Vinaship JSC

Vinaship JSC maintains a strong liquidity position, as evidenced by a current ratio of 4.92, indicating that the company holds nearly five times more current assets than current liabilities. However, the company has no long-term debt and no cash and equivalents, suggesting that liquidity is derived from other current assets such as accounts receivable or inventory.

Profitability metrics for Vinaship JSC are weak, with a return on equity (ROE) of 0.05% and a return on assets (ROA) of 0.05%. These figures are significantly below the typical performance benchmarks for the Marine Freight & Logistics industry, which often require higher returns to justify capital deployment and operational risk.

The company's revenue is concentrated in a single business segment, as disclosed in its latest financial report, with no material geographic diversification reported. This lack of diversification increases exposure to regional economic fluctuations and regulatory changes that could impact its primary market.

Vinaship JSC's growth trajectory appears to be constrained, with no significant revenue growth reported in the latest period. The company's capital expenditures were substantial at VND 23.15 billion, yet free cash flow was negative at VND -1.45 billion, indicating that the company is investing heavily without generating sufficient cash to cover these investments.

Risk factors for Vinaship JSC are currently low, with no immediate liquidity or dilution flags detected. The company has no long-term debt and no dilution risk from recent equity issuances or shelf registrations. However, the absence of cash and equivalents may pose a risk if short-term obligations increase unexpectedly.

No recent events, such as filings or transcripts, were identified in the latest data that would indicate material changes in the company's operations or strategic direction. The company appears to be operating within a stable but low-growth environment.

Vinaship demonstrates best-in-class cash conversion at 47.81%, significantly outperforming the 1.65% median in the Marine Freight & Logistics cohort.

The company maintains a zero debt-to-equity ratio, placing it in the top quartile compared to the 0.32 median leverage of its peers.

Vinaship exhibits low risk levels across dilution, liquidity, and credit metrics, suggesting a stable financial foundation despite operational challenges.

Free cash flow improved by 2.2% year-over-year, indicating a slight stabilization in cash generation despite negative operating income.

The company generated positive net income of 43.3 billion VND in the latest period, maintaining profitability despite declining trends.

Return on equity is merely 0.05%, falling into the bottom quartile against the 4.51% median return generated by comparable companies.

The four-year compound annual growth rate for net income is -29.8%, indicating a long-term trend of shrinking earnings.

Revenue VND 818.14B; Operating income VND 157.98B.

• ▍Revenue VND 818.14B
• ▍Operating income VND 157.98B
• ▍Net margin 21.8%