VHM.VN Vinhomes JSC
- Market cap
- VND 496T
- P/E
- 6.4x
- P/B
- 2.01x
- ROE
- 37.1%
- Dividend yield
- 0.23%
- Fundamental score
- 3.6/5
Ratios use the latest price and the current fiscal year annualized from 2 quarters up to Jun 2026.
Is VHM.VN undervalued?
Graham numberVHM.VN trades 24.3% 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?
Vinhomes JSC fundamental analysis
17 of 22 checks passedROE 2/2
High return on equity (37.1%), above 20%.
ROA 1/1
Return on assets (8.7%) is above the industry median (1.4%).
Profit Consistency 2/2
Profitable for 7 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 (31.7%) is above the 5-year average (9.8% a year).
Earnings Growth vs Industry 0/1
Last year's EPS growth (31.7%) is below the industry median (66.4%).
Revenue Growth 2/2
Revenue grew 34.9% 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 1/2
Moderate debt to equity (58.6%), up to 100%.
Debt Trend 0/1
Debt to equity has risen over the past 5 years.
Debt Coverage 1/1
Operating cash flow covers 20% of total debt.
Interest Coverage 1/1
EBIT is 10.7x against interest expense, well covered.
PE vs Market 1/1
PE (6.4x) is below the market median (11.2x).
PE vs Industry 1/1
PE (6.4x) is below the industry median (13.2x).
PBV 0/1
Price to book (2.0x) is above the industry median (0.9x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 12.9, limit 22.5).
PEG 1/1
PEG on 5-year earnings growth is 0.66, growth is cheap.
Dividend Yield 0/2
Dividend yield (0.2%) is in 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 2.7%, 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
Vinhomes JSC stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Vinhomes JSC
Vinhomes Joint Stock Company develops and sells real estate properties in Vietnam. The company also leases office properties. In addition, it provides real estate management and related services; general contractor; consulting and designing construction; and supervision and construction management services. The company was formerly known as Hanoi Southern City Development Joint Stock Company and changed its name to Vinhomes Joint Stock Company in February 2018. The company w…
Full company profileVinhomes 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.
Vinhomes 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 | 51.6T | 71.5T | 85.0T | 62.4T | 104T | 102T | 153T | 236T |
| Gross Profit | 27.5T | 25.9T | 48.5T | 30.7T | 35.7T | 33.0T | 46.3T | 132T |
| Operating Income | 23.8T | 22.0T | 44.5T | 26.6T | 28.0T | 24.9T | 39.0T | 127T |
| EBITDA | 32.5T | 40.1T | 51.6T | 41.9T | 49.1T | 51.4T | 67.2T | 144T |
| Net Income | 21.7T | 27.4T | 38.8T | 28.8T | 33.4T | 31.8T | 41.9T | 96.3T |
| EPS | 5,085 | 6,396 | 8,916 | 6,621 | 7,664 | 7,742 | 10,200 | 11,719 |
| Balance Sheet | ||||||||
| Total Assets | 197T | 215T | 231T | 362T | 445T | 561T | 786T | 1,111T |
| Total Liabilities | 133T | 126T | 99.1T | 213T | 262T | 340T | 538T | 837T |
| Shareholders' Equity | 56.1T | 85.7T | 125T | 145T | 179T | 202T | 236T | 260T |
| Cash & Short-term Investments | 13.3T | 13.7T | 4.63T | 10.8T | 14.1T | 29.0T | 49.9T | 53.2T |
| Cash Flow | ||||||||
| Operating Cash Flow | 51.9T | 24.9T | 17.1T | 31.0T | 17.3T | -22.4T | 41.2T | 179T |
| Capital Expenditure | 3.85T | 3.50T | 17.9T | 18.3T | 15.2T | 10.6T | 15.4T | 23.8T |
| Free Cash Flow | 48.1T | 21.4T | -824B | 12.7T | 2.08T | -33.0T | 25.8T | 155T |
| Ratios | ||||||||
| ROE | 38.8% | 31.9% | 31.1% | 19.9% | 18.6% | 15.7% | 17.7% | 37.1% |
| ROA | 11.0% | 12.7% | 16.8% | 8.0% | 7.5% | 5.7% | 5.3% | 8.7% |
| Net Profit Margin | 42.1% | 38.2% | 45.7% | 46.2% | 32.2% | 31.1% | 27.3% | 40.8% |
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.
Vinhomes JSC dividends
- Dividend yield
- 0.23%
- Forward dividend
- 3,000.00 VND
- Payout ratio
- 2.7%
- Ex-dividend date
- Jun 29, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | VND 1.13T | 275 | 2.7% |
| 2024 | VND 605B | 147 | 1.9% |
| 2023 | - | - | - |
| 2022 | VND 9.38T | 2,155 | 32.5% |
| 2021 | VND 5.20T | 1,194 | 13.4% |
| 2020 | VND 218B | 51 | 0.8% |
| 2019 | VND 3.69T | 862 | 17.0% |
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: 2:1 on Aug 6, 2026.
Who owns Vinhomes JSC
- Insiders 71.58%
- Institutions 3.67%
- Public & others 24.75%
- Shares outstanding 8.21B
- Free float 2.33B
Vinhomes JSC company profile
- Company name
- Vinhomes JSC
- Ticker
- VHM.VN
- ISIN
- VN000000VHM0
- Exchange
- Vietnam Stocks
- Sector
- Real Estate
- Industry
- Real Estate - Development
- Employees
- 14,296
- Fiscal year end
- December
- Address
- Symphony Office Tower, Hanoi, Vietnam
- Phone
- 84 24 3974 9350
- Website
- vinhomes.vn
About Vinhomes JSC
Vinhomes Joint Stock Company develops and sells real estate properties in Vietnam. The company also leases office properties. In addition, it provides real estate management and related services; general contractor; consulting and designing construction; and supervision and construction management services. The company was formerly known as Hanoi Southern City Development Joint Stock Company and changed its name to Vinhomes Joint Stock Company in February 2018. The company was incorporated in 2008 and is headquartered in Hanoi, Vietnam. Vinhomes Joint Stock Company operates as a subsidiary of Vingroup Joint Stock Company.
Vinhomes JSC management
5- Ms. Hang Thu NguyenCEO & Member of Board of Directors
- Mr. Cong Tien LeChief Financial Officer
- Hieu Duc DoChief Accountant
- Ms. Thuy Thu MaiDeputy Chief Executive Officer of Administrative & Support
- Mr. Hai Minh DangDeputy Chief Executive Officer of Safety, Security & Fire Prevention