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TCB

Vietnam Technological and Commercial Bank HOSE:TCB Stock Report

Last Price

₫35.50k

Market Cap

₫124.6t

7D

2.9%

1Y

-31.2%

Updated

24 Jun, 2022

Data

Company Financials +
TCB fundamental analysis
Snowflake Score
Valuation6/6
Future Growth2/6
Past Performance4/6
Financial Health6/6
Dividends0/6

TCB Stock Overview

Vietnam Technological and Commercial Joint Stock Bank provides personal and corporate banking products and services in Vietnam.

Vietnam Technological and Commercial Bank Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Vietnam Technological and Commercial Bank
Historical stock prices
Current Share Price₫35,500.00
52 Week High₫58,600.00
52 Week Low₫32,550.00
Beta0.95
1 Month Change-2.74%
3 Month Change-27.92%
1 Year Change-31.20%
3 Year Change74.45%
5 Year Changen/a
Change since IPO4.00%

Recent News & Updates

Shareholder Returns

TCBVN BanksVN Market
7D2.9%-2.1%-3.9%
1Y-31.2%-21.9%-13.7%

Return vs Industry: TCB underperformed the VN Banks industry which returned -21.9% over the past year.

Return vs Market: TCB underperformed the VN Market which returned -13.7% over the past year.

Price Volatility

Is TCB's price volatile compared to industry and market?
TCB volatility
TCB Average Weekly Movement6.4%
Banks Industry Average Movement6.5%
Market Average Movement8.1%
10% most volatile stocks in VN Market11.0%
10% least volatile stocks in VN Market4.5%

Stable Share Price: TCB is not significantly more volatile than the rest of VN stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TCB's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199312,311Jens Lottnerhttps://www.techcombank.com.vn

Vietnam Technological and Commercial Joint Stock Bank provides personal and corporate banking products and services in Vietnam. The company offers personal banking products and services include current accounts, payroll accounts, and savings and term deposits; loans, such as study, mortgage, auto, consumer, household business, securities pledged, and valuable paper pledged loans; credit and debit cards; ATM, international money transfer, payment, and e-banking services; and bancassurance products, such as life, non-life, and bundled insurance. It also provides corporate banking products and services comprise term and non-fixed deposits; tailored account packages; working capital loans, medium and long-term loans, and supply chain financing; import, export, and domestic trade finance services; loan, payment, tax, bid, performance, warranty, and other guarantees; and international fund transfer services.

Vietnam Technological and Commercial Bank Fundamentals Summary

How do Vietnam Technological and Commercial Bank's earnings and revenue compare to its market cap?
TCB fundamental statistics
Market Cap₫124.64t
Earnings (TTM)₫19.12t
Revenue (TTM)₫36.22t

6.5x

P/E Ratio

1.3x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TCB income statement (TTM)
Revenue₫36.22t
Cost of Revenue₫0
Gross Profit₫36.22t
Other Expenses₫17.10t
Earnings₫19.12t

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)5.45k
Gross Margin100.00%
Net Profit Margin52.79%
Debt/Equity Ratio112.2%

How did TCB perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is TCB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TCB?

Other financial metrics that can be useful for relative valuation.

TCB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does TCB's PE Ratio compare to its peers?

TCB PE Ratio vs Peers
The above table shows the PE ratio for TCB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10x

Price-To-Earnings vs Peers: TCB is good value based on its Price-To-Earnings Ratio (6.5x) compared to the peer average (10x).


Price to Earnings Ratio vs Industry

How does TCB's PE Ratio compare vs other companies in the Banks Industry?

Price-To-Earnings vs Industry: TCB is good value based on its Price-To-Earnings Ratio (6.5x) compared to the VN Banks industry average (9x)


Price to Earnings Ratio vs Fair Ratio

What is TCB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TCB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.5x
Fair PE Ratio13.8x

Price-To-Earnings vs Fair Ratio: TCB is good value based on its Price-To-Earnings Ratio (6.5x) compared to the estimated Fair Price-To-Earnings Ratio (13.8x).


Share Price vs Fair Value

What is the Fair Price of TCB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TCB (₫35500) is trading below our estimate of fair value (₫71645.3)

Significantly Below Fair Value: TCB is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: TCB is good value based on its PEG Ratio (0.4x)


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Future Growth

How is Vietnam Technological and Commercial Bank forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


14.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TCB's forecast earnings growth (14.8% per year) is above the savings rate (3.9%).

Earnings vs Market: TCB's earnings (14.8% per year) are forecast to grow slower than the VN market (21.2% per year).

High Growth Earnings: TCB's earnings are forecast to grow, but not significantly.

Revenue vs Market: TCB's revenue (17.3% per year) is forecast to grow faster than the VN market (17.2% per year).

High Growth Revenue: TCB's revenue (17.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TCB's Return on Equity is forecast to be low in 3 years time (19.9%).


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Past Performance

How has Vietnam Technological and Commercial Bank performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


26.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TCB has a high level of non-cash earnings.

Growing Profit Margin: TCB's current net profit margins (52.8%) are higher than last year (51.8%).


Past Earnings Growth Analysis

Earnings Trend: TCB's earnings have grown significantly by 26.6% per year over the past 5 years.

Accelerating Growth: TCB's earnings growth over the past year (34.3%) exceeds its 5-year average (26.6% per year).

Earnings vs Industry: TCB earnings growth over the past year (34.3%) exceeded the Banks industry 30.3%.


Return on Equity

High ROE: TCB's Return on Equity (19.8%) is considered low.


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Financial Health

How is Vietnam Technological and Commercial Bank's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: TCB's Assets to Equity ratio (6.2x) is low.

Allowance for Bad Loans: TCB has a sufficient allowance for bad loans (263%).

Low Risk Liabilities: 75% of TCB's liabilities are made up of primarily low risk sources of funding.

Loan Level: TCB has an appropriate level of Loans to Assets ratio (65%).

Low Risk Deposits: TCB's Loans to Deposits ratio (103%) is appropriate.

Level of Bad Loans: TCB has an appropriate level of bad loans (0.3%).


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Dividend

What is Vietnam Technological and Commercial Bank current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.46%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate TCB's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TCB's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TCB's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TCB's dividend payments have been increasing.


Current Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TCB's dividend in 3 years as they are not forecast to pay a notable one for the VN market.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Jens Lottner (55 yo)

1.83yrs

Tenure

Dr. Jens Lottner serves as Chief Executive Officer, General Manager and Member of Management Board at Vietnam Technological and Commercial Joint Stock Bank since August 18, 2020. He served as Chief Financi...


Leadership Team

Experienced Management: TCB's management team is considered experienced (2.4 years average tenure).


Board Members

Experienced Board: TCB's board of directors are considered experienced (9.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Vietnam Technological and Commercial Joint Stock Bank's employee growth, exchange listings and data sources


Key Information

  • Name: Vietnam Technological and Commercial Joint Stock Bank
  • Ticker: TCB
  • Exchange: HOSE
  • Founded: 1993
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: ₫124.637t
  • Shares outstanding: 3.51b
  • Website: https://www.techcombank.com.vn

Number of Employees


Location

  • Vietnam Technological and Commercial Joint Stock Bank
  • Techcombank Tower
  • 191 Ba Trieu Street
  • Hanoi
  • Vietnam

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/24 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.