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Binh Duong Mineral & Construction JSC’s (HOSE:KSB) 2026 estimates are management targets, not an analyst consensus: revenue of VND1,090 billion and profit before tax of VND238 billion. Against the company’s 2025 reported revenue of VND710.88 billion and profit before tax of VND174.86 billion, those targets imply roughly 53% revenue growth and 36% pre-tax-profit growth. Simply Wall St reports no analyst coverage sufficient to produce an independent KSB forecast, so investors should treat the plan as an execution scenario rather than a probability-weighted market estimate.
What are the current KSB estimates?
KSB is Binh Duong Mineral & Construction JSC, a Vietnam-listed company whose activities include mineral extraction and processing, construction materials, industrial infrastructure and real estate. Its 2026 figures come from the company’s 2025 annual report and represent management’s plan for the year.
| Measure | 2025 reported | 2026 management plan | Implied change |
|---|---|---|---|
| Revenue | VND710.88 billion | VND1,090 billion | Approximately +53% |
| Profit before tax | VND174.86 billion | VND238 billion | Approximately +36% |
The growth percentages are arithmetic comparisons between actual 2025 results and the plan; they are not guidance from an independent analyst model. The annual report also sets goals to expand target markets, improve the value chain, complete legal and land procedures, and develop industrial-park infrastructure.
Is there an analyst consensus forecast for HOSE:KSB?
No reliable public consensus is established in the supplied coverage. Simply Wall St says it does not have sufficient analyst coverage to forecast KSB’s growth and revenue, lists analyst coverage as none, and notes that two named institutions had submitted no estimates used in its report.
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Consequently, descriptions such as “KSB consensus revenue forecast” or “analysts expect” would overstate the evidence. The VND1,090 billion revenue and VND238 billion pre-tax-profit figures should be labelled KSB management’s 2026 plan whenever they are quoted.
How strong was KSB’s 2025 performance?
The 2025 annual report states that net revenue reached VND710.88 billion, up 77.15% year on year. Gross profit was VND289.47 billion, an increase of 62.9%; profit before tax was VND174.86 billion; and profit after tax was VND155.59 billion. The report also records finance costs of VND177.42 billion and a 21.9% net margin.
Different databases use different profit-line definitions. StockAnalysis’ historical series, supplied by S&P Global Market Intelligence, reports FY2025 revenue of VND710,881 million, gross profit of VND289,471 million, operating income of VND194,337 million, net income of VND134,457 million and EPS of VND1,174.87. The annual-report profit-after-tax figure and StockAnalysis’ net-income series should therefore not be substituted for one another without identifying the source and line item.
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What does the latest KSB run rate show?
StockAnalysis reports June 2026 trailing-twelve-month (TTM) revenue of VND915.366 billion, TTM net income of VND183.997 billion and EPS of VND1,612.25. These figures use S&P Global Market Intelligence data and are updated quarterly after earnings releases.
TTM numbers describe the twelve months ending in June 2026; they are not a forecast for the December 2026 financial year and are not management guidance. Seasonality, the timing of quarry sales, industrial-park lease recognition and project approvals can all affect how a TTM run rate compares with the full-year plan.
Which businesses must deliver the 2026 target?
FY2025 segment data reported by StockAnalysis shows that mining activities generated VND535.588 billion of revenue and industrial-park leasing generated VND180.293 billion, with VND5 billion of eliminations. Mining therefore supplied the larger disclosed operating base, while industrial parks are an important project-driven growth avenue.
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Mining and Tam Lap 3
The annual report identifies the Tam Lap 3 quarry as a key project and gives a planned 2026 khai thác capacity of 1,475,000 cubic metres per year. Actual contribution depends on permits, construction readiness, geology, customer demand, selling prices and the ability to move material to market; capacity is not the same as booked revenue.
Industrial parks and land procedures
KSB highlights the Dat Cuoc industrial-park expansion and the Hoa Lu industrial-park project. Legal, land and construction procedures remain central tasks. The company says unresolved legal procedures affected its 2025 investment plan for Dat Cuoc, Hoa Lu and quarry-area expansions, making approval timing a major sensitivity for any 2026 estimate.
What could make KSB miss or exceed the plan?
- Economic and property cycles: weaker construction or real-estate activity can reduce demand, prices and volumes for minerals, materials and industrial land.
- Weather and geology: heavy rain, flooding or adverse open-pit geology can interrupt extraction and raise operating costs.
- Legal and environmental compliance: permits, land clearance and environmental obligations can delay capacity additions or project revenue recognition.
- Competition: rivals may compete on price, product quality and the location of resources relative to customers.
- Exploration and licensing: geological uncertainty and license outcomes affect the duration and scale of quarry operations.
- Financing and execution: infrastructure spending and working-capital needs must be funded while projects move through approval and construction stages.
KSB chairman Phan Tấn Đạt wrote that the company’s value in its new phase lies not simply in growth speed but in creating a foundation for long-term development. That framing is consistent with a plan whose outcome depends heavily on completing land, legal and infrastructure work.
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How should investors compare the estimate with actual results?
- Start with the base: compare each quarterly revenue and profit-before-tax release with the VND710.88 billion and VND174.86 billion 2025 baselines.
- Separate segments: track mining volume and pricing independently from industrial-park leasing and project milestones.
- Check recognition timing: determine whether a reported increase reflects recurring operations, a lease transaction, a one-off item or a change in accounting timing.
- Reconcile definitions: use annual-report profit before tax and profit after tax consistently, and label StockAnalysis net income and EPS as that database’s series.
- Update the evidence date: TTM data changes after each quarterly filing, so record the period end whenever quoting a run rate.
The company’s official investor-relations disclosures are the preferred source for later filings, revised plans and material project updates.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Frequently Asked Questions
What is KSB’s 2026 revenue target?
KSB management’s 2026 plan calls for VND1,090 billion in revenue. It is a company target from the 2025 annual report, not an independently verified analyst forecast.
What is KSB’s 2026 profit forecast?
The plan specifies VND238 billion of profit before tax. The figure should not be confused with profit after tax or with StockAnalysis’ net-income series.
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Why are KSB estimates difficult to find?
Simply Wall St reports insufficient analyst coverage and lists coverage as none. Publicly available numbers are therefore mainly management targets and trailing financial data rather than a broker consensus.
What are KSB’s main revenue sources?
StockAnalysis reports FY2025 revenue of VND535.588 billion from mining activities and VND180.293 billion from industrial-park leasing, plus VND5 billion of eliminations. The mix can change as quarry capacity and industrial-park projects progress.
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