HSG.VN
Second WindHoa Sen Group · Basic Materials · Vietnam · $347M cap · $1.4M/day traded
VND 11,050 +0.0% · close 6 Nov · scored 7 Nov
Score up 1.2 since 6 Nov.
Second Wind: Cheap with strong momentum, but the business does not earn the optimism.
As of 7 Nov 2026, the MoatMap Score for Hoa Sen Group (HSG.VN) is 72/100, ranked against 25,000+ stocks in 38 markets (Quality 47, Value 57, Momentum 63, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT HOA SEN GROUP
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Hoa Sen Group, together with its subsidiaries, engages in the manufacturing and trading steel sheet in Vietnam and internationally.
FINANCIAL SUMMARY (VND)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2027E | 2028E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 49.7T | 31.7T | 39.3T | 36.5T | -9.8% | 37.6T | 38.6T | 42.3T | 5.0% |
| EPS (VND) | 302.31 | 36.15 | 616.92 | 874.62 | 42.5% | 794.43 | 968.81 | 1,478 | 19.1% |
| Shares | 800.8M | 800.8M | 800.8M | 807.3M | +0.8% | 807.3M | — | — | — |
| Debt | 4.2T | 2.9T | 5.4T | 4.4T | 1.7% | 7.3T | — | — | — |
| Equity | 10.9T | 10.8T | 10.9T | 11.3T | 1.4% | — | — | — | — |
| Op CF | 2.8T | 1.9T | -1.4T | 3.7T | 9.0% | 224.2B | — | — | — |
| Inv CF | -408.4B | -349.8B | -723.8B | -2.6T | — | — | — | — | — |
| Fin CF | -2.7T | -1.3T | 2.1T | -1.2T | — | — | — | — | — |
14% above its 52-week low and back above a rising 50-day average since 29 Oct 2026.
Calmer than 77% of stocks we rank over the past year (volatility 28% a year).
How this is worked out
The MoatMap Score weighs the business, its price and its trend. The price check reads only the chart: the price side of the Momentum score, in words.
The rules: Still falling is a new 52-week low in the last two weeks, at least 25% below the high. Finding a floor is no new low since. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average and within 15% of the high.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Basic Materials, ranked by industry match, size, and score similarity. Cross-listings of HSG.VN are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| HSG.VN | Hoa Sen Group(you) | $347M | 72 |
| NKG.VN | Nam Kim Steel Joint Stock Company | $240M | 49 |
| HPG.VN | Hoa Phat Group Joint Stock Company | $7.1B | 92 |
| DGC.VN | Duc Giang Chemicals Group Joint Stock Company | $494M | 73 |
| DPM.VN | PetroVietnam Fertilizer and Chemicals Corporation | $520M | 81 |
| DCM.VN | Petrovietnam Camau Fertilizer Corporation | $668M | 90 |
| HT1.VN | VICEM Ha Tien Cement Joint Stock Company | $193M | 92 |
| CSV.VN | South Basic Chemicals Joint Stock Company | $99M | 84 |
| BFC.VN | Binh Dien Fertilizer Joint Stock Company | $128M | 92 |
| HHP.VN | HHP Global joint stock company | $65M | 64 |
Peer medians: ROE 14.0% · P/E 9.6x · Gross margin 17.2%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.