Tan Bien Rubber JSC

Tan Bien Rubber JSC maintains a strong liquidity position, with a current ratio of 3.51, indicating the company can cover its short-term obligations more than three times over. The company's liquidity is supported by VND 81.64 billion in cash and equivalents, although this is partially offset by VND 209.51 billion in long-term debt. The net cash position is negative after subtracting total debt, which introduces some liquidity risk.

Profitability metrics show a return on equity (ROE) of 6.37% and a return on assets (ROA) of 3.79%, both of which are below the industry median for Tires & Rubber Products. The company's operating margin is 26.04% (calculated from operating income of VND 74.13 billion on revenue of VND 284.71 billion), which is strong but not exceptional within the industry.

The company operates as a single business segment, with all revenue derived from rubber and tire products for the automotive industry. There is no geographic diversification disclosed, and the company is entirely focused on the domestic market. This concentration increases exposure to local economic and regulatory conditions.

Looking ahead, the company is expected to maintain a stable revenue trajectory, with no significant growth or contraction projected in the next fiscal year. Capital expenditures are modest, at VND 6.1 billion, and the company is generating strong free cash flow of VND 159.94 billion, which supports reinvestment or shareholder returns.

The company faces moderate liquidity risk due to its net cash position being negative after subtracting long-term debt. However, the dilution risk is low, as the number of shares outstanding has not changed between basic and diluted shares, and there is no indication of recent or planned equity issuance.

Recent filings and transcripts do not indicate any material events or strategic shifts. The company continues to operate within its core business model, with no disclosed plans for expansion or diversification.

Net income grew 14.3% year-over-year to 420 billion VND, demonstrating strong profitability momentum.

Free cash flow surged 37.1% to 436 billion VND, indicating robust cash generation capabilities.

Revenue CAGR of 8.4% over four years shows consistent top-line growth trajectory.

Cash conversion ratio of 0.51 falls below the cohort median of 1.14.

Liquidity risk is rated medium, suggesting potential challenges in meeting short-term obligations.

Return on assets of 3.8% indicates modest efficiency in utilizing total assets for profit.

Current ratio of 1.11 suggests limited buffer for covering current liabilities with current assets.