Buy Or Sell Opportunity • 19h
Now 25% overvalued Over the last 90 days, the stock has fallen 14% to ₫9,000. The fair value is estimated to be ₫7,220, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.9% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Jun 05
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 12 June 2026. Payment date: 22 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.8%. Within top quartile of Vietnamese dividend payers (7.9%). Higher than average of industry peers (6.2%). Tillkännagivande • Feb 05
Everpia Joint Stock Company, Annual General Meeting, Apr 22, 2026 Everpia Joint Stock Company, Annual General Meeting, Apr 22, 2026. Location: branch of everpia jsc, tan quang, van lam, hung yen, Vietnam Reported Earnings • Feb 03
Full year 2025 earnings released: EPS: ₫918 (vs ₫719 loss in FY 2024) Full year 2025 results: EPS: ₫918 (up from ₫719 loss in FY 2024). Revenue: ₫750.7b (up 1.3% from FY 2024). Net income: ₫38.6b (up ₫68.7b from FY 2024). Profit margin: 5.1% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: ₫436 (vs ₫702 loss in 3Q 2024) Third quarter 2025 results: EPS: ₫436 (up from ₫702 loss in 3Q 2024). Revenue: ₫206.0b (down 1.1% from 3Q 2024). Net income: ₫18.3b (up ₫47.8b from 3Q 2024). Profit margin: 8.9% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 13
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 20 May 2025. Payment date: 28 May 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.4%. Lower than top quartile of Vietnamese dividend payers (8.0%). Higher than average of industry peers (4.1%). Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: ₫17.00 (vs ₫26.56 in 1Q 2024) First quarter 2025 results: EPS: ₫17.00 (down from ₫26.56 in 1Q 2024). Revenue: ₫143.3b (down 14% from 1Q 2024). Net income: ₫720.6m (down 35% from 1Q 2024). Profit margin: 0.5% (down from 0.7% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Tillkännagivande • Feb 21
Everpia Joint Stock Company, Annual General Meeting, Apr 23, 2025 Everpia Joint Stock Company, Annual General Meeting, Apr 23, 2025. Location: hung yen branch, tan quang commune, van lam district, hung yen province, Vietnam Reported Earnings • Nov 03
Third quarter 2024 earnings released: ₫702 loss per share (vs ₫83.00 profit in 3Q 2023) Third quarter 2024 results: ₫702 loss per share (down from ₫83.00 profit in 3Q 2023). Revenue: ₫208.2b (down 1.9% from 3Q 2023). Net loss: ₫29.5b (down ₫33.0b from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 02
Second quarter 2024 earnings released: ₫205 loss per share (vs ₫89.23 profit in 2Q 2023) Second quarter 2024 results: ₫205 loss per share (down from ₫89.23 profit in 2Q 2023). Revenue: ₫169.1b (down 15% from 2Q 2023). Net loss: ₫8.60b (down 330% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Board Change • Jul 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Seung Yi was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • May 29
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 05 June 2024. Payment date: 14 June 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.6%. Lower than top quartile of Vietnamese dividend payers (8.7%). Lower than average of industry peers (5.3%). Declared Dividend • May 15
Dividend reduced to ₫500 Dividend of ₫500 is 55% lower than last year. Ex-date: 5th June 2024 Payment date: 14th June 2024 Dividend yield will be 3.5%, which is lower than the industry average of 7.0%. Sustainability & Growth Dividend is not covered by earnings (118% earnings payout ratio) nor is it covered by cash flows (110% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 31% to bring the payout ratio under control. However, EPS has declined by 28% over the last 5 years so the company would need to reverse this trend. New Risk • May 04
New major risk - Revenue and earnings growth Earnings have declined by 1.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 124% Cash payout ratio: 241% Earnings have declined by 1.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (₫591.9b market cap, or US$23.1m). Reported Earnings • Feb 05
Full year 2023 earnings released: EPS: ₫426 (vs ₫2,215 in FY 2022) Full year 2023 results: EPS: ₫426 (down from ₫2,215 in FY 2022). Revenue: ₫786.9b (down 23% from FY 2022). Net income: ₫17.9b (down 81% from FY 2022). Profit margin: 2.3% (down from 9.0% in FY 2022). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year. New Risk • Aug 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% 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 Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (₫753.5b market cap, or US$31.8m). Reported Earnings • Aug 01
Second quarter 2023 earnings released: EPS: ₫103 (vs ₫291 in 2Q 2022) Second quarter 2023 results: EPS: ₫103 (down from ₫291 in 2Q 2022). Revenue: ₫199.3b (down 28% from 2Q 2022). Net income: ₫4.33b (down 64% from 2Q 2022). Profit margin: 2.2% (down from 4.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 27% per year. Board Change • Jun 02
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Yen Le Nguyen was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • May 26
Everpia Joint Stock Company Appoints Lee Bang Hyun as Member of the BOD Everpia Joint Stock Company announced the appointment of Mr. Lee Bang Hyun as member of the BOD for the term 2022 – 2026. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫18,950, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 18x in the Consumer Durables industry in Asia. Total returns to shareholders of 117% over the past three years. Upcoming Dividend • May 19
Upcoming dividend of ₫1,100 per share at 5.6% yield Eligible shareholders must have bought the stock before 26 May 2023. Payment date: 06 June 2023. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 5.6%. Lower than top quartile of Vietnamese dividend payers (8.7%). Higher than average of industry peers (2.5%). Tillkännagivande • May 14
Everpia Joint Stock Company Plans to Pay Cash Dividend for 2022, Payable on June 6, 2023 Everpia Joint Stock Company plans to pay cash dividend for 2022 of 11.0% (VND 1100 /share) with expected execution date June 6, 2023. Expected closing date is May 29, 2023. Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: ₫2,192 (vs ₫1,570 in FY 2021) Full year 2022 results: EPS: ₫2,192 (up from ₫1,570 in FY 2021). Revenue: ₫1.02t (up 18% from FY 2021). Net income: ₫92.0b (up 54% from FY 2021). Profit margin: 9.0% (up from 6.9% in FY 2021). 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 only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Yen Le Nguyen was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: ₫991 (vs ₫167 in 3Q 2021) Third quarter 2022 results: EPS: ₫991 (up from ₫167 in 3Q 2021). Revenue: ₫264.8b (up 71% from 3Q 2021). Net income: ₫42.2b (up ₫35.8b from 3Q 2021). Profit margin: 16% (up from 4.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Oct 20
Everpia Joint Stock Company Appoints Mr. Cho Yang Hwan as Head of the Branch in Dong Nai Everpia Joint Stock Company announced that on October 18, 2022, the board of directors issued resolution about the appointment of Mr. Cho yang Hwan-Chairman, Senior Director of the company to take the position of head of the branch in Dong Nai. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: ₫291 (vs ₫111 in 2Q 2021) Second quarter 2022 results: EPS: ₫291 (up from ₫111 in 2Q 2021). Revenue: ₫278.8b (up 23% from 2Q 2021). Net income: ₫11.9b (up 182% from 2Q 2021). Profit margin: 4.3% (up from 1.9% in 2Q 2021). The increase in margin was driven by higher revenue. 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 increased by 6% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • May 31
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 07 June 2022. Payment date: 17 June 2022. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 6.5%. Lower than top quartile of Vietnamese dividend payers (7.1%). In line with average of industry peers (6.3%). Tillkännagivande • May 24
Everpia Joint Stock Company Announces Cash Dividend of 2021, Payable on June 17, 2022 Everpia Joint Stock Company announced to pay cash dividend for 2021 of 10.0% (1,000 dongs/share) with payment date June 17, 2022. Record date is June 8, 2022 and Ex-right date is June 7, 2022. Tillkännagivande • May 13
Everpia Joint Stock Company Elects Truong Tuan Nghia as Head of the Board of Supervisors Everpia Joint Stock Company resolved to elect Mr. Truong Tuan Nghia as head of the Board of Supervisors from previous position of member of board of supervisors. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: ₫359 (vs ₫120 in 1Q 2021) First quarter 2022 results: EPS: ₫359 (up from ₫120 in 1Q 2021). Revenue: ₫193.3b (up 3.2% from 1Q 2021). Net income: ₫14.7b (up 224% from 1Q 2021). Profit margin: 7.6% (up from 2.4% in 1Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yen Le Nguyen 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. Reported Earnings • Apr 05
Full year 2021 earnings released: EPS: ₫1,570 (vs ₫1,105 in FY 2020) Full year 2021 results: EPS: ₫1,570 (up from ₫1,105 in FY 2020). Revenue: ₫865.9b (up 1.2% from FY 2020). Net income: ₫59.7b (up 42% from FY 2020). Profit margin: 6.9% (up from 4.9% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 20% share price gain to ₫20,200, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 14x in the Consumer Durables industry in Vietnam. Total returns to shareholders of 53% over the past three years. Reported Earnings • Jan 30
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫1,570 (up from ₫1,105 in FY 2020). Revenue: ₫865.9b (up 1.2% from FY 2020). Net income: ₫59.7b (up 42% from FY 2020). Profit margin: 6.9% (up from 4.9% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS ₫167 (vs ₫468 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₫155.1b (down 27% from 3Q 2020). Net income: ₫6.36b (down 64% from 3Q 2020). Profit margin: 4.1% (down from 8.4% in 3Q 2020). The decrease in margin was driven by lower revenue. 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 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improved over the past week After last week's 18% share price gain to ₫17,600, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 15x in the Consumer Durables industry in Asia. Total returns to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 16% share price gain to ₫15,900, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 15x in the Consumer Durables industry in Asia. Total returns to shareholders of 26% over the past three years. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS ₫111 (vs ₫142 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: ₫226.2b (up 16% from 2Q 2020). Net income: ₫4.23b (down 21% from 2Q 2020). Profit margin: 1.9% (down from 2.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year. Upcoming Dividend • May 17
Upcoming dividend of ₫1,000 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 02 June 2021. Trailing yield: 6.0%. Lower than top quartile of Vietnamese dividend payers (7.5%). Higher than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 15% share price gain to ₫15,700, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 20x in the Consumer Durables industry in Asia. Total returns to shareholders of 14% over the past three years. Reported Earnings • Feb 04
Full year 2020 earnings released: EPS ₫1,082 (vs ₫1,889 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫854.9b (down 15% from FY 2019). Net income: ₫41.2b (down 43% from FY 2019). Profit margin: 4.8% (down from 7.2% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₫12,300, the stock is trading at a trailing P/E ratio of 10x, down from the previous P/E ratio of 11.8x. This compares to an average P/E of 20x in the Consumer Durables industry in Asia. Total return to shareholders over the past three years is a loss of 9.9%. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 18% share price gain to ₫14,650, the stock is trading at a trailing P/E ratio of 11.9x, up from the previous P/E ratio of 10.1x. This compares to an average P/E of 19x in the Consumer Durables industry in Asia. Total return to shareholders over the past three years is a loss of 7.6%. Is New 90 Day High Low • Jan 08
New 90-day high: ₫13,750 The company is up 27% from its price of ₫10,800 on 09 October 2020. The Vietnamese market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 22% share price gain to ₫13,100, the stock is trading at a trailing P/E ratio of 10.7x, up from the previous P/E ratio of 8.7x. This compares to an average P/E of 20x in the Consumer Durables industry in Asia. Total return to shareholders over the past three years is a loss of 15%. Is New 90 Day High Low • Dec 03
New 90-day high: ₫11,700 The company is up 14% from its price of ₫10,300 on 04 September 2020. The Vietnamese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 13% over the same period. Reported Earnings • Nov 04
Third quarter 2020 earnings released: EPS ₫468 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₫212.6b (down 26% from 3Q 2019). Net income: ₫17.8b (down 33% from 3Q 2019). Profit margin: 8.4% (down from 9.2% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 01
New 90-day high: ₫10,900 The company is up 14% from its price of ₫9,570 on 03 July 2020. The Vietnamese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 15% over the same period. 
