{"id":23959,"date":"2024-06-28T14:53:18","date_gmt":"2024-06-28T07:53:18","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&p=23959"},"modified":"2024-07-09T14:54:32","modified_gmt":"2024-07-09T07:54:32","slug":"gtjasvn_ctd-equity-report_buy_june2024_engver","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/","title":{"rendered":"GTJASVN_CTD Equity Report_BUY_June2024_engver"},"content":{"rendered":"\n\n\n
\n

INVESTMENT THESIS<\/strong><\/span><\/p>\n

1\/ The company’s position in the industry is strong with a significant backlog. <\/strong>We estimate that the backlog for 2024-2025 will continue to remain high, reaching approximately 26,000 billion VND.<\/span><\/p>\n

2\/ Solid revenue growth potential thanks to “redirecting” to the industrial park construction segment: <\/strong>The backlog rate of the industrial segment increased sharply from 10% in the period 2020-2022 to 35% in 2023 and is expected to reach 45% by the end of FY2025.<\/span><\/p>\n

3\/ Good financial potential helps increase competitiveness: <\/strong>CTD holds 2,382 billion VND in cash, equivalent to 11% of total assets (Q3.FY24 financial statements), the Loan\/Equity ratio reaches 0.13 times, among the lowest in the industry and help businesses increase their competitiveness when bidding.<\/span><\/p>\n

RECOMMENDATIONS<\/strong><\/span><\/p>\n

Using the FCFE method, we evaluate the target price of CTD stock at 83,500 VND\/share <\/strong>(upside 15% compared to the closing price on June 25, 2024), recommending BUY <\/strong>for CTD.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"author":31,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-23959","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"GTJASVN_CTD Equity Report_BUY_June2024_engver - GTJA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GTJASVN_CTD Equity Report_BUY_June2024_engver - GTJA\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT THESIS 1\/ The company’s position in the industry is strong with a significant backlog. We estimate that the backlog for 2024-2025 will continue to remain high, reaching approximately 26,000 billion VND. 2\/ Solid revenue growth potential thanks to “redirecting” to the industrial park construction segment: The backlog rate of the industrial segment increased sharply […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/\" \/>\n<meta property=\"og:site_name\" content=\"GTJA\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-09T07:54:32+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gtjai.com.vn\/#website\",\"url\":\"https:\/\/gtjai.com.vn\/\",\"name\":\"GTJA\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/gtjai.com.vn\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/#webpage\",\"url\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/\",\"name\":\"GTJASVN_CTD Equity Report_BUY_June2024_engver - GTJA\",\"isPartOf\":{\"@id\":\"https:\/\/gtjai.com.vn\/#website\"},\"datePublished\":\"2024-06-28T07:53:18+00:00\",\"dateModified\":\"2024-07-09T07:54:32+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/gtjai.com.vn\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GTJASVN_CTD Equity Report_BUY_June2024_engver\"}]}]}<\/script>","yoast_head_json":{"title":"GTJASVN_CTD Equity Report_BUY_June2024_engver - GTJA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/","og_locale":"en_US","og_type":"article","og_title":"GTJASVN_CTD Equity Report_BUY_June2024_engver - GTJA","og_description":"INVESTMENT THESIS 1\/ The company’s position in the industry is strong with a significant backlog. We estimate that the backlog for 2024-2025 will continue to remain high, reaching approximately 26,000 billion VND. 2\/ Solid revenue growth potential thanks to “redirecting” to the industrial park construction segment: The backlog rate of the industrial segment increased sharply […]","og_url":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/","og_site_name":"GTJA","article_modified_time":"2024-07-09T07:54:32+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/gtjai.com.vn\/#website","url":"https:\/\/gtjai.com.vn\/","name":"GTJA","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gtjai.com.vn\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/#webpage","url":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/","name":"GTJASVN_CTD Equity Report_BUY_June2024_engver - GTJA","isPartOf":{"@id":"https:\/\/gtjai.com.vn\/#website"},"datePublished":"2024-06-28T07:53:18+00:00","dateModified":"2024-07-09T07:54:32+00:00","breadcrumb":{"@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_ctd-equity-report_buy_june2024_engver\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/gtjai.com.vn\/en\/"},{"@type":"ListItem","position":2,"name":"GTJASVN_CTD Equity Report_BUY_June2024_engver"}]}]}},"_links":{"self":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/23959\/"}],"collection":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/"}],"about":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/types\/research\/"}],"author":[{"embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/users\/31\/"}],"wp:attachment":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/media\/?parent=23959"}],"wp:term":[{"taxonomy":"cate_research","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/cate_research\/?post=23959"},{"taxonomy":"specialized","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/specialized\/?post=23959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}