BTP.VN Ba Ria Thermal Power JSC
- Market cap
- VND 399B
- P/E
- 6.3x
- P/B
- 0.37x
- ROE
- 2.7%
- Dividend yield
- 4.99%
- Fundamental score
- 2.3/5
Ratios use the latest price and the current fiscal year annualized from 1 quarter up to Jun 2026.
Is BTP.VN undervalued?
Graham numberThe Graham number of Ba Ria Thermal Power JSC cannot be estimated reliably (the estimate is too far from the market price).
Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?
Ba Ria Thermal Power JSC fundamental analysis
11 of 22 checks passedROE 0/2
Low return on equity (2.7%), below 10%.
ROA 0/1
Return on assets (2.4%) is below the industry median (10.9%).
Profit Consistency 2/2
Profitable for 7 consecutive years.
Earnings Growth 5Y 0/1
Earnings per share did not grow over the past 5 years.
Earnings Acceleration 0/1
Last year's EPS growth (-0.6%) is not above the 5-year average (-12.1% a year).
Earnings Growth vs Industry 0/1
Last year's EPS growth (-0.6%) is below the industry median (46.1%).
Revenue Growth 0/2
Revenue shrank 20.0% a year over the past 3 years.
Short-term Liquidity 1/1
Current assets cover short-term liabilities.
Long-term Liabilities 1/1
Current assets cover long-term liabilities.
Debt to Equity 2/2
Low debt to equity (2.0%), 40% or less.
Debt Trend 1/1
Debt to equity has not risen over the past 5 years.
Debt Coverage 0/1
Operating cash flow does not cover 20% of total debt.
Interest Coverage 0/1
EBIT is 2.4x against interest expense, below 5x.
PE vs Market 1/1
PE (6.3x) is below the market median (11.2x).
PE vs Industry 1/1
PE (6.3x) is below the industry median (9.2x).
PBV 1/1
Price to book (0.4x) is below the industry median (1.4x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 2.3, limit 22.5).
PEG 0/1
PEG needs positive PE and positive 5-year earnings growth.
Dividend Yield 1/2
Dividend yield (5.0%) is above the bottom 25% of dividend payers in the market.
Dividend Stability 0/2
Dividends were not paid steadily for the past 5 years.
Dividend Growth 0/1
Dividends paid did not grow over the past 5 years.
Payout Ratio 1/1
Payout ratio is 46.8%, covered by earnings.
Each check is worth 1 or 2 points by how much it says about the quality of the company. The score is the share of points earned, out of 5. Ask AI to explain this score
Ba Ria Thermal Power JSC stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Ba Ria Thermal Power JSC
Ba Ria Thermal Power Joint Stock Company engages in the production and trading of electricity in Vietnam. The company is involved in operation, maintenance, repair, testing, calibration, and refurbishment of electrical equipment; electrical constructions and bottled drinking water business under the POWERFUL brand. It also invests in the construction of power generation projects, generates and sells electricity; manages operations, maintenance, repair, and renovation of elec…
Full company profileBa Ria Thermal Power JSC financial statements
2026 annualized: Fiscal year 2026 is not finished. Income statement and cash flow are annualized from 1 quarter up to Jun 30, 2026, the balance sheet is the latest quarter. Figures change when the annual report is published.
Ba Ria Thermal Power JSC annual financial statements (VND; K = thousand, M = million, B = billion, T = trillion)
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Anlz |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 1.89T | 750B | 1.21T | 513B | 780B | 357B | 263B | 329B |
| Gross Profit | 197B | 93.6B | 67.3B | 32.8B | 12.5B | 13.5B | 47.1B | 50.7B |
| Operating Income | 169B | 64.7B | 36.4B | -1.20B | -24.9B | -26.4B | 5.03B | 8.90B |
| EBITDA | 272B | 147B | 199B | 133B | 132B | 101B | 101B | 54.4B |
| Net Income | 182B | 80.9B | 127B | 70.7B | 71.8B | 42.8B | 42.6B | 29.6B |
| EPS | 3,016 | 1,338 | 2,103 | 1,170 | 1,187 | 708 | 704 | 489 |
| Balance Sheet | ||||||||
| Total Assets | 2.00T | 1.71T | 1.91T | 1.60T | 1.46T | 1.27T | 1.22T | 1.21T |
| Total Liabilities | 770B | 486B | 634B | 356B | 255B | 208B | 142B | 123B |
| Shareholders' Equity | 1.23T | 1.22T | 1.28T | 1.24T | 1.20T | 1.06T | 1.08T | 1.09T |
| Cash & Short-term Investments | 85.0B | 202B | 105B | 138B | 123B | 89.3B | 86.5B | 83.5B |
| Cash Flow | ||||||||
| Operating Cash Flow | -176B | 312B | -98.7B | 15.8B | -17.7B | 85.0B | 46.0B | - |
| Capital Expenditure | 134B | 9.73B | 55.0B | 92.5B | 69.4B | 309M | 7.65B | 0.00 |
| Free Cash Flow | -310B | 303B | -154B | -76.0B | -87.1B | 84.7B | 38.3B | - |
| Ratios | ||||||||
| ROE | 14.9% | 6.6% | 10.0% | 5.7% | 6.0% | 4.0% | 4.0% | 2.7% |
| ROA | 9.1% | 4.7% | 6.7% | 4.4% | 4.9% | 3.4% | 3.5% | 2.4% |
| Net Profit Margin | 9.6% | 10.8% | 10.5% | 13.8% | 9.2% | 12.0% | 16.2% | 9.0% |
What these items mean
- Revenue
- Total sales of goods and services in the period.
- Gross Profit
- Revenue minus the direct cost of producing what was sold.
- Operating Income
- Profit from the core business after operating expenses.
- EBITDA
- Earnings before interest, taxes, depreciation and amortization.
- Net Income
- Profit left for shareholders after all expenses, interest and taxes.
- EPS
- Net income divided by shares outstanding.
- Total Assets
- Everything the company owns.
- Total Liabilities
- Everything the company owes.
- Shareholders' Equity
- Assets minus liabilities: the book value that belongs to shareholders.
- Cash & Short-term Investments
- Cash and investments that can be turned into cash quickly.
- Operating Cash Flow
- Cash generated by the core business.
- Capital Expenditure
- Cash spent on property, plant and equipment.
- Free Cash Flow
- Operating cash flow minus capital expenditure: cash left for dividends, buybacks or debt repayment.
- ROE
- Return on equity: net income divided by shareholders' equity.
- ROA
- Return on assets: net income divided by total assets.
- Net Profit Margin
- Net income as a share of revenue.
Ba Ria Thermal Power JSC dividends
- Dividend yield
- 4.99%
- Forward dividend
- 500.00 VND
- Payout ratio
- 46.8%
- Ex-dividend date
- Oct 9, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | VND 19.9B | 329 | 46.8% |
| 2024 | VND 197B | 3,255 | 459.8% |
| 2023 | VND 90.2B | 1,492 | 125.7% |
| 2022 | VND 90.4B | 1,495 | 127.8% |
| 2021 | VND 66.3B | 1,096 | 52.1% |
| 2020 | VND 66.2B | 1,094 | 81.7% |
| 2019 | VND 60.0B | 992 | 32.9% |
From the cash flow statement: dividends paid in the fiscal year, divided by that year's shares outstanding. Payout ratio = dividends paid / net income.
Who owns Ba Ria Thermal Power JSC
- Insiders 79.58%
- Institutions 4.92%
- Public & others 15.50%
- Shares outstanding 60.5M
- Free float 12.4M
Ba Ria Thermal Power JSC company profile
- Company name
- Ba Ria Thermal Power JSC
- Ticker
- BTP.VN
- ISIN
- VN000000BTP0
- Exchange
- Vietnam Stocks
- Sector
- Utilities
- Industry
- Utilities - Regulated Electric
- Employees
- 226
- Fiscal year end
- December
- Address
- Huong Giang Quarter, Ba Ria, Vietnam
- Phone
- 84 254 221 2811
- Website
- btp.com.vn
About Ba Ria Thermal Power JSC
Ba Ria Thermal Power Joint Stock Company engages in the production and trading of electricity in Vietnam. The company is involved in operation, maintenance, repair, testing, calibration, and refurbishment of electrical equipment; electrical constructions and bottled drinking water business under the POWERFUL brand. It also invests in the construction of power generation projects, generates and sells electricity; manages operations, maintenance, repair, and renovation of electrical equipment, hydraulic works, and architecture of hydropower plants. The company was founded in 1991 and is headquartered in Ba Ria, Vietnam. Ba Ria Thermal Power Joint Stock Company operates as a subsidiary of Power Generation Corporation 3.
Ba Ria Thermal Power JSC management
5- Mr. Dung Tien NguyenChairman of the Board · born 1953
- Mr. Huy Van LeCEO, Member of Management Board & Director
- Mr. Nhu VoDeputy CEO, Deputy GM & Member of Management Board
- Ms. Linh Thi Thuy PhanChief Accountant
- Mr. Trieu Hoang LeIn Charge of Administration Cum Secretary