Vietnam Technological And Commercial Joint Stock Bank

Vietnam Technological And Commercial Joint Stock Bank maintains a capital structure with a debt-to-equity ratio of 1.51, indicating a moderate reliance on debt financing. The bank's liquidity position is assessed as medium, with free cash flow of 12,968,360,000,000 VND and operating cash flow of 19,028,209,000,000 VND, but net cash is negative after subtracting total debt. This suggests that the bank may need to manage its debt obligations carefully to maintain liquidity.

In terms of profitability, the bank's return on equity (ROE) is 4.52%, and its return on assets (ROA) is 0.68%. These figures are below the typical thresholds for high-performing banks, indicating that the bank is generating relatively modest returns on its equity and assets. The bank's net income of 6,193,361,000,000 VND and revenue of 9,477,926,000,000 VND suggest a profitable operation, but the ROE and ROA metrics highlight the need for improved efficiency and asset utilization.

The bank's revenue is primarily concentrated in its domestic operations, with no significant international exposure disclosed. This concentration may limit its growth potential and increase its vulnerability to local economic conditions. The bank's segments are not explicitly detailed in the available data, but its primary business is likely centered on retail and corporate banking services.

The bank's growth trajectory is expected to be moderate, with no specific numeric deltas provided for the current or next fiscal year. However, the bank's operating cash flow and free cash flow suggest a stable cash-generating ability, which could support future growth initiatives. The bank's capital expenditure of -280,257,000,000 VND indicates a reduction in capital spending, which may be a strategic move to preserve cash or a sign of reduced investment in new projects.

The bank's risk assessment highlights a medium liquidity risk and a low dilution risk. The key flag of negative net cash after subtracting total debt suggests that the bank may need to manage its liquidity carefully to avoid potential shortfalls. The dilution risk is assessed as low, indicating that the bank is not expected to issue a significant number of new shares in the near term, which is a positive sign for existing shareholders.

Recent events and filings do not provide specific details on the bank's recent activities or strategic initiatives. However, the bank's financial performance and risk profile suggest that it is maintaining a stable position in the market. The bank's mean price target of 42,519.00 VND and median price target of 43,487.00 VND indicate a generally positive outlook from analysts, with a mean recommendation of 1.62, which is closer to a strong buy rating.

Analysts project 30.6% upside to a mean price target of 42,519 VND, signaling strong market confidence in future performance.

Net income is forecast to grow 17.5% year-over-year to 25.3 trillion VND, demonstrating robust profitability expansion.

Total assets expanded 21.8% year-over-year to 1.19 quadrillion VND, indicating significant balance sheet growth and scale.

Free cash flow is expected to surge 31.9% to 20.1 trillion VND, highlighting strong cash generation capabilities.

Return on equity of 4.5% falls below the 6.1% peer median, indicating inferior capital efficiency compared to competitors.

Debt-to-equity ratio of 1.51 sits in the bottom quartile, signaling significantly higher leverage risk than peers.

Long-term debt increased to 200.5 trillion VND in FY2025, raising concerns about rising interest expense burdens.

Return on assets of 0.68% is low, suggesting limited ability to generate profit from total asset base.

Medium liquidity risk flags potential challenges in meeting short-term obligations without significant asset liquidation.

Revenue VND 9.52T, +14,7% YoY; Net income +12,2% YoY.

• ▍Revenue VND 9.52T, +14,7% YoY
• ▍Net income +12,2% YoY
• ▍Free cash flow +15,3% YoY
• ▍Net margin 70.1%

Revenue VND 10.79T, +25,4% YoY; Net income +98,0% YoY.

• ▍Revenue VND 10.79T, +25,4% YoY
• ▍Net income +98,0% YoY
• ▍Free cash flow −83,9% YoY
• ▍Net margin 61.9%

Revenue VND 9.92T, +11,2% YoY; Net income +11,9% YoY.

• ▍Revenue VND 9.92T, +11,2% YoY
• ▍Net income +11,9% YoY
• ▍Free cash flow +17,6% YoY
• ▍Net margin 64.7%

Revenue VND 9.14T, −3,6% YoY; Net income +0,9% YoY.

• ▍Revenue VND 9.14T, −3,6% YoY
• ▍Net income +0,9% YoY
• ▍Free cash flow +403,9% YoY
• ▍Net margin 68.4%

Revenue VND 8.31T; Net margin 71.6%.

• ▍Revenue VND 8.31T
• ▍Net margin 71.6%

Revenue VND 8.60T; Net margin 39.2%.

• ▍Revenue VND 8.60T
• ▍Net margin 39.2%

Revenue VND 8.93T; Net margin 64.3%.

• ▍Revenue VND 8.93T
• ▍Net margin 64.3%

Revenue VND 9.48T; Net margin 65.3%.

• ▍Revenue VND 9.48T
• ▍Net margin 65.3%

Revenue VND 38.16T, +7,5% YoY; Net income +17,5% YoY.

• ▍Revenue VND 38.16T, +7,5% YoY
• ▍Net income +17,5% YoY
• ▍Free cash flow +31,9% YoY
• ▍Net margin 66.3%

Revenue VND 35.51T, +28,2% YoY; Net income +19,6% YoY.

• ▍Revenue VND 35.51T, +28,2% YoY
• ▍Net income +19,6% YoY
• ▍Free cash flow −16,0% YoY
• ▍Net margin 60.6%

Revenue VND 27.69T, −8,6% YoY; Net income −10,7% YoY.

• ▍Revenue VND 27.69T, −8,6% YoY
• ▍Net income −10,7% YoY
• ▍Free cash flow −9,1% YoY
• ▍Net margin 65.0%

Revenue VND 30.29T, +13,4% YoY; Net income +11,6% YoY.

• ▍Revenue VND 30.29T, +13,4% YoY
• ▍Net income +11,6% YoY
• ▍Free cash flow +10,7% YoY
• ▍Net margin 66.5%