SRC Cash Flow Statement - Saovang Rubber JSC

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Price: 36 250 VND 0.83% Market Closed

Market Cap: ₫1.3T

S	Saovang Rubber JSC VN:SRC	VN
A	Anhui Expressway Co Ltd HKEX:995	CN
L	Louisiana-Pacific Corp F:LP3	US
C	Cathay Pacific Airways Ltd DUS:CTY	HK
	Bumitama Agri Ltd OTC:BUMTF	ID
W	West Fraser Timber Co Ltd SWB:WFC	CA
M	Magna Terra Minerals Inc OTC:BRIOF	CA
	Mila Resources PLC F:HN0	UK
	Canfor Corp TSX:CFP	CA
	Check Point Software Technologies Ltd NASDAQ:CHKP	IL
	Franklin BSP Capital Corp OTC:FRBP	US
C	Check Point Software Technologies Ltd DUS:CPW	IL
J	Jimoty Inc TSE:7082	JP
A	Anhui Expressway Co Ltd OTC:AUHEF	CN
C	Check Point Software Technologies Ltd F:CPW	IL
W	West Fraser Timber Co Ltd XHAN:WFC	CA
C	Cathay Pacific Airways Ltd F:CTY	HK
N	Naspers Ltd DUS:NNWN	ZA
A	Anhui Expressway Co Ltd F:HU7	CN
C	Canfor Corp OTC:CFPZF	CA
	Singaraja Putra Tbk PT IDX:SINI	ID
S	Serabi Gold PLC F:B9O2	UK
C	Check Point Software Technologies Ltd SWB:CPW	IL
	West Fraser Timber Co Ltd TSX:WFG	CA

Financial profile · Q2 FY2026

A cyclical tire manufacturer with volatile earnings and working-capital cash conversion

Saovang Rubber combines a volume-sensitive manufacturing model with modest operating margins and recurring exposure to financing costs. Revenue has recovered from earlier weakness, but earnings and cash generation remain volatile because working capital, production disruption, and non-operating items can materially change reported results.

What is developing

The latest results show continued trailing revenue recovery, but the second quarter brought renewed pressure on revenue, operating margin, net income, and per-share earnings. Quarterly operating cash flow recovered, although trailing operating cash flow and free cash flow remained negative, so the company’s financial model has not clearly changed.

What matters next

Whether revenue and operating margin recover after the Nguyễn Trãi plant shutdown while trailing operating cash flow turns positive.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Net Income	84.2B	43.2B	15.8B	51.7B	96.5B	52.4B	38.2B	39.1B	190.7B	32.3B
Depreciation & Amortization	23.2B	23.6B	23.5B	24.8B	21B	20.7B	14.1B	11.7B	10.3B	9.7B
Other Non-Cash Items	7.2B	(1.1B)	11.2B	6.2B	11.8B	7.7B	6.7B	17.6B	(149.5B)	22.9B
Cash Taxes Paid	16.8B	11.1B	5.9B	3.9B	25.1B	13.6B	13.9B	7B	71.1B	0
Cash Interest Paid	9.6B	7.8B	10B	6.3B	5.4B	10.9B	13.3B	16B	15.3B	20.4B
Change in Working Capital	107.8B	(47.6B)	(21.3B)	65.3B	(145.3B)	82.3B	10.9B	(150.6B)	(120.2B)	(252.5B)
Cash from Operating Activities	222.3B	18.1B	29.2B	148.1B	(16.1B)	163B	69.9B	(82.3B)	(68.8B)	(187.5B)
Capital Expenditures	(182.6B)	(25.8B)	(14.6B)	(8.3B)	(1.7B)	(4.5B)	(6.7B)	(13.5B)	(3.7B)	(9.8B)
Other Items	(22.8B)	(101.3B)	2.8B	1.6B	(76.7B)	(283.5B)	2.9B	515.2m	302.5B	1.8B
Cash from Investing Activities	(205.5B)	(127.2B)	(11.8B)	(6.7B)	(78.4B)	(287.9B)	(3.8B)	(13B)	298.9B	(8B)
Net Issuance of Common Stock	(9m)	0	—	—	—	—	—	—	—	—
Net Issuance of Debt	30.3B	138.7B	(9.6B)	(73.4B)	83.8B	128.4B	(59.8B)	114.4B	(216.7B)	214.3B
Cash Paid for Dividends	(41.9B)	(33.6B)	(14.2B)	(87m)	(22.4B)	(28B)	(16.8B)	(22.4B)	(16.8B)	(16.8B)
Cash from Financing Activities	(11.6B)	105.2B	(23.8B)	(73.5B)	61.4B	100.5B	(76.6B)	92B	(233.4B)	197.5B
Effect of Foreign Exchange Rates	1m	0	(7m)	(4m)	(54m)	(39m)	(40.8m)	(9.3m)	5.3m	(741.9k)
Net Change in Cash	5.3B	(3.9B)	(6.3B)	68B	(33.1B)	(24.5B)	(10.4B)	(3.3B)	(3.3B)	2B
Free Cash Flow	39.7B	(7.7B)	14.6B	139.8B	(17.8B)	158.6B	63.3B	(95.9B)	(72.4B)	(197.3B)