VNDIRECT Securities Corp (VND) - Net Assets
Based on the latest financial reports, VNDIRECT Securities Corp (VND) has net assets worth ₫19.63 Trillion VND (≈ $745.89 Million USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫47.92 Trillion ≈ $1.82 Billion USD) and total liabilities (₫28.29 Trillion ≈ $1.07 Billion 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 VNDIRECT Securities Corp liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫19.63 Trillion |
| % of Total Assets | 40.97% |
| Annual Growth Rate | 43.4% |
| 5-Year Change | 416.2% |
| 10-Year Change | N/A |
| Growth Volatility | 54.39 |
VNDIRECT Securities Corp - Net Assets Trend (2019–2024)
This chart illustrates how VNDIRECT Securities Corp's net assets have evolved over time, based on quarterly financial data. Also explore how large is VNDIRECT Securities Corp's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for VNDIRECT Securities Corp (2019–2024)
The table below shows the annual net assets of VNDIRECT Securities Corp from 2019 to 2024. For live valuation and market cap data, see market value of VNDIRECT Securities Corp.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₫19.72 Trillion ≈ $749.05 Million |
+19.43% |
| 2023-12-31 | ₫16.51 Trillion ≈ $627.20 Million |
+13.73% |
| 2022-12-31 | ₫14.51 Trillion ≈ $551.47 Million |
+47.77% |
| 2021-12-31 | ₫9.82 Trillion ≈ $373.19 Million |
+157.18% |
| 2020-12-31 | ₫3.82 Trillion ≈ $145.11 Million |
+17.57% |
| 2019-12-31 | ₫3.25 Trillion ≈ $123.42 Million |
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Equity Component Analysis
This analysis shows how different components contribute to VNDIRECT Securities Corp'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 299.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫4.49 Trillion | 22.79% |
| Other Components | ₫15.22 Trillion | 77.21% |
| Total Equity | ₫19.72 Trillion | 100.00% |
VNDIRECT Securities Corp Competitors by Market Cap
The table below lists competitors of VNDIRECT Securities Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
LiaonWellhope Agri-Tech Co Ltd
SHG:603609
|
$931.71 Million |
|
Qinghai Jinrui Mineral Development Co Ltd
SHG:600714
|
$931.94 Million |
|
Guararapes Confecções S.A
SA:GUAR3
|
$932.14 Million |
|
Zee Entertainment Enterprises Limited
NSE:ZEEL
|
$932.19 Million |
|
Dalian Insulator Group Co Ltd
SHE:002606
|
$930.99 Million |
|
Jiangsu Huaxicun Co Ltd
SHE:000936
|
$930.90 Million |
|
Alarko Holding AS
IS:ALARK
|
$930.89 Million |
|
Dynavox Group
ST:DYVOX
|
$930.88 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in VNDIRECT Securities Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 16,507,819,526,994 to 19,715,068,693,211, a change of 3,207,249,166,217 (19.4%).
- Net income of 1,718,425,030,212 contributed positively to equity growth.
- Dividend payments of 761,149,954,000 reduced retained earnings.
- New share issuances of 2,435,536,820,000 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫1.72 Trillion | +8.72% |
| Dividends Paid | ₫761.15 Billion | -3.86% |
| Share Issuances | ₫2.44 Trillion | +12.35% |
| Other Changes | ₫-185.56 Billion | -0.94% |
| Total Change | ₫- | 19.43% |
Book Value vs Market Value Analysis
This analysis compares VNDIRECT Securities Corp'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: 1.24x
- 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 1.65x to 1.24x 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 | ₫9748.21 | ₫16100.00 | x |
| 2020-12-31 | ₫11463.33 | ₫16100.00 | x |
| 2021-12-31 | ₫7126.66 | ₫16100.00 | x |
| 2022-12-31 | ₫11918.55 | ₫16100.00 | x |
| 2023-12-31 | ₫11812.60 | ₫16100.00 | x |
| 2024-12-31 | ₫12950.84 | ₫16100.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently VNDIRECT Securities Corp 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): 8.72%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 59.32%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 2.25x
- Recent ROE (8.72%) is below the historical average (13.93%), 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 | 11.78% | 38.70% | 0.09x | 3.56x | ₫57.81 Billion |
| 2020 | 18.14% | 53.64% | 0.09x | 3.92x | ₫310.84 Billion |
| 2021 | 24.26% | 82.34% | 0.08x | 3.78x | ₫1.40 Trillion |
| 2022 | 8.41% | 37.92% | 0.08x | 2.68x | ₫-231.19 Billion |
| 2023 | 12.25% | 54.45% | 0.09x | 2.53x | ₫371.47 Billion |
| 2024 | 8.72% | 59.32% | 0.07x | 2.25x | ₫-253.08 Billion |
Industry Comparison
This section compares VNDIRECT Securities Corp's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $7,166,996,296,645
- Average return on equity (ROE) among peers: 10.09%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| VNDIRECT Securities Corp (VND) | ₫19.63 Trillion | 11.78% | 1.44x | $931.19 Million |
| 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 Capital Securities JSC (VCI) | $12.94 Trillion | 7.04% | 1.05x | $1.14 Billion |
| Viet Dragon Securities Corp (VDS) | $2.08 Trillion | -5.21% | 1.04x | $149.33 Million |
About VNDIRECT Securities Corp
VNDIRECT Securities Joint Stock Company provides various investment products in Vietnam. The company offers investment services, including asset management and investment advisory, and securities trading and brokerage services, as well as margin products; and asset portfolio products comprising DSAVE for defense assets, DINVEST for life-long assets, and DTRADE for stock investment. It also provid… Read more