Reported Earnings • Aug 05
Second quarter 2026 earnings released: EPS: ₫201 (vs ₫251 in 2Q 2025) Second quarter 2026 results: EPS: ₫201 (down from ₫251 in 2Q 2025). Revenue: ₫1.16t (down 8.4% from 2Q 2025). Net income: ₫10.2b (down 38% from 2Q 2025). Profit margin: 0.9% (down from 1.3% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Board Change • Jul 10
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 12
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 13
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Mar 06
Alphanam E&C Joint Stock Company, Annual General Meeting, Apr 24, 2026 Alphanam E&C Joint Stock Company, Annual General Meeting, Apr 24, 2026. Location: pho noi a industrial park, nhu quynh commune, hung yen province, Vietnam Board Change • Feb 23
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 04
Full year 2025 earnings released: EPS: ₫138 (vs ₫348 in FY 2024) Full year 2025 results: EPS: ₫138 (down from ₫348 in FY 2024). Revenue: ₫1.18t (down 65% from FY 2024). Net income: ₫8.97b (down 61% from FY 2024). Profit margin: 0.8% (up from 0.7% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: ₫213 (vs ₫114 in 3Q 2024) Third quarter 2025 results: EPS: ₫213 (up from ₫114 in 3Q 2024). Revenue: ₫1.42t (up 56% from 3Q 2024). Net income: ₫13.9b (up 88% from 3Q 2024). Profit margin: 1.0% (up from 0.8% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 07
Second quarter 2025 earnings released: EPS: ₫251 (vs ₫107 in 2Q 2024) Second quarter 2025 results: EPS: ₫251 (up from ₫107 in 2Q 2024). Revenue: ₫1.27t (up 18% from 2Q 2024). Net income: ₫16.4b (up 135% from 2Q 2024). Profit margin: 1.3% (up from 0.6% 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 6% per year whereas the company’s share price has fallen by 8% per year. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₫6,600, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 19x in the Construction industry in Vietnam. Total loss to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫5,300, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 19x in the Construction industry in Vietnam. Total loss to shareholders of 50% over the past three years. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: ₫21.00 (vs ₫14.00 in 1Q 2024) First quarter 2025 results: EPS: ₫21.00 (up from ₫14.00 in 1Q 2024). Revenue: ₫1.12t (up 133% from 1Q 2024). Net income: ₫1.38b (up 48% from 1Q 2024). Profit margin: 0.1% (down from 0.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₫4,900, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 19x in the Construction industry in Vietnam. Total loss to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₫5,700, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 21x in the Construction industry in Vietnam. Total loss to shareholders of 55% over the past three years. Announcement • Feb 28
Alphanam E&C Joint Stock Company, Annual General Meeting, Apr 17, 2025 Alphanam E&C Joint Stock Company, Annual General Meeting, Apr 17, 2025. Location: pho noi a industrial park, trung trac commune, van lam district, hung yen province, Vietnam New Risk • Jan 17
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 7.3% 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 Interest payments are not well covered by earnings (1.4x net interest cover). Share price has been highly volatile over the past 3 months (7.3% average weekly change). High level of non-cash earnings (29% accrual ratio). Minor Risk Market cap is less than US$100m (₫313.0b market cap, or US$12.2m). Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: ₫107 (vs ₫55.00 in 2Q 2023) Second quarter 2024 results: EPS: ₫107 (up from ₫55.00 in 2Q 2023). Revenue: ₫1.07t (up 175% from 2Q 2023). Net income: ₫6.97b (up 95% from 2Q 2023). Profit margin: 0.6% (down from 0.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫7,800, the stock trades at a trailing P/E ratio of 28.1x. Average trailing P/E is 19x in the Construction industry in Vietnam. Total loss to shareholders of 13% over the past three years. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: ₫14.00 (vs ₫62.00 in 1Q 2023) First quarter 2024 results: EPS: ₫14.00 (down from ₫62.00 in 1Q 2023). Revenue: ₫482.5b (up 8.3% from 1Q 2023). Net income: ₫927.2m (down 77% from 1Q 2023). Profit margin: 0.2% (down from 0.9% in 1Q 2023). The decrease in margin was driven by higher expenses. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: ₫325 (vs ₫525 in FY 2022) Full year 2023 results: EPS: ₫325. Revenue: ₫2.22t (flat on FY 2022). Net income: ₫21.2b (up 1.2% from FY 2022). Profit margin: 1.0% (up from 0.9% in FY 2022). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: ₫7.00 (vs ₫50.00 in 3Q 2022) Third quarter 2023 results: EPS: ₫7.00 (down from ₫50.00 in 3Q 2022). Revenue: ₫511.0b (up 112% from 3Q 2022). Net income: ₫469.3m (down 86% from 3Q 2022). Profit margin: 0.1% (down from 1.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Jul 25
Second quarter 2023 earnings released: EPS: ₫55.00 (vs ₫126 in 2Q 2022) Second quarter 2023 results: EPS: ₫55.00 (down from ₫126 in 2Q 2022). Revenue: ₫390.6b (up 24% from 2Q 2022). Net income: ₫3.58b (down 57% from 2Q 2022). Profit margin: 0.9% (down from 2.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: ₫62.00 (vs ₫176 in 1Q 2022) First quarter 2023 results: EPS: ₫62.00 (down from ₫176 in 1Q 2022). Revenue: ₫445.4b (down 63% from 1Q 2022). Net income: ₫4.05b (down 8.6% from 1Q 2022). Profit margin: 0.9% (up from 0.4% in 1Q 2022). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Jan 13
New 90-day high: ₫7,900 The company is up 14% from its price of ₫6,900 on 15 October 2020. The Vietnamese market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 43% over the same period. Is New 90 Day High Low • Oct 28
New 90-day low: ₫6,000 The company is down 5.0% from its price of ₫6,300 on 29 July 2020. The Vietnamese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 30% over the same period. Is New 90 Day High Low • Oct 07
New 90-day low: ₫6,200 The company is down 21% from its price of ₫7,800 on 08 July 2020. The Vietnamese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 22% over the same period. 
