VICEM Cement Trading (HNX:TMX) - Share price, News & Analysis

TMX fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	1/6
Financial Health	6/6
Dividends	2/6

TMX Stock Overview

VICEM Cement Trading Joint Stock Company provides cement products in Vietnam.

Rewards

Trading at 75.3% below our estimate of its fair value

Risk Analysis

Earnings have declined by 17.6% per year over past 5 years

Does not have a meaningful market cap (₫70B)

Dividend of 6.84% is not well covered by earnings

Profit margins (0.5%) are lower than last year (1.4%)

VICEM Cement Trading Competitors

Price History & Performance

Summary of all time highs, changes and price drops for VICEM Cement Trading
Historical stock prices
Current Share Price	₫11,700.00
52 Week High	₫16,300.00
52 Week Low	₫10,200.00
Beta	-0.41
1 Month Change	-3.31%
3 Month Change	1.74%
1 Year Change	0%
3 Year Change	-0.85%
5 Year Change	11.43%
Change since IPO	-50.42%

Shareholder Returns

	TMX	VN Basic Materials	VN Market
7D	0.9%	-3.6%	-4.7%
1Y	0%	8.6%	-1.7%

Return vs Industry: TMX underperformed the VN Basic Materials industry which returned 6.2% over the past year.

Return vs Market: TMX exceeded the VN Market which returned -1.9% over the past year.

Price Volatility

Is TMX's price volatile compared to industry and market?
TMX volatility
TMX Average Weekly Movement	8.7%
Basic Materials Industry Average Movement	7.2%
Market Average Movement	7.6%
10% most volatile stocks in VN Market	10.8%
10% least volatile stocks in VN Market	4.2%

Stable Share Price: TMX is not significantly more volatile than the rest of VN stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: TMX's weekly volatility (9%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1993	n/a	n/a	https://tmx.com.vn

VICEM Cement Trading Joint Stock Company provides cement products in Vietnam. The company also engages in the production and trade of additives, building materials, and materials for cement production; production and packaging business for the production of cement, as well as civil and industrial products; and provision of sports and entertainment services. In addition, it is involved in the repair of automobiles and motorcycles, as well as mechanical processing activities; provision of sea, rail, and road transport services; and civil construction, real estate development and rental business activities.

VICEM Cement Trading Fundamentals Summary

How do VICEM Cement Trading's earnings and revenue compare to its market cap?
TMX fundamental statistics
Market Cap	₫70.20b
Earnings (TTM)	₫2.38b
Revenue (TTM)	₫510.95b

29.5x

P/E Ratio

0.1x

P/S Ratio

Is TMX overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
TMX income statement (TTM)
Revenue	₫510.95b
Cost of Revenue	₫493.23b
Gross Profit	₫17.71b
Other Expenses	₫15.34b
Earnings	₫2.38b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	396.24
Gross Margin	3.47%
Net Profit Margin	0.46%
Debt/Equity Ratio	0.0%

How did TMX perform over the long term?

See historical performance and comparison

Dividends

6.8%

Current Dividend Yield

202%

Payout Ratio

Valuation

Is VICEM Cement Trading undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TMX (₫11700) is trading below our estimate of fair value (₫47360.99)

Significantly Below Fair Value: TMX is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: TMX is poor value based on its PE Ratio (29.5x) compared to the VN Basic Materials industry average (17.2x).

PE vs Market: TMX is poor value based on its PE Ratio (29.5x) compared to the VN market (12.6x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TMX's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: TMX is good value based on its PB Ratio (0.7x) compared to the VN Basic Materials industry average (1.5x).

Future Growth

How is VICEM Cement Trading forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

15.5%

Forecasted Materials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as VICEM Cement Trading has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has VICEM Cement Trading performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-17.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TMX has high quality earnings.

Growing Profit Margin: TMX's current net profit margins (0.5%) are lower than last year (1.4%).

Past Earnings Growth Analysis

Earnings Trend: TMX's earnings have declined by 17.6% per year over the past 5 years.

Accelerating Growth: TMX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TMX had negative earnings growth (-70%) over the past year, making it difficult to compare to the Basic Materials industry average (-21.9%).

Return on Equity

High ROE: TMX's Return on Equity (2.5%) is considered low.

Financial Health

How is VICEM Cement Trading's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: TMX's short term assets (₫138.7B) exceed its short term liabilities (₫44.8B).

Long Term Liabilities: TMX's short term assets (₫138.7B) exceed its long term liabilities (₫2.0B).

Debt to Equity History and Analysis

Debt Level: TMX is debt free.

Reducing Debt: TMX has not had any debt for past 5 years.

Debt Coverage: TMX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: TMX has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is VICEM Cement Trading current dividend yield, its reliability and sustainability?

Dividend Score

1/6

Dividend Score 1/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

6.84%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TMX's dividend (6.84%) is higher than the bottom 25% of dividend payers in the VN market (2.87%).

High Dividend: TMX's dividend (6.84%) is low compared to the top 25% of dividend payers in the VN market (7.35%).

Stability and Growth of Payments

Stable Dividend: TMX has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: TMX has only been paying a dividend for 8 years, and since then payments have not increased.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (202.4%), TMX's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (54.2%), TMX's dividend payments are covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Materials industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

CEO

VICEM Cement Trading has no CEO, or we have no data on them.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/18 00:00
End of Day Share Price	2022/05/18 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31