Vietnamese (HOSE) Energy Sector Analysis

Sector Valuation and Performance

Has the Vietnamese Energy Sector valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 02 Sep 2026	₫243.0t	₫727.0t	₫28.2t	8x	8.6x	0.3x
Fri, 31 Jul 2026	₫231.5t	₫640.6t	₫19.7t	9.1x	11.8x	0.4x
Sun, 28 Jun 2026	₫229.6t	₫636.2t	₫19.5t	9.4x	11.8x	0.4x
Tue, 26 May 2026	₫252.9t	₫636.3t	₫19.5t	9.6x	13x	0.4x
Thu, 23 Apr 2026	₫242.2t	₫585.4t	₫12.0t	11.2x	20.1x	0.4x
Sat, 21 Mar 2026	₫260.0t	₫584.8t	₫13.2t	10.5x	19.8x	0.4x
Mon, 16 Feb 2026	₫254.6t	₫584.7t	₫13.2t	11.1x	19.3x	0.4x
Wed, 14 Jan 2026	₫224.5t	₫566.0t	₫8.7t	12.3x	25.8x	0.4x
Fri, 12 Dec 2025	₫167.2t	₫559.7t	₫8.5t	11.6x	19.6x	0.3x
Sun, 09 Nov 2025	₫175.3t	₫559.0t	₫8.5t	11.8x	20.6x	0.3x
Tue, 07 Oct 2025	₫178.0t	₫529.1t	₫5.3t	13.7x	33.7x	0.3x
Thu, 04 Sep 2025	₫183.8t	₫529.1t	₫5.3t	14.8x	34.8x	0.3x
Sat, 02 Aug 2025	₫161.2t	₫520.9t	₫4.8t	13.8x	33.3x	0.3x
Mon, 30 Jun 2025	₫151.1t	₫506.2t	₫5.6t	12.3x	27.2x	0.3x
Wed, 28 May 2025	₫144.0t	₫504.2t	₫5.4t	12.2x	26.8x	0.3x
Fri, 25 Apr 2025	₫134.7t	₫510.2t	₫6.4t	12.6x	21x	0.3x
Sun, 23 Mar 2025	₫165.6t	₫515.6t	₫9.7t	13x	17.1x	0.3x
Tue, 18 Feb 2025	₫170.4t	₫512.4t	₫9.4t	12.3x	18x	0.3x
Thu, 16 Jan 2025	₫102.3t	₫367.0t	₫5.2t	11x	19.5x	0.3x
Sat, 14 Dec 2024	₫102.3t	₫366.6t	₫5.2t	10.3x	19.5x	0.3x
Mon, 11 Nov 2024	₫108.0t	₫366.6t	₫5.2t	10.7x	20.6x	0.3x
Wed, 09 Oct 2024	₫117.5t	₫371.4t	₫5.9t	11x	20x	0.3x
Fri, 06 Sep 2024	₫117.4t	₫371.4t	₫5.9t	11x	20x	0.3x
Sun, 04 Aug 2024	₫120.2t	₫362.5t	₫5.6t	11.2x	21.6x	0.3x
Tue, 02 Jul 2024	₫113.5t	₫358.6t	₫5.5t	11.4x	20.8x	0.3x
Thu, 30 May 2024	₫118.5t	₫364.8t	₫5.6t	9.5x	21x	0.3x
Sat, 27 Apr 2024	₫104.8t	₫352.5t	₫5.1t	9.7x	20.7x	0.3x
Mon, 25 Mar 2024	₫109.2t	₫353.5t	₫6.0t	9.5x	18.2x	0.3x
Wed, 21 Feb 2024	₫103.4t	₫352.0t	₫6.1t	9.2x	16.8x	0.3x
Fri, 19 Jan 2024	₫100.6t	₫364.1t	₫5.7t	14.7x	17.8x	0.3x
Sun, 17 Dec 2023	₫99.7t	₫363.9t	₫5.7t	14.7x	17.6x	0.3x
Tue, 14 Nov 2023	₫98.4t	₫363.9t	₫5.7t	14.7x	17.3x	0.3x
Thu, 12 Oct 2023	₫106.0t	₫349.6t	₫5.1t	14.7x	20.9x	0.3x
Sat, 09 Sep 2023	₫105.9t	₫349.5t	₫5.1t	14.6x	20.7x	0.3x

Current Industry PE

Investors are pessimistic on the Vietnamese Energy industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 8.6x which is lower than its 3-year average PE of 20.8x.

The industry is trading close to its 3-year average PS ratio of 0.33x.

Past Earnings Growth

The earnings for companies in the Energy industry have grown 77% per year over the last three years.
Revenues for these companies have grown 28% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Vietnamese Energy sector?


VN Market	0.59%
Energy	-1.08%
Energy Services	-0.96%
Oil and Gas	-1.11%

Industry PE

Investors are most optimistic about the Energy Services industry even though it's trading below its 3-year average PE ratio of 20.4x.

Analysts are expecting annual earnings growth of 9.7%, which is lower than the prior year's growth of 282.5% per year.

Investors are most pessimistic about the Oil and Gas industry, which is trading below its 3-year average of 21.5x.

Forecasted Growth

Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 9.7% over the next 5 years.

In contrast, the Oil and Gas industry is expected to see its earnings decline by 15% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
PGS Southern Gas Trading	₫63.00k	8.6% +₫250.0b	46.9%	PE25.2x
PVS PetroVietnam Technical Services	₫39.60k	0.3% +₫51.1b	20.7%	PE9.8x
PVP Pacific Petroleum Transportation	₫18.35k	1.7% +₫31.1b	21.1%	PE6.2x
PGC Petrolimex Gas Corporation JSC	₫14.10k	2.9% +₫24.1b	2.2%	PE7.6x
ASP An Pha Petroleum Group	₫13.80k	3.8% +₫18.7b	170.6%	PE4x

Company

Last Price

Valuation

PGS Southern Gas Trading

₫63.00k

8.6%
+₫250.0b

46.9%

PE25.2x

PVS PetroVietnam Technical Services

₫39.60k

0.3%
+₫51.1b

20.7%

PE9.8x

PVP Pacific Petroleum Transportation

₫18.35k

1.7%
+₫31.1b

21.1%

PE6.2x

PGC Petrolimex Gas Corporation JSC

₫14.10k

2.9%
+₫24.1b

2.2%

PE7.6x

ASP An Pha Petroleum Group

₫13.80k

3.8%
+₫18.7b

170.6%

PE4x

New minor risk - Dividend sustainability

The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 7.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings have declined by 14% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Market cap is less than US$100m (₫273.8b market cap, or US$10.4m).

Vietnamese (HOSE) Energy Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Now 26% overvalued after recent price rise

Second quarter 2026 earnings released: EPS: ₫336 (vs ₫410 in 2Q 2025)

New major risk - Financial position

New minor risk - Dividend sustainability

Investor sentiment improves as stock rises 16%

New major risk - Financial position

Second quarter 2026 earnings released: EPS: ₫116 (vs ₫219 in 2Q 2025)

New major risk - Earnings quality

Second quarter 2026 earnings released: EPS: ₫1,490 (vs ₫169 in 2Q 2025)

Second quarter 2026 earnings released: EPS: ₫2,329 (vs ₫879 in 2Q 2025)

Second quarter 2026 earnings released: EPS: ₫1,070 (vs ₫569 in 2Q 2025)

Second quarter 2026 earnings released: EPS: ₫834 (vs ₫411 in 2Q 2025)

New major risk - Financial position

Second quarter 2026 earnings released: EPS: ₫1,294 (vs ₫435 in 2Q 2025)

First quarter 2026 earnings released

Deo Nai - Coc Sau - TKV Coal Joint Stock Company, Annual General Meeting, Apr 21, 2026