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Thien Viet Securities JSC

Thien Viet Securities JSC

HHOSE:TVS
13,000.00
VND
+50.00
(+0.39%)
847.07EPS
16.65P/E
3.38TMarket Cap
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1,300.24
922.78
1,447.98
2,076.55
1,474.44
1,885.02
4,257.54
3,479.91
4,528.74
3,843.66
3,052.89
2,976
Basic EPS, GAAP
608.55
447.45
1,006.56
811.75
635.77
1,220.06
2,390.88
204.26
1,153.23
1,254.16
1,251.76
830.53
Free Cash Flow per Basic Share
1,299.82
-4,008.38
-855.24
-4,879.23
-1,647.25
-2,813.16
-2,468.43
764.36
-6,058.72
-2,019.63
2,816.19
-1,160.79
Dividend per Share
158.02
290.71
177.01
194.94
182.4
0.17
272.09
0.02
0.02
3.24
1.49
1.05
Book Value per Share
3,345.7
3,434.48
4,360.66
4,998.52
5,355.25
6,042.31
8,224.22
8,284.03
9,424.03
10,671.55
12,232.31
12,167.98
Tangible Book Value per Share
3,282.95
3,364.81
4,308.24
4,967.27
5,344.09
6,038.3
8,165.6
8,228.4
9,379.61
10,620.89
12,191.37
12,127.94
Basic Weighted Avg Shares
147
149
167
173
173
191
216
214
218
224
229
236
Sales/Revenue/Turnover
190,592
137,831
241,701
359,671
255,650
359,428
920,516
743,672
986,786
860,814
698,531
702,009
Operating Margin (%)
55.85
60.2
100.53
68.31
87.25
108.32
84.82
63.19
91.28
82.66
72.11
61.91
Depreciation Expense
3,249
4,782
4,728
4,899
5,105
3,422
3,063
4,720
6,095
7,139
9,046
8,909
Net Income, GAAP
89,203
66,833
168,018
140,600
110,235
232,635
516,929
43,651
251,281
280,877
286,414
195,913
Effective Tax Rate (%)
21.07
18.16
19.31
20.47
19.54
19.4
19.71
15.76
19.56
18.08
18.77
24.9
Profit Margin (%)
46.8
48.49
69.51
39.09
43.12
64.72
56.16
5.87
25.46
32.63
41
27.91
Working Capital
545,900
585,244
736,131
1,023,498
971,569
1,337,143
1,740,628
-901,323
299,921
1,755,387
2,792,350
2,412,680
LT Debt
- -
- -
- -
165,000
- -
20,000
- -
185,500
83,470
- -
300,000
300,000
Total Equity
574,001
610,049
745,121
873,750
980,278
1,308,177
1,754,912
1,768,482
2,055,416
2,334,169
2,939,319
3,012,075
Return on Invested Capital (%)
- -
6.13
11.59
6.68
3.94
6.85
11.75
0.89
4.45
4.18
3.97
4.83
Return on Capital (%)
- -
8.82
14.63
9.79
6.75
9.47
13.28
3.92
7.33
6.33
6.44
5.31
Return on Common Equity (%)
- -
11.29
24.81
17.38
11.9
20.34
33.76
2.48
13.15
12.81
10.87
7.27

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
4,209,872
2,651,577
3,769,320
LT Borrowings
300,000
300,000
300,000
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
240
240
245
Market Capitalization
3,316,515
3,029,939
3,383,871

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
7,176,437
5,086,555
6,275,930
Cash, Cash Equivalents & STI
6,443,713
4,552,817
5,748,647
Accounts Receivable, Net
272,214
174,409
151,388
Inventories
23
335
24
Total Current Liabilities
4,384,087
2,784,335
3,863,250
Payables & Accruals
- -
- -
- -
ST Debt
4,209,872
2,651,577
3,769,320
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.2%
18.13%
25.93%
Free Cash Flow
-132.43%
-269.5%
-242.46%
Net Income, GAAP
71.95%
104.01%
1.97%
Sales/Revenue/Turnover
24.61%
27.59%
-18.85%
Total Cash Common Dividend
20,093.17%
40,193.63%
-53.1%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
261,329
298,732
87,768
199,480
860,814
2025
123,917
104,017
305,524
120,960
698,531
2026
149,830
125,695
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
465.73
119.86
221.48
479.28
1,254.16
2025
217.44
239.55
826.79
40.72
1,251.76
2026
9.08
13.11
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
3.18
3.21
0.11
3.24
2025
0.45
0.02
- -
1.03
1.49
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Thao Thanh Nguyen
Full Time Employees
115
Sector
Finance
Industry
Investment banks/Brokers
Address
Ha Noi Vietnam
IPO Date
Jan 15, 2015
Website
tvs.vn
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Business
Thien Viet Securities Joint Stock Company is a Vietnam-based boutique investment bank and financial services provider engaged in investment banking, securities brokerage, asset management, and proprietary trading. Founded in 2006 and headquartered in Hanoi, Vietnam, with operational branches in Ho Chi Minh City, the company operates across five principal business segments: Investment Banking, Securities Brokerage, Asset Management, Principal Investments, and Research. The company offers a comprehensive range of financial products and services, including equity, bond, and derivative brokerage; securities custody and settlement; margin financing and cash advance facilities; initial public offering (IPO) advisory, capital raising, and securities underwriting; mergers and acquisitions (M&A) advisory, corporate restructuring, and valuation consulting; institutional portfolio management, closed-end fund administration, and wealth advisory services provided through its subsidiary, Thien Viet Asset Management Joint Stock Company (TVAM); and equity research, macroeconomic intelligence, and market strategy reporting. Additionally, the company conducts proprietary investment activities, allocating capital across listed equities, fixed-income debt securities, certificates of deposit, and strategic private equity assets in high-growth digital sectors. In recent developments, Thien Viet Securities launched eWealth, an artificial intelligence- and data-science-driven hybrid wealth management platform developed in collaboration with TVAM to scale digital advisory services for retail investors; advanced its strategic venture capital and fintech investment portfolio, including long-term holdings in leading Vietnamese financial technology firms such as MoMo (M-Service) and digital wealth platform Finhay; and executed infrastructure upgrades across its electronic trading systems to enhance digital onboarding, transaction execution, and cybersecurity protections.