THE IMPACT OF FINANCIAL LEVERAGE ON THE PROFITABILITY OF LISTED REAL ESTATE COMPANIES IN VIETNAM

Abstract

This article analyzes the relationship between financial leverage and profitability of listed real estate companies in Vietnam using the case study method. The authors selected three listed companies representing large, medium, and small market capitalizations, as well as different ownership structures on the stock market. The analytical data was collected from financial statements during the period 2020–2024. The results indicate that managers’ use of financial leverage affects profitability indicators such as ROA, ROE, and ROI. This impact varies depending on the company’s market capitalization and ownership structure. The article offers several recommendations to help managers use financial leverage more effectively and proposes solutions to enhance financial capacity in the digital era.