Analysis of business results & financial statements · Quý 2/2026
▼ Under pressure
See what is changing ↓- P/E
- —
- P/B
- 0.98x
- EPS
- —
- BVPS
- 14,319
- ROE
- 9.1%
- ROA
- 5.4%
- Market price
- 14,000 15 Oct 2026
The current picture
What Is Changing
On a Năm 2025 basis, BBT is holding revenue at an acceptable level, but margins are eroding visibly — profit momentum has been slowing across consecutive periods. What is still missing is better cost control to prevent margin pressure from spreading to the overall profit result.
Across periods
A single data point, or a trajectory?
Latest eight quarters · Quý 2/2026
| Metric | Q2'26 | Q1'26 | Q4'25 |
|---|---|---|---|
| Revenue | 79.0 | 67.6 | 80.3 |
| LNST | 12.9 | 3.2 | 2.7 |
| Net margin | 16.34% | 4.74% | 3.40% |
Revenue
79bnNet income
13bnNet margin
16.34%Inside the statements
A closer look at what is happening inside the business
A company's statements are read with the questions that fit its type of business.
Is the profit sustainable?
Margins are broadly flat — earnings quality is the factor to watch.
What is driving the margin?
●Track net margin changes and the operating components against the same period last year.
None
- Net Margin
- 6.61% −2.5pp
- Gross Margin
- None
- SG&A / Revenue
- None
Is capital being used efficiently?
Evaluate capital, asset, and working-capital efficiency.
Working Capital Efficiency
●Track receivable, inventory, and payable turns to judge working-capital efficiency.
Track DSO, DIO, DPO components to evaluate working capital turnover efficiency.
Is financial risk significant?
Check leverage, liquidity, and cash-flow conversion.
Leverage & Liquidity
▲Track net leverage, interest coverage, and the liquidity buffer on the balance sheet.
At present, short-term debt accounts for 100.0% of total debt, cash equals 47.2% of debt, and total debt stands at 65.1bn.
- Net Debt / Equity
- 0.35x
- Interest Coverage
- None
- Cash / Debt
- 47.2%
- Short-term Debt / Total Debt
- 100.0%
Short-term debt accounts for 100.0% of total debt, raising near-term refinancing needs.
Balance Sheet
●Capital structure is conservative with low leverage — liabilities at 0.44x equity, net debt at 0.35x equity.
None
Over the last 12 months, working capital released 0.0bn of cash.
What to verify next
Questions for the next period
Whether revenue sustains its +24,8% YoY pace or begins to slow.
Whether margins hold around the current 6.61% level or narrow again.
Whether operating cash flow holds its 24.1bn (cumulative for 2025) level in upcoming periods or weakens.
From one stock to the whole portfolio
Where does this stock stand
among the rest of your investments?
Each stock is only one part of the wider picture. Looking at investments side by side makes their contribution, risks and opportunities across the portfolio clearer.
How much does this stock
contribute to the portfolio?
Its weight and influence across the assets held for investment.
Is the portfolio
well balanced?
How holdings, sectors and asset groups are distributed in relation to overall risk.
What other opportunities
or risks may be present?
What becomes visible only when investments are viewed together rather than one ticker at a time.