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Viettel Post JSC (STC:VTP) Piotroski F-Score : 3 (As of Apr. 04, 2025)


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What is Viettel Post JSC Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Viettel Post JSC has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Viettel Post JSC's Piotroski F-Score or its related term are showing as below:

STC:VTP' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 5
Current: 3

During the past 7 years, the highest Piotroski F-Score of Viettel Post JSC was 5. The lowest was 3. And the median was 5.


Viettel Post JSC Piotroski F-Score Historical Data

The historical data trend for Viettel Post JSC's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Viettel Post JSC Piotroski F-Score Chart

Viettel Post JSC Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial N/A 4.00 5.00 5.00 3.00

Viettel Post JSC Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 6.00 N/A N/A 3.00

Competitive Comparison of Viettel Post JSC's Piotroski F-Score

For the Integrated Freight & Logistics subindustry, Viettel Post JSC's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Viettel Post JSC's Piotroski F-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Viettel Post JSC's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Viettel Post JSC's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 58457.277 + 93156.19 + 106933.196 + 130389.875 = ₫388,937 Mil.
Cash Flow from Operations was -228808.04 + -135742.436 + -338291.838 + 571747.966 = ₫-131,094 Mil.
Revenue was 4674075.866 + 4944620.203 + 5430274.593 + 5707195.285 = ₫20,756,166 Mil.
Gross Profit was 166826.258 + 229811.013 + 278152.03 + 343964.139 = ₫1,018,753 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(6439394.157 + 6490355.548 + 7065032.685 + 5973915.021 + 6363556.558) / 5 = ₫6466450.7938 Mil.
Total Assets at the begining of this year (Dec23) was ₫6,439,394 Mil.
Long-Term Debt & Capital Lease Obligation was ₫72,503 Mil.
Total Current Assets was ₫4,728,456 Mil.
Total Current Liabilities was ₫4,676,144 Mil.
Net Income was 75739.901 + 97692.422 + 102529.791 + 106915.954 = ₫382,878 Mil.

Revenue was 4772058.397 + 4918827.158 + 4792231.414 + 5104404.836 = ₫19,587,522 Mil.
Gross Profit was 176540.925 + 235861.424 + 223674.183 + 245471.45 = ₫881,548 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(5734637.711 + 5247725.293 + 0 + 0 + 6439394.157) / 5 = ₫5807252.387 Mil.
Total Assets at the begining of last year (Dec22) was ₫5,734,638 Mil.
Long-Term Debt & Capital Lease Obligation was ₫40,791 Mil.
Total Current Assets was ₫5,500,056 Mil.
Total Current Liabilities was ₫4,801,780 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Viettel Post JSC's current Net Income (TTM) was 388,937. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Viettel Post JSC's current Cash Flow from Operations (TTM) was -131,094. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec23)
=388936.538/6439394.157
=0.06039955

ROA (Last Year)=Net Income/Total Assets (Dec22)
=382878.068/5734637.711
=0.06676587

Viettel Post JSC's return on assets of this year was 0.06039955. Viettel Post JSC's return on assets of last year was 0.06676587. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Viettel Post JSC's current Net Income (TTM) was 388,937. Viettel Post JSC's current Cash Flow from Operations (TTM) was -131,094. ==> -131,094 <= 388,937 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=72502.614/6466450.7938
=0.01121212

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=40790.712/5807252.387
=0.0070241

Viettel Post JSC's gearing of this year was 0.01121212. Viettel Post JSC's gearing of last year was 0.0070241. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec24)=Total Current Assets/Total Current Liabilities
=4728456.492/4676144.434
=1.01118701

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=5500055.891/4801780.218
=1.14542017

Viettel Post JSC's current ratio of this year was 1.01118701. Viettel Post JSC's current ratio of last year was 1.14542017. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Viettel Post JSC's number of shares in issue this year was 121.783. Viettel Post JSC's number of shares in issue last year was 121.783. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1018753.44/20756165.947
=0.04908197

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=881547.982/19587521.805
=0.04500559

Viettel Post JSC's gross margin of this year was 0.04908197. Viettel Post JSC's gross margin of last year was 0.04500559. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec23)
=20756165.947/6439394.157
=3.22331037

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=19587521.805/5734637.711
=3.41565113

Viettel Post JSC's asset turnover of this year was 3.22331037. Viettel Post JSC's asset turnover of last year was 3.41565113. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+0+0+0+0+0+1+1+0
=3

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Viettel Post JSC has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Viettel Post JSC  (STC:VTP) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Viettel Post JSC Piotroski F-Score Related Terms

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Viettel Post JSC Business Description

Traded in Other Exchanges
N/A
Address
Km 2, Thang Long Boulevard, N2 Building, Me Tri Ward, Nam Tu Liem District, Hanoi, VNM
Viettel Post JSC is a provider of domestic and international parcel courier services in Vietnam.

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