Airports Corp Of Viet Nam

Airports Corp Of Viet Nam maintains a conservative capital structure with a debt-to-equity ratio of 0.14 and a current ratio of 2.19, indicating strong short-term liquidity coverage. The balance sheet shows total assets of 91.9 trillion VND against total liabilities of 22.1 trillion VND, resulting in total equity of 69.8 trillion VND. Long-term debt stands at 9.7 trillion VND, while cash and equivalents are limited to 342 billion VND. Despite positive operating cash flow of 16.8 trillion VND, free cash flow is negative at -14.1 trillion VND due to significant capital expenditures of 29.6 trillion VND, reflecting heavy investment in infrastructure expansion.

The company demonstrates strong profitability metrics with a return on equity of 16.99% and a return on assets of 12.91%. Operating income of 14.8 trillion VND represents a high margin relative to revenue of 25.9 trillion VND, suggesting efficient core operations. Net income of 12.5 trillion VND indicates effective cost control and tax management. However, the absence of cohort median data prevents direct comparison with industry peers, limiting the ability to benchmark these returns against sector norms.

Revenue concentration and geographic exposure details are not provided in the available data, preventing analysis of segment mix or regional dependency. The company’s operations are presumably concentrated in Vietnam’s airport network, but specific breakdowns by segment or geography are absent from the current dataset.

Growth trajectory analysis is constrained by the lack of historical period data. Without five-year annual or eight-quarter quarterly revenue and net income figures, it is not possible to assess trends in top-line growth or earnings stability. The current financial snapshot provides a single-period view, insufficient for evaluating momentum or cyclicality.

Risk assessment indicates medium liquidity risk and low dilution risk. A key flag notes that net cash is negative after subtracting total debt, highlighting the company’s reliance on debt financing for its capital-intensive operations. The negative free cash flow further underscores the pressure on internal funding sources, necessitating external financing or debt issuance to sustain investment levels.

Recent events include analyst estimates with a mean price target of 52,325 VND and a median of 50,400 VND, ranging from a low of 43,500 VND to a high of 65,000 VND. The mean recommendation is 2.33, with one strong buy, zero buys, and two holds, suggesting cautious optimism among analysts. No specific filing, news, or transcript observations are available to provide additional context on recent developments.

Revenue grew at a 52.8% CAGR over four years, demonstrating strong top-line expansion momentum.

Net income surged with a 99.3% CAGR, significantly outpacing revenue growth and indicating operating leverage.

Analysts project 24.5% upside to a mean price target of 54,667 VND, signaling bullish sentiment.

Capex to revenue ratio of -1.27 places the company in the bottom quartile of its cohort.

Net income growth slowed to 6.8% year-over-year, suggesting diminishing returns on recent expansion.

The company faces medium liquidity risk, which could constrain financial flexibility during downturns.

Operating income growth decelerated to just 2.8% year-over-year, indicating slowing operational momentum.

Revenue VND 25.90T, +14,6% YoY; Operating income +2,8% YoY.

• ▍Revenue VND 25.90T, +14,6% YoY
• ▍Operating income +2,8% YoY
• ▍Net income +6,8% YoY
• ▍Free cash flow −2 130,7% YoY
• ▍Net margin 48.1%

Revenue VND 22.60T, +13,0% YoY; Operating income +37,9% YoY.

• ▍Revenue VND 22.60T, +13,0% YoY
• ▍Operating income +37,9% YoY
• ▍Net income +37,9% YoY
• ▍Free cash flow +133,8% YoY
• ▍Net margin 51.6%

Revenue VND 20.00T, +44,9% YoY; Operating income +18,1% YoY.

• ▍Revenue VND 20.00T, +44,9% YoY
• ▍Operating income +18,1% YoY
• ▍Net income +17,0% YoY
• ▍Free cash flow −145,7% YoY
• ▍Net margin 42.3%

Revenue VND 13.80T, +190,5% YoY; Operating income +803,2% YoY.

• ▍Revenue VND 13.80T, +190,5% YoY
• ▍Operating income +803,2% YoY
• ▍Net income +815,7% YoY
• ▍Free cash flow +170,4% YoY
• ▍Net margin 52.4%

Revenue VND 4.75T; Operating income VND 981.04B.

• ▍Revenue VND 4.75T
• ▍Operating income VND 981.04B
• ▍Net margin 16.6%