Techcom Securities (TCX) Q1 2026 earnings summary

Executive summary

• Achieved resilient earnings and reinforced market leadership in 1Q2026, with total revenue up 37% year-over-year and profit before tax up 11% year-over-year.

• Maintained #1 position in bond issuance advisory with 86% market share and #1 in margin lending with 11% market share.

• Demonstrated strong business performance across investment banking, margin lending, and brokerage segments.

• Total assets reached VND 88.7 trillion as of 31 March 2026, up from VND 80.6 trillion at year-end 2025.

• Owners' equity increased to VND 45.5 trillion, reflecting strong capital base and retained earnings.

Financial highlights

• Total revenue reached VND 2,783 billion, up 37% year-over-year; net operating income rose 24% year-over-year.

• Profit before tax was VND 1,458 billion, up 11% year-over-year; net profit after tax for Q1 2026 was VND 1.15 trillion, up 13.6% year-over-year.

• ROA stood at 7.8% and ROE at 15.4% for the quarter; return on equity (ROE) for Q1 2026 was approximately 10.1% annualized.

• Margin lending and advances contributed VND 1,211 billion, up 69% year-over-year.

• Basic and diluted EPS were VND 497 and VND 493, respectively.

Outlook and guidance

• FY2026 revenue target set at VND 13,227 billion (up 26% vs. 2025 actual, excluding non-recurring income); profit before tax target at VND 7,535 billion (up 18%).

• Conservative SBV credit quotas expected to support higher corporate bond issuance.

• Continued focus on diversified financial products and AI-driven transformation.

• Management continues to focus on risk management, maintaining liquidity, and expanding core business lines.