1. Vietnam Stocks

  2. •

    Utilities

  3. •

    Electric utilities
Southern Hydropower Joint Stock Company

Southern Hydropower Joint Stock Company

HHOSE:SHP
31,400.00
VND
0.00
(0.00%)
3.33TMarket Cap
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
1,917.8
5,893.3
5,875.93
5,068.49
6,096.06
6,119.01
6,353.58
4,242.63
6,499.75
7,372.08
6,533.02
6,203.63
6,399.51
- -
Basic EPS, GAAP
1,029.75
2,087.88
1,625.99
968.87
1,830.43
1,852.79
2,138.47
626.61
2,619.73
3,172.05
2,720
2,924.03
2,947.33
- -
Free Cash Flow per Basic Share
-4,208.27
1,559.71
1,442.32
2,188.2
3,629.46
3,422.31
3,807.65
2,334.07
4,153.12
4,691.75
2,765.97
3,985.33
4,223.67
4,121.73
Dividend per Share
625.61
721.65
1,365.29
1,462.47
1,377.66
1,562.12
1,833.29
1,380.38
938.12
1,974.86
3,470.64
2,979.76
2,486.11
2,695.63
Book Value per Share
10,679.13
12,072.07
12,222.17
12,025.48
12,025.48
12,195.25
12,384.04
11,074.82
13,207.23
14,299.78
13,401.69
13,227.28
13,527.58
11,069.89
Tangible Book Value per Share
10,652.25
12,044.9
12,195.1
11,996.75
11,996.75
12,167.47
12,355.51
11,046.93
13,179.2
14,272.38
13,374.55
13,200.4
13,496.82
11,039.77
Basic Weighted Avg Shares
101
101
101
101
101
101
101
101
101
101
101
101
101
101
Sales/Revenue/Turnover
194,095
596,444
594,685
512,967
616,964
619,287
643,027
429,384
657,816
746,102
661,183
627,847
647,671
- -
Operating Margin (%)
55.6
58.31
51.25
42.18
46.86
46.2
46.9
28.06
48.74
52.66
48.4
53.14
52.72
- -
Depreciation Expense
48,670
152,701
178,354
180,518
187,253
184,802
186,175
173,262
156,425
156,367
156,052
117,990
105,230
- -
Net Income, GAAP
104,218
220,113
164,561
98,056
185,253
187,515
216,428
63,418
265,133
321,032
275,281
295,931
298,289
- -
Effective Tax Rate (%)
0.15
2.79
2.9
4.01
3.34
5.03
5.02
5.08
5.03
12.52
10.03
10.05
13.71
- -
Profit Margin (%)
53.69
36.9
27.67
19.12
30.03
30.28
33.66
14.77
40.31
43.03
41.63
47.13
46.06
- -
Working Capital
-338,555
-232,297
-12,225
2,131
2,131
-43,265
-48,825
-194,680
35,452
175,709
147,064
203,657
337,447
143,506
LT Debt
1,254,247
1,330,030
1,359,827
1,017,515
1,017,515
779,359
567,203
381,047
239,000
119,000
29,000
- -
- -
- -
Total Equity
1,080,803
1,221,778
1,236,970
1,217,063
1,217,063
1,234,245
1,253,352
1,120,850
1,336,665
1,447,228
1,356,336
1,338,685
1,369,077
1,120,343
Return on Invested Capital (%)
4.27
8.26
6.11
3.73
7.62
7.93
9.98
3.32
14.97
18.42
17.04
20.43
21.25
- -
Return on Capital (%)
4.78
12.92
10.63
8.03
11.52
11.63
13.49
6.27
17.53
20.01
18.5
21.27
21.84
- -
Return on Common Equity (%)
9.8
18.35
13.39
7.99
15.22
15.3
17.4
5.34
21.58
23.06
19.64
21.96
22.03
- -

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
101
101
101
Market Capitalization
3,446,076
3,471,378
3,329,689

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
438,335
353,725
208,379
Cash, Cash Equivalents & STI
218,696
249,981
116,716
Accounts Receivable, Net
203,325
87,847
76,491
Inventories
7,353
7,440
7,338
Total Current Liabilities
100,888
53,285
64,873
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
4.44%
2.27%
Free Cash Flow
18.43%
19.98%
5.98%
Net Income, GAAP
32.77%
66.64%
0.8%
Sales/Revenue/Turnover
3.09%
10.67%
3.16%
Total Cash Common Dividend
13.09%
24.7%
-16.57%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
56,628
99,472
232,481
239,265
627,847
2025
66,130
138,646
- -
206,533
647,671
2026
97,024
98,688
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-62.06
330.79
1,371.53
1,283.71
2,924.03
2025
130.41
581.38
- -
882.91
2,947.33
2026
371.29
315.19
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
879.09
120.02
6.1
1,974.55
2,979.76
2025
1,483.4
8.59
- -
-250.22
2,486.11
2026
989.65
1,956.19
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Ha Thanh Thang
Full Time Employees
121
Sector
Utilities
Industry
Electric utilities
Address
Ho Chi Minh City Vietnam
IPO Date
Sep 10, 2010
Website
shp.vn
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Business
Southern Hydropower Joint Stock Company is a Vietnam-based utility company primarily engaged in the generation, transmission, and wholesale distribution of renewable hydroelectric energy. The company develops, constructs, manages, and operates small- and medium-scale hydropower facilities across the Central Highlands and southern regions of Vietnam. Its core product and service portfolio includes commercial electricity generation supplied directly to the national transmission grid; operation, maintenance, and rehabilitation of hydroelectric facilities, including the 75-megawatt Da M'bri Hydropower Plant and the 34-megawatt Da Dang 2 Hydropower Plant in Lam Dong Province, along with the 12-megawatt Krong Kmar Hydropower Plant in Dak Lak Province; engineering consultancy, technical design review, and project management for energy infrastructure; maintenance, testing, and calibration services for turbine generators, transformers, high-voltage switchgear, and auxiliary electrical systems; and reservoir management, sediment control, and hydrological regulation services. Founded in 2004 and headquartered in Ho Chi Minh City, Vietnam, the company operates with strategic backing from major shareholders, including Refrigeration Electrical Engineering Corporation (REE Corporation), and sells its electricity output under long-term power purchase agreements with Vietnam Electricity (EVN) as well as through the Vietnam Wholesale Electricity Market (VWEM). In recent developments, Southern Hydropower Joint Stock Company has advanced comprehensive technical modernization programs across its plant assets, incorporating upgraded Supervisory Control and Data Acquisition (SCADA) systems and automated water monitoring solutions to maximize generation yield and turbine efficiency amid changing hydrological patterns. In addition, the company has maintained disciplined capital management, sustained high cash dividend distributions, and initiated technical assessments to explore hybrid renewable energy potential, including floating solar installations across its existing reservoir footprints.