---
title: "DGW Q3/2026: Record Revenue Driven by AI Servers and Tech"
description: Digiworld reported Q3/2026 net revenue of 11.022 billion VND (+49% YoY) fueled by office equipment and server infrastructure amidst margin compression.
url: https://ginity.vn/en/blog/dgw-record-q3-2026-revenue-servers-office-equipment
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language: en
datePublished: 2026-10-30T00:00:00+07:00
dateModified: 2026-10-30T00:00:00+07:00
author:
  name: Gini
  url: https://ginity.vn/en/authors/gini
reviewer: Ginity Editorial Desk
analyst:
  name: Đào Ngọc Bảo Linh
  role: Finance and securities specialist
  location: Ho Chi Minh City
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  id: equity
  name: Companies & sectors
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tickers:
  - DGW
sources: []
publisher: Ginity
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disclaimer: "Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources."
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---

# DGW Q3/2026: Record Revenue Driven by AI Servers and Tech

> Digiworld reported Q3/2026 net revenue of 11.022 billion VND (+49% YoY) fueled by office equipment and server infrastructure amidst margin compression.

Gini · Companies & sectors · 2026-10-30 · https://ginity.vn/en/blog/dgw-record-q3-2026-revenue-servers-office-equipment

_Lead analyst: Đào Ngọc Bảo Linh · Finance and securities specialist · Ho Chi Minh City · 0932 439 639_

## Key takeaways

- Q3/2026 net revenue reached 11.022 billion VND (+49% YoY), setting a quarterly milestone for Digiworld.
- Office equipment surged 89%, propelled by a 156% expansion in server systems for enterprise AI adoption.
- Cumulative 9M/2026 net profit attributable to parent shareholders reached nearly 786 billion VND (+102% YoY).
- Gross profit margin softened to 8.36% compared to 8.8% in Q3/2025 as gross profit growth lagged revenue expansion.

In Q3/2026, Digiworld (DGW) recorded consolidated net revenue of 11.022 billion VND, advancing 49% year-on-year compared to Q3/2025 according to [financial reporting on CafeF](https://cafef.vn/digiworld-lap-ky-luc-doanh-thu-nhung-dau-keo-thay-doi-may-chu-tang-156-giua-lan-song-dau-tu-ai-188261030110905215.chn). Net profit after tax attributable to parent company shareholders reached 276 billion VND, rising 66% compared to the third quarter of 2025. This performance marks the highest quarterly revenue in the company's operating history, driven by accelerating enterprise demand for computing servers and office equipment amidst the artificial intelligence (AI) infrastructure cycle.

## Q3/2026 Financial Results: Revenue Reaches New Peak

According to [earnings disclosures compiled on CafeF](https://cafef.vn/digiworld-lap-ky-luc-doanh-thu-nhung-dau-keo-thay-doi-may-chu-tang-156-giua-lan-song-dau-tu-ai-188261030110905215.chn), consolidated net revenue in Q3/2026 climbed to 11.022 billion VND, advancing 49% compared to the third quarter of 2025. This represents the highest quarterly turnover registered by the company. Net profit after tax attributable to parent company shareholders rose to 276 billion VND in Q3/2026, advancing 66% year-on-year compared to 2025.

According to the [Q3/2026 socio-economic performance release by the National Statistics Office (NSO)](https://www.nso.gov.vn/tin-tuc-thong-ke/2026/10/bao-cao-tinh-hinh-kinh-te-xa-hoi-quy-iii-va-9-thang-nam-2026/), gross domestic product (GDP) in Q3/2026 expanded by an estimated 9.95% year-on-year.

According to [earnings disclosures on CafeF](https://cafef.vn/digiworld-lap-ky-luc-doanh-thu-nhung-dau-keo-thay-doi-may-chu-tang-156-giua-lan-song-dau-tu-ai-188261030110905215.chn), for the first nine months of 2026, cumulative net revenue reached nearly 26.796 billion VND, rising 44% compared to the first nine months of 2025. Cumulative net profit attributable to parent shareholders totaled nearly 786 billion VND, up 102% year-on-year. With these figures, Digiworld completed approximately 85% of its annual sales target and surpassed its full-year 2026 profit guidance by almost 19%.

## Revenue Breakdown: AI Servers and Office Hardware

While all business divisions posted positive revenue growth during Q3/2026, performance contributions showed significant divergence. The primary driver of incremental expansion was no longer consumer mobile devices, but enterprise office equipment.

```chart
{
  "preset": "sector-columns",
  "label": "Digiworld revenue breakdown by segment in Q3/2026",
  "caption": "Segment revenue in Q3/2026. Source: CafeF.",
  "params": {
    "values": [4178, 2857, 2818, 567, 333, 269],
    "labels": ["Laptops & Tablets", "Office Equipment", "Mobile Phones", "Home Appliances", "Industrial Goods", "Consumer Goods"],
    "unit": "Q3/2026 revenue, billion VND",
    "highlight": 1
  }
}
```

Segment contributions during Q3/2026 are detailed in the comparative table below:

| Product Category | Q3/2026 Revenue (billion VND) | YoY Growth (%) | Incremental Value (billion VND) |
| :--- | :--- | :--- | :--- |
| Laptops and tablets | 4.178 | +32% | +1.013 |
| Office equipment | 2.857 | +89% | +1.345 |
| Mobile phones | 2.818 | +44% | +861 |
| Home appliances | 567 | +33% | - |
| Industrial equipment and materials | 333 | +149% | - |
| Consumer goods | 269 | +33% | - |
| **Total** | **11.022** | **+49%** | - |

Source: Compiled from Digiworld business performance disclosures on CafeF.

According to detailed analysis published on [Digiworld quarterly revenue analysis on CafeF](https://cafef.vn/digiworld-lap-ky-luc-doanh-thu-nhung-dau-keo-thay-doi-may-chu-tang-156-giua-lan-song-dau-tu-ai-188261030110905215.chn), office equipment generated 2.857 billion VND in Q3/2026, representing an 89% year-on-year surge compared to Q3/2025. The incremental gain of approximately 1.345 billion VND accounted for nearly 37% of Digiworld overall top-line increase. Computing servers formed the fastest-growing sub-segment, jumping 156% year-on-year. Consequently, office equipment expanded to comprise nearly 26% of consolidated Q3/2026 revenue, up from approximately 20% in Q3/2025.

According to the [Government Portal](https://baochinhphu.vn/tuan-le-so-quoc-te-viet-nam-2026-ai-phai-tao-ra-gia-tri-thuc-chat-cho-kinh-te-va-doi-song-102261028153120884.htm) on October 28, 2026, Vietnam requires digital infrastructure, computing capacity, and data.

According to [Digiworld financial disclosures on CafeF](https://cafef.vn/digiworld-lap-ky-luc-doanh-thu-nhung-dau-keo-thay-doi-may-chu-tang-156-giua-lan-song-dau-tu-ai-188261030110905215.chn), across other business units, laptops and tablets delivered 4.178 billion VND in Q3/2026 (advancing 32% year-on-year compared to 2025), adding approximately 1.013 billion VND during the back-to-school purchasing window. Mobile phones yielded 2.818 billion VND (rising 44% compared to 2025), with an incremental gain of approximately 861 billion VND supported by new product introductions. Industrial equipment rose 149% to 333 billion VND as distribution networks integrated Shell industrial lubricants alongside personal protective equipment.

## Gross Profit Margin Compression in Q3/2026

Despite top-line records, consolidated profitability varied across business lines. The calculation of gross profit margin follows standard corporate finance principles:

$$\text{Gross Margin} = \frac{\text{Gross Profit}}{\text{Net Revenue}} \times 100\%$$

According to operating metrics in [Digiworld financial reporting on CafeF](https://cafef.vn/digiworld-lap-ky-luc-doanh-thu-nhung-dau-keo-thay-doi-may-chu-tang-156-giua-lan-song-dau-tu-ai-188261030110905215.chn), Digiworld consolidated gross margin in Q3/2026 stood at 8.36%, lower than approximately 8.8% in Q3/2025 and compressing from near 13% recorded in Q2/2026. Gross profit totaled 922 billion VND against 11.022 billion VND in revenue during Q3/2026, advancing 42% year-on-year. Because gross profit growth trailed the 49% top-line expansion rate, the overall gross margin narrowed.

According to [financial data compiled on CafeF](https://cafef.vn/digiworld-lap-ky-luc-doanh-thu-nhung-dau-keo-thay-doi-may-chu-tang-156-giua-lan-song-dau-tu-ai-188261030110905215.chn), financial expenses during Q3/2026 rose 62% year-on-year to nearly 127 billion VND.

## Debt Structure and Working Capital as of 30/9/2026

According to data on [CafeF](https://cafef.vn/loi-nhuan-9-thang-dau-nam-tang-gap-doi-co-phieu-digiworld-giam-san-dieu-gi-dang-xay-ra-188261028160217262.chn), as of September 30, 2026, short-term borrowings increased by 967 billion VND. In the author's assessment, this increase reflects working capital demand during sales expansion. The debt-to-assets ratio is evaluated as:

$$\text{Debt-to-Assets Ratio} = \frac{\text{Short-Term Borrowings}}{\text{Total Assets}} \times 100\%$$

According to the balance sheet review published in [Digiworld balance sheet analysis on CafeF](https://cafef.vn/loi-nhuan-9-thang-dau-nam-tang-gap-doi-co-phieu-digiworld-giam-san-dieu-gi-dang-xay-ra-188261028160217262.chn), total assets on September 30, 2026 reached 11.881 billion VND, up 624 billion VND from the beginning of 2026. Total liabilities amounted to 8.496 billion VND, increasing 712 billion VND over the nine-month period.

According to [Digiworld balance sheet disclosures on CafeF](https://cafef.vn/loi-nhuan-9-thang-dau-nam-tang-gap-doi-co-phieu-digiworld-giam-san-dieu-gi-dang-xay-ra-188261028160217262.chn), short-term borrowings and financial leases as of September 30, 2026 stood at 3.866 billion VND, representing an increase of 967 billion VND (+33.4%) compared to 2.899 billion VND recorded on January 1, 2026.

According to the financial notes cited in [investment portfolio analysis on CafeF](https://cafef.vn/loi-nhuan-9-thang-dau-nam-tang-gap-doi-co-phieu-digiworld-giam-san-dieu-gi-dang-xay-ra-188261028160217262.chn), Digiworld maintained an equity investment as of September 30, 2026 in Kinh Bac City Development Holding Corp (KBC) with an original cost of nearly 200 billion VND. By the end of September 2026, fair market value was 166 billion VND, requiring a valuation impairment provision of nearly 34 billion VND.

## 2026 Targets

According to corporate financial targets reported on [VietnamFinance](https://vietnamfinance.vn/digiworld-rut-von-khoi-co-phieu-quoc-dan-chuyen-huong-sang-trai-phieu-d152849.html), for 2026, Digiworld established targets of 31.500 billion VND in net revenue and 660 billion VND in net profit after tax. Through the first nine months of 2026, the company accomplished approximately 85% of its sales plan and exceeded its full-year profit guidance by almost 19%.

## Sources

- National Statistics Office (NSO): [Socio-economic Situation Report for Q3 and 9M 2026](https://www.nso.gov.vn/tin-tuc-thong-ke/2026/10/bao-cao-tinh-hinh-kinh-te-xa-hoi-quy-iii-va-9-thang-nam-2026/) (03/10/2026)

- Government Portal: [Vietnam International Digital Week 2026: AI Must Create Practical Value for Economy and Life](https://baochinhphu.vn/tuan-le-so-quoc-te-viet-nam-2026-ai-phai-tao-ra-gia-tri-thuc-chat-cho-kinh-te-va-doi-song-102261028153120884.htm) (28/10/2026)

- CafeF: [Digiworld Sets Revenue Record: Servers Surge 156% Amid AI Wave](https://cafef.vn/digiworld-lap-ky-luc-doanh-thu-nhung-dau-keo-thay-doi-may-chu-tang-156-giua-lan-song-dau-tu-ai-188261030110905215.chn) (30/10/2026)

- CafeF: [Nine-month Profit Doubles, Digiworld Shares Fluctuate](https://cafef.vn/loi-nhuan-9-thang-dau-nam-tang-gap-doi-co-phieu-digiworld-giam-san-dieu-gi-dang-xay-ra-188261028160217262.chn) (28/10/2026)

- VietnamFinance: [Digiworld Rebalances Financial Assets and 9M 2026 Business Results](https://vietnamfinance.vn/digiworld-rut-von-khoi-co-phieu-quoc-dan-chuyen-huong-sang-trai-phieu-d152849.html) (29/10/2026)

---

_Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content._

_Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources._