Viet Capital Securities JSC (VCI) - Net Assets
Based on the latest financial reports, Viet Capital Securities JSC (VCI) has net assets worth ₫18.01 Trillion VND (≈ $684.27 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫36.01 Trillion ≈ $1.37 Billion USD) and total liabilities (₫18.00 Trillion ≈ $683.74 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 financial resilience of Viet Capital Securities JSC to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫18.01 Trillion |
| % of Total Assets | 50.02% |
| Annual Growth Rate | 28.22% |
| 5-Year Change | 175.3% |
| 10-Year Change | N/A |
| Growth Volatility | 25.6 |
Viet Capital Securities JSC - Net Assets Trend (2019–2025)
This chart illustrates how Viet Capital Securities JSC's net assets have evolved over time, based on quarterly financial data. Also explore Viet Capital Securities JSC balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Viet Capital Securities JSC (2019–2025)
The table below shows the annual net assets of Viet Capital Securities JSC from 2019 to 2025. For live valuation and market cap data, see VCI market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫18.01 Trillion ≈ $684.27 Million |
+39.13% |
| 2024-12-31 | ₫12.94 Trillion ≈ $491.80 Million |
+75.61% |
| 2023-12-31 | ₫7.37 Trillion ≈ $280.06 Million |
+13.48% |
| 2022-12-31 | ₫6.50 Trillion ≈ $246.79 Million |
-0.71% |
| 2021-12-31 | ₫6.54 Trillion ≈ $248.55 Million |
+44.68% |
| 2020-12-31 | ₫4.52 Trillion ≈ $171.79 Million |
+11.60% |
| 2019-12-31 | ₫4.05 Trillion ≈ $153.94 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Viet Capital 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 2.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫1.53 Trillion | 8.52% |
| Other Components | ₫16.48 Trillion | 91.48% |
| Total Equity | ₫18.01 Trillion | 100.00% |
Viet Capital Securities JSC Competitors by Market Cap
The table below lists competitors of Viet Capital Securities JSC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Guangdong Hoshion Aluminium Co Ltd
SHE:002824
|
$1.14 Billion |
|
Lucky Harvest
SHE:002965
|
$1.14 Billion |
|
Ayalon Holdings Ltd
TA:AYAL
|
$1.14 Billion |
|
Meren Energy Inc.
NASDAQ:MRNFF
|
$1.14 Billion |
|
British American Tobacco PLC
LSE:BATS
|
$1.14 Billion |
|
HIT Welding Industry Co. Ltd.
SHE:301137
|
$1.14 Billion |
|
Three Squirrels
SHE:300783
|
$1.14 Billion |
|
Nanobiotix
NASDAQ:NBTX
|
$1.14 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Viet Capital Securities JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 12,944,305,447,861 to 18,009,896,539,949, a change of 5,065,591,092,088 (39.1%).
- Net income of 1,341,954,506,958 contributed positively to equity growth.
- Dividend payments of 179,471,939,750 reduced retained earnings.
- New share issuances of 4,006,506,240,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫1.34 Trillion | +7.45% |
| Dividends Paid | ₫179.47 Billion | -1.0% |
| Share Issuances | ₫4.01 Trillion | +22.25% |
| Other Changes | ₫-103.40 Billion | -0.57% |
| Total Change | ₫- | 39.13% |
Book Value vs Market Value Analysis
This analysis compares Viet Capital 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: 1.67x
- 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 2.76x to 1.67x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ₫9481.66 | ₫26200.00 | x |
| 2020-12-31 | ₫10501.41 | ₫26200.00 | x |
| 2022-12-31 | ₫14914.97 | ₫26200.00 | x |
| 2023-12-31 | ₫9600.30 | ₫26200.00 | x |
| 2024-12-31 | ₫13352.43 | ₫26200.00 | x |
| 2025-12-31 | ₫15693.05 | ₫26200.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Viet Capital 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): 7.45%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 45.46%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 2.00x
- Recent ROE (7.45%) is below the historical average (13.08%), 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 | 17.11% | 65.01% | 0.15x | 1.79x | ₫288.02 Billion |
| 2020 | 17.01% | 58.40% | 0.16x | 1.85x | ₫316.76 Billion |
| 2021 | 22.91% | 60.31% | 0.15x | 2.54x | ₫844.53 Billion |
| 2022 | 13.38% | 43.94% | 0.14x | 2.19x | ₫219.43 Billion |
| 2023 | 6.67% | 32.19% | 0.09x | 2.34x | ₫-245.22 Billion |
| 2024 | 7.04% | 40.57% | 0.08x | 2.05x | ₫-383.74 Billion |
| 2025 | 7.45% | 45.46% | 0.08x | 2.00x | ₫-459.04 Billion |
Industry Comparison
This section compares Viet Capital Securities JSC's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $6,525,073,057,621
- Average return on equity (ROE) among peers: 10.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Viet Capital Securities JSC (VCI) | ₫18.01 Trillion | 17.11% | 1.00x | $1.14 Billion |
| AgriBank Securities JSC (AGR) | $1.97 Trillion | 3.47% | 0.07x | $125.78 Million |
| BIDV Securities JSC (BSI) | $4.68 Trillion | 8.72% | 0.78x | $326.75 Million |
| VietinBank Securities JSC (CTS) | $2.25 Trillion | 10.26% | 2.86x | $210.92 Million |
| FPT Securities JSC (FTS) | $4.42 Trillion | 8.98% | 2.15x | $342.94 Million |
| Ho Chi Minh City Securities Corp (HCM) | $7.33 Trillion | 15.66% | 2.33x | $1.10 Billion |
| Tien Phong Securities Corp (ORS) | $2.17 Trillion | 9.70% | 1.19x | $311.73 Million |
| SSI Securities Corp (SSI) | $32.07 Trillion | 12.80% | 1.93x | $2.39 Billion |
| Thien Viet Securities JSC (TVS) | $1.75 Trillion | 29.46% | 3.10x | $116.83 Million |
| Viet Dragon Securities Corp (VDS) | $2.08 Trillion | -5.21% | 1.04x | $149.33 Million |
About Viet Capital Securities JSC
Vietcap Securities Joint Stock Company provides financial solutions to individuals and institutional clients in Vietnam. It offers retail investment advisory, institutional sales and trading, wealth management, and investment banking services. The company also provides securities brokerage, proprietary securities trading, underwriting and securities custodian, securities investment consultancy an… Read more