Vinh Son - Song Hinh Hydropower JSC (HOSE:VSH)

HOSE:VSH Ratios and Metrics

Market cap in millions VND. Fiscal year is January - December.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 16, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Capitalization	10,264,682	10,512,735	11,599,445	10,583,608	7,465,223	6,780,124
Market Cap Growth	-15.79%	-9.37%	9.60%	41.77%	10.11%	74.87%
Enterprise Value	12,504,022	12,731,376	14,614,130	14,240,616	11,727,336	11,980,997
PE Ratio	11.90	12.19	25.87	10.71	5.94	18.06
PS Ratio	4.45	4.56	6.36	4.12	2.42	4.21
PB Ratio	2.07	2.12	2.48	2.30	1.49	1.69
P/FCF Ratio	7.33	7.51	7.45	10.26	5.54	15.92
P/OCF Ratio	7.29	7.46	7.36	9.82	4.96	8.99
EV/Sales Ratio	5.43	5.53	8.01	5.54	3.80	7.44
EV/EBITDA Ratio	7.14	7.27	10.32	6.83	4.62	9.66
EV/EBIT Ratio	10.78	10.98	17.70	9.50	6.03	15.57
EV/FCF Ratio	8.93	9.10	9.38	13.81	8.70	28.14
Debt / Equity Ratio	0.55	0.55	0.72	0.81	0.81	1.26
Debt / EBITDA Ratio	1.55	1.55	2.37	1.79	1.60	4.09
Debt / FCF Ratio	1.93	1.93	2.15	3.63	3.01	11.91
Net Debt / Equity Ratio	0.45	0.45	0.64	0.79	0.78	1.25
Net Debt / EBITDA Ratio	1.28	1.28	2.11	1.73	1.55	4.05
Net Debt / FCF Ratio	1.60	1.60	1.92	3.50	2.91	11.78
Quick Ratio	2.69	2.69	1.96	1.10	1.64	0.62
Current Ratio	2.97	2.97	2.27	1.22	1.89	0.79
Asset Turnover	0.28	0.28	0.20	0.27	0.31	0.16
Return on Equity (ROE)	17.91%	17.91%	9.66%	20.66%	27.99%	10.55%
Return on Assets (ROA)	8.64%	8.64%	5.69%	9.73%	12.32%	4.88%
Return on Capital Employed (ROCE)	15.00%	15.00%	10.20%	18.00%	21.30%	8.40%
Earnings Yield	8.40%	8.21%	3.86%	9.39%	16.94%	5.71%
FCF Yield	13.64%	13.32%	13.43%	9.75%	18.05%	6.28%
Dividend Yield	6.93%	6.90%	4.40%	9.93%	12.13%	4.59%
Payout Ratio	82.16%	82.16%	210.78%	71.30%	18.68%	-
Buyback Yield / Dilution	-0.01%	-0.01%	-	-	-1.23%	-13.15%
Total Shareholder Return	6.92%	6.89%	4.40%	9.93%	10.90%	-8.56%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.