Recent Insider Transactions • Jun 16
Deputy Chairman of the Board recently sold ₫5.5b worth of stock On the 9th of June, Huyen Thi Nguyen sold around 550k shares on-market at roughly ₫10,000 per share. This transaction amounted to 5.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Huyen Thi's only on-market trade for the last 12 months. Buy Or Sell Opportunity • Apr 08
Now 27% overvalued Over the last 90 days, the stock has fallen 15% to ₫14,450. The fair value is estimated to be ₫11,391, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 59%. Aankondiging • Apr 01
Development Investment Construction Joint Stock Corporation, Annual General Meeting, Apr 24, 2026 Development Investment Construction Joint Stock Corporation, Annual General Meeting, Apr 24, 2026, at 13:00 SE Asia Standard Time. Location: head office of development investment construction, -jsc(15 thi sach, vu vang ward), hcmc Vietnam New Risk • Feb 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 35% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (23% increase in shares outstanding). Reported Earnings • Feb 02
Full year 2025 earnings released: EPS: ₫1,002 (vs ₫177 in FY 2024) Full year 2025 results: EPS: ₫1,002 (up from ₫177 in FY 2024). Revenue: ₫4.73t (up 263% from FY 2024). Net income: ₫647.8b (up 466% from FY 2024). Profit margin: 14% (up from 8.8% 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 59% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 30
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₫1.34t (up ₫1.29t from 3Q 2024). Net income: ₫211.5b (up ₫204.4b from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). New Risk • Oct 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.4% 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 (8.4% average weekly change). Earnings have declined by 38% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Jul 31
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: ₫274.3b (down 67% from 2Q 2024). Net income: ₫48.6b (down 62% from 2Q 2024). Profit margin: 18% (up from 15% in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫23,300, the stock trades at a trailing P/E ratio of 76.7x. Average trailing P/E is 20x in the Construction industry in Vietnam. Total loss to shareholders of 38% over the past three years. New Risk • Jul 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (₫19b sold). Reported Earnings • May 05
First quarter 2025 earnings released: ₫57.97 loss per share (vs ₫192 loss in 1Q 2024) First quarter 2025 results: ₫57.97 loss per share (improved from ₫192 loss in 1Q 2024). Revenue: ₫152.8b (up ₫152.3b from 1Q 2024). Net loss: ₫35.4b (loss narrowed 70% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Apr 30
Deputy Chairman of the Board recently sold ₫28b worth of stock On the 23rd of April, Huyen Thi Nguyen sold around 3m shares on-market at roughly ₫10,000 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Huyen Thi's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₫14,950, the stock trades at a trailing P/E ratio of 79.6x. Average trailing P/E is 17x in the Construction industry in Vietnam. Total loss to shareholders of 77% over the past three years. Aankondiging • Apr 01
Development Investment Construction Joint Stock Corporation, Annual General Meeting, Apr 18, 2025 Development Investment Construction Joint Stock Corporation, Annual General Meeting, Apr 18, 2025, at 13:00 SE Asia Standard Time. Location: 169 thuy van, ward 8, vung tau city, ba ria - vung tau province, Vietnam New Risk • Jan 28
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 29% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (8.0% net profit margin). Reported Earnings • Nov 04
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₫47.3b (down 80% from 3Q 2023). Net income: ₫7.08b (down 58% from 3Q 2023). Profit margin: 15% (up from 7.2% in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₫821.3b (up 408% from 2Q 2023). Net income: ₫126.4b (up ₫115.9b from 2Q 2023). Profit margin: 15% (up from 6.5% in 2Q 2023). Reported Earnings • May 07
First quarter 2024 earnings released First quarter 2024 results: Revenue: ₫488.6m (down 100% from 1Q 2023). Net loss: ₫117.2b (down 249% from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Mar 19
Consensus EPS estimates increase by 83% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₫1.97t to ₫2.05t. EPS estimate increased from ₫219 to ₫400 per share. Net income forecast to grow 41% next year vs 43% growth forecast for Construction industry in Vietnam. Consensus price target up from ₫18,200 to ₫20,000. Share price rose 13% to ₫29,900 over the past week. New Risk • Feb 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 307% 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 Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Jan 31
Full year 2023 earnings released Full year 2023 results: Revenue: ₫1.03t (down 46% from FY 2022). Net income: ₫172.7b (up 20% from FY 2022). Profit margin: 17% (up from 7.6% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Construction industry in Vietnam. New Risk • Jan 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.5% 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. This is currently the only risk that has been identified for the company. Major Estimate Revision • Dec 28
Consensus revenue estimates fall by 47% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₫1.96t to ₫1.04t. EPS estimate fell from ₫326 to ₫205 per share. Net income forecast to grow 53% next year vs 70% growth forecast for Construction industry in Vietnam. Consensus price target up from ₫15,300 to ₫18,200. Share price rose 2.1% to ₫26,700 over the past week. Board Change • Dec 19
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Danh Phan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Sep 19
Development Investment Construction Joint Stock Corporation Announces Suspension of Operation of Him Lam Branch On September 18, 2023, Development Investment Construction Joint Stock Corporation, approved the policy to continue temporary business suspension of DIC Him Lam branch. Reported Earnings • Aug 03
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₫161.7b (down 72% from 2Q 2022). Net income: ₫10.5b (down 87% from 2Q 2022). Profit margin: 6.5% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Aankondiging • Jul 06
Development Investment Construction Joint Stock Corporation, Annual General Meeting, Jul 21, 2023 Development Investment Construction Joint Stock Corporation, Annual General Meeting, Jul 21, 2023, at 06:00 Coordinated Universal Time. Location: Aurora, 169 Thuy Van street, ward 8 , Vung Tau city, Ba Ria Vung Tau province Vung Tau City Vietnam Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫18,700, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 13x in the Construction industry in Vietnam. Total returns to shareholders of 160% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫14,900, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 13x in the Construction industry in Vietnam. Total returns to shareholders of 115% over the past three years. Major Estimate Revision • Mar 28
Consensus revenue estimates fall by 35% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₫3.01t to ₫1.96t. EPS estimate fell from ₫745 to ₫326 per share. Net income forecast to grow 36% next year vs 36% growth forecast for Construction industry in Vietnam. Consensus price target down from ₫17,600 to ₫13,400. Share price rose 10.0% to ₫13,250 over the past week. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫13,250, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Construction industry in Vietnam. Total returns to shareholders of 59% over the past three years. Reported Earnings • Feb 01
Full year 2022 earnings released: EPS: ₫240 (vs ₫1,870 in FY 2021) Full year 2022 results: EPS: ₫240 (down from ₫1,870 in FY 2021). Revenue: ₫1.91t (down 26% from FY 2021). Net income: ₫146.3b (down 85% from FY 2021). Profit margin: 7.7% (down from 38% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Construction industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫16,100, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 10x in the Construction industry in Asia. Total returns to shareholders of 84% over the past three years. Major Estimate Revision • Dec 22
Consensus revenue estimates fall by 23% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₫3.88t to ₫2.98t. EPS estimate fell from ₫1,555 to ₫596 per share. Net income forecast to shrink 54% next year vs 21% growth forecast for Construction industry in Vietnam . Consensus price target down from ₫33,500 to ₫17,600. Share price fell 14% to ₫15,600 over the past week. Price Target Changed • Dec 21
Price target decreased to ₫17,600 Down from ₫31,995, the current price target is provided by 1 analyst. New target price is 13% above last closing price of ₫15,600. Stock is down 80% over the past year. The company is forecast to post earnings per share of ₫596 for next year compared to ₫1,870 last year. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 22% share price gain to ₫14,800, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Construction industry in Asia. Total returns to shareholders of 74% over the past three years. Recent Insider Transactions • Nov 17
Insider recently bought ₫300m worth of stock On the 11th of November, Lan Diep bought around 30k shares on-market at roughly ₫10,000 per share. This transaction increased Lan Diep's direct individual holding by 455x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director My Nguyen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment deteriorated over the past week After last week's 23% share price decline to ₫14,400, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Construction industry in Asia. Total returns to shareholders of 66% over the past three years. Reported Earnings • Nov 03
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: ₫423.6b (down 21% from 3Q 2021). Net loss: ₫996.4m (down 102% from profit in 3Q 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₫20,450, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Construction industry in Asia. Total returns to shareholders of 133% over the past three years. Reported Earnings • Aug 01
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ₫575.4b (down 6.6% from 2Q 2021). Net income: ₫79.4b (up 50% from 2Q 2021). Profit margin: 14% (up from 8.6% in 2Q 2021). Over the next year, revenue is forecast to grow 70%, compared to a 54% growth forecast for the industry in Vietnam. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 23% share price gain to ₫42,900, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 10x in the Construction industry in Asia. Total returns to shareholders of 339% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 24% share price decline to ₫41,950, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 10x in the Construction industry in Vietnam. Total returns to shareholders of 317% over the past three years. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫54,100, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 9x in the Construction industry in Vietnam. Total returns to shareholders of 408% over the past three years. Reported Earnings • May 04
First quarter 2022 earnings: Revenues exceed analyst expectations First quarter 2022 results: Revenue: ₫518.9b (up 3.7% from 1Q 2021). Net income: ₫63.4b (up 53% from 1Q 2021). Profit margin: 12% (up from 8.3% in 1Q 2021). Revenue exceeded analyst estimates by 41%. Over the next year, revenue is forecast to grow 62%, compared to a 48% growth forecast for the industry in Vietnam. Price Target Changed • Apr 27
Price target increased to ₫39,050 Up from ₫31,700, the current price target is an average from 2 analysts. New target price is 35% below last closing price of ₫60,200. Stock is up 166% over the past year. The company is forecast to post earnings per share of ₫2,286 for next year compared to ₫2,281 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director My Nguyen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫77,800, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 13x in the Construction industry in Vietnam. Total returns to shareholders of 601% over the past three years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 17% share price gain to ₫106,200, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 17x in the Construction industry in Vietnam. Total returns to shareholders of 832% over the past three years. Major Estimate Revision • Mar 09
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₫4.33t to ₫4.09t. EPS estimate also fell from ₫2,565 per share to ₫2,286 per share. Net income forecast to grow 22% next year vs 36% growth forecast for Construction industry in Vietnam. Consensus price target of ₫39,050 unchanged from last update. Share price fell 4.6% to ₫88,100 over the past week. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improved over the past week After last week's 24% share price gain to ₫78,900, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 15x in the Construction industry in Vietnam. Total returns to shareholders of 589% over the past three years. Reported Earnings • Jan 30
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ₫1,190 (down from ₫1,676 in FY 2020). Revenue: ₫624.0b (down 75% from FY 2020). Net income: ₫505.8b (down 24% from FY 2020). Profit margin: 81% (up from 27% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 576%, compared to a 45% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 85% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₫73,600, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 10x in the Construction industry in Asia. Total returns to shareholders of 581% over the past three years. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 19% share price gain to ₫81,500, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 10x in the Construction industry in Asia. Total returns to shareholders of 687% over the past three years. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improved over the past week After last week's 16% share price gain to ₫43,300, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 10x in the Construction industry in Asia. Total returns to shareholders of 362% over the past three years. Recent Insider Transactions • Sep 07
Deputy CEO & Director recently bought ₫96b worth of stock On the 31st of August, Huyen Thi Nguyen bought around 10m shares on-market at roughly ₫10,000 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₫96b more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 13
Insider recently bought ₫30m worth of stock On the 10th of August, Nguyen Cuong bought around 3m shares on-market at roughly ₫9.99 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 21% share price gain to ₫30,600, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Construction industry in Asia. Total returns to shareholders of 187% over the past three years. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS ₫129 (vs ₫119 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ₫615.8b (down 3.3% from 2Q 2020). Net income: ₫52.9b (up 9.9% from 2Q 2020). Profit margin: 8.6% (up from 7.6% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 34% per year. Price Target Changed • Aug 05
Price target increased to ₫27,265 Up from ₫24,494, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₫27,750. Stock is up 190% over the past year. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫26,923, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Construction industry in Vietnam. Total returns to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫12,609 per share. Major Estimate Revision • Jun 02
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from ₫4.15t to ₫2.73t. EPS estimate unchanged at ₫2,459 per share. Net income forecast to grow 56% next year vs 41% growth forecast for Construction industry in Vietnam. Consensus price target broadly unchanged at ₫28,658. Share price rose 4.6% to ₫31,600 over the past week. Price Target Changed • May 12
Price target increased to ₫28,491 Up from ₫24,091, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₫28,150. Stock is up 158% over the past year. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS ₫1,961 (vs ₫1,060 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫2.49t (up 18% from FY 2019). Net income: ₫668.6b (up 82% from FY 2019). Profit margin: 27% (up from 17% in FY 2019). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 18
Price target increased to ₫31,250 Up from ₫26,500, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₫31,900. Stock is up 175% over the past year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₫26,850, the stock is trading at a trailing P/E ratio of 20.8x, down from the previous P/E ratio of 25.8x. This compares to an average P/E of 14x in the Construction industry in Vietnam. Total returns to shareholders over the past three years are 34%. Price Target Changed • Jan 19
Price target raised to ₫20,250 Up from ₫16,550, the current price target is provided by 1 analyst. The new target price is 38% below the current share price of ₫32,450. As of last close, the stock is up 148% over the past year. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 15% share price gain to ₫31,500, the stock is trading at a trailing P/E ratio of 24.4x, up from the previous P/E ratio of 21.1x. This compares to an average P/E of 14x in the Construction industry in Vietnam. Total returns to shareholders over the past three years are 59%. Is New 90 Day High Low • Jan 04
New 90-day high: ₫29,550 The company is up 66% from its price of ₫17,850 on 06 October 2020. The Vietnamese market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 27% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₫27,350 The company is up 88% from its price of ₫14,550 on 18 September 2020. The Vietnamese market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 21% over the same period. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 18% share price gain to ₫25,700, the stock is trading at a trailing P/E ratio of 19.9x, up from the previous P/E ratio of 16.8x. This compares to an average P/E of 11x in the Construction industry in Vietnam. Total returns to shareholders over the past three years are 47%. Is New 90 Day High Low • Nov 20
New 90-day high: ₫21,150 The company is up 66% from its price of ₫12,750 on 21 August 2020. The Vietnamese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 04
New 90-day high: ₫20,350 The company is up 65% from its price of ₫12,300 on 06 August 2020. The Vietnamese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 21% over the same period. Is New 90 Day High Low • Oct 19
New 90-day high: ₫18,750 The company is up 45% from its price of ₫12,950 on 21 July 2020. The Vietnamese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 19% over the same period. Aankondiging • Sep 26
Development Investment Construction Joint Stock Corporation Appoints Bui Van Su as Chief Accountant Cum Director At Financial Planning Board, Effective October 1, 2020 Development Investment Construction Joint Stock Corporation announced personnel change as follows: Mr. Bui Van Su was appointed as chief accountant cum director at financial planning board in 3 years as from October 1, 2020. 
