Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to ₫3,700, the stock trades at a trailing P/E ratio of 45x. Average trailing P/E is 10x in the Construction industry in Vietnam. Total loss to shareholders of 56% over the past three years. Board Change • Jul 15
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 4 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Member of the Board of Supervisors Lien Tran is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Jun 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. Director, General Director & Member of the Board of General Directors Truc Tran was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 13
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. Director, General Director & Member of the Board of General Directors Truc Tran was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 13
Full year 2025 earnings released: EPS: ₫311 (vs ₫8,764 loss in FY 2024) Full year 2025 results: EPS: ₫311 (up from ₫8,764 loss in FY 2024). Revenue: ₫517.6b (up 107% from FY 2024). Net income: ₫1.64b (up ₫35.3b from FY 2024). Profit margin: 0.3% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Board Change • Apr 02
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. Director, General Director & Member of the Board of General Directors Truc Tran was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 27
No independent directors There are 8 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Member of the Board of Supervisors Lien Tran is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Feb 26
Phuc Thinh Design Construction Trading Corporation, Annual General Meeting, Apr 18, 2026 Phuc Thinh Design Construction Trading Corporation, Annual General Meeting, Apr 18, 2026. New Risk • Feb 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 300% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (300% increase in shares outstanding). Market cap is less than US$10m (₫142.0b market cap, or US$5.54m). Reported Earnings • Feb 05
Full year 2025 earnings released: EPS: ₫362 (vs ₫8,764 loss in FY 2024) Full year 2025 results: EPS: ₫362 (up from ₫8,764 loss in FY 2024). Revenue: ₫517.6b (up 107% from FY 2024). Net income: ₫1.81b (up ₫35.5b from FY 2024). Profit margin: 0.3% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Board Change • Nov 10
No independent directors There are 8 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Member of the Board of Supervisors Lien Tran is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Oct 17
No independent directors There are 8 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Member of the Board of Supervisors Lien Tran is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Aug 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₫39b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₫39b free cash flow). Earnings have declined by 106% per year over the past 5 years. Market cap is less than US$10m (₫43.0b market cap, or US$1.63m). New Risk • Aug 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major 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 Risks Shares are highly illiquid. Earnings have declined by 48% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Market cap is less than US$10m (₫35.0b market cap, or US$1.33m). Reported Earnings • Mar 27
Full year 2024 earnings released: ₫6,733 loss per share (vs ₫412 profit in FY 2023) Full year 2024 results: ₫6,733 loss per share (down from ₫412 profit in FY 2023). Revenue: ₫250.1b (down 46% from FY 2023). Net loss: ₫33.7b (down ₫35.7b from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Board Change • Mar 12
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Announcement • Feb 25
Phuc Thinh Design Construction Trading Corporation, Annual General Meeting, Apr 12, 2025 Phuc Thinh Design Construction Trading Corporation, Annual General Meeting, Apr 12, 2025. Board Change • Feb 11
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 09
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 01
Third quarter 2024 earnings released: ₫1,840 loss per share (vs ₫451 profit in 3Q 2023) Third quarter 2024 results: ₫1,840 loss per share (down from ₫451 profit in 3Q 2023). Revenue: ₫43.1b (down 64% from 3Q 2023). Net loss: ₫9.20b (down ₫11.5b from profit in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Oct 15
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 1.3% to ₫8,100. The fair value is estimated to be ₫6,170, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last year. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Sep 20
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₫7,500. The fair value is estimated to be ₫6,155, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last year. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Aug 26
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to ₫4,700. The fair value is estimated to be ₫6,086, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last year. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Aug 07
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to ₫8,000. The fair value is estimated to be ₫6,085, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last year. Meanwhile, the company became loss making. Reported Earnings • Aug 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₫34.1b (down 68% from 2Q 2023). Net loss: ₫6.64b (loss narrowed 54% from 2Q 2023). Buy Or Sell Opportunity • Jul 01
Now 37% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to ₫12,900. The fair value is estimated to be ₫9,408, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 68%. Buy Or Sell Opportunity • Jun 26
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 49% to ₫12,100. The fair value is estimated to be ₫9,408, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 68%. Board Change • May 08
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Buy Or Sell Opportunity • Apr 08
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 49% to ₫12,100. The fair value is estimated to be ₫9,360, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 68%. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫8,900, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 26x in the Construction industry in Vietnam. Total loss to shareholders of 38% over the past three years. Board Change • Mar 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Jan 31
Full year 2023 earnings released Full year 2023 results: Revenue: ₫463.0b (up 26% from FY 2022). Net income: ₫2.06b (up 269% from FY 2022). Profit margin: 0.4% (up from 0.2% in FY 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫7,400, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 24x in the Construction industry in Vietnam. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 57% After last week's 57% share price gain to ₫9,600, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 21x in the Construction industry in Vietnam. Total loss to shareholders of 36% over the past year. Board Change • Nov 28
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Buying Opportunity • Oct 31
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 57%. The fair value is estimated to be ₫7,671, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫6,200, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 26x in the Construction industry in Vietnam. Total loss to shareholders of 35% over the past three years. Reported Earnings • Oct 24
Third quarter 2023 earnings released: ₫2,952 loss per share (vs ₫256 loss in 3Q 2022) Third quarter 2023 results: ₫2,952 loss per share (further deteriorated from ₫256 loss in 3Q 2022). Revenue: ₫130.2b (down 6.0% from 3Q 2022). Net loss: ₫9.45b (loss widened ₫8.63b from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Board Change • Oct 11
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. New Risk • Jul 29
New major risk - Revenue and earnings growth Earnings have declined by 7.5% 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. 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). Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Dividend per share is over 5x earnings per share. Paying a dividend despite having no free cash flows. Earnings have declined by 7.5% per year over the past 5 years. Market cap is less than US$10m (₫41.6b market cap, or US$1.76m). Reported Earnings • Jul 28
Second quarter 2023 earnings released: ₫4,464 loss per share (vs ₫6,249 profit in 2Q 2022) Second quarter 2023 results: ₫4,464 loss per share (down from ₫6,249 profit in 2Q 2022). Revenue: ₫105.8b (down 11% from 2Q 2022). Net loss: ₫14.3b (down 160% from profit in 2Q 2022). Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫13,000, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 26x in the Construction industry in Vietnam. Total returns to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫13,000, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 29x in the Construction industry in Vietnam. Total returns to shareholders of 7.5% over the past year. Board Change • May 31
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₫14,000, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 24x in the Construction industry in Vietnam. Total loss to shareholders of 8.5% over the past year. Reported Earnings • May 07
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₫115.7b (up 116% from 1Q 2022). Net income: ₫11.8b (up ₫11.5b from 1Q 2022). Profit margin: 10% (up from 0.7% in 1Q 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • May 05
Upcoming dividend of ₫1,000 per share at 6.7% yield Eligible shareholders must have bought the stock before 12 May 2023. Payment date: 25 May 2023. Trailing yield: 6.7%. Lower than top quartile of Vietnamese dividend payers (9.1%). In line with average of industry peers (6.4%). Board Change • Apr 10
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 06
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. 4 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 28
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. 4 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jul 05
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 27 July 2022. Trailing yield: 7.8%. Lower than top quartile of Vietnamese dividend payers (8.0%). Higher than average of industry peers (5.1%). Board Change • Jun 30
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫14,300, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 15x in the Construction industry in Vietnam. Board Change • May 05
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: ₫1,572 (vs ₫1,168 in FY 2020) Full year 2021 results: EPS: ₫1,572 (up from ₫1,168 in FY 2020). Revenue: ₫227.8b (down 34% from FY 2020). Net income: ₫5.59b (up 38% from FY 2020). Profit margin: 2.5% (up from 1.2% in FY 2020). The increase in margin was driven by lower expenses. Board Change • Mar 15
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 21% share price gain to ₫15,800, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 36x in the Construction industry in Vietnam. Total returns to shareholders of 11% over the past three years. Board Change • Feb 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 20
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₫15,400, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 27x in the Construction industry in Vietnam. Total returns to shareholders of 4.8% over the past three years. Upcoming Dividend • Nov 02
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 09 November 2021. Payment date: 24 November 2021. Trailing yield: 5.2%. Lower than top quartile of Vietnamese dividend payers (6.0%). Higher than average of industry peers (2.5%). Board Change • Oct 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (4 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: Lack of independent directors. Insufficient board refreshment.