Gelex Group Joint Stock Co

Gelex Group Joint Stock Co

HHOSE:GEX
23,650.00
VND
-200.00
(-0.84%)
41.15TMarket Cap
Dec 02Next Earn
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
9,205.83
14,678.52
15,183.2
14,861.63
20,834.1
26,227.04
23,927.08
22,367.98
25,096.62
29,190.73
- -
Basic EPS, GAAP
673.26
780.56
1,044.54
585.32
930.58
953.24
275.08
246.33
1,212.96
1,091.82
- -
Free Cash Flow per Basic Share
-490.14
-431.11
-630.3
-348.69
-1,792.35
-9,627.87
2,856.38
-671.94
-985.86
-3,908.86
-2,790.26
Dividend per Share
194.83
284.22
375.34
0.13
55.25
318.73
1,043.89
591.11
387.99
1,741.17
1,561.34
Book Value per Share
3,343.85
5,350.31
5,585.86
6,041.18
6,604
8,977.15
9,005.3
9,210.57
10,339.83
13,162.19
15,131.46
Tangible Book Value per Share
3,243.19
4,398.11
3,923.18
4,583.37
5,587.89
7,194.22
7,414.07
7,799.16
9,110.03
11,979.03
13,361.11
Basic Weighted Avg Shares
793
816
902
1,031
862
1,090
1,341
1,341
1,345
1,354
1,342
Sales/Revenue/Turnover
7,297,113
11,984,141
13,699,130
15,314,986
17,948,713
28,578,399
32,088,753
29,997,836
33,752,305
39,512,528
- -
Operating Margin (%)
8.06
9.98
8.94
9.91
8.45
7.69
10.91
9.31
11.68
13.02
- -
Depreciation Expense
104,190
317,792
495,975
621,398
628,468
2,322,678
3,600,955
4,197,167
2,934,918
3,238,078
2,341,763
Net Income, GAAP
533,670
637,281
942,442
603,171
801,705
1,038,701
368,916
330,357
1,631,298
1,477,892
- -
Effective Tax Rate (%)
15.57
20.84
16.28
23.34
18.17
18.99
26.38
38.16
26.12
36.03
- -
Profit Margin (%)
7.31
5.32
6.88
3.94
4.47
3.63
1.15
1.1
4.83
3.74
- -
Working Capital
2,595,098
2,683,133
1,277,480
726,974
2,239,729
7,090,008
2,524,280
1,708,085
5,831,556
17,618,857
12,903,535
LT Debt
1,530,468
2,533,869
2,131,746
4,561,954
7,752,211
13,749,732
9,645,872
10,131,856
8,306,581
16,668,390
18,372,368
Total Equity
3,364,895
6,156,798
7,964,955
8,645,527
8,215,187
20,497,802
21,043,378
21,223,758
23,257,961
30,173,605
34,523,274
Return on Invested Capital (%)
- -
9.42
9.92
5.34
4.47
4.7
3.41
2.11
6.31
5.77
- -
Return on Capital (%)
- -
7.26
8.04
5.96
6.64
4.37
0.97
1.94
3.87
1.76
- -
Return on Common Equity (%)
- -
18.49
19.11
10.08
12.14
11
3.06
2.7
12.38
9.29
- -

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
12,168,371
13,903,693
16,948,194
LT Borrowings
16,668,390
21,379,402
18,167,372
LT Finance Leases
113,011
214,614
204,997
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,354
1,354
1,308
Market Capitalization
40,701,304
34,540,098
41,151,424

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
39,414,126
48,969,753
41,041,302
Cash, Cash Equivalents & STI
18,626,736
17,122,243
16,579,361
Accounts Receivable, Net
2,494,564
2,947,471
3,970,578
Inventories
14,454,964
19,405,774
16,899,891
Total Current Liabilities
21,795,269
26,440,469
28,137,766
Payables & Accruals
- -
- -
- -
ST Debt
12,168,371
13,903,693
16,948,194
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
38.47%
29.73%
Free Cash Flow
- -
133.12%
299.06%
Net Income, GAAP
- -
67.81%
-9.4%
Sales/Revenue/Turnover
- -
18.91%
17.07%
Total Cash Common Dividend
- -
241.38%
351.67%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6,660,001
8,248,282
8,708,567
10,135,455
33,752,305
2025
7,916,357
10,119,235
- -
11,642,440
39,512,528
2026
10,721,709
14,479,995
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
80.94
665.03
73.49
427.03
1,212.96
2025
183
502.01
- -
12.26
1,091.82
2026
181.47
411.65
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
33.19
124.86
5.68
230.58
387.99
2025
26.95
534.38
276.32
922.85
1,741.17
2026
12.58
348.18
- -
- -
- -

Company Description

CEO
Anh Tuan Le
Full Time Employees
9,208
Sector
Electronic technology
Industry
Electronic equipment/Instruments
Address
Ha Noi Vietnam
IPO Date
Jan 18, 2018
Website
gelex.vn
Business
GELEX Group Joint Stock Company is a Vietnam-based investment holding company primarily engaged in industrial manufacturing, infrastructure development, real estate, and utility services. The company operates through two core business divisions: Industrial Production and Infrastructure. Its industrial production segment manufactures and distributes electrical equipment and building materials, offering products such as low-, medium-, and high-voltage power cables, bare overhead conductors, magnet wires, and copper rods under the CADIVI brand; single-phase, three-phase, and amorphous distribution transformers and power transformers under the THIBIDI brand; electronic and electromechanical energy meters, instrument transformers, and electrical measurement devices under the EMIC brand; industrial and commercial electric motors and generators under the HEM brand; and construction materials including ultra-clear float glass, low-emissivity and solar control energy-saving glass, ceramic and porcelain tiles, sanitary ware, autoclaved aerated concrete (AAC) blocks and panels, and terracotta roof tiles primarily through its subsidiary Viglacera Corporation. Its infrastructure and real estate division develops, constructs, and operates industrial parks, ready-built factories, and logistics warehouses; commercial office towers, luxury hospitality assets, and social housing developments; potable water production and municipal distribution networks through Song Da Clean Water Joint Stock Company; and renewable energy generation facilities, including utility-scale wind farms, solar photovoltaic plants, and hydropower installations. The company serves power grid operators, engineering and construction contractors, industrial manufacturers, commercial enterprises, and retail consumers across Vietnam, with export operations extending to Southeast Asia, East Asia, and the Americas. Founded in 1990 and headquartered in Hanoi, Vietnam, the company was formerly known as Vietnam Electrical Equipment Joint Stock Corporation and manages principal subsidiaries including GELEX Electric Joint Stock Company, GELEX Infrastructure Joint Stock Company, and Viglacera Corporation - JSC. In recent developments, GELEX Group executed a strategic equity transfer and joint venture partnership with Singapore-based Sembcorp Industries to transfer an equity interest in a 245-megawatt operational renewable energy asset portfolio, allowing the group to reallocate capital into industrial real estate and high-tech supply chain ecosystems. Furthermore, the company expanded its partnership with Frasers Property to develop high-grade, green-certified industrial parks and ready-built factories across northern Vietnam, while commercializing advanced ultra-clear float glass production lines to meet rising demand in architectural and solar energy applications.