ANNUAL REPORT 2024
TOGETHER IN BELIEF, LEADING IN INNOVATION
086
087
Assets and Capital Structure
Key Financial Indicators
Source: An Cuong
2023
2024
By the end of 2024, the Company's total assets remained above the VND 5,000 billion threshold, reaching VND 5,639.6 billion, an increase of 2.1% compared to end of 2023. Short-term assets accounted for 73.1% of the total, while long-term assets made up 26.9%. Additionally, the Company upheld a prudent and secure financing structure, maintaining a low debt-to-equity ratio of 0.17 times, entirely comprised of short-term borrowings allocated to fund working capital needs. Liquidity ratios also remained robust. As of December 31, 2024, cash and cash equivalents, along with short-term financial investments (primarily term deposits), totaled over VND 2,458.7 billion, representing 43.6% of total assets.
Indicators
Unit
Separate
Consolidated
Separate
Consolidated
Liquidity ratios
times
Current ratio
3.1
2.9
2.8
2.8
Total assets reached VND 5,639.6 billion
times
Quick ratio
2.5
2.1
2.5
2.2
2.1% compared to 2023
Capital Structure ratios
times
Debt to Assets ratio
0.1
0.1
0.1
0.1
times
Debt to Equity ratio
0.1
0.2
0.1
0.2
Operating Efficiency ratios
times
Total Asset turnover
0.7
0.7
0.5
0.7
73.1%
26.9%
0.17 times Low debt-to-equity ratio
Net Revenue/Average Total Assets
Short-term assets
Long-term assets
times
Working Capital turnover
0.9
0.9
0.9
1.0
Net Revenue / Average Short-term Assets
times
Inventory turnover
3.0
2.0
3.3
2.6
Total Assets and Owners’ Equity during 2020 – 2024
Profitability ratios
Source: An Cuong
%
Gross margin
25.1%
29.4%
27.1%
31.4%
VNDbn
%
Operating margin
25.0%
14.1%
25.3%
14.4%
5500
%
Net margin
21.9%
10.9%
21.4%
10.5%
5000
4500
%
ROE
14.3%
10.1%
13.2%
10.1%
4000
%
ROA
11.5%
7.4%
10.4%
7.4%
3500
VND
EPS
2,437
2,785
3000
2000 2500
2020
2021
2022
2023
2024
Owner’s equity
Total assets
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