Vinh Hoan Corp

Vinh Hoan Corp

HHOSE:VHC
51,500.00
VND
-300.00
(-0.58%)
12.46TMarket 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
23,276.32
28,694.38
29,279.91
32,969.47
36,797.27
41,806.16
35,517.26
32,231.08
41,277.9
59,951.59
44,781.62
55,747.91
53,556.38
- -
Basic EPS, GAAP
723.58
2,002.59
1,454.48
2,558.35
2,729.75
6,503.07
5,323.3
3,294.51
5,010.1
8,950.2
4,102.74
5,463.08
6,318.76
- -
Free Cash Flow per Basic Share
-619.79
-1,358.59
-913.77
2,704.71
924.6
-155.75
5,018.6
-744.17
-1,167.45
2,142.55
-580.03
6,217.28
8,894.09
3,024.82
Dividend per Share
20.59
767.88
416.52
1,041.24
- -
1,638.55
835.15
1,666.52
- -
1,661.75
- -
3,999.9
1,999.85
- -
Book Value per Share
6,772.53
8,431.79
9,365.39
10,775.52
13,283.1
18,105.21
22,329.33
23,687.16
26,480.32
34,458.03
37,477.19
38,650.83
42,819.57
44,797.79
Tangible Book Value per Share
6,375.41
7,888.67
8,802.99
9,951.5
12,059.65
16,605.25
20,823.53
22,132.43
23,784.86
31,884.2
34,388.26
35,703.8
39,485.08
41,128.31
Basic Weighted Avg Shares
219
219
222
222
222
222
222
218
219
221
224
224
224
223
Sales/Revenue/Turnover
5,095,012
6,292,449
6,493,390
7,303,546
8,151,497
9,271,329
7,867,144
7,037,180
9,054,249
13,230,800
10,033,016
12,512,793
12,020,898
- -
Operating Margin (%)
6.99
6.62
6.66
9.56
9.48
18.21
14.55
10.06
13.46
16.71
10.45
10.29
12.87
- -
Depreciation Expense
110,824
120,831
144,362
146,838
198,846
156,302
165,204
202,679
284,992
326,932
402,253
456,179
484,455
491,093
Net Income, GAAP
158,386
439,152
322,558
566,737
604,706
1,442,182
1,179,123
719,308
1,098,959
1,975,232
919,191
1,226,205
1,418,266
- -
Effective Tax Rate (%)
22.64
21.15
17.03
15.91
16.35
14.55
9.95
10.45
13.52
13.35
14.96
12.26
13.87
- -
Profit Margin (%)
3.11
6.98
4.97
7.76
7.42
15.56
14.99
10.22
12.14
14.93
9.16
9.8
11.8
- -
Working Capital
758,721
584,923
1,028,347
1,231,359
1,333,602
1,889,597
2,895,698
2,794,477
2,862,523
3,942,228
4,655,242
5,054,725
6,010,719
5,695,145
LT Debt
84,116
63,547
438,485
518,216
402,300
- -
- -
69,208
156,425
174,909
101,863
- -
- -
- -
Total Equity
1,556,282
1,886,758
2,089,329
2,393,114
2,942,616
4,015,182
4,877,280
5,175,731
5,883,949
7,694,388
8,591,056
8,993,606
10,044,874
9,817,405
Return on Invested Capital (%)
7.12
15.09
8.17
14.68
14.65
29.63
20.61
11.95
15.64
22.1
8.91
11.4
12.61
- -
Return on Capital (%)
8.34
14.52
9.04
16.37
16.35
30.92
22.36
12.46
15.88
22.64
9.34
10.98
11.78
- -
Return on Common Equity (%)
11.33
26.31
16.35
25.39
22.69
41.46
26.53
14.32
20.07
29.69
11.58
14.41
15.51
- -

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,046,146
2,300,004
2,469,901
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
224
224
209
Market Capitalization
12,591,822
13,242,736
12,462,463

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
9,321,970
9,682,982
9,402,120
Cash, Cash Equivalents & STI
4,385,745
4,036,942
3,193,631
Accounts Receivable, Net
1,633,825
2,024,481
2,194,876
Inventories
2,784,994
2,883,391
3,183,160
Total Current Liabilities
3,311,251
3,372,748
3,706,975
Payables & Accruals
- -
- -
- -
ST Debt
2,046,146
2,300,004
2,469,901
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.4%
14.5%
11.69%
Free Cash Flow
-549.66%
-297.06%
43.05%
Net Income, GAAP
29.18%
25.62%
15.66%
Sales/Revenue/Turnover
8.35%
14.28%
-3.93%
Total Cash Common Dividend
- -
- -
-50%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,855,768
3,195,660
3,277,906
3,183,458
12,512,793
2025
2,647,814
3,192,433
- -
2,714,953
12,020,898
2026
2,954,597
3,444,379
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
755.9
1,400
1,276
1,865
5,463.08
2025
861.69
2,183
- -
992
6,318.76
2026
1,188.01
2,133
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
6.62
1,996.02
3,999.9
2025
- -
- -
- -
- -
1,999.85
2026
- -
- -
- -
- -
- -

Company Description

CEO
Vi Tam Ngo Nguyen
Sector
Consumer non-durables
Industry
Food: meat/fish/dairy
Address
Cao Lanh Vietnam
IPO Date
Sep 7, 2007
Business
Vinh Hoan Corporation is a Vietnam-based vertically integrated aquaculture and food processing company primarily engaged in the farming, processing, and export of pangasius (basa) fish and value-added agricultural and wellness products. Founded in 1997 and headquartered in Cao Lanh, Dong Thap Province, Vietnam, the company manages fully integrated operations spanning aquafeed manufacturing, hatchery and fingerling breeding, sustainable farming, processing facilities, cold storage logistics, and global distribution. Vinh Hoan Corporation distributes its products to commercial food service operators, retailers, food manufacturers, and pharmaceutical companies across more than 50 countries, including the United States, the European Union, China, Japan, and Canada. The company is listed on the Ho Chi Minh Stock Exchange under the ticker symbol VHC. The company offers products and services across multiple operating segments: Frozen Seafood, comprising skinless, boneless, untreated, and well-trimmed pangasius fillets, portions, steaks, loins, and whole gutted fish; Value-Added Seafood Products, including breaded, battered, marinated, skewer-ready, and fully cooked pangasius items such as kabayaki-glazed fish, as well as surimi paste, imitation crab sticks, and seafood cake formulations; Wellness and Functional Ingredients, marketed primarily under the Vinh Wellness brand, consisting of pharmaceutical- and cosmetic-grade hydrolyzed marine collagen peptides and gelatin extracted from pangasius skin, alongside by-products including fish meal, crude and refined fish oil, and organic fish fertilizer; Packaged Food and Snacks, produced through its subsidiary Sa Giang Import Export Corporation, comprising traditional shrimp chips, prawn crackers, rice paper, pho noodles, and instant rice vermicelli; Agricultural and Processed Produce, managed via its subsidiary Thanh Ngoc Agricultural Food Co., Ltd., comprising Individually Quick Frozen (IQF) fruits and vegetables, freeze-dried produce, fruit purees, and fruit juices; and Aquaculture Support and Feed Manufacturing, operated through Feed One Co., Ltd., encompassing formulated aquatic feeds, fingerling development, and veterinary support services for contract and corporate farming facilities. In recent operational developments and strategic initiatives, Vinh Hoan Corporation has advanced its circular economy model by expanding high-value extraction capabilities and diversifying its product matrix beyond standard frozen fillets. The company has allocated significant capital expenditure toward expanding the production capacity of its Vinh Wellness collagen and gelatin processing plants and commissioning dedicated manufacturing lines for finished nutraceutical dosage forms, including collagen gummies, softgels, and functional health formulations. Furthermore, the company has completed capacity expansions at Feed One Co., Ltd. to increase self-sufficiency in specialized fingerling feed, upgraded processing automation across its core fillet plants to meet stringent international food safety standards, and scaled operations at its Thanh Ngoc fruit and vegetable processing complex. In its seafood operations, the company has operationalized dedicated surimi production lines to maximize raw material utilization and reduce industrial waste. Vinh Hoan Corporation has also deepened commercial integration with Sa Giang Import Export Corporation to cross-sell ambient food products through international retail channels, while broadening market access across North America, Europe, Asia-Pacific, and Latin America.