MINISTRY OF EDUCATION & TRAINING

DUY TAN UNIVERSITY

-------------------------------

Individual Report Presentation

PHU NHUAN JEWLRY JONT STOCK COMPANY (PNJ)

Name : DUONG THI

THANH TRUC
ID :28204603035
Class : FIN 301 X
BALANCE SHEET AND FINANCIAL REPORT 2023
2. RATIO ANALYSIS
Ratio Formula and Computation Implication and
Analysis
A. Liquidity
Ratios
1. Current =Current Assets/Current Liabilities The current ratio is
Ratio =12,958,118,192,260/4,611,956,609,380 2.81. This means
=2.81. the company has
2.81 units of current
assets for every 1
unit of current
liabilities,
indicating a strong
ability to cover
short-term debts.
2. Quick =Quick Assets/current Liabilities The adjusted ratio is
Asset Ratio = approximately 0.44.
(12,958,118,192,260-10,940,937,959,289)/4,611,956,609,38 This indicates that
0 after the
=0.44 adjustment, the
company has only
0.44 units of assets
for every 1 unit of
liabilities,
suggesting potential
liquidity challenges
in covering short-
term debts.
B.Asset
Management
Ratios
1.Accounts =Net Credit Sales/Net Accounts Receivable
Receivable
turnover
2. Average ######
Collection
3. Inventory Net Sales/ Inventories
turnover ratio
4. Days sales =365 days/ Inventory turnover ratio =Net Receivables /
in inventory Average sales per day
turnover ratio = Net Receivables /( Annual sales/365
5.Fixed =Net Sales/ Net Fixed Assets This means that in
Assets =33,136,929,196,429/1,794,308,269,291 2023, every 1 dong
Turnover =18.47 of fixed assets
Ratio generates 18.47
dongs in revenue,
indicating that the
company utilizes its
fixed assets very
effectively.
6. Total Asset =Net Sales/ Total Assets This means that in
Turnover ratio = 33,136,929,196,429/14,828,858,095,876 2023, every 1 dong
=2.23 of assets generated
2.23 dongs in
 revenue, reflecting
the company's asset
utilization
efficiency.
C. Debt
Utilization
Ratio
1. Total Debt =Total liabilities / (Total liabilities + Equity) This means that
to Total =5,034,350,442,148/ approximately
Capital (5,034,350,442,148+9,794,507,653,728) 33.95% of the
(Capital or =0.3395 company's total
equity) =33.95% capital comes from
debt, while the
remaining portion is
equity, indicating
that the company
has a relatively safe
financial structure..
2. Times =EBIT / Interest expense This means that the
Interest =2,546,319,567,353/102,505,183,927 company can cover
Earned Ratio =24.84 its interest expenses
24.84 times with its
earnings before
interest and taxes,
indicating a very
strong ability to pay
interest.
3. Long-Term Long term liabilities / (Long-term liabilities + Equity) This shows that the
Debt to =422,393,832,768/(422,393,832,768 +9,794,507,653,728) majority of the
Equity =4.13%. company's capital
comes from equity,
with only 4.13%
coming from long-
term debt, reflecting
low financial risk
and a safe capital
structure.
D.
Profitability
Ratio
1. Profit =Net income / Net Sales This means that for
margin (Net =2,010,051,433,170/33,136,929,196,429 every 100 dong in
profit Margin) =6.07%. revenue, the
company earns 6.07
dong in net profit,
indicating a fairly
stable profitability.
2. Gross =Gross profit / Net Sales This means that for
margin ratio =8,275,971,513,570/33,136,929,196,429 every 100 dong in
=24.98%. revenue, the
company retains
24.98 dong in gross
profit after
deducting the cost
of goods sold,
 indicating a fairly
good profit margin.
3. Operating =EBIT / Net sales Điều này có nghĩa
margin ratio =2,546,319,567,353/33,136,929,196,429 là cứ mỗi 100 đồng
=7.68%. doanh thu, công ty
tạo ra 7.68 đồng lợi
nhuận từ hoạt
động kinh doanh,
phản ánh hiệu quả
hoạt động của công
ty.
4. Return on =Net income / Total assets This means that for
total Assets =2,010,051,433,170/14,828,858,095,876 every 100 dong in
(ROA) or =13.55% revenue, the
investment company generates
7.68 dong in profit
from its business
operations,
reflecting the
company's
operational
efficiency.
5. Return on =Net Income / Common Equity Điều này có nghĩa
Common =2,010,051,433,170/9,794,507,653,728 là cứ mỗi 100 đồng
Equity (ROE) =20.52%. vốn chủ sở hữu,
công ty tạo ra 20.52
đồng lợi nhuận,
cho thấy khả năng
sinh lời của cổ đông
ở mức rất tốt.
6. Return on =Earnings After Tax / Total Invested Capita This means that the
Invested = 2,010,051,433,170/14,828,858,095,876 company generates
Capital =13.55% approximately
(ROIC) *Total Invested Capital = 5,034,350,442,148 + 13.55 dong in net
9,794,507,653,728 profit for every 100
dong of invested
capital, indicating a
fairly effective
return on invested
capital.
7. Basic =EBIT / Total Assets This means that for
Earning =2,546,319,567,35/14,828,858,095,876 every 100 dong of
Power (BEP) =17.17%. assets, the company
Ratio generates 17.17
dong of EBIT,
reflecting the
profitability of the
assets before
deducting interest
and taxes.
E. Market
Value Ratio
1. Price per share / Earnings per share (EPS)
Price/Earnings
(P/E) Ratio
 2. Market or =Common equity / Shares outstanding This indicates that
Book Value =9,794,507,653,728/311,963,361 each share
per Share =31,396.34 VND. represents a book
value of 31,396.34
VND for the
company..
3. Market price per share / Book value per share
Market/Book
(M/B) Ratio

2. RATIO ANALYSIS
Ratio Formula and Computation Implication and Analysis
A. Liquidity Ratios
1. Current Ratio =Current Assets/Current Liabilities This means that the
=15,692,597,267,632/5,941,881,733,413 company has 2.64 VND of
=2.64 current assets for every 1
VND of current liabilities,
indicating a fairly good
ability to pay short-term
debts.
2. Quick Asset Ratio =Quick Assets/current Liabilities Điều này có nghĩa là công
=2,677,426,790,321/5,941,881,733,413 ty có 0.45 VND tài sản
=0.45 nhanh (không bao gồm
*Quick Assets=Current Assets−Inventorie hàng tồn kho) cho mỗi 1
s VND nợ ngắn hạn. Hệ số
này dưới 1, cho thấy công ty
có thể gặp khó khăn trong
việc thanh toán nợ ngắn hạn
nếu chỉ dựa vào tài sản
nhanh.
B.Asset Management
Ratios
1.Accounts Receivable =Net Credit Sales/Net Accounts Điều này có nghĩa là công
turnover Receivable ty thu hồi khoản phải thu
=37,622,032,932,609/1,598,493,452,788 trung bình khoảng 23.54 lần
=23.54 trong năm. Đây là dấu hiệu
tốt cho thấy công ty có khả
năng thu hồi công nợ nhanh
 chóng.
2. Average Collection 365/ Accounts Receivable Turnover Điều này có nghĩa là công
=365/23.54 ty trung bình mất khoảng
= 15.51 ngay 15.5 ngày để thu hồi các
khoản phải thu. Đây là dấu
hiệu tốt, cho thấy công ty có
chính sách thu hồi công nợ
hiệu quả.
3. Inventory turnover ratio Net Sales/ Inventories This means the company
=37,622,032,932,609/13,015,170,477,311 cycles through its inventory
=2.89 about 2.89 times per year
4. Days sales in inventory =365 days/ Inventory turnover ratio
turnover ratio =(=Average Inventory/COGS)×365
11,978,054,218,300/31,149,334,531,193
)×365≈140.32 ngaˋy
=
5.Fixed Assets Turnover Net Sales/ Net Fixed Assets
Ratio =37,822,837,171,385/857,118,818,527
=44.13
6. Total Asset Turnover ratio Net Sales/ Total Assets

 Net Sales = Doanh thu thuần

= 38,232,401,184,050 − 409,564,012,665
= 37,822,837,171,385 VND

 Total Assets = 17,207,730,777,685

VND

=2.20
C. Debt Utilization Ratio
1. Total Debt to Total Total liabilities / (Total liabilities +
Capital (Capital or equity) Equity)

 total Liabilities (Tổng nợ phải

trả) = 5,952,424,147,163 VND
 Equity (Vốn chủ sở hữu) =
11,255,306,630,522 VND
 0.346=34.6%

2. Times Interest Earned EBIT / Interest expense

Ratio
 EBIT (Lợi nhuận thuần từ hoạt động
kinh doanh) = 2,683,450,952,524 VND

 Interest Expense (Chi phí lãi vay) =

137,611,498,136 VND

=19.49
3. Long-Term Debt to Equity Long term liabilities / (Long-term
liabilities + Equity)

 Long-Term Liabilities (Nợ dài

hạn) = 1,369,741,998,658 VND
 Equity (Vốn chủ sở hữu) =
 11,255,306,630,522 VND

=0.1085=10.85%
D. Profitability Ratio
1. Profit margin (Net profit Net income / Net Sales
Margin)
 Net Income (Lợi nhuận sau thuế) =
2,112,916,282,946 VND

 Net Sales (Doanh thu thuần) =

38,232,401,184,050 − 409,564,012,665 =
37,822,837,171,385 VND

≈0.0559=5.59%

2. Gross margin ratio Gross profit / Net Sales

=6,673,502,640,192 /37,822,837,171,385
=0.1764=17.64%
3. Operating margin ratio Operating income orEBIT / Net sales
= 2,683,450,952,524/37,822,837,171,385
=0.0709=7.09%
4. Return on total Assets Net income / Total assets
(ROA) or investment
2,112,916,282,946 /17,207,730,777,685
=0.1228=12.28%
5. Return on Common Net Income / Common Equity
Equity (ROE) =2,112,916,282,946 / 11,255,306,630,522
=0.1877=18.77%
6. Return on Invested Capital =Earnings After Tax / Total Invested
(ROIC) Capita
= 2,112,916,282,946/12,625,048,629,180
0.1674=16.74%

7. Basic Earning Power EBIT / Total Assets

(BEP) Ratio =2,683,450,952,524 /17,207,730,777,685
=0.1559=15.59%
E. Market Value Ratio
1. Price/Earnings (P/E) Ratio Price per share / Earnings per share (EPS)

📌 Dữ liệu năm 2024:

 Net Income (Lợi nhuận sau thuế)

= 2,112,916,282,946 VND
 Số lượng cổ phiếu = 649,078,668
cổ phiếu
 Giá cổ phiếu tại thời điểm cuối
năm = 93,000 VND/cổ phiếu

2. Market or Book Value per Common equity / Shares outstanding 

Share Common Equity (Vốn chủ sở hữu) =
11,255,306,630,522 VND

 Số lượng cổ phiếu đang lưu hành =

 649,078,668 cổ phiếu

≈17,341VND/cổphie^ˊu
3. Market/Book (M/B) Ratio Market price per share / Book value per
share Market Price per Share = 93,000
VND

 Book Value per Share = 17,341 VND

(đã tính ở câu trước)

≈5.36