HDG.VN Ha Do Group JSC
- Market cap
- VND 6.19T
- P/E
- 9.1x
- P/B
- 0.89x
- ROE
- 2.9%
- Dividend yield
- 2.06%
- Fundamental score
- 2.1/5
Ratios use the latest price and the current fiscal year annualized from 2 quarters up to Jun 2026.
Is HDG.VN undervalued?
Graham numberHDG.VN trades 39.9% below its Graham number.
Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?
Ha Do Group JSC fundamental analysis
11 of 22 checks passedROE 0/2
Low return on equity (2.9%), below 10%.
ROA 0/1
Return on assets (1.4%) is below the industry median (1.4%).
Profit Consistency 2/2
Profitable for 7 consecutive years.
Earnings Growth 5Y 0/1
Earnings per share did not grow over the past 5 years.
Earnings Acceleration 1/1
Last year's EPS growth (101.1%) is above the 5-year average (-10.0% a year).
Earnings Growth vs Industry 1/1
Last year's EPS growth (101.1%) is above the industry median (66.4%).
Revenue Growth 0/2
Revenue shrank 10.2% a year over the past 3 years.
Short-term Liquidity 1/1
Current assets cover short-term liabilities.
Long-term Liabilities 0/1
Current assets do not cover long-term liabilities.
Debt to Equity 0/2
High debt to equity (112.5%), above 100%.
Debt Trend 1/1
Debt to equity has not risen over the past 5 years.
Debt Coverage 0/1
Operating cash flow does not cover 20% of total debt.
Interest Coverage 0/1
EBIT is 2.6x against interest expense, below 5x.
PE vs Market 1/1
PE (9.2x) is below the market median (11.2x).
PE vs Industry 1/1
PE (9.2x) is below the industry median (13.2x).
PBV 0/1
Price to book (0.9x) is above the industry median (0.9x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 8.3, limit 22.5).
PEG 0/1
PEG needs positive PE and positive 5-year earnings growth.
Dividend Yield 1/2
Dividend yield (2.1%) is above the bottom 25% of dividend payers in the market.
Dividend Stability 0/2
Dividends were not paid steadily for the past 5 years.
Dividend Growth 1/1
Dividends paid grew over the past 5 years.
Payout Ratio 1/1
Payout ratio is 16.5%, covered by earnings.
Each check is worth 1 or 2 points by how much it says about the quality of the company. The score is the share of points earned, out of 5. Ask AI to explain this score
Ha Do Group JSC stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Ha Do Group JSC
Ha Do Group Joint Stock Company, together with its subsidiaries, engages in the electricity generation, transmission, and distribution activities in Vietnam. It operates through Real Estate Activities; Sales of Electricity; and Leasing Services, Construction Services and Other Activities segments. The company is involved in investment, construction, and trading in real estate properties; hospitality services; and rents office, as well as engages in generation, transmission a…
Full company profileHa Do Group JSC financial statements
2026 annualized: Fiscal year 2026 is not finished. Income statement and cash flow are annualized from 2 quarters up to Jun 30, 2026, the balance sheet is the latest quarter. Figures change when the annual report is published.
Ha Do Group JSC annual financial statements (VND; K = thousand, M = million, B = billion, T = trillion)
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Anlz |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 4.34T | 5.00T | 3.78T | 3.85T | 2.89T | 2.72T | 2.79T | 2.34T |
| Gross Profit | 1.83T | 2.08T | 2.32T | 2.65T | 1.72T | 1.59T | 1.75T | 1.44T |
| Operating Income | 1.55T | 1.87T | 1.98T | 2.40T | 1.55T | 942B | 1.46T | 792B |
| EBITDA | 1.82T | 2.14T | 2.35T | 2.64T | 1.97T | 1.44T | 1.90T | 1.31T |
| Net Income | 932B | 979B | 1.10T | 1.40T | 665B | 348B | 770B | 200B |
| EPS | 3,356 | 3,526 | 4,738 | 4,577 | 2,175 | 1,036 | 2,082 | 492 |
| Balance Sheet | ||||||||
| Total Assets | 13.9T | 13.9T | 15.9T | 15.1T | 14.4T | 13.9T | 14.7T | 14.3T |
| Total Liabilities | 10.6T | 9.90T | 10.5T | 8.56T | 7.21T | 6.25T | 6.36T | 5.97T |
| Shareholders' Equity | 2.42T | 3.02T | 4.33T | 5.30T | 5.92T | 6.33T | 6.80T | 6.79T |
| Cash & Short-term Investments | 401B | 438B | 230B | 694B | 246B | 337B | 268B | 244B |
| Cash Flow | ||||||||
| Operating Cash Flow | 677B | 1.43T | 1.06T | 1.08T | 794B | 1.05T | 1.24T | 754B |
| Capital Expenditure | 2.10T | 1.83T | 1.99T | 95.8B | 148B | 17.5B | 317B | 170B |
| Free Cash Flow | -1.42T | -409B | -936B | -419B | 646B | 1.03T | 927B | 584B |
| Ratios | ||||||||
| ROE | 38.5% | 32.5% | 25.3% | 26.4% | 11.2% | 5.5% | 11.3% | 2.9% |
| ROA | 6.7% | 7.1% | 6.9% | 9.3% | 4.6% | 2.5% | 5.2% | 1.4% |
| Net Profit Margin | 21.5% | 19.6% | 29.0% | 36.3% | 23.0% | 12.8% | 27.6% | 8.6% |
What these items mean
- Revenue
- Total sales of goods and services in the period.
- Gross Profit
- Revenue minus the direct cost of producing what was sold.
- Operating Income
- Profit from the core business after operating expenses.
- EBITDA
- Earnings before interest, taxes, depreciation and amortization.
- Net Income
- Profit left for shareholders after all expenses, interest and taxes.
- EPS
- Net income divided by shares outstanding.
- Total Assets
- Everything the company owns.
- Total Liabilities
- Everything the company owes.
- Shareholders' Equity
- Assets minus liabilities: the book value that belongs to shareholders.
- Cash & Short-term Investments
- Cash and investments that can be turned into cash quickly.
- Operating Cash Flow
- Cash generated by the core business.
- Capital Expenditure
- Cash spent on property, plant and equipment.
- Free Cash Flow
- Operating cash flow minus capital expenditure: cash left for dividends, buybacks or debt repayment.
- ROE
- Return on equity: net income divided by shareholders' equity.
- ROA
- Return on assets: net income divided by total assets.
- Net Profit Margin
- Net income as a share of revenue.
Ha Do Group JSC dividends
- Dividend yield
- 2.06%
- Forward dividend
- 454.55 VND
- Payout ratio
- 16.5%
- Ex-dividend date
- Mar 12, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | VND 127B | 344 | 16.5% |
| 2024 | VND 286B | 851 | 82.1% |
| 2023 | VND 134B | 437 | 20.1% |
| 2022 | VND 408B | 1,333 | 29.1% |
| 2021 | VND 304B | 1,312 | 27.7% |
| 2020 | VND 122B | 441 | 12.5% |
| 2019 | VND 207B | 745 | 22.2% |
From the cash flow statement: dividends paid in the fiscal year, divided by that year's shares outstanding. Payout ratio = dividends paid / net income.
Last stock split: 11:10 on Jun 8, 2026.
Who owns Ha Do Group JSC
- Insiders 44.26%
- Institutions 12.43%
- Public & others 43.32%
- Shares outstanding 407M
- Free float 239M
Ha Do Group JSC company profile
- Company name
- Ha Do Group JSC
- Ticker
- HDG.VN
- ISIN
- VN000000HDG0
- Exchange
- Vietnam Stocks
- Sector
- Real Estate
- Industry
- Real Estate - Development
- Employees
- 700
- Fiscal year end
- December
- Address
- No. 8 Lang Ha, Hanoi, Vietnam
- Phone
- 84 24 3831 0347
- Website
- hado.com.vn
About Ha Do Group JSC
Ha Do Group Joint Stock Company, together with its subsidiaries, engages in the electricity generation, transmission, and distribution activities in Vietnam. It operates through Real Estate Activities; Sales of Electricity; and Leasing Services, Construction Services and Other Activities segments. The company is involved in investment, construction, and trading in real estate properties; hospitality services; and rents office, as well as engages in generation, transmission and distribution of electricity; and rendering hotel services, leasing services for office buildings, commercial areas, construction, and other related services. It also engages in design and construction investment consultancy; and real estate auction services. The company was founded in 1990 and is headquartered in Hanoi, Vietnam.
Ha Do Group JSC management
8- Mr. Minh Trong NguyenCEO, General Director & Deputy Chairman of the Board · born 1987
- Mr. Tuan Xuan LeDeputy General Director
- Mr. Dung Tien TranDeputy General Director
- Ms. Tam Thi CaoHead of Internal Audit Board & Director · born 1978
- Mr. Anh Tuan ChuCFO & Chief Account of The Southern Branch
- Tung Huu DaoChief Accountant
- Mr. Vinh Huu NguyenHead of Energy Management Department
- Ms. Thuong Thi TranCorporate Governance cum Secretary