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    Electric utilities
Thac Mo Hydro Power JSC

Thac Mo Hydro Power JSC

HHOSE:TMP
52,200.00
VND
-700.00
(-1.32%)
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
7,094.83
9,818.84
8,071.12
6,408.83
10,001.52
12,664.72
9,612.3
6,331.59
10,690.34
15,290.09
12,200.57
10,908.99
10,743.53
- -
Basic EPS, GAAP
2,234.14
3,418.95
2,985.42
1,480.52
4,487.84
7,245.07
5,357.98
2,550.32
5,045.96
8,190.77
6,499.78
5,005.06
4,535.04
- -
Free Cash Flow per Basic Share
3,458.62
3,002.91
3,445.22
2,031.91
6,655.81
6,425.62
3,684.64
-3,548.18
2,736.73
7,378.46
285.33
9,321.11
6,233.19
3,914.09
Dividend per Share
1,486.23
2,005.84
2,492.84
2,551.85
3,874.35
2,978.68
3,008.2
1,507.99
83.22
3,897.58
7,379.39
5,765.02
1,294.83
1,073.03
Book Value per Share
13,388.38
14,724.58
15,084.17
13,352.24
14,412.07
18,519.78
20,760.34
21,691.81
19,390.71
23,502.47
22,106.25
21,454.9
23,651.68
25,900.22
Tangible Book Value per Share
13,212.12
14,453.91
14,821.97
13,097.65
14,166
18,282.21
20,529.57
21,470.26
19,225.53
23,332.32
21,925.2
21,263.08
23,458.76
25,718.73
Basic Weighted Avg Shares
70
70
70
70
70
70
70
70
70
70
70
70
70
70
Sales/Revenue/Turnover
496,638
687,319
564,978
448,618
700,107
886,530
672,861
443,211
748,324
1,070,306
854,040
763,629
752,047
- -
Operating Margin (%)
47.34
49.37
48.38
35.9
54.79
63.74
62.38
44.49
53.99
62.41
56.81
50.08
44.65
- -
Depreciation Expense
141,945
144,845
137,517
142,957
127,778
69,579
44,878
38,969
88,848
90,703
92,762
97,847
99,958
103,656
Net Income, GAAP
156,390
239,327
208,979
103,637
314,149
507,155
375,058
178,523
353,217
573,354
454,984
350,354
317,453
- -
Effective Tax Rate (%)
23.16
22.8
20.51
14.63
18.74
19.03
19.03
19.3
16.34
18.01
17
16.55
16.43
- -
Profit Margin (%)
31.49
34.82
36.99
23.1
44.87
57.21
55.74
40.28
47.2
53.57
53.27
45.88
42.21
- -
Working Capital
235,583
492,444
541,619
381,107
558,351
844,256
991,696
756,015
595,869
891,791
789,743
738,938
858,489
1,020,824
LT Debt
234,738
343,376
373,050
184,710
162,710
140,710
120,000
332,365
413,710
359,978
311,874
259,970
207,916
182,489
Total Equity
973,022
1,066,120
1,094,454
977,036
1,057,673
1,345,362
1,501,130
1,562,786
1,401,865
1,687,947
1,586,881
1,539,905
1,693,031
1,846,350
Return on Invested Capital (%)
11.62
16.99
14.03
7.98
26.04
35.42
22.91
10.08
18.89
28.27
21.85
17.98
16.38
- -
Return on Capital (%)
14.09
19
15.31
9.6
26.57
37.26
24.16
10.21
19.92
30.06
23.6
19.22
17.25
- -
Return on Common Equity (%)
17.06
24.32
20.03
10.41
32.33
44
27.28
12.02
24.56
38.19
28.5
22.98
20.11
- -

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
52,054
39,040
51,454
LT Borrowings
207,916
207,916
182,489
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
70
70
70
Market Capitalization
4,179,000
3,850,000
3,325,000

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,189,905
1,077,081
1,173,986
Cash, Cash Equivalents & STI
927,592
740,227
878,445
Accounts Receivable, Net
219,002
243,936
201,911
Inventories
2,081
714
807
Total Current Liabilities
331,416
127,556
153,161
Payables & Accruals
- -
- -
- -
ST Debt
52,054
39,040
51,454
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.15%
2.22%
9.94%
Free Cash Flow
297.41%
606%
-33.13%
Net Income, GAAP
24.29%
21.43%
-9.39%
Sales/Revenue/Turnover
8.34%
15.91%
-1.52%
Total Cash Common Dividend
446.11%
895.78%
-77.54%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
112,064
162,657
255,995
232,913
763,629
2025
134,657
185,952
- -
193,178
752,047
2026
159,608
191,121
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
547.1
1,061.45
1,857.6
1,538.91
5,005.06
2025
731.16
1,203.93
- -
1,058.1
4,535.04
2026
920.82
1,505.22
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,670.88
285.6
17.37
1,791.17
5,765.02
2025
7.22
78.28
- -
4.21
1,294.83
2026
1,033.91
34.91
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Non Van Nguyen
Full Time Employees
154
Sector
Utilities
Industry
Electric utilities
Address
Binh Phuoc Vietnam
IPO Date
Jun 25, 2009
Website
tmhpp.com.vn
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Business
Thac Mo Hydro Power Joint Stock Company is a Vietnam-based utility company primarily engaged in the generation, transmission, and wholesale supply of renewable electricity. The company operates as a subsidiary of Power Generation Joint Stock Corporation 2 (EVNGENCO2) within the Vietnam Electricity (EVN) network. Founded in 1994, equitized as a joint stock company in 2006, and headquartered in Phuoc Long Town, Binh Phuoc Province, Vietnam, the company supplies clean electric power to the national grid and serves industrial and residential consumers across southeastern Vietnam, including Binh Phuoc, Binh Duong, Tay Ninh, and Dak Nong provinces. Thac Mo Hydro Power Joint Stock Company operates through three core business segments: Power Generation, Technical Engineering Services, and Consulting and Support Services. Its portfolio of products and services comprises: Hydroelectric Power Generation, delivered via the 225-megawatt (MW) Thac Mo Hydropower Plant comprising an initial 150 MW installation and a 75 MW expansion project; Solar Power Generation, delivered through the 50-megawatt-peak (MWp) Thac Mo Solar Power Plant located in Bu Gia Map District, Binh Phuoc Province; Technical Operations and Maintenance Services, including the inspection, maintenance, overhaul, repair, testing, and calibration of hydro turbine generators, high-voltage transformers, switchgear, hydraulic structures, and electrical auxiliary systems; Electrical Engineering and Construction Services, covering the installation and commissioning of substations, medium-to-high voltage transmission lines, and power distribution systems; Engineering Consultancy and Supervisory Services, providing project feasibility assessments, design consultancy, construction supervision, and technical inspections for power and civil infrastructure; Professional Technical Training Services, offering vocational certification and operational training programs for power plant technicians and control engineers; and Ancillary Support Services, encompassing reservoir water management, industrial facility leasing, and equipment rentals. In recent corporate developments, Thac Mo Hydro Power Joint Stock Company has accelerated the digital transformation of its power generation infrastructure; integrated unmanned aerial vehicles (UAVs) equipped with artificial intelligence analytics for automated thermal imaging, structural inspection, and predictive maintenance at its 50 MWp solar power plant; implemented modern digital testing and protection systems compliant with IEC 61850 international standards across its electrical substations; conducted major maintenance overhauls and equipment modernizations across its core hydropower units to optimize operational safety, generation efficiency, and downstream flood and drought management; and executed executive management appointments, including the designation of Nguyen Le Hoang as General Director to lead the company’s operational modernization and renewable asset optimization strategies.