Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫24,250, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 8x in the Logistics industry in Vietnam. Total loss to shareholders of 49% over the past three years. New Risk • Jun 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₫2.56t (US$97.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (24% accrual ratio). Minor Risk Market cap is less than US$100m (₫2.56t market cap, or US$97.3m). New Risk • May 03
New major risk - Revenue and earnings growth Earnings have declined by 0.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫35,700, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 9x in the Logistics industry in Vietnam. Total loss to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫30,350, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 10x in the Logistics industry in Vietnam. Total loss to shareholders of 37% over the past three years. 공고 • Feb 16
South Logistics Joint Stock Company, Annual General Meeting, Apr 23, 2026 South Logistics Joint Stock Company, Annual General Meeting, Apr 23, 2026. Location: no 298 huynh tan phat, tan thuan ward, ho chi minh Vietnam Reported Earnings • Feb 03
Full year 2025 earnings released: EPS: ₫2,990 (vs ₫1,960 in FY 2024) Full year 2025 results: EPS: ₫2,990 (up from ₫1,960 in FY 2024). Revenue: ₫2.59t (up 5.5% from FY 2024). Net income: ₫293.8b (up 53% from FY 2024). Profit margin: 11% (up from 7.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫38,900, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 13x in the Logistics industry in Vietnam. Total loss to shareholders of 2.8% over the past three years. Reported Earnings • Nov 05
Third quarter 2025 earnings released: EPS: ₫835 (vs ₫991 in 3Q 2024) Third quarter 2025 results: EPS: ₫835. Revenue: ₫662.2b (flat on 3Q 2024). Net income: ₫82.1b (up 51% from 3Q 2024). Profit margin: 12% (up from 8.2% in 3Q 2024). Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: ₫796 (vs ₫443 in 2Q 2024) Second quarter 2025 results: EPS: ₫796 (up from ₫443 in 2Q 2024). Revenue: ₫677.7b (up 11% from 2Q 2024). Net income: ₫78.2b (up 80% from 2Q 2024). Profit margin: 12% (up from 7.1% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. 공고 • Mar 22
South Logistics Joint Stock Company, Annual General Meeting, May 16, 2025 South Logistics Joint Stock Company, Annual General Meeting, May 16, 2025. Location: 298 huynh tan phat, tan thuan tay ward, d, district 7, hcmc., Vietnam Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: ₫991 (vs ₫434 in 3Q 2023) Third quarter 2024 results: EPS: ₫991 (up from ₫434 in 3Q 2023). Revenue: ₫661.8b (up 56% from 3Q 2023). Net income: ₫54.4b (up 28% from 3Q 2023). Profit margin: 8.2% (down from 10.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. New Risk • Aug 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.6% Last year net profit margin: 9.9% 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: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.6% net profit margin). 공고 • May 08
South Logistics Joint Stock Company, Annual General Meeting, Jun 21, 2024 South Logistics Joint Stock Company, Annual General Meeting, Jun 21, 2024. Location: No.298 Huynh Tan Phat street, Tan Thuan Tay ward, district 7, HCMC Vietnam Reported Earnings • May 01
First quarter 2024 earnings released: EPS: ₫438 (vs ₫405 in 1Q 2023) First quarter 2024 results: EPS: ₫438 (up from ₫405 in 1Q 2023). Revenue: ₫475.8b (up 23% from 1Q 2023). Net income: ₫43.1b (up 8.3% from 1Q 2023). Profit margin: 9.1% (down from 10% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. New Risk • Apr 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Large one-off items impacting financial results. New Risk • Aug 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 31
Second quarter 2023 earnings released: EPS: ₫793 (vs ₫690 in 2Q 2022) Second quarter 2023 results: EPS: ₫793 (up from ₫690 in 2Q 2022). Revenue: ₫453.2b (down 34% from 2Q 2022). Net income: ₫77.9b (up 15% from 2Q 2022). Profit margin: 17% (up from 9.9% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. 공고 • Jul 12
South Logistics Joint Stock Company Appoints Dang Vu Thanh as CEO Cum the Legal Representative South Logistics Joint Stock Company appointed Mr. Dang Vu Thanh as CEO cum the legal representative, effective from July 01, 2023. 공고 • May 27
PSA Cargo Solutions Vietnam Investments Pte Ltd. acquired an unknown minority stake in South Logistics Joint Stock Company (HOSE:STG) from Indo Trans Logistics Corporation. PSA Cargo Solutions Vietnam Investments Pte Ltd. acquired an unknown minority stake in South Logistics Joint Stock Company (HOSE:STG) from Indo Trans Logistics Corporation on May 26, 2023.
PSA Cargo Solutions Vietnam Investments Pte Ltd. completed the acquisition of an unknown minority stake in South Logistics Joint Stock Company (HOSE:STG) from Indo Trans Logistics Corporation on May 26, 2023. 공고 • May 09
South Logistics Joint Stock Company, Annual General Meeting, Jun 21, 2023 South Logistics Joint Stock Company, Annual General Meeting, Jun 21, 2023. Location: South Logistics Joint Stock Company Ho Chi Minh City Vietnam Reported Earnings • May 04
First quarter 2023 earnings released: EPS: ₫405 (vs ₫632 in 1Q 2022) First quarter 2023 results: EPS: ₫405 (down from ₫632 in 1Q 2022). Revenue: ₫385.4b (down 48% from 1Q 2022). Net income: ₫39.8b (down 36% from 1Q 2022). Profit margin: 10% (up from 8.4% in 1Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 01
Full year 2022 earnings released: EPS: ₫2,466 (vs ₫2,369 in FY 2021) Full year 2022 results: EPS: ₫2,466 (up from ₫2,369 in FY 2021). Revenue: ₫2.64t (down 8.6% from FY 2021). Net income: ₫242.3b (up 4.1% from FY 2021). Profit margin: 9.2% (up from 8.1% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 41% per year whereas the company’s share price has increased by 37% per year. 공고 • Jan 28
South Logistics Joint Stock Company Appoints Nguyen Mai Khanh Trinh as Chief Financial Officer On January 18, 2023, the BOD of South Logistics Joint Stock Company approved the appointment of Mr. Nguyen Mai Khanh Trinh as Chief Financial Officer (CFO) of the Company from January 18, 2023. Board Change • Nov 16
No independent directors Following 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. CEO & Director Thanh Dang was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: ₫688 (vs ₫645 in 3Q 2021) Third quarter 2022 results: EPS: ₫688 (up from ₫645 in 3Q 2021). Revenue: ₫642.2b (down 20% from 3Q 2021). Net income: ₫67.6b (up 6.6% from 3Q 2021). Profit margin: 11% (up from 7.9% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 20% share price gain to ₫42,200, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 11x in the Logistics industry in Vietnam. Total returns to shareholders of 217% over the past three years. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improved over the past week After last week's 20% share price gain to ₫32,350, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 12x in the Logistics industry in Vietnam. Total returns to shareholders of 138% over the past three years. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: ₫676 (vs ₫711 in 2Q 2021) Second quarter 2022 results: EPS: ₫676 (down from ₫711 in 2Q 2021). Revenue: ₫686.8b (down 9.7% from 2Q 2021). Net income: ₫66.4b (down 4.9% from 2Q 2021). Profit margin: 9.7% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. 공고 • May 20
South Logistics Joint Stock Company Announces Management Changes South Logistics Joint Stock Company announced appointment of Mr. Tran Tuan Anh, Chairman of the BOD and Ms. Tran Thi Cam Tu, in charge of corporate governance cum a secretary and Mr. Dang Doan Kien resigned position: member of Audited Committee. Effective on May 12, 2022. . Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: ₫632 (vs ₫591 in 1Q 2021) First quarter 2022 results: EPS: ₫632 (up from ₫591 in 1Q 2021). Revenue: ₫737.1b (up 25% from 1Q 2021). Net income: ₫62.1b (up 6.9% from 1Q 2021). Profit margin: 8.4% (down from 9.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. CEO & Director Thanh Dang was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: ₫2,346 (vs ₫1,085 in FY 2020) Full year 2021 results: EPS: ₫2,346 (up from ₫1,085 in FY 2020). Revenue: ₫2.97t (up 46% from FY 2020). Net income: ₫230.5b (up 116% from FY 2020). Profit margin: 7.8% (up from 5.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫2,346 (up from ₫1,085 in FY 2020). Revenue: ₫2.97t (up 46% from FY 2020). Net income: ₫230.5b (up 116% from FY 2020). Profit margin: 7.8% (up from 5.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 16% share price gain to ₫20,200, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 20x in the Logistics industry in Asia. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 20% share price gain to ₫18,800, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 20x in the Logistics industry in Asia. Total returns to shareholders of 16% over the past three years. Reported Earnings • Feb 04
Full year 2020 earnings released: EPS ₫1,031 (vs ₫1,097 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ₫2.03t (up 11% from FY 2019). Net income: ₫101.3b (down 6.0% from FY 2019). Profit margin: 5.0% (down from 5.9% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 22
New 90-day high: ₫15,000 The company is up 1.0% from its price of ₫14,800 on 23 September 2020. The Vietnamese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 11% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS ₫662 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₫529.9b (up 13% from 3Q 2019). Net income: ₫65.0b (up 88% from 3Q 2019). Profit margin: 12% (up from 7.4% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 02
New 90-day low: ₫13,800 The company is down 7.0% from its price of ₫14,900 on 03 August 2020. The Vietnamese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 7.0% over the same period. 공고 • Aug 18
An unknown buyer agreed to acquire Sotrans Ha Tinh Com. Ltd from South Logistics Joint Stock Company (HOSE:STG). An unknown buyer agreed to acquire Sotrans Ha Tinh Com. Ltd from South Logistics Joint Stock Company (HOSE:STG) on August 14, 2020. The Board of Directors of South Logistics resolved the transaction. 공고 • Jul 07
South Logistics Joint Stock Company Announces CEO Changes On June 30, 2020, the Board of Directors of South Logistics Joint Stock Company approved the resignation of Mr. Tran Tuan Anh as CEO cum Legal Representative from July 01, 2020 and appointment of Mr. Dang Vu Thanh, Member of the Board of Directors, as CEO cum Legal Representative for three years from July 01, 2020.