Hoa Phat Group JSC
Hoa Phat Group Joint Stock Company produces and sells steel products in Vietnam. It engages in refining steel; casting steel and iron; trading, import, and export of steel, and steel-producing machinery and equipment; production and trade of industrial steel, including steel sheets, hot rolled steel, cold rolled steel, steel pipes, and steel scrap; and production of steel string machinery. It als… Read more
Hoa Phat Group JSC (HPG) - Net Assets
Latest net assets as of December 2025: ₫131.22 Trillion VND
Based on the latest financial reports, Hoa Phat Group JSC (HPG) has net assets worth ₫131.22 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 (₫257.92 Trillion) and total liabilities (₫126.70 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 | ₫131.22 Trillion |
| % of Total Assets | 50.88% |
| Annual Growth Rate | 18.33% |
| 5-Year Change | 44.55% |
| 10-Year Change | N/A |
| Growth Volatility | 16.3 |
Hoa Phat Group JSC - Net Assets Trend (2019–2025)
This chart illustrates how Hoa Phat Group JSC's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Hoa Phat Group JSC (2019–2025)
The table below shows the annual net assets of Hoa Phat Group JSC from 2019 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫131.22 Trillion | +14.46% |
| 2024-12-31 | ₫114.65 Trillion | +11.49% |
| 2023-12-31 | ₫102.84 Trillion | +7.00% |
| 2022-12-31 | ₫96.11 Trillion | +5.87% |
| 2021-12-31 | ₫90.78 Trillion | +53.29% |
| 2020-12-31 | ₫59.22 Trillion | +23.93% |
| 2019-12-31 | ₫47.79 Trillion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hoa Phat Group JSC'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 203.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫51.03 Trillion | 39.51% |
| Other Components | ₫78.14 Trillion | 60.49% |
| Total Equity | ₫129.18 Trillion | 100.00% |
Hoa Phat Group JSC Competitors by Market Cap
The table below lists competitors of Hoa Phat Group JSC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Paylocity Holdng
NASDAQ:PCTY
|
$4.79 Billion |
|
China Natl Chem Engineering Co
SHG:601117
|
$4.80 Billion |
|
Marico Limited
NSE:MARICO
|
$4.80 Billion |
|
One 97 Communications Limited
NSE:PAYTM
|
$4.80 Billion |
|
Crispr Therapeutics AG
NASDAQ:CRSP
|
$4.79 Billion |
|
Atour Lifestyle Holdings Limited American Depositary Shares
NASDAQ:ATAT
|
$4.79 Billion |
|
Telefônica Brasil S.A.
SA:VIVT3
|
$4.78 Billion |
|
Primo Brands Corporation
NYSE:PRMB
|
$4.77 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hoa Phat Group JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 114,354,622,519,040 to 129,177,908,921,296, a change of 14,823,286,402,256 (13.0%).
- Net income of 15,450,084,827,347 contributed positively to equity growth.
- Dividend payments of 26,990,069,737 reduced retained earnings.
- Share repurchases of 158,330,020,000 reduced equity.
- New share issuances of 1,865,202,500,000 increased equity.
- Other factors decreased equity by 2,306,680,835,354.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫15.45 Trillion | +11.96% |
| Dividends Paid | ₫26.99 Billion | -0.02% |
| Share Repurchases | ₫158.33 Billion | -0.12% |
| Share Issuances | ₫1.87 Trillion | +1.44% |
| Other Changes | ₫-2.31 Trillion | -1.79% |
| Total Change | ₫- | 12.96% |
Book Value vs Market Value Analysis
This analysis compares Hoa Phat Group JSC'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: 1.60x
- 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 3.28x to 1.60x 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 | ₫8190.01 | ₫26900.00 | x |
| 2020-12-31 | ₫10158.72 | ₫26900.00 | x |
| 2021-12-31 | ₫15585.38 | ₫26900.00 | x |
| 2022-12-31 | ₫16510.91 | ₫26900.00 | x |
| 2023-12-31 | ₫17674.02 | ₫26900.00 | x |
| 2024-12-31 | ₫17878.35 | ₫26900.00 | x |
| 2025-12-31 | ₫16829.98 | ₫26900.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hoa Phat Group JSC 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): 11.96%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.90%
- • Asset Turnover: 0.61x
- • Equity Multiplier: 2.00x
- Recent ROE (11.96%) is below the historical average (16.37%), 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 | 15.81% | 11.82% | 0.63x | 2.14x | ₫2.77 Trillion |
| 2020 | 22.77% | 14.93% | 0.69x | 2.23x | ₫7.54 Trillion |
| 2021 | 38.04% | 23.03% | 0.84x | 1.97x | ₫25.42 Trillion |
| 2022 | 8.84% | 6.00% | 0.83x | 1.77x | ₫-1.12 Trillion |
| 2023 | 6.65% | 5.75% | 0.63x | 1.83x | ₫-3.44 Trillion |
| 2024 | 10.51% | 8.66% | 0.62x | 1.96x | ₫585.98 Billion |
| 2025 | 11.96% | 9.90% | 0.61x | 2.00x | ₫2.53 Trillion |
Industry Comparison
This section compares Hoa Phat Group JSC's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $5,669,843,880,062
- Average return on equity (ROE) among peers: 7.16%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hoa Phat Group JSC (HPG) | ₫131.22 Trillion | 15.81% | 0.97x | $4.79 Billion |
| Hoasen Group (HSG) | $5.47 Trillion | 6.61% | 2.15x | $293.90 Million |
| Nam Kim Steel JSC (NKG) | $5.87 Trillion | 7.72% | 1.30x | $199.30 Million |