1. Vietnam Stocks

  2. •

    Non-energy minerals

  3. •

    Steel
Hoa Sen Group

Hoa Sen Group

HHOSE:HSG
10,950.00
VND
0.00
(0.00%)
802.64EPS
14.58P/E
9.45TMarket Cap
Dec 02Next Earn
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
15,696.76
15,623.62
23,468.96
23,318.13
35,679.15
43,837.56
35,687.55
35,054.1
61,795.53
62,358.01
39,524.94
49,042.23
45,277.55
44,222.76
Basic EPS, GAAP
775.29
427.68
842.08
1,881.78
1,816.99
520.88
459.99
1,468.5
5,470.44
315.29
37.47
642.67
910.83
802.65
Free Cash Flow per Basic Share
-362.22
-2,196.98
732.45
435.93
-8,446.47
-2,830.39
5,248.59
2,179.05
1,292.59
2,986.93
1,863.02
-2,729.12
1,316.55
-3,512.68
Dividend per Share
450.9
200.34
193.55
426.18
267.93
445.56
0.29
0.03
0.39
0.49
0.01
384.09
384.28
0.27
Book Value per Share
2,994.96
3,223.62
3,879.34
5,342.77
6,530.49
6,511.35
6,952.43
8,384.34
13,640.45
13,570.91
13,442.03
13,612.78
14,025.7
14,673.57
Tangible Book Value per Share
2,677.29
2,907.76
3,486.63
4,963.01
6,155.13
6,113.2
6,645.29
8,103.98
13,363.94
13,315.9
13,208.58
13,367.81
13,752.83
14,237.92
Basic Weighted Avg Shares
749
959
744
767
733
786
786
785
789
797
801
801
807
807
Sales/Revenue/Turnover
11,759,899
14,990,361
17,467,976
17,893,715
26,149,045
34,441,429
28,034,775
27,530,750
48,726,522
49,710,636
31,650,661
39,271,894
36,537,815
35,700,016
Operating Margin (%)
7.36
4.56
7
11.94
8.05
3.67
3.49
7.07
10.47
1.17
0.56
1.08
2.04
2.78
Depreciation Expense
290,580
353,993
481,865
548,687
705,281
1,019,510
1,187,363
1,229,764
1,185,959
1,159,936
1,130,701
989,753
903,061
921,589
Net Income, GAAP
580,840
410,342
652,875
1,504,193
1,331,664
409,234
361,352
1,153,328
4,313,507
251,341
30,008
514,635
735,019
647,960
Effective Tax Rate (%)
14.46
21.6
21.56
21.11
18.93
22.68
21.79
16.18
12.25
34.06
79.41
6.63
10.94
19.99
Profit Margin (%)
4.94
2.74
3.74
8.41
5.09
1.19
1.29
4.19
8.85
0.51
0.09
1.31
2.01
1.82
Working Capital
-123,835
-467,428
-385,737
300,109
-664,533
-1,837,808
-1,411,767
30,827
4,282,914
3,825,806
4,705,946
5,541,941
4,117,405
2,882,354
LT Debt
588,027
953,821
969,894
1,418,572
2,835,804
3,461,977
2,986,132
2,162,916
1,399,362
116,526
- -
- -
- -
- -
Total Equity
2,210,436
2,379,197
2,910,722
4,129,973
5,169,802
5,151,626
5,468,281
6,590,739
10,831,794
10,883,570
10,780,166
10,916,937
11,338,628
11,871,669
Return on Invested Capital (%)
10.92
5.21
7.84
16.29
9.32
2
1.07
7.61
26.1
1.31
0.14
3.15
4.16
3.36
Return on Capital (%)
14.1
8.09
10.05
18.22
12.79
5.68
5.45
10.84
28.51
2.58
0.49
4.26
5.62
5.2
Return on Common Equity (%)
27.47
17.88
23.7
41.04
28.76
7.99
6.83
19.15
49.58
2.32
0.28
4.75
6.61
5.61

Capital Structure

VND

•

in mil. unless spec.
Dec'26
Mar'26
Jun'26
ST Debt
6,143,207
8,267,544
7,251,596
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
807
807
807
Market Capitalization
9,780,471
9,221,587
9,445,141

Working Capital

VND

•

in mil. unless spec.
Dec'26
Mar'26
Jun'26
Total Current Assets
13,455,528
14,955,051
13,206,984
Cash, Cash Equivalents & STI
925,079
1,006,493
623,246
Accounts Receivable, Net
1,593,044
2,126,186
2,408,771
Inventories
9,439,963
10,179,336
8,268,332
Total Current Liabilities
9,665,004
11,727,540
10,324,631
Payables & Accruals
- -
- -
- -
ST Debt
6,143,207
8,267,544
7,251,596
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.24%
13.8%
3.86%
Free Cash Flow
-273.64%
-67.85%
-148.61%
Net Income, GAAP
200.67%
349.92%
42.82%
Sales/Revenue/Turnover
11.97%
11.96%
-6.96%
Total Cash Common Dividend
556,201.03%
1,112,404.43%
0.82%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
9,073,224
9,248,190
10,840,381
10,108,704
39,271,894
2025
10,221,663
8,451,866
9,509,182
8,356,618
36,537,815
2026
8,383,072
8,967,069
9,993,257
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
129.06
398.19
341.42
-232.14
642.67
2025
205.04
254.47
339.13
104.92
910.83
2026
77.3
147.05
473.38
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
383.98
0.03
384.09
2025
0.04
- -
384.03
0.07
384.28
2026
0.04
0.01
0.16
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Thanh Van Vu
Full Time Employees
7,932
Sector
Non-energy minerals
Industry
Steel
Address
Di An Vietnam
IPO Date
Nov 25, 2008
Website
hoasengroup.vn
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Business
Hoa Sen Group is a Vietnam-based company engaged in the manufacturing, processing, and distribution of steel products, plastic pipes, and building materials. The company operates through several core business segments, including Steel Sheet, Steel Pipe, Plastic, and Building Materials Retail. Its primary manufactured steel offerings comprise hot-dip galvanized steel sheets, cold-rolled steel coils, prepainted galvanized steel, and Zinc-Aluminum-Magnesium alloy-coated steel sheets marketed under the Hoa Sen Mag Shield brand; hot-dip galvanized steel pipes, black steel pipes, galvanized square and rectangular hollow sections, and purlins; and related industrial steel components. In its plastic manufacturing operations, the company produces unplasticized polyvinyl chloride (uPVC) pipes and fittings, high-density polyethylene (HDPE) pipes for water supply and telecommunications infrastructure, and polypropylene random copolymer (PP-R) hot and cold water pipes, including anti-ultraviolet exterior piping systems. Through its retail and distribution platform, operating under the Hoa Sen Home brand, the company markets and distributes building materials and interior furnishings, including ceramic and porcelain tiles, decorative paint, sanitary ware, electrical equipment, lighting systems, hand tools, and power tools. Hoa Sen Group serves residential, commercial, industrial, and infrastructure construction sectors across domestic and international markets, operating a nationwide distribution network exceeding 400 retail and wholesale branches and nine manufacturing facilities in Vietnam, while exporting products to more than 90 countries and territories across Southeast Asia, the Americas, Europe, the Middle East, and Australia. In recent strategic developments, Hoa Sen Group has executed corporate restructuring initiatives to separate and scale its core business units; established Hoa Sen Home Joint Stock Company as a dedicated subsidiary to manage its retail supermarket network with plans for a future initial public offering; advanced the operational restructuring and planned public listing of its plastic manufacturing arm, Hoa Sen Plastic Joint Stock Company; incorporated regional operational entities including Hoa Sen Hai Phong One Member Limited Liability Company; and accelerated global market diversification alongside the expansion of premium corrosion-resistant alloy product lines to optimize its export footprint amid international trade defense measures. Founded on August 8, 2001, Hoa Sen Group is headquartered in Ho Chi Minh City, Vietnam, and is publicly traded on the Ho Chi Minh Stock Exchange under the ticker symbol HSG.