View Future GrowthDS3 과거 순이익 실적과거 기준 점검 2/6DS3은 연평균 43.9%의 비율로 수입이 증가해 온 반면, Shipping 산업은 수입이 4.5% 증가했습니다. 매출은 연평균 64%의 비율로 증가했습니다. DS3의 자기자본이익률은 7.1%이고 순이익률은 11.3%입니다.핵심 정보43.91%순이익 성장률61.23%주당순이익(EPS) 성장률Shipping 산업 성장률-0.67%매출 성장률63.98%자기자본이익률7.10%순이익률11.31%최근 순이익 업데이트31 Mar 2026최근 과거 실적 업데이트Reported Earnings • Feb 07Full year 2025 earnings released: EPS: ₫906 (vs ₫827 in FY 2024)Full year 2025 results: EPS: ₫906 (up from ₫827 in FY 2024). Revenue: ₫67.8b (up 32% from FY 2024). Net income: ₫9.66b (up 9.5% from FY 2024). Profit margin: 14% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 01Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫11.7b (up 17% from 3Q 2024). Net income: ₫3.24b (up ₫2.76b from 3Q 2024). Profit margin: 28% (up from 4.7% in 3Q 2024). The increase in margin was primarily driven by higher revenue.Reported Earnings • Aug 01Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: ₫32.1b (up 427% from 2Q 2024). Net income: ₫5.08b (up ₫4.82b from 2Q 2024). Profit margin: 16% (up from 4.2% in 2Q 2024). The increase in margin was driven by higher revenue.Reported Earnings • Feb 11Full year 2024 earnings released: EPS: ₫917 (vs ₫274 in FY 2023)Full year 2024 results: EPS: ₫917 (up from ₫274 in FY 2023). Revenue: ₫51.2b (up 72% from FY 2023). Net income: ₫9.79b (up 235% from FY 2023). Profit margin: 19% (up from 9.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 09Third quarter 2024 earnings released: EPS: ₫44.36 (vs ₫327 loss in 3Q 2023)Third quarter 2024 results: EPS: ₫44.36 (up from ₫327 loss in 3Q 2023). Net income: ₫473.3m (up ₫3.97b from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.Reported Earnings • Feb 02Full year 2023 earnings released: EPS: ₫274 (vs ₫3,405 loss in FY 2022)Full year 2023 results: EPS: ₫274 (up from ₫3,405 loss in FY 2022). Revenue: ₫29.7b (up ₫26.0b from FY 2022). Net income: ₫2.92b (up ₫39.3b from FY 2022). Profit margin: 9.8% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.모든 업데이트 보기Recent updatesNew Risk • May 29New 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Market cap is less than US$10m (₫48.0b market cap, or US$1.82m). Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Revenue is less than US$5m (₫62b revenue, or US$2.4m).New Risk • Mar 31New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$10m (₫56.5b market cap, or US$2.15m). Minor Risk Revenue is less than US$5m (₫68b revenue, or US$2.6m).공고 • Mar 12DS3 Joint Stock Company, Annual General Meeting, Apr 23, 2026DS3 Joint Stock Company, Annual General Meeting, Apr 23, 2026. Location: 3rd floor hall, ds3 jsc, group 2, area 2, ha long ward, quang ninh province, VietnamReported Earnings • Feb 07Full year 2025 earnings released: EPS: ₫906 (vs ₫827 in FY 2024)Full year 2025 results: EPS: ₫906 (up from ₫827 in FY 2024). Revenue: ₫67.8b (up 32% from FY 2024). Net income: ₫9.66b (up 9.5% from FY 2024). Profit margin: 14% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.New Risk • Jan 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₫66.2b market cap, or US$2.51m). Minor Risks High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (6.4% average weekly change). Revenue is less than US$5m (₫82b revenue, or US$3.1m).Reported Earnings • Nov 01Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫11.7b (up 17% from 3Q 2024). Net income: ₫3.24b (up ₫2.76b from 3Q 2024). Profit margin: 28% (up from 4.7% in 3Q 2024). The increase in margin was primarily driven by higher revenue.Reported Earnings • Aug 01Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: ₫32.1b (up 427% from 2Q 2024). Net income: ₫5.08b (up ₫4.82b from 2Q 2024). Profit margin: 16% (up from 4.2% in 2Q 2024). The increase in margin was driven by higher revenue.공고 • Feb 26Riverway Management Joint Stock No.3, Annual General Meeting, Apr 04, 2025Riverway Management Joint Stock No.3, Annual General Meeting, Apr 04, 2025. Location: 3rd floor hall of ds3 joint stock company, group 2, area 2, hong ha ward, ha long, quang ninh VietnamReported Earnings • Feb 11Full year 2024 earnings released: EPS: ₫917 (vs ₫274 in FY 2023)Full year 2024 results: EPS: ₫917 (up from ₫274 in FY 2023). Revenue: ₫51.2b (up 72% from FY 2023). Net income: ₫9.79b (up 235% from FY 2023). Profit margin: 19% (up from 9.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 09Third quarter 2024 earnings released: EPS: ₫44.36 (vs ₫327 loss in 3Q 2023)Third quarter 2024 results: EPS: ₫44.36 (up from ₫327 loss in 3Q 2023). Net income: ₫473.3m (up ₫3.97b from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.New Risk • Aug 15New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.2% average weekly change). High level of non-cash earnings (33% accrual ratio). Market cap is less than US$10m (₫64.0b market cap, or US$2.56m). Minor Risk Revenue is less than US$5m (₫41b revenue, or US$1.6m).New Risk • Aug 04New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (25% accrual ratio). Market cap is less than US$10m (₫67.2b market cap, or US$2.69m). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (₫41b revenue, or US$1.6m).Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₫7,100, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 15x in the Shipping industry in Vietnam. Total returns to shareholders of 22% over the past three years.Reported Earnings • Feb 02Full year 2023 earnings released: EPS: ₫274 (vs ₫3,405 loss in FY 2022)Full year 2023 results: EPS: ₫274 (up from ₫3,405 loss in FY 2022). Revenue: ₫29.7b (up ₫26.0b from FY 2022). Net income: ₫2.92b (up ₫39.3b from FY 2022). Profit margin: 9.8% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Reported Earnings • Apr 06Full year 2022 earnings released: ₫3,405 loss per share (vs ₫686 profit in FY 2021)Full year 2022 results: ₫3,405 loss per share (down from ₫686 profit in FY 2021). Net loss: ₫36.3b (down ₫44.0b from profit in FY 2021).공고 • Feb 17Hoang Ha Phuong acquired 4.97% Riverway Management Joint Stock No.3.Hoang Ha Phuong acquired 4.97% Riverway Management Joint Stock No.3 on February 8, 2023. Hoang Ha Phuong completed the acquisition of 4.97% Riverway Management Joint Stock No.3 on February 8, 2023.Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Minh Thi Le was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Oct 06Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ₫3,300, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 7x in the Shipping industry in Asia. Total returns to shareholders of 37% over the past three years.Valuation Update With 7 Day Price Move • Sep 13Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₫4,300, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 7x in the Shipping industry in Asia. Total returns to shareholders of 68% over the past three years.Reported Earnings • Aug 05Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: ₫0 (down 100% from 2Q 2021). Net loss: ₫890.1m (down 150% from profit in 2Q 2021). Profit margin: (down from 15% in 2Q 2021). The decrease in margin was driven by lower revenue.Valuation Update With 7 Day Price Move • Jun 07Investor sentiment improved over the past weekAfter last week's 17% share price gain to ₫6,100, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 9x in the Shipping industry in Vietnam. Total returns to shareholders of 137% over the past three years.Valuation Update With 7 Day Price Move • May 09Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to ₫6,000, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 10x in the Shipping industry in Vietnam. Total returns to shareholders of 127% over the past three years.Board Change • Apr 27No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Chief Accountant & Director Le Bui was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Apr 21Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to ₫6,700, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 10x in the Shipping industry in Vietnam. Total returns to shareholders of 174% over the past three years.Upcoming Dividend • Jul 14Inaugural dividend of ₫600 per shareEligible shareholders must have bought the stock before 21 July 2021. Payment date: 28 November 2021. This is the first dividend for Inland Waterway Management No 3 since going public. The average dividend yield among industry peers is 5.5%.Is New 90 Day High Low • Feb 26New 90-day high: ₫6,000The company is up 50% from its price of ₫4,000 on 27 November 2020. The Vietnamese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 26% over the same period.Is New 90 Day High Low • Jan 08New 90-day high: ₫5,100The company is up 28% from its price of ₫4,000 on 09 October 2020. The Vietnamese market is up 23% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 36% over the same period.Is New 90 Day High Low • Dec 21New 90-day high: ₫4,500The company is up 7.0% from its price of ₫4,200 on 22 September 2020. The Vietnamese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 34% over the same period.매출 및 비용 세부 내역DS3가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이HNX:DS3 매출, 비용 및 순이익 (VND Millions)날짜매출순이익일반관리비연구개발비31 Mar 2662,2347,0424,248031 Dec 2567,8258,6834,605030 Sep 2582,30916,6965,985030 Jun 2580,61513,9335,458031 Mar 2554,6419,1334,790031 Dec 2451,2438,8274,249030 Sep 2451,53014,4573,756030 Jun 2440,5064,0503,791031 Mar 2434,7254,2313,748031 Dec 2329,6442,8294,081030 Sep 23-3,870-43,93631,557030 Jun 23670-35,47631,825031 Mar 23370-36,73531,807031 Dec 223,727-36,33532,824030 Sep 2219,325-1,6027,712030 Jun 2227,0442,1128,343031 Mar 2236,4824,9609,643031 Dec 2142,5637,7039,7310양질의 수익: DS3는 고품질 수익을 보유하고 있습니다.이익 마진 증가: DS3의 현재 순 이익률 (11.3%)은 지난해 (16.7%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: DS3는 지난 5년 동안 흑자전환하며 연평균 43.9%의 수익 성장을 기록했습니다.성장 가속화: DS3은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.수익 대 산업: DS3은 지난 1년 동안 수익이 감소(-22.9%)하여 Shipping 업계 평균(27.5%)과 비교하기 어렵습니다.자기자본이익률높은 ROE: DS3의 자본 수익률(7.1%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YTransportation 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/18 17:16종가2026/07/17 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스DS3 Joint Stock Company는 0명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
Reported Earnings • Feb 07Full year 2025 earnings released: EPS: ₫906 (vs ₫827 in FY 2024)Full year 2025 results: EPS: ₫906 (up from ₫827 in FY 2024). Revenue: ₫67.8b (up 32% from FY 2024). Net income: ₫9.66b (up 9.5% from FY 2024). Profit margin: 14% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 01Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫11.7b (up 17% from 3Q 2024). Net income: ₫3.24b (up ₫2.76b from 3Q 2024). Profit margin: 28% (up from 4.7% in 3Q 2024). The increase in margin was primarily driven by higher revenue.
Reported Earnings • Aug 01Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: ₫32.1b (up 427% from 2Q 2024). Net income: ₫5.08b (up ₫4.82b from 2Q 2024). Profit margin: 16% (up from 4.2% in 2Q 2024). The increase in margin was driven by higher revenue.
Reported Earnings • Feb 11Full year 2024 earnings released: EPS: ₫917 (vs ₫274 in FY 2023)Full year 2024 results: EPS: ₫917 (up from ₫274 in FY 2023). Revenue: ₫51.2b (up 72% from FY 2023). Net income: ₫9.79b (up 235% from FY 2023). Profit margin: 19% (up from 9.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 09Third quarter 2024 earnings released: EPS: ₫44.36 (vs ₫327 loss in 3Q 2023)Third quarter 2024 results: EPS: ₫44.36 (up from ₫327 loss in 3Q 2023). Net income: ₫473.3m (up ₫3.97b from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
Reported Earnings • Feb 02Full year 2023 earnings released: EPS: ₫274 (vs ₫3,405 loss in FY 2022)Full year 2023 results: EPS: ₫274 (up from ₫3,405 loss in FY 2022). Revenue: ₫29.7b (up ₫26.0b from FY 2022). Net income: ₫2.92b (up ₫39.3b from FY 2022). Profit margin: 9.8% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
New Risk • May 29New 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Market cap is less than US$10m (₫48.0b market cap, or US$1.82m). Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Revenue is less than US$5m (₫62b revenue, or US$2.4m).
New Risk • Mar 31New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$10m (₫56.5b market cap, or US$2.15m). Minor Risk Revenue is less than US$5m (₫68b revenue, or US$2.6m).
공고 • Mar 12DS3 Joint Stock Company, Annual General Meeting, Apr 23, 2026DS3 Joint Stock Company, Annual General Meeting, Apr 23, 2026. Location: 3rd floor hall, ds3 jsc, group 2, area 2, ha long ward, quang ninh province, Vietnam
Reported Earnings • Feb 07Full year 2025 earnings released: EPS: ₫906 (vs ₫827 in FY 2024)Full year 2025 results: EPS: ₫906 (up from ₫827 in FY 2024). Revenue: ₫67.8b (up 32% from FY 2024). Net income: ₫9.66b (up 9.5% from FY 2024). Profit margin: 14% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
New Risk • Jan 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₫66.2b market cap, or US$2.51m). Minor Risks High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (6.4% average weekly change). Revenue is less than US$5m (₫82b revenue, or US$3.1m).
Reported Earnings • Nov 01Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: ₫11.7b (up 17% from 3Q 2024). Net income: ₫3.24b (up ₫2.76b from 3Q 2024). Profit margin: 28% (up from 4.7% in 3Q 2024). The increase in margin was primarily driven by higher revenue.
Reported Earnings • Aug 01Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: ₫32.1b (up 427% from 2Q 2024). Net income: ₫5.08b (up ₫4.82b from 2Q 2024). Profit margin: 16% (up from 4.2% in 2Q 2024). The increase in margin was driven by higher revenue.
공고 • Feb 26Riverway Management Joint Stock No.3, Annual General Meeting, Apr 04, 2025Riverway Management Joint Stock No.3, Annual General Meeting, Apr 04, 2025. Location: 3rd floor hall of ds3 joint stock company, group 2, area 2, hong ha ward, ha long, quang ninh Vietnam
Reported Earnings • Feb 11Full year 2024 earnings released: EPS: ₫917 (vs ₫274 in FY 2023)Full year 2024 results: EPS: ₫917 (up from ₫274 in FY 2023). Revenue: ₫51.2b (up 72% from FY 2023). Net income: ₫9.79b (up 235% from FY 2023). Profit margin: 19% (up from 9.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 09Third quarter 2024 earnings released: EPS: ₫44.36 (vs ₫327 loss in 3Q 2023)Third quarter 2024 results: EPS: ₫44.36 (up from ₫327 loss in 3Q 2023). Net income: ₫473.3m (up ₫3.97b from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
New Risk • Aug 15New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.2% average weekly change). High level of non-cash earnings (33% accrual ratio). Market cap is less than US$10m (₫64.0b market cap, or US$2.56m). Minor Risk Revenue is less than US$5m (₫41b revenue, or US$1.6m).
New Risk • Aug 04New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (25% accrual ratio). Market cap is less than US$10m (₫67.2b market cap, or US$2.69m). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (₫41b revenue, or US$1.6m).
Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improves as stock rises 16%After last week's 16% share price gain to ₫7,100, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 15x in the Shipping industry in Vietnam. Total returns to shareholders of 22% over the past three years.
Reported Earnings • Feb 02Full year 2023 earnings released: EPS: ₫274 (vs ₫3,405 loss in FY 2022)Full year 2023 results: EPS: ₫274 (up from ₫3,405 loss in FY 2022). Revenue: ₫29.7b (up ₫26.0b from FY 2022). Net income: ₫2.92b (up ₫39.3b from FY 2022). Profit margin: 9.8% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Reported Earnings • Apr 06Full year 2022 earnings released: ₫3,405 loss per share (vs ₫686 profit in FY 2021)Full year 2022 results: ₫3,405 loss per share (down from ₫686 profit in FY 2021). Net loss: ₫36.3b (down ₫44.0b from profit in FY 2021).
공고 • Feb 17Hoang Ha Phuong acquired 4.97% Riverway Management Joint Stock No.3.Hoang Ha Phuong acquired 4.97% Riverway Management Joint Stock No.3 on February 8, 2023. Hoang Ha Phuong completed the acquisition of 4.97% Riverway Management Joint Stock No.3 on February 8, 2023.
Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Minh Thi Le was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Oct 06Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to ₫3,300, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 7x in the Shipping industry in Asia. Total returns to shareholders of 37% over the past three years.
Valuation Update With 7 Day Price Move • Sep 13Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to ₫4,300, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 7x in the Shipping industry in Asia. Total returns to shareholders of 68% over the past three years.
Reported Earnings • Aug 05Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: ₫0 (down 100% from 2Q 2021). Net loss: ₫890.1m (down 150% from profit in 2Q 2021). Profit margin: (down from 15% in 2Q 2021). The decrease in margin was driven by lower revenue.
Valuation Update With 7 Day Price Move • Jun 07Investor sentiment improved over the past weekAfter last week's 17% share price gain to ₫6,100, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 9x in the Shipping industry in Vietnam. Total returns to shareholders of 137% over the past three years.
Valuation Update With 7 Day Price Move • May 09Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to ₫6,000, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 10x in the Shipping industry in Vietnam. Total returns to shareholders of 127% over the past three years.
Board Change • Apr 27No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Chief Accountant & Director Le Bui was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Apr 21Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to ₫6,700, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 10x in the Shipping industry in Vietnam. Total returns to shareholders of 174% over the past three years.
Upcoming Dividend • Jul 14Inaugural dividend of ₫600 per shareEligible shareholders must have bought the stock before 21 July 2021. Payment date: 28 November 2021. This is the first dividend for Inland Waterway Management No 3 since going public. The average dividend yield among industry peers is 5.5%.
Is New 90 Day High Low • Feb 26New 90-day high: ₫6,000The company is up 50% from its price of ₫4,000 on 27 November 2020. The Vietnamese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 26% over the same period.
Is New 90 Day High Low • Jan 08New 90-day high: ₫5,100The company is up 28% from its price of ₫4,000 on 09 October 2020. The Vietnamese market is up 23% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 36% over the same period.
Is New 90 Day High Low • Dec 21New 90-day high: ₫4,500The company is up 7.0% from its price of ₫4,200 on 22 September 2020. The Vietnamese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 34% over the same period.