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    Marine shipping
Vietnam Container Shipping JSC

Vietnam Container Shipping JSC

HHOSE:VSC
14,550.00
VND
+250.00
(+1.75%)
7.11TMarket Cap
Dec 02Next Earn
Vietnam Container Shipping JSC
HOSE:VSC
(Ho Chi Minh Stock Exchange)

Recent

price

14,550.00

P/E

ratio

- -

div

yld

-2.09%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
VND
3,900.61
3,480.56
4,052.57
4,096.35
3,826.6
3,983.71
4,646.48
5,594.13
7,275.53
7,697.56
7,251.5
7,387.01
7,150.4
12,167.03
9,241.13
8,627.56
- -
Revenue per Share
1,489.06
1,031.95
1,188.75
1,243.9
962.62
1,082.69
971.58
1,018.79
1,289.87
1,004.63
1,029.23
1,366.21
1,119.52
689.67
1,114.27
917.74
- -
Basic EPS, GAAP
- -
- -
- -
- -
-315.63
-1,158.49
-614.77
183.18
1,429.99
1,474.89
1,864.86
2,156.37
1,191.08
3,554.02
-3.28
-1,193.9
- -
Free Cash Flow per Basic Share
310.41
382.36
494.36
463.28
209.09
252.64
373.04
389.77
431.19
511.62
734.63
437.73
585.62
392.69
451.15
692.45
-303.53
Dividend per Share
4,607.76
2,788.36
3,264.95
3,808.71
4,562.52
5,421.48
5,790.38
6,305.84
7,059.18
7,433.09
7,714.65
7,839.04
10,538.99
10,872.42
12,611.05
14,463.12
14,919.44
Book Value per Share
4,607.24
2,765.55
3,219.33
3,762.37
4,516.5
5,360.45
5,742.76
6,258.82
7,013.75
7,394.58
7,682.97
7,814.87
10,501.06
10,832.12
5,052.93
7,571.32
8,200.57
Tangible Book Value per Share
116
185
192
193
233
233
233
233
233
233
233
256
281
179
302
372
374
Basic Weighted Avg Shares
451,055
644,208
779,417
791,875
891,242
927,823
1,082,174
1,302,883
1,694,460
1,792,751
1,688,865
1,892,131
2,007,397
2,180,945
2,787,913
3,205,512
- -
Sales/Revenue/Turnover
37.73
31.63
30.26
33.92
29.59
34.63
30.62
25.48
23.97
18.98
19.17
25
23.62
19.62
18.07
21.51
- -
Operating Margin (%)
- -
- -
- -
- -
73,376
89,729
177,444
197,440
226,988
232,078
233,231
200,434
201,527
193,368
254,230
381,773
- -
Depreciation Expense
172,190
191,000
228,629
240,461
248,084
279,258
251,282
237,279
300,409
233,978
239,706
349,945
314,294
123,623
336,160
340,980
- -
Net Income, GAAP
16.15
- -
21.18
20.86
17.96
20.06
15.82
11.61
8.74
16.48
11.75
14.27
17.57
24.93
17.16
22.92
- -
Effective Tax Rate (%)
38.17
29.65
29.33
30.37
27.84
30.1
23.22
18.21
17.73
13.05
14.19
18.49
15.66
5.67
12.06
10.64
- -
Profit Margin (%)
275,073
381,124
280,041
254,089
210,699
210,890
308,438
123,208
331,737
376,508
608,342
624,390
872,079
942,945
1,096,536
986,106
128,208
Working Capital
6,851
- -
31,389
8,939
9,061
417,577
585,340
400,265
273,031
64,057
- -
- -
700,000
1,449,749
1,650,299
2,992,362
4,005,042
LT Debt
531,223
642,933
757,392
883,525
1,215,881
1,431,172
1,515,491
1,709,546
1,944,570
2,070,078
2,170,698
2,447,074
3,201,200
3,294,307
4,896,116
6,386,601
7,260,764
Total Equity
32.35
38.08
30.64
25.61
22.77
17.58
12.91
11.94
15.74
13.11
13.44
17.95
12.08
4.46
7.72
-5.31
- -
Return on Invested Capital (%)
27.85
23.82
23.33
28.59
23.42
18.32
13.81
11.6
12.47
8.91
8.54
12.46
7.21
3.93
6.43
3.96
- -
Return on Capital (%)
36.1
32.53
32.65
29.31
23.09
21.73
17.33
16.84
19.3
13.86
13.59
18.08
12.92
4.36
9.08
6.86
- -
Return on Common Equity (%)

Capital Structure

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2,381,152
2,528,482
2,498,514
LT Borrowings
2,929,107
3,363,261
4,005,042
LT Finance Leases
63,255
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
374
374
374
Market Capitalization
7,468,689
8,872,578
7,113,037

Working Capital

VND

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,001,843
3,771,658
3,145,692
Cash, Cash Equivalents & STI
2,253,265
2,046,457
1,862,670
Accounts Receivable, Net
214,387
222,108
221,140
Inventories
49,551
54,370
60,564
Total Current Liabilities
3,015,737
3,426,885
3,017,484
Payables & Accruals
- -
- -
- -
ST Debt
2,381,152
2,528,482
2,498,514
Deferred Revenue
- -
- -
- -

Growth Rates

VND

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.93%
25.1%
30.44%
Free Cash Flow
4,522.71%
8,938.72%
44,715.53%
Net Income, GAAP
13.98%
29.7%
1.43%
Sales/Revenue/Turnover
13.67%
13.92%
14.98%
Total Cash Common Dividend
35.19%
27.47%
89.03%

Quarterly Revenue

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
586,417
717,535
709,174
774,786
2,787,913
2025
682,128
806,901
- -
872,309
3,205,512
2026
860,569
861,250
- -
- -
- -

Quarterly Earnings Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
169.06
189.68
150.3
472.74
1,114.27
2025
224.95
310.48
- -
173.85
917.74
2026
35.66
496.27
- -
- -
- -

Quarterly Dividends Per Share

VND

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
910.9
-820.39
451.15
2025
- -
- -
- -
-303.53
692.45
2026
- -
- -
- -
- -
- -
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Business
Vietnam Container Shipping Joint Stock Corporation (HOSE:VSC), commercially known as Viconship, is a Vietnam-based maritime logistics and seaport enterprise primarily engaged in container terminal operations, freight forwarding, warehousing, and integrated supply chain management services. Founded in 1985 and headquartered in Hai Phong, Vietnam, the company provides end-to-end maritime and inland logistics solutions structured across core business segments: Seaport and Terminal Operations, encompassing container stevedoring, berth allocation, vessel loading and discharge, cargo handling, and terminal management across major facilities including Green Port, VIP Green Port, and Nam Hai Dinh Vu Port; Container Yard and Depot Services, offering container freight station (CFS) cargo consolidation and deconsolidation, inland container depot (ICD) management, bonded warehousing, cold storage, and comprehensive container inspection, cleaning, maintenance, and repair; Multi-Modal Transportation and Logistics, providing containerized road haulage via a dedicated tractor-trailer fleet, coastal and river barge transportation, rail freight forwarding, domestic door-to-door distribution, and customs brokerage; and Shipping Agency and Maritime Services, comprising vessel husbandry, liner agency representation, ship brokerage, marine towing, and international supply chain coordination. The company primarily serves global container shipping lines, domestic and international cargo owners, manufacturing enterprises, and freight forwarders across Northern Vietnam and key domestic transport corridors. In recent corporate developments, Viconship completed the full acquisition of Nam Hai Dinh Vu Port in July 2024 by acquiring the remaining 65 percent equity interest following an initial 35 percent acquisition in 2023, creating a consolidated 1.6-kilometer continuous quay system and positioning the company as the largest port operator in the Hai Phong cluster with approximately 30 percent regional market share. To finance this strategic consolidation, the company executed an equity rights issuance to existing shareholders alongside structured bank credit facilities. Expanding its maritime freight capacity, the company acquired a 40.01 percent strategic equity stake in Vinaship Joint Stock Company in late 2024 and increased its investment holdings in Hai An Transport and Stevedoring Joint Stock Company in early 2025. Concurrently, Viconship executed strategic divestments from non-core assets, including the sale of its interest in the Hyatt Place hotel project in Hai Phong, to optimize capital allocation toward its core seaport infrastructure and logistics ecosystem.