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Ho Chi Minh City Securities Corp.

Ho Chi Minh City Securities Corp.

HHOSE:HCM
24,100.00
VND
-150.00
(-0.62%)
25.68TMarket Cap
Mar 03Next Earn
Ho Chi Minh City Securities Corp.
HOSE:HCM
(Ho Chi Minh Stock Exchange)

Recent

price

24,100.00

P/E

ratio

- -

div

yld

1.73%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
893.32
995.91
779.24
869.58
1,126.92
800.6
574.95
1,110.16
2,225.91
1,577.01
1,705.33
3,578.67
1,918.98
1,745.86
1,793.96
2,295.66
2,154.72
Revenue per Share
345.89
402.98
341.39
386.56
510.02
289.29
413.12
739.94
1,264.01
741.22
921.78
1,954.23
988.85
1,023.69
1,306.83
1,468.1
- -
Basic EPS, GAAP
514.72
-2,570.96
2,182.97
-1,251
392.97
-1,369.36
-365.15
-2,611.09
3,454.44
-1,494.58
-8,086.81
-5,274.52
7,767.11
-6,954.21
-16,571.44
-14,615.34
-3,398.91
Free Cash Flow per Basic Share
301.1
86.91
290.79
276.44
206.7
361.68
246.29
292.23
653.47
426.25
634.58
623.51
176.92
693.98
1,042.33
807.07
417.16
Dividend per Share
3,018.01
2,810.93
2,967.69
3,046.73
3,197.56
3,091.94
3,245.13
3,716.2
4,075.36
5,692.64
5,881.92
8,497
9,154.2
9,641.68
11,578.14
13,466.41
13,555.91
Book Value per Share
3,002.1
2,805.96
2,964.87
3,044.44
3,195.34
3,085.3
3,240.4
3,689.45
4,044.26
5,669.27
5,855.42
8,483.29
9,143.25
9,634.8
11,574.52
13,462.21
13,552.25
Tangible Book Value per Share
527
482
722
730
738
737
737
749
534
584
575
587
862
659
796
803
1,035
Basic Weighted Avg Shares
470,849
480,491
562,372
634,760
831,135
590,321
423,824
831,276
1,189,514
920,324
981,363
2,100,554
1,654,349
1,150,096
1,427,196
1,842,999
2,231,163
Sales/Revenue/Turnover
47.96
49.43
54.65
59.03
57.93
50.11
9.66
30.45
26.82
2.51
11.24
11.98
-12.45
-19.52
-29.34
-49.96
- -
Operating Margin (%)
11,524
49,853
48,686
7,824
4,255
5,507
5,921
9,561
20,281
24,718
27,937
24,220
25,935
31,007
30,651
23,843
- -
Depreciation Expense
182,312
194,420
246,381
282,174
376,152
213,310
304,531
554,059
675,480
432,565
530,452
1,147,062
852,488
674,359
1,039,655
1,178,617
- -
Net Income, GAAP
20
17.93
19.71
24.84
21.87
21.43
20.98
20
19.79
18.6
19.67
19.8
20.16
19.93
19.75
20.06
- -
Effective Tax Rate (%)
38.72
40.46
43.81
44.45
45.26
36.13
71.85
66.65
56.79
47
54.05
54.61
51.53
58.63
72.85
63.95
- -
Profit Margin (%)
1,402,400
1,968,744
1,658,688
1,887,802
2,228,239
2,146,403
2,247,792
2,631,435
2,869,405
4,111,229
4,259,394
7,142,861
7,707,344
8,129,624
10,276,463
14,375,396
14,474,977
Working Capital
- -
210,000
110,000
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
1,589,171
2,028,968
2,162,514
2,247,348
2,358,231
2,279,549
2,391,917
2,791,161
3,060,536
4,304,143
4,440,355
7,325,253
7,891,832
8,312,085
10,443,942
14,543,144
14,639,795
Total Equity
11.44
10.15
10.92
12.46
15.54
7.68
9.56
11.65
12.38
7.5
5.91
6.81
4.56
4.16
4.28
3.07
- -
Return on Invested Capital (%)
11.62
10.16
10.92
12.49
15.62
7.75
9.63
11.71
12.47
7.55
5.94
6.84
4.58
4.18
4.3
3.09
- -
Return on Capital (%)
11.62
10.75
11.76
12.8
16.33
9.2
13.04
21.38
23.09
11.75
12.13
19.5
11.2
8.32
11.09
9.43
- -
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
30,889,148
25,415,252
26,093,231
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,080
1,080
1,080
Market Capitalization
21,144,752
21,427,940
25,675,770

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
46,331,258
40,295,278
41,094,101
Cash, Cash Equivalents & STI
16,593,212
10,331,564
11,482,133
Accounts Receivable, Net
648,875
784,026
314,287
Inventories
- -
- -
- -
Total Current Liabilities
31,955,862
26,064,752
26,619,124
Payables & Accruals
- -
- -
- -
ST Debt
30,889,148
25,415,252
26,093,231
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
21.8%
28.59%
39.25%
Free Cash Flow
30.35%
-68.28%
-11%
Net Income, GAAP
27.05%
27.44%
13.37%
Sales/Revenue/Turnover
21.06%
23.11%
29.13%
Total Cash Common Dividend
26.74%
40.23%
-21.86%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
368,454
460,510
232,273
365,959
1,427,196
2025
335,065
365,113
824,040
369,175
1,842,999
2026
418,631
619,317
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
420.27
355.28
252.15
251.71
1,306.83
2025
251.34
213.26
- -
295.37
1,468.1
2026
269.2
252.95
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1,042.33
2025
399.05
319.24
- -
- -
807.07
2026
399.98
- -
- -
- -
- -
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Business
Ho Chi Minh City Securities Corporation is a Vietnam-based financial services firm engaged primarily in securities brokerage, wealth management, investment banking, and capital investment activities. Founded in 2003 and headquartered in Ho Chi Minh City, Vietnam, the company operates through an extensive branch network across major economic centers, including Ho Chi Minh City and Hanoi, serving retail investors, high-net-worth individuals, domestic institutions, and foreign institutional clients. The corporation is backed by major institutional shareholders, including Dragon Capital Markets Limited and the state-owned Ho Chi Minh City Finance and Investment State-Owned Company. The company organizes its operations into four core business segments: Securities Brokerage, Investment Banking, Research, and Capital Investment. Its comprehensive suite of products and services includes: retail and institutional securities brokerage for equities listed on the Ho Chi Minh Stock Exchange and Hanoi Stock Exchange, as well as unlisted public companies on the UPCoM board; fixed-income brokerage and corporate bond distribution; derivatives trading covering index futures and government bond futures; covered warrants issuance and liquidity provision; margin financing, securities lending, and advance payment facilities; custody, depository, and corporate shareholder register administration services; proprietary digital trading systems and wealth management tools delivered via the HSC ONE and myhsc platforms; equity capital markets advisory, including initial public offerings, underwriting, private equity placements, and block trades; debt capital markets advisory, encompassing corporate bond structuring, convertible debt, and syndicated loans; mergers and acquisitions advisory, corporate restructuring, and enterprise valuation services; and macroeconomic analysis, sector research, and equity strategy reporting for institutional and private clients. In recent developments, Ho Chi Minh City Securities Corporation has pursued extensive capital expansion programs to scale its financial capacity, executing major rights offerings, employee share issuances, and private placements to expand its charter capital toward VND 15.8 trillion, with proceeds designated to support margin lending operations and capital market activities. In parallel, the company has advanced its digital transformation agenda through comprehensive updates to the HSC ONE technological architecture, deploying automated account opening, AI-driven market intelligence, and upgraded risk management systems. The firm has also strengthened cross-border brokerage alliances and institutional distribution channels to capture foreign direct and indirect investment inflows aligned with Vietnam capital market modernization initiatives.