Stock return is a measure to judge the overall returns of the firms. Financial managers and investors are keen on the stock return and they hope to maximine it that they are holding. However, stock return is sensitive with a lot of impact of factors. The authors limit and measures levels of stock returns’ impact based on two aspects: capital structure and financial performance of 175 firms in HOSE between 2010 and 2013.By using the approach of OLS (Ordinary Least Squares) to estimate these levels of impact, the authors used independent variables of capital structure (D/E) and financial performance, then dependent variables of stock returns. The results showed that there is an existence of the relationship between stock returns and financial performance as well as capital structure. Capital structure changes and financial performance have an influence on stock returns of the firms in HOSE. Capital structure (D/E) has a negative impact on stock returns. Financial performance (ROE, EPS) has a positive impact on stock returns while time interest earned (TIE) and cash flow ratios (CFR) are not any significant statistics.