Ho Chi Minh City Infrastructure Investment JSC

Ho Chi Minh City Infrastructure Investment JSC

HHOSE:CII
14,050.00
VND
+400.00
(+2.93%)
11.69TMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
5,526.76
19,749.54
7,510.9
4,327.72
7,341.7
9,593.2
6,419
19,542.21
10,502.34
20,216.38
9,965.42
8,331.53
5,430.7
- -
Basic EPS, GAAP
673.3
2,941.2
2,506.33
2,846.53
5,446.23
339.33
520.93
923.36
-1,220.62
2,444.92
574.88
714.57
227.6
- -
Free Cash Flow per Basic Share
- -
- -
-10,034.68
-11,070.85
-6,582.03
-1,887.58
-4,234.91
-6,492.27
-4,839.44
2,538.23
-5,217.51
167.97
-1,265.46
-5,993.95
Dividend per Share
455.97
1,490.24
2,791.95
1,168.91
1,249.47
251.5
0.29
1,508.31
60.9
4.89
770.32
1,396.27
1,096.11
11.79
Book Value per Share
12,678.5
12,594.01
12,938.87
12,816.42
17,575.24
17,664.2
17,957.71
17,599.21
17,706.84
18,728.68
17,402.85
16,542.16
14,271.99
14,400.3
Tangible Book Value per Share
12,043.29
5,893.9
3,609.3
10,462.23
-1,315.71
650.42
104.02
788.91
-13,173.22
-7,976.1
-29,927.68
-29,337.42
-11,197.68
-8,616.02
Basic Weighted Avg Shares
128
132
233
280
278
280
282
275
272
284
310
363
545
637
Sales/Revenue/Turnover
706,525
2,606,471
1,750,948
1,210,756
2,041,166
2,686,003
1,813,161
5,374,092
2,860,034
5,747,991
3,089,710
3,027,743
2,960,268
- -
Operating Margin (%)
20.72
6.47
21.92
17.49
4.47
14.74
9.81
8.38
8.78
14.01
18.87
33.08
36.99
- -
Depreciation Expense
- -
- -
271,961
452,919
808,256
582,623
602,299
612,926
697,325
767,972
692,696
981,363
934,808
- -
Net Income, GAAP
86,073
388,168
624,594
838,280
1,514,180
95,009
147,146
253,923
-332,403
695,147
178,239
259,681
124,063
- -
Effective Tax Rate (%)
26.91
9.34
15.5
15.75
3.84
45.14
0.21
24.11
- -
17.36
13.35
- -
7.37
- -
Profit Margin (%)
12.18
14.89
35.67
69.24
74.18
3.54
8.12
4.72
-11.62
12.09
5.77
8.58
4.19
- -
Working Capital
-627,981
1,525,415
3,063,291
1,075,188
1,606,185
-601,037
-365,652
1,122,047
1,338,744
-2,343,727
-1,233,415
-330,860
4,056,461
6,805,570
LT Debt
3,582,701
4,251,039
8,098,187
3,049,622
8,531,074
7,654,092
8,794,214
13,275,323
13,178,186
9,415,873
14,037,634
18,261,404
17,828,047
21,728,295
Total Equity
1,995,860
3,216,814
4,641,387
4,296,795
7,630,865
7,713,483
8,624,958
7,785,612
8,378,778
8,301,006
8,505,328
9,159,140
11,957,108
12,955,823
Return on Invested Capital (%)
2.24
7.3
6.29
9.29
10.79
0.47
0.14
1.94
- -
3.54
1.55
- -
1.35
- -
Return on Capital (%)
3.7
5.91
7.72
9.77
14.44
1.67
2.66
3.07
- -
6.02
4.48
- -
3.29
- -
Return on Common Equity (%)
5.54
18
19.8
23.62
35.8
1.92
2.92
5.15
-6.91
13.62
3.05
4.21
1.66
- -

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
3,901,917
4,808,364
6,063,262
LT Borrowings
17,828,047
17,955,668
21,728,295
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
625
672
672
Market Capitalization
13,071,914
12,498,926
11,692,544

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
11,401,412
11,657,004
15,195,100
Cash, Cash Equivalents & STI
3,399,531
4,160,452
7,860,051
Accounts Receivable, Net
592,606
549,802
556,891
Inventories
4,879,883
5,126,721
5,501,794
Total Current Liabilities
7,344,951
6,994,920
8,389,531
Payables & Accruals
- -
- -
- -
ST Debt
3,901,917
4,808,364
6,063,262
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.07%
9.48%
30.55%
Free Cash Flow
-174.29%
-367.78%
-1,230.03%
Net Income, GAAP
-47.24%
-124.19%
-52.22%
Sales/Revenue/Turnover
23.69%
0.74%
-2.23%
Total Cash Common Dividend
51,691.18%
3,404.96%
17.75%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
878,055
699,294
706,560
743,834
3,027,743
2025
695,623
731,146
- -
824,707
2,960,268
2026
833,466
752,083
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
740.67
-5.03
-5.16
-14.91
714.57
2025
42.15
46
- -
122
227.6
2026
32.94
18.04
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
854.96
37.67
371.38
133.01
1,396.27
2025
371.28
13.63
- -
-9.14
1,096.11
2026
11.6
8.56
- -
- -
- -

Company Description

CEO
Binh Quoc Le
Full Time Employees
500
Sector
Finance
Industry
Real estate development
Address
Ho Chi Minh City Vietnam
IPO Date
May 1, 2006
Website
cii.com.vn
Business
Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) is a Vietnam-based infrastructure investment and development company primarily engaged in the investment, construction, operation, and management of urban transport infrastructure, clean water supply systems, and real estate properties. Founded in 2001 and headquartered in Ho Chi Minh City, Vietnam, the company operates across key economic regions in southern Vietnam, with core operations concentrated in Ho Chi Minh City, Binh Duong, Tien Giang, Dong Nai, and surrounding provinces. The company operates through four core business segments: Transport Infrastructure, Clean Water, Real Estate, and Construction and Engineering. Its primary products and services comprise Build-Operate-Transfer (BOT) and Build-Transfer (BT) transportation infrastructure, including interprovincial expressways, intra-city elevated roads, arterial highways, bridge systems, and electronic toll collection (ETC) operations; clean water production and municipal distribution services, comprising bulk water treatment plants, regional transmission pipelines, and municipal retail water distribution concessions; real estate development and asset management, consisting of residential master-planned urban areas, mid-to-high-end condominiums, commercial complexes, and land parcel development, notably within the Thu Thiem New Urban Area; and engineering, procurement, and construction (EPC) services, encompassing civil engineering, road and bridge construction, public utility installations, and infrastructure maintenance services. The company conducts its operations directly and through major operating subsidiaries and affiliates, including NBB Investment Joint Stock Company for real estate development, CII Bridges and Roads Investment Joint Stock Company for transport assets, and Saigon Water Infrastructure Joint Stock Company for clean water utilities. In recent developments, the company has executed several strategic realignments and capital structure optimizations. CII has increased its ownership stake in NBB Investment Joint Stock Company to consolidate its residential real estate portfolio and accelerate property development timelines in key urban centers. To optimize capital allocation toward large-scale transportation infrastructure, the company restructured its utility holdings by divesting non-core equity interests in water infrastructure assets. Additionally, CII has issued multiple tranches of long-term corporate convertible bonds and secured syndicated bank credit facilities to refinance existing debt maturities and fund pipeline infrastructure projects. The company is actively pursuing new public-private partnership (PPP) investments and BOT expansion opportunities under Ho Chi Minh City's specialized development mechanism, focusing on the expansion of major arterial corridors, elevated urban highway networks, and Phase 2 expansion works for the Trung Luong - My Thuan Expressway.