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    Real estate development
Binh Duong Trade & Development JSC

Binh Duong Trade & Development JSC

HHOSE:TDC
6,720.00
VND
-30.00
(-0.44%)
1.20TMarket Cap
Binh Duong Trade & Development JSC
HOSE:TDC
(Ho Chi Minh Stock Exchange)

Recent

price

6,720.00

P/E

ratio

- -

div

yld

0.02%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
30,625.35
23,096.11
17,164.55
11,165.86
17,460.2
16,267.6
14,496.78
13,543
16,960.02
15,626.43
15,964.66
16,582.07
24,920.29
3,007.24
11,705.72
21,023.21
- -
Revenue per Share
4,640.74
2,448.04
1,596.21
1,000
1,166.43
1,179.57
1,219.93
1,307.35
1,196.63
1,274.23
1,948.15
1,207.73
129.7
-4,028.16
3,723.8
2,336.52
- -
Basic EPS, GAAP
-31,276.33
-3,288.74
-606.73
625.4
-6,263.93
-11,055.48
788.83
2,522.43
1,632.63
6,353.06
3,361.52
-474.32
1,813.96
-573.9
-610.71
-1,918.28
1,860.38
Free Cash Flow per Basic Share
567.41
1,033.57
802.1
367.57
1,415.95
1,394.79
420.63
431.15
490.78
512.34
5,276.34
431.46
1,329.56
34.07
9.74
5.8
1.06
Dividend per Share
4,401.77
12,506.52
12,034.34
12,057.02
11,716.95
11,807.58
11,935.38
12,069.35
12,015.79
11,790.55
12,549.88
12,507.81
11,734.74
7,649.46
10,895.64
13,254.09
13,571.22
Book Value per Share
4,258.07
12,424.57
11,912.35
11,662.65
11,304.09
11,425.67
11,563.71
11,732.31
11,739.33
11,111.56
11,915.8
11,781.01
11,093.1
7,008.34
10,380.32
12,774.29
12,838.66
Tangible Book Value per Share
20
77
100
145
100
100
100
100
100
100
100
100
100
100
100
118
125
Basic Weighted Avg Shares
612,507
1,786,776
1,716,455
1,618,527
1,746,020
1,626,760
1,449,678
1,354,300
1,696,002
1,562,643
1,596,466
1,658,207
2,492,029
300,724
1,170,572
2,478,768
- -
Sales/Revenue/Turnover
6.16
12.08
11.8
13.34
11.08
17.83
19.66
22.29
18.82
26.27
29.31
26.19
10.82
-8.44
35.68
12.72
- -
Operating Margin (%)
11,984
14,319
20,599
28,607
35,218
38,749
35,855
31,810
30,584
29,828
27,942
29,373
27,745
24,979
19,483
18,328
20,417
Depreciation Expense
92,815
189,387
159,621
144,953
116,643
117,957
121,993
130,735
119,663
127,423
194,815
120,773
12,970
-402,816
372,380
275,490
- -
Net Income, GAAP
24.62
24.65
24.09
24.97
24.83
26.64
23.07
21.02
25.41
33.39
23.42
28.71
82.24
- -
3.97
13.89
- -
Effective Tax Rate (%)
15.15
10.6
9.3
8.96
6.68
7.25
8.42
9.65
7.06
8.15
12.2
7.28
0.52
-133.95
31.81
11.11
- -
Profit Margin (%)
360,174
1,225,616
603,759
251,959
-795,029
1,538,771
1,763,639
1,226,556
591,556
-470,513
-707,572
-621,458
-453,754
-1,331,171
-1,283,399
-293,043
-144,630
Working Capital
150,000
150,233
222,713
92,040
512,840
941,083
1,449,478
1,379,283
1,272,063
317,479
861,867
801,193
687,423
689,686
152,642
108,605
121,937
LT Debt
351,086
1,261,712
1,246,043
1,247,834
1,209,999
1,206,136
1,221,552
1,235,363
1,230,565
1,208,028
1,286,672
1,280,086
1,204,328
790,497
1,119,481
1,718,040
1,757,640
Total Equity
10.04
11.97
7.98
7.4
5.01
3.86
3.4
3.81
4.16
4.08
8.59
7.08
0.19
- -
14.55
10.25
- -
Return on Invested Capital (%)
14.02
15.31
11.54
10.42
7.95
7.21
5.91
6.89
6.48
9.47
11.22
7.62
1.73
- -
20.51
14.03
- -
Return on Capital (%)
29.9
23.65
13.01
12.03
9.81
10.03
10.28
10.89
9.94
10.7
16.01
9.64
1.07
-41.56
40.16
19.85
- -
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,157,183
1,051,258
1,246,528
LT Borrowings
108,605
104,051
121,937
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
127
127
127
Market Capitalization
1,501,290
1,393,147
1,203,577

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,429,736
2,176,913
2,177,626
Cash, Cash Equivalents & STI
96,256
25,926
61,297
Accounts Receivable, Net
1,212,687
943,164
1,038,508
Inventories
248,719
359,189
299,748
Total Current Liabilities
2,722,780
2,471,354
2,322,255
Payables & Accruals
- -
- -
- -
ST Debt
1,157,183
1,051,258
1,246,528
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.1%
10.86%
53.47%
Free Cash Flow
-13.2%
-90.29%
270.35%
Net Income, GAAP
-349.01%
-710.31%
-26.02%
Sales/Revenue/Turnover
36.93%
73.45%
111.76%
Total Cash Common Dividend
79.84%
-16.46%
-29.79%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
119,212
115,696
171,726
763,938
1,170,572
2025
126,221
505,169
- -
1,162,452
2,478,768
2026
231,115
552,488
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-233.98
-265.86
533
2,689
3,723.8
2025
192.6
378
- -
1,017
2,336.52
2026
66.08
8.79
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.06
2.24
1.28
6.16
9.74
2025
- -
- -
- -
1.1
5.8
2026
- -
- -
- -
- -
- -
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Business
Binh Duong Trade and Development Joint Stock Company is a Vietnam-based enterprise primarily engaged in real estate development, civil and industrial construction, building materials manufacturing, and commercial trading services. Founded in 2002 and headquartered in Thu Dau Mot City, Binh Duong Province, Vietnam, the company operates as a key member subsidiary of Investment and Industrial Development Joint Stock Corporation (Becamex IDC). The company operates across four main business divisions: Real Estate, Construction, Building Materials, and Commercial Services. In its Real Estate division, the company develops, constructs, and markets residential urban areas, commercial townhouses, luxury villas, and condominium complexes, with prominent projects including Uni-Town, TDC Plaza, Western Land, Eastern Land, and master-planned residential zones in Binh Duong New City. In its Construction division, the company provides general civil and industrial construction contracting; transportation and urban technical infrastructure execution; project management; and structural engineering supervision. In its Building Materials division, the company manufactures and distributes ready-mix concrete; precast concrete structures and reinforced drainage pipes; structural steel; crushed stone; non-fired and ceramic bricks; and architectural interior finishing materials. In its Commercial Services division, the company manages commercial centers, retail supermarkets, warehouse logistics, and property management operations throughout southern Vietnam. In recent developments, the company has undertaken major asset and portfolio realignments, including the structured transfer and divestment of select residential and commercial land parcels in Binh Duong New City to optimize cash flows and strengthen balance sheet liquidity. The company has also executed corporate debt and bond restructuring initiatives, negotiating extended repayment terms and collateral adjustments with institutional bondholders. Furthermore, the company has deepened strategic operational partnerships with parent company Becamex IDC and regional infrastructure developers to secure supply agreements for high-volume ready-mix concrete and infrastructure construction packages across newly expanding industrial park clusters and urban transit corridors in Binh Duong Province.