Song Da No 11 JSC

Song Da No 11 JSC maintains a debt-to-equity ratio of 1.84, indicating a capital structure that is significantly leveraged. The company's liquidity position is assessed as medium, with a current ratio of 1.18, suggesting it has sufficient short-term assets to cover its short-term liabilities, but with limited buffer. Free cash flow stands at 205.54 billion VND, which is positive and may support ongoing operations and potential reinvestment. However, the company's operating cash flow is negative at -855.10 billion VND, indicating that its core operations are not currently generating positive cash flow. Profitability metrics show a return on equity (ROE) of 12.6%, which is relatively strong, and a return on assets (ROA) of 3.4%, which is in line with industry norms. The company's operating income of 182.03 billion VND and net income of 140.53 billion VND reflect a healthy margin, although the gross profit of 367.49 billion VND suggests that cost management is a key factor in maintaining profitability. The company's revenue is concentrated in construction and engineering services, with a significant portion derived from domestic operations in Vietnam. There is no indication of substantial international revenue, and the company's exposure to geographic risk is primarily within Vietnam. The company's recent acquisition of Song Da 11 - Thang Long Joint Stock Co has expanded its operational footprint and may contribute to future revenue growth. Looking ahead, the company's revenue is expected to grow, supported by ongoing infrastructure projects and the integration of its newly acquired subsidiary. The company's capital expenditure of -7.25 billion VND indicates a modest investment in new projects, which may be a strategic move to maintain financial flexibility. The company's free cash flow is expected to remain positive, which could support dividend payments or further investments. The company's risk assessment highlights a medium liquidity risk, primarily due to its negative net cash position after subtracting total debt. The risk of dilution is assessed as low, with no significant dilution potential identified in the basic shares outstanding. The company's financial leverage is a key risk factor, and any increase in interest rates or debt servicing costs could impact its profitability. Recent events include the completion of the acquisition of Song Da 11 - Thang Long Joint Stock Co, which has been integrated into the company's operations. The company has also reported a last actual EPS of 1,495.81 VND, which is a positive indicator of its earnings performance. The company's financial statements and disclosures provide a transparent view of its operations and financial health.