Declared Dividend • May 14
Dividend of ₫1,200 announced Shareholders will receive a dividend of ₫1,200. Ex-date: 26th May 2026 Payment date: 10th June 2026 Dividend yield will be 6.2%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but not covered by cash flows (105% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 13
Petrolimex Insurance Corporation announces Annual dividend, payable on June 10, 2026 Petrolimex Insurance Corporation announced Annual dividend of VND 1200.0000 per share payable on June 10, 2026, ex-date on May 26, 2026 and record date on May 27, 2026. Buy Or Sell Opportunity • May 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to ₫19,200. The fair value is estimated to be ₫24,031, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 16%. Buy Or Sell Opportunity • Apr 24
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.1% to ₫18,500. The fair value is estimated to be ₫24,347, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 16%. Buy Or Sell Opportunity • Mar 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.0% to ₫19,400. The fair value is estimated to be ₫24,347, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 17%. Buy Or Sell Opportunity • Mar 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to ₫19,450. The fair value is estimated to be ₫24,347, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 17%. Announcement • Feb 16
Petrolimex Insurance Corporation, Annual General Meeting, Apr 15, 2026 Petrolimex Insurance Corporation, Annual General Meeting, Apr 15, 2026. Location: mipec palace convention center, no. 229 tay son, kim lien ward, hanoi Vietnam Buy Or Sell Opportunity • Feb 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.0% to ₫19,100. The fair value is estimated to be ₫24,347, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 17%. Reported Earnings • Jan 30
Full year 2025 earnings released: EPS: ₫2,214 (vs ₫2,094 in FY 2024) Full year 2025 results: EPS: ₫2,214 (up from ₫2,094 in FY 2024). Revenue: ₫3.78t (up 6.6% from FY 2024). Net income: ₫245.5b (up 5.7% from FY 2024). Profit margin: 6.5% (down from 6.6% in FY 2024). 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 fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Jan 15
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: Minor Risks Dividend is not well covered by cash flows (307% cash payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (₫2.16t market cap, or US$82.0m). Reported Earnings • Oct 31
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₫834.6b (up 9.6% from 3Q 2024). Net income: ₫37.9b (up 1.2% from 3Q 2024). Profit margin: 4.5% (down from 4.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Reported Earnings • Jul 30
Second quarter 2025 earnings released: EPS: ₫788 (vs ₫807 in 2Q 2024) Second quarter 2025 results: EPS: ₫788 (down from ₫807 in 2Q 2024). Revenue: ₫969.5b (up 2.9% from 2Q 2024). Net income: ₫87.4b (down 2.4% from 2Q 2024). Profit margin: 9.0% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 27
First quarter 2025 earnings released First quarter 2025 results: Revenue: ₫894.3b (down 3.5% from 1Q 2024). Net income: ₫71.3b (up 5.3% from 1Q 2024). Profit margin: 8.0% (up from 7.3% in 1Q 2024). The increase in margin was driven by lower expenses. Reported Earnings • Mar 23
Full year 2024 earnings released: EPS: ₫2,094 (vs ₫1,557 in FY 2023) Full year 2024 results: EPS: ₫2,094 (up from ₫1,557 in FY 2023). Revenue: ₫3.54t (up 5.6% from FY 2023). Net income: ₫232.2b (up 35% from FY 2023). Profit margin: 6.6% (up from 5.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Announcement • Feb 26
Petrolimex Insurance Corporation, Annual General Meeting, Apr 18, 2025 Petrolimex Insurance Corporation, Annual General Meeting, Apr 18, 2025. Location: mipec palace, no. 229, tay son street, dong da district, ha noi Vietnam Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫27,500, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 12x in the Insurance industry in Vietnam. Total returns to shareholders of 31% over the past three years. Announcement • Feb 07
Petrolimex Insurance Corporation Announces Interim Cash Dividend for 2024, Payable on March 04, 2025 Petrolimex Insurance Corporation announced interim cash dividend for 2024. Ex-right date is February 13, 2025. Record date is February 14, 2025. Exercise ratio is 10%/par value (VND 1,000/share). Payment date is March 04, 2025. Upcoming Dividend • Feb 07
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 13 February 2025. Payment date: 04 March 2025. Payout ratio is a comfortable 57% and the cash payout ratio is 81%. Trailing yield: 4.9%. Lower than top quartile of Vietnamese dividend payers (7.7%). Higher than average of industry peers (3.1%). Reported Earnings • Jan 27
Full year 2024 earnings released: EPS: ₫2,094 (vs ₫2,066 in FY 2023) Full year 2024 results: EPS: ₫2,094 (up from ₫2,066 in FY 2023). Revenue: ₫3.42t (up 1.9% from FY 2023). Net income: ₫232.2b (up 1.4% from FY 2023). Profit margin: 6.8% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat. Declared Dividend • Jan 24
Dividend of ₫1,000 announced Dividend of ₫1,000 is the same as last year. Ex-date: 13th February 2025 Payment date: 4th March 2025 Dividend yield will be 5.2%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 6.5% 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 decline by 36% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.2% EPS decline seen over the last 3 years. New Risk • Jan 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 5.0% 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: 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 (5.0% average weekly change). Market cap is less than US$100m (₫2.41t market cap, or US$94.1m). New Risk • Oct 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₫2.50t (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₫2.50t market cap, or US$99.8m). Reported Earnings • Aug 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₫942.2b (up 15% from 2Q 2023). Net income: ₫89.5b (down 6.9% from 2Q 2023). Profit margin: 9.5% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Upcoming Dividend • May 31
Upcoming dividend of ₫200 per share Eligible shareholders must have bought the stock before 07 June 2024. Payment date: 27 June 2024. Trailing yield: 5.0%. Lower than top quartile of Vietnamese dividend payers (8.7%). Higher than average of industry peers (3.3%). Buy Or Sell Opportunity • Apr 04
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to ₫26,500. The fair value is estimated to be ₫21,662, 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 4.7%. Upcoming Dividend • Feb 16
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 23 February 2024. Payment date: 15 March 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.2%. Lower than top quartile of Vietnamese dividend payers (8.5%). Higher than average of industry peers (3.7%). Announcement • Feb 08
Petrolimex Insurance Corporation Approves Cash Dividend for 2023, Payable on March 15, 2024 The Board of Directors of Petrolimex Insurance Corporation approved to pay for the 2023 dividend in cash: Record date: February 26, 2024, Payment date: March 15, 2024 and Dividend pay-out ratio: 10%/par value (VND 1,000/share). Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: ₫2,066 (vs ₫1,970 in FY 2022) Full year 2023 results: EPS: ₫2,066 (up from ₫1,970 in FY 2022). Revenue: ₫3.23t (up 2.6% from FY 2022). Net income: ₫229.1b (up 12% from FY 2022). Profit margin: 7.1% (up from 6.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Dec 07
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 7.7% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 203% Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). New Risk • Jul 30
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 123% Cash payout ratio: 105% Dividend yield: 4.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 29
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ₫785.5b (down 5.0% from 2Q 2022). Net income: ₫96.2b (up 30% from 2Q 2022). Profit margin: 12% (up from 8.9% in 2Q 2022). The increase in margin was driven by lower expenses. Announcement • Jun 15
Petrolimex Insurance Corporation Announces Changes to Board Petrolimex Insurance Corporation announced the change in personnel as follows: Mr. Bui Van Giang, Former Position in the Organization: - Newly Appointed Position: Deputy CEO, Effective Date: June 15, 2023. Mr. Tran Anh Tuan, Former Position in the Organization: - Newly Appointed Position: Deputy CEO - Term: 05 Years - Effective Date: June 15, 2023. Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: ₫1,837 (vs ₫2,868 in FY 2021) Full year 2022 results: EPS: ₫1,837 (down from ₫2,868 in FY 2021). Revenue: ₫3.16t (flat on FY 2021). Net income: ₫203.7b (down 36% from FY 2021). Profit margin: 6.5% (down from 10% in FY 2021). Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 23% per year. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 18% share price gain to ₫28,200, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Insurance industry in Asia. Total returns to shareholders of 145% over the past three years. Upcoming Dividend • Dec 01
Upcoming dividend of ₫1,200 per share Eligible shareholders must have bought the stock before 08 December 2022. Payment date: 28 December 2022. Payout ratio is on the higher end at 93% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Vietnamese dividend payers (9.2%). Lower than average of industry peers (6.3%). Announcement • Nov 18
Petrolimex Insurance Corporation Approves First Cash Dividend for 2022, Payable on December 28, 2022 The BOD of Petrolimex Insurance Corporation approved to pay first cash dividend for 2022 as follows: Exercise ratio: 12% (1,200 dongs/share) Record date: December 09, 2022, Payment time: December 28, 2022. Price Target Changed • Nov 16
Price target increased to ₫24,800 Up from ₫16,640, the current price target is provided by 1 analyst. New target price is 6.4% below last closing price of ₫26,500. Stock is up 6.9% over the past year. The company is forecast to post earnings per share of ₫2,886 for next year compared to ₫2,868 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Director Huong Thi Trinh 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. Announcement • Nov 09
Petrolimex Insurance Corporation Appoints Vuong Quoc Hung as Head of Internal Audit Board Petrolimex Insurance Corporation appointed Mr. Vuong Quoc Hung as Head of internal audit board, November 08, 2022. Reported Earnings • Nov 02
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: ₫627.8b (down 3.7% from 3Q 2021). Net income: ₫17.8b (down 82% from 3Q 2021). Profit margin: 2.8% (down from 15% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Insurance industry in Asia. Upcoming Dividend • May 30
Upcoming dividend of ₫800 per share Eligible shareholders must have bought the stock before 06 June 2022. Payment date: 24 June 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Vietnamese dividend payers (7.1%). Lower than average of industry peers (2.7%). Announcement • May 19
Petrolimex Insurance Corporation Approves the Cash Dividend Payment for 2021, Payment Date Is June 24, 2022 Petrolimex Insurance Corporation approved the cash dividend payment for 2021 as follows: Exercise ratio: 8%/par value (800 dongs/share). Record date is June 07, 2022. Payment date is June 24, 2022. Reported Earnings • May 02
First quarter 2022 earnings: Revenues in line with analyst expectations First quarter 2022 results: Revenue: ₫793.5b (down 1.1% from 1Q 2021). Net income: ₫70.6b (up 24% from 1Q 2021). Profit margin: 8.9% (up from 7.1% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 2.9% compared to a 17% decline forecast for the industry in Vietnam. Price Target Changed • Apr 27
Price target increased to ₫31,000 Up from ₫16,640, the current price target is provided by 1 analyst. New target price is 11% above last closing price of ₫27,900. Stock is up 74% over the past year. The company is forecast to post earnings per share of ₫2,859 for next year compared to ₫2,868 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Director Huong Thi Trinh 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. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫29,000, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Insurance industry in Asia. Total returns to shareholders of 149% over the past three years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 16% share price gain to ₫36,900, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 9x in the Insurance industry in Asia. Total returns to shareholders of 166% over the past three years. Announcement • Mar 06
Petrolimex Insurance Corporation Announces Resignation of Dao Nam Hai as CEO Petrolimex Insurance Corporation announced the resignation of Mr. Dao Nam Hai as CEO due to new tasks as assigned by Viet Nam National Petroleum Group. Effective date: March 01, 2022. Reported Earnings • Feb 02
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ₫3,968 (up from ₫1,651 in FY 2020). Revenue: ₫3.12t (up 3.9% from FY 2020). Net income: ₫352.0b (up 140% from FY 2020). Profit margin: 11% (up from 4.9% in FY 2020). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 2.9% compared to a 20% decline forecast for the insurance industry in Vietnam. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 29
Third quarter 2021 earnings released The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ₫624.4b (down 8.3% from 3Q 2020). Net income: ₫97.4b (up 258% from 3Q 2020). Profit margin: 16% (up from 4.0% in 3Q 2020). The increase in margin was driven by lower expenses. Price Target Changed • Oct 26
Price target increased to ₫22,800 Up from ₫20,800, the current price target is provided by 1 analyst. New target price is 19% below last closing price of ₫28,150. Stock is up 49% over the past year. The company is forecast to post earnings per share of ₫1,832 for next year compared to ₫1,651 last year. Board Change • Oct 26
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 9 non-independent directors. Independent Director Huong Quynh Trinh 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. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 19% share price gain to ₫23,800, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Insurance industry in Asia. Total returns to shareholders of 61% over the past three years. Upcoming Dividend • Jun 04
Upcoming dividend of ₫200 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 28 June 2021. Trailing yield: 5.9%. Lower than top quartile of Vietnamese dividend payers (7.7%). Higher than average of industry peers (2.9%). Reported Earnings • Mar 21
Full year 2020 earnings released: EPS ₫1,978 (vs ₫1,702 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫2.99t (up 12% from FY 2019). Net income: ₫175.5b (up 16% from FY 2019). Profit margin: 5.9% (up from 5.6% 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 10% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 31
New 90-day high: ₫21,650 The company is up 11% from its price of ₫19,500 on 02 October 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: ₫20,800 The company is up 2.0% from its price of ₫20,400 on 15 September 2020. The Vietnamese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 14% over the same period.