PHÂN TÍCH TÍN DỤNG CÔNG TY TRẦN ANH

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 
 
 
  !
" #$%&
' ()*+
,-',,,,"
,-',,,".
,-',,-
,-',,,,/
,-',,,/
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
 !"#$
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 

 !"#
$ "%&'( )*
+,- ).
/01+2)
2
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2345$&65&78&&9:;&<<=5*&>*&?@&A
BC?DE1&9FG1&9H&9*E%53I5:JEK&L&L1M1
&<EK5N1O;&<D5E+3+*&?@PMK5N1I+D
9*&?@&ABC?QR7ST&9O;&<?:D5D&:E4+%GU

&R5?VM678&&9:5N1WGK51E+5N15U<=
9*P=&*+5XD1WWYZ#%&1W+5+@47E=O
;&<;E65E+<=[5S%&M6;%#%&1W147&\5]5W
<=^_`aE+*&8b,,/?Q?8B>S=5*[&78&&9:5N1;&<#%&
1Wc85I+#%&1WD5E+I+dcID9?1?]
&9=5&85&]5?KW[&E=5@55&91;K53%&EO5U&7X?@EKZ
55>7&ABCE+585B5EC&9*O;&<:?UWSU*55>7e;*U
&ABC5D%GUZ1&*+W+EfM3gZI+5X&65%5T&85&VW
?&ABC&K&ZSh5DE4ZI+W=&98?g55859N9*I91Sh
e;*U5*E1;T?&&5V
:*&?@&ABC?&?g5%GU51*Z58S@&ABC5XiWEeG
&9j&VW?&ABCZ?[5S%&3+585WTj5\?:E+%?k=D5j
5N1W@&58S@&ABCZDW&<&&9j?Q5H5T&c\7X<=MK9X
?:&65%7I&A5&ABCG1585S8*58*&+5A5N1G2#b,,Z
b,Zb,&l*WTjc\?:E+%?
(+&:34JW7X
%&'()*+*,+-.&!
%&''(%/0+01+-.&!2-3+456)57#
%&'''(8+*
3
!"#  $%
5T&cmnocpqrns0t
uq
•   1*  B5  E<&  &i&    u  kn
_`ukZv0c
• 15wx"y8Z7y8gZ
G4K1Z+@
• n>  czzk  E+  WQ  MK  B*1  %7  MK
,,x,,.{?|;2&1?\3X&]{B*Mh
z<*5}X&&+7K+@5>7+'b'b,,

• B%&l*78734&5N1B*1%7m9X~Iz{cN&5
 
&'Quá trình hình thành và phát triển
cT&WE+k5EC9X?g5&+347&l*G<&
? MK ,,,,"x, B*0h z< *5 E+  X &  + 7K +  @ 5>7 +
b,b,,cT&?Q5A&]55:?\&LWTj5T&M1WT
j5T&5\7XE=&HW=3+9-.+4 &:;<&!;:&L
+,-b,-b,,x&l*>5]4?|;2;B*1MK,,, xB*0hz<
*5E+X&&+7K+@5>7
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&A53=/,W01x|W*&?@Z%1GWT5T&&|3E=X
',,IEE+?1?:W;B*15DB%&A5Xx,,,Wni3OG8&9j
*&?@E+78&&9:5N19X3+eM6;%E+5AM85;B*1W1
&A?@&78Z&7*&9*3€E65;B*1&<&SW8E&A5AM85
;B*1•S88S8ST?<&4&1y&B)•Z5AM85SU*+•
?\&9*EF/&8•}•SU*+5U&9*&9yg7cS58Z\•Z5AM85
•51W;<&*+&O;5DS<?@8• 1?DZ9X3TB&9j?g5&K5?@
&|&9h51*Z&*+B%EOWHW[&W@&585SOEeE+?8;5M*E=
5855T&;B15)3€E65%19X3+W@&&9*e5T&
+?X#%&1W&9*3€E655T%&T&z85+3T&&h
9XSh5855AM85Z51W;<&ZB5ECW+9>&O5T&W8&A;85
;T3+W?g5
01W@&&y1;‚??g5&&\&95853€E65;B*18
&A{3;%Z<&SU&9AMKZ<&SE|7FE+%&*B?@Z+
,b,b,,.Z9X?QWh9@M13€E65%&•Z%3Z&<&S1BC
E=%&K0&%W8{%&KM&%W8{9X5D
4
;T19@Z7*585S+&9A1+;*1H5&*?O;%&43g5*
;85+&|WG1E+3615HMU7VW
cT&9X5DW@&?@$IE)4E+5D&9j?@5WT

9>&51*^',ƒ?Q&K&%7H5Zc1*?‚5+z&<Zz„&4&aZ
?N;U|?:5D&:?87]WH5XB)3+;i&;l>&5N1GA;85+
('Lĩnh vực kinh doanh!
…L+bb,,{,b,b,,.zB*18&A{3;%Z<&S
U&9AMKZ<&SE|7FE+%&*B?@†
…L+,b,b,,.&=1h9@;B*1M13€E65%&•Z%
3Z<&S1BC
)'Tầm nhìn của công ty Trần Anh!
…9h&+5T&5D%&K0&%W8{5DGWTZ5
%7E+3=>&#%&1W
…~IB69X&9h&+W@&WT&9y3+WE%55%7W+
WH58I5D&:78&&K?1M]5M8&*Z;U|3Q?*E+5@3+W5N
&65M6E=W@&&&XBI5N9>&51*
…~IB69X&9h&+W@&T+5&65M65*WH58S@I
E&9*5T&S‡E%55)151MˆGO3gZ&985%WE+€1ECW@&
5855TS‡E+WS5>&
*'Giá trị cốt lõi của công ty Trần Anh!
…z‰34&=E+*&A5%7†
…*+&%&\5]5=&=B5EC+?X†
…|?@=&=&AM8&*&47&:†
…c1W;<&@S@E+E=5@?JZPQ@†
…+WE%5E++?@&9&65†
+'Triết lý kinh doanh của công ty Trần Anh!
…#|D15T&3+O&UE+&9C5@&78&&9:Z&47g7E+&TE&>&5U
e<&KISU&9*;B*1=&=M678&&9:+F1E+SOEe
…A5;<&E+*&9*WH5AM85E+B5ECW+5T&?191&&9y&>&
5U5858&95SU&*jUEOW@&5T&;B*1?%W8Z&<&SMK
5X7U5D7*ŠKŠ5V
5
!,-./0

1Nhóm chỉ sổ về khả năng thanh toán (Liquidity Ratios)
zU|&1&*85N1B*1%73+|365EO&+5AW+B*1%7
5D?g5?:?87]5X&1&*8585;*Ug5*58558IZ&\5]55DG1
%5*B*1%7E1*[5g|365&+5A?D&J&B=B&O&%^&O
W[&Z&O•‹aZ585;*U7U&&L58558IWi5gB*1%7Z585&+MU
5D&:5:?\&+&O+D1Z&+7VWZ+•S8
LSU5I?K;<&*85N15T&9XG1585G2Z585&‰MK&9*DW
&‰MKEO;U|&1&*8M1
23 456$1(7&7 4561(7&& 4561(7&&
zU|&1&*8%&yŒ+MU
3?@bgi
", ," ",,
zU|&1&*81Œ^+MU3
?@{+&J;*abgi
,/ ", 
zU|&1&*8&OW[&ŒOE+
5];*8&?&Obgi
,' x/ "
#K3?@&yP&XŒ+
MUi{gi
-"P,

-/P,

 P,

k61E+*SU&9&15D&:&>Z;U|&1&*8%+5N1B*1
%75DP=UW&9*•1?XE+&|&9*•1M15N1G2ZP=
53+&|•%MK+MC&UW&9*&8?X|W,B*&+MUi
5DP=UWW+5C&:3+&OW[&E++&J;*01?DZ5wMK+37C5

Jk)E4Z&‰3%+3TB&9jhW]53=ZW]5MUW&W&y;T
?8;:5*&>JEK5N1B*1%7Ef?g5B&9j5I?KZ?KE=e
;*Ug?<&1&*8ZB*1%7?N|365?:&9Ug[&;85Z&‰3%+
5N1B*1%75$3T51*5wMK&9Sj+^'/Z,-Z'x3X3g&
&l*585G2a5]&Ž;U|&1&*8%+5N1B*1%7hW]5W
&9*+W
#K3?@&yP&X5DP=&|?OE+3T•,5*&>
JEK?g5B&9j5I?KZEKB+&[B&W&y&+&9g5*&+MUi

1P=&&6;U|&1&*8%+3+;U|&1
&*81E+S‡&OW[&I5N<3+B*3g&OW[&E++&J
6
;*SS<?@zU|&1&*81E+;U|&1&*8S‡&OW[&
?O•5]&ŽB*1%7?N;U|&9UgS‡&O*[5&+MU5D&:5:
?\&+&O1;?<*[5G8J&yZ5855wMK+5DP=
&|5*S<&W@&;+&J;*5N1B*1%7S]?H*[5W>&8ZB*1
%7Ef?N&O?:&9U585;*Ug;?<0*E=5855wMK&9Sj+
;U|&1&*81,'Z'-Z.†;U|&1&*8S‡&OW[&
Z,.xZ.Z5855wMK+?O51*5*&>;U|&+5A5N1B*1
%7&?KW&9*5)+
1Tỷ số kết cấu tài chính/tỷ số nợ (Leverage ratios)
DW5wMK+?*3yW]5?@M•BCEK5N1B*1%7&9*WK
&G1e1gE1E+EK5NMheZ;U|&1&*83QE1E+585;*U
7U&9U5K?+|W
85 456$1(7&7 4561(7&& 4561(7&&
‰MKg ,"' , ,"'
‰MKgb#K5NMh
e
,' ,"x/ ,'
%MK&6&+&9g ,x'' ,/x- ,x''

%MKIEK5N
Mhe
' "x/ '
‰MKgB+ ,,," ,,, ,,,
~=55N1585DW5wMK+3+&|&9*G2b,E+UWEO
W]55$E+*5KG2b,*&9L&‰MKgB+E=PhUWk*1
%73TB&9jW@&5MK&9*&\JEK;8\?Z&‰MKgbEK5NMh
e3TehW]5&>7Z&>75wMK+^"-Z-,Z'-3X3g&&l*
G2a•W]5+ZB*1%7*+&*+?N;U|&9Ug;5DS<5KPU91Z9N
9*E‘g5N1B*1%79>&&>7M*E=+‰&9HJEK&6&+&9g5N1
B*1%73T5<WhW]551*•/xƒ&9*&\JEK;B*15N1
B*1%7E+51*&9Sj+^3X3g&3+,'Z,"/Z,'aEIZ
JEK&65DBJB+*MYR7B*1%7?87]5X&1;*U&9*585
&9y;V5>7k*1%75N<*&?@B61E+*JEK&65D3+?
E1g#jE4Z9N9*?KE=E%55*E1E=5T&3+Ž*+91Z&‰MKgB+
5N15T&&9*G25$5DUW5*&>W]5?@&65N&9*;B*1
5N15T&
1Nhóm tỷ số hoạt động (Efficiency/Turnover ratios)
7
DW5wMK+?*3y%GU*&?@GU32E+M•BC&+MU5N1
B*1%7]5?@?X&E+*&+MU5N1B*1%7?Qg732151’•
DW5wMK+&1MY&47&9E+*E%5P85?%GUM•BC&+MU?:&*91
B*1&
85 456$1(7&7 4561(7&& 4561(7&&
#FG1+&J;* 'x' '/" "/'
zj&&OSjGI^+a , ,x ,
#FG1&+MU5K? x /x '/
#FG1+&J;*5N15T&G1585|W5DP=UWEf
hW]551*M*E=585B*1%75)+
#FG1&+MU5K?5N15T&5*&>5T&5N<?X&A&E+*&+

MU5K?E+W]5+5DP=UWBX
$1Nhóm tỷ số khả năng sinh lời (Profitability ratios)
85 456$1(7&7 4561(7&& 4561(7&&
‰M>&3g4^a ,, , ,,.
‰M>&3g4&9&+MU
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k61E+*SU&95D&:&>5855wMK?O5DP=UWG1585G2
*&9L&‰M>&3g4‰M>&3g45N1B*1%7&;T58*
Ef51*&9Sj+^,'Z,,-Z,,/a~=UW5*&>B*1
%7+5+;T&<&;%W57A?KE=B*1&
KE=&‰MKu`ZUW&L'.ƒPK''ƒ&LG2#b,,M1G2
b,O+5*&>W@&?J&+MUSŽ91&*?g53g4+5+A&
Ef51*&9Sj+3X3g&3+"ƒZxƒE+"ƒE4M*
E=585B*1%75)+Z9X5Du`&?K51*#j?I3+MK3%
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W&jB*1%7*+&*+5D;U|&9U?RE+?X?N
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5*E1ZB*1%75D&:*+&9U?g5;*UE15*I+
$1Tỷ số giá trị thị trường
c85DW&‰MK;U|&1&*8Z55>EKZ%GU*&?@?Q
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0K3g5\7<3+
SjGI&9*;!
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GU5*Wj
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&>&A%GU5N1B*1%751*E+*+&*+5D;U|&<7&C5&|&9h
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=.0>?@A
cT&5\7X<=MK9X3+5T&5\7XE+*&?@&9*
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12
M# JN-
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13