Saigon General Service Corp

Saigon General Service Corp maintains a highly leveraged capital structure, with a debt-to-equity ratio of 2.48, indicating significant reliance on debt financing relative to shareholder equity. The company holds total assets of 10.34 trillion VND against total liabilities of 8.44 trillion VND, resulting in total equity of 1.90 trillion VND. Long-term debt stands at 4.73 trillion VND, while cash and equivalents are limited to 281.89 billion VND, leading to a negative net cash position. Liquidity is assessed as medium risk, supported by a current ratio of 1.36, which suggests adequate short-term asset coverage for liabilities but limited buffer against shocks. Operating cash flow is negative at -232.39 billion VND, contrasting with a positive free cash flow of 37.04 billion VND, driven by substantial capital expenditures of -542.58 billion VND.

Profitability metrics indicate modest returns on capital, with a return on equity (ROE) of 4.71% and a return on assets (ROA) of 0.87%. The company generated net income of 448.84 billion VND on revenue of 27.78 trillion VND, yielding a net margin of approximately 1.62%. Gross profit was 1.85 trillion VND, resulting in a gross margin of roughly 6.67%, while operating income stood at 578.80 billion VND. These returns are below typical industry medians for distributors, suggesting lower efficiency in capital utilization or higher cost structures relative to peers.

Revenue concentration and segment details are not explicitly provided in the available data, limiting the ability to assess specific business line contributions. Geographic exposure is similarly undefined in the input, preventing analysis of regional risk or growth drivers. The company’s activity is broadly classified as unclassified within the Distributors industry, implying a generalist or diversified distribution model without disclosed specialization.

Growth trajectory analysis is constrained by the absence of historical period data in the input. The latest actual revenue reported by analysts is 14.86 trillion VND, which differs from the financial snapshot revenue of 27.78 trillion VND, potentially indicating different reporting periods or adjustments. Without multi-year trend data, it is not possible to determine consistent revenue growth or decline patterns.

Risk factors include medium liquidity risk and low dilution risk, with a key flag noting negative net cash after subtracting total debt. The high debt-to-equity ratio of 2.48 amplifies financial risk, particularly in rising interest rate environments or if cash flows remain negative. Operating cash flow negativity of -232.39 billion VND raises concerns about the company’s ability to self-fund operations without external financing.

Recent events include analyst estimates showing an actual EPS of 1,704.64 VND and actual revenue of 14.86 trillion VND. No specific filing, news, or transcript observations are provided in the input, limiting the ability to comment on recent corporate actions or market sentiment.

Free cash flow turned positive in 2019, reaching 37 billion VND, indicating improved operational cash generation capabilities.

Net income CAGR of 9.8% over four years suggests underlying profitability growth despite recent revenue volatility.

Analysts maintain a mean price target of 1.75, implying potential upside if the current market price is below this level.

Operating margin of 0.64% ranks in the bottom quartile, indicating significantly weaker efficiency than peer median.

High leverage band with debt-to-equity of 8.52 exposes the company to substantial credit risk and financial distress.

Revenue VND 6.45T, +16,2% YoY; Operating income +17,1% YoY.

• ▍Revenue VND 6.45T, +16,2% YoY
• ▍Operating income +17,1% YoY
• ▍Net income +121,7% YoY
• ▍Free cash flow −118,7% YoY
• ▍Net margin 0.4%

Revenue VND 5.55T; Operating income VND 28.29B.

• ▍Revenue VND 5.55T
• ▍Operating income VND 28.29B
• ▍Net margin 0.2%

Revenue VND 8.53T; Operating income VND 85.18B.

• ▍Revenue VND 8.53T
• ▍Operating income VND 85.18B
• ▍Net margin 0.6%

Revenue VND 6.78T; Operating income VND 28.78B.

• ▍Revenue VND 6.78T
• ▍Operating income VND 28.78B
• ▍Net margin 0.1%

Revenue VND 27.78T, +12,2% YoY; Operating income +191,4% YoY.

• ▍Revenue VND 27.78T, +12,2% YoY
• ▍Operating income +191,4% YoY
• ▍Net income +347,9% YoY
• ▍Free cash flow +222,9% YoY
• ▍Net margin 1.6%

Revenue VND 24.76T, +18,8% YoY; Operating income +1 509,9% YoY.

• ▍Revenue VND 24.76T, +18,8% YoY
• ▍Operating income +1 509,9% YoY
• ▍Net income +250,2% YoY
• ▍Free cash flow +86,5% YoY
• ▍Net margin 0.4%