revenue: ₫851.0b (up 1.4% from FY 2021). Net income: ₫610.7b (up 15% from FY 2021). Profit margin: 72% (up from 63% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year.Reported Earnings • Jan 19Full year 2022 earnings released: EPS: ₫6,883 (vs ₫5,635 in FY 2021)Full year 2022 results: EPS: ₫6,883 (up from ₫5,635 in FY 2021). Revenue: ₫851.0b (up 1.4% from FY 2021). Net income: ₫646.1b (up 22% from FY 2021). Profit margin: 76% (up from 63% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.お知らせ • Dec 03Saigon Cargo Service Corporation Announces Cash Dividend for 2022,Payable on December 29, 2022Saigon Cargo Service Corporation announced cash dividend for 2022. Exercise ratio of 30% VND 2,500 dongs per share, Payable on December 29,2022 and Record date of December 12, 2022.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 not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Thuan Cu was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Price Target Changed • Nov 07Price target decreased to ₫87,767Down from ₫99,689, the current price target is an average from 3 analysts. New target price is 20% above last closing price of ₫73,000. Stock is down 5.7% over the past year. The company is forecast to post earnings per share of ₫6,289 for next year compared to ₫5,635 last year.Reported Earnings • Oct 22Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: ₫200.8b (up 17% from 3Q 2021). Net income: ₫148.3b (up 23% from 3Q 2021). Profit margin: 74% (up from 71% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in Asia.Buying Opportunity • Aug 04Now 44% undervalued after recent price dropOver the last 90 days, the stock is down 50%. The fair value is estimated to be ₫157,622, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 8.4%. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 51% in the next 2 years.Reported Earnings • Jul 21Second quarter 2022 earnings released: EPS: ₫3,014 (vs ₫2,902 in 2Q 2021)Second quarter 2022 results: EPS: ₫3,014 (up from ₫2,902 in 2Q 2021). Revenue: ₫208.8b (flat on 2Q 2021). Net income: ₫153.0b (up 3.9% from 2Q 2021). Profit margin: 73% (up from 71% in 2Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 18% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.お知らせ • May 24Saigon Cargo Service Corporation Announces Cash Dividend for 2021, Payable on June 8, 2022Saigon Cargo Service Corporation announced cash dividend for 2021. Exercise ratio of 30% (3,000 dongs/share), Payment date of June 08, 2022 and Record date of May 20, 2022.Upcoming Dividend • May 12Upcoming dividend of ₫3,000 per shareEligible shareholders must have bought the stock before 19 May 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Vietnamese dividend payers (7.0%). Higher than average of industry peers (2.5%).Price Target Changed • May 08Price target increased to ₫175,867Up from ₫160,300, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₫173,800. Stock is up 38% over the past year. The company is forecast to post earnings per share of ₫12,766 for next year compared to ₫10,425 last year.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 not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Thuan Cu was the last independent director to join the board, commencing their role in 2018. 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 15Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ₫10,425 (up from ₫8,510 in FY 2020). Revenue: ₫839.1b (up 21% from FY 2020). Net income: ₫529.0b (up 23% from FY 2020). Profit margin: 63% (in line with FY 2020). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 18%, compared to a 19% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Reported Earnings • Jan 23Full year 2021 earnings: EPS exceeds analyst expectationsFull year 2021 results: EPS: ₫11,127 (up from ₫8,510 in FY 2020). Revenue: ₫839.1b (up 21% from FY 2020). Net income: ₫564.6b (up 31% from FY 2020). Profit margin: 67% (up from 62% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.3%. Over the next year, revenue is forecast to grow 11%, compared to a 23% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year.Reported Earnings • Jul 22Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫211.9b (up 47% from 2Q 2020). Net income: ₫150.4b (up 51% from 2Q 2020). Profit margin: 71% (up from 69% in 2Q 2020). The increase in margin was driven by higher revenue.Upcoming Dividend • Jun 22Upcoming dividend of ₫5,000 per shareEligible shareholders must have bought the stock before 29 June 2021. Payment date: 15 July 2021. Trailing yield: 5.6%. Lower than top quartile of Vietnamese dividend payers (7.2%). Higher than average of industry peers (4.3%).Reported Earnings • Apr 21First quarter 2021 earnings releasedThe company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₫196.1b (up 6.8% from 1Q 2020). Net income: ₫137.3b (up 13% from 1Q 2020). Profit margin: 70% (up from 66% in 1Q 2020). The increase in margin was primarily driven by higher revenue.Reported Earnings • Mar 21Full year 2020 earnings released: EPS ₫8,510 (vs ₫9,307 in FY 2019)The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ₫692.9b (down 7.4% from FY 2019). Net income: ₫430.4b (down 7.7% from FY 2019). Profit margin: 62% (in line with FY 2019).Price Target Changed • Mar 02Price target raised to ₫144,033Up from ₫134,067, the current price target is an average from 3 analysts. The new target price is 7.5% above the current share price of ₫134,000. As of last close, the stock is up 29% over the past year.Is New 90 Day High Low • Jan 11New 90-day high: ₫130,300The company is up 8.0% from its price of ₫120,700 on 13 October 2020. The Vietnamese market is up 24% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫159,875 per share.Is New 90 Day High Low • Dec 17New 90-day high: ₫129,400The company is up 4.0% from its price of ₫125,000 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 Logistics industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫162,529 per share.Upcoming Dividend • Dec 07Upcoming Dividend of ₫3,000 Per ShareWill be paid on the 30th of December to those who are registered shareholders by the 14th of December. The trailing yield of 6.4% is below the top quartile of Vietnamese dividend payers (8.6%), but it is higher than industry peers (5.4%).お知らせ • Nov 03Sai Gon Cargo Service Corporation Announces Management ChangesSai Gon Cargo Service Corporation announced personnel change. Ms. Ngo Thi Anh Thu was appointed as Deputy head of the financial & accountant department in charge of the financial & accountant department as from October 29, 2020. Chief Accountant Le Xuan Loc retires from November 01, 2020.Reported Earnings • Oct 18Third quarter earnings releasedOver the last 12 months the company has reported total profits of ₫435.0b, down 3.7% from the prior year. Total revenue was ₫694.7b over the last 12 months, down 5.7% from the prior year.お知らせ • Oct 14Saigon Cargo Service Corporation Announces Board ChangesThe BOD of Saigon Cargo Service Corporation, on October 12, 2020, approved to appoint Mr. Mai Xuan Canh as member of BOD of the company to replace Mr. Pham Bich Vuong. On the same day, Mr. Mai Xuan C?nh is the representative of contributed capital of Sai Gon Cargo Service in 41 Aircraf Repairing One Member Limited Company.業績と収益の成長予測HOSE:SCS - 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12/31/2028789,000500,000381,000N/A112/31/20271,000,333579,333388,000647,500312/31/20261,314,000811,000581,000823,50013/31/20261,202,270678,184709,606722,506N/A12/31/20251,196,643674,816726,304735,167N/A9/30/20251,163,705660,235748,017753,244N/A6/30/20251,118,052642,039737,919748,239N/A3/31/20251,090,412642,511713,029729,588N/A12/31/20241,036,882619,872647,021665,756N/A9/30/2024941,639589,915591,735615,656N/A6/30/2024847,315531,752461,457495,398N/A3/31/2024755,591471,341417,219444,695N/A12/31/2023704,825437,251433,279455,210N/A9/30/2023701,550459,516434,473457,935N/A6/30/2023730,744480,246487,453504,614N/A3/31/2023767,150504,081504,144538,740N/A12/31/2022851,018578,413551,281588,443N/A9/30/2022918,198612,276604,214630,050N/A6/30/2022889,138584,949576,361596,562N/A3/31/2022888,920579,251590,743596,793N/A12/31/2021839,106529,027585,577591,166N/A9/30/2021773,867500,128569,056578,290N/A6/30/2021769,635493,773561,055568,176N/A3/31/2021705,298446,229515,391520,978N/A12/31/2020692,853430,401500,227503,804N/A9/30/2020694,694434,980525,303531,193N/A6/30/2020714,072447,626545,518554,952N/A3/31/2020758,886475,785567,641578,444N/A12/31/2019747,976466,180N/A561,871N/A9/30/2019736,372451,732N/A722,797N/A6/30/2019723,015438,371N/A472,910N/A3/31/2019701,012427,888N/A501,855N/A12/31/2018675,369407,132N/A424,275N/A9/30/2018654,725382,643N/A91,604N/A6/30/2018627,813354,776N/A398,582N/A3/31/2018604,619328,765N/A246,109N/A12/31/2017588,317314,461N/A374,671N/A9/30/2017567,352298,398N/A475,628N/A6/30/2017551,442267,887N/A343,218N/A3/31/2017535,962244,774N/A390,137N/A12/31/2016495,913216,226N/A296,110N/A9/30/2016460,015191,688N/A207,791N/A6/30/2016412,253177,158N/A249,498N/A3/31/2016363,941142,525N/A248,475N/A12/31/2015341,091115,259N/A188,475N/A9/30/2015308,40987,839N/A222,141N/A6/30/2015294,20275,037N/A154,103N/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: SCSの収益は今後 3 年間で減少すると予測されています (年間-11.5% )。収益対市場: SCSの収益は今後 3 年間で減少すると予測されています (年間-11.5% )。高成長収益: SCSの収益は今後 3 年間で減少すると予測されています。収益対市場: SCSの収益は今後 3 年間で減少すると予想されています (年間-14.2% )。高い収益成長: SCSの収益は今後 3 年間で減少すると予測されています (年間-14.2% )。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: SCS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7D1Y7D1Y7D1YTransportation 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2026/06/19 10:31終値2026/06/19 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Saigon Cargo Service Corporation 3 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。5 アナリスト機関null nullBIDV Securities Joint Stock CompanyDzung Nguyen TienCGS Internationalnull nullFPT Securities2 その他のアナリストを表示
Major Estimate Revision • Apr 24Consensus EPS estimates increase by 45%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ₫1.24t to ₫1.31t. EPS estimate increased from ₫5,886 to ₫8,550 per share. Net income forecast to grow 11% next year vs 21% growth forecast for Logistics industry in Vietnam. Consensus price target of ₫60,000 unchanged from last update. Share price fell 2.4% to ₫52,700 over the past week.
Price Target Changed • Jan 23Price target decreased by 8.7% to ₫74,225Down from ₫81,300, the current price target is an average from 4 analysts. New target price is 33% above last closing price of ₫56,000. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₫6,222 for next year compared to ₫6,547 last year.
Price Target Changed • Jan 14Price target decreased by 9.2% to ₫76,033Down from ₫83,717, the current price target is an average from 3 analysts. New target price is 38% above last closing price of ₫55,100. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₫6,222 for next year compared to ₫6,547 last year.
Major Estimate Revision • May 31Consensus EPS estimates increase by 32%, revenue downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₫1.15t to ₫1.13t. EPS estimate rose from ₫4,405 to ₫5,821. Net income forecast to grow 11% next year vs 17% growth forecast for Logistics industry in Vietnam. Consensus price target down from ₫81,650 to ₫79,450. Share price was steady at ₫61,900 over the past week.
Price Target Changed • May 30Price target decreased by 8.7% to ₫79,450Down from ₫87,033, the current price target is an average from 2 analysts. New target price is 28% above last closing price of ₫61,900. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₫5,821 for next year compared to ₫6,547 last year.
Price Target Changed • Nov 09Price target decreased by 8.3% to ₫87,033Down from ₫94,933, the current price target is an average from 3 analysts. New target price is 6.9% above last closing price of ₫81,400. Stock is up 27% over the past year. The company is forecast to post earnings per share of ₫6,949 for next year compared to ₫4,638 last year.
Recent Insider Transactions • Jun 11CEO, General Director & Director recently bought ₫495m worth of stockOn the 3rd of June, Khanh Nguyen bought around 50k shares on-market at roughly ₫10,000 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Khanh's only on-market trade for the last 12 months.
Major Estimate Revision • Apr 24Consensus EPS estimates increase by 45%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ₫1.24t to ₫1.31t. EPS estimate increased from ₫5,886 to ₫8,550 per share. Net income forecast to grow 11% next year vs 21% growth forecast for Logistics industry in Vietnam. Consensus price target of ₫60,000 unchanged from last update. Share price fell 2.4% to ₫52,700 over the past week.
Reported Earnings • Apr 19First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: ₫272.0b (up 2.1% from 1Q 2025). Net income: ₫173.3b (up 2.0% from 1Q 2025). Profit margin: 64% (in line with 1Q 2025). Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 8.1%.
Reported Earnings • Mar 12Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: ₫7,112 (up from ₫6,547 in FY 2024). Revenue: ₫1.20t (up 15% from FY 2024). Net income: ₫751.1b (up 21% from FY 2024). Profit margin: 63% (up from 60% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is expected to decline by 13% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 8.0%. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
お知らせ • Mar 10Saigon Cargo Service Corporation, Annual General Meeting, Apr 28, 2026Saigon Cargo Service Corporation, Annual General Meeting, Apr 28, 2026. Location: no. 30 phan thuc duyen street, tan son nhat ward, ho chi minh Vietnam
Price Target Changed • Jan 23Price target decreased by 8.7% to ₫74,225Down from ₫81,300, the current price target is an average from 4 analysts. New target price is 33% above last closing price of ₫56,000. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₫6,222 for next year compared to ₫6,547 last year.
Price Target Changed • Jan 14Price target decreased by 9.2% to ₫76,033Down from ₫83,717, the current price target is an average from 3 analysts. New target price is 38% above last closing price of ₫55,100. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₫6,222 for next year compared to ₫6,547 last year.
Buy Or Sell Opportunity • Jan 14Now 21% overvaluedOver the last 90 days, the stock has fallen 1.1% to ₫55,100. The fair value is estimated to be ₫45,440, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to decline by 9.4% per annum. Earnings are also forecast to decline by 9.6% per annum over the same time period.
Declared Dividend • Dec 11Dividend of ₫2,500 announcedShareholders will receive a dividend of ₫2,500. Ex-date: 19th December 2025 Payment date: 26th January 2026 Dividend yield will be 10%, which is higher than the industry average of 8.9%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio). However, it is covered by cash flows (76% cash payout ratio). The dividend has increased by an average of 6.8% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 7.2% to bring the payout ratio under control. However, EPS is expected to decline by 28% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
Buy Or Sell Opportunity • Nov 18Now 21% overvaluedOver the last 90 days, the stock has fallen 12% to ₫56,200. The fair value is estimated to be ₫46,341, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.3%. For the next 3 years, revenue is forecast to decline by 9.4% per annum. Earnings are also forecast to decline by 9.6% per annum over the same time period.
Reported Earnings • Oct 21Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫311.6b (up 17% from 3Q 2024). Net income: ₫204.0b (up 9.8% from 3Q 2024). Profit margin: 66% (down from 70% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 9.4% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 8.0%.
Upcoming Dividend • Aug 22Upcoming dividend of ₫3,000 per shareEligible shareholders must have bought the stock before 29 August 2025. Payment date: 15 September 2025. Payout ratio and cash payout ratio are on the higher end at 97% and 77% respectively. Trailing yield: 9.2%. Within top quartile of Vietnamese dividend payers (7.4%). Higher than average of industry peers (3.4%).
Reported Earnings • Jul 20Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: ₫291.7b (up 11% from 2Q 2024). Net income: ₫188.9b (flat on 2Q 2024). Profit margin: 65% (down from 72% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 8.5% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 7.6%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Major Estimate Revision • May 31Consensus EPS estimates increase by 32%, revenue downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₫1.15t to ₫1.13t. EPS estimate rose from ₫4,405 to ₫5,821. Net income forecast to grow 11% next year vs 17% growth forecast for Logistics industry in Vietnam. Consensus price target down from ₫81,650 to ₫79,450. Share price was steady at ₫61,900 over the past week.
Price Target Changed • May 30Price target decreased by 8.7% to ₫79,450Down from ₫87,033, the current price target is an average from 2 analysts. New target price is 28% above last closing price of ₫61,900. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₫5,821 for next year compared to ₫6,547 last year.
Buy Or Sell Opportunity • May 15Now 23% overvaluedOver the last 90 days, the stock has fallen 16% to ₫64,700. The fair value is estimated to be ₫52,787, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 7.0% per annum. Earnings are also forecast to decline by 7.6% per annum over the same time period.
お知らせ • May 13Saigon Cargo Service Corporation, Annual General Meeting, Jun 26, 2025Saigon Cargo Service Corporation, Annual General Meeting, Jun 26, 2025. Location: no. 30, phan thuc duyen street, ward 4, tan binh district, hcmc., Vietnam
Reported Earnings • Apr 20First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: ₫266.3b (up 25% from 1Q 2024). Net income: ₫169.9b (up 15% from 1Q 2024). Profit margin: 64% (down from 69% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 7.6%.
New Risk • Apr 18New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 6.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (97% payout ratio).
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to ₫55,800, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Logistics industry in Asia. Total loss to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫56,145 per share.
Buy Or Sell Opportunity • Apr 01Now 21% overvaluedOver the last 90 days, the stock has fallen 13% to ₫70,000. The fair value is estimated to be ₫57,871, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 26% in the next 2 years.
Reported Earnings • Jan 19Full year 2024 earnings released: EPS: ₫7,301 (vs ₫4,638 in FY 2023)Full year 2024 results: EPS: ₫7,301 (up from ₫4,638 in FY 2023). Revenue: ₫1.04t (up 47% from FY 2023). Net income: ₫692.8b (up 58% from FY 2023). Profit margin: 67% (up from 62% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Logistics industry in Asia are expected to grow by 8.3%. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 1% per year.
Declared Dividend • Dec 13Dividend of ₫3,000 announcedShareholders will receive a dividend of ₫3,000. Ex-date: 23rd December 2024 Payment date: 8th January 2025 Dividend yield will be 7.5%, which is lower than the industry average of 8.9%. Sustainability & Growth Dividend is not covered by earnings (113% earnings payout ratio). However, it is covered by cash flows (88% cash payout ratio). The dividend has increased by an average of 6.4% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 26% to bring the payout ratio under control. EPS is expected to grow by 20% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
お知らせ • Dec 11Saigon Cargo Service Corporation Announces 2024 Cash Dividend, Payable on January 08, 2025On December 10, 2024, the BOD of Sai Gon Cargo Service Corporation approved the plan for the 1st payment of 2024 cash dividend as follow: Exercise ratio: 30%/par value (VND 3,000/share). Payment time: January 08, 2025. Record date: December 24, 2024.
Price Target Changed • Nov 09Price target decreased by 8.3% to ₫87,033Down from ₫94,933, the current price target is an average from 3 analysts. New target price is 6.9% above last closing price of ₫81,400. Stock is up 27% over the past year. The company is forecast to post earnings per share of ₫6,949 for next year compared to ₫4,638 last year.
Reported Earnings • Oct 20Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: ₫265.9b (up 55% from 3Q 2023). Net income: ₫185.8b (up 46% from 3Q 2023). Profit margin: 70% (down from 74% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Logistics industry in Asia.
Reported Earnings • Jul 21Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: ₫264.1b (up 53% from 2Q 2023). Net income: ₫189.5b (up 47% from 2Q 2023). Profit margin: 72% (down from 75% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Logistics industry in Asia.
Price Target Changed • Jun 13Price target increased by 7.5% to ₫90,500Up from ₫84,167, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ₫87,400. Stock is up 28% over the past year. The company is forecast to post earnings per share of ₫6,163 for next year compared to ₫4,638 last year.
Upcoming Dividend • Jun 03Upcoming dividend of ₫3,000 per shareEligible shareholders must have bought the stock before 10 June 2024. Payment date: 26 June 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.0%. Lower than top quartile of Vietnamese dividend payers (8.7%). Lower than average of industry peers (7.2%).
お知らせ • May 30Sai Gon Cargo Service Corporation Approves to Pay for the Cash Dividend of 2023, Payable on June 26, 2024The Board of Directors of Sai Gon Cargo Service Corporation approved to pay for the last phase of 2023 dividend in cash: Dividend pay-out ratio: 30%/par value (VND 3,000/share). Record date: June 11, 2024. Payment date: June 26, 2024.
Reported Earnings • Apr 20First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: ₫212.8b (up 31% from 1Q 2023). Net income: ₫147.3b (up 30% from 1Q 2023). Profit margin: 69% (in line with 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Logistics industry in Asia.
Price Target Changed • Mar 22Price target increased by 9.6% to ₫84,167Up from ₫76,760, the current price target is an average from 3 analysts. New target price is 11% above last closing price of ₫75,500. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₫6,606 for next year compared to ₫4,638 last year.
Reported Earnings • Mar 14Full year 2023 earnings released: EPS: ₫4,638 (vs ₫6,161 in FY 2022)Full year 2023 results: EPS: ₫4,638 (down from ₫6,161 in FY 2022). Revenue: ₫704.8b (down 17% from FY 2022). Net income: ₫437.3b (down 24% from FY 2022). Profit margin: 62% (down from 68% in FY 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 8.5% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year.
Price Target Changed • Mar 12Price target increased by 7.3% to ₫79,960Up from ₫74,520, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₫79,500. Stock is up 14% over the past year. The company is forecast to post earnings per share of ₫6,606 for next year compared to ₫5,280 last year.
お知らせ • Mar 10Saigon Cargo Service Corporation, Annual General Meeting, Apr 26, 2024Saigon Cargo Service Corporation, Annual General Meeting, Apr 26, 2024. Location: 30 Phan Thuc Duyen, ward 4, Tan Binh district, HCMC Tan Binh Vietnam
Major Estimate Revision • Feb 22Consensus revenue estimates increase by 22%The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from ₫753.0b to ₫916.0b. EPS estimate increased from ₫5,361 to ₫6,723 per share. Net income forecast to grow 33% next year vs 19% growth forecast for Logistics industry in Vietnam. Consensus price target up from ₫74,520 to ₫76,820. Share price rose 3.9% to ₫75,000 over the past week.
Reported Earnings • Jan 21Full year 2023 earnings released: EPS: ₫5,280 (vs ₫6,505 in FY 2022)Full year 2023 results: EPS: ₫5,280 (down from ₫6,505 in FY 2022). Revenue: ₫704.8b (down 17% from FY 2022). Net income: ₫498.3b (down 18% from FY 2022). Profit margin: 71% (down from 72% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Dec 27Upcoming dividend of ₫2,000 per share at 11% yieldEligible shareholders must have bought the stock before 03 January 2024. Payment date: 19 January 2024. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 11%. Within top quartile of Vietnamese dividend payers (8.8%). In line with average of industry peers (11%).
お知らせ • Dec 21Saigon Cargo Service Corporation Announces First Cash Dividend 2023, Payable January 19, 2024On December 18, 2023, the BOD of Sai Gon Cargo Service approved the record date for the 1st cash dividend payment in 2023 as follows: Record date is January 04, 2024. Exercise ratio: 20%/share (VND 2,000 /share). Payment date: January 19, 2024.
Reported Earnings • Oct 20Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: ₫171.6b (down 14% from 3Q 2022). Net income: ₫127.6b (down 14% from 3Q 2022). Profit margin: 74% (in line with 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 26Upcoming dividend of ₫3,500 per share at 9.7% yieldEligible shareholders must have bought the stock before 02 August 2023. Payment date: 18 August 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 9.7%. Within top quartile of Vietnamese dividend payers (8.4%). Higher than average of industry peers (4.3%).
Reported Earnings • Jul 22Second quarter 2023 earnings released: EPS: ₫1,368 (vs ₫1,629 in 2Q 2022)Second quarter 2023 results: EPS: ₫1,368 (down from ₫1,629 in 2Q 2022). Revenue: ₫172.4b (down 17% from 2Q 2022). Net income: ₫129.1b (down 16% from 2Q 2022). Profit margin: 75% (up from 73% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
お知らせ • Jul 22Sai Gon Cargo Service Corporation Approves Cash Dividend for the Year 2022, Payable on August 18, 2023The Board of Directors of Sai Gon Cargo Service Corporation approved cash dividend of VND 3,500 per share for the year 2022. Record date is August 03, 2023 and Payment date is August 18, 2023.
お知らせ • Jul 06Saigon Cargo Service Corporation Announces Executive ChangesSaigon Cargo Service Corporation appointed Bui Thi Thu Huong as Chairman of the BOD; Mr. Nguyen Quoc Khanh as a member of the BOD cum CEO; Nguyen Ngoc Quy, Mai Xuan Canh, Dao Ngoc Cuong and Chu Trung Kien as member of the BOD cum CEO; Ta Thu Ha as independent member of the BOD cum the person in charge of corporate governance; Vu Thi Hoang Bac asHead of the Supervisory Board; Nguyen Thai Son and To Hien Phuong as Deputy CEO; Ngo Thi Anh Thu as Chief Accountant. All Effective date from June 26, 2023.
お知らせ • May 13Saigon Cargo Service Corporation, Annual General Meeting, Jun 26, 2023Saigon Cargo Service Corporation, Annual General Meeting, Jun 26, 2023. Location: 30 Phan Thuc Duyen, ward 4, Tan Binh district H? Chí Minh Vietnam
Reported Earnings • Mar 19Full year 2022 earnings released: EPS: ₫6,505 (vs ₫5,635 in FY 2021)Full year 2022 results: EPS: ₫6,505 (up from ₫5,635 in FY 2021). Revenue: ₫851.0b (up 1.4% from FY 2021). Net income: ₫610.7b (up 15% from FY 2021). Profit margin: 72% (up from 63% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year.
Reported Earnings • Jan 19Full year 2022 earnings released: EPS: ₫6,883 (vs ₫5,635 in FY 2021)Full year 2022 results: EPS: ₫6,883 (up from ₫5,635 in FY 2021). Revenue: ₫851.0b (up 1.4% from FY 2021). Net income: ₫646.1b (up 22% from FY 2021). Profit margin: 76% (up from 63% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Logistics industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
お知らせ • Dec 03Saigon Cargo Service Corporation Announces Cash Dividend for 2022,Payable on December 29, 2022Saigon Cargo Service Corporation announced cash dividend for 2022. Exercise ratio of 30% VND 2,500 dongs per share, Payable on December 29,2022 and Record date of December 12, 2022.
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 not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Thuan Cu was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Price Target Changed • Nov 07Price target decreased to ₫87,767Down from ₫99,689, the current price target is an average from 3 analysts. New target price is 20% above last closing price of ₫73,000. Stock is down 5.7% over the past year. The company is forecast to post earnings per share of ₫6,289 for next year compared to ₫5,635 last year.
Reported Earnings • Oct 22Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: ₫200.8b (up 17% from 3Q 2021). Net income: ₫148.3b (up 23% from 3Q 2021). Profit margin: 74% (up from 71% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in Asia.
Buying Opportunity • Aug 04Now 44% undervalued after recent price dropOver the last 90 days, the stock is down 50%. The fair value is estimated to be ₫157,622, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 8.4%. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 51% in the next 2 years.
Reported Earnings • Jul 21Second quarter 2022 earnings released: EPS: ₫3,014 (vs ₫2,902 in 2Q 2021)Second quarter 2022 results: EPS: ₫3,014 (up from ₫2,902 in 2Q 2021). Revenue: ₫208.8b (flat on 2Q 2021). Net income: ₫153.0b (up 3.9% from 2Q 2021). Profit margin: 73% (up from 71% in 2Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 18% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
お知らせ • May 24Saigon Cargo Service Corporation Announces Cash Dividend for 2021, Payable on June 8, 2022Saigon Cargo Service Corporation announced cash dividend for 2021. Exercise ratio of 30% (3,000 dongs/share), Payment date of June 08, 2022 and Record date of May 20, 2022.
Upcoming Dividend • May 12Upcoming dividend of ₫3,000 per shareEligible shareholders must have bought the stock before 19 May 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Vietnamese dividend payers (7.0%). Higher than average of industry peers (2.5%).
Price Target Changed • May 08Price target increased to ₫175,867Up from ₫160,300, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₫173,800. Stock is up 38% over the past year. The company is forecast to post earnings per share of ₫12,766 for next year compared to ₫10,425 last year.
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 not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Thuan Cu was the last independent director to join the board, commencing their role in 2018. 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 15Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: ₫10,425 (up from ₫8,510 in FY 2020). Revenue: ₫839.1b (up 21% from FY 2020). Net income: ₫529.0b (up 23% from FY 2020). Profit margin: 63% (in line with FY 2020). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 18%, compared to a 19% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Reported Earnings • Jan 23Full year 2021 earnings: EPS exceeds analyst expectationsFull year 2021 results: EPS: ₫11,127 (up from ₫8,510 in FY 2020). Revenue: ₫839.1b (up 21% from FY 2020). Net income: ₫564.6b (up 31% from FY 2020). Profit margin: 67% (up from 62% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.3%. Over the next year, revenue is forecast to grow 11%, compared to a 23% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year.
Reported Earnings • Jul 22Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫211.9b (up 47% from 2Q 2020). Net income: ₫150.4b (up 51% from 2Q 2020). Profit margin: 71% (up from 69% in 2Q 2020). The increase in margin was driven by higher revenue.
Upcoming Dividend • Jun 22Upcoming dividend of ₫5,000 per shareEligible shareholders must have bought the stock before 29 June 2021. Payment date: 15 July 2021. Trailing yield: 5.6%. Lower than top quartile of Vietnamese dividend payers (7.2%). Higher than average of industry peers (4.3%).
Reported Earnings • Apr 21First quarter 2021 earnings releasedThe company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₫196.1b (up 6.8% from 1Q 2020). Net income: ₫137.3b (up 13% from 1Q 2020). Profit margin: 70% (up from 66% in 1Q 2020). The increase in margin was primarily driven by higher revenue.
Reported Earnings • Mar 21Full year 2020 earnings released: EPS ₫8,510 (vs ₫9,307 in FY 2019)The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ₫692.9b (down 7.4% from FY 2019). Net income: ₫430.4b (down 7.7% from FY 2019). Profit margin: 62% (in line with FY 2019).
Price Target Changed • Mar 02Price target raised to ₫144,033Up from ₫134,067, the current price target is an average from 3 analysts. The new target price is 7.5% above the current share price of ₫134,000. As of last close, the stock is up 29% over the past year.
Is New 90 Day High Low • Jan 11New 90-day high: ₫130,300The company is up 8.0% from its price of ₫120,700 on 13 October 2020. The Vietnamese market is up 24% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫159,875 per share.
Is New 90 Day High Low • Dec 17New 90-day high: ₫129,400The company is up 4.0% from its price of ₫125,000 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 Logistics industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫162,529 per share.
Upcoming Dividend • Dec 07Upcoming Dividend of ₫3,000 Per ShareWill be paid on the 30th of December to those who are registered shareholders by the 14th of December. The trailing yield of 6.4% is below the top quartile of Vietnamese dividend payers (8.6%), but it is higher than industry peers (5.4%).
お知らせ • Nov 03Sai Gon Cargo Service Corporation Announces Management ChangesSai Gon Cargo Service Corporation announced personnel change. Ms. Ngo Thi Anh Thu was appointed as Deputy head of the financial & accountant department in charge of the financial & accountant department as from October 29, 2020. Chief Accountant Le Xuan Loc retires from November 01, 2020.
Reported Earnings • Oct 18Third quarter earnings releasedOver the last 12 months the company has reported total profits of ₫435.0b, down 3.7% from the prior year. Total revenue was ₫694.7b over the last 12 months, down 5.7% from the prior year.
お知らせ • Oct 14Saigon Cargo Service Corporation Announces Board ChangesThe BOD of Saigon Cargo Service Corporation, on October 12, 2020, approved to appoint Mr. Mai Xuan Canh as member of BOD of the company to replace Mr. Pham Bich Vuong. On the same day, Mr. Mai Xuan C?nh is the representative of contributed capital of Sai Gon Cargo Service in 41 Aircraf Repairing One Member Limited Company.