Dashboard
1
Flat results in Mar 26
- NET SALES(Q) At VND 72,984.93 MM has Fallen at -18.77%
- RAW MATERIAL COST(Y) Grown by 34.46% (YoY)
- CASH AND EQV(HY) Lowest at VND 12,452.93 MM
2
With ROE of 4.29%, it has a very attractive valuation with a 0.00 Price to Book Value
3
Consistent Underperformance against the benchmark over the last 3 years
Total Returns (Price + Dividend) 
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
2.7%
0%
2.7%
6 Months
0%
0%
0.0%
1 Year
-25.49%
0%
-25.49%
2 Years
-41.54%
0%
-41.54%
3 Years
-45.71%
0%
-45.71%
4 Years
-55.29%
0%
-55.29%
5 Years
-43.28%
0%
-43.28%
Ninh Binh Thermal Power 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)
-15.52%
EBIT Growth (5y)
-25.14%
EBIT to Interest (avg)
100.00
Debt to EBITDA (avg)
0.29
Net Debt to Equity (avg)
-0.04
Sales to Capital Employed (avg)
3.16
Tax Ratio
0
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
0
ROCE (avg)
6.96%
ROE (avg)
7.02%
Valuation key factors
Factor
Value
P/E Ratio
Industry P/E
Price to Book Value
NA
EV to EBIT
0.32
EV to EBITDA
0.12
EV to Capital Employed
0.01
EV to Sales
0.01
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
4.16%
ROE (Latest)
4.29%
Technicals key factors
Indicator
Weekly
Monthly
MACD
Mildly Bullish
Mildly Bullish
RSI
No Signal
Bullish
Bollinger Bands
Sideways
Bearish
Moving Averages
Mildly Bearish (Daily)
KST
Mildly Bullish
Bearish
Dow Theory
No Trend
Mildly Bullish
OBV
No Trend
No Trend
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
72,984.90
40,942.70
78.26%
Operating Profit (PBDIT) excl Other Income
11,496.70
3,147.70
265.24%
Interest
101.20
0.00
Exceptional Items
0.00
0.00
Consolidate Net Profit
7,176.40
-816.00
979.46%
Operating Profit Margin (Excl OI)
99.70%
-26.40%
12.61%
USD in Million.
Net Sales
QoQ Growth in quarter ended Mar 2026 is 78.26% vs -73.35% in Dec 2025
Consolidated Net Profit
QoQ Growth in quarter ended Mar 2026 is 979.46% vs 35.07% in Dec 2025
Annual Results Snapshot (Consolidated) - Dec'25
Dec'25
Dec'24
Change(%)
Net Sales
359,377.90
1,160,602.80
-69.04%
Operating Profit (PBDIT) excl Other Income
22,199.90
7,800.00
184.61%
Interest
0.00
2,503.00
-100.00%
Exceptional Items
0.00
0.00
Consolidate Net Profit
5,513.20
-13,109.80
142.05%
Operating Profit Margin (Excl OI)
14.60%
-8.20%
2.28%
USD in Million.
Net Sales
YoY Growth in year ended Dec 2025 is -69.04% vs 23.16% in Dec 2024
Consolidated Net Profit
YoY Growth in year ended Dec 2025 is 142.05% vs -251.75% in Dec 2024
About Ninh Binh Thermal Power JSC 
Ninh Binh Thermal Power JSC
Power
Ninh Binh Thermal Power Joint-Stock Company is a Vietnam-based company engaged in the electric utilities industry. It operates a thermal power plant and generates electricity for sale. The Company also produces chemicals, such as calcium carbide and concrete additives. In addition, it manages, operates, maintains, repairs, experiments and adjusts electric, thermal and mechanical power equipment and plant projects; installs electricity cable networks and transformers. Other activities include the wholesale of industrial machinery and equipment, as well as the provision of human resource training services on the management, operation, maintenance and repair of equipment of electric power plants. The Company announces that POWER GENERATION CORPORATION 3 (EVNGENCO 3) has completed the acquisition of 54.76% stake in the Company on December 20, 2013.






