Song Hong Garment JSC (MSH) - Net Assets

Latest as of December 2025: ₫2.21 Trillion VND ≈ $84.09 Million USD

Based on the latest financial reports, Song Hong Garment JSC (MSH) has net assets worth ₫2.21 Trillion VND (≈ $84.09 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫4.68 Trillion ≈ $177.73 Million USD) and total liabilities (₫2.46 Trillion ≈ $93.64 Million USD). 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. Check tangible equity quality of Song Hong Garment JSC to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	₫2.21 Trillion
% of Total Assets	47.31%
Annual Growth Rate	8.9%
5-Year Change	47.67%
10-Year Change	N/A
Growth Volatility	4.49

Song Hong Garment JSC - Net Assets Trend (2020–2025)

This chart illustrates how Song Hong Garment JSC's net assets have evolved over time, based on quarterly financial data. See Song Hong Garment JSC defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Song Hong Garment JSC (2020–2025)

The table below shows the annual net assets of Song Hong Garment JSC from 2020 to 2025. For live valuation and market cap data, see Song Hong Garment JSC market cap and net worth.

Year	Net Assets	Change
2025-12-31	₫2.21 Trillion ≈ $83.90 Million	+7.43%
2024-12-31	₫2.06 Trillion ≈ $78.10 Million	+13.58%
2023-12-31	₫1.81 Trillion ≈ $68.76 Million	+5.28%
2022-12-31	₫1.72 Trillion ≈ $65.31 Million	+14.96%
2021-12-31	₫1.50 Trillion ≈ $56.82 Million	+3.69%
2020-12-31	₫1.44 Trillion ≈ $54.79 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Song Hong Garment 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 decreased by 31.3% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	₫595.46 Billion	31.11%
Other Components	₫1.32 Trillion	68.89%
Total Equity	₫1.91 Trillion	100.00%

Song Hong Garment JSC Competitors by Market Cap

The table below lists competitors of Song Hong Garment JSC ranked by their market capitalization.

Company	Market Cap
S-Oil Corp Pref KO:010955	$146.69 Million
Viet Dragon Securities Corp VN:VDS	$146.75 Million
Kimia Farma Persero Tbk JK:KAEF	$146.78 Million
Amulaire Thermal Technology TW:2241	$146.82 Million
Powercell Sweden ST:PCELL	$146.53 Million
Austral Resources Australia Ltd AU:AR1	$146.53 Million
First Guaranty Bancshares, Inc. NASDAQ:FGBI	$146.50 Million
BCB Bancorp Inc NASDAQ:BCBP	$146.48 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Song Hong Garment JSC's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 1,796,053,912,325 to 1,914,153,115,844, a change of 118,099,203,519 (6.6%).
Net income of 613,919,710,840 contributed positively to equity growth.
Dividend payments of 474,382,727,500 reduced retained earnings.
Other factors decreased equity by 21,437,779,821.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	₫613.92 Billion	+32.07%
Dividends Paid	₫474.38 Billion	-24.78%
Other Changes	₫-21.44 Billion	-1.12%
Total Change	₫-	6.58%

Book Value vs Market Value Analysis

This analysis compares Song Hong Garment 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: 2.02x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has increased from 1.88x to 2.02x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2020-12-31	₫18246.35	₫34300.00	x
2021-12-31	₫18955.77	₫34300.00	x
2022-12-31	₫21453.36	₫34300.00	x
2023-12-31	₫14631.85	₫34300.00	x
2024-12-31	₫15961.92	₫34300.00	x
2025-12-31	₫17011.52	₫34300.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Song Hong Garment 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): 32.07%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 11.09%
• Asset Turnover: 1.18x
• Equity Multiplier: 2.45x
Recent ROE (32.07%) is above the historical average (23.54%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2020	16.94%	6.08%	1.45x	1.92x	₫94.93 Billion
2021	31.11%	9.32%	1.48x	2.25x	₫300.19 Billion
2022	23.30%	6.79%	1.68x	2.05x	₫213.96 Billion
2023	14.85%	5.38%	1.32x	2.10x	₫79.91 Billion
2024	22.97%	7.81%	1.17x	2.52x	₫232.92 Billion
2025	32.07%	11.09%	1.18x	2.45x	₫422.50 Billion

Industry Comparison

This section compares Song Hong Garment JSC's net assets metrics with peer companies in the Apparel Manufacturing industry.

No peer company data available for comparison.

About Song Hong Garment JSC

VN:MSH Vietnam Apparel Manufacturing

Market Cap

$146.64 Million

₫3.86 Trillion VND

Market Cap Rank

#17833 Global

#112 in Vietnam

Share Price

₫34300.00

Change (1 day)

+1.78%

52-Week Range

₫31950.00 - ₫40500.00

All Time High

₫61700.00