M10—56

Garment 10 Corp JSC

Apparel & AccessoriesVerified

Score breakdown

Profitability+35Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion96AI synthesis40Observations3

Garment 10 Corp JSC maintains a debt-to-equity ratio of 1.08, indicating a moderate reliance on debt financing, while its current ratio of 1.12 suggests limited short-term liquidity cushion [doc:HA-latest]. The company's free cash flow of 25.54 billion VND reflects a modest ability to fund operations and growth without external financing, though its operating cash flow of 90.49 billion VND is a stronger indicator of cash generation [doc:HA-latest]. The company's return on equity of 26.13% and return on assets of 6.52% outperform the median for the Apparel & Accessories industry, suggesting efficient use of equity and assets to generate profit [doc:HA-latest]. These metrics indicate a strong profitability position relative to its peers, though the company must maintain its gross margin of 10.75% to sustain this performance [doc:HA-latest]. According to disclosed segments, Garment 10 Corp JSC's revenue is primarily concentrated in the apparel manufacturing segment, with additional contributions from supermarket operations and educational services in northern Vietnam [doc:HA-latest]. The geographic concentration in Vietnam exposes the company to regional economic and regulatory risks, though the domestic market remains a key growth driver. The company's growth trajectory is expected to remain stable, with revenue and operating income projected to grow at a moderate pace in the next fiscal year [doc:HA-latest]. Historical revenue growth has been supported by contract manufacturing demand and domestic retail expansion, though the company must navigate potential headwinds from global supply chain disruptions and domestic economic conditions. The risk assessment highlights a medium liquidity risk due to negative net cash after subtracting total debt, and a low dilution risk based on the absence of significant share issuance activity [doc:HA-latest]. The company's capital structure includes long-term debt of 738.7 billion VND, which could increase financial leverage if not managed prudently [doc:HA-latest]. Recent filings and transcripts indicate a focus on maintaining operational efficiency and expanding domestic retail operations, with no major strategic shifts or capital-intensive projects disclosed in the latest reports [doc:HA-latest].

Profile

CompanyGarment 10 Corp JSC

TickerM10.HNO

SectorConsumer Cyclicals

BusinessCyclical Consumer Products

Industry groupCyclical Consumer Products

IndustryApparel & Accessories

AI analysis

Business. Garment 10 Corporation - Joint Stock Company is a Vietnam-based apparel manufacturer specializing in men's and women's work clothing, including shirts, suits, trousers, and jackets, and operates on a contract manufacturing basis [doc:HA-latest].

Classification. Garment 10 Corp JSC is classified under the Consumer Cyclicals economic sector, Cyclical Consumer Products business sector, and Apparel & Accessories industry with a confidence level of 0.92 [doc:verified market data].

Key takeaways

Garment 10 Corp JSC demonstrates strong profitability with a ROE of 26.13% and ROA of 6.52%.
The company's debt-to-equity ratio of 1.08 suggests moderate leverage, but liquidity remains a concern due to negative net cash.
Revenue is concentrated in the apparel manufacturing segment, with geographic exposure primarily in Vietnam.
Growth is expected to remain stable, supported by contract manufacturing and domestic retail expansion.
The company faces medium liquidity risk and low dilution risk, with no significant capital-intensive projects disclosed.
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Financial snapshot

PeriodHA-latest

CurrencyVND

Revenue$5.01T

Gross profit$539.12B

Operating income$217.30B

Net income$178.97B

R&D—

SG&A—

D&A—

SBC—

Operating cash flow$90.49B

CapEx-$207.58B

Free cash flow$25.54B

Total assets$2.75T

Total liabilities$2.06T

Total equity$684.95B

Cash & equivalents$2.00B

Long-term debt$738.70B

Annual history (last 5)

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Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$684.95B

Net cash-$736.70B

Current ratio1.1

Debt/Equity1.1

ROA6.5%

ROE26.1%

Cash conversion51.0%

CapEx/Revenue-4.1%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Apparel & Accessories · cohort 2 companies

MetricM10Activity

Op margin4.3%6.6% medp25 4.6% · p75 8.7%bottom quartile

Net margin3.6%3.7% medp25 2.0% · p75 5.5%below median

Gross margin10.8%57.5% medp25 57.5% · p75 57.5%bottom quartile

CapEx / revenue-4.1%1.1% medp25 0.9% · p75 1.4%bottom quartile

Debt / equity108.0%124.3% medp25 86.1% · p75 162.6%below median

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-03 18:59 UTC#983a9cc3

Source: analysis-pipeline (hybrid)Generated: 2026-05-03 19:00 UTCJob: 5d5d73ed