Hoa Phat Group JSC

Hoa Phat Group maintains a capital structure characterized by significant leverage, with long-term debt of 92.17 trillion VND against total equity of 129.18 trillion VND, resulting in a debt-to-equity ratio of 0.71. The company holds 3.70 trillion VND in cash and equivalents, which is insufficient to cover total debt, leading to a negative net cash position. Liquidity is assessed as medium, supported by a current ratio of 1.1, indicating adequate but tight short-term coverage of liabilities. Operating cash flow stands at 17.37 trillion VND, providing a robust buffer against debt obligations despite the negative free cash flow of -1.90 trillion VND driven by heavy capital expenditures of 25.75 trillion VND.

Profitability metrics demonstrate strong returns on capital, with a return on equity (ROE) of 16.34% and a return on assets (ROA) of 8.18%. The company generated net income of 15.45 trillion VND on revenue of 156.12 trillion VND, reflecting a net margin of approximately 9.9%. Operating income of 17.91 trillion VND indicates efficient cost management relative to gross profit of 24.50 trillion VND. These returns suggest effective utilization of assets and equity, although the high capital expenditure intensity may pressure near-term free cash flow generation.

Segment and geographic revenue breakdowns are not provided in the available data, preventing a detailed analysis of revenue concentration or regional exposure. The company’s activity is broadly classified under Metals & Mining, implying exposure to commodity cycles and industrial demand trends, but specific product mix details are absent from the current snapshot.

Growth trajectory analysis is limited due to the absence of historical period data in the input. The current financial snapshot reflects a single normalized period, with no year-over-year or quarter-over-quarter trends available to assess revenue or earnings momentum. The significant capital expenditure of 25.75 trillion VND suggests ongoing investment in capacity or efficiency, which may drive future growth, but the immediate impact on revenue trends cannot be quantified from the provided data.

Risk assessment highlights medium liquidity risk and low dilution risk. The key flag notes that net cash is negative after subtracting total debt, emphasizing reliance on operating cash flow and external financing for debt service. The absence of diluted shares outstanding differences indicates no immediate equity dilution from options or convertible securities. The high capital expenditure relative to free cash flow poses a near-term cash flow risk, requiring sustained operating performance to fund investments without increasing leverage further.

Recent analyst observations indicate strong market confidence, with a mean recommendation of 1.40 (strong buy) and a mean price target of 33,067.77 VND. Six analysts issued strong-buy ratings and four issued buy ratings, with no hold ratings, reflecting unanimous positive sentiment. The price target range spans from 30,227.27 VND to 35,400.00 VND, suggesting limited downside risk according to current market consensus. No specific filing, news, or transcript events are detailed in the input, limiting further event-driven analysis.

Analysts project 48.8% upside to a mean price target of 35,714 VND, reflecting strong buy consensus.

Net income surged 28.5% year-over-year to 15.5 trillion VND in the latest fiscal period.

Revenue grew 12.4% year-over-year to 156.1 trillion VND, demonstrating robust top-line expansion.

Long-term debt increased to 92.2 trillion VND, rising steadily from 57.2 trillion VND in 2022.

Free cash flow remains deeply negative at -1.9 trillion VND, worsening from -16.6 trillion VND prior.

Debt-to-equity ratio of 0.71 is nearly double the cohort median of 0.39, signaling higher leverage.

Net income CAGR of -18.2% over four years indicates significant long-term earnings volatility.

Medium liquidity and credit risk flags suggest potential challenges in meeting short-term obligations.

Revenue VND 52.90T, +40,6% YoY; Operating income +181,2% YoY.

• ▍Revenue VND 52.90T, +40,6% YoY
• ▍Operating income +181,2% YoY
• ▍Net income +168,9% YoY
• ▍Free cash flow +712,9% YoY
• ▍Net margin 17.0%

Revenue VND 46.18T, +33,9% YoY; Operating income +38,3% YoY.

• ▍Revenue VND 46.18T, +33,9% YoY
• ▍Operating income +38,3% YoY
• ▍Net income +37,6% YoY
• ▍Free cash flow +276,2% YoY
• ▍Net margin 8.4%

Revenue VND 36.41T, +7,2% YoY; Operating income +35,0% YoY.

• ▍Revenue VND 36.41T, +7,2% YoY
• ▍Operating income +35,0% YoY
• ▍Net income +31,9% YoY
• ▍Free cash flow −50,2% YoY
• ▍Net margin 11.0%

Revenue VND 35.91T, −9,2% YoY; Operating income +34,4% YoY.

• ▍Revenue VND 35.91T, −9,2% YoY
• ▍Operating income +34,4% YoY
• ▍Net income +28,2% YoY
• ▍Free cash flow +30,3% YoY
• ▍Net margin 11.9%

Revenue VND 37.62T; Operating income VND 3.81T.

• ▍Revenue VND 37.62T
• ▍Operating income VND 3.81T
• ▍Net margin 8.9%

Revenue VND 34.49T; Operating income VND 3.30T.

• ▍Revenue VND 34.49T
• ▍Operating income VND 3.30T
• ▍Net margin 8.1%

Revenue VND 33.96T; Operating income VND 3.39T.

• ▍Revenue VND 33.96T
• ▍Operating income VND 3.39T
• ▍Net margin 8.9%

Revenue VND 39.56T; Operating income VND 3.69T.

• ▍Revenue VND 39.56T
• ▍Operating income VND 3.69T
• ▍Net margin 8.4%

Revenue VND 156.12T, +12,4% YoY; Operating income +35,0% YoY.

• ▍Revenue VND 156.12T, +12,4% YoY
• ▍Operating income +35,0% YoY
• ▍Net income +28,6% YoY
• ▍Free cash flow +88,5% YoY
• ▍Net margin 9.9%

Revenue VND 138.86T, +16,7% YoY; Operating income +73,4% YoY.

• ▍Revenue VND 138.86T, +16,7% YoY
• ▍Operating income +73,4% YoY
• ▍Net income +75,9% YoY
• ▍Free cash flow −334,7% YoY
• ▍Net margin 8.7%

Revenue VND 118.95T, −15,9% YoY; Operating income −21,9% YoY.

• ▍Revenue VND 118.95T, −15,9% YoY
• ▍Operating income −21,9% YoY
• ▍Net income −19,4% YoY
• ▍Free cash flow +23,5% YoY
• ▍Net margin 5.7%

Revenue VND 141.41T, −5,5% YoY; Operating income −73,5% YoY.

• ▍Revenue VND 141.41T, −5,5% YoY
• ▍Operating income −73,5% YoY
• ▍Net income −75,4% YoY
• ▍Free cash flow −118,3% YoY
• ▍Net margin 6.0%