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    Real estate development
Vincom Retail JSC

Vincom Retail JSC

HHOSE:VRE
25,300.00
VND
+350.00
(+1.40%)
64.76TMarket Cap
Oct 28Next Earn
Vincom Retail JSC
HOSE:VRE
(Ho Chi Minh Stock Exchange)

Recent

price

25,300.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
2,742.11
3,391.18
3,917.85
3,980.97
3,665.38
2,592.57
3,239.62
4,309.57
3,934.47
3,889.69
- -
Revenue per Share
701.15
791.18
1,032.45
1,225.98
1,048.2
578.49
1,221.68
1,940.4
1,802.72
2,837.11
- -
Basic EPS, GAAP
-207.8
-2,719.02
427.6
-148.61
-156.16
60.75
1,114.96
-1,949.72
-1,511.59
-2,618.16
-2,990.35
Free Cash Flow per Basic Share
345.11
775.28
- -
1,053.89
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
8,041.63
11,191.62
12,224.08
11,846.77
12,894.98
13,473.46
14,695.27
16,636.56
18,449.12
21,285.84
21,700.6
Book Value per Share
7,757.95
10,940.17
12,007.13
11,657.47
12,739.09
13,352.92
14,607.4
16,572.91
18,286.09
21,153.9
21,572.82
Tangible Book Value per Share
2,329
1,627
2,329
2,326
2,272
2,272
2,272
2,272
2,272
2,272
2,272
Basic Weighted Avg Shares
6,385,889
5,518,240
9,123,952
9,259,257
8,328,918
5,891,141
7,361,437
9,791,335
8,939,117
8,837,380
- -
Sales/Revenue/Turnover
30.79
40.44
31.68
38.7
37.13
29.83
44.47
46.63
42.2
44.05
- -
Operating Margin (%)
736,863
936,047
1,156,999
1,447,324
1,482,557
1,492,420
1,451,929
1,453,931
1,379,104
1,381,295
- -
Depreciation Expense
2,436,561
2,027,447
2,404,386
2,851,480
2,381,855
1,314,510
2,776,057
4,408,600
4,095,780
6,445,924
- -
Net Income, GAAP
5.73
6.5
20.95
20.25
20.4
22.29
21.2
20.22
20.21
20.26
- -
Effective Tax Rate (%)
38.16
36.74
26.35
30.8
28.6
22.31
37.71
45.03
45.82
72.94
- -
Profit Margin (%)
4,653,994
5,218,350
862,794
290,144
3,474,529
3,936,524
4,715,192
3,791,584
6,391,684
2,787,195
3,476,233
Working Capital
5,954,349
3,158,123
2,762,382
2,765,306
5,706,162
3,137,924
2,121,300
2,143,780
2,523,103
6,380,455
6,386,715
LT Debt
24,683,385
26,094,055
28,509,281
26,953,507
29,335,816
30,650,829
33,424,690
37,826,853
41,922,641
48,368,203
49,310,673
Total Equity
- -
6.52
7.42
9.18
7.06
3.7
7.58
10.64
8.33
11.72
- -
Return on Invested Capital (%)
- -
8.03
8.49
10.12
8.44
4.82
8.6
11.92
10.31
13.84
- -
Return on Capital (%)
- -
5.75
8.82
10.3
8.47
4.39
8.67
12.38
10.27
14.28
- -
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
20,626
20,029
19,451
LT Borrowings
6,208,269
6,368,966
6,214,090
LT Finance Leases
172,186
- -
172,625
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,272
2,272
2,272
Market Capitalization
76,463,514
58,512,199
64,761,075

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
7,961,052
8,182,621
9,168,895
Cash, Cash Equivalents & STI
4,567,856
3,922,302
5,842,666
Accounts Receivable, Net
1,319,815
834,959
1,206,800
Inventories
236,158
222,141
209,256
Total Current Liabilities
5,173,857
3,256,310
5,692,662
Payables & Accruals
- -
- -
- -
ST Debt
20,626
20,029
19,451
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
10.58%
15.37%
Free Cash Flow
- -
274.48%
73.21%
Net Income, GAAP
- -
35.09%
57.38%
Sales/Revenue/Turnover
- -
3.77%
-1.14%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,254,643
2,478,598
2,077,717
2,128,159
8,939,117
2025
2,131,424
2,142,630
- -
2,312,326
8,837,380
2026
2,293,618
2,373,871
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
476.42
449.53
398.89
477.63
1,802.72
2025
518
542.73
- -
1,170.1
2,837.11
2026
707
707.88
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Vincom Retail Joint Stock Company is a Vietnam-based company primarily engaged in the investment, development, ownership, and management of retail commercial real estate properties. The company operates through two main business segments: Leasing of Retail Properties and Rendering of Related Services, and Sale of Integrated Real Estate Properties. Its core offerings include the leasing of retail spaces across four distinct shopping mall formats: Vincom Center, comprising flagship urban commercial centers located in prime downtown business districts of major metropolitan areas; Vincom Mega Mall, consisting of large-scale regional destination entertainment and shopping malls located within master-planned integrated urban developments; Vincom Plaza, encompassing community-scale lifestyle shopping centers situated in provincial cities and suburban urban districts; and Vincom+, comprising convenience and neighborhood retail centers positioned in high-density peri-urban residential areas. In addition to retail space leasing for international and domestic brands across apparel, beauty, dining, entertainment, supermarkets, and consumer electronics, the company provides comprehensive property management, maintenance, security, and promotional services; develops and sells integrated commercial shophouses adjacent to provincial retail complexes; and offers event hosting, in-mall advertising, and specialty pop-up leasing solutions. Headquartered in Hanoi, Vietnam, and established in 2012, Vincom Retail operates an extensive nationwide footprint spanning major metropolitan centers and provincial markets across Vietnam. In recent developments, the company underwent a major corporate ownership restructuring following parent conglomerate Vingroup Joint Stock Company's divestment of its controlling stake in SDI Trading Development and Investment Joint Stock Company, transitioning Vincom Retail to a diversified consortium of institutional investors while preserving brand identity and strategic alignment with the broader Vingroup commercial ecosystem. Additionally, the company has continued its nationwide portfolio expansion with the inauguration of new generation retail developments, including Vincom Mega Mall Grand Park in Ho Chi Minh City and new provincial Vincom Plaza centers, while rolling out tenant-focused Life-Design Mall experiential formats, nationwide rooftop solar installations, and comprehensive electric vehicle charging infrastructure across its shopping centers.