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Thien Nam Trading - Import Export

HOSE:TNA
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TNA
HOSE
₫658B
Market Cap
  1. Home
  2. VN
  3. Capital Goods
Company description

Thien Nam Trading - Import Export Joint Stock Company, together with its subsidiaries, engages in trading steel products in Vietnam. The last earnings update was 29 days ago. More info.


Add to Portfolio Compare Print
  • Thien Nam Trading - Import Export has significant price volatility in the past 3 months.
TNA Share Price and Events
7 Day Returns
1.6%
HOSE:TNA
3.8%
VN Trade Distributors
-0.8%
VN Market
1 Year Returns
79.5%
HOSE:TNA
14.5%
VN Trade Distributors
-3.3%
VN Market
TNA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Thien Nam Trading - Import Export (TNA) 1.6% 4.9% -12.7% 79.5% 11.4% 179.6%
VN Trade Distributors 3.8% 2.5% -5.8% 14.5% -12.1% -52.9%
VN Market -0.8% -4.6% -5.6% -3.3% 32.6% 67.9%
1 Year Return vs Industry and Market
  • TNA outperformed the Trade Distributors industry which returned 14.5% over the past year.
  • TNA outperformed the Market in Viet Nam which returned -3.3% over the past year.
Price Volatility
TNA
Industry
5yr Volatility vs Market

Value

 Is Thien Nam Trading - Import Export undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Thien Nam Trading - Import Export to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Thien Nam Trading - Import Export.

HOSE:TNA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 19.6%
Perpetual Growth Rate 10-Year VN Government Bond Rate 3.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for HOSE:TNA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year VN Govt Bond Rate 3.7%
Equity Risk Premium S&P Global 9.3%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.957 (1 + (1- 20%) (142.61%))
1.702
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.7
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.71% + (1.702 * 9.33%)
19.59%

Discounted Cash Flow Calculation for HOSE:TNA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Thien Nam Trading - Import Export is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

HOSE:TNA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (VND, Millions) Source Present Value
Discounted (@ 19.59%)
2020 339,141.24 Est @ 71.5% 283,585.06
2021 512,649.27 Est @ 51.16% 358,447.72
2022 701,948.57 Est @ 36.93% 410,405.82
2023 891,200.82 Est @ 26.96% 435,698.97
2024 1,069,313.46 Est @ 19.99% 437,138.17
2025 1,230,811.69 Est @ 15.1% 420,734.42
2026 1,374,633.12 Est @ 11.69% 392,921.66
2027 1,502,371.75 Est @ 9.29% 359,086.70
2028 1,616,819.33 Est @ 7.62% 323,136.59
2029 1,721,030.69 Est @ 6.45% 287,617.96
Present value of next 10 years cash flows ₫3,708,773.00
HOSE:TNA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ₫1,721,030.69 × (1 + 3.71%) ÷ (19.59% – 3.71%)
₫11,239,337.42
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₫11,239,337.42 ÷ (1 + 19.59%)10
₫1,878,313.56
HOSE:TNA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₫3,708,773.00 + ₫1,878,313.56
₫5,587,086.56
Equity Value per Share
(VND)
= Total value / Shares Outstanding
= ₫5,587,086.56 / 34.25
₫163130.87
HOSE:TNA Discount to Share Price
Calculation Result
Value per share (VND) From above. ₫163,130.87
Current discount Discount to share price of ₫19,200.00
= -1 x (₫19,200.00 - ₫163,130.87) / ₫163,130.87
88.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Thien Nam Trading - Import Export is available for.
Intrinsic value
>50%
Share price is ₫19200 vs Future cash flow value of ₫163130.87
Current Discount Checks
For Thien Nam Trading - Import Export to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Thien Nam Trading - Import Export's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Thien Nam Trading - Import Export's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Thien Nam Trading - Import Export's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Thien Nam Trading - Import Export's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
HOSE:TNA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in VND ₫3,301.00
HOSE:TNA Share Price ** HOSE (2020-02-20) in VND ₫19200
Viet Nam Trade Distributors Industry PE Ratio Median Figure of 11 Publicly-Listed Trade Distributors Companies 10.04x
Viet Nam Market PE Ratio Median Figure of 386 Publicly-Listed Companies 9.41x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Thien Nam Trading - Import Export.

HOSE:TNA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= HOSE:TNA Share Price ÷ EPS (both in VND)

= 19200 ÷ 3,301.00

5.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thien Nam Trading - Import Export is good value based on earnings compared to the VN Trade Distributors industry average.
  • Thien Nam Trading - Import Export is good value based on earnings compared to the Viet Nam market.
Price based on expected Growth
Does Thien Nam Trading - Import Export's expected growth come at a high price?
Raw Data
HOSE:TNA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Trade Distributors Industry PEG Ratio Median Figure of 46 Publicly-Listed Trade Distributors Companies 1.45x
Viet Nam Market PEG Ratio Median Figure of 55 Publicly-Listed Companies 0.64x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Thien Nam Trading - Import Export, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Thien Nam Trading - Import Export's assets?
Raw Data
HOSE:TNA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in VND ₫16,189.02
HOSE:TNA Share Price * HOSE (2020-02-20) in VND ₫19200
Viet Nam Trade Distributors Industry PB Ratio Median Figure of 11 Publicly-Listed Trade Distributors Companies 0.63x
Viet Nam Market PB Ratio Median Figure of 405 Publicly-Listed Companies 0.99x
HOSE:TNA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= HOSE:TNA Share Price ÷ Book Value per Share (both in VND)

= 19200 ÷ 16,189.02

1.19x

* Primary Listing of Thien Nam Trading - Import Export.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Thien Nam Trading - Import Export is overvalued based on assets compared to the VN Trade Distributors industry average.
X
Value checks
We assess Thien Nam Trading - Import Export's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Trade Distributors industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Trade Distributors industry average (and greater than 0)? (1 check)
  5. Thien Nam Trading - Import Export has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Thien Nam Trading - Import Export expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Thien Nam Trading - Import Export has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.1%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Thien Nam Trading - Import Export expected to grow at an attractive rate?
  • Unable to compare Thien Nam Trading - Import Export's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Thien Nam Trading - Import Export's earnings growth to the Viet Nam market average as no estimate data is available.
  • Unable to compare Thien Nam Trading - Import Export's revenue growth to the Viet Nam market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
HOSE:TNA Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 6.1%
Asia Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Viet Nam Market Earnings Growth Rate Market Cap Weighted Average 15.3%
Viet Nam Market Revenue Growth Rate Market Cap Weighted Average 20.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
HOSE:TNA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in VND Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
HOSE:TNA Future Estimates Data
Date (Data in VND Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
HOSE:TNA Past Financials Data
Date (Data in VND Millions) Revenue Cash Flow Net Income *
2019-12-31 4,635,928 216,992 137,853
2019-09-30 4,399,529 -202,109 119,297
2019-06-30 4,265,885 -282,854 44,677
2019-03-31 4,072,693 -302,512 35,720
2018-12-31 4,019,048 -118,204 49,838
2018-09-30 4,090,866 8,511 59,993
2018-06-30 3,961,864 277,319 64,969
2018-03-31 4,239,696 224,917 65,630
2017-12-31 4,178,192 -58,613 80,418
2017-09-30 4,014,488 -46,231 49,510
2017-06-30 3,911,600 -105,074 67,905
2017-03-31 3,555,273 1,974 83,594

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Thien Nam Trading - Import Export is high growth as no earnings estimate data is available.
  • Unable to determine if Thien Nam Trading - Import Export is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
HOSE:TNA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Thien Nam Trading - Import Export Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HOSE:TNA Future Estimates Data
Date (Data in VND Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
HOSE:TNA Past Financials Data
Date (Data in VND Millions) EPS *
2019-12-31 3,301.00
2019-09-30 3,483.03
2019-06-30 1,304.42
2019-03-31 1,042.54
2018-12-31 1,455.14
2018-09-30 1,724.59
2018-06-30 1,875.57
2018-03-31 1,904.76
2017-12-31 2,347.99
2017-09-30 1,843.71
2017-06-30 2,528.73
2017-03-31 2,430.98

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Thien Nam Trading - Import Export will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Thien Nam Trading - Import Export is trading at Thien Nam Trading - Import Export'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Thien Nam Trading - Import Export's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Thien Nam Trading - Import Export's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Thien Nam Trading - Import Export has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Thien Nam Trading - Import Export performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Thien Nam Trading - Import Export's growth in the last year to its industry (Trade Distributors).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Thien Nam Trading - Import Export's year on year earnings growth rate has been positive over the past 5 years.
  • Thien Nam Trading - Import Export's 1-year earnings growth exceeds its 5-year average (176.6% vs 11.6%)
  • Thien Nam Trading - Import Export's earnings growth has exceeded the VN Trade Distributors industry average in the past year (176.6% vs -35.1%).
Earnings and Revenue History
Thien Nam Trading - Import Export's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Thien Nam Trading - Import Export Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

HOSE:TNA Past Revenue, Cash Flow and Net Income Data
Date (Data in VND Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4,635,927.84 137,852.72 87,810.73
2019-09-30 4,399,528.82 119,296.54 87,442.78
2019-06-30 4,265,885.06 44,677.26 79,104.74
2019-03-31 4,072,693.26 35,720.49 79,293.99
2018-12-31 4,019,047.64 49,838.01 76,392.34
2018-09-30 4,090,866.25 59,992.70 86,088.47
2018-06-30 3,961,863.77 64,969.22 86,223.88
2018-03-31 4,239,695.62 65,629.50 84,876.95
2017-12-31 4,178,191.92 80,418.04 91,391.21
2017-09-30 4,014,488.32 49,509.80 101,319.20
2017-06-30 3,911,600.24 67,904.83 111,646.36
2017-03-31 3,555,273.07 83,593.53 113,379.35
2016-12-31 3,482,081.20 75,087.54 108,314.92
2016-09-30 3,090,569.70 107,605.18 90,879.82
2016-06-30 2,995,581.87 87,374.51 78,687.25
2016-03-31 2,717,411.28 64,242.76 71,355.85
2015-12-31 2,330,620.82 46,746.86 66,461.08
2015-09-30 2,126,693.11 43,565.13 61,521.94
2015-06-30 1,932,573.05 42,758.91 60,961.05
2015-03-31 1,782,684.57 39,759.44 62,151.60
2014-12-31 1,633,899.79 32,831.14 56,528.90
2014-09-30 1,578,265.42 37,739.73 55,088.09
2014-06-30 1,585,997.60 33,033.68 53,182.96
2014-03-31 1,584,514.01 33,016.72 51,886.60
2013-12-31 1,585,474.04 34,742.94 52,928.45
2013-09-30 1,400,036.78 33,474.32 46,107.00
2013-06-30 1,331,581.13 37,927.33 44,893.58
2013-03-31 1,281,980.58 39,081.54 42,217.31

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Thien Nam Trading - Import Export has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Thien Nam Trading - Import Export used its assets more efficiently than the VN Trade Distributors industry average last year based on Return on Assets.
  • Thien Nam Trading - Import Export's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Thien Nam Trading - Import Export's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Trade Distributors industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Thien Nam Trading - Import Export has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Thien Nam Trading - Import Export's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Thien Nam Trading - Import Export's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Thien Nam Trading - Import Export is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Thien Nam Trading - Import Export's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Thien Nam Trading - Import Export's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Thien Nam Trading - Import Export Company Filings, last reported 1 month ago.

HOSE:TNA Past Debt and Equity Data
Date (Data in VND Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 565,416.52 937,747.48 137,027.73
2019-09-30 547,990.16 966,993.79 62,595.37
2019-06-30 440,979.56 959,852.28 69,633.22
2019-03-31 439,353.76 920,680.77 94,477.49
2018-12-31 442,429.46 981,368.83 77,147.32
2018-09-30 436,601.56 798,950.33 64,596.42
2018-06-30 425,668.13 666,337.84 71,472.09
2018-03-31 405,499.59 767,070.58 250,920.47
2017-12-31 416,777.12 751,779.03 18,370.20
2017-09-30 403,891.68 750,599.61 19,684.83
2017-06-30 387,111.22 844,022.10 33,003.59
2017-03-31 404,622.15 722,591.05 38,221.81
2016-12-31 376,728.06 692,319.71 36,527.13
2016-09-30 375,701.76 568,166.41 61,182.36
2016-06-30 327,057.11 694,742.82 119,413.29
2016-03-31 311,817.05 613,954.96 69,095.38
2015-12-31 298,140.55 629,006.35 96,183.20
2015-09-30 303,092.83 653,424.04 48,894.55
2015-06-30 289,715.65 626,809.77 32,741.69
2015-03-31 279,113.93 619,942.18 57,319.88
2014-12-31 278,494.10 609,086.34 57,252.65
2014-09-30 276,831.75 446,471.59 95,823.46
2014-06-30 265,743.44 471,231.82 104,071.94
2014-03-31 257,693.39 307,918.58 43,786.65
2013-12-31 261,675.46 366,948.03 53,998.40
2013-09-30 260,603.44 353,417.71 53,755.02
2013-06-30 254,239.12 281,112.56 79,691.13
2013-03-31 251,607.23 150,693.49 77,468.26
  • Thien Nam Trading - Import Export's level of debt (165.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (218.7% vs 165.9% today).
  • Debt is well covered by operating cash flow (23.1%, greater than 20% of total debt).
  • Thien Nam Trading - Import Export earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Thien Nam Trading - Import Export's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Thien Nam Trading - Import Export has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Thien Nam Trading - Import Export's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Thien Nam Trading - Import Export dividends.
If you bought ₫2,000 of Thien Nam Trading - Import Export shares you are expected to receive ₫0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Thien Nam Trading - Import Export's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Thien Nam Trading - Import Export's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
HOSE:TNA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Asia Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 238 Stocks 3.6%
Viet Nam Market Average Dividend Yield Market Cap Weighted Average of 237 Stocks 3.6%
Viet Nam Minimum Threshold Dividend Yield 10th Percentile 3.1%
Viet Nam Bottom 25% Dividend Yield 25th Percentile 4.6%
Viet Nam Top 25% Dividend Yield 75th Percentile 11.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

HOSE:TNA Future Dividends Estimate Data
Date (Data in ₫) Dividend per Share (annual) Avg. No. Analysts
HOSE:TNA Past Annualized Dividends Data
Date (Data in ₫) Dividend per share (annual) Avg. Yield (%)
2018-02-01 909.587 7.507
2017-09-13 969.984 7.221
2017-02-16 840.743 5.111
2016-10-11 603.915 3.228
2016-05-17 473.659 2.553
2016-02-04 473.659 4.267
2015-02-09 473.659 5.926
2014-11-04 473.659 7.163
2014-09-05 473.659 7.286
2014-02-13 473.659 7.302
2013-11-05 473.659 8.213
2013-09-06 473.659 9.359
2013-03-13 473.659 9.693
2013-02-08 473.659 11.599
2012-08-29 473.659 12.301
2012-03-02 544.708 12.416
2011-01-26 378.927 7.622

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Thien Nam Trading - Import Export has not reported any payouts.
  • Unable to verify if Thien Nam Trading - Import Export's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Thien Nam Trading - Import Export's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Thien Nam Trading - Import Export has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Thien Nam Trading - Import Export's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 3.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Thien Nam Trading - Import Export afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Thien Nam Trading - Import Export has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Thien Nam Trading - Import Export's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Thu Nguyen
TENURE AS CEO 1.7 years
CEO Bio

Mr. Nguyen Minh Thu has been Deputy Chief Executive Officer of Thien Nam Trading Import Export Corp. since June 19, 2018.

CEO Compensation
  • Insufficient data for Thu to compare compensation growth.
  • Insufficient data for Thu to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team

Pham Dat

TITLE
Chief Accountant
TENURE
0.9 yrs

Thu Nguyen

TITLE
Deputy Chief Executive Officer
TENURE
1.7 yrs

Hoan Ngo

TITLE
Director
Board of Directors

Quang Hoa Nguyen

TITLE
Chairman
TENURE
2.1 yrs

Hoa Nguyen

TITLE
Vice-Chairman

Hoan Ngo

TITLE
Director

Thai Ha Ho

TITLE
Director

Hiep Nguyen

TITLE
Director

Nguy?n Giang

TITLE
Director

Kieu Tran

TITLE
Member of the Board of Director

Nguyen Tuan

TITLE
Member of Control Committee

Tran Lieu

TITLE
Member of Control Committee
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₫) Value (₫)
X
Management checks
We assess Thien Nam Trading - Import Export's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Thien Nam Trading - Import Export has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Thien Nam Trading - Import Export Joint Stock Company, together with its subsidiaries, engages in trading steel products in Vietnam. The company operates as an agent for depositing technological products, food, foodstuff, equipment, wines, agricultural products, aquatic products, mechanic appliances, construction materials and interior decorations, fertilizers, insecticides, materials, machinery, and cosmetics, as well as means of transport. It also acts as an agent to deposit goods, as well as collects and processes agricultural and aquatic products for exporting; leases vehicles for tourism; and trades in iron and metal scraps. In addition, the company provides ship and car dismantling services, as well as car trading services; customs clearance and forwarding services; and trades in real estate. Further, it is involved in the wholesale of sugar, milk and dairy products, and confectionery; distribution of electrical machines; and develops services related to education. The company is headquartered in Ho Chi Minh City, Vietnam.

Details
Name: Thien Nam Trading - Import Export Joint Stock Company
TNA
Exchange: HOSE
Founded:
₫657,582,835,200
34,249,106
Website: http://www.tna.com.vn
Address: Thien Nam Trading - Import Export Joint Stock Company
111-121 Ngo Gia Tu street,
Ward 2,
Ho Chi Minh City,
Vietnam
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
HOSE TNA Ordinary Shares Ho Chi Minh Stock Exchange VN VND 26. Jul 2005
Number of employees
Current staff
Staff numbers
116
Thien Nam Trading - Import Export employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/20 15:27
End of day share price update: 2020/02/20 00:00
Last estimates confirmation: 2018/01/22
Last earnings filing: 2020/01/22
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.