1. Vietnam Stocks

  2. •

    Consumer durables

  3. •

    Automotive aftermarket
Southern Rubber Industry JSC

Southern Rubber Industry JSC

HHOSE:CSM
12,000.00
VND
-100.00
(-0.83%)
1.33TMarket 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
33,095.39
32,759.69
35,088.99
37,698.66
33,943.24
37,558.25
37,732.29
41,092.47
42,272.73
51,344.93
50,517.67
45,473.24
39,979.39
- -
Basic EPS, GAAP
3,802.6
3,411.43
2,797.79
2,921
530.76
58.35
464
794
367
764.15
582.62
695.5
410.66
- -
Free Cash Flow per Basic Share
-7,290.5
-978.92
3,178.78
-4,430.08
-4,966.62
1,328.27
661.47
1,927.45
-2,564.21
-27.13
5,509.64
2,450.29
3,927.16
-3,983.32
Dividend per Share
1,853.74
1,595.31
2,687.46
2,880.07
1,298.05
398.99
0.62
453.77
442.62
300
300
300
300.16
0.9
Book Value per Share
11,757.84
13,168.06
13,011.06
12,807.96
11,860.56
11,480.28
11,975.31
12,308.26
12,133.16
12,559.04
12,778.74
13,126.03
13,164.44
13,591.56
Tangible Book Value per Share
10,230.89
10,869.96
12,044.11
11,862.54
10,936.69
10,556.34
11,074.5
11,430.57
11,278.58
11,727.57
11,970.38
12,338.82
12,402.31
12,840.98
Basic Weighted Avg Shares
95
97
104
87
104
104
113
114
114
104
104
104
104
104
Sales/Revenue/Turnover
3,133,789
3,178,225
3,636,167
3,286,766
3,517,418
3,891,984
4,265,192
4,692,034
4,839,508
5,320,632
5,234,907
4,712,176
4,142,875
- -
Operating Margin (%)
16.91
14.9
12.62
12.19
4.48
4.12
4.67
5.24
3.48
4.57
3.41
2.84
1.09
- -
Depreciation Expense
64,960
138,739
183,208
177,735
172,274
185,208
199,145
215,849
208,962
214,484
201,302
193,065
156,277
- -
Net Income, GAAP
360,066
330,964
289,927
254,668
55,001
6,047
52,450
90,661
42,015
79,185
60,375
72,071
42,555
- -
Effective Tax Rate (%)
25.11
22.23
21.96
21.42
20
25.1
20
20.15
23.87
22.16
14
19.11
30.59
- -
Profit Margin (%)
11.49
10.41
7.97
7.75
1.56
0.16
1.23
1.93
0.87
1.49
1.15
1.53
1.03
- -
Working Capital
621,614
490,604
576,507
361,229
80,891
-66,991
14,526
75,756
139,780
261,161
404,202
523,149
572,714
683,692
LT Debt
- -
881,296
764,517
729,303
629,986
540,415
403,853
345,329
220,804
136,480
86,749
48,712
53,991
116,839
Total Equity
1,218,461
1,364,626
1,348,297
1,327,228
1,229,054
1,189,648
1,240,944
1,275,447
1,257,302
1,301,434
1,324,200
1,360,188
1,364,169
1,408,429
Return on Invested Capital (%)
24.57
16.46
12.77
8.98
1.42
0.07
1.41
2.52
1.51
2.35
1.55
1.74
1.53
- -
Return on Capital (%)
24.32
16.54
12.27
10.93
4.39
3.17
4.92
6.03
3.86
4.99
5.71
4.74
3.07
- -
Return on Common Equity (%)
32.95
25.63
21.37
19.04
4.3
0.5
4.32
7.21
3.32
6.19
4.6
5.37
3.12
- -

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,796,236
1,747,167
1,804,808
LT Borrowings
53,991
93,195
116,839
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
104
104
104
Market Capitalization
1,383,397
1,274,591
1,326,403

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,964,982
2,832,635
2,906,683
Cash, Cash Equivalents & STI
794,887
577,087
503,998
Accounts Receivable, Net
524,900
580,388
677,081
Inventories
1,323,308
1,298,133
1,268,027
Total Current Liabilities
2,392,267
2,201,162
2,222,991
Payables & Accruals
- -
- -
- -
ST Debt
1,796,236
1,747,167
1,804,808
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.18%
1.37%
0.29%
Free Cash Flow
-2,090.15%
-4,147.88%
60.27%
Net Income, GAAP
65.01%
-2.1%
-40.95%
Sales/Revenue/Turnover
1.71%
-2.12%
-12.08%
Total Cash Common Dividend
- -
- -
0.05%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,147,157
1,265,112
1,107,492
1,192,415
4,712,176
2025
1,021,279
1,105,999
- -
931,223
4,142,875
2026
1,105,282
1,148,203
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
189.85
203.84
219.16
82.65
695.5
2025
187.51
209.18
- -
-127.09
410.66
2026
251.11
221.11
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
300
2025
- -
- -
0.74
0.16
300.16
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Phu Hong Pham
Full Time Employees
1,775
Sector
Consumer durables
Industry
Automotive aftermarket
Address
Ho Chi Minh City Vietnam
IPO Date
Aug 4, 2009
Website
casumina.com
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Business
Southern Rubber Industry Joint Stock Company, operating under the brand name Casumina, is a Vietnam-based manufacturer and distributor of automotive tires, industrial tires, two-wheel vehicle tires, and technical rubber products. Founded in 1976 and headquartered in Ho Chi Minh City, Vietnam, the company operates as a core subsidiary of the Vietnam National Chemical Group (Vinachem). Southern Rubber Industry manufactures and markets a comprehensive portfolio of tire and tube products, comprising passenger car radial (PCR) tires; all-steel truck and bus radial (TBR) tires; bias-ply tires for light and heavy commercial vehicles, forklifts, and agricultural machinery; motorcycle and scooter tires, including tubeless configurations; and bicycle tires and inner tubes. The company markets its products under established brand names, including the flagship Casumina brand; Advenza, dedicated to high-performance passenger car radial tires; Euromina, focused on premium scooter and motorcycle tires; and Raceforce, designed for sport and high-performance two-wheelers. In addition to vehicular tires, the company manufactures an extensive line of specialized technical rubber products, including industrial conveyor belts; transmission and V-belts; elastomeric bridge bearings; marine dock fenders; latex gloves; and custom-molded industrial rubber spare parts. Southern Rubber Industry operates multiple manufacturing plants in southern Vietnam, anchored by its advanced Radial Tyre Factory in Binh Duong Province. The company serves domestic replacement and original equipment manufacturer (OEM) channels and exports to international markets across North America, South America, Europe, the Middle East, and Asia-Pacific. In recent developments, Southern Rubber Industry has executed capital expenditure programs to modernize machinery and expand production capacity at its Binh Duong Radial Tyre Factory, prioritizing the scaling of high-margin passenger car radial and truck radial output. The company has expanded its specialized export product lines, introducing lightweight, high-durability tire models tailored to international safety certifications including US DOT and European E4 standards, while broadening the distribution of its Advenza and Raceforce product lines. Additionally, Southern Rubber Industry has strengthened international commercial cooperation through supply and manufacturing discussions with regional partners such as Soosan Vina Motor, while implementing enterprise-wide operational and supply chain efficiency initiatives to counter raw material volatility.