VSH.VN Vinh Son Song Hinh Hydropower JSC
- Market cap
- VND 9.76T
- P/E
- 10.5x
- P/B
- 1.92x
- ROE
- 19.9%
- Dividend yield
- 7.26%
- Fundamental score
- 3.4/5
Ratios use the latest price and the current fiscal year annualized from 2 quarters up to Jun 2026.
Is VSH.VN undervalued?
Graham numberVSH.VN trades 5.1% 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?
Vinh Son Song Hinh Hydropower JSC fundamental analysis
17 of 22 checks passedROE 1/2
Moderate return on equity (19.9%), between 10% and 20%.
ROA 1/1
Return on assets (12.6%) is above the industry median (10.9%).
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 (92.4%) is above the 5-year average (33.6% a year).
Earnings Growth vs Industry 1/1
Last year's EPS growth (92.4%) is above the industry median (46.1%).
Revenue Growth 0/2
Revenue shrank 9.3% 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 1/2
Moderate debt to equity (43.4%), up to 100%.
Debt Trend 1/1
Debt to equity has not risen over the past 5 years.
Debt Coverage 1/1
Operating cash flow covers 20% of total debt.
Interest Coverage 1/1
EBIT is 6.9x against interest expense, well covered.
PE vs Market 1/1
PE (10.5x) is below the market median (11.2x).
PE vs Industry 0/1
PE (10.5x) is above the industry median (9.2x).
PBV 0/1
Price to book (1.9x) is above the industry median (1.4x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 20.1, limit 22.5).
PEG 1/1
PEG on 5-year earnings growth is 0.31, growth is cheap.
Dividend Yield 2/2
Dividend yield (7.3%) 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 82.2%, 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
Vinh Son Song Hinh Hydropower JSC stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Vinh Son Song Hinh Hydropower JSC
Vinh Son - Song Hinh Hydropower Joint Stock Company provides electricity services in Vietnam. It also involved in the project management consultancy and construction supervision of energy projects; and provides consulting, design, and construction of monitoring systems for energy, construction, traffic, irrigation and environmental works; testing, calibrating, and inspecting the technical safety of electrical equipment and tools; trades materials and equipment in the field o…
Full company profileVinh Son Song Hinh Hydropower 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.
Vinh Son Song Hinh Hydropower 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 | 400B | 341B | 1.61T | 3.08T | 2.57T | 1.83T | 2.30T | 2.39T |
| Gross Profit | 197B | 137B | 815B | 2.02T | 1.56T | 873B | 1.23T | 1.35T |
| Operating Income | 174B | 114B | 770B | 1.94T | 1.50T | 826B | 1.16T | 1.30T |
| EBITDA | 262B | 320B | 1.24T | 2.38T | 2.07T | 1.39T | 1.75T | 1.92T |
| Net Income | 159B | 188B | 387B | 1.26T | 994B | 448B | 863B | 1.01T |
| EPS | 725 | 859 | 1,639 | 5,354 | 4,208 | 1,898 | 3,651 | 4,296 |
| Balance Sheet | ||||||||
| Total Assets | 9.00T | 9.68T | 10.0T | 9.71T | 9.53T | 8.61T | 8.17T | 8.05T |
| Total Liabilities | 5.86T | 6.35T | 6.01T | 4.68T | 4.94T | 3.92T | 3.22T | 2.96T |
| Shareholders' Equity | 3.14T | 3.33T | 4.01T | 5.03T | 4.59T | 4.68T | 4.95T | 5.10T |
| Cash & Short-term Investments | 71.1B | 15.1B | 52.4B | 131B | 133B | 368B | 68.2B | 305B |
| Cash Flow | ||||||||
| Operating Cash Flow | 189B | 235B | 754B | 1.51T | 1.08T | 1.58T | 1.41T | 2.01T |
| Capital Expenditure | 1.04T | 822B | 328B | 159B | 46.8B | 18.4B | 8.61B | 0.00 |
| Free Cash Flow | -854B | -587B | 426B | 1.35T | 1.03T | 1.56T | 1.40T | 1.95T |
| Ratios | ||||||||
| ROE | 5.1% | 5.7% | 9.7% | 25.2% | 21.6% | 9.6% | 17.4% | 19.9% |
| ROA | 1.8% | 1.9% | 3.9% | 13.0% | 10.4% | 5.2% | 10.6% | 12.6% |
| Net Profit Margin | 39.7% | 55.3% | 24.0% | 41.0% | 38.6% | 24.6% | 37.4% | 42.5% |
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.
Vinh Son Song Hinh Hydropower JSC dividends
- Dividend yield
- 7.26%
- Forward dividend
- 4,000.00 VND
- Payout ratio
- 82.2%
- Ex-dividend date
- Aug 14, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | VND 709B | 3,000 | 82.2% |
| 2024 | VND 945B | 4,000 | 210.8% |
| 2023 | VND 709B | 3,000 | 71.3% |
| 2022 | VND 236B | 1,000 | 18.7% |
| 2021 | VND 236B | 1,000 | 61.0% |
| 2020 | VND 236B | 1,077 | 125.5% |
| 2019 | VND 236B | 1,077 | 148.6% |
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: 2103:1978 on Jan 7, 2021.
Who owns Vinh Son Song Hinh Hydropower JSC
- Insiders 83.28%
- Institutions 1.13%
- Public & others 15.59%
- Shares outstanding 236M
- Free float 26.9M
Vinh Son Song Hinh Hydropower JSC company profile
- Company name
- Vinh Son Song Hinh Hydropower JSC
- Ticker
- VSH.VN
- ISIN
- VN000000VSH7
- Exchange
- Vietnam Stocks
- Sector
- Utilities
- Industry
- Utilities - Regulated Electric
- Employees
- 218
- Fiscal year end
- December
- Address
- No. 21, Nguyen Hue, Qui Nhon, Vietnam
- Phone
- 84 256 389 2792
- Website
- vshpc.evn.com.vn
About Vinh Son Song Hinh Hydropower JSC
Vinh Son - Song Hinh Hydropower Joint Stock Company provides electricity services in Vietnam. It also involved in the project management consultancy and construction supervision of energy projects; and provides consulting, design, and construction of monitoring systems for energy, construction, traffic, irrigation and environmental works; testing, calibrating, and inspecting the technical safety of electrical equipment and tools; trades materials and equipment in the field of hydropower; real estate business; electricity business; manages, operates, and maintains services for power plants; installs electrical systems for energy, industrial, and civil engineering projects; installs water supply, drainage, heating and air conditioning systems; installs, maintains, and repairs non-electrical equipment in energy projects, buildings, and other construction works; road construction; and vocational training, fostering, training knowledge, specialized skills in electricity and labor safety. The company was founded in 1994 and is headquartered in Qui Nhon, Vietnam. Vinh Son - Song Hinh Hydropower Joint Stock Company operates as a subsidiary of R.E.E Energy Company Limited.
Vinh Son Song Hinh Hydropower JSC management
4- Mr. Thanh Van NguyenChairman of Board of Management, CEO & Director
- Mr. Hoang Anh TuanDeputy General Director & Member of Management Board
- Mr. Duong Tan TuongDeputy General Director & Member of Management Board
- Ms. Thuy Thanh Thi PhanChief Accountant