Vietnam Sun Corp

Vietnam Sun Corp maintains a strong liquidity position with a current ratio of 3.78, indicating the company can cover its short-term liabilities more than three times over. The company's cash and equivalents amount to 153,207,260,810 VND, which is partially offset by long-term debt of 265,422,511,750 VND, resulting in a net cash position that is negative after subtracting total debt. The debt-to-equity ratio of 0.22 suggests a relatively conservative capital structure with limited leverage.

Profitability metrics show a return on equity (ROE) of 1.85% and a return on assets (ROA) of 1.35%, both of which are below the industry median for passenger transportation firms. The company's net income of 22,017,812,640 VND is supported by an operating income of 10,904,395,660 VND, but the gross profit margin of 19.63% (calculated from gross profit of 54,697,940,570 VND on revenue of 278,618,226,140 VND) indicates moderate efficiency in converting revenue to profit.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases exposure to regional economic fluctuations and regulatory changes in Vietnam. The company's capital expenditures of -15,203,739,700 VND suggest a reduction in investment in physical assets, which may signal a shift in strategic focus or a response to capital constraints.

Looking ahead, Vietnam Sun Corp is projected to maintain a stable revenue trajectory, with the most recent actual revenue reported at 2,937,066,985,950 VND. While the company's free cash flow of 63,145,182,910 VND supports operational flexibility, the absence of disclosed growth initiatives or new market entries raises questions about long-term expansion potential. The company's operating cash flow of 49,022,438,810 VND further reinforces its ability to fund operations without external financing.

Risk factors include a medium liquidity risk due to the net cash position being negative after subtracting total debt. The company's dilution risk is currently low, with no significant dilution sources identified in the latest filings. However, the company's reliance on a single business segment and geographic concentration increases vulnerability to sector-specific downturns.

Recent events include the latest actual revenue report, which aligns with the company's disclosed financial performance. No material events or regulatory actions have been reported in the latest filings, suggesting a stable operating environment for the company.

Revenue grew 38.1% year-over-year to 1.22 trillion VND, demonstrating strong top-line expansion momentum.

Net income surged 285.4% to 150.8 billion VND, indicating a significant recovery in profitability.

A debt-to-equity ratio of 0.22 is well below the 0.68 cohort median, suggesting lower leverage risk.

Cash conversion of 2.23 outperforms the 1.5 cohort median, highlighting superior cash generation efficiency.

Return on equity of 1.85% is significantly below the 5.27% cohort median, reflecting poor capital efficiency.

The company faces a high credit risk flag, signaling potential difficulties in meeting debt obligations.

Medium liquidity risk suggests the company may face challenges in meeting short-term financial obligations.

Revenue VND 214.20B, −4,4% YoY; Operating income +41,0% YoY.

• ▍Revenue VND 214.20B, −4,4% YoY
• ▍Operating income +41,0% YoY
• ▍Net income −76,0% YoY
• ▍Free cash flow +128,9% YoY
• ▍Net margin 2.7%

Revenue VND 217.33B, −11,7% YoY; Operating income +122,1% YoY.

• ▍Revenue VND 217.33B, −11,7% YoY
• ▍Operating income +122,1% YoY
• ▍Net income −56,0% YoY
• ▍Free cash flow +24,7% YoY
• ▍Net margin 4.2%

Revenue VND 216.74B, −14,4% YoY; Operating income +84,8% YoY.

• ▍Revenue VND 216.74B, −14,4% YoY
• ▍Operating income +84,8% YoY
• ▍Net income −41,3% YoY
• ▍Free cash flow +18,6% YoY
• ▍Net margin 4.6%

Revenue VND 882.66B, −11,9% YoY; Operating income +25,9% YoY.

• ▍Revenue VND 882.66B, −11,9% YoY
• ▍Operating income +25,9% YoY
• ▍Net income −53,5% YoY
• ▍Free cash flow +79,0% YoY
• ▍Net margin 4.4%

Revenue VND 1.00T, −17,8% YoY; Operating income −83,5% YoY.

• ▍Revenue VND 1.00T, −17,8% YoY
• ▍Operating income −83,5% YoY
• ▍Net income −44,2% YoY
• ▍Free cash flow −243,2% YoY
• ▍Net margin 8.4%

Revenue VND 1.09T, +124,7% YoY; Operating income +160,3% YoY.

• ▍Revenue VND 1.09T, +124,7% YoY
• ▍Operating income +160,3% YoY
• ▍Net income +167,3% YoY
• ▍Free cash flow +211,6% YoY
• ▍Net margin 16.9%

Revenue VND 484.68B; Operating income -VND 266.54B.

• ▍Revenue VND 484.68B
• ▍Operating income -VND 266.54B
• ▍Net margin -56.4%