Ho Chi Minh City Securities Corp
Ho Chi Minh City Securities Corporation, a securities brokerage firm, provides financial products and services to private, institutional, corporate clients in Vietnam. The company offers account management; consulting and order placing; brokerage; security custody; margin lending; OTC book management; bondholder agent and management; covered warrant; derivatives brokerage; active bonds; ETF funds… Read more
Ho Chi Minh City Securities Corp (HCM) - Net Assets
Latest net assets as of December 2025: ₫14.54 Trillion VND
Based on the latest financial reports, Ho Chi Minh City Securities Corp (HCM) has net assets worth ₫14.54 Trillion VND as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫46.50 Trillion) and total liabilities (₫31.96 Trillion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫14.54 Trillion |
| % of Total Assets | 31.28% |
| Annual Growth Rate | 22.49% |
| 5-Year Change | 98.53% |
| 10-Year Change | N/A |
| Growth Volatility | 22.21 |
Ho Chi Minh City Securities Corp - Net Assets Trend (2019–2025)
This chart illustrates how Ho Chi Minh City Securities Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Ho Chi Minh City Securities Corp (2019–2025)
The table below shows the annual net assets of Ho Chi Minh City Securities Corp from 2019 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫14.54 Trillion | +39.25% |
| 2024-12-31 | ₫10.44 Trillion | +25.65% |
| 2023-12-31 | ₫8.31 Trillion | +5.33% |
| 2022-12-31 | ₫7.89 Trillion | +7.73% |
| 2021-12-31 | ₫7.33 Trillion | +64.97% |
| 2020-12-31 | ₫4.44 Trillion | +3.16% |
| 2019-12-31 | ₫4.30 Trillion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Ho Chi Minh City Securities Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 181.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫2.50 Trillion | 17.21% |
| Other Components | ₫12.04 Trillion | 82.79% |
| Total Equity | ₫14.54 Trillion | 100.00% |
Ho Chi Minh City Securities Corp Competitors by Market Cap
The table below lists competitors of Ho Chi Minh City Securities Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Expressway Company Limited
PINK:SHZNF
|
$529.41 Million |
|
VBG Group AB (publ)
ST:VBG-B
|
$529.41 Million |
|
Hertz Global Holdings Inc
NASDAQ:HTZ
|
$529.58 Million |
|
Forum Energy Technologies Inc
NYSE:FET
|
$529.71 Million |
|
Shriram Pistons & Rings Limited
NSE:SHRIPISTON
|
$529.12 Million |
|
Shandong Shuangyi Technology Co Ltd
SHE:300690
|
$529.02 Million |
|
SMA Solar Technology AG
PINK:SMTGF
|
$528.72 Million |
|
BUNKA SHUTTER
F:7VK
|
$528.67 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ho Chi Minh City Securities Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 10,443,941,673,715 to 14,543,143,996,022, a change of 4,099,202,322,307 (39.2%).
- Net income of 1,178,617,386,238 contributed positively to equity growth.
- Dividend payments of 647,927,966,835 reduced retained earnings.
- New share issuances of 3,599,702,990,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫1.18 Trillion | +8.1% |
| Dividends Paid | ₫647.93 Billion | -4.46% |
| Share Issuances | ₫3.60 Trillion | +24.75% |
| Other Changes | ₫-31.19 Billion | -0.21% |
| Total Change | ₫- | 39.25% |
Book Value vs Market Value Analysis
This analysis compares Ho Chi Minh City Securities Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.62x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.04x to 1.62x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | ₫10733.79 | ₫21850.00 | x |
| 2020-12-31 | ₫11090.70 | ₫21850.00 | x |
| 2021-12-31 | ₫16021.57 | ₫21850.00 | x |
| 2022-12-31 | ₫17260.77 | ₫21850.00 | x |
| 2023-12-31 | ₫12079.90 | ₫21850.00 | x |
| 2024-12-31 | ₫11578.14 | ₫21850.00 | x |
| 2025-12-31 | ₫13466.41 | ₫21850.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ho Chi Minh City Securities Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.10%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 63.95%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 3.20x
- Recent ROE (8.10%) is below the historical average (10.66%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 10.05% | 56.88% | 0.10x | 1.74x | ₫2.15 Billion |
| 2020 | 11.95% | 33.24% | 0.13x | 2.81x | ₫86.42 Billion |
| 2021 | 15.66% | 54.61% | 0.09x | 3.33x | ₫414.54 Billion |
| 2022 | 10.80% | 51.53% | 0.11x | 1.96x | ₫63.30 Billion |
| 2023 | 8.11% | 92.23% | 0.04x | 2.15x | ₫-156.85 Billion |
| 2024 | 9.95% | 72.85% | 0.05x | 3.00x | ₫-4.74 Billion |
| 2025 | 8.10% | 63.95% | 0.04x | 3.20x | ₫-275.70 Billion |
Industry Comparison
This section compares Ho Chi Minh City Securities Corp's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $4,913,212,518,497
- Average return on equity (ROE) among peers: 10.61%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ho Chi Minh City Securities Corp (HCM) | ₫14.54 Trillion | 10.05% | 2.20x | $529.39 Million |
| AgriBank Securities JSC (AGR) | $2.10 Trillion | 4.62% | 0.09x | $5.26K |
| BIDV Securities JSC (BSI) | $4.68 Trillion | 8.72% | 0.78x | $44.56 Million |
| VietinBank Securities JSC (CTS) | $2.86 Trillion | 20.22% | 3.35x | $10.13K |
| FPT Securities JSC (FTS) | $3.64 Trillion | 12.21% | 1.26x | $260.46 Million |
| Tien Phong Securities Corp (ORS) | $2.17 Trillion | 9.70% | 1.19x | $167.38 Million |
| SSI Securities Corp (SSI) | $23.24 Trillion | 9.18% | 1.98x | $1.71 Billion |
| Thien Viet Securities JSC (TVS) | $2.94 Trillion | 9.74% | 1.60x | $59.79 Million |
| Viet Dragon Securities Corp (VDS) | $1.17 Trillion | 12.88% | 1.20x | $76.67 Million |
| VIX Securities JSC (VIX) | $1.42 Trillion | 8.19% | 0.24x | $988.83 Million |