Vinh Son Song Hinh Hydropower JSC Net Assets
Vinh Son Song Hinh Hydropower JSC net assets. Based on the latest financial reports, Vinh Son Song Hinh Hydropower JSC (VSH) has net assets worth ₫4.86 Trillion VND (≈ $184.60 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₫8.28 Trillion ≈ $314.70 Million USD) and total liabilities (₫3.42 Trillion ≈ $130.11 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. Also explore Vinh Son Song Hinh Hydropower JSC equity growth rate to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₫4.86 Trillion |
| % of Total Assets | 58.66% |
| Annual Growth Rate | 7.86% |
| 5-Year Change | 23.42% |
| 10-Year Change | N/A |
| Growth Volatility | 11.37 |
Net Assets of Vinh Son Song Hinh Hydropower JSC (2019–2025)
Net assets of Vinh Son Song Hinh Hydropower JSC from 2019 to 2025. This chart illustrates how Vinh Son Song Hinh Hydropower JSC's net assets have evolved over time, based on quarterly financial data. See how leveraged is Vinh Son Song Hinh Hydropower JSC's balance sheet to measure how much of total assets are equity-financed.
Annual Net Assets for Vinh Son Song Hinh Hydropower JSC (2019–2025)
The table below shows the annual net assets of Vinh Son Song Hinh Hydropower JSC from 2019 to 2025. For live market cap and overall valuation, see VSH stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₫4.95 Trillion ≈ $188.06 Million |
+5.69% |
| 2024-12-31 | ₫4.68 Trillion ≈ $177.94 Million |
+1.92% |
| 2023-12-31 | ₫4.59 Trillion ≈ $174.58 Million |
-8.58% |
| 2022-12-31 | ₫5.03 Trillion ≈ $190.97 Million |
+25.33% |
| 2021-12-31 | ₫4.01 Trillion ≈ $152.37 Million |
+20.42% |
| 2020-12-31 | ₫3.33 Trillion ≈ $126.53 Million |
+5.93% |
| 2019-12-31 | ₫3.14 Trillion ≈ $119.44 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Vinh Son Song Hinh Hydropower 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 108.7% over the analyzed period, indicating profitable operations and earnings retention.
Vinh Son Song Hinh Hydropower JSC Net Assets Breakdown (December 2025)
Vinh Son Song Hinh Hydropower JSC net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₫2.20 Trillion | 44.39% |
| Other Components | ₫2.75 Trillion | 55.61% |
| Total Equity | ₫4.95 Trillion | 100.00% |
Vinh Son Song Hinh Hydropower JSC Competitors by Market Cap
The table below lists competitors of Vinh Son Song Hinh Hydropower JSC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ningbo Heli Mould Technology Co Ltd Class A
SHG:603917
|
$367.19 Million |
|
Newtechwood Corp
SHE:301588
|
$367.19 Million |
|
Haleon PLC
LSE:HLN
|
$367.23 Million |
|
Australian Ethical Investment Ltd
AU:AEF
|
$367.27 Million |
|
Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret AS
IS:SARKY
|
$366.87 Million |
|
Beijing Kaiwen Education Technology Co Ltd
SHE:002659
|
$366.82 Million |
|
Inzone Group Co Ltd
SHG:600858
|
$366.81 Million |
|
Henan Qingshuiyuan Technology Co Ltd
SHE:300437
|
$366.79 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Vinh Son Song Hinh Hydropower JSC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,683,300,432,489 to 4,949,775,273,145, a change of 266,474,840,656 (5.7%).
- Net income of 862,609,955,656 contributed positively to equity growth.
- Dividend payments of 708,723,709,500 reduced retained earnings.
- Other factors increased equity by 112,588,594,500.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₫862.61 Billion | +17.43% |
| Dividends Paid | ₫708.72 Billion | -14.32% |
| Other Changes | ₫112.59 Billion | +2.27% |
| Total Change | ₫- | 5.69% |
Book Value vs Market Value Analysis
This analysis compares Vinh Son Song Hinh Hydropower 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: 1.95x
- 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 2.85x to 1.95x 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 | ₫14336.97 | ₫40900.00 | x |
| 2020-12-31 | ₫15187.59 | ₫40900.00 | x |
| 2021-12-31 | ₫16976.08 | ₫40900.00 | x |
| 2022-12-31 | ₫21276.43 | ₫40900.00 | x |
| 2023-12-31 | ₫19449.88 | ₫40900.00 | x |
| 2024-12-31 | ₫19824.23 | ₫40900.00 | x |
| 2025-12-31 | ₫20952.21 | ₫40900.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Vinh Son Song Hinh Hydropower 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): 17.43%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 37.44%
- • Asset Turnover: 0.28x
- • Equity Multiplier: 1.65x
- Recent ROE (17.43%) is above the historical average (13.45%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 5.06% | 39.73% | 0.04x | 2.86x | ₫-155.36 Billion |
| 2020 | 5.65% | 55.28% | 0.04x | 2.91x | ₫-144.73 Billion |
| 2021 | 9.66% | 24.03% | 0.16x | 2.50x | ₫-13.77 Billion |
| 2022 | 25.16% | 41.00% | 0.32x | 1.93x | ₫762.21 Billion |
| 2023 | 21.63% | 38.65% | 0.27x | 2.07x | ₫534.50 Billion |
| 2024 | 9.57% | 24.56% | 0.21x | 1.84x | ₫-20.00 Billion |
| 2025 | 17.43% | 37.44% | 0.28x | 1.65x | ₫367.63 Billion |
Industry Comparison
This section compares Vinh Son Song Hinh Hydropower JSC's net assets metrics with peer companies in the Utilities - Regulated Electric industry.
Industry Context
- Industry: Utilities - Regulated Electric
- Average net assets among peers: $4,375,256,159,818
- Average return on equity (ROE) among peers: 14.85%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Vinh Son Song Hinh Hydropower JSC (VSH) | ₫4.86 Trillion | 5.06% | 0.70x | $367.11 Million |
| Ba Ria Thermal Power JSC (BTP) | $1.23 Trillion | 14.86% | 0.63x | $15.17 Million |
| Central Hydropower JSC (CHP) | $1.76 Trillion | 12.25% | 1.05x | $155.44 Million |
| PetroVietnam Power Nhon Trach 2 JSC (NT2) | $4.86 Trillion | 22.68% | 0.91x | $242.81 Million |
| Power Generation Corp 3 (PGV) | $15.77 Trillion | 6.75% | 2.73x | $868.64 Million |
| Can Don Hydro Power JSC (SJD) | $1.10 Trillion | 14.04% | 0.31x | $36.70 Million |
| Viet Nam Power Development JSC (VPD) | $1.53 Trillion | 18.53% | 0.31x | $85.04 Million |
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 … Read more