Compare VICEM But Son Cement JSC with Similar Stocks
Dashboard
1
Weak Long Term Fundamental Strength with an average Return on Capital Employed (ROCE) of 2.50%
- Poor long term growth as Net Sales has grown by an annual rate of -3.80% and Operating profit at -187.25% over the last 5 years
- The company is Net-Debt Free
2
With ROE of -7.73%, it has a risky valuation with a 0.61 Price to Book Value
3
Underperformed the market in the last 1 year
Stock DNA
Building Products
VND 642,511 Million (Small Cap)
NA (Loss Making)
NA
0.00%
0.99
-0.27%
0.58
Revenue and Profits:
Net Sales:
608,043 Million
(Quarterly Results - Mar 2026)
Net Profit:
3,044 Million
Total Returns (Price + Dividend) 
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
-1.89%
0%
-1.89%
6 Months
4.0%
0%
4.0%
1 Year
-5.45%
0%
-5.45%
2 Years
-17.46%
0%
-17.46%
3 Years
-48.0%
0%
-48.0%
4 Years
-25.71%
0%
-25.71%
5 Years
30.63%
0%
30.63%
VICEM But Son Cement JSC for the last several years.
Risk Adjusted Returns v/s 
News
No Recent News for the Company
Announcements 
No announcement available
Corporate Actions 
No corporate action available
Quality key factors 
Factor
Value
Sales Growth (5y)
-3.80%
EBIT Growth (5y)
-187.25%
EBIT to Interest (avg)
0.45
Debt to EBITDA (avg)
4.96
Net Debt to Equity (avg)
1.09
Sales to Capital Employed (avg)
1.14
Tax Ratio
0
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
0
ROCE (avg)
2.50%
ROE (avg)
1.71%
Valuation key factors
Factor
Value
P/E Ratio
NA (Loss Making)
Industry P/E
Price to Book Value
0.61
EV to EBIT
-24.12
EV to EBITDA
10.17
EV to Capital Employed
0.80
EV to Sales
0.65
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
-3.32%
ROE (Latest)
-7.73%
Technicals key factors
Indicator
Weekly
Monthly
MACD
Mildly Bullish
Mildly Bullish
RSI
Bearish
No Signal
Bollinger Bands
Mildly Bearish
Mildly Bearish
Moving Averages
Mildly Bearish (Daily)
KST
Bearish
Mildly Bullish
Dow Theory
No Trend
No Trend
OBV
No Trend
Mildly Bullish
Shareholding Snapshot
No data for shareholding present.
Shareholding Compare (%holding) 
No data for shareholding present.
Quarterly Results Snapshot (Consolidated) - Mar'26 - QoQ
Mar'26
Dec'25
Change(%)
Net Sales
608,042.60
848,690.60
-28.36%
Operating Profit (PBDIT) excl Other Income
69,972.60
91,980.50
-23.93%
Interest
17,870.50
16,335.70
9.40%
Exceptional Items
0.00
0.00
Consolidate Net Profit
3,043.60
37,637.20
-91.91%
Operating Profit Margin (Excl OI)
19.90%
40.10%
-2.02%
USD in Million.
Net Sales
QoQ Growth in quarter ended Mar 2026 is -28.36% vs 62.65% in Dec 2025
Consolidated Net Profit
QoQ Growth in quarter ended Mar 2026 is -91.91% vs 273.75% in Dec 2025
Annual Results Snapshot (Consolidated) - Dec'25
Dec'25
Dec'24
Change(%)
Net Sales
2,656,580.40
2,609,613.60
1.80%
Operating Profit (PBDIT) excl Other Income
268,871.60
53,463.00
402.91%
Interest
64,893.40
74,328.80
-12.69%
Exceptional Items
0.00
0.00
Consolidate Net Profit
31,599.20
-201,794.90
115.66%
Operating Profit Margin (Excl OI)
13.60%
-68.80%
8.24%
USD in Million.
Net Sales
YoY Growth in year ended Dec 2025 is 1.80% vs 1.41% in Dec 2024
Consolidated Net Profit
YoY Growth in year ended Dec 2025 is 115.66% vs -109.65% in Dec 2024
About VICEM But Son Cement JSC 
VICEM But Son Cement JSC
Building Products
VICEM ButSon Cement Joint Stock Company (BUSOCO) , formerly But Son Cement Joint Stock Company, is a Vietnam-based cement manufacturer. The Company mainly manufactures and markets cement, clinker, and related products for construction purposes. Main products include Portland cement blended of different grades. It is also involved in the provision of transportation services via ground-way, domestic water-way and deep sea, as well as sea port and river port uploading and unloading services. Moreover, it is active in the provision of mechanical repair and maintenance services, real estate trading, the operation of hotels and restaurants, as well as the provision of construction consultancy services. The Company is a subsidiary of Vietnam Cement Industry Corporation (VICEM).
Company Coordinates 
Company Details
Xa Thanh Son, huyen Kim Bang , HA NAM None : None
Registrar Details






