Fundamental Analysis
| Quarterly results | Relative Valuation | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Criterion | Latest Q EPS growth (YoY) | Avg EPS growth, last 3 (YoY) | Quarters with EPS growth | Revenue growth (YoY) | Gross margin change (pp, YoY) | Net margin change (pp, YoY) | Return on Equity (TTM) | Financial health (Debt/Equity) | Valuation (P/E vs 5-yr median) | Revenue (bn) | Rev YoY | NPAT (bn) | NPAT YoY | P/E | 5-Year Median P/E | P/E vs. 5-Year Median |
| Value | -22.2% | +11.0% | 1 / 3 | +51.0% | -0.56 pp | -2.76 pp | +14.0% | 1.29 | 9.00 | 1.196 | +51,0% | 301 | +36,0% | 9.00 | 18.66 | −51,7% |
| Pts | 0 | 0 | 4 | 12 | 4 | 0 | 0 | 6 | 12 | |||||||
Financial charts
1.Market Liquidity, Client Deposits & Market Share
Market ADTV: HOSE + HNX (matched orders) - estimated as the sum over listed stocks of close × volume.
Dashed line: share of brokerage revenue among listed brokers, a proxy for brokers outside HOSE's published top 10. It is not on the same scale as HOSE market share (listed brokers only, fee levels differ), so the two lines are never joined.
1.Market Liquidity, Client Deposits & Market Share
Market ADTV: HOSE + HNX (matched orders) - estimated as the sum over listed stocks of close × volume.
Dashed line: share of brokerage revenue among listed brokers, a proxy for brokers outside HOSE's published top 10. It is not on the same scale as HOSE market share (listed brokers only, fee levels differ), so the two lines are never joined.
2.Capital Structure & Cost of Funds
3.Earning-Asset Allocation & Risk Appetite
FVTPL is not split by instrument where the notes do not reconcile to the balance sheet; there the whole book counts as risk assets.
4.Asset-Liability Spread: YEA vs Cost of Funds
5.Margin Book, Margin Leverage & NIM
Reference line: legal cap of 200% of equity (QĐ 87/QĐ-UBCK).
6.Proprietary Trading Quality
7.Profit Engines & Parent NPAT
8.Cost Efficiency, Liquidity & Leverage
9.Capital Cushion (CAR substitute)
Substitute capital-cushion indicator — CAR thresholds (180% / 150%) do not apply.
The official CAR (reviewed half-year and audited annual reports) has not been collected yet.
10.DuPont Decomposition & Valuation Band
DuPont factors use consolidated figures; the ROE bar is parent-company ROE, so the two can differ slightly by the minority interest.
Source: vnstockData through Q3/26