VNB

Sách Việt Nam ·UPCOM ·2026Q1

▼ Slightly negative

Working capital is tied up too long in the operating cycle Working capital 204 days

Price

14,300

Latest close

03 Jun 2026

P/E 11.73x

P/B 0.81x

EPS 1,219

BVPS 17,757

ROE 7.1%

ROA 6.9%

Profit Margin 299.6%

Asset Turnover 0.02x

Equity Mult. 1.02x

TTM · Applied to: EPS, ROE, ROA, Net Margin, Asset Turnover, Debt/Equity

What Is Changing

On a TTM 2026Q1 basis, VNB has not accelerated revenue, but profitability is improving more visibly — profit is at an all-time high. More notably, profit relies heavily on non-core sources while operating cash flow is negative — these two factors together suggest earnings quality needs cautious evaluation.

	                            
	                                TTM REVENUE
	                            
	                                    VND 28bn
	                                
−10.6%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 83bn
	                                
+6.8%YoY

	                            
	                                Net financial result / PBT
	                            
	                                    121.0%
	                                
affects earnings quality

Metric	2025	2024	2023	2022	2021
Revenue	29.8	31.7	34.2	33.7	23.1
Growth	-6%	-7%	+1%	+46%	—
Net Income	83.1	75.1	68.8	40.0	32.7
Net Margin	279.05%	236.66%	201.19%	118.68%	141.49%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	4.3	9.1	6.8	7.5	6.4	8.6	8.4	7.4	7.3	9.0	8.4	8.9
Growth	-53%	+33%	-9%	+16%	-25%	+2%	+13%	+2%	-19%	+8%	-6%	—
Net Income	20.5	18.7	22.3	21.3	20.7	20.2	19.9	16.6	18.4	18.2	17.9	16.2
Net Margin	478.57%	205.99%	327.74%	284.90%	321.57%	235.95%	236.34%	223.15%	251.64%	201.48%	214.39%	182.94%

Drivers of VNB's profit

TTM

Net profit attributable to parent increased vs last year, mainly helped by higher financial income. Supporting and offsetting drivers:

Financial income ↑ 13.3bn

Administrative expenses ↑ 6.1bn

Tax ↑ 1.4bn

Gross profit ↓ 0.6bn

TTM

Net profit attributable to parent declined vs prior quarter, mainly due to higher administrative expenses. Supporting and offsetting drivers:

Financial income ↑ 1.6bn

Tax ↓ 0.0bn

Administrative expenses ↑ 1.5bn

Gross profit ↓ 0.3bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 7.1% = 250.8% × 0.03 × 1.03

2026Q1 7.1% = 299.6% × 0.02 × 1.02

ROE is broadly flat at 7.1% — the components are offsetting one another.

Net margin: 299.6% +48.8pp Asset turnover: 0.02x -0.00x Leverage: 1.02x -0.01x

Is the profit sustainable?

Accounting profit is positive but operating cash flow has not caught up — needs more time to confirm.

very positive positive stable watch under pressure

What is driving the margin?

Net margin expanded to 299.59%, rising 48.8pp. Core operating signals are improving as Gross margin rose 2.7pp are enough to offset pressure from SG&A / Revenue rose 32.3pp (with additional support from Net financial result / Revenue rose 90.9pp and Other profit / Revenue rose 0.1pp).

Most of the margin increase comes from non-core items — core operations have not kept pace, this is a margin expansion to watch carefully.

Profitability trend

Net Margin 299.59% +48.8pp

Gross Margin 44.73% +2.7pp

SG&A / Revenue 123.58% +32.3pp

Non-core / Revenue 454.39% +91.0pp

TTM YoY · 2025Q1 -> 2026Q1

Watchpoints

Financial result is supporting margin

Financial result accounts for 121.1% of PBT and lifted net margin by 91.0pp — separate the operating contribution from this source.

Is capital being used efficiently?

Capital efficiency should be read in industry context — ROIC may fluctuate with business specifics.

Is capital being deployed efficiently?

Track how much operating profit the business generates on invested capital.

Industry characteristics make ROIC cyclical — this is a reference signal and should be read with the business context.

CAPITAL EFFICIENCY TREND

ROIC — —

NOPAT Margin 299.31% +48.7pp

Capital Turnover — —

Average Invested Capital — —

Balance Sheet

ROIC above should be read with industry context — the balance sheet below adds perspective. Balance sheet is exceptionally sound — liabilities at 0.03x equity, with a net cash position equivalent to 0.00x equity.

Over the last 12 months, working capital absorbed 19.3bn of cash, mainly because of higher receivables and lower payables. Part of that drag was offset by lower inventories.

Working Capital Drivers

Receivables increased → lower CFO: −18.4bn

Inventories decreased → higher CFO: +2.2bn

Payables decreased → lower CFO: −3.1bn

Working Capital Efficiency

The inventory build-up noted above is reflected in a longer cash cycle. Cash conversion cycle lengthened by 48.0 days versus the same period last year. The main moves came from DIO rose 41.5 days, DSO rose 6.0 days, and DPO fell 0.6 days.

All 3 drivers are deteriorating — working capital is becoming more deeply tied up in the operating cycle.

Watchpoints

Cash conversion cycle remains stretched

CCC stands at 204.5 days, suggesting that working capital remains tied up for a relatively long operating cycle.

Receivables collection is slowing

DSO increased by +6.0 days, pointing to slower receivables turnover.

Working Capital Efficiency

Receivables 27.2 days +6.0 days

Inventory 299.6 days +41.5 days

Payables 122.3 days −0.6 days

Cash Conversion Cycle 204.5 days +48.0 days

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.

Debt maturity and the cash buffer remain the two key areas to monitor.

Some leverage signals are missing, so the current read should be treated as contextual.

Leverage and liquidity trend

Net Debt / Equity -0.00x —

Interest Coverage — —

Cash / Debt — —

Short-term Debt / Total Debt — —

CFO / NI -0.96x −0.56x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -38.8bn in 2025, against investing cash flow of 38.6bn.

Post-investment cash flow was negative +0.3bn. Financing cash flow was positive 0.0bn.

CFO / net income was -0.96x.

Track how much investment can be funded internally from operating cash flow.

Cash capex or FCF data is incomplete, so the cash-conversion view is only partial.

Cash Conversion

CFO TTM 79.2bn −48.4bn

Cash Capex — —

FCF TTM — —

Investment Takeaway

The business is under real pressure, but the current picture has not turned broadly adverse. A notable area has clearly weakened, making the near-term outlook hard to call bright; even so, other parts of the business are still holding up, with working capital is tied up too long in the operating cycle remaining the main constraint, with CCC extended to 204 days. The next watchpoint is the earnings mix, when non-core contribution is 121.0%. The main offsetting support comes from operating efficiency, with net margin improving 48.8 pp.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 299.59% after expanding 48.8pp versus the same period last year.

Watchpoint: the earnings mix still needs monitoring, with net financial result still accounting for 121.0% of PBT and CFO / net income currently at -0.96x.

Key risk: working capital remains tied up for too long, with cash cycle at 204.5 days.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	29.8	31.7	34.2	33.7	23.1
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	29.8	31.7	34.2	33.7	23.1
Cost of Goods Sold	17.1	18.6	20.2	19.9	0.0
Gross Profit	12.7	13.2	14.0	13.8	8.4
Financial Income	123.8	108.9	99.1	62.7	55.8
Financial Expenses	0.1	0.0	0.1	0.0	-0.0
Interest Expense	—	0.0	0.0	0.0	-0.0
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	6.0	6.1	5.9	6.3	-6.1
General and Administrative Expenses	26.4	21.9	21.2	20.2	-20.1
Operating Profit	104.0	94.0	86.0	49.9	38.0
Other Income	0.1	0.1	0.1	0.1	0.0
Other Expenses	—	0.0	0.0	0.0	0.0
Other Profit	0.1	0.1	0.1	0.1	0.1
Profit Before Tax	104.1	94.1	86.1	50.0	38.1
Current Income Tax Expense	21.0	19.0	17.3	10.0	-5.4
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	83.1	75.1	68.8	40.0	32.7
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	83.1	75.1	68.8	40.0	32.7
Earnings per Share	1,223.00	1,106.00	1,013.00	589.00	482.00
Diluted EPS	1,223.00	1,106.00	1,013.00	589.00	482.17

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	188.8	138.0	1,033.7	953.7	903.7
I. Cash and cash equivalents	2.5	2.8	1.9	13.4	1.0
1. Cash	2.5	2.8	1.9	4.9	0.0
2. Cash equivalents	—	0.0	0.0	8.5	0.0
II. Short-term financial investments	78.5	111.5	138.5	131.5	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	78.5	111.5	138.5	131.5	0.0
III. Short-term receivables	97.6	14.4	882.7	801.4	747.3
1. Short-term trade accounts receivable	3.0	1.7	1.7	1.9	0.0
2. Short-term prepayments to suppliers	0.0	0.0	0.0	0.1	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	10.0	827.0	770.0	0.0
6. Other short-term receivables	94.6	2.7	54.0	29.4	0.0
7. Provision for short-term doubtful debts (*)	—	0.0	0.0	-0.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	9.8	9.3	10.7	7.4	6.8
1. Inventories	12.5	11.3	12.4	9.1	0.0
2. Provision for decline in value of inventories	-2.7	-2.0	-1.7	-1.7	0.0
V. Other short-term assets	0.3	0.0	0.0	0.0	0.0
1. Short-term prepayments	—	0.0	0.0	0.0	0.0
2. Value added tax to be reclaimed	0.3	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	—	0.0	0.0	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,028.0	992.7	22.1	23.0	24.1
I. Long-term receivables	1,008.1	971.7	0.1	0.1	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.1
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	1,008.0	927.0	0.0	0.0	0.0
6. Other long-term receivables	0.1	44.7	0.1	0.1	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	2.9	3.2	3.6	3.9	5.5
1. Tangible fixed assets	2.9	3.2	3.6	3.9	5.5
- Cost	18.2	18.2	18.3	18.3	0.0
- Accumulated depreciation	-15.3	-15.0	-14.7	-14.4	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.2	0.2	0.2	0.0
- Accumulated depreciation	—	-0.2	-0.2	-0.2	0.0
III. Investment properties	6.3	7.0	7.6	8.3	7.8
- Cost	33.5	33.5	33.5	33.5	0.0
- Accumulated depreciation	-27.2	-26.5	-25.8	-25.1	0.0
IV. Long-term assets in progress	6.0	6.0	6.0	6.0	6.0
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	6.0	6.0	6.0	6.0	0.0
V. Long-term financial investments	4.3	4.3	4.3	4.3	4.3
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	4.3	4.3	4.3	4.3	0.0
3. Investments in other entities	—	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	0.4	0.4	0.5	0.3	0.0
1. Long-term prepayments	0.4	0.4	0.5	0.3	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	0.4
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,216.8	1,130.7	1,055.8	976.7	927.7
A. LIABILITIES (300=210+330)	31.4	28.4	28.6	18.3	9.3
I. Short -term liabilities	31.0	27.8	28.3	17.8	8.4
1. Short-term trade accounts payable	6.7	5.8	7.8	6.0	4.4
2. Short-term advances from customers	0.1	0.0	0.0	0.0	0.0
3. Taxes and other payables to state authorities	21.0	19.3	17.6	8.7	0.0
4. Payable to employees	0.7	0.8	0.7	1.2	0.0
5. Short-term acrrued expenses	0.2	0.3	0.3	0.1	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	1.4	1.1	1.1	1.0	0.9
9. Other short-term payables	0.8	0.5	0.8	0.7	0.0
10. Short-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	—	0.0	0.0	0.0	0.0
13. Price stabilization fund	—	0.0	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0	0.0
II. Long-term liabilities	0.5	0.6	0.3	0.5	0.9
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	0.5	0.6	0.3	0.5	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,185.4	1,102.3	1,027.2	958.4	918.4
I. Owner's equity	1,185.4	1,102.3	1,027.2	958.4	0.0
1. Owner's capital	679.1	679.1	679.1	679.1	918.4
- Common stock with voting right	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	71.8	71.8	71.8	71.8	71.8
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	—	0.0	0.0	0.0	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	434.6	351.6	276.5	207.6	167.6
- Accumulated retained earning at the end of the previous period	351.6	276.5	207.6	167.6	134.9
- Undistributed earnings in this period	83.1	75.1	68.8	40.0	32.7
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,216.8	1,130.7	1,055.8	976.7	927.7

Item	2025	2024	2023	2022	2021
Profit Before Tax	104.1	94.1	86.1	50.0	38.1
Depreciation of Fixed Assets and Investment Property	1.0	1.0	1.0	1.0	1.5
Provision (Increase)/Reversal	0.7	0.3	0.0	0.4	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-123.8	-108.9	-99.1	-62.7	0.0
Interest Expense	—	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	-18.1	-13.5	-11.9	-11.3	-15.9
Increase/(Decrease) in Receivables	-1.6	0.0	0.6	0.2	0.0
Increase/(Decrease) in Inventory	-1.2	1.1	-3.3	-1.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	1.0	-1.9	1.7	2.4	0.0
Increase/(Decrease) in Prepaid Expenses	0.0	0.0	-0.1	0.1	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	—	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-19.0	-17.3	-8.7	-3.5	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Operating Activities	-38.8	-31.6	-21.7	-13.1	-22.4
Payments for Fixed Assets and Other Long-term Assets	—	0.0	0.0	0.0	-217.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.0	0.0	0.0	232.0
Loans and Purchases of Debt Instruments	-89.5	-267.0	-749.5	-562.9	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	51.5	184.0	685.5	359.9	0.0
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	76.6	115.5	74.2	228.4	0.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	38.6	32.5	10.2	25.4	21.7
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	—	0.0	0.0	0.0	0.0
Repayment of Borrowings	—	0.0	0.0	0.0	0.0
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	—	0.0	0.0	0.0	0.0
Other Financing Receipts	—	0.0	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	—	0.0	0.0	0.0	0.0
Net Cash Flow During the Period	-0.3	0.9	-11.5	12.4	0.4
Cash and Cash Equivalents at Beginning of Period	2.8	1.9	13.4	1.0	1.7
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	2.5	2.8	1.9	13.4	1.0

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	4.3	9.1	6.8	7.5	6.4	8.6	8.4	7.4	7.3	9.0	8.4	8.9
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	4.3	9.1	6.8	7.5	6.4	8.6	8.4	7.4	7.3	9.0	8.4	8.9
Cost of Goods Sold	1.5	6.3	3.4	4.1	3.3	5.6	4.9	4.2	4.0	5.7	4.8	5.3
Gross Profit	2.8	2.8	3.4	3.4	3.1	3.0	3.6	3.3	3.3	3.3	3.6	3.6
Financial Income	30.7	31.8	31.6	31.4	29.1	29.9	27.7	25.4	25.8	26.7	25.6	23.7
Financial Expenses	—	0.0	—	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	1.3	1.6	1.3	1.7	1.3	1.9	1.3	1.6	1.3	1.6	1.4	1.6
General and Administrative Expenses	6.5	9.6	5.8	6.2	5.0	5.8	5.1	6.1	4.9	5.6	5.4	5.5
Operating Profit	25.6	23.3	27.8	26.8	25.9	25.2	24.9	20.9	22.9	22.7	22.5	20.2
Other Income	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1
Other Expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Profit	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1
Profit Before Tax	25.6	23.4	27.9	26.8	25.9	25.2	24.9	20.9	23.0	22.7	22.5	20.3
Current Income Tax Expense	5.2	4.7	5.6	5.5	5.2	5.0	5.0	4.3	4.6	4.5	4.6	4.1
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	20.5	18.7	22.3	21.3	20.7	20.2	19.9	16.6	18.4	18.2	17.9	16.2
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	20.5	18.7	22.3	21.3	20.7	20.2	19.9	16.6	18.4	18.2	17.9	16.2
Earnings per Share	302.00	275.00	328.00	314.00	305.00	298.00	293.00	245.00	270.00	268.00	264.00	239.00
Diluted EPS	302.00	275.00	328.00	314.00	305.00	1,106.00	293.00	245.00	270.00	268.00	264.00	239.00

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	193.0	188.6	170.1	118.6	139.4	347.2	345.1	1,057.7	1,055.8	1,033.7	1,012.7	991.4
I. Cash and cash equivalents	4.9	2.5	15.9	3.4	2.8	2.8	3.3	1.6	1.7	1.9	3.3	5.7
1. Cash	0.9	2.5	5.4	3.4	2.8	2.8	3.3	1.6	1.7	1.9	3.3	1.7
2. Cash equivalents	4.0	—	10.5	—	—	0.0	0.0	0.0	0.0	0.0	0.0	4.0
II. Short-term financial investments	176.5	78.5	78.5	89.0	111.5	111.5	115.5	115.5	137.5	138.5	139.5	131.5
1. Available for sale securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	176.5	78.5	78.5	89.0	111.5	111.5	115.5	115.5	137.5	138.5	139.5	131.5
III. Short-term receivables	2.8	97.6	65.8	15.1	13.4	223.5	216.9	930.7	906.6	882.7	858.6	844.9
1. Short-term trade accounts receivable	2.3	3.0	2.4	2.8	1.8	1.7	2.1	1.6	1.8	1.7	1.6	2.1
2. Short-term prepayments to suppliers	0.0	0.0	0.0	0.0	0.2	0.0	0.1	0.0	0.0	0.0	0.1	0.1
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	—	—	10.0	10.0	210.0	210.0	827.0	827.0	827.0	827.0	770.0
6. Other short-term receivables	0.5	94.6	63.4	2.3	1.4	11.9	4.8	102.1	77.8	54.0	30.0	72.7
7. Provision for short-term doubtful debts (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	-0.0	-0.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	8.7	9.8	9.9	11.1	11.6	9.3	9.4	9.9	10.0	10.7	11.2	9.3
1. Inventories	11.4	12.5	11.9	13.1	13.6	11.3	11.1	11.6	11.7	12.4	12.9	11.0
2. Provision for decline in value of inventories	-2.7	-2.7	-2.0	-2.0	-2.0	-2.0	-1.7	-1.7	-1.7	-1.7	-1.7	-1.7
V. Other short-term assets	0.0	0.1	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Short-term prepayments	0.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Value added tax to be reclaimed	—	0.1	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Taxes and other receivables from state authorities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,027.7	1,028.0	1,028.3	1,050.1	1,020.4	783.6	761.8	21.6	21.9	22.1	22.3	22.5
I. Long-term receivables	—	1,008.1	1,008.1	1,029.6	999.8	762.6	740.6	0.1	0.1	0.1	0.1	0.1
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	1,008.0	1,008.0	998.0	998.0	727.0	727.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	0.1	0.1	31.6	1.8	35.6	13.6	0.1	0.1	0.1	0.1	0.1
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	2.8	2.9	3.0	3.1	3.2	3.2	3.3	3.4	3.5	3.6	3.7	3.7
1. Tangible fixed assets	2.8	2.9	3.0	3.1	3.2	3.2	3.3	3.4	3.5	3.6	3.7	3.7
- Cost	18.2	—	—	—	—	18.2	18.3	18.3	18.3	18.3	18.3	18.3
- Accumulated depreciation	-15.4	—	—	—	—	-15.0	-15.0	-14.9	-14.8	-14.7	-14.7	-14.6
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	0.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-0.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	6.1	6.3	6.4	6.6	6.8	7.0	7.1	7.3	7.5	7.6	7.8	8.0
- Cost	33.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-27.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0	6.0
V. Long-term financial investments	1,012.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3	4.3
3. Investments in other entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	1,008.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.5	0.5	0.3	0.3
1. Long-term prepayments	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.5	0.5	0.3	0.3
2. Deferred income tax assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	1,220.7	1,216.7	1,198.4	1,168.6	1,159.9	1,130.7	1,106.9	1,079.3	1,077.7	1,055.8	1,034.9	1,013.9
A. LIABILITIES (300=210+330)	14.8	31.4	31.8	24.3	36.9	28.4	24.8	17.1	32.1	28.6	25.9	22.8
I. Short -term liabilities	14.5	31.0	31.0	23.5	36.2	27.8	24.4	16.8	31.6	28.3	25.7	22.3
1. Short-term trade accounts payable	3.1	6.7	4.6	5.0	7.1	5.8	5.5	5.0	5.0	7.8	7.6	6.2
2. Short-term advances from customers	0.3	0.1	0.0	0.1	0.1	0.0	0.2	0.3	0.0	0.0	0.1	0.1
3. Taxes and other payables to state authorities	5.2	21.0	16.9	11.2	24.6	19.3	14.4	9.3	22.3	17.6	13.7	14.3
4. Payable to employees	—	0.7	—	—	—	0.8	0.0	0.0	0.0	0.7	0.0	0.0
5. Short-term acrrued expenses	3.4	0.2	7.8	5.4	2.9	0.3	2.6	0.2	2.6	0.3	2.5	0.2
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	1.5	1.4	1.3	1.4	1.1	1.1	1.0	1.1	1.1	1.1	1.0	1.0
9. Other short-term payables	1.0	0.8	0.4	0.5	0.5	0.5	0.7	0.8	0.6	0.8	0.8	0.6
10. Short-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	0.3	0.5	0.8	0.8	0.6	0.6	0.4	0.3	0.5	0.3	0.2	0.5
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	0.3	0.5	0.8	0.8	0.6	0.6	0.4	0.3	0.5	0.3	0.2	0.5
8. Long-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,205.9	1,185.2	1,166.6	1,144.3	1,123.0	1,102.3	1,082.1	1,062.2	1,045.6	1,027.2	1,009.0	991.1
I. Owner's equity	1,205.9	1,185.2	1,166.6	1,144.3	1,123.0	1,102.3	1,082.1	1,062.2	1,045.6	1,027.2	1,009.0	991.1
1. Owner's capital	679.1	679.1	679.1	679.1	679.1	679.1	679.1	679.1	679.1	679.1	679.1	679.1
- Common stock with voting right	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00	679,099,600,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	71.8	71.8	71.8	71.8	71.8	71.8	71.8	71.8	71.8	71.8	71.8	71.8
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00	-160,500,000.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	455.1	434.5	415.8	393.5	372.2	351.6	331.3	311.4	294.8	276.5	258.3	240.3
- Accumulated retained earning at the end of the previous period	434.6	351.6	351.6	351.6	351.6	276.5	276.5	276.5	276.5	207.6	207.6	207.6
- Undistributed earnings in this period	20.5	82.9	64.3	42.0	20.7	75.1	54.9	35.0	18.4	68.8	50.6	32.7
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	1,220.7	1,216.7	1,198.4	1,168.6	1,159.9	1,130.7	1,106.9	1,079.3	1,077.7	1,055.8	1,034.9	1,013.9

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Profit Before Tax	25.6	23.5	27.9	26.8	25.9	25.2	24.9	20.9	23.0	22.7	22.5	20.3
Depreciation of Fixed Assets and Investment Property	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
Provision (Increase)/Reversal	—	0.7	—	—	—	0.3	0.0	0.0	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.0	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-30.7	-31.8	-31.6	-31.4	-29.1	-29.9	-27.7	-25.4	-25.8	-26.7	-25.6	-23.7
Interest Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	-4.8	-7.3	-3.4	-4.3	-3.0	-4.1	-2.5	-4.2	-2.6	-3.7	-2.9	-3.2
Increase/(Decrease) in Receivables	-17.2	-0.8	0.4	-0.8	-0.4	0.6	-0.6	0.2	-0.1	0.3	0.6	-0.2
Increase/(Decrease) in Inventory	1.1	-0.6	1.2	0.6	-2.3	-0.2	0.5	0.1	0.7	0.5	-1.9	0.6
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-0.8	-5.1	1.9	0.9	3.3	-1.4	2.7	-2.1	-1.1	-1.8	4.3	-4.0
Increase/(Decrease) in Prepaid Expenses	-0.0	-0.0	0.1	-0.0	0.0	-0.1	0.0	0.1	-0.0	-0.1	-0.0	0.1
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-21.0	-0.0	-0.0	-19.0	—	0.0	0.0	-17.3	-0.0	0.0	-5.8	-2.9
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Operating Activities	-42.7	-13.9	0.1	-22.7	-2.4	-5.2	0.1	-23.3	-3.2	-4.8	-5.7	-9.6
Payments for Fixed Assets and Other Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	—	0.0	-16.5	-2.0	-71.0	-13.0	-210.0	-17.0	-27.0	-39.0	-687.0	-4.5
Receipts from Loan Repayments and Sale of Debt Instruments	43.5	0.0	27.0	24.5	—	17.0	100.0	39.0	28.0	40.0	622.0	4.5
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	1.6	0.5	2.0	0.7	73.4	0.7	111.6	1.2	2.0	2.4	68.3	1.6
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	45.1	0.5	12.5	23.2	2.4	4.7	1.6	23.2	3.0	3.4	3.3	1.6
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Borrowings	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow During the Period	2.4	-13.4	12.5	0.6	0.0	-0.5	1.7	-0.1	-0.2	-1.5	-2.4	-8.0
Cash and Cash Equivalents at Beginning of Period	2.5	15.9	3.4	2.8	2.8	1.9	1.9	1.9	1.9	13.4	13.4	13.4
FX Difference from Revaluation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	4.9	2.5	15.9	3.4	2.8	2.8	3.3	1.6	1.7	1.9	3.3	5.7

Explore Other Stocks In The Same Sector

EID, SED, LBE, EBS, QST, ADC, STC, DAD, NBE, BED, DAE, SMN, HEV, ECI, SGD

Need support? If you need support with content lookup or want to provide feedback about content on the website, please contact us below.

VNB

What Is Changing

Drivers of VNB's profit

Financial Highlights

Is the profit sustainable?

What is driving the margin? ▲▲

Is capital being used efficiently?

Is capital being deployed efficiently? ●

Balance Sheet ▼

Working Capital Efficiency ▼▼

Is financial risk significant?

Leverage & Liquidity ▲

Cash Flow ●

Investment Takeaway

Statement Data

What is driving the margin?

Is capital being deployed efficiently?

Balance Sheet

Working Capital Efficiency

Leverage & Liquidity

Cash Flow