HJC

Hòa Việt ·UPCOM ·2026Q1

▲ Slightly positive

Earnings conversion is confirmed CFO/NPAT 2.88x

Price

7,700

Latest close

04 Jun 2026

P/E 5.39x

P/B 0.51x

EPS 1,429

BVPS 15,189

ROE 9.7%

ROA 4.8%

Profit Margin 1.4%

Asset Turnover 3.34x

Equity Mult. 2.02x

TTM · Applied to: EPS, ROE, ROA, Net Margin, Asset Turnover, Debt/Equity

What Is Changing

On a TTM 2026Q1 basis, HJC posted slightly higher profit versus the same period, but the increase is thin and not yet paired with clear improvement in revenue or margins — profit is at an all-time high. The point still to be proven is whether this profit level holds without further revenue momentum.

	                            
	                                TTM REVENUE
	                            
	                                    VND 1,281bn
	                                
+49.2%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 18bn
	                                
+7.0%YoY

Metric	2025	2024	2023	2022	2021
Revenue	1,083.1	852.5	608.7	551.6	495.0
Growth	+27%	+40%	+10%	+11%	—
Net Income	17.1	12.7	8.9	7.7	16.1
Net Margin	1.58%	1.49%	1.46%	1.39%	3.26%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	248.3	245.9	264.4	522.5	50.4	276.4	279.8	252.2	44.1	156.5	184.1	235.2
Growth	+1%	-7%	-49%	+937%	-82%	-1%	+11%	+472%	-72%	-15%	-22%	—
Net Income	3.4	-0.7	6.1	9.5	2.1	3.4	5.4	6.2	-1.0	3.6	1.4	4.8
Net Margin	1.36%	-0.27%	2.32%	1.82%	4.23%	1.24%	1.93%	2.46%	-2.21%	2.31%	0.76%	2.05%

Drivers of HJC's profit

TTM

Net profit attributable to parent increased vs last year, mainly helped by higher gross profit. Supporting and offsetting drivers:

Gross profit ↑ 30.4bn

Selling expenses ↑ 13.9bn

Administrative expenses ↑ 10.1bn

Finance costs ↑ 4.2bn

Tax ↑ 0.8bn

TTM

Net profit attributable to parent increased vs prior quarter, mainly helped by higher gross profit. Supporting and offsetting drivers:

Gross profit ↑ 9.9bn

Administrative expenses ↑ 7.1bn

Finance costs ↑ 0.7bn

Selling expenses ↑ 0.5bn

Tax ↑ 0.3bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 9.7% = 2.0% × 2.61 × 1.85

2026Q1 9.7% = 1.4% × 3.34 × 2.02

ROE is broadly flat at 9.7% — the components are offsetting one another.

Net margin: 1.4% -0.6pp Asset turnover: 3.34x +0.73x Leverage: 2.02x +0.17x

Is the profit sustainable?

Margins narrowed but earnings quality remains clean — pressure is mainly operational.

very positive positive stable watch under pressure

What is driving the margin?

Net margin narrowed to 1.43%, falling 0.6pp. The main pressure is Gross margin fell 1.4pp, outweighing the improvement in SG&A / Revenue fell 0.9pp (with lingering pressure from Net financial result / Revenue fell 0.2pp).

The pressure comes from core operations — this is a concerning type of decline, not a one-off movement.

Profitability trend

Net Margin 1.43% −0.6pp

Gross Margin 10.04% −1.4pp

SG&A / Revenue 7.58% −0.9pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Evaluate capital, asset, and working-capital efficiency.

Is capital being deployed efficiently?

ROIC stands at 5.87%, broadly flat versus the same period. That translates to 5.87 in after-tax operating profit for every 100 units of operating capital. NOPAT margin narrowed 0.6pp, but capital turnover rose 1.00x, with invested capital holding roughly steady — the two factors are offsetting each other, keeping overall ROIC nearly unchanged.

Overall ROIC is flat while internal components are moving — watch which side becomes dominant in coming periods.

CAPITAL EFFICIENCY TREND

ROIC 5.87% −0.3pp

NOPAT Margin 1.43% −0.6pp

Capital Turnover 4.11x +1.00x

Average Invested Capital 311.8bn +35.5bn

Balance Sheet

Capital structure is balanced — liabilities at 1.73x equity, net debt at 0.51x equity.

Inventory ended the period at 292.2bn, roughly 55.7% of total assets.

Over the last 12 months, working capital released 25.0bn of cash, mainly thanks to lower inventories and higher payables. Pressure from higher receivables only partly offset that benefit.

Working Capital Drivers

Receivables increased → lower CFO: −24.3bn

Inventories decreased → higher CFO: +41.4bn

Payables increased → higher CFO: +7.9bn

Working Capital Efficiency

Working capital is being managed more efficiently, supporting overall capital efficiency. Cash conversion cycle improved by 9.9 days versus the same period last year. The main moves came from DIO fell 7.9 days, DSO fell 6.8 days, and DPO fell 4.9 days.

Improvement comes mainly from faster inventory turnover — watch whether this trend persists in coming periods.

Working Capital Efficiency

Receivables 42.3 days −6.8 days

Inventory 57.8 days −7.9 days

Payables 12.1 days −4.9 days

Cash Conversion Cycle 88.0 days −9.9 days

Is financial risk significant?

Check leverage, liquidity, and cash-flow conversion.

Leverage & Liquidity

Leverage is balanced for now, with net debt / equity at 0.51x and interest coverage at 2.67x.

At present, short-term debt accounts for 100.0% of total debt, cash equals 7.9% of debt, and total debt stands at 107.8bn.

Watchpoints

Short-term refinancing pressure is meaningful

Short-term debt accounts for 100.0% of total debt, raising near-term refinancing needs.

Cash buffer is thin relative to debt

Cash / debt stands at 7.9%, leaving limited liquidity buffer to monitor.

Leverage and liquidity trend

Net Debt / Equity 0.51x −0.29x

Interest Coverage 2.67x −1.94x

Cash / Debt 7.9% +4.9pp

Short-term Debt / Total Debt 100.0% 0.0pp

CFO / NI 2.88x +11.33x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

Operating cash flow reached -45.1bn in 2025, against investing cash flow of -6.8bn.

Post-investment cash flow was negative +51.9bn. Financing cash flow was positive +55.7bn.

CFO / net income was 2.88x.

After spending +6.8bn on fixed-asset investment, the business generated trailing free cash flow of +46.2bn.

Cash Conversion

CFO TTM 53.0bn +197.8bn

Cash Capex 6.8bn +1.4bn

FCF TTM +46.2bn +196.4bn

Investment Takeaway

The business is heading the right way, but the current picture is still at partial confirmation — not yet a fully clean case. The positive points have clearly improved, showing the operating base is better than before. The brighter spot is earnings conversion is confirmed, with CFO/NI at 2.88x. The main risk still sits in leverage and liquidity, with interest coverage at 2.67x.

Improvement: earnings conversion looks more confirmed, with CFO / net income at 2.88x.

Key risk: leverage and liquidity remain a pressure point, with net debt / equity at 0.51x and a thin cash buffer.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	1,083.1	852.5	608.7	551.6	495.0
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	1,083.1	852.5	608.7	551.6	495.0
Cost of Goods Sold	964.3	766.7	541.1	491.5	0.0
Gross Profit	118.8	85.8	67.6	60.2	53.9
Financial Income	0.8	1.6	1.6	0.1	0.1
Financial Expenses	8.2	3.7	3.5	2.5	-2.4
Interest Expense	8.1	3.6	3.5	2.5	-2.4
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	33.5	20.4	6.9	6.4	-6.1
General and Administrative Expenses	55.9	47.2	47.5	41.6	-38.5
Operating Profit	21.9	16.1	11.2	9.7	7.0
Other Income	0.1	0.2	0.1	0.1	0.0
Other Expenses	—	0.0	0.0	0.2	0.0
Other Profit	0.1	0.1	0.1	-0.0	9.6
Profit Before Tax	22.1	16.2	11.3	9.7	16.6
Current Income Tax Expense	5.0	3.5	2.4	2.0	-0.4
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	17.1	12.7	8.9	7.7	16.1
Non-controlling Interest	—	0.0	0.0	0.0	-0.0
Profit Attributable to Parent	17.1	12.7	8.9	7.7	16.1
Earnings per Share	1,333.00	989.00	691.00	597.00	238.00
Diluted EPS	1,332.57	988.95	690.87	597.32	1,255.29

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	473.5	264.2	207.8	158.5	143.5
I. Cash and cash equivalents	7.6	3.8	10.2	13.5	3.4
1. Cash	7.6	3.8	2.2	13.5	0.0
2. Cash equivalents	—	0.0	8.0	0.0	0.0
II. Short-term financial investments	—	0.0	56.0	0.0	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	—	0.0	56.0	0.0	0.0
III. Short-term receivables	167.1	71.5	85.0	108.0	113.8
1. Short-term trade accounts receivable	176.4	83.8	97.6	119.6	0.0
2. Short-term prepayments to suppliers	4.6	1.7	1.0	2.4	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	1.7	1.8	2.4	2.2	0.0
7. Provision for short-term doubtful debts (*)	-15.7	-15.8	-16.1	-16.2	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	292.2	181.2	50.8	31.0	23.7
1. Inventories	292.2	181.2	50.8	31.0	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	6.6	7.8	5.8	6.0	2.5
1. Short-term prepayments	1.3	3.5	2.7	3.3	0.0
2. Value added tax to be reclaimed	5.2	4.3	3.1	2.3	0.0
3. Taxes and other receivables from state authorities	0.2	0.0	0.0	0.4	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	51.0	51.5	52.2	56.2	61.5
I. Long-term receivables	—	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	47.6	48.5	51.3	55.0	59.1
1. Tangible fixed assets	46.9	47.7	50.6	54.1	58.2
- Cost	300.4	294.2	292.4	287.7	0.0
- Accumulated depreciation	-253.5	-246.5	-241.8	-233.5	0.0
2. Financial leased fixed assets	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
3. Intangible fixed assets	0.7	0.9	0.7	0.8	0.9
- Cost	4.4	4.4	4.2	4.2	0.0
- Accumulated depreciation	-3.7	-3.5	-3.4	-3.3	0.0
III. Investment properties	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	2.1	0.6	0.5	0.5	0.5
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	2.1	0.6	0.5	0.5	0.0
V. Long-term financial investments	—	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	0.0	0.0	0.0	0.0
3. Investments in other entities	—	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	1.2	2.4	0.4	0.7	0.0
1. Long-term prepayments	1.2	2.4	0.4	0.7	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	1.9
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	524.5	315.7	260.0	214.6	205.0
A. LIABILITIES (300=210+330)	332.6	134.3	87.6	49.6	46.2
I. Short -term liabilities	332.6	134.3	87.6	49.6	46.2
1. Short-term trade accounts payable	165.9	45.1	60.7	27.7	21.2
2. Short-term advances from customers	7.7	6.0	6.4	6.0	3.0
3. Taxes and other payables to state authorities	0.1	0.3	1.0	0.0	0.0
4. Payable to employees	26.6	12.5	12.8	14.1	0.0
5. Short-term acrrued expenses	1.3	0.6	0.7	0.3	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	—	0.0	0.0	0.2	0.1
9. Other short-term payables	1.4	1.3	1.1	1.2	0.0
10. Short-term borrowings and financial leases	121.1	65.4	4.4	0.0	5.5
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	8.5	3.0	0.5	0.0	0.0
13. Price stabilization fund	—	0.0	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0	0.0
II. Long-term liabilities	—	0.0	0.0	0.0	0.0
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	191.9	181.4	172.4	165.1	158.8
I. Owner's equity	191.9	181.4	172.4	165.1	0.0
1. Owner's capital	128.5	128.5	128.5	128.5	158.8
- Common stock with voting right	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	—	0.0	0.0	0.0	0.0
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	—	0.0	0.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	22.0	22.0	22.0	21.7	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	7.4	7.4	7.4	7.4	0.0
11. Undistributed earnings after tax	33.8	23.4	14.4	7.4	1.2
- Accumulated retained earning at the end of the previous period	16.7	10.7	5.5	-0.3	-15.0
- Undistributed earnings in this period	17.1	12.7	8.9	7.7	16.1
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	—	0.0	0.0	0.0	0.0
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	524.5	315.7	260.0	214.6	205.0

Item	2025	2024	2023	2022	2021
Profit Before Tax	22.1	16.2	11.3	9.7	16.6
Depreciation of Fixed Assets and Investment Property	7.7	8.1	8.4	8.6	8.3
Provision (Increase)/Reversal	-0.2	-0.2	-0.1	0.2	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.4	-0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-0.0	-0.9	-1.5	0.0	0.0
Interest Expense	8.1	3.6	3.5	2.5	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	—	0.0	0.0	0.0	0.0
Operating Profit Before Changes in Working Capital	37.3	26.7	21.6	21.0	17.7
Increase/(Decrease) in Receivables	-101.5	9.0	23.4	4.5	0.0
Increase/(Decrease) in Inventory	-111.0	-130.3	-19.9	-7.3	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	141.2	-14.4	31.4	8.6	0.0
Increase/(Decrease) in Prepaid Expenses	3.4	-2.8	0.8	-1.5	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-8.0	-3.6	-3.5	-2.5	0.0
Corporate Income Tax Paid	-5.3	-4.3	-1.0	-2.8	0.0
Other Operating Receipts	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-1.2	-1.2	-0.7	0.0	0.0
Net Cash Flow from Operating Activities	-45.1	-120.8	52.2	20.0	-47.2
Payments for Fixed Assets and Other Long-term Assets	-7.2	-4.2	-4.7	-4.5	-1.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.1	0.2	0.0	0.0	0.5
Loans and Purchases of Debt Instruments	—	0.0	-105.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	56.0	49.0	0.0	0.0
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	0.4	1.5	0.9	0.0	0.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-6.8	53.5	-59.8	-4.4	8.6
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	495.4	464.5	306.9	19.7	271.3
Repayment of Borrowings	-439.7	-403.5	-302.5	-25.3	-265.8
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-0.0	-0.0	-0.0	-0.0	-0.0
Other Financing Receipts	—	0.0	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	55.7	61.0	4.4	-5.5	5.5
Net Cash Flow During the Period	3.8	-6.4	-3.3	10.0	-0.2
Cash and Cash Equivalents at Beginning of Period	3.8	10.2	13.5	3.4	36.5
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	7.6	3.8	10.2	13.5	3.4

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	248.3	245.9	264.4	522.5	50.4	276.4	279.8	252.2	44.1	156.5	184.1	235.2
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	248.3	245.9	264.4	522.5	50.4	276.4	279.8	252.2	44.1	156.5	184.1	235.2
Cost of Goods Sold	223.2	226.5	234.1	468.6	35.2	258.3	234.1	232.9	37.7	136.0	161.7	218.4
Gross Profit	25.1	19.4	30.3	53.9	15.2	18.1	45.7	19.3	6.4	20.5	22.4	16.8
Financial Income	0.0	0.4	0.2	0.2	0.0	0.0	0.4	0.5	0.7	1.0	0.6	0.0
Financial Expenses	1.9	1.6	2.6	2.6	1.3	0.8	1.3	1.2	0.3	0.6	2.3	0.6
Interest Expense	1.9	1.6	2.6	2.6	1.3	0.8	1.3	1.2	0.3	0.6	2.3	0.6
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	3.9	5.1	14.9	10.2	3.3	4.5	8.5	3.7	1.0	1.8	3.0	1.2
General and Administrative Expenses	15.1	13.5	5.3	29.3	7.9	8.5	29.4	7.2	6.8	14.5	15.9	9.1
Operating Profit	4.2	-0.4	7.7	11.9	2.7	4.3	6.8	7.6	-1.0	4.6	1.7	5.9
Other Income	—	0.1	—	0.0	0.1	0.2	0.0	0.0	0.0	0.0	0.0	0.0
Other Expenses	—	—	0.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Profit	—	0.1	-0.0	0.0	0.1	0.2	-0.0	-0.0	0.0	0.0	0.0	0.0
Profit Before Tax	4.2	-0.3	7.7	12.0	2.7	4.4	6.8	7.6	-1.0	4.6	1.7	5.9
Current Income Tax Expense	0.9	0.4	1.6	2.4	0.6	1.0	1.4	1.4	0.0	1.0	0.4	1.0
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	3.4	-0.7	6.1	9.5	2.1	3.4	5.4	6.2	-1.0	3.6	1.4	4.8
Non-controlling Interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	3.4	-0.7	6.1	9.5	2.1	3.4	5.4	6.2	-1.0	3.6	1.4	4.8
Earnings per Share	262.00	-51.00	478.00	740.00	166.00	266.00	421.00	482.00	-76.00	281.00	108.00	375.00
Diluted EPS	262.23	-51.26	477.56	740.18	165.73	266.17	420.81	482.46	-75.95	281.34	108.42	375.49

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	323.8	473.5	391.1	585.9	341.2	272.3	285.1	305.7	214.8	207.8	208.8	236.1
I. Cash and cash equivalents	8.6	7.6	37.1	2.6	4.6	3.8	12.3	2.5	2.2	10.2	53.9	2.9
1. Cash	8.6	7.6	37.1	2.6	4.6	3.8	12.3	2.5	2.2	2.2	4.9	2.9
2. Cash equivalents	—	—	—	—	—	0.0	0.0	0.0	0.0	8.0	49.0	0.0
II. Short-term financial investments	—	—	—	—	—	0.0	0.0	0.0	56.0	56.0	0.0	0.0
1. Available for sale securities	—	—	—	—	—	0.0	0.0	0.0	0.0	56.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	—	—	—	—	—	0.0	0.0	0.0	56.0	0.0	0.0	0.0
III. Short-term receivables	155.1	167.1	62.4	267.3	117.0	71.5	54.9	87.9	89.7	85.0	35.5	108.4
1. Short-term trade accounts receivable	167.0	176.4	74.5	280.4	129.8	83.8	56.9	100.7	101.2	97.6	47.4	101.3
2. Short-term prepayments to suppliers	1.4	4.6	1.4	0.7	0.7	1.7	11.6	1.3	1.0	1.0	2.0	21.4
3. Short-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	2.3	1.7	2.2	1.9	2.3	1.8	2.3	1.8	3.5	2.4	2.2	2.0
7. Provision for short-term doubtful debts (*)	-15.7	-15.7	-15.7	-15.7	-15.8	-15.8	-15.8	-15.9	-16.1	-16.1	-16.2	-16.2
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	152.4	292.2	285.7	310.1	212.6	184.8	213.7	211.8	61.3	50.8	115.7	118.8
1. Inventories	152.4	292.2	285.7	310.1	212.6	184.8	213.7	211.8	61.3	50.8	115.7	118.8
2. Provision for decline in value of inventories	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	7.8	6.6	6.0	6.0	7.0	12.1	4.1	3.4	5.6	5.8	3.8	6.0
1. Short-term prepayments	4.8	1.3	2.4	2.5	3.5	7.9	1.3	0.9	2.4	2.7	1.3	3.7
2. Value added tax to be reclaimed	3.0	5.2	3.6	3.6	3.5	4.3	2.8	2.5	2.7	3.1	2.4	2.3
3. Taxes and other receivables from state authorities	—	0.2	—	0.0	0.0	0.0	0.0	0.0	0.5	0.0	0.0	0.0
4. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	49.5	51.0	51.3	52.3	52.0	49.7	47.0	48.5	50.0	52.2	51.0	52.0
I. Long-term receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Provision for long-term doubtful debts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	46.4	47.6	47.7	48.4	47.8	48.5	45.7	47.1	49.2	51.3	50.1	50.8
1. Tangible fixed assets	45.7	46.9	47.0	47.5	46.9	47.7	45.0	46.4	48.5	50.6	49.4	50.0
- Cost	301.1	—	—	—	—	294.2	293.0	292.4	292.4	292.4	289.0	287.7
- Accumulated depreciation	-255.5	—	—	—	—	-246.5	-248.0	-246.0	-243.9	-241.8	-239.7	-237.6
2. Financial leased fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	0.7	0.7	0.8	0.8	0.8	0.9	0.7	0.7	0.7	0.7	0.7	0.8
- Cost	4.4	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-3.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	2.2	2.1	2.1	2.1	2.1	0.6	0.5	0.5	0.5	0.5	0.5	0.5
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.5	0.5	0.5
2. Construction in progress	2.2	2.1	2.1	2.1	2.1	0.6	0.5	0.5	0.5	0.1	0.0	0.0
V. Long-term financial investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Investments in subsidiaries	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Investments in other entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	0.9	1.2	1.5	1.8	2.1	0.6	0.8	0.9	0.3	0.4	0.5	0.7
1. Long-term prepayments	0.9	1.2	1.5	1.8	2.1	0.6	0.8	0.9	0.3	0.4	0.5	0.7
2. Deferred income tax assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	373.3	524.4	442.4	638.2	393.1	322.0	332.1	354.3	264.7	260.0	259.9	288.1
A. LIABILITIES (300=210+330)	178.1	332.6	249.9	451.8	209.6	139.3	152.7	180.3	93.3	87.6	91.1	120.8
I. Short -term liabilities	178.1	332.6	249.9	451.8	209.6	139.3	152.7	180.3	93.3	87.6	91.1	120.8
1. Short-term trade accounts payable	34.3	165.9	35.9	141.7	41.8	45.1	40.9	54.4	28.7	60.7	14.5	23.4
2. Short-term advances from customers	7.0	7.7	7.4	6.4	6.0	6.0	6.5	6.0	6.0	6.4	11.6	11.0
3. Taxes and other payables to state authorities	1.2	0.1	6.1	3.4	0.9	0.7	4.1	1.3	0.5	1.0	3.1	1.3
4. Payable to employees	8.1	26.6	28.9	18.9	3.3	17.2	24.0	5.1	2.1	12.8	15.4	2.4
5. Short-term acrrued expenses	1.1	1.3	13.3	12.1	3.1	0.6	16.3	4.9	0.6	0.7	10.0	4.2
6. Short-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	8.8	—	8.8	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	1.3	1.4	2.0	1.6	1.5	1.3	1.6	1.4	1.2	1.1	1.7	1.4
10. Short-term borrowings and financial leases	107.8	121.1	139.0	258.6	150.4	65.4	55.7	103.4	54.1	4.4	34.1	76.2
11. Provision for short-term liabilities	8.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	—	8.5	8.5	9.1	2.6	3.0	3.6	3.9	0.2	0.5	0.7	0.8
13. Price stabilization fund	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Long-term trade payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Long-term borrowings and financial leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Convertible bonds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	195.2	191.9	192.5	186.4	183.5	182.7	179.3	173.9	171.4	172.4	168.8	167.4
I. Owner's equity	195.2	191.9	192.5	186.4	183.5	182.7	179.3	173.9	171.4	172.4	168.8	167.4
1. Owner's capital	128.5	128.5	128.5	128.5	128.5	128.5	128.5	128.5	128.5	128.5	128.5	128.5
- Common stock with voting right	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00	128,530,520,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Convertible bond option	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
5. Treasury shares	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	22.0	22.0	22.0	22.0	22.0	22.0	22.0	22.0	22.0	22.0	22.0	22.0
9. Fund to support corporate restructuring	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4	7.4
11. Undistributed earnings after tax	37.2	33.8	34.5	28.4	25.5	24.7	21.3	15.9	13.4	14.4	10.8	9.4
- Accumulated retained earning at the end of the previous period	33.8	16.7	16.7	16.7	23.4	10.7	10.7	10.7	14.4	5.5	5.5	5.5
- Undistributed earnings in this period	3.4	17.1	17.8	11.6	2.1	14.1	10.6	5.2	-1.0	8.9	5.3	3.9
12. Reserves for investment in construction	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
14. Financial reserves	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	373.3	524.4	442.4	638.2	393.1	322.0	332.1	354.3	264.7	260.0	259.9	288.1

Item	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23
Profit Before Tax	4.2	-0.3	7.7	12.0	2.7	4.4	6.8	7.6	-1.0	6.0	0.4	5.9
Depreciation of Fixed Assets and Investment Property	2.0	2.1	1.8	2.4	1.4	1.9	2.0	2.1	2.1	2.1	2.1	2.1
Provision (Increase)/Reversal	—	-0.1	-0.0	-0.1	-0.0	0.0	-0.1	-0.2	0.0	-0.1	0.0	-0.0
FX Gain/Loss from Revaluation of Monetary Items	—	-0.4	—	—	-0.0	-0.0	0.0	-0.1	0.0	0.0	-0.0	0.0
Gain/Loss from Investment Activities	-0.0	0.4	-0.3	-0.0	-0.1	0.6	-0.4	-0.4	-0.7	-0.9	-0.6	-0.0
Interest Expense	1.9	1.6	2.6	2.6	1.3	0.8	1.3	1.2	0.3	0.6	2.3	0.6
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.1
Operating Profit Before Changes in Working Capital	8.2	3.3	11.9	16.9	5.3	7.7	9.6	10.3	0.7	7.8	4.1	8.6
Increase/(Decrease) in Receivables	31.9	-106.8	203.3	-152.7	-45.2	-19.1	31.4	1.1	-4.8	-49.7	73.0	-27.3
Increase/(Decrease) in Inventory	121.0	-6.5	24.4	-97.5	-31.4	28.8	-1.8	-150.5	-10.5	64.8	3.1	-53.7
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-141.2	-44.1	66.4	126.8	-7.9	-19.1	17.7	33.7	-41.7	25.2	13.3	-6.3
Increase/(Decrease) in Prepaid Expenses	-2.5	1.5	0.3	1.4	0.3	-6.4	-0.3	0.9	0.3	-1.5	2.7	1.1
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-1.9	-1.5	-2.6	-2.6	-1.3	-3.6	1.5	-1.2	-0.3	-0.6	-2.4	-0.6
Corporate Income Tax Paid	-0.3	-4.6	0.0	0.0	-0.7	-2.8	-0.0	0.0	-1.5	-0.5	0.0	-0.5
Other Operating Receipts	—	—	—	—	—	-0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-0.1	1.7	-2.3	1.4	-1.9	-0.1	-0.3	0.5	-0.8	-0.7	0.0	0.0
Net Cash Flow from Operating Activities	15.0	-157.1	301.4	-106.3	-83.0	-14.6	57.9	-105.2	-58.4	44.9	94.0	-78.7
Payments for Fixed Assets and Other Long-term Assets	-0.7	-1.9	-0.1	-4.0	-1.2	-3.9	-0.4	0.0	0.0	-3.1	-1.6	0.0
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	-0.0	0.0	0.0	0.1	0.2	0.0	0.0	0.0	0.0	0.0	-0.1
Loans and Purchases of Debt Instruments	—	—	—	—	—	0.0	0.0	0.0	0.0	-105.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	—	—	—	—	0.0	0.0	56.0	0.0	49.0	0.0	0.0
Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	0.0	0.4	0.0	0.0	0.0	0.0	0.0	0.2	0.7	0.3	0.6	0.0
Increase/(Decrease) in Term Deposits	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-0.7	-1.6	-0.1	-4.0	-1.1	-3.7	-0.4	56.2	0.7	-58.8	-1.0	-0.1
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	113.0	892.0	-717.2	213.7	107.0	65.4	150.1	249.0	0.0	56.2	63.2	187.6
Repayment of Borrowings	-126.4	-762.7	450.4	-105.4	-22.1	-55.7	-197.7	-208.1	58.1	-85.9	-105.2	-111.4
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	8.4	-8.4	0.0	0.0	0.0
Dividends Paid	—	0.0	-0.0	—	—	-0.0	-0.0	-0.0	0.0	-0.0	0.0	-0.0
Other Financing Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	-13.4	129.2	-266.8	108.3	84.9	9.7	-47.7	49.3	49.7	-29.7	-42.1	76.1
Net Cash Flow During the Period	0.9	-29.5	34.5	-2.0	0.8	-8.6	9.8	0.4	-8.0	-43.7	51.0	-2.6
Cash and Cash Equivalents at Beginning of Period	7.6	37.1	2.6	4.6	3.8	10.2	10.2	10.2	10.2	13.5	13.5	13.5
FX Difference from Revaluation	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	8.6	7.6	37.1	2.6	4.6	3.8	12.3	2.5	2.2	10.2	53.9	2.9

Explore Other Stocks In The Same Sector

CLC, NST

Need support? If you need support with content lookup or want to provide feedback about content on the website, please contact us below.

HJC

What Is Changing

Drivers of HJC's profit

Financial Highlights

Is the profit sustainable?

What is driving the margin? ▼

Is capital being used efficiently?

Is capital being deployed efficiently? ▼

Balance Sheet ▲

Working Capital Efficiency ▲

Is financial risk significant?

Leverage & Liquidity ●

Cash Flow ▲▲

Investment Takeaway

Statement Data

What is driving the margin?

Is capital being deployed efficiently?

Balance Sheet

Working Capital Efficiency

Leverage & Liquidity

Cash Flow