1. Vietnam Stocks

  2. •

    Producer manufacturing

  3. •

    Electrical products
Rangdong Light Source & Vacuum Flask JSC

Rangdong Light Source & Vacuum Flask JSC

HHOSE:RAL
72,700.00
VND
+100.00
(+0.14%)
18,010.58EPS
4.64P/E
1.97TMarket Cap
Rangdong Light Source & Vacuum Flask JSC
HOSE:RAL
(Ho Chi Minh Stock Exchange)

Recent

price

72,700.00

P/E

ratio

4.64

div

yld

3.11%

ROIC.AI

2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
173,350.84
177,346.58
196,019.62
218,077.94
241,486.43
283,798.22
328,256.71
366,855.21
363,554.58
357,604.2
354,883.84
270,074.46
297,872.89
Revenue per Share
4,377.36
6,259.17
9,806.49
14,291.68
13,625.7
8,347.07
22,411.87
25,590.35
25,563.57
25,123.84
25,186.9
15,336.42
18,010.58
Basic EPS, GAAP
-22,896.57
22,966.77
15,744.83
108.61
-14,749.07
-697.09
-5,351.41
-29,195.51
-54,920.04
-29,883.34
17,170.62
42,592.27
40,866.11
Free Cash Flow per Basic Share
2,684.1
2,684.1
3,067.54
3,450.98
4,217.87
3,834.43
3,834.43
1,939.8
7,625.73
4,998.23
3,503
4,761.5
2,261.45
Dividend per Share
33,632.73
36,025.92
41,074.89
49,267.83
54,816.93
55,650.64
71,974.37
86,951.23
114,247.92
126,309.91
140,293.68
144,333.38
147,923.4
Book Value per Share
31,692.3
34,126.21
39,062.64
46,950.46
52,082.62
51,926.61
67,703.2
82,502.46
111,049.93
122,656.97
136,735.28
140,623.17
144,417.93
Tangible Book Value per Share
15
15
15
15
15
15
15
16
19
23
24
24
24
Basic Weighted Avg Shares
2,599,521
2,659,440
2,939,456
3,270,237
3,621,264
4,255,760
4,922,447
5,709,068
6,909,236
8,316,322
8,356,598
6,359,557
7,014,288
Sales/Revenue/Turnover
5.3
6.19
7.55
9.18
8.2
10.04
9.9
9.63
9.99
8.66
8.68
7.94
8.46
Operating Margin (%)
61,045
45,766
50,131
54,582
69,563
86,711
89,188
97,006
97,349
95,096
98,883
106,860
97,184
Depreciation Expense
65,642
93,861
147,055
214,314
204,327
125,170
336,082
398,242
485,827
584,272
593,087
361,133
424,112
Net Income, GAAP
26.07
25.6
22.15
20.97
21.16
22.52
20.71
20.61
20.2
5.49
5.89
12.61
12.6
Effective Tax Rate (%)
2.53
3.53
5
6.55
5.64
2.94
6.83
6.98
7.03
7.03
7.1
5.68
6.05
Profit Margin (%)
308,371
349,443
391,138
537,406
511,459
537,593
785,196
955,186
2,193,057
2,534,322
2,837,628
2,696,051
2,574,017
Working Capital
846
843
837
837
837
837
837
837
837
837
837
837
837
LT Debt
504,347
540,235
615,948
738,807
822,020
834,522
1,079,308
1,369,091
2,621,695
2,974,272
3,303,554
3,398,679
3,483,214
Total Equity
- -
4.97
8.5
11.47
9.02
12.73
13.05
11.73
11.11
10.52
9.2
5.45
6.23
Return on Invested Capital (%)
- -
6.98
10.64
13.9
12.66
8.48
14.87
13.36
12.59
12.48
10.39
6.86
7.93
Return on Capital (%)
- -
17.97
25.44
31.64
26.18
15.11
35.12
32.53
24.35
20.88
18.89
10.78
12.57
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,939,342
3,089,525
3,428,755
LT Borrowings
837
837
837
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
24
24
24
Market Capitalization
2,189,910
2,032,142
1,968,564

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
7,432,677
7,632,908
8,392,628
Cash, Cash Equivalents & STI
1,851,248
2,130,663
2,485,625
Accounts Receivable, Net
2,868,014
2,940,632
2,786,404
Inventories
2,231,886
2,053,878
2,407,176
Total Current Liabilities
4,736,627
4,960,248
5,818,612
Payables & Accruals
- -
- -
- -
ST Debt
2,939,342
3,089,525
3,428,755
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
22.18%
29.15%
2.88%
Free Cash Flow
-1,268.55%
110.47%
148.05%
Net Income, GAAP
25.07%
4.63%
-39.11%
Sales/Revenue/Turnover
9.96%
6.79%
-23.9%
Total Cash Common Dividend
- -
63.94%
35.93%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,830,857
2,119,367
1,328,853
2,077,521
8,356,598
2025
1,527,870
1,189,574
1,364,581
2,277,532
6,359,557
2026
1,795,823
1,576,351
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,267
5,830
3,254
7,761
25,186.9
2025
4,284
2,965
3,433
4,654
15,336.42
2026
4,950.65
4,973
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
2,500.3
-1,497.06
3,503
2025
- -
- -
2,499.77
-238.52
4,761.5
2026
- -
- -
- -
- -
- -
Similar Companies
Lumentum Holdings Inc. (NASDAQ:LITE)
GE Vernova Inc. (NYSE:GEV)
Eos Energy Enterprises, Inc. (NASDAQ:EOSE)
NuScale Power Corporation (NYSE:SMR)
Bharat Heavy Electricals Limited (NSE:BHEL)
Astor Enerji A.S. (BIST:ASTOR)
Business
Rang Dong Light Source and Vacuum Flask Joint Stock Company (HOSE: RAL) manufactures, distributes, and exports lighting equipment, vacuum flasks, and smart ecosystem solutions in Vietnam and internationally. Founded in 1961 and headquartered in Hanoi, Vietnam, the company operates across several primary product and service segments: general LED lighting products, including LED bulbs, LED tubes, downlights, panel luminaires, ceiling fixtures, high-bay lights, floodlights, and streetlights; specialized and industrial lighting solutions, including high-tech agricultural grow lights, fishery illumination, and solar-powered renewable lighting; smart home and building automation systems marketed under the RalliSmart ecosystem, encompassing intelligent LED lighting, Bluetooth Mesh and Wi-Fi controllers, touch switches, security sensors, smart sockets, and IoT control software applications; consumer insulated ware and household products, comprising traditional glass-lined vacuum flasks, stainless steel thermal bottles, insulated jugs, glass refills, and domestic appliances; and original design manufacturing (ODM) and original equipment manufacturing (OEM) services for domestic and international clients. Rang Dong serves residential, commercial, industrial, municipal, and agricultural markets across Vietnam and exports products to more than 40 countries and territories worldwide, including the United States, Japan, South Korea, Germany, and regions across Southeast Asia, South America, and the Middle East. The company operates two major manufacturing complexes in Hanoi and Bac Ninh Province, supported by specialized research facilities including the LED Lighting R&D Center, Digital R&D Center, and Business Model R&D Center. In recent developments, Rang Dong has accelerated its dual transformation strategy integrating smart digital manufacturing with green industrial practices, connecting and analyzing real-time data across its manufacturing and assembly lines. The company has expanded its RalliSmart 4.0 ecosystem into smart city and precision agricultural platforms, expanded its Human Centric Lighting (HCL) product offerings, upgraded automated surface-mount technology (SMT) production capabilities, and restructured commercial distribution channels by integrating online-to-offline (O2O) sales models to enhance supply chain efficiency and market competitiveness.