Thien Viet Securities JSC (TVS) - Net Assets
Based on the latest financial reports, Thien Viet Securities JSC (TVS) has net assets worth ₫2.97 Trillion VND (≈ $112.76 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫6.07 Trillion ≈ $230.49 Million USD) and total liabilities (₫3.10 Trillion ≈ $117.74 Million USD). 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. Check tangible equity quality of Thien Viet Securities JSC to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫2.97 Trillion |
| % of Total Assets | 48.92% |
| Annual Growth Rate | 17.58% |
| 5-Year Change | 67.49% |
| 10-Year Change | N/A |
| Growth Volatility | 11.34 |
Thien Viet Securities JSC - Net Assets Trend (2020–2025)
This chart illustrates how Thien Viet Securities JSC's net assets have evolved over time, based on quarterly financial data. See Thien Viet Securities JSC defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Thien Viet Securities JSC (2020–2025)
The table below shows the annual net assets of Thien Viet Securities JSC from 2020 to 2025. For live valuation and market cap data, see Thien Viet Securities JSC stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫2.94 Trillion ≈ $111.68 Million |
+25.93% |
| 2024-12-31 | ₫2.33 Trillion ≈ $88.68 Million |
+13.56% |
| 2023-12-31 | ₫2.06 Trillion ≈ $78.09 Million |
+16.22% |
| 2022-12-31 | ₫1.77 Trillion ≈ $67.19 Million |
+0.77% |
| 2021-12-31 | ₫1.75 Trillion ≈ $66.68 Million |
+34.15% |
| 2020-12-31 | ₫1.31 Trillion ≈ $49.70 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Thien Viet Securities 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 grown by 181.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫915.18 Billion | 31.15% |
| Other Components | ₫2.02 Trillion | 68.85% |
| Total Equity | ₫2.94 Trillion | 100.00% |
Thien Viet Securities JSC Competitors by Market Cap
The table below lists competitors of Thien Viet Securities JSC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
U.S. GoldMining Inc. Common stock
NASDAQ:USGO
|
$112.58 Million |
|
General de Alquiler de Maquinaria SA
MC:GAM
|
$112.58 Million |
|
Cj Corp Pref
KO:001045
|
$112.68 Million |
|
Kangnam Jevisco Co Ltd
KO:000860
|
$112.68 Million |
|
Aeternal Mentis SA
MC:AMEN
|
$112.55 Million |
|
Kuang Hong Arts Management
TWO:6596
|
$112.54 Million |
|
ZHEJIANG SHIBAO H YC 1
F:W4K1
|
$112.53 Million |
|
flyExclusive, Inc.
NYSE MKT:FLYX
|
$112.53 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Thien Viet Securities JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,332,953,231,796 to 2,937,611,773,626, a change of 604,658,541,830 (25.9%).
- Net income of 286,413,538,716 contributed positively to equity growth.
- Dividend payments of 340,710,495 reduced retained earnings.
- New share issuances of 333,870,867,475 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫286.41 Billion | +9.75% |
| Dividends Paid | ₫340.71 Million | -0.01% |
| Share Issuances | ₫333.87 Billion | +11.37% |
| Other Changes | ₫-15.29 Billion | -0.52% |
| Total Change | ₫- | 25.92% |
Book Value vs Market Value Analysis
This analysis compares Thien Viet Securities 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: 1.01x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 1.67x to 1.01x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | ₫7910.01 | ₫13200.00 | x |
| 2023-12-31 | ₫13570.75 | ₫13200.00 | x |
| 2024-12-31 | ₫11418.56 | ₫13200.00 | x |
| 2025-12-31 | ₫13088.58 | ₫13200.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Thien Viet Securities 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): 9.75%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 41.00%
- • Asset Turnover: 0.09x
- • Equity Multiplier: 2.60x
- Recent ROE (9.75%) is below the historical average (13.96%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 17.79% | 64.72% | 0.09x | 2.99x | ₫101.85 Billion |
| 2021 | 29.46% | 56.07% | 0.13x | 4.10x | ₫341.49 Billion |
| 2022 | 2.47% | 5.85% | 0.08x | 5.35x | ₫-133.07 Billion |
| 2023 | 12.24% | 25.46% | 0.07x | 6.59x | ₫45.94 Billion |
| 2024 | 12.04% | 32.63% | 0.12x | 3.17x | ₫47.58 Billion |
| 2025 | 9.75% | 41.00% | 0.09x | 2.60x | ₫-7.35 Billion |
Industry Comparison
This section compares Thien Viet Securities JSC's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $7,293,184,309,692
- Average return on equity (ROE) among peers: 7.35%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Thien Viet Securities JSC (TVS) | ₫2.97 Trillion | 17.79% | 1.04x | $112.56 Million |
| AgriBank Securities JSC (AGR) | $2.50 Trillion | 5.86% | 0.12x | $130.55 Million |
| BIDV Securities JSC (BSI) | $5.06 Trillion | 8.16% | 1.04x | $323.49 Million |
| VietinBank Securities JSC (CTS) | $1.85 Trillion | 3.83% | 1.72x | $209.30 Million |
| FPT Securities JSC (FTS) | $3.35 Trillion | 9.50% | 0.58x | $390.27 Million |
| Ho Chi Minh City Securities Corp (HCM) | $8.31 Trillion | 8.11% | 1.15x | $1.16 Billion |
| Tien Phong Securities Corp (ORS) | $3.92 Trillion | 9.67% | 1.86x | $310.54 Million |
| SSI Securities Corp (SSI) | $32.07 Trillion | 12.80% | 1.93x | $2.35 Billion |
| Viet Capital Securities JSC (VCI) | $6.50 Trillion | 13.38% | 1.19x | $1.07 Billion |
| Viet Dragon Securities Corp (VDS) | $2.08 Trillion | -5.21% | 1.04x | $150.88 Million |
About Thien Viet Securities JSC
Thien Viet Securities Joint Stock Company provides brokerage, proprietary trading, underwriting for securities issues, securities investment and financial advisory, margin trading, and custodian services in Vietnam. It offers investment banking services, including capital raising and financial restructuring services; brokerage services to retail customers and institutional clients; asset manageme… Read more