1. Vietnam Stocks

  2. •

    Non-energy minerals

  3. •

    Steel
Hoa Phat Group JSC

Hoa Phat Group JSC

20,950.00
VND
-300.00
(-1.41%)
178.84TMarket Cap
Dec 02Next Earn
Hoa Phat Group JSC
HOSE:HPG
(Ho Chi Minh Stock Exchange)

Recent

price

20,950.00

P/E

ratio

- -

div

yld

2.29%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
2,060.59
2,916.64
2,283.03
2,519.16
3,396.44
3,653.17
4,730.99
5,909.26
6,613.43
7,539.67
10,673.64
17,728.13
16,748.56
14,088.87
16,446.16
18,490.57
- -
Revenue per Share
194.88
202.01
134.87
260
418.38
463.81
938.45
1,024.95
1,015.41
891.55
1,593.05
4,083.6
1,004.79
809.55
1,423.83
1,830.29
- -
Basic EPS, GAAP
-84.01
-231.93
59.87
41.58
212.53
153.88
483.54
-360.57
-2,363.15
-1,552.77
-38.9
1,788.38
-664.43
-1,034.09
-3,421.37
-992.83
203.12
Free Cash Flow per Basic Share
92.14
0.47
49.09
55.95
90.67
71.95
156.7
0.48
0.7
1.5
168.12
200.53
267.85
0.95
0.59
4.33
480.24
Dividend per Share
862.1
1,012.43
1,090.74
1,281.65
1,591.36
1,921.91
2,627.41
3,824.47
4,796.32
5,640.5
6,996.36
10,733.73
11,371.15
12,172.19
13,544.45
15,300.34
18,351.7
Book Value per Share
715.67
859.8
953.36
1,178.87
1,515.51
1,887.97
2,593.15
3,796.05
4,760.14
5,601.35
6,961.19
10,665.76
11,285.66
12,138.2
13,515.1
15,272.07
18,319.25
Tangible Book Value per Share
6,924
6,121
7,370
7,516
7,515
7,515
7,035
7,812
8,443
8,443
8,443
8,443
8,443
8,443
8,443
8,443
8,251
Basic Weighted Avg Shares
14,267,084
17,851,897
16,826,852
18,934,292
25,525,349
27,452,932
33,283,210
46,161,692
55,836,458
63,658,193
90,118,503
149,679,790
141,409,274
118,953,028
138,855,112
156,116,095
- -
Sales/Revenue/Turnover
14.05
12.62
9.82
13.81
16.51
15.79
23.6
20.84
18.89
15.31
19
25.16
9.25
8.13
10.53
13.08
- -
Operating Margin (%)
449,693
666,501
721,319
995,219
1,354,405
1,572,582
1,674,326
2,004,657
2,285,645
2,593,233
4,793,857
6,082,504
6,772,141
6,774,033
6,927,967
8,470,683
- -
Depreciation Expense
1,349,314
1,236,438
994,024
1,954,188
3,144,253
3,485,463
6,602,102
8,006,672
8,573,014
7,527,443
13,450,300
34,478,143
8,483,511
6,835,064
12,021,444
15,453,174
- -
Net Income, GAAP
12.01
12.91
15.41
16.04
13.78
12.17
14.23
13.71
14.6
16.69
12.05
6.84
14.9
12.73
12.22
14
- -
Effective Tax Rate (%)
9.46
6.93
5.91
10.32
12.32
12.7
19.84
17.34
15.35
11.82
14.93
23.03
6
5.75
8.66
9.9
- -
Profit Margin (%)
1,729,612
2,839,064
2,858,779
1,259,994
2,779,527
1,922,344
6,197,766
14,548,338
2,672,576
3,452,739
4,772,041
20,695,544
18,129,318
11,202,946
11,449,033
9,473,134
14,931,914
Working Capital
1,544,868
1,869,050
1,455,709
1,831,824
1,010,864
739,000
972,200
1,651,495
12,810,997
19,842,099
17,343,248
13,464,932
11,151,651
10,399,119
27,080,443
27,479,194
27,096,594
LT Debt
6,737,989
7,963,631
8,577,558
9,586,960
11,965,340
14,466,710
19,850,261
32,397,580
40,622,950
47,786,636
59,219,786
90,780,626
96,112,940
102,836,419
114,647,458
131,220,011
141,516,027
Total Equity
12.07
9.68
6.85
12.15
17.89
17.57
27.03
21.93
15.47
10.01
13.53
26.25
5.49
4.12
6.32
7.25
- -
Return on Invested Capital (%)
15.67
13.8
9.59
13.79
18.62
18.42
28.71
23.47
16.33
11.05
15.49
28.15
7.38
6.21
7.67
8.58
- -
Return on Capital (%)
24.05
17.9
12.83
22.23
29.53
26.57
38.62
30.78
23.56
17.08
25.21
46.06
9.09
6.88
11.07
12.69
- -
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
64,694,957
62,799,568
71,433,383
LT Borrowings
27,479,194
27,817,253
27,096,594
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
8,443
8,443
7,675
Market Capitalization
202,632,299
206,470,031
178,838,354

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
103,659,403
104,365,181
119,968,989
Cash, Cash Equivalents & STI
27,785,303
35,722,684
37,255,951
Accounts Receivable, Net
10,971,774
10,919,196
12,869,808
Inventories
52,828,227
43,515,585
55,607,877
Total Current Liabilities
94,186,268
86,369,839
105,037,075
Payables & Accruals
- -
- -
- -
ST Debt
64,694,957
62,799,568
71,433,383
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
25.95%
18.42%
14.46%
Free Cash Flow
-413.17%
-923.92%
-70.98%
Net Income, GAAP
35.02%
33.19%
28.55%
Sales/Revenue/Turnover
21.03%
14.77%
12.43%
Total Cash Common Dividend
1,184.97%
110.05%
635.04%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
30,852,360
39,555,510
33,956,260
34,490,982
138,855,112
2025
37,621,675
35,910,519
- -
46,176,485
156,116,095
2026
52,900,847
55,158,902
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
339.99
393.13
358.04
332.66
1,423.83
2025
396.1
504.14
- -
457.3
1,830.29
2026
1,065.26
830.05
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.19
0.28
0.59
2025
- -
0.42
- -
3
4.33
2026
0.43
512.49
- -
- -
- -
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Business
Hoa Phat Group Joint Stock Company is an industrial manufacturing conglomerate based in Vietnam, primarily engaged in the production, processing, and distribution of iron and steel products. Founded in 1992 and headquartered in Hanoi, Vietnam, the company operates across five core business segments: Iron and Steel, Steel Products, Agriculture, Home Appliances, and Real Estate. The Iron and Steel segment manufactures crude and finished steel products, including hot-rolled coils; construction steel consisting of rebar, wire rods, and round bars; steel billets; and specialty steel grades. The Steel Products division fabricates downstream industrial items, comprising welded and galvanized steel pipes; galvanized, pre-painted, and cold-rolled steel sheets; prestressed concrete steel wire and strands; drawn steel wire; and standard ISO dry sea freight shipping containers manufactured from weather-resistant SPA-H grade steel. The Agriculture segment operates in the processing and supply of animal and poultry feed; commercial pig breeding and pork processing; beef cattle farming; and commercial poultry farming, specifically clean chicken egg production. The Home Appliances segment designs, manufactures, and distributes consumer appliances under the Hoa Phat and Funiki brand names, including residential and commercial air conditioners; refrigerators and chest freezers; water purifiers; washing machines; dishwashers; and induction and infrared cookers. The Real Estate division develops and manages industrial parks, commercial complexes, and urban residential projects, while providing infrastructure rental and utility management services. Hoa Phat Group serves a broad domestic and international client base, including civil and infrastructure construction contractors, automotive and industrial manufacturers, global shipping logistics companies, agricultural distributors, and retail consumers. The company maintains extensive integrated production facilities across Vietnam, anchored by the Dung Quat Iron and Steel Complex in Quang Ngai Province and the Hai Duong Iron and Steel Complex, with distribution networks spanning the domestic market and export channels to more than 40 countries across Southeast Asia, East Asia, North America, Europe, and Australia. In recent strategic developments, the group is executing a multi-billion-dollar expansion with the construction of the Dung Quat 2 Integrated Iron and Steel Complex, designed to add 5.6 million metric tons of annual crude steel capacity with a dedicated focus on premium hot-rolled coils and high-speed railway rails. Operational milestones include the progressive commissioning of basic oxygen furnaces, continuous slab casters, and vacuum refining systems engineered with international technology partners, as well as the commercial scale-up of its container manufacturing division, marked by container supply deliveries to international maritime carriers such as CMA CGM. Additionally, the group is accelerating green industrial initiatives across its manufacturing hubs through the deployment of solar power installations, adoption of electrified transport equipment, and enhanced waste-energy recovery systems.