Ba Ria Thermal Power JSC
Ba Ria Thermal Power Joint Stock Company engages in the production and trading of electricity in Vietnam. The company is involved in operation, maintenance, repair, testing, calibration, and refurbishment of electrical equipment; electrical constructions and bottled drinking water business under the POWERFUL brand. It also engages in human resources training and development; construction and inst… Read more
Ba Ria Thermal Power JSC (BTP) - Net Assets
Latest net assets as of December 2025: ₫1.08 Trillion VND
Based on the latest financial reports, Ba Ria Thermal Power JSC (BTP) has net assets worth ₫1.08 Trillion VND as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫1.22 Trillion) and total liabilities (₫147.46 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫1.08 Trillion |
| % of Total Assets | 87.94% |
| Annual Growth Rate | -2.18% |
| 5-Year Change | -15.69% |
| 10-Year Change | N/A |
| Growth Volatility | 4.9 |
Ba Ria Thermal Power JSC - Net Assets Trend (2019–2025)
This chart illustrates how Ba Ria Thermal Power JSC's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Ba Ria Thermal Power JSC (2019–2025)
The table below shows the annual net assets of Ba Ria Thermal Power JSC from 2019 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫1.08 Trillion | +1.09% |
| 2024-12-31 | ₫1.06 Trillion | -11.51% |
| 2023-12-31 | ₫1.20 Trillion | -3.30% |
| 2022-12-31 | ₫1.24 Trillion | -2.53% |
| 2021-12-31 | ₫1.28 Trillion | +4.26% |
| 2020-12-31 | ₫1.22 Trillion | -0.33% |
| 2019-12-31 | ₫1.23 Trillion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Ba Ria Thermal Power JSC's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 51.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫286.08 Billion | 26.61% |
| Other Components | ₫789.10 Billion | 73.39% |
| Total Equity | ₫1.08 Trillion | 100.00% |
Ba Ria Thermal Power JSC Competitors by Market Cap
The table below lists competitors of Ba Ria Thermal Power JSC ranked by their market capitalization.
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ba Ria Thermal Power JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,063,608,372,165 to 1,075,179,783,938, a change of 11,571,411,773 (1.1%).
- Net income of 41,255,659,773 contributed positively to equity growth.
- Dividend payments of 19,903,744,330 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫41.26 Billion | +3.84% |
| Dividends Paid | ₫19.90 Billion | -1.85% |
| Other Changes | ₫-9.78 Billion | -0.91% |
| Total Change | ₫- | 1.09% |
Book Value vs Market Value Analysis
This analysis compares Ba Ria Thermal Power JSC's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.48x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ₫20290.80 | ₫8450.00 | x |
| 2020-12-31 | ₫20223.05 | ₫8450.00 | x |
| 2021-12-31 | ₫21083.99 | ₫8450.00 | x |
| 2022-12-31 | ₫20550.05 | ₫8450.00 | x |
| 2023-12-31 | ₫19872.18 | ₫8450.00 | x |
| 2024-12-31 | ₫17584.49 | ₫8450.00 | x |
| 2025-12-31 | ₫17775.80 | ₫8450.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ba Ria Thermal Power JSC utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.84%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.83%
- • Asset Turnover: 0.43x
- • Equity Multiplier: 1.14x
- Recent ROE (3.84%) is below the historical average (7.28%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 14.86% | 9.63% | 0.95x | 1.63x | ₫59.69 Billion |
| 2020 | 6.62% | 10.79% | 0.44x | 1.40x | ₫-41.39 Billion |
| 2021 | 9.98% | 10.49% | 0.64x | 1.50x | ₫-310.07 Million |
| 2022 | 5.69% | 13.78% | 0.32x | 1.29x | ₫-53.55 Billion |
| 2023 | 5.98% | 9.21% | 0.54x | 1.21x | ₫-48.38 Billion |
| 2024 | 4.03% | 5.99% | 0.56x | 1.20x | ₫-63.54 Billion |
| 2025 | 3.84% | 7.83% | 0.43x | 1.14x | ₫-66.26 Billion |
Industry Comparison
This section compares Ba Ria Thermal Power JSC's net assets metrics with peer companies in the Utilities - Regulated Electric industry.
Industry Context
- Industry: Utilities - Regulated Electric
- Average net assets among peers: $5,161,808,182,651
- Average return on equity (ROE) among peers: 17.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ba Ria Thermal Power JSC (BTP) | ₫1.08 Trillion | 14.86% | 0.14x | $3.07K |
| Central Hydropower JSC (CHP) | $2.00 Trillion | 25.55% | 0.63x | $174.98 Million |
| PetroVietnam Power Nhon Trach 2 JSC (NT2) | $4.30 Trillion | 14.04% | 0.48x | $292.79 Million |
| Power Generation Corp 3 (PGV) | $17.87 Trillion | 20.65% | 2.08x | $8.45 Million |
| Can Don Hydro Power JSC (SJD) | $939.62 Billion | 16.36% | 0.45x | $38.02 Million |
| Viet Nam Power Development JSC (VPD) | $1.27 Trillion | 6.34% | 0.70x | $101.81 Million |
| Vinh Son Song Hinh Hydropower JSC (VSH) | $4.59 Trillion | 21.63% | 1.07x | $380.55 Million |