VCI

CTCP Chứng khoán Vietcap · HOSE

24,350 Latest close · 30 Jun 2026 P/E — P/B —

TRADING-LED STRONG · Trading share Trading share 48.4%, NPAT +37.7% YoY

On a TTM basis through 2026Q1, pre-tax profit is currently about 1,678.0bn, equivalent to a pre-tax margin of 30.3%, showing a relatively clean and sufficiently thick earnings base, while margin has narrowed by 2.2pp, pointing to greater pressure on earnings quality. The revenue mix still leans mainly on trading at 48.4% but narrowing by 2.3pp, while lending is at 26.6%; brokerage and services have reached 25.0% and improved by +2.7pp, making diversification more visible. On the balance sheet, Equity / Assets is 46.7% while Leverage is about 1.14x, indicating that buffers and funding are not yet truly roomy, but buffers have thinned while leverage has risen further.

View Full Financial Analysis