HSG.VN Hoasen Group
- Market cap
- VND 8.80T
- P/E
- 13.4x
- P/B
- 0.76x
- ROE
- 6.3%
- Dividend yield
- 3.52%
- Fundamental score
- 1.8/5
Ratios use the latest price and the current fiscal year annualized from 3 quarters up to Jun 2026.
Is HSG.VN undervalued?
Graham numberHSG.VN trades 32.8% 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?
Hoasen Group fundamental analysis
9 of 22 checks passedROE 0/2
Low return on equity (6.3%), below 10%.
ROA 0/1
Return on assets (3.4%) is below the industry median (3.6%).
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 (9.0%) is above the 5-year average (-13.8% a year).
Earnings Growth vs Industry 0/1
Last year's EPS growth (9.0%) is below the industry median (17.5%).
Revenue Growth 0/2
Revenue shrank 9.8% a year over the past 3 years.
Short-term Liquidity 1/1
Current assets cover short-term liabilities.
Long-term Liabilities 1/1
Current assets cover long-term liabilities.
Debt to Equity 0/2
Debt to equity cannot be calculated: debt is not reported or equity is negative.
Debt Trend 0/1
Debt to equity has risen over the past 5 years.
Debt Coverage 0/1
Debt is not reported.
Interest Coverage 0/1
EBIT is 3.5x against interest expense, below 5x.
PE vs Market 0/1
PE (13.4x) is above the market median (11.2x).
PE vs Industry 0/1
PE (13.4x) is above the industry median (11.2x).
PBV 1/1
Price to book (0.8x) is below the industry median (1.2x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 10.2, limit 22.5).
PEG 0/1
PEG needs positive PE and positive 5-year earnings growth.
Dividend Yield 1/2
Dividend yield (3.5%) 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 42.2%, 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
Hoasen Group stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Hoasen Group
Hoa Sen Group, together with its subsidiaries, engages in the manufacturing and trading steel sheet in Vietnam and internationally. The company is involved in the production of galvanized, pre-painted galvanized, aluminum-zinc alloy coated, and other alloy coated steel sheets, as well as steel and galvanized purlins; black, galvanized, and other alloy coated steel pipes; and galvanized meshes, wires, and other wires. It engages in the production and trading of plastic buildi…
Full company profileHoasen Group financial statements
2026 annualized: Fiscal year 2026 is not finished. Income statement and cash flow are annualized from 3 quarters up to Jun 30, 2026, the balance sheet is the latest quarter. Figures change when the annual report is published.
Hoasen Group 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 | 28.0T | 27.5T | 48.7T | 49.7T | 31.7T | 39.3T | 36.5T | 36.5T |
| Gross Profit | 3.20T | 4.63T | 8.87T | 4.94T | 3.06T | 4.26T | 4.52T | 4.69T |
| Operating Income | 979B | 1.95T | 5.10T | 584B | 177B | 423B | 745B | 1.19T |
| EBITDA | 2.40T | 3.17T | 6.46T | 1.80T | 1.47T | 1.67T | 1.91T | 2.23T |
| Net Income | 361B | 1.15T | 4.31T | 251B | 30.0B | 515B | 735B | 751B |
| EPS | 598 | 1,909 | 7,072 | 408 | 37 | 835 | 910 | 930 |
| Balance Sheet | ||||||||
| Total Assets | 17.2T | 17.8T | 26.6T | 17.0T | 17.4T | 19.6T | 19.0T | 22.2T |
| Total Liabilities | 11.8T | 11.2T | 15.8T | 6.14T | 6.59T | 8.65T | 7.61T | 10.3T |
| Shareholders' Equity | 5.46T | 6.58T | 10.8T | 10.9T | 10.8T | 10.9T | 11.3T | 11.8T |
| Cash & Short-term Investments | 289B | 575B | 493B | 330B | 597B | 602B | 428B | 558B |
| Cash Flow | ||||||||
| Operating Cash Flow | 5.18T | 2.11T | 1.50T | 2.84T | 1.87T | -1.41T | 3.69T | -675B |
| Capital Expenditure | 1.06T | 398B | 477B | 463B | 374B | 771B | 2.62T | 3.02T |
| Free Cash Flow | 4.12T | 1.71T | 1.02T | 2.38T | 1.49T | -2.19T | 1.06T | -3.69T |
| Ratios | ||||||||
| ROE | 6.6% | 17.5% | 39.9% | 2.3% | 0.3% | 4.7% | 6.5% | 6.3% |
| ROA | 2.1% | 6.5% | 16.2% | 1.5% | 0.2% | 2.6% | 3.9% | 3.4% |
| Net Profit Margin | 1.3% | 4.2% | 8.9% | 0.5% | 0.1% | 1.3% | 2.0% | 2.1% |
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.
Hoasen Group dividends
- Dividend yield
- 3.52%
- Forward dividend
- -
- Payout ratio
- 42.2%
- Ex-dividend date
- Apr 2, 2025
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | VND 310B | 384 | 42.2% |
| 2024 | VND 308B | 499 | 59.8% |
| 2023 | VND 5.53M | 0.01 | 0.0% |
| 2022 | VND 394M | 0.64 | 0.2% |
| 2021 | VND 307M | 0.50 | 0.0% |
| 2020 | VND 22.3M | 0.04 | 0.0% |
| 2019 | VND 225M | 0.37 | 0.1% |
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: 130:100 on May 4, 2026.
Who owns Hoasen Group
- Insiders 18.08%
- Institutions 1.25%
- Public & others 80.67%
- Shares outstanding 807M
- Free float 807M
Hoasen Group company profile
- Company name
- Hoasen Group
- Ticker
- HSG.VN
- ISIN
- VN000000HSG8
- Exchange
- Vietnam Stocks
- Sector
- Basic Materials
- Industry
- Steel
- Employees
- 7,999
- Fiscal year end
- September
- Address
- No. 9, Thong Nhat Boulevard, Di An, Vietnam
- Phone
- 84 28 3999 0111
- Website
- hoasengroup.vn
About Hoasen Group
Hoa Sen Group, together with its subsidiaries, engages in the manufacturing and trading steel sheet in Vietnam and internationally. The company is involved in the production of galvanized, pre-painted galvanized, aluminum-zinc alloy coated, and other alloy coated steel sheets, as well as steel and galvanized purlins; black, galvanized, and other alloy coated steel pipes; and galvanized meshes, wires, and other wires. It engages in the production and trading of plastic building materials; trading of building materials, production materials, and consumer goods; leasing warehouses, and freight transport; construction of industrial and civil facilities; production of cold rolled coil; and leasing of machinery, equipment, and other tangible goods. The company was incorporated in 2001 is headquartered in Di An, Vietnam.
Hoasen Group management
10- Mr. Thanh Van VuCEO, Deputy CFO & Member of Management Board
- Mr. Chu Ngoc TranExecutive Vice Chairman
- Mr. Huy Duc HoangDeputy CEO & Member of Management Board
- Mr. Dai Tran NguyenDeputy General Director & Member of Management Board
- Mr. Pham Quoc TranDeputy CEO & Member of Management Board
- Mr. Huy Ngoc NguyenDeputy CEO & Member of Management Board
- Mr. Nam Thanh TranDeputy CEO & Member of Management Board
- Mr. Hoa Tan NguyenDeputy CEO & Member of the Management Board
- Mr. Phuc Minh NguyenDeputy CEO & Member of Management Board
- Mr. Tai Dinh TranDeputy General Director & Member of Management Board