1. Vietnam Stocks

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    Marine shipping
Viet Nam Ocean Shipping JSC

Viet Nam Ocean Shipping JSC

HHOSE:VOS
12,100.00
VND
+100.00
(+0.83%)
1,954.71EPS
6.27P/E
1.72TMarket Cap
Viet Nam Ocean Shipping JSC
HOSE:VOS
(Ho Chi Minh Stock Exchange)

Recent

price

12,100.00

P/E

ratio

6.27

div

yld

12.97%

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
21,345.76
17,550.53
15,969.32
14,550.18
11,963.57
8,986.58
11,513.89
12,020.97
10,988.51
9,142.95
10,170.37
17,288.76
22,767.66
39,829.45
22,168.11
24,424.26
Revenue per Share
29.92
-251.17
-1,402.17
505.05
-2,127.9
-2,579.93
76.69
122.41
347.97
-1,327.87
3,736.06
3,485.3
1,109.79
2,394.68
2,176.73
1,954.71
Basic EPS, GAAP
- -
- -
- -
919.94
1,766.64
387.22
1,041.49
1,959.94
1,673.44
208.01
4,970.06
3,877.57
2,508.66
-306.22
-10,127.49
-3,016.62
Free Cash Flow per Basic Share
793.65
7.2
4.03
7.36
8.79
0.11
0.05
0.02
- -
0.01
0.4
0.05
0.17
- -
1,090.04
1,569.22
Dividend per Share
10,432.51
10,181.3
8,721.95
9,223.54
7,092.45
4,491.42
4,559.9
4,674.74
4,969.68
3,716.75
7,441.82
10,914.67
11,943.87
14,206.6
15,112.45
14,319.35
Book Value per Share
10,394.55
10,109.37
8,641.04
9,152.3
7,021.87
4,423.38
4,493.95
4,608.15
4,903.56
3,653.41
7,380.51
10,855.13
11,885.59
14,144.93
15,051.36
14,258.36
Tangible Book Value per Share
140
138
138
140
140
140
140
140
140
140
140
140
140
140
140
140
Basic Weighted Avg Shares
2,987,413
2,423,903
2,206,622
2,037,026
1,674,900
1,258,121
1,611,944
1,682,936
1,538,392
1,280,013
1,423,852
2,420,426
3,187,473
5,576,123
3,103,536
3,422,854
Sales/Revenue/Turnover
4.11
6.03
-7.6
0.3
-3.43
-18.18
-13.69
-4.31
-6.47
-11.67
23.47
22.84
1.45
-0.6
1.34
3.68
Operating Margin (%)
2,482
2,688
2,295
384,575
384,355
384,549
441,126
416,598
1,024
314,622
309,157
308,440
284,851
463,102
327,447
295,312
Depreciation Expense
4,187
-34,690
-193,751
70,708
-297,906
-361,190
10,736
17,138
48,716
-185,902
523,048
487,942
155,371
335,255
304,743
273,936
Net Income, GAAP
27.09
- -
- -
- -
- -
- -
52.87
66.6
0.45
- -
2.76
19.43
22.41
19.78
19.98
21.01
Effective Tax Rate (%)
0.14
-1.43
-8.78
3.47
-17.79
-28.71
0.67
1.02
3.17
-14.52
36.73
20.16
4.87
6.01
9.82
8
Profit Margin (%)
91,315
-230,788
-64,419
249,358
153,683
23,955
-197,032
-171,943
-348,213
-82,622
394,273
567,148
1,056,753
1,689,372
1,014,157
840,445
Working Capital
3,176,106
2,907,718
2,841,113
2,728,665
2,522,039
2,183,319
1,689,230
1,240,980
717,426
856,716
491,758
- -
- -
- -
624,437
567,946
LT Debt
1,450,711
1,416,748
1,234,546
1,306,722
1,008,864
628,799
638,386
654,464
695,755
520,346
1,041,854
1,528,054
1,672,142
1,988,924
2,115,743
2,004,709
Total Equity
- -
- -
- -
- -
- -
- -
-4.04
-1.78
-7.78
- -
21.3
26.27
3.84
1.07
1.84
4.09
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
1.25
1.35
5.93
- -
35.27
33.43
10.97
18.32
13.57
12.59
Return on Capital (%)
- -
-2.44
-14.75
5.63
-26.08
-44.54
1.69
2.65
7.22
-30.57
66.96
37.97
9.71
18.31
14.85
13.91
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
134,448
215,236
115,428
LT Borrowings
624,437
596,192
567,946
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
140
140
140
Market Capitalization
1,729,000
1,764,000
1,715,000

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,692,029
1,609,136
1,687,217
Cash, Cash Equivalents & STI
769,168
839,152
783,720
Accounts Receivable, Net
447,583
220,361
386,922
Inventories
97,181
126,975
146,059
Total Current Liabilities
677,872
663,674
846,772
Payables & Accruals
- -
- -
- -
ST Debt
134,448
215,236
115,428
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.91%
36.33%
6.38%
Free Cash Flow
540.39%
1,065.4%
3,207.21%
Net Income, GAAP
-66.9%
-69.91%
-9.1%
Sales/Revenue/Turnover
12.58%
28.7%
-44.34%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,097,453
1,872,036
1,269,851
1,336,783
5,576,123
2025
462,107
835,823
- -
955,893
3,103,536
2026
709,039
922,100
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
532
2,028
-101
-64
2,394.68
2025
-385
73
- -
1,547
2,176.73
2026
31
305
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
1,089.88
1,090.04
2026
0.48
480.17
- -
- -
- -
Similar Companies
Frontline Plc (NYSE:FRO)
ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)
DHT Holdings, Inc. (NYSE:DHT)
Great Eastern Shipping Co. Ltd. (NSE:GESHIP)
Okeanis Eco Tankers Corp. (NYSE:ECO)
International Seaways, Inc. (NYSE:INSW)
Business
Viet Nam Ocean Shipping Joint Stock Company (VOSCO) is a Vietnam-based maritime transportation and logistics company primarily engaged in ocean freight shipping, vessel chartering, and comprehensive marine support services. Founded in 1970 and headquartered in Hai Phong, Vietnam, the company operates as a key subsidiary of Vietnam National Shipping Lines (VIMC). VOSCO organizes its operations across three primary business segments: Maritime Transport, Shipping Services, and Commercial Trading. The company's core services and offerings include: dry bulk cargo transportation for commodities such as agricultural products, coal, iron ore, clinker, cement, fertilizer, and steel; liquid cargo transportation via crude oil, refined petroleum product, and chemical tankers; container liner and feeder shipping services connecting major domestic seaports and regional Asian hubs; ship agency and brokerage services; multimodal freight forwarding, customs clearance, and supply chain logistics; maritime crew management, training, and seafarer labor supply; technical ship management, vessel maintenance, and repair operations; warehousing, container depot operations, and inland container trucking; and the commercial trading of marine fuels, lubricants, technical materials, and vessel spare parts. VOSCO serves industrial manufacturers, commodity traders, energy enterprises, and global logistics providers across domestic shipping routes and international sea lanes spanning Southeast Asia, East Asia, South Asia, the Middle East, Australia, the Americas, and Africa. In recent operational developments, VOSCO has accelerated its fleet renewal and restructuring program by divesting older, less fuel-efficient bulk carriers and expanding its commercial capacity through bareboat and time-charter additions of modern Ultramax dry bulk vessels and Medium Range (MR) product and chemical tankers. In addition, the company has expanded its chemical tanker operations across international spot and period charter markets to capitalize on global freight rate trends, upgraded fleet operational standards to comply with evolving International Maritime Organization decarbonization mandates, and optimized its domestic feeder network to support growing industrial trade volumes between northern and southern Vietnamese ports.