Cash flow Tay Ninh Rubber

Stocks

TRC

VN000000TRC4

Tires & Rubber Products

End-of-day quote Ho Chi Minh S.E. Other stock markets 2026-07-24			5-day change	1st Jan Change
74,500.00 ^VND	-0.53%		-4.49%	-3.25%

07-20	Tay Ninh Rubber Joint Stock Company Changes Certificate of Business Registration	CI
07-16	Tay Ninh Rubber Joint Stock Company Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI

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Published financial data: TAY NINH RUBBER

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	417B	523B	563B	744B	844B
Total Revenues	417B	523B	563B	744B	844B
Cost of Goods Sold, Total	319B	417B	448B	473B	550B
Gross Profit	98.84B	107B	115B	271B	294B
Selling General & Admin Expenses, Total	36.96B	40.34B	53.19B	58.68B	106B
Other Operating Expenses	35.75M	46.65M	10.12M	14.96M	21.06M
Other Operating Expenses, Total	36.99B	40.39B	53.2B	58.7B	106B
Operating Income	61.85B	66.16B	61.62B	212B	188B
Interest Expense, Total	-6.28B	-12.13B	-15.94B	-10.52B	-340M
Interest And Investment Income	16.34B	6.33B	18.97B	18.08B	26.82B
Net Interest Expenses	10.05B	-5.79B	3.03B	7.56B	26.48B
Income (Loss) On Equity Invest.	341M	-190M	-6.67B	-11.7B	1.53B
Currency Exchange Gains (Loss)	-146M	1.53B	450M	712M	363M
Other Non Operating Income (Expenses)	41.42B	26.88B	15.47B	32.88B	53.86B
EBT, Excl. Unusual Items	114B	88.6B	73.9B	242B	270B
Gain (Loss) On Sale Of Investments	-255M	78.05M	18.34M	182M	13.79M
Gain (Loss) On Sale Of Assets	-	-	502M	-	-
Other Unusual Items	-	-	-	-	26.38M
EBT, Incl. Unusual Items	113B	88.67B	74.42B	242B	270B
Income Tax Expense	16.04B	13.68B	6.83B	20.54B	19.56B
Earnings From Continuing Operations	97.22B	74.99B	67.59B	221B	251B
Net Income to Company	97.22B	74.99B	67.59B	221B	251B
Net Income - (IS)	97.22B	74.99B	67.59B	221B	251B
Preferred Dividend and Other Adjustments	-	21.96B	-	-	-
Net Income to Common Incl Extra Items	97.22B	53.03B	67.59B	221B	251B
Net Income to Common Excl. Extra Items	97.22B	53.03B	67.59B	221B	251B
Per Share Items
Net EPS - Basic	3.34K	1.82K	2.32K	7.6K	8.52K
Basic EPS - Continuing Operations	3.34K	1.82K	2.32K	7.6K	8.52K
Basic Weighted Average Shares Outstanding	29.12M	29.12M	29.12M	29.12M	29.41M
Net EPS - Diluted	3.34K	1.82K	2.32K	7.6K	8.52K
Diluted EPS - Continuing Operations	3.34K	1.82K	2.32K	7.6K	8.52K
Diluted Weighted Average Shares Outstanding	29.12M	29.12M	29.12M	29.12M	29.41M
Normalized Basic EPS	2.44K	1.9K	1.59K	5.19K	5.74K
Normalized Diluted EPS	2.44K	1.9K	1.59K	5.19K	5.74K
Dividend Per Share	1.9K	1K	900	2.5K	3K
Payout Ratio	56.41	73.79	43.08	11.84	29.06
Supplemental Items
EBITDA	91.54B	105B	108B	266B	264B
EBITA	61.89B	66.19B	61.65B	212B	188B
EBIT	61.85B	66.16B	61.62B	212B	188B
EBITDAR	91.58B	105B	108B	-	-
Total Revenues (As Reported)	417B	523B	563B	744B	844B
Effective Tax Rate - (Ratio)	14.16	15.43	9.18	8.49	7.24
Total Current Taxes	16.04B	13.68B	6.83B	19.23B	19.86B
Total Deferred Taxes	-	-	-	1.32B	-305M
Normalized Net Income	70.95B	55.37B	46.19B	151B	169B
Interest on Long-Term Debt	6.28B	-	-	10.52B	340M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	4.25B	7.24B	8.29B	10.56B	9.14B
General and Administrative Expenses	32.71B	33.11B	44.89B	48.13B	96.82B
Net Rental Expense, Total	41.91M	31.43M	20.96M	-	-
Imputed Operating Lease Interest Expense	7.8M	11.77M	11.57M	-	-
Imputed Operating Lease Depreciation	34.11M	19.66M	9.38M	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	113B	75.88B	106B	260B	403B
Short Term Investments	-	-	-	-	78B
Total Cash And Short Term Investments	113B	75.88B	106B	260B	481B
Accounts Receivable, Total	253M	9.09B	6.11B	158M	186M
Other Receivables	7.1B	10.94B	5.71B	1.39B	12.03B
Total Receivables	7.35B	20.03B	11.82B	1.54B	12.22B
Inventory	69.9B	63.2B	49.83B	92.16B	143B
Prepaid Expenses	137M	89.98M	1.31B	1.58B	2.67B
Other Current Assets, Total	207B	218B	224B	232B	45.43B
Total Current Assets	397B	377B	393B	588B	684B
Gross Property Plant And Equipment	1,696B	1,762B	1,809B	1,878B	2,090B
Accumulated Depreciation	-296B	-332B	-371B	-424B	-527B
Net Property Plant And Equipment	1,400B	1,431B	1,438B	1,454B	1,563B
Long-term Investments	170B	169B	162B	151B	152B
Other Intangibles, Total	1.34B	1.31B	0	0	200M
Other Long-Term Assets, Total	6.19B	4.82B	2.53B	1.83B	2.22B
Total Assets	1,974B	1,983B	1,996B	2,194B	2,402B
Liabilities
Accounts Payable, Total	12.99B	11.16B	19.8B	2.35B	2.19B
Accrued Expenses, Total	87.56B	97.27B	95.5B	119B	116B
Short-term Borrowings	-	11.2B	-	-	-
Current Portion of Long-Term Debt	32.94B	37.62B	40.89B	9.8B	-
Current Income Taxes Payable	4.44B	4.24B	2.99B	7.23B	-
Unearned Revenue Current, Total	-	-	-	159M	1.44B
Other Current Liabilities	42.86B	39.77B	17.72B	141B	126B
Total Current Liabilities	181B	201B	177B	280B	245B
Long-Term Debt	233B	203B	169B	36.21B	-
Deferred Tax Liability Non Current	-	-	-	1.32B	1.01B
Other Non Current Liabilities	-	-	-	-	32.2B
Total Liabilities	414B	405B	346B	317B	278B
Common Stock, Total	300B	300B	300B	300B	300B
Additional Paid In Capital	-	-	-	-	18.57B
Retained Earnings	1,260B	1,246B	1,288B	1,460B	1,606B
Treasury Stock	-43.78B	-43.78B	-43.78B	-43.78B	-
Comprehensive Income and Other	43.84B	75.84B	106B	161B	199B
Total Common Equity	1,561B	1,578B	1,651B	1,877B	2,124B
Total Equity	1,561B	1,578B	1,651B	1,877B	2,124B
Total Liabilities And Equity	1,974B	1,983B	1,996B	2,194B	2,402B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	29.12M	29.12M	29.12M	29.12M	30M
ECS Total Common Shares Outstanding	29.12M	29.12M	29.12M	29.12M	30M
Book Value / Share	53.58K	54.18K	56.68K	64.44K	70.8K
Tangible Book Value	1,559B	1,577B	1,651B	1,877B	2,124B
Tangible Book Value Per Share	53.53K	54.13K	56.68K	64.44K	70.79K
Total Debt	266B	252B	210B	46.01B	0
Net Debt	153B	176B	103B	-214B	-481B
Debt Equivalent Oper. Leases	335M	251M	168M	-	-
Equity Method Investments, Total	37.87B	36.28B	29.61B	17.91B	19.44B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	11.09B	12.25B	12.98B	13.37B	13.65B
Inventories - Work In Process, Total	1.23B	3.41B	3.72B	22.51B	33.74B
Inventories - Finished Goods, Total	53.96B	41.37B	28.01B	52.51B	88.56B
Inventories - Others	3.62B	6.16B	5.11B	3.77B	6.81B
Buildings, Total	139B	144B	146B	150B	154B
Machinery, Total	152B	153B	149B	151B	159B
Full Time Employees	1.33K	1.3K	2.34K	2.49K	2.39K
Accumulated Allowance for Doubtful Accounts (Supple)	140M	140M	120M	120M	120M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	97.22B	74.99B	67.59B	221B	251B
Depreciation & Amortization - CF	29.65B	38.77B	46.19B	53.6B	76.39B
Amortization of Goodwill and Intangible Assets - (CF)	41.91M	31.43M	20.96M	-	-
Depreciation & Amortization, Total	29.69B	38.8B	46.21B	53.6B	76.39B
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	4.08M
(Gain) Loss From Sale Of Asset	-52.87B	-29.6B	-25.26B	-36.76B	-69.27B
(Gain) Loss on Sale of Investments - (CF)	255M	-78.05M	-18.34M	-182M	-13.79M
Other Operating Activities, Total	-46.79B	-10.77B	-39.51B	-24.68B	-1.44B
Change In Accounts Receivable	2.48B	-21.53B	4.56B	-1.31B	-6.75B
Change In Inventories	-21.13B	6.7B	13.84B	-42.34B	-50.6B
Change In Accounts Payable	-30.74B	-26.65B	10.13B	118B	7.63B
Change in Other Net Operating Assets	43.24B	1.45B	1.13B	-831M	-1.46B
Cash from Operations	21.34B	33.31B	78.67B	287B	205B
Capital Expenditure	-36.48B	-26.75B	-19.56B	-18.57B	-9.9B
Sale of Property, Plant, and Equipment	23.44B	22.25B	14.89B	34.3B	42.75B
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-78B
Other Investing Activities, Total	11.05B	11.64B	15.45B	21.42B	25.76B
Cash from Investing	-1.99B	7.14B	10.78B	37.14B	-19.38B
Long-Term Debt Issued, Total	-	11.2B	36.7B	-	-
Total Debt Issued	-	11.2B	36.7B	-	-
Long-Term Debt Repaid, Total	-4.81B	-33.7B	-85.76B	-170B	-46.82B
Total Debt Repaid	-4.81B	-33.7B	-85.76B	-170B	-46.82B
Issuance of Common Stock	-	-	-	-	62.41B
Common Dividends Paid	-54.84B	-55.34B	-29.12B	-26.21B	-72.82B
Common & Preferred Stock Dividends Paid	-54.84B	-55.34B	-29.12B	-26.21B	-72.82B
Cash from Financing	-59.65B	-77.84B	-78.18B	-196B	-57.22B
Foreign Exchange Rate Adjustments	-205M	632M	19.16B	25.73B	14.74B
Net Change in Cash	-40.51B	-36.75B	30.42B	154B	143B
Supplemental Items
Cash Interest Paid	6.28B	633M	16B	10.72B	396M
Cash Income Tax Paid (Refund)	20.84B	13.88B	8.14B	14.98B	29.2B
Levered Free Cash Flow	8.28B	33.28B	53.07B	255B	283B
Unlevered Free Cash Flow	12.21B	40.86B	63.03B	261B	283B
Change In Net Working Capital	19.66B	12.54B	2.13B	-93.68B	-99.2B
Net Debt Issued / Repaid	-4.81B	-22.5B	-49.06B	-170B	-46.82B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.95	2.09	1.94	6.33	5.11
Return on Total Capital	2.11	2.26	2.09	7.01	5.8
Return On Equity %	6.23	4.78	4.19	12.55	12.53
Return on Common Equity	6.23	3.38	4.19	12.55	12.53
Margin Analysis
Gross Profit Margin %	23.68	20.35	20.41	36.4	34.82
SG&A Margin	8.85	7.71	9.45	7.89	12.56
EBITDA Margin %	21.93	20.05	19.16	35.72	31.32
EBITA Margin %	14.82	12.65	10.96	28.52	22.26
EBIT Margin %	14.82	12.64	10.95	28.52	22.26
Income From Continuing Operations Margin %	23.29	14.33	12.01	29.74	29.7
Net Income Margin %	23.29	14.33	12.01	29.74	29.7
Net Avail. For Common Margin %	23.29	10.13	12.01	29.74	29.7
Normalized Net Income Margin	16.99	10.58	8.21	20.3	20.01
Levered Free Cash Flow Margin	1.98	6.36	9.43	34.23	33.53
Unlevered Free Cash Flow Margin	2.92	7.81	11.2	35.12	33.55
Asset Turnover
Asset Turnover	0.21	0.26	0.28	0.36	0.37
Fixed Assets Turnover	0.3	0.37	0.39	0.51	0.56
Receivables Turnover (Average Receivables)	2.23K	112.08	73.96	237.55	4.91K
Inventory Turnover (Average Inventory)	5.37	6.26	7.89	6.67	4.68
Short Term Liquidity
Current Ratio	2.19	1.87	2.22	2.1	2.8
Quick Ratio	0.66	0.48	0.67	0.94	2.02
Operating Cash Flow to Current Liabilities	0.12	0.17	0.44	1.03	0.84
Days Sales Outstanding (Average Receivables)	0.16	3.26	4.94	1.54	0.07
Days Outstanding Inventory (Average Inventory)	67.97	58.26	46.25	54.91	77.96
Average Days Payable Outstanding	10.47	10.74	13.02	7.86	1.33
Cash Conversion Cycle (Average Days)	57.67	50.77	38.16	48.58	76.7
Long Term Solvency
Total Debt/Equity	17.04	15.99	12.69	2.45	-
Total Debt / Total Capital	14.56	13.78	11.26	2.39	-
LT Debt/Equity	14.93	12.89	10.22	1.93	-
Long-Term Debt / Total Capital	12.75	11.12	9.07	1.88	-
Total Liabilities / Total Assets	20.96	20.41	17.31	14.46	11.57
EBIT / Interest Expense	9.85	5.46	3.87	20.17	552.24
EBITDA / Interest Expense	14.57	8.66	6.77	25.26	776.81
(EBITDA - Capex) / Interest Expense	8.77	6.45	5.54	23.5	747.72
Total Debt / EBITDA	2.9	2.4	1.94	0.17	-
Net Debt / EBITDA	1.67	1.68	0.96	-0.81	-1.82
Total Debt / (EBITDA - Capex)	4.83	3.23	2.37	0.19	-
Net Debt / (EBITDA - Capex)	2.78	2.26	1.17	-0.87	-1.89
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	15.47	25.39	7.49	32.25	13.39
Gross Profit, 1 Yr. Growth %	49.49	7.8	7.34	135.92	8.47
EBITDA, 1 Yr. Growth %	44.64	14.67	2.26	146.48	-0.58
EBITA, 1 Yr. Growth %	72.15	7.03	-7.51	244.34	-11.47
EBIT, 1 Yr. Growth %	72.04	6.98	-7.54	244.34	-11.47
Earnings From Cont. Operations, 1 Yr. Growth %	5.35	-22.86	-10.39	227.39	13.24
Net Income, 1 Yr. Growth %	5.35	-22.86	-10.39	227.39	13.24
Normalized Net Income, 1 Yr. Growth %	7.09	-21.95	-17.04	226.97	11.77
Diluted EPS Before Extra, 1 Yr. Growth %	49.63	-18.16	35.69	227.39	12.15
Accounts Receivable, 1 Yr. Growth %	106.68	3.5K	-32.95	-97.41	17.61
Inventory, 1 Yr. Growth %	43.34	-9.59	-21.74	84.97	54.91
Net Property, Plant and Equip., 1 Yr. Growth %	4.03	2.21	0.51	1.11	7.49
Total Assets, 1 Yr. Growth %	-0.44	0.43	0.66	9.91	9.47
Tangible Book Value, 1 Yr. Growth %	-0.07	1.12	4.67	13.7	13.16
Common Equity, 1 Yr. Growth %	-0.07	1.12	4.58	13.7	13.17
Cash From Operations, 1 Yr. Growth %	29.12	56.07	136.15	264.81	-28.54
Capital Expenditures, 1 Yr. Growth %	-25.15	-26.65	-26.87	-5.06	-46.73
Levered Free Cash Flow, 1 Yr. Growth %	27.28	301.79	60.06	380.04	11.05
Unlevered Free Cash Flow, 1 Yr. Growth %	74.87	234.67	54.74	314.6	8.34
Dividend Per Share, 1 Yr. Growth %	0	-47.37	-10	177.78	20
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	11.84	20.33	16.1	19.23	22.46
Gross Profit, 2 Yr. CAGR %	21.84	26.95	7.78	59.14	59.97
EBITDA, 2 Yr. CAGR %	24.6	28.78	8.54	58.76	56.54
EBITA, 2 Yr. CAGR %	39.72	35.69	-0.16	78.43	74.6
EBIT, 2 Yr. CAGR %	39.68	35.66	-0.18	78.43	74.6
Earnings From Cont. Operations, 2 Yr. CAGR %	8	-9.85	-16.62	71.28	92.54
Net Income, 2 Yr. CAGR %	8	-9.85	-16.62	71.28	92.54
Normalized Net Income, 2 Yr. CAGR %	7.36	-8.58	-19.31	64.7	91.17
Diluted EPS Before Extra, 2 Yr. CAGR %	20.5	-9.66	2.13	110.77	91.61
Accounts Receivable, 2 Yr. CAGR %	-87.39	762.34	391.7	-86.83	-82.56
Inventory, 2 Yr. CAGR %	11.71	13.84	-15.57	20.32	69.27
Net Property, Plant and Equip., 2 Yr. CAGR %	3.32	3.12	1.36	0.81	4.25
Total Assets, 2 Yr. CAGR %	0.16	-0.01	0.56	5.18	9.69
Tangible Book Value, 2 Yr. CAGR %	0.96	0.53	2.89	9.09	13.43
Common Equity, 2 Yr. CAGR %	0.96	0.52	2.85	9.04	13.43
Cash From Operations, 2 Yr. CAGR %	-25.4	41.96	91.98	193.51	61.46
Capital Expenditures, 2 Yr. CAGR %	-10.7	-25.9	-26.76	-16.68	-28.88
Levered Free Cash Flow, 2 Yr. CAGR %	114.59	126.14	153.11	177.19	130.89
Unlevered Free Cash Flow, 2 Yr. CAGR %	160.52	141.92	127.21	153.29	111.94
Dividend Per Share, 2 Yr. CAGR %	2.74	-27.45	-31.18	58.11	82.57
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.74	16.18	15.89	21.25	17.25
Gross Profit, 3 Yr. CAGR %	19.39	16.97	20.2	39.94	40.05
EBITDA, 3 Yr. CAGR %	23.39	21.2	19.44	42.66	35.83
EBITA, 3 Yr. CAGR %	27.99	27.81	19.69	50.82	41.26
EBIT, 3 Yr. CAGR %	28.02	27.79	19.68	50.82	41.26
Earnings From Cont. Operations, 3 Yr. CAGR %	-6.77	-3.46	-9.86	31.54	49.21
Net Income, 3 Yr. CAGR %	-6.77	-3.46	-9.86	31.54	49.21
Normalized Net Income, 3 Yr. CAGR %	38.99	-3.47	-11.33	28.64	44.73
Diluted EPS Before Extra, 3 Yr. CAGR %	-6.77	-7.48	1.33	50.59	70.79
Accounts Receivable, 3 Yr. CAGR %	-69.55	-16.96	268.33	-14.5	-72.68
Inventory, 3 Yr. CAGR %	10.04	4.1	0.72	9.65	30.89
Net Property, Plant and Equip., 3 Yr. CAGR %	3.17	2.95	2.24	1.28	2.99
Total Assets, 3 Yr. CAGR %	0.64	0.25	0.22	3.58	6.59
Tangible Book Value, 3 Yr. CAGR %	0.42	1.02	1.9	6.38	10.43
Common Equity, 3 Yr. CAGR %	0.41	1.01	1.87	6.34	10.4
Cash From Operations, 3 Yr. CAGR %	-19.28	-4.59	68.2	137.79	83.27
Capital Expenditures, 3 Yr. CAGR %	-25	-16.37	-26.23	-20.14	-28.22
Levered Free Cash Flow, 3 Yr. CAGR %	-32.99	164.49	101.28	213.3	104.34
Unlevered Free Cash Flow, 3 Yr. CAGR %	-23.74	183.21	108.22	177.65	90.84
Dividend Per Share, 3 Yr. CAGR %	-	-17.79	-22.05	9.58	44.22
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.57	5.25	9.77	17.39	18.47
Gross Profit, 5 Yr. CAGR %	9.99	-1.55	14.61	32.4	34.76
EBITDA, 5 Yr. CAGR %	10.61	0.59	17.22	35.15	33.09
EBITA, 5 Yr. CAGR %	12.44	-4.2	15.87	46.26	39.2
EBIT, 5 Yr. CAGR %	12.43	-4.21	15.89	46.26	39.2
Earnings From Cont. Operations, 5 Yr. CAGR %	6.91	-12.33	-10.84	21.56	22.11
Net Income, 5 Yr. CAGR %	6.91	-12.33	-10.84	21.56	22.11
Normalized Net Income, 5 Yr. CAGR %	20.9	-1.74	11.82	19.66	20.57
Diluted EPS Before Extra, 5 Yr. CAGR %	6.91	-14.5	-10.84	27.01	30.74
Accounts Receivable, 5 Yr. CAGR %	-39.24	-16.81	-7.36	-60.23	8.73
Inventory, 5 Yr. CAGR %	7.34	-4.54	-1.02	10.47	23.97
Net Property, Plant and Equip., 5 Yr. CAGR %	3.46	3.18	2.44	2.09	3.04
Total Assets, 5 Yr. CAGR %	2.4	1.59	0.61	2.2	3.91
Tangible Book Value, 5 Yr. CAGR %	1.39	0.42	1.4	4.18	6.36
Common Equity, 5 Yr. CAGR %	1.38	0.41	1.38	4.16	6.34
Cash From Operations, 5 Yr. CAGR %	-24.9	4.43	14.15	49.56	65.47
Capital Expenditures, 5 Yr. CAGR %	-19.85	-18.96	-25.71	-16.49	-27.3
Levered Free Cash Flow, 5 Yr. CAGR %	-16.19	-13.91	14.02	169.29	112.64
Unlevered Free Cash Flow, 5 Yr. CAGR %	-9.1	-10.14	18.02	170.67	109.7
Dividend Per Share, 5 Yr. CAGR %	4.84	-15.34	-	6.79	9.57