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A reliable forward price-to-sales (P/S) ratio for Song Hong Construction Joint Stock Company (HNX: ICG) cannot be calculated from the available figures because they do not include a usable forecast of the company’s sales. The reported 25.81 figure is trailing P/S, not forward P/S. To calculate a forward multiple, divide market capitalization by forecast sales for a specified future period.

Is there a published forward P/S ratio for HNX: ICG?

No forward P/S estimate is established by the available market-data reference. StockAnalysis reported trailing P/S of 25.81 and trailing-twelve-month revenue of VND 7.08 billion on October 9, 2026, while listing forward P/E and EV/Sales as unavailable. It did not provide a forward P/S estimate or analyst sales estimates. Source: StockAnalysis statistics.

The ratio requires a forecast sales figure for a defined period. Without one, presenting a trailing multiple as forward P/S—or deriving a forecast from a single historical year—would not answer the question reliably.

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What do the available figures say?

Trailing market-data snapshot

StockAnalysis’s October 9, 2026 snapshot gives ICG a trailing P/S of 25.81 and trailing-twelve-month revenue of VND 7.08 billion. These are historical-period data, not a forecast. The same page reports market capitalization of VND 182.75 billion. Source: StockAnalysis statistics.

Reported annual revenue

The financial table reports revenue of VND 6.669 billion for FY2025 and VND 13.209 billion for FY2024. It also lists VND 1.037 billion for FY2023 and VND 11.135 billion for FY2022. The company’s fiscal year runs January through December; the table’s figures are in millions of VND and its financial data are attributed to S&P Global Market Intelligence. Source: StockAnalysis financials.

The differences between these annual figures show why a historical value alone is not a sound substitute for a sales forecast. A forward multiple depends on the forecast period and the estimate used.

How to calculate forward P/S when a sales forecast is available

Use this formula:

Forward P/S = market capitalization ÷ forecast revenue

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For example, if a sourced estimate later provides forecast revenue, divide market capitalization measured on a specified date by that estimate for the matching future period. The result is only meaningful when the numerator and denominator use compatible dates, currencies, and company reporting bases.

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  • Identify whether forecast revenue is for the next fiscal year, a calendar year, or another stated period.
  • Record who published the estimate, when it was published, and whether it represents analyst consensus or company guidance.
  • Use market capitalization from a clearly stated date and keep the currency consistent with the forecast.
  • Check whether revenue and market capitalization correspond to consolidated or parent-company figures; do not mix bases without explanation.
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Where to check for updated company information

The Hanoi Stock Exchange issuer page identifies the listed company as ICG and provides its announcements and dated market records. It records a closing price of VND 10,400 for October 8, 2026, which is a historical exchange observation rather than a current quote. The page also lists the company’s consolidated and parent-company semiannual 2026 statements, announced August 28, 2026. These filings can update reported financial context, but the cited page does not establish future revenue guidance. Source: Hanoi Stock Exchange issuer page.

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