Thong Nhat JSC

Thong Nhat JSC maintains a strong liquidity position, with a current ratio of 7.43, indicating a significant buffer of current assets over current liabilities. The company's cash and equivalents amount to VND 22.8 billion, contributing to its robust liquidity profile. The absence of long-term debt further enhances its financial flexibility, as reflected in a debt-to-equity ratio of 0.

In terms of profitability, the company's return on equity (ROE) is 4.02%, and its return on assets (ROA) is 1.22%. These figures suggest that the company is generating modest returns relative to its equity and total assets. While the ROE is in line with the industry's typical performance, the ROA is relatively low, indicating that the company may not be efficiently utilizing its assets to generate profit.

The company's revenue is concentrated in a single business segment, as no specific segments are disclosed. Geographically, the company's exposure is primarily within Vietnam, with no significant international operations reported. This concentration may pose a risk if the domestic real estate market experiences a downturn.

Thong Nhat JSC's growth trajectory is supported by its operating income of VND 11.06 billion and net income of VND 8.83 billion. The company's capital expenditures were negative at VND -6.24 billion, suggesting a reduction in investment in new projects or assets. This could indicate a strategic shift or a response to market conditions.

The company's risk assessment indicates low liquidity and dilution risks. There are no immediate filing-based liquidity or dilution flags, and the absence of long-term debt reduces the likelihood of financial distress. The dilution potential is also low, with no significant changes in shares outstanding between basic and diluted figures.

Recent events and filings do not indicate any material changes in the company's operations or financial position. The company's operating cash flow of VND 22.41 billion and free cash flow of VND 3.72 billion suggest a healthy cash generation capability, supporting its current operations and potential for future growth.

Operating and net margins significantly exceed the real estate cohort median, indicating superior profitability relative to peers.

The company maintains zero long-term debt, providing a strong balance sheet with no leverage risk compared to peers.

Revenue grew 51% year-over-year in the latest period, demonstrating strong top-line momentum despite historical volatility.

Free cash flow turned positive in the latest period, reversing a multi-year trend of negative cash generation.

Return on equity exceeds the cohort median, suggesting efficient use of shareholder capital despite low absolute levels.

Revenue and net income declined over the four-year CAGR period, indicating a long-term downward trend in business scale.

Return on assets and return on invested capital are extremely low, signaling inefficient capital deployment relative to book value.

Capital expenditure as a percentage of revenue is in the bottom quartile, potentially limiting future growth capacity.

Free cash flow was negative for four of the last five periods, highlighting inconsistent cash generation capabilities.

The latest revenue figure remains significantly below the peak recorded in FY-4, suggesting the business has not fully recovered.