PVA

Công ty Cổ phần Tổng Công ty Xây lắp Dầu khí Nghệ An

VietnamConstructionXây dựng và Vật liệuUPCOMCT

500

VND · Last close

No valuation yet

There is not enough data yet to estimate an intrinsic value for PVA.

Line item	2026	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
CURRENT ASSETS (Bn. VND)	·	434	434	445	380	414	436	441	454	528	459	1,022	1,304
Cash and cash equivalents (Bn. VND)	·	0.6	0.6	0.6	0.6	0.7	0.5	0.8	1	0.8	5	5	5
Short-term investments (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	244	217
Accounts receivable (Bn. VND)	·	376	376	387	322	356	351	353	357	430	361	531	502
Prepayments to suppliers (Bn. VND)	·	38	38	38	39	39	39	39	40	36	40	56	59
Net Inventories	·	57	57	57	57	57	84	86	93	94	91	203	534
Inventories, Net (Bn. VND)	·	57	57	57	57	57	84	86	93	94	91	203	534
Other current assets	·	0.1	0.1	0.1	0.1	0.1	1	1	3	3	3	40	45
Other current assets (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	28	27
LONG-TERM ASSETS (Bn. VND)	·	17	17	17	118	118	129	142	200	221	245	196	197
Long-term trade receivables (Bn. VND)	·	2	2	2	103	103	115	127	136	148	166	0	0
Other long-term receivables (Bn. VND)	·	0	0	0	0	2	2	2	136	148	166	0	0
Fixed assets (Bn. VND)	·	11	11	11	11	11	11	11	31	34	40	132	122
Tangible fixed assets	·	11	11	11	11	11	11	11	31	34	40	81	113
Intagible fixed assets	·	0	0	0	0	0	0	0	0.01	0.01	0.4	0.6	0.9
Investment in properties	·	0	0	0	0	0	0	0	0	0	0	14	9
Long-term investments (Bn. VND)	·	2	2	2	2	2	2	2	6	12	12	7	7
Investments in associate companies	·	2	2	2	2	2	2	2	1	12	12	7	7
Other long-term assets (Bn. VND)	·	0	0	0	0	0	0	0	5	0	0	0	0
Goodwill	·	0	0	0	0	0	0	0	0	0	0	16	20
Other non-current assets	·	0.7	0.7	0.7	0.7	0.7	0.7	0.7	25	26	26	27	40
Long-term prepayments (Bn. VND)	·	0.7	0.7	0.7	0.7	0.7	0.7	0.7	20	19	16	22	35
TOTAL ASSETS (Bn. VND)	·	451	451	462	497	532	566	583	654	749	704	1,218	1,501
LIABILITIES (Bn. VND)	·	486	486	496	532	566	598	615	682	713	705	1,184	1,450
Current liabilities (Bn. VND)	·	423	423	437	441	446	447	442	524	553	528	1,108	1,307
Short-term borrowings (Bn. VND)	·	18	18	31	35	39	40	44	61	78	85	103	152
Advances from customers (Bn. VND)	·	86	86	86	86	86	131	131	135	138	127	228	507
Long-term liabilities (Bn. VND)	·	62	62	60	91	120	151	174	158	159	177	76	143
Long-term borrowings (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	57	75
OWNER'S EQUITY(Bn.VND)	·	−35	−35	−35	−34	−34	−33	−33	−29	36	−0.4	25	41
Capital and reserves (Bn. VND)	·	−35	−35	−35	−34	−34	−33	−33	−29	36	−0.4	25	41
Paid-in capital (Bn. VND)	·	218	218	218	218	218	218	218	218	218	218	218	218
Other Reserves	·	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0	0.4	0.4	0.4	0.4
Investment and development funds (Bn. VND)	·	23	23	23	23	23	23	23	23	23	23	24	24
Undistributed earnings (Bn. VND)	·	−282	−282	−282	−282	−281	−280	−280	−277	−213	−250	−224	−208
Minority Interest	·	0	0	0	0	0	0	0	0	0	0	9	10
TOTAL RESOURCES (Bn. VND)	·	451	451	462	497	532	566	583	654	749	704	1,218	1,501
Short-term loans receivables (Bn. VND)	·	27	27	27	27	27	27	30	32	38	38	0	0
Long-term loans receivables (Bn. VND)	·	0	0	0	0	0	0	124	0	0	0	0	0
Common shares (Bn. VND)	·	218	218	218	218	218	218	218	218	218	218	218	218
Good will (Bn. VND)	·	0	0	0	0	0	0	0	5	7	10	0	0
MINORITY INTERESTS	·	0	0	0	0	0	0	0	1	2	2	0	0

Earnings Quality

Fiscal year 2024

Fair

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

Financial Forensics

Beneish M-Score · 2018

Remainder

M −2.35 · 44th pctile vs VN companies

YoY ▼ −6.39

Conservative vs VN peersUnusual accounting movement

Compare across the whole market

Ranked vs Vietnamese peers. The −1.78 Beneish cutoff is US-calibrated; ~28% of VN stocks exceed it.

DSRI

1.021

GMI

0.749

AQI

0.869

SGI

0.971

DEPI

1.000

SGAI

0.483

TATA

0.045

LVGI

0.945

Checks measured on Vietnamese companies · FY2024

Receivables outside the trade cyclePrepayments to suppliers, loans and other long-term receivables / total assets: 14.5%86th pctile
Accumulated losses / paid-in capitalUndistributed earnings below zero: 1.29×Statutory test met
Consecutive years of net lossProfit after tax of the parent: 6Statutory test met
Owner's equityWithout the non-controlling interest: NegativeStatutory test met

Percentiles rank each fiscal year against Vietnamese non-financial companies (0 lowest, 100 highest). Over FY2015-2024, low cash conversion and a large share of receivables outside the trade cycle came before more listing trouble and more net losses the next year.

Statutory loss tests (Decree 155/2020/NĐ-CP, Art. 120(1)(e), amended by Decree 245/2025/NĐ-CP): a HOSE or HNX listing is cancelled when the audited annual statements show net losses in each of the latest 3 years, accumulated losses above the paid-in charter capital, or negative owner's equity. Read here from the annual statements as the data vendor publishes them. The company trades on UPCoM, where these tests do not apply.

Quantitative Scores

F-Score

2/9

Weak

Z-Score

−0.83

Distress Zone

Sharpe

−0.47

Negative

Composite

Below 30

Piotroski F-Score Breakdown

✗Net Income > 0

✗Operating CF > 0

✗ROA Rising

✓OCF > Net Income

✗Lower Leverage

✗Better Liquidity

✓No Dilution

✗Margin Up

✗Turnover Up

DuPont Decomposition

Tax Burden1.00×Interest Burden1.00×Op. Margin−0.03×Turnover0.09×Leverage−15.68=ROE3.8%

Price Risk

Momentum

−37.5%

Volatility

80.7%

Max Drawdown

−60.0%

Key Ratios