TVS

CTCP Chứng khoán Thiên Việt · HOSE

14,850 Latest close · 01 Jul 2026 P/E — P/B —

TRADING VOLATILE · Trading share Revaluation 69.7% of PBT

On a TTM basis through 2026Q1, pre-tax profit is currently about 314.0bn, equivalent to a pre-tax margin of 28.8%, but headline durability remains more sensitive to revaluation, with margin also improving by +1.4pp, pointing to better earnings quality. The revenue mix still leans mainly on trading at 80.3% after expanding by +0.2pp, while lending is at 4.5%; brokerage and services have reached 15.2% and improved by +0.9pp, making diversification more visible. On the balance sheet, Equity / Assets is 48.9% while Leverage is about 1.04x, indicating a still relatively balanced capital posture, with buffers thickening and leverage easing further.

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