New Risk • May 09
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 6.4% 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 High level of non-cash earnings (28% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Reported Earnings • Apr 26
Third quarter 2026 earnings released: EPS: ₫1,172 (vs ₫518 in 3Q 2025) Third quarter 2026 results: EPS: ₫1,172 (up from ₫518 in 3Q 2025). Revenue: ₫6.41t (up 28% from 3Q 2025). Net income: ₫118.9b (up 108% from 3Q 2025). Profit margin: 1.9% (up from 1.1% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 11
Price target increased by 8.5% to ₫98,166 Up from ₫90,436, the current price target is an average from 4 analysts. New target price is 23% above last closing price of ₫80,000. Stock is down 5.6% over the past year. The company is forecast to post earnings per share of ₫6,849 for next year compared to ₫4,343 last year. Reported Earnings • Feb 02
Second quarter 2026 earnings released: EPS: ₫2,246 (vs ₫998 in 2Q 2025) Second quarter 2026 results: EPS: ₫2,246 (up from ₫998 in 2Q 2025). Revenue: ₫10t (up 45% from 2Q 2025). Net income: ₫227.8b (up 118% from 2Q 2025). Profit margin: 2.3% (up from 1.5% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Construction industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 24
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 01 December 2025. Payment date: 22 December 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Vietnamese dividend payers (7.5%). Lower than average of industry peers (3.7%). New Risk • Nov 14
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 High level of non-cash earnings (32% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Reported Earnings • Nov 02
First quarter 2026 earnings released: EPS: ₫2,907 (vs ₫930 in 1Q 2025) First quarter 2026 results: EPS: ₫2,907 (up from ₫930 in 1Q 2025). Revenue: ₫7.45t (up 57% from 1Q 2025). Net income: ₫294.8b (up 217% from 1Q 2025). Profit margin: 4.0% (up from 2.0% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Construction industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₫99,800, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Construction industry in Vietnam. Total returns to shareholders of 221% over the past three years. Reported Earnings • Sep 28
Full year 2025 earnings released: EPS: ₫4,474 (vs ₫3,320 in FY 2024) Full year 2025 results: EPS: ₫4,474 (up from ₫3,320 in FY 2024). Revenue: ₫25t (up 18% from FY 2024). Net income: ₫453.8b (up 47% from FY 2024). Profit margin: 1.8% (up from 1.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Aug 30
Coteccons Construction Joint Stock Company, Annual General Meeting, Oct 20, 2025 Coteccons Construction Joint Stock Company, Annual General Meeting, Oct 20, 2025. Reported Earnings • Aug 05
Full year 2025 earnings released: EPS: ₫4,474 (vs ₫3,320 in FY 2024) Full year 2025 results: EPS: ₫4,474 (up from ₫3,320 in FY 2024). Revenue: ₫25t (up 18% from FY 2024). Net income: ₫453.8b (up 47% from FY 2024). Profit margin: 1.8% (up from 1.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 11
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.1% to ₫73,500. The fair value is estimated to be ₫60,585, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 103%. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫69,100, the stock trades at a trailing P/E ratio of 18.6x. Average forward P/E is 11x in the Construction industry in Vietnam. Total returns to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫61,758 per share. New Risk • Mar 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 5.2% 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 have declined by 26% per year over the past 5 years. High level of non-cash earnings (27% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.2% average weekly change). Upcoming Dividend • Dec 17
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 24 December 2024. Payment date: 14 January 2025. The company last paid an ordinary dividend in February 2014. The average dividend yield among industry peers is 4.5%. Buy Or Sell Opportunity • Dec 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.5% to ₫67,000. The fair value is estimated to be ₫55,618, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 102%. New Risk • Nov 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 38% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Minor Risk Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Buy Or Sell Opportunity • Nov 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 6.6% to ₫67,900. The fair value is estimated to be ₫56,551, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 101%. New Risk • Oct 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 49% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.2% increase in shares outstanding). New Risk • Oct 08
New major risk - Revenue and earnings growth Earnings have declined by 49% 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 Risk Earnings have declined by 49% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Announcement • Aug 26
Coteccons Construction Joint Stock Company, Annual General Meeting, Oct 19, 2024 Coteccons Construction Joint Stock Company, Annual General Meeting, Oct 19, 2024. New Risk • Jul 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 65% per year over the past 5 years. Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Announcement • Jun 19
Coteccons Construction Joint Stock Company (HOSE:CTD) announces an Equity Buyback for 4,000 shares, for VND 40 million. Coteccons Construction Joint Stock Company (HOSE:CTD) announces a share repurchase program. Under the program, the company will repurchase up to 4,000 shares for VND 40 million. The shares will be repurchased at a price of VND 10,000 per share. The purpose of the program is to repurchase shares of employees who resigned during the restricted transfer period. The program will be funded from the company's trade union financial resources. New Risk • May 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 65% per year over the past 5 years. Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). New Risk • May 15
New major risk - Revenue and earnings growth Earnings have declined by 65% 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. This is currently the only risk that has been identified for the company. New Risk • May 08
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended March 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. This is currently the only risk that has been identified for the company. New Risk • Mar 22
New major risk - Revenue and earnings growth Earnings have declined by 67% 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 Risk Earnings have declined by 67% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.4% average weekly change). Reported Earnings • Feb 06
Full year 2023 earnings released: EPS: ₫577 (vs ₫210 in FY 2022) Full year 2023 results: EPS: ₫577 (up from ₫210 in FY 2022). Revenue: ₫8.27t (down 43% from FY 2022). Net income: ₫57.2b (up 176% from FY 2022). Profit margin: 0.7% (up from 0.1% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Construction industry in Vietnam. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₫61,100, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Construction industry in Vietnam. Total returns to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫38,416 per share. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: ₫892 (vs ₫36.00 loss in 3Q 2022) Third quarter 2023 results: EPS: ₫892 (up from ₫36.00 loss in 3Q 2022). Revenue: ₫4.12t (up 33% from 3Q 2022). Net income: ₫66.6b (up ₫70.2b from 3Q 2022). Profit margin: 1.6% (up from net loss in 3Q 2022). Revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Construction industry in Vietnam are expected to grow by 17%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 01
Price target increased by 20% to ₫51,841 Up from ₫43,149, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₫50,300. Stock is up 59% over the past year. The company is forecast to post earnings per share of ₫2,133 for next year compared to ₫210 last year. Announcement • Oct 21
Coteccons Construction Joint Stock Company Provides Consolidated Earnings Guidance for the Fiscal Year Ending June 30, 2024 Coteccons Construction Joint Stock Company provided consolidated earnings guidance for the fiscal year ending June 30, 2024. For the year, the company expects consolidated revenue to be VND 17,793 billion. Consolidated profit after tax to be VND 274 billion. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to ₫47,250, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Construction industry in Vietnam. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₫45,319 per share. Announcement • Sep 07
Coteccons Construction Joint Stock Company, Annual General Meeting, Oct 17, 2023 Coteccons Construction Joint Stock Company, Annual General Meeting, Oct 17, 2023. New Risk • Aug 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 01
Second quarter 2023 earnings released: EPS: ₫409 (vs ₫323 loss in 2Q 2022) Second quarter 2023 results: EPS: ₫409 (up from ₫323 loss in 2Q 2022). Revenue: ₫3.62t (up 10% from 2Q 2022). Net income: ₫30.2b (up ₫54.0b from 2Q 2022). Profit margin: 0.8% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is expected to decline by 5.2% p.a. on average during the next 3 years, while revenues in the Construction industry in Vietnam are expected to grow by 12%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: ₫299 (vs ₫396 in 1Q 2022) First quarter 2023 results: EPS: ₫299 (down from ₫396 in 1Q 2022). Revenue: ₫3.13t (up 64% from 1Q 2022). Net income: ₫22.1b (down 24% from 1Q 2022). Profit margin: 0.7% (down from 1.5% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 8.3% p.a. on average during the next 3 years, while revenues in the Construction industry in Vietnam are expected to grow by 12%. 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. Major Estimate Revision • Apr 19
Consensus revenue estimates increase by 14% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from ₫13t to ₫14t. EPS estimate increased from ₫2,555 to ₫2,724 per share. Net income forecast to grow 885% next year vs 41% growth forecast for Construction industry in Vietnam. Consensus price target up from ₫37,500 to ₫43,400. Share price rose 7.1% to ₫51,300 over the past week. Reported Earnings • Feb 01
Full year 2022 earnings released: EPS: ₫280 (vs ₫323 in FY 2021) Full year 2022 results: EPS: ₫280 (down from ₫323 in FY 2021). Revenue: ₫15t (up 60% from FY 2021). Net income: ₫20.7b (down 14% from FY 2021). Profit margin: 0.1% (down from 0.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 6.3% p.a. on average during the next 3 years, while revenues in the Construction industry in Vietnam are expected to grow by 8.0%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 16
Price target increased to ₫68,450 Up from ₫63,600, the current price target is an average from 2 analysts. New target price is 154% above last closing price of ₫26,950. Stock is down 64% over the past year. The company is forecast to post earnings per share of ₫1,282 for next year compared to ₫323 last year. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Tiong Tan is the most experienced director on the board, commencing their role in 2017. Independent Director Nga Tong was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 06
Third quarter 2022 earnings released: ₫48.00 loss per share (vs ₫174 loss in 3Q 2021) Third quarter 2022 results: ₫48.00 loss per share (improved from ₫174 loss in 3Q 2021). Revenue: ₫3.11t (up 191% from 3Q 2021). Net loss: ₫3.54b (loss narrowed 70% from 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Vietnam. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 03
Second quarter 2022 earnings released: ₫323 loss per share (vs ₫611 profit in 2Q 2021) Second quarter 2022 results: ₫323 loss per share (down from ₫611 profit in 2Q 2021). Revenue: ₫3.28t (up 29% from 2Q 2021). Net loss: ₫23.9b (down 153% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 108%, compared to a 58% growth forecast for the industry in Vietnam. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 13
Price target decreased to ₫85,600 Down from ₫96,175, the current price target is an average from 2 analysts. New target price is 39% above last closing price of ₫61,800. Stock is up 3.7% over the past year. The company is forecast to post earnings per share of ₫1,611 for next year compared to ₫323 last year. Reported Earnings • May 04
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: ₫396 (down from ₫731 in 1Q 2021). Revenue: ₫1.91t (down 26% from 1Q 2021). Net income: ₫29.2b (down 46% from 1Q 2021). Profit margin: 1.5% (down from 2.1% in 1Q 2021). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 84%. Over the next year, revenue is forecast to grow 89%, compared to a 48% growth forecast for the industry in Vietnam. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Tan Tiong was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Feb 18
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₫16t to ₫16t. EPS estimate also fell from ₫6,061 per share to ₫4,450 per share. Net income forecast to grow 1,260% next year vs 53% growth forecast for Construction industry in Vietnam. Consensus price target up from ₫93,675 to ₫96,175. Share price was steady at ₫95,000 over the past week. Reported Earnings • Feb 02
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ₫326 (down from ₫4,164 in FY 2020). Revenue: ₫9.09t (down 38% from FY 2020). Net income: ₫24.2b (down 92% from FY 2020). Profit margin: 0.3% (down from 2.2% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 81%, compared to a 259% growth forecast for the industry in Vietnam. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 15
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 22 September 2021. Payment date: 20 October 2021. Trailing yield: 1.5%. Lower than top quartile of Vietnamese dividend payers (6.8%). Lower than average of industry peers (2.6%). Price Target Changed • Sep 01
Price target decreased to ₫63,150 Down from ₫75,950, the current price target is an average from 2 analysts. New target price is 9.8% below last closing price of ₫70,000. Stock is down 6.7% over the past year. Major Estimate Revision • Aug 06
Consensus revenue estimates fall to ₫14t The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from ₫15t to ₫14t. EPS estimate fell from ₫4,428 to ₫2,458 per share. Net income forecast to grow 66% next year vs 19% growth forecast for Construction industry in Vietnam. Consensus price target broadly unchanged at ₫75,500. Share price rose 3.8% to ₫65,400 over the past week. Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS ₫611 (vs ₫1,958 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫2.55t (down 36% from 2Q 2020). Net income: ₫44.9b (down 72% from 2Q 2020). Profit margin: 1.8% (down from 4.0% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 29
Consensus EPS estimates fall to ₫4,428 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ₫16t to ₫15t. EPS estimate also fell from ₫6,656 to ₫4,428. Net income forecast to grow 39% next year vs 41% growth forecast for Construction industry in Vietnam. Consensus price target down from ₫81,350 to ₫75,950. Share price rose 9.9% to ₫59,100 over the past week. Price Target Changed • Mar 17
Price target increased to ₫84,367 Up from ₫77,700, the current price target is an average from 2 analysts. New target price is 8.3% above last closing price of ₫77,900. Stock is up 41% over the past year. Major Estimate Revision • Feb 25
Analysts increase revenue estimates to ₫15t The 2021 consensus revenue estimate increased from ₫12t. Earning per share (EPS) estimate also increased from ₫6,435 to ₫6,656 for the same period. Net income is expected to grow by 18% next year compared to 11% growth forecast for the Construction industry in Vietnam. The consensus price target increased from ₫77,700 to ₫79,200. Share price is up 2.2% to ₫74,800 over the past week. Reported Earnings • Feb 06
Full year 2020 earnings released: EPS ₫5,769 (vs ₫8,859 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: ₫15t (down 39% from FY 2019). Net income: ₫440.1b (down 35% from FY 2019). Profit margin: 3.0% (up from 2.8% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue and earnings miss expectations Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 32%. Over the next year, revenue is expected to shrink by 18% compared to a 13% decline forecast for the Construction industry in Vietnam. Is New 90 Day High Low • Jan 12
New 90-day high: ₫84,100 The company is up 37% from its price of ₫61,300 on 14 October 2020. The Vietnamese market is up 25% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 40% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: ₫73,800 The company is up 1.0% from its price of ₫72,900 on 24 September 2020. The Vietnamese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫22,445 per share. Announcement • Oct 07
Coteccons Construction Joint Stock Company Announces Board Changes Coteccons Construction Joint Stock Company announced that its Board of Directors accepted the letter of resignation from the position as Chairman and member of the Board of Directors of Mr. Nguyen Ba Duong. He is no longer legal representative of the company from October 2, 2020. The Board of Directors decided to elect Mr. Bolat Duisenov as Chairman of the Board of Directors from October 5, 2020. Is New 90 Day High Low • Oct 06
New 90-day low: ₫64,500 The company is down 19% from its price of ₫80,100 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 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₫28,739 per share. Announcement • Sep 26
Coteccons Construction Joint Stock Company Appoints Bolat Duisenov as Head of Strategy Committee Coteccons Construction Joint Stock Company announced that the board of directors has approved the appointment of Bolat Duisenov as Head of Strategy Committee.