MSH.VN Song Hong Garment JSC
- Market cap
- VND 3.99T
- P/E
- 5.9x
- P/B
- 2.00x
- ROE
- 28.2%
- Dividend yield
- 11.88%
- Fundamental score
- 3.9/5
Ratios use the latest price and the current fiscal year annualized from 2 quarters up to Jun 2026.
Is MSH.VN undervalued?
Graham numberMSH.VN trades 27.7% 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?
Song Hong Garment JSC fundamental analysis
18 of 22 checks passedROE 2/2
High return on equity (28.2%), above 20%.
ROA 1/1
Return on assets (11.3%) is above the industry median (3.6%).
Profit Consistency 2/2
Profitable for 6 consecutive years.
Earnings Growth 5Y 1/1
Earnings per share grew over the past 5 years.
Earnings Acceleration 1/1
Last year's EPS growth (48.8%) is above the 5-year average (12.0% a year).
Earnings Growth vs Industry 1/1
Last year's EPS growth (48.8%) is above the industry median (17.5%).
Revenue Growth 1/2
Revenue grew 0.1% 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 2/2
Low debt to equity (28.7%), 40% or less.
Debt Trend 0/1
Debt to equity has risen over the past 5 years.
Debt Coverage 0/1
Operating cash flow does not cover 20% of total debt.
Interest Coverage 1/1
EBIT is 10.2x against interest expense, well covered.
PE vs Market 1/1
PE (5.9x) is below the market median (11.2x).
PE vs Industry 1/1
PE (5.9x) is below the industry median (11.2x).
PBV 0/1
Price to book (2.0x) is above the industry median (1.2x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 11.8, limit 22.5).
PEG 1/1
PEG on 5-year earnings growth is 0.49, growth is cheap.
Dividend Yield 2/2
Dividend yield (11.9%) is in the top 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 77.3%, 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
Song Hong Garment JSC stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Song Hong Garment JSC
Song Hong Garment Joint Stock Company, together with its subsidiaries, manufactures, processes, and sells garment and bedding products in Vietnam. The company offers cotton, rugs, blankets, carpets, and knitted clothes. It also trades in industrial products; equipment, spare parts, and other materials for the garment-textile industry; and cigarettes, alcohol, and cosmetics. In addition, the company engages in sewing of clothes; wholesale of fabrics, clothes, and shoes; wareh…
Full company profileSong Hong Garment 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.
Song Hong Garment 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 | - | 3.81T | 4.75T | 5.52T | 4.54T | 5.28T | 5.54T | 5.40T |
| Gross Profit | - | 751B | 931B | 829B | 564B | 830B | 1.17T | 1.15T |
| Operating Income | - | 238B | 487B | 359B | 187B | 440B | 707B | 652B |
| EBITDA | - | - | - | 607B | 486B | 724B | 1.01T | 890B |
| Net Income | - | 232B | 442B | 375B | 245B | 413B | 614B | 570B |
| EPS | - | 3,090 | 5,897 | 4,998 | 2,173 | 3,666 | 5,456 | 5,067 |
| Balance Sheet | ||||||||
| Total Assets | - | 2.63T | 3.20T | 3.29T | 3.45T | 4.52T | 4.68T | 5.06T |
| Total Liabilities | - | 1.19T | 1.71T | 1.58T | 1.64T | 2.47T | 2.47T | 2.68T |
| Shareholders' Equity | - | 1.37T | 1.42T | 1.61T | 1.65T | 1.80T | 1.91T | 2.02T |
| Cash & Short-term Investments | - | 136B | 379B | 424B | 455B | 886B | 740B | 220B |
| Cash Flow | ||||||||
| Operating Cash Flow | 620B | 173B | 200B | 890B | -7.61B | 164B | 623B | -1.28T |
| Capital Expenditure | 75.3B | 102B | 259B | 260B | 187B | 539B | 215B | 207B |
| Free Cash Flow | - | 70.9B | -59.1B | 631B | -195B | -376B | 408B | -1.48T |
| Ratios | ||||||||
| ROE | - | 16.9% | 31.1% | 23.3% | 14.9% | 23.0% | 32.1% | 28.2% |
| ROA | - | 8.8% | 13.8% | 11.4% | 7.1% | 9.1% | 13.1% | 11.3% |
| Net Profit Margin | - | 6.1% | 9.3% | 6.8% | 5.4% | 7.8% | 11.1% | 10.6% |
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.
Song Hong Garment JSC dividends
- Dividend yield
- 11.88%
- Forward dividend
- 5,000.00 VND
- Payout ratio
- 77.3%
- Ex-dividend date
- May 18, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | VND 474B | 4,216 | 77.3% |
| 2024 | VND 263B | 2,333 | 63.6% |
| 2023 | VND 187B | 1,666 | 76.7% |
| 2022 | VND 187B | 2,499 | 50.0% |
| 2021 | VND 375B | 4,997 | 84.7% |
| 2020 | VND 9.06B | 121 | 3.9% |
| 2019 | VND 240B | - | - |
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: 3:2 on Jun 2, 2025.
Who owns Song Hong Garment JSC
- Insiders 45.43%
- Institutions 1.79%
- Public & others 52.77%
- Shares outstanding 113M
- Free float 36.5M
Song Hong Garment JSC company profile
- Company name
- Song Hong Garment JSC
- Ticker
- MSH.VN
- ISIN
- VN000000MSH6
- Exchange
- Vietnam Stocks
- Sector
- Consumer Cyclical
- Industry
- Apparel Manufacturing
- Employees
- 11,655
- Fiscal year end
- December
- Address
- No. 105, Nguyen Duc Thuan Street, Nam Dinh, Vietnam
- Phone
- 84 3 503 649365
- Website
- songhong.vn
About Song Hong Garment JSC
Song Hong Garment Joint Stock Company, together with its subsidiaries, manufactures, processes, and sells garment and bedding products in Vietnam. The company offers cotton, rugs, blankets, carpets, and knitted clothes. It also trades in industrial products; equipment, spare parts, and other materials for the garment-textile industry; and cigarettes, alcohol, and cosmetics. In addition, the company engages in sewing of clothes; wholesale of fabrics, clothes, and shoes; warehousing and storage services; renting of offices and factories; and provision of transportation services. Song Hong Garment Joint Stock Company was founded in 1988 and is headquartered in Nam Dinh, Vietnam.
Song Hong Garment JSC management
4- Mr. Quang Viet BuiVice Chairman, Member of the Management Board & Deputy General Director
- Mr. Franck LigniniGeneral Director & chairman of Management Board · born 1964
- Ms. Yen Hong Thi LeCFO & Director
- Ms. Mai Tuyet Thi VuChief Accountant