Reported Earnings • Jul 18
Second quarter 2026 earnings released: EPS: ₫4,486 (vs ₫4,030 in 2Q 2025) Second quarter 2026 results: EPS: ₫4,486 (up from ₫4,030 in 2Q 2025). Revenue: ₫1.32t (flat on 2Q 2025). Net income: ₫367.2b (up 11% from 2Q 2025). Profit margin: 28% (up from 25% in 2Q 2025). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. New Risk • May 11
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 6.3% 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 Risks Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. High level of non-cash earnings (45% accrual ratio). Minor Risks Dividend is not well covered by cash flows (109% cash payout ratio). Share price has been volatile over the past 3 months (6.3% average weekly change). Declared Dividend • May 01
Dividend increased to ₫8,360 Dividend of ₫8,360 is 34% higher than last year. Ex-date: 19th May 2026 Payment date: 10th June 2026 Dividend yield will be 10%, which is higher than the industry average of 5.6%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but not covered by cash flows (109% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 2.3% over the next year. A fall of 3.2% would increase the payout ratio to a potentially unsustainable range, which means the dividend may be at risk. Reported Earnings • Apr 21
First quarter 2026 earnings released: EPS: ₫3,713 (vs ₫3,505 in 1Q 2025) First quarter 2026 results: EPS: ₫3,713 (up from ₫3,505 in 1Q 2025). Revenue: ₫1.46t (up 5.4% from 1Q 2025). Net income: ₫304.0b (up 5.9% from 1Q 2025). Profit margin: 21% (in line with 1Q 2025). Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫143,300, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 19x in the Building industry in Asia. Total returns to shareholders of 215% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫153,567 per share. Buy Or Sell Opportunity • Mar 23
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 34% to ₫121,200. The fair value is estimated to be ₫157,267, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to decline by 0.3% in the next 2 years. Announcement • Mar 18
Binh Minh Plastics Joint Stock Company, Annual General Meeting, Apr 28, 2026 Binh Minh Plastics Joint Stock Company, Annual General Meeting, Apr 28, 2026. Price Target Changed • Jan 26
Price target increased by 9.7% to ₫158,780 Up from ₫144,800, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₫155,100. Stock is up 22% over the past year. The company is forecast to post earnings per share of ₫15,225 for next year compared to ₫15,010 last year. Reported Earnings • Jan 20
Full year 2025 earnings released: EPS: ₫15,010 (vs ₫12,103 in FY 2024) Full year 2025 results: EPS: ₫15,010 (up from ₫12,103 in FY 2024). Revenue: ₫5.51t (up 19% from FY 2024). Net income: ₫1.23t (up 24% from FY 2024). Profit margin: 22% (in line with FY 2024). Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to ₫177,200. The fair value is estimated to be ₫147,057, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to decline by 3.1% in the next 2 years. Buy Or Sell Opportunity • Dec 17
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to ₫188,800. The fair value is estimated to be ₫149,763, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to decline by 3.1% in the next 2 years. New Risk • Dec 12
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 6.0% 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 are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.0% average weekly change). Upcoming Dividend • Nov 12
Upcoming dividend of ₫6,500 per share Eligible shareholders must have bought the stock before 17 November 2025. Payment date: 08 December 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 6.9%. Lower than top quartile of Vietnamese dividend payers (7.5%). Higher than average of industry peers (2.4%). Declared Dividend • Oct 29
Dividend increased to ₫6,500 Dividend of ₫6,500 is 13% higher than last year. Ex-date: 17th November 2025 Payment date: 8th December 2025 Dividend yield will be 7.5%, which is higher than the industry average of 5.6%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 2 years. However, it would need to fall by 53% to increase the payout ratio to a potentially unsustainable range. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₫174,000, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 19x in the Building industry in Asia. Total returns to shareholders of 288% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫138,431 per share. Buy Or Sell Opportunity • Oct 21
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₫169,000. The fair value is estimated to be ₫138,604, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to decline by 13% in the next 2 years. Reported Earnings • Oct 16
Third quarter 2025 earnings released: EPS: ₫4,283 (vs ₫3,538 in 3Q 2024) Third quarter 2025 results: EPS: ₫4,283 (up from ₫3,538 in 3Q 2024). Revenue: ₫1.53t (up 8.9% from 3Q 2024). Net income: ₫350.6b (up 21% from 3Q 2024). Profit margin: 23% (up from 21% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Building industry in Asia. 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 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 24
Second quarter 2025 earnings released: EPS: ₫4,030 (vs ₫3,424 in 2Q 2024) Second quarter 2025 results: EPS: ₫4,030 (up from ₫3,424 in 2Q 2024). Revenue: ₫1.31t (up 13% from 2Q 2024). Net income: ₫329.9b (up 18% from 2Q 2024). Profit margin: 25% (in line with 2Q 2024). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 09
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to ₫146,900. The fair value is estimated to be ₫120,425, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to decline by 2.5% in the next 2 years. Declared Dividend • Apr 27
Dividend of ₫6,250 announced Shareholders will receive a dividend of ₫6,250. Ex-date: 19th May 2025 Payment date: 5th June 2025 Dividend yield will be 8.4%, which is higher than the industry average of 5.6%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is covered by cash flows (87% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 5.9% to bring the payout ratio under control. However, EPS is expected to decline by 6.7% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Apr 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.0% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (95% payout ratio). Price Target Changed • Apr 16
Price target increased by 9.7% to ₫133,363 Up from ₫121,625, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₫128,800. Stock is up 14% over the past year. The company is forecast to post earnings per share of ₫12,586 for next year compared to ₫12,103 last year. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫124,000, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Building industry in Asia. Total returns to shareholders of 166% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫124,660 per share. Reported Earnings • Mar 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₫12,103 (down from ₫12,717 in FY 2023). Revenue: ₫4.62t (down 11% from FY 2023). Net income: ₫990.8b (down 4.8% from FY 2023). Profit margin: 22% (up from 20% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 3.1%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 13
Price target increased by 7.6% to ₫122,808 Up from ₫114,140, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ₫120,300. Stock is up 5.3% over the past year. The company is forecast to post earnings per share of ₫12,586 for next year compared to ₫12,103 last year. Buy Or Sell Opportunity • Mar 05
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at ₫125,900. The fair value is estimated to be ₫103,053, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 37%. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 7.5% in the next 2 years. Reported Earnings • Jan 28
Full year 2024 earnings released: EPS: ₫12,103 (vs ₫12,717 in FY 2023) Full year 2024 results: EPS: ₫12,103 (down from ₫12,717 in FY 2023). Revenue: ₫4.62t (down 11% from FY 2023). Net income: ₫990.8b (down 4.8% from FY 2023). Profit margin: 22% (up from 20% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Jan 24
Binh Minh Plastics Joint Stock Company, Annual General Meeting, Apr 24, 2025 Binh Minh Plastics Joint Stock Company, Annual General Meeting, Apr 24, 2025. Buy Or Sell Opportunity • Dec 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.5% to ₫135,200. The fair value is estimated to be ₫111,894, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 45%. Revenue is forecast to grow by 9.8% in 2 years. Earnings are forecast to grow by 4.2% in the next 2 years. Upcoming Dividend • Nov 06
Upcoming dividend of ₫5,740 per share Eligible shareholders must have bought the stock before 13 November 2024. Payment date: 05 December 2024. Payout ratio and cash payout ratio are on the higher end at 95% and 86% respectively. Trailing yield: 9.0%. Within top quartile of Vietnamese dividend payers (8.3%). Higher than average of industry peers (6.4%). Buy Or Sell Opportunity • Oct 28
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 42% to ₫135,700. The fair value is estimated to be ₫112,232, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 45%. Revenue is forecast to grow by 8.1% in 2 years. Earnings are forecast to grow by 1.3% in the next 2 years. Announcement • Oct 21
Binh Minh Plastics Joint Stock Company Approves First Interim Dividend for 2024, Payable on December 5, 2024 Binh Minh Plastics Joint Stock Company at its board meeting held on October 18, 2024, approved Interim the first dividend valued VND 469,881,784,120, equal to VND 5,740 per share for 2024. The record date is November 14, 2024. Payment date is December 5, 2024. Declared Dividend • Oct 21
Dividend of ₫5,740 announced Shareholders will receive a dividend of ₫5,740. Ex-date: 13th November 2024 Payment date: 5th December 2024 Dividend yield will be 8.9%, which is higher than the industry average of 5.6%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend. Reported Earnings • Oct 17
Third quarter 2024 earnings released: EPS: ₫3,538 (vs ₫2,551 in 3Q 2023) Third quarter 2024 results: EPS: ₫3,538 (up from ₫2,551 in 3Q 2023). Revenue: ₫1.41t (up 52% from 3Q 2023). Net income: ₫289.6b (up 39% from 3Q 2023). Profit margin: 21% (down from 23% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Sep 10
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at ₫106,800. The fair value is estimated to be ₫87,595, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 48%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 2.9% in the next 2 years. Buy Or Sell Opportunity • Aug 22
Now 22% overvalued Over the last 90 days, the stock has fallen 2.6% to ₫107,000. The fair value is estimated to be ₫87,389, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 48%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 2.9% in the next 2 years. Reported Earnings • Jul 20
Second quarter 2024 earnings released: EPS: ₫3,424 (vs ₫3,599 in 2Q 2023) Second quarter 2024 results: EPS: ₫3,424 (down from ₫3,599 in 2Q 2023). Revenue: ₫1.15t (down 14% from 2Q 2023). Net income: ₫280.3b (down 4.9% from 2Q 2023). Profit margin: 24% (up from 22% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 06
Dividend of ₫6,100 announced Shareholders will receive a dividend of ₫6,100. Ex-date: 17th May 2024 Payment date: 10th June 2024 Dividend yield will be 11%, which is higher than the industry average of 5.6%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio) nor is it adequately covered by cash flows (98% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.1% to bring the payout ratio under control. EPS is expected to grow by 4.2% over the next 3 years, which should be enough to bring the dividend into a sustainable range. Reported Earnings • Mar 28
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₫12,717 (up from ₫8,481 in FY 2022). Revenue: ₫5.16t (down 11% from FY 2022). Net income: ₫1.04t (up 50% from FY 2022). Profit margin: 20% (up from 12% in FY 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 2.8%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 12
Consensus EPS estimates increase by 28% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₫5.26t to ₫5.40t. EPS estimate increased from ₫9,369 to ₫11,991 per share. Net income forecast to shrink 4.8% next year vs 23% growth forecast for Building industry in Vietnam . Consensus price target up from ₫98,233 to ₫106,833. Share price was steady at ₫116,000 over the past week. Price Target Changed • Mar 11
Price target increased by 13% to ₫106,833 Up from ₫94,267, the current price target is an average from 3 analysts. New target price is 5.1% below last closing price of ₫112,600. Stock is up 92% over the past year. The company is forecast to post earnings per share of ₫11,991 for next year compared to ₫12,717 last year. Reported Earnings • Jan 28
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₫12,717 (up from ₫8,481 in FY 2022). Revenue: ₫5.16t (down 11% from FY 2022). Net income: ₫1.04t (up 50% from FY 2022). Profit margin: 20% (up from 12% in FY 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 2.8%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. New Risk • Jan 25
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 6.1% 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 are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (97% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₫105,400, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Building industry in Asia. Total returns to shareholders of 122% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫72,172 per share. Upcoming Dividend • Nov 13
Upcoming dividend of ₫6,500 per share at 11% yield Eligible shareholders must have bought the stock before 20 November 2023. Payment date: 12 December 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of Vietnamese dividend payers (9.0%). Higher than average of industry peers (5.6%). Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫91,000, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Building industry in Asia. Total returns to shareholders of 103% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫58,989 per share. Announcement • Nov 03
Binh Minh Plastics Joint Stock Company Announces First Dividend for the Year 2022, Payable on December 2023 Binh Minh Plastics Joint Stock Company announced first dividend of VND 6,500 per share for the year 2022. The expected time of payment is December 2023. Major Estimate Revision • Aug 09
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from ₫9,276 to ₫10,796. Revenue forecast unchanged at ₫5.45t. Net income forecast to shrink 19% next year vs 24% growth forecast for Building industry in Vietnam . Consensus price target up from ₫82,698 to ₫88,598. Share price fell 4.6% to ₫91,400 over the past week. Reported Earnings • Jul 25
Second quarter 2023 earnings released: EPS: ₫3,599 (vs ₫1,774 in 2Q 2022) Second quarter 2023 results: EPS: ₫3,599 (up from ₫1,774 in 2Q 2022). Revenue: ₫1.34t (down 14% from 2Q 2022). Net income: ₫294.6b (up 103% from 2Q 2022). Profit margin: 22% (up from 9.3% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Building industry in Asia. 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 27% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jul 18
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from ₫8,172 to ₫9,276. Revenue forecast steady at ₫5.52t. Net income forecast to shrink 13% next year vs 20% growth forecast for Building industry in Vietnam . Consensus price target up from ₫76,274 to ₫82,698. Share price rose 2.0% to ₫95,000 over the past week. Price Target Changed • Jul 17
Price target increased by 11% to ₫82,698 Up from ₫74,449, the current price target is an average from 4 analysts. New target price is 13% below last closing price of ₫95,000. Stock is up 70% over the past year. The company is forecast to post earnings per share of ₫9,276 for next year compared to ₫8,481 last year. New Risk • Jun 10
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 6.6% 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 are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫88,300, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Building industry in Asia. Total returns to shareholders of 137% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫63,585 per share. Upcoming Dividend • May 12
Upcoming dividend of ₫5,300 per share at 13% yield Eligible shareholders must have bought the stock before 19 May 2023. Payment date: 12 June 2023. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 13%. Within top quartile of Vietnamese dividend payers (8.9%). Higher than average of industry peers (5.0%). Announcement • May 10
An unknown buyer acquired State Capital Investment Corporation from Binh Minh Plastics Joint Stock Company (HOSE:BMP) for VND 199.83 million . An unknown buyer acquired State Capital Investment Corporation from Binh Minh Plastics Joint Stock Company (HOSE:BMP) for VND 199.83 million on April 27, 2023.An unknown buyer completed the acquisition of State Capital Investment Corporation from Binh Minh Plastics Joint Stock Company (HOSE:BMP) on April 27, 2023. Announcement • May 06
Binh Minh Plastics Joint Stock Company Announces Dividend for 2022, Payable on June 10, 2023 Binh Minh Plastics Joint Stock Company announced dividend of VND 5,000 per share for 2022. The dividend is payable on June 10, 2023 with the record date of May 20, 2023. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₫74,000, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Building industry in Asia. Total returns to shareholders of 113% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫56,622 per share. Price Target Changed • Apr 17
Price target increased by 7.5% to ₫71,319 Up from ₫66,340, the current price target is an average from 5 analysts. New target price is 14% above last closing price of ₫62,300. Stock is down 1.4% over the past year. The company is forecast to post earnings per share of ₫7,413 for next year compared to ₫8,481 last year. Price Target Changed • Feb 20
Price target decreased by 7.9% to ₫68,480 Down from ₫74,332, the current price target is an average from 5 analysts. New target price is 12% above last closing price of ₫61,200. Stock is down 3.3% over the past year. The company is forecast to post earnings per share of ₫7,195 for next year compared to ₫8,505 last year. Reported Earnings • Jan 23
Full year 2022 earnings released: EPS: ₫8,505 (vs ₫2,619 in FY 2021) Full year 2022 results: EPS: ₫8,505 (up from ₫2,619 in FY 2021). Revenue: ₫5.81t (up 28% from FY 2021). Net income: ₫696.3b (up 225% from FY 2021). Profit margin: 12% (up from 4.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 9.5% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Board Change • Nov 16
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. 5 experienced directors. 2 highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Long Phan was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₫53,000, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Building industry in Asia. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫48,960 per share. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: ₫2,139 (vs ₫317 loss in 3Q 2021) Third quarter 2022 results: EPS: ₫2,139 (up from ₫317 loss in 3Q 2021). Revenue: ₫1.50t (up 184% from 3Q 2021). Net income: ₫175.1b (up ₫201.1b from 3Q 2021). Profit margin: 12% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Oct 21
Binh Minh Plastics Joint Stock Company Announces First Cash Dividend for the Year 2022, Payable on December 01, 2022 Binh Minh Plastics Joint Stock Company announced first cash dividend of VND 3,100 per share for the year 2022. Ex-right date is October 26, 2022. Record date is October 27, 2022. Payment date is December 01, 2022. Price Target Changed • Oct 11
Price target increased to ₫74,597 Up from ₫68,058, the current price target is an average from 5 analysts. New target price is 37% above last closing price of ₫54,500. Stock is up 2.8% over the past year. The company is forecast to post earnings per share of ₫6,536 for next year compared to ₫2,619 last year. Reported Earnings • Aug 01
Second quarter 2022 earnings released: EPS: ₫1,774 (vs ₫511 in 2Q 2021) Second quarter 2022 results: EPS: ₫1,774 (up from ₫511 in 2Q 2021). Revenue: ₫1.56t (up 7.1% from 2Q 2021). Net income: ₫145.2b (up 247% from 2Q 2021). Profit margin: 9.3% (up from 2.9% in 2Q 2021). Over the next year, revenue is forecast to grow 18%, compared to a 17% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Upcoming Dividend • May 04
Upcoming dividend of ₫1,350 per share Eligible shareholders must have bought the stock before 11 May 2022. Payment date: 13 June 2022. Payout ratio is on the higher end at 87% but the company is not cash flow positive. Trailing yield: 7.7%. Within top quartile of Vietnamese dividend payers (6.6%). Higher than average of industry peers (3.6%). Reported Earnings • May 02
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: ₫1,557 (up from ₫1,026 in 1Q 2021). Revenue: ₫1.35t (up 17% from 1Q 2021). Net income: ₫127.4b (up 52% from 1Q 2021). Profit margin: 9.4% (up from 7.3% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 24%. Over the next year, revenue is forecast to grow 26%, compared to a 13% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Board Change • Apr 27
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. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Long Phan was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Feb 24
Price target increased to ₫67,100 Up from ₫62,700, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ₫64,100. Stock is up 3.4% over the past year. The company is forecast to post earnings per share of ₫5,222 for next year compared to ₫2,618 last year. Reported Earnings • Jan 30
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: ₫2,618 (down from ₫6,384 in FY 2020). Revenue: ₫4.55t (down 2.8% from FY 2020). Net income: ₫214.3b (down 59% from FY 2020). Profit margin: 4.7% (down from 11% in FY 2020). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 32%, compared to a 13% growth forecast for the industry in Vietnam. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Jan 07
Upcoming dividend of ₫1,250 per share Eligible shareholders must have bought the stock before 14 January 2022. Payment date: 10 February 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 8.1%. Within top quartile of Vietnamese dividend payers (6.1%). Higher than average of industry peers (3.3%). Price Target Changed • Nov 18
Price target increased to ₫60,878 Up from ₫55,628, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₫59,600. Stock is up 2.4% over the past year. The company is forecast to post earnings per share of ₫2,154 for next year compared to ₫6,384 last year. Reported Earnings • Oct 31
Third quarter 2021 earnings released: ₫317 loss per share (vs ₫1,871 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₫527.1b (down 53% from 3Q 2020). Net loss: ₫26.0b (down 117% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year and the company’s share price has also increased by 2% per year. Price Target Changed • Sep 23
Price target decreased to ₫55,628 Down from ₫60,816, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₫53,900. Stock is down 10% over the past year. Price Target Changed • Aug 23
Price target decreased to ₫56,903 Down from ₫62,541, the current price target is an average from 3 analysts. New target price is 6.4% above last closing price of ₫53,500. Stock is down 7.4% over the past year. Major Estimate Revision • Aug 14
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from ₫5,367 to ₫2,839. Revenue forecast unchanged from ₫5.12t at last update. Net income forecast to shrink 6.1% next year vs 18% growth forecast for Building industry in Vietnam . Consensus price target down from ₫62,541 to ₫60,816. Share price was steady at ₫57,600 over the past week. Reported Earnings • Jul 31
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ₫1.45t (up 16% from 2Q 2020). Net income: ₫41.8b (down 73% from 2Q 2020). Profit margin: 2.9% (down from 13% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Mar 18
Price target increased to ₫67,200 Up from ₫61,867, the current price target is provided by 1 analyst. New target price is 10% above last closing price of ₫61,000. Stock is up 69% over the past year. Price Target Changed • Feb 09
Price target raised to ₫61,867 Up from ₫57,800, the current price target is an average from 2 analysts. The new target price is close to the current share price of ₫60,100. As of last close, the stock is up 48% over the past year. Reported Earnings • Feb 03
Full year 2020 earnings released: EPS ₫6,385 (vs ₫5,164 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫4.69t (up 8.0% from FY 2019). Net income: ₫522.7b (up 24% from FY 2019). Profit margin: 11% (up from 9.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%. Over the next year, revenue is forecast to grow 4.8%, compared to a 13% growth forecast for the Building industry in Vietnam. Is New 90 Day High Low • Dec 07
New 90-day high: ₫62,700 The company is up 13% from its price of ₫55,300 on 08 September 2020. The Vietnamese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫37,944 per share. Reported Earnings • Nov 03
Third quarter 2020 earnings released: EPS ₫1,871 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₫1.11t (up 4.2% from 3Q 2019). Net income: ₫153.1b (up 28% from 3Q 2019). Profit margin: 14% (up from 11% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 01
New 90-day high: ₫62,200 The company is up 11% from its price of ₫56,000 on 03 July 2020. The Vietnamese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫38,640 per share. 
