HJS

Thủy điện Nậm Mu ·HNX ·2026Q1

▲ Showing improvement

Operating efficiency is improving Net margin 33.52%, +2.85pp YoY

Price

27,600

Latest close

03 Jun 2026

P/E 13.52x

P/B 1.79x

EPS 2,042

BVPS 15,441

ROE 13.2%

ROA 12.1%

Profit Margin 33.4%

Asset Turnover 0.36x

Equity Mult. 1.08x

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

What Is Changing

On a TTM 2026Q1 basis, HJS has not accelerated revenue, but profitability is improving more visibly — profit is at an all-time high. The positive sign is better operations, though this signal only becomes convincing if accompanied by a revenue recovery.

	                            
	                                TTM REVENUE
	                            
	                                    VND 128bn
	                                
+0.5%YoY

	                            
	                                TTM NET PROFIT
	                            
	                                    VND 43bn
	                                
+9.9%YoY

Metric	2025	2024	2023	2022	2021
Revenue	122.0	149.0	158.6	177.3	165.8
Growth	-18%	-6%	-11%	+7%	—
Net Income	39.6	47.2	53.9	57.3	51.1
Net Margin	32.44%	31.67%	34.00%	32.31%	30.83%

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	25.4	33.6	36.6	32.7	19.1	25.0	36.9	46.5	40.5	42.3	43.8	43.8
Growth	-24%	-8%	+12%	+71%	-24%	-32%	-21%	+15%	-4%	-3%	+0%	—
Net Income	8.7	9.1	12.6	12.5	5.3	7.3	8.4	18.1	13.4	13.0	15.4	17.6
Net Margin	34.29%	27.19%	34.54%	38.30%	27.66%	29.19%	22.78%	38.96%	33.04%	30.76%	35.20%	40.08%

Drivers of HJS's profit

TTM

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

Gross profit ↑ 4.1bn

Financial income ↑ 1.7bn

Tax ↑ 1.2bn

Administrative expenses ↑ 0.9bn

TTM

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

Gross profit ↑ 4.5bn

Tax ↑ 0.9bn

Financial Highlights

Detailed analysis of each financial dimension

ROE = Profit Margin × Asset Turnover × Equity Multiplier

2025Q1 11.8% = 30.7% × 0.35 × 1.09

2026Q1 13.2% = 33.5% × 0.36 × 1.08

ROE rose from 11.8% to 13.2% — mainly driven by net margin, despite leverage moving in the opposite direction.

Net margin: 33.5% +2.9pp Asset turnover: 0.36x +0.01x Leverage: 1.08x -0.00x

Is the profit sustainable?

Margins are improving and earnings quality is solid — a durable foundation for ROE.

very positive positive stable watch under pressure

What is driving the margin?

Net margin expanded to 33.52%, rising 2.9pp. Core operating signals are improving as Gross margin rose 3.0pp are enough to offset pressure from SG&A / Revenue rose 0.7pp (with additional support from Net financial result / Revenue rose 1.2pp and Other profit / Revenue rose 0.3pp).

Margin improves from both core operations and non-core items — the core foundation is positive, but the sustainability of non-core contributions needs monitoring.

Profitability trend

Net Margin 33.52% +2.9pp

Gross Margin 45.39% +3.0pp

SG&A / Revenue 8.17% +0.7pp

TTM YoY · 2025Q1 -> 2026Q1

Is capital being used efficiently?

Capital efficiency for utilities should be read alongside regulated tariffs and long-cycle depreciation — ROIC reflects a large fixed-asset base.

Is capital being deployed efficiently?

Track how much operating profit the business generates on invested capital.

For utilities, ROIC reflects returns on a large fixed-asset base — this is a reference signal and should be read alongside regulated tariffs.

CAPITAL EFFICIENCY TREND

ROIC — —

NOPAT Margin 33.44% +2.6pp

Capital Turnover — —

Average Invested Capital — —

Balance Sheet

ROIC for utilities reflects a large fixed-asset base and regulated tariffs — the balance sheet below adds perspective. Balance sheet is exceptionally sound — liabilities at 0.13x equity, with a net cash position equivalent to 0.04x equity.

Over the last 12 months, working capital absorbed 8.5bn of cash, mainly because of higher receivables and lower payables.

Working Capital Drivers

Receivables increased → lower CFO: −6.0bn

Inventories were broadly stable → neutral CFO: —

Payables decreased → lower CFO: −2.5bn

Working Capital Efficiency

Cash conversion cycle lengthened by 1.7 days versus the same period last year. The main moves came from DIO rose 3.0 days, DSO fell 3.3 days, and DPO fell 2.0 days.

Working capital cycle is flat — components are offsetting each other.

For utilities, working capital cycle reflects regulated pricing mechanics and long-term settlement contracts — DSO/DIO/DPO should be treated as contextual signals rather than pure efficiency indicators.

Watchpoints

Cash conversion cycle is lengthening

CCC is up by +1.7 days, indicating weaker working-capital turnover versus the prior year.

Inventory turnover is slowing

DIO increased by +3.0 days, suggesting more capital is being tied up in inventories.

Working Capital Efficiency

Receivables 28.0 days −3.3 days

Inventory 63.9 days +3.0 days

Payables 25.6 days −2.0 days

Cash Conversion Cycle 66.3 days +1.7 days

Is financial risk significant?

Financial risk is low — the company has net cash and CFO reached 51.1bn.

Leverage & Liquidity

Track net leverage, interest coverage, and the liquidity buffer on the balance sheet.

Debt maturity and the cash buffer remain the two key areas to monitor.

Leverage for utilities reflects long-term capital needs for fixed assets and recovery through regulated pricing — elevated leverage is structural to the industry.

Leverage and liquidity trend

Net Debt / Equity -0.04x —

Interest Coverage — —

Cash / Debt — —

Short-term Debt / Total Debt — —

CFO / NI 1.06x −0.52x

TTM YoY · 2025Q1 -> 2026Q1

Cash Flow

With safe leverage noted above, cash flow below shows the self-funding capacity. Operating cash flow reached 51.1bn in 2025, against investing cash flow of 1.7bn.

Post-investment cash flow was positive +52.9bn. Financing cash flow was negative +42.0bn.

CFO / net income was 1.06x.

After spending +1.1bn on fixed-asset investment, the business generated trailing free cash flow of +44.2bn.

For utilities, high capex and long investment cycles are structural — short-term FCF volatility does not reflect long-term cash generation through regulated pricing.

Cash Conversion

CFO TTM 45.3bn −16.2bn

Cash Capex 1.1bn —

FCF TTM +44.2bn —

Investment Takeaway

The business is showing brightening signals, but the improvement is still early and not yet thick enough to read as a confirmed trend. The brighter spot is operating efficiency, with net margin improving 2.9 pp. The next item to monitor is capital efficiency.

Improvement: operating efficiency is getting better, with trailing-12M net margin at 33.52% after expanding 2.9pp versus the same period last year.

Watchpoint: Capital efficiency needs cycle context.

Statement Data

Item	2025	2024	2023	2022	2021
Revenue	122.0	149.0	158.6	177.3	165.8
Revenue Deductions	—	0.0	0.0	0.0	0.0
Net Revenue	122.0	149.0	158.6	177.3	165.8
Cost of Goods Sold	68.2	83.8	84.7	98.6	0.0
Gross Profit	53.7	65.2	73.9	78.7	73.0
Financial Income	6.3	4.1	4.0	2.4	1.6
Financial Expenses	0.2	0.0	0.1	0.0	-1.0
Interest Expense	0.1	0.0	0.0	0.0	-1.0
Share of Associates and Joint Ventures	—	0.0	0.0	0.0	-0.0
Selling Expenses	—	0.0	0.0	0.0	-0.0
General and Administrative Expenses	10.2	9.9	9.9	9.3	-8.6
Operating Profit	49.7	59.3	68.0	71.8	65.0
Other Income	0.4	0.0	0.0	0.0	0.0
Other Expenses	0.3	0.2	0.3	0.3	0.0
Other Profit	0.1	-0.2	-0.3	-0.2	-0.7
Profit Before Tax	49.8	59.1	67.6	71.6	64.3
Current Income Tax Expense	10.2	11.9	13.7	14.3	-13.1
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	39.6	47.2	53.9	57.3	51.1
Non-controlling Interest	0.1	0.0	0.2	0.1	0.0
Profit Attributable to Parent	39.5	47.1	53.7	57.2	51.1
Earnings per Share	1,881.00	2,245.00	2,559.00	2,723.00	6,903.00
Diluted EPS	1,881.00	2,245.00	2,559.00	2,723.00	2,433.98

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	172.5	155.8	143.7	108.2	69.8
I. Cash and cash equivalents	24.6	13.6	82.5	47.1	9.4
1. Cash	24.6	11.6	18.5	10.1	0.0
2. Cash equivalents	—	2.0	64.0	37.0	0.0
II. Short-term financial investments	119.2	115.5	31.1	30.0	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	119.2	115.5	31.1	30.0	0.0
III. Short-term receivables	16.0	12.6	17.4	17.7	18.3
1. Short-term trade accounts receivable	13.1	10.2	16.7	16.9	0.0
2. Short-term prepayments to suppliers	0.7	0.4	0.1	0.2	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	2.2	2.0	0.6	0.6	0.0
7. Provision for short-term doubtful debts (*)	—	-0.0	-0.0	-0.0	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	12.3	12.3	12.3	12.3	12.3
1. Inventories	12.3	12.3	12.3	12.3	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	0.5	1.7	0.4	1.1	0.3
1. Short-term prepayments	0.0	1.3	0.1	0.8	0.0
2. Value added tax to be reclaimed	0.5	0.4	0.4	0.3	0.0
3. Taxes and other receivables from state authorities	—	0.0	0.0	0.0	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)	185.0	208.1	220.1	245.1	276.7
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	176.9	199.4	216.6	238.9	275.6
1. Tangible fixed assets	176.9	199.4	216.6	238.9	275.6
- Cost	723.2	724.1	718.8	707.4	0.0
- Accumulated depreciation	-546.4	-524.7	-502.2	-468.6	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	—	0.0	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
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	1.3	6.6	0.3	0.4	0.1
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	1.3	6.6	0.3	0.4	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	6.9	2.1	3.2	5.8	0.0
1. Long-term prepayments	6.9	2.1	3.2	5.8	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	1.0
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)	357.5	363.9	363.8	353.3	346.4
A. LIABILITIES (300=210+330)	42.0	41.9	38.6	27.0	27.2
I. Short -term liabilities	42.0	41.9	38.6	27.0	27.2
1. Short-term trade accounts payable	10.2	11.5	12.1	5.0	9.1
2. Short-term advances from customers	—	0.0	0.0	0.0	0.0
3. Taxes and other payables to state authorities	10.7	13.7	13.1	12.2	0.0
4. Payable to employees	7.1	6.9	6.5	4.9	0.0
5. Short-term acrrued expenses	9.1	5.2	2.1	0.4	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	0.1	0.0
9. Other short-term payables	2.6	2.4	2.6	2.5	0.0
10. Short-term borrowings and financial leases	—	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	—	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	2.5	2.2	2.3	1.9	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)	315.5	322.0	325.2	326.3	319.3
I. Owner's equity	315.5	322.0	325.2	326.3	0.0
1. Owner's capital	210.0	210.0	210.0	210.0	319.3
- Common stock with voting right	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	-0.5	-0.5	-0.5	-0.5	-0.5
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	44.3	44.3	44.3	44.3	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	—	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	51.0	57.5	60.8	62.0	55.1
- Accumulated retained earning at the end of the previous period	11.5	10.3	7.1	4.8	4.0
- Undistributed earnings in this period	39.5	47.1	53.7	57.2	51.1
12. Reserves for investment in construction	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	10.7	10.6	10.6	10.4	10.3
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)	357.5	363.9	363.8	353.3	346.4

Item	2025	2024	2023	2022	2021
Profit Before Tax	49.8	59.1	67.6	71.6	64.3
Depreciation of Fixed Assets and Investment Property	22.5	22.4	33.7	38.0	38.8
Provision (Increase)/Reversal	-0.0	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-6.5	-4.1	-4.0	-2.4	0.0
Interest Expense	0.1	0.0	0.0	0.0	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	66.0	77.5	97.2	107.3	103.3
Increase/(Decrease) in Receivables	-3.3	6.1	0.3	0.6	0.0
Increase/(Decrease) in Inventory	-0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	2.9	0.7	8.7	-1.7	0.0
Increase/(Decrease) in Prepaid Expenses	2.8	-0.2	3.4	-5.6	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-0.1	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-13.4	-11.8	-11.3	-13.1	0.0
Other Operating Receipts	—	0.0	0.0	0.0	0.0
Other Operating Payments	-3.7	-4.2	-4.1	-3.9	0.0
Net Cash Flow from Operating Activities	51.1	68.1	94.2	83.6	77.3
Payments for Fixed Assets and Other Long-term Assets	-0.9	-9.1	-11.3	-1.6	-0.1
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.1	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	-1.2	-84.4	-1.1	-55.5	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	0.4	0.0	0.0	55.0	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	3.4	2.6	4.0	2.4	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	1.7	-90.9	-8.4	0.2	0.7
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	13.1	0.0	0.0	0.0	23.1
Repayment of Borrowings	-13.1	0.0	0.0	0.0	-49.8
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-42.0	-46.1	-50.3	-46.2	-46.2
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	-42.0	-46.1	-50.3	-46.2	-72.9
Net Cash Flow During the Period	10.9	-68.9	35.5	37.7	4.4
Cash and Cash Equivalents at Beginning of Period	13.6	82.5	47.1	9.4	4.2
FX Difference from Revaluation	—	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	24.6	13.6	82.5	47.1	9.4

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	25.4	33.6	36.6	32.7	19.1	25.0	36.9	46.5	40.5	42.3	43.8	43.8
Revenue Deductions	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Revenue	25.4	33.6	36.6	32.7	19.1	25.0	36.9	46.5	40.5	42.3	43.8	43.8
Cost of Goods Sold	13.4	21.5	19.2	15.9	11.6	15.0	25.1	21.8	22.0	24.3	22.9	20.1
Gross Profit	12.0	12.1	17.4	16.7	7.5	10.1	11.8	24.7	18.6	18.0	20.9	23.7
Financial Income	1.6	1.8	1.6	1.5	1.5	1.6	0.9	0.7	0.8	0.9	1.1	1.1
Financial Expenses	—	—	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0
Interest Expense	—	—	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Share of Associates and Joint Ventures	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Selling Expenses	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
General and Administrative Expenses	2.7	2.4	2.8	2.6	2.4	2.5	2.3	2.5	2.6	2.6	2.5	2.7
Operating Profit	10.9	11.4	16.1	15.6	6.6	9.2	10.5	22.9	16.7	16.3	19.5	22.1
Other Income	—	—	0.1	0.3	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Expenses	0.0	0.0	0.3	0.0	0.0	0.1	0.0	0.1	0.0	0.0	0.3	0.1
Other Profit	-0.0	-0.0	-0.1	0.3	-0.0	-0.1	-0.0	-0.1	-0.0	0.0	-0.3	-0.1
Profit Before Tax	10.9	11.4	15.9	15.9	6.6	9.1	10.5	22.8	16.7	16.3	19.3	22.0
Current Income Tax Expense	2.2	2.3	3.3	3.4	1.3	1.8	2.1	4.7	3.3	3.3	3.9	4.5
Deferred Income Tax Expense	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	8.7	9.1	12.6	12.5	5.3	7.3	8.4	18.1	13.4	13.0	15.4	17.6
Non-controlling Interest	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-0.0	0.1	0.1
Profit Attributable to Parent	8.7	9.1	12.6	12.5	5.3	7.3	8.4	18.1	13.4	13.0	15.4	17.5
Earnings per Share	412.00	433.00	602.00	595.00	251.00	347.00	400.00	862.00	637.00	620.00	731.00	831.00
Diluted EPS	412.00	433.00	602.00	595.00	251.00	2,245.00	400.00	862.00	637.00	620.00	731.00	831.00

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)	169.8	172.5	176.9	168.9	155.9	154.7	169.1	163.3	148.1	143.7	136.8	120.3
I. Cash and cash equivalents	19.7	24.6	25.8	2.3	14.8	13.6	47.8	93.4	88.9	82.5	72.9	47.5
1. Cash	19.7	24.6	25.8	2.3	14.8	11.6	45.8	27.4	34.9	18.5	18.9	15.5
2. Cash equivalents	—	—	—	—	—	2.0	2.0	66.0	54.0	64.0	54.0	32.0
II. Short-term financial investments	119.2	119.2	117.5	115.9	115.5	115.5	90.5	30.5	30.8	31.1	30.1	30.8
1. Available for sale securities	—	—	—	—	—	0.0	0.0	0.0	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	0.0	0.0	0.0
3. Held to maturity investments	119.2	119.2	117.5	115.9	115.5	115.5	90.5	30.5	30.8	31.1	30.1	30.8
III. Short-term receivables	18.1	16.0	20.7	37.4	12.0	12.6	18.0	26.8	15.7	17.4	20.9	28.8
1. Short-term trade accounts receivable	12.0	13.1	17.7	32.6	7.7	10.2	16.8	25.7	14.2	16.7	19.2	27.5
2. Short-term prepayments to suppliers	0.8	0.7	0.5	0.4	0.6	0.4	0.2	0.5	0.4	0.1	0.4	0.6
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	5.3	2.2	2.5	4.3	3.7	2.0	1.1	0.5	1.1	0.6	1.3	0.7
7. Provision for short-term doubtful debts (*)	—	—	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
8. Assets awaiting resolution	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3
1. Inventories	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3	12.3
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	0.5	0.5	0.7	1.0	1.4	0.7	0.4	0.4	0.4	0.4	0.6	0.9
1. Short-term prepayments	0.0	0.0	0.3	0.6	1.0	0.3	0.0	0.0	0.0	0.1	0.3	0.6
2. Value added tax to be reclaimed	0.5	0.5	0.5	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.3	0.3
3. Taxes and other receivables from state authorities	—	—	—	—	—	0.0	0.0	0.0	0.0	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)	179.1	185.0	190.8	195.7	201.7	209.2	207.8	212.1	218.3	220.1	225.6	231.2
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	171.6	176.9	182.5	188.1	193.8	199.4	204.2	209.9	215.5	216.6	212.7	221.4
1. Tangible fixed assets	171.6	176.9	182.5	188.1	193.8	199.4	204.2	209.9	215.5	216.6	212.7	221.4
- Cost	723.5	—	—	—	—	724.1	723.3	723.3	723.3	718.8	707.4	707.4
- Accumulated depreciation	-551.9	—	—	—	—	-524.7	-519.1	-513.4	-507.8	-502.2	-494.7	-486.0
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	—	—	—	—	—	0.0	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
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	1.3	1.3	0.8	0.8	0.3	6.6	2.1	0.3	0.3	0.3	8.9	5.5
1. Long-term production in progress	—	—	—	—	—	0.0	0.0	0.0	0.0	0.3	0.0	0.0
2. Construction in progress	1.3	1.3	0.8	0.8	0.3	6.6	2.1	0.3	0.3	0.0	8.9	5.5
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	6.3	6.9	7.5	6.9	7.6	3.2	1.5	1.9	2.4	3.2	4.0	4.3
1. Long-term prepayments	6.3	6.9	7.5	6.9	7.6	3.2	1.5	1.9	2.4	3.2	4.0	4.3
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)	348.9	357.5	367.7	364.6	357.7	363.9	376.9	375.4	366.3	363.8	362.4	351.5
A. LIABILITIES (300=210+330)	24.6	42.0	61.3	70.9	30.4	41.9	62.2	69.1	27.7	38.6	50.2	54.6
I. Short -term liabilities	24.6	42.0	61.3	70.9	30.4	41.9	62.2	69.1	27.7	38.6	50.2	54.6
1. Short-term trade accounts payable	2.6	10.2	1.8	9.1	7.2	11.5	8.2	13.3	3.9	12.1	4.5	6.9
2. Short-term advances from customers	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
3. Taxes and other payables to state authorities	5.7	10.7	11.9	16.5	9.6	13.7	13.3	13.1	6.0	13.1	13.6	9.9
4. Payable to employees	4.8	7.1	7.0	6.4	6.4	6.9	6.6	5.4	4.6	6.5	5.6	4.6
5. Short-term acrrued expenses	9.0	9.1	12.5	6.3	5.1	5.2	12.9	5.8	10.4	2.1	6.7	1.2
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
9. Other short-term payables	1.7	2.6	24.2	23.1	1.6	2.4	18.7	27.6	1.9	2.6	15.8	27.4
10. Short-term borrowings and financial leases	—	—	—	5.3	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Provision for short-term liabilities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	0.9	2.5	3.8	4.1	0.4	2.2	2.5	3.8	0.9	2.3	4.0	4.6
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)	324.3	315.5	306.4	293.8	327.3	322.0	314.7	306.3	338.6	325.2	312.2	296.9
I. Owner's equity	324.3	315.5	306.4	293.8	327.3	322.0	314.7	306.3	338.6	325.2	312.2	296.9
1. Owner's capital	210.0	210.0	210.0	210.0	210.0	210.0	210.0	210.0	210.0	210.0	210.0	210.0
- Common stock with voting right	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00	209,999,000,000.00
- Preferred stock	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5	-0.5
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	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	44.3	44.3	44.3	44.3	44.3	44.3	44.3	44.3	44.3	44.3	44.3	44.3
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	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
11. Undistributed earnings after tax	59.6	51.0	41.9	29.2	62.8	57.5	50.2	41.8	74.2	60.8	47.8	32.5
- Accumulated retained earning at the end of the previous period	51.0	11.5	11.5	11.5	57.5	10.3	10.3	10.3	60.8	7.1	7.1	7.1
- Undistributed earnings in this period	8.7	39.5	30.4	17.8	5.3	47.1	39.8	31.5	13.4	53.7	40.7	25.5
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	10.8	10.7	10.7	10.6	10.6	10.6	10.6	10.6	10.6	10.6	10.6	10.5
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)	348.9	357.5	367.7	364.6	357.7	363.9	376.9	375.4	366.3	363.8	362.4	351.5

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	10.9	11.4	15.9	15.9	6.6	9.1	10.5	22.7	16.7	16.3	19.3	22.0
Depreciation of Fixed Assets and Investment Property	5.5	5.5	5.7	5.6	5.7	5.6	5.7	5.6	5.6	7.5	8.7	8.7
Provision (Increase)/Reversal	—	-0.0	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
FX Gain/Loss from Revaluation of Monetary Items	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Gain/Loss from Investment Activities	-1.6	-4.9	1.5	-1.5	-1.5	-0.7	0.5	-0.7	-0.8	-2.9	0.9	-1.1
Interest Expense	—	0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
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	0.0
Operating Profit Before Changes in Working Capital	14.8	12.0	23.1	20.1	10.8	14.1	16.7	27.6	21.5	20.8	28.9	29.7
Increase/(Decrease) in Receivables	-2.1	4.8	14.4	-23.2	0.6	5.4	8.8	-11.2	1.7	3.5	7.8	10.6
Increase/(Decrease) in Inventory	—	0.0	0.0	-0.0	—	0.0	0.0	0.0	-0.0	0.0	0.0	-0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-10.5	2.3	-2.5	8.2	-5.0	-6.8	2.7	9.2	-1.9	1.3	4.9	7.1
Increase/(Decrease) in Prepaid Expenses	0.6	0.8	-0.3	1.1	1.1	-1.9	0.4	0.6	0.8	1.0	0.6	0.8
Changes in Trading Securities	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	—	0.0	-0.0	-0.1	-0.0	-2.5	2.5	0.0	0.0	0.0	0.0	0.0
Corporate Income Tax Paid	-7.5	-1.5	-4.8	-1.1	-6.0	0.0	-0.2	-0.6	-11.0	-1.9	0.0	-2.9
Other Operating Receipts	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Operating Payments	-1.6	-1.2	-0.3	-0.3	-1.8	-0.2	-1.4	-1.3	-1.4	-1.7	-0.7	-0.6
Net Cash Flow from Operating Activities	-6.2	17.2	29.6	4.8	-0.4	8.1	29.4	24.4	9.7	23.1	41.5	44.6
Payments for Fixed Assets and Other Long-term Assets	-0.2	-0.5	-0.0	-0.4	—	-5.4	-1.7	0.0	-4.5	-2.8	-3.4	-4.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	—	0.1	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Loans and Purchases of Debt Instruments	—	0.8	-1.6	-0.4	—	-25.0	-59.4	-0.3	0.3	-1.0	3.7	-4.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.4	—	—	—	0.0	-0.6	0.6	0.0	0.0	-3.0	3.0
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	1.6	1.8	0.7	-0.7	1.5	0.7	-0.6	0.7	0.8	2.9	-0.9	1.0
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	1.4	2.6	-0.9	-1.5	1.5	-29.7	-62.3	1.0	-3.3	-0.9	-3.5	-4.9
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	—	0.0	0.0	13.1	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Borrowings	—	0.0	-5.3	-7.8	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Repayment of Finance Leases	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-0.0	-21.0	0.0	-21.0	—	-12.6	-12.6	-21.0	0.0	-12.6	-12.6	-25.2
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	-0.0	-21.0	-5.3	-15.7	—	-12.6	-12.6	-21.0	0.0	-12.6	-12.6	-25.2
Net Cash Flow During the Period	-4.8	-1.2	23.5	-12.5	1.1	-34.2	-45.5	4.4	6.4	9.7	25.4	14.5
Cash and Cash Equivalents at Beginning of Period	24.6	25.8	2.3	14.8	13.6	82.5	82.5	82.5	82.5	47.1	47.1	47.1
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	19.7	24.6	25.8	2.3	14.8	13.6	47.8	93.4	88.9	82.5	72.9	47.5

Explore Other Stocks In The Same Sector

REE, GEG, DNH, VSH, SBH, HNA, CHP, BGE, TMP, SHP, AVC, VPD, TBC, TTA, ND2, SBA, BHA, BSA, SJD, SEB, SBM, GSM, TTE, ISH, QPH, NTH, SP2, SVH, SD9, DRL, DL1, NED, TDB, XMP, SD3, HPD, PTC, KOS, HIO, SMA, S72, DTE

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

HJS

What Is Changing

Drivers of HJS'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