Ho Chi Minh City Infrastructure Investment JSC (CII) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Ho Chi Minh City Infrastructure Investment JSC stock VND 2,527, price VND 13,750, that is 81.6% below the price, quality 19 out of 100. Rating: strongly overvalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 9,846 VND – 53,030 VND · fair‑value band 2,472 VND – 4,119 VND · the 13,750 VND price screens above the 2,527 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Ho Chi Minh City Infrastructure Investment Joint Stock Company engages in the infrastructure development business in Vietnam.
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It operates under build-operate-transfer (BOT) contracts; build-transfer (BT) contracts; collects road traffic toll fees; real estate business; and water distribution networks.
The company is also involved in production and sale of specialized equipment related to traffic toll collection and construction; installing and maintaining traffic toll station; construction of civil, industrial, traffic and road works, and drain pipes; planting trees; landscape care and maintenance services; and undertakes bridge and residential infrastructure projects, as well as real estate projects; and provision of clean water.
The company was incorporated in 2001 and is headquartered in Ho Chi Minh City, Vietnam.
Stock analysis
Ho Chi Minh City Infrastructure Investment JSC (CII) currently trades at 13,750 VND, while our model-based Fair Value estimate is 2,527 VND, 82% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 7,404 VND per share, and 0 of the 8 models we run sit above the 13,750 VND price.
Bear case: the Earnings-Based group reads lowest at 1,946 VND, and 8 of the 8 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2,472 VND (bear) to 4,119 VND (bull), the price of 13,750 VND sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 19/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Ho Chi Minh City Infrastructure Investment JSC reported revenue of 3.0T VND in FY2025 versus 2.9T VND in FY2021, a compound +0.9%/yr. Reported net income was 124B VND in FY2025.
Key figures
Market cap 8.6T VND (≈ $336M) Small · P/E ratio 80.5 · P/S ratio 2.95 · EPS (TTM) 170.77 VND · Dividend yield 6.4% · Net margin 3.5% · Return on equity 2.3% · Return on assets (EBIT) 2.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 49% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at −82%, CII screens richer than that median.
Fair Value models
Bear2,472 VNDFair Value 2,527 VNDBull4,119 VND
Price 13,750 VND · Downside -81.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (146.44 VND per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income6,914 VND7,404 VND8,069 VND76
Owner Earningsn/an/a915.67 VND72
Gordon GGM1,930 VND2,158 VND2,394 VND69
All 10 models by family
DCF Models
Owner Earningsn/an/a915.67 VND72
Earnings-Based
Graham-Dodd1,255 VND1,946 VND2,328 VND67
Dividend Discount
Gordon GGM1,930 VND2,158 VND2,394 VND69
DDM Multi-Stage1,930 VND2,296 VND2,676 VND67
Multiples
P/E Multiple2,908 VND3,877 VND4,846 VND63
P/S Multiple2,230 VND2,973 VND3,717 VND57
EV/EBITn/an/a1,157 VND60
EV/EBITDAn/a2,723 VND6,036 VND62
Economic Profit
Residual Income6,914 VND7,404 VND8,069 VND76
Growth Earnings
Growth-Adj P/E2,053 VND2,933 VND3,813 VND67
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−2.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−19.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.2%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.5%
’19
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’21
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What shareholders gained per year (last 5 years), in VND ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in VND: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−20.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−26.5%
Dividend (yield on the price)6.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 37%
Compare Ho Chi Minh City Infrastructure Investment JSC with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 791 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score19 · Bottom 25%
Fair Value upside−81.7% · Bottom 25%
Profitability
Return on equity (12 months)2.3% · Below median
Return on assets1.0% · Below median
Net margin (12 months)10.5% · Top 25%
Operating margin (12 months)45.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)2.9% · Below median
Dividend yield (12 months)6.4% · Top 25%
Balance sheet
Debt / equity1.99× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)80.5× · Priciest 25%
P/B0.97× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)8.20× · Priciest 25%
EV/EBITDA35.7× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 34
FUTURE (revenue growth)15· sector 20
PAST (return on equity)9· sector 28
HEALTH (low debt)1· sector 94
DIVIDEND (yield)100· sector 44
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Ho Chi Minh City Infrastructure Investment JSC Fair Value". https://www.fairvalue-calculator.com/stock/CII
Frequently asked questions
Is Ho Chi Minh City Infrastructure Investment JSC (CII) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 2,527 VND versus a price of 13,750 VND, about 82% lower (overvalued).
What is the fair value of CII?
Our model-based fair value for Ho Chi Minh City Infrastructure Investment JSC is 2,527 VND (as of Nov 7, 2026), built from audited fundamentals. The current price: 13,750 VND.
What is the quality score of CII?
Ho Chi Minh City Infrastructure Investment JSC has a Quality Score of 19/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ho Chi Minh City Infrastructure Investment JSC (CII)?
Our model-based price target is the fair value of 2,527 VND (as of Nov 7, 2026) from 10 valuation models. Cautious scenario 2,472 VND, optimistic scenario 4,119 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Ho Chi Minh City Infrastructure Investment JSC stock forecast for 2026?
Our models put fair value at 2,527 VND, about 82% lower versus a price of 13,750 VND (overvalued). Cautious scenario 2,472 VND, optimistic scenario 4,119 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Ho Chi Minh City Infrastructure Investment JSC (CII)?
Ho Chi Minh City Infrastructure Investment JSC reported trailing-twelve-month revenue of about 3.1T VND (latest available figure, as of Nov 7, 2026).
Does Ho Chi Minh City Infrastructure Investment JSC pay a dividend?
Ho Chi Minh City Infrastructure Investment JSC currently shows a dividend yield of 6.44% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Ho Chi Minh City Infrastructure Investment JSC (CII)?
Ho Chi Minh City Infrastructure Investment JSC has a dividend yield of 6.4%.
What is the intrinsic value of Ho Chi Minh City Infrastructure Investment JSC (CII)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ho Chi Minh City Infrastructure Investment JSC it is 2,527 VND per share (as of Nov 7, 2026), against a price of 13,750 VND. It is the blended result of 10 valuation models in 6 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Economic Profit, Growth Earnings).
Is Ho Chi Minh City Infrastructure Investment JSC stock overvalued or undervalued in 2026?
As of Nov 7, 2026, CII trades above its calculated fair value: price 13,750 VND, fair value 2,527 VND, a gap of about −82% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CII?
No. The price is what the market pays today (13,750 VND); the fair value is what the company's own numbers justify (2,527 VND). For Ho Chi Minh City Infrastructure Investment JSC the two are 11,223 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Ho Chi Minh City Infrastructure Investment JSC worth?
The market values Ho Chi Minh City Infrastructure Investment JSC at about 8.6T VND (market capitalisation, as of Nov 7, 2026). Per share that is 13,750 VND; our models calculate a fair value of 2,527 VND per share.
What do the bullish and bearish scenarios say about CII?
Our models span a range for Ho Chi Minh City Infrastructure Investment JSC: cautious scenario 2,472 VND, base 2,527 VND, optimistic 4,119 VND per share (as of Nov 7, 2026, price 13,750 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CII?
Ho Chi Minh City Infrastructure Investment JSC trades at a price-to-earnings ratio of 80.5 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2,527 VND is built from several models across several years. Other multiples: P/B 1.0, P/S 8.2, EV/EBITDA 35.7.
How solid is the balance sheet of Ho Chi Minh City Infrastructure Investment JSC (CII)?
Balance-sheet figures for Ho Chi Minh City Infrastructure Investment JSC (as of Nov 7, 2026): return on equity 2.3%, debt of 1.99 per unit of equity. They feed the Quality Score of 19/100, which measures business quality independently of the share price.
How far is CII from its 52-week high?
Ho Chi Minh City Infrastructure Investment JSC trades at 13,750 VND, about 49% below its 52-week high of 27,200 VND and 18% above the low of 11,700 VND (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 2,527 VND is for.
Which stocks are comparable to Ho Chi Minh City Infrastructure Investment JSC?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ho Chi Minh City Infrastructure Investment JSC stock attractive at the current price?
The data as of Nov 7, 2026: price 13,750 VND, calculated fair value 2,527 VND (−82%), Quality Score 19/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CII calculated?
We run Ho Chi Minh City Infrastructure Investment JSC through 10 models from 6 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 2,527 VND builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Ho Chi Minh City Infrastructure Investment JSC itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ho Chi Minh City Infrastructure Investment JSC (CII)?
The closing price on Nov 9, 2026 was 13,750 VND. Our model-based fair value is 2,527 VND, about 82% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ho Chi Minh City Infrastructure Investment JSC right now?
The price sits above even our optimistic bull case (4,119 VND). The favourable scenario is already priced in. Weak quality (19/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Ho Chi Minh City Infrastructure Investment JSC
How large is the market capitalisation of Ho Chi Minh City Infrastructure Investment JSC (CII)?
The market capitalisation of Ho Chi Minh City Infrastructure Investment JSC is 8.6T VND (≈ $336M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ho Chi Minh City Infrastructure Investment JSC (CII)?
The price-to-sales ratio of Ho Chi Minh City Infrastructure Investment JSC is 2.95 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ho Chi Minh City Infrastructure Investment JSC (CII)?
Earnings per share at Ho Chi Minh City Infrastructure Investment JSC are 170.77 VND (price ÷ EPS = P/E 80.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ho Chi Minh City Infrastructure Investment JSC (CII)?
The dividend yield of Ho Chi Minh City Infrastructure Investment JSC is 6.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Ho Chi Minh City Infrastructure Investment JSC (CII)?
The net margin of Ho Chi Minh City Infrastructure Investment JSC is 3.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ho Chi Minh City Infrastructure Investment JSC (CII)?
The return on equity (ROE) of Ho Chi Minh City Infrastructure Investment JSC is 2.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ho Chi Minh City Infrastructure Investment JSC (CII)?
On an EBIT basis the return on assets of Ho Chi Minh City Infrastructure Investment JSC is 2.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ho Chi Minh City Infrastructure Investment JSC (CII)?
The operating margin of Ho Chi Minh City Infrastructure Investment JSC is 45.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ho Chi Minh City Infrastructure Investment JSC (CII)?
Revenue at Ho Chi Minh City Infrastructure Investment JSC is growing +2.9% versus a year earlier (3y avg −19.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ho Chi Minh City Infrastructure Investment JSC (CII)?
Earnings per share at Ho Chi Minh City Infrastructure Investment JSC are growing −67.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ho Chi Minh City Infrastructure Investment JSC (CII) generate?
The free cash flow of Ho Chi Minh City Infrastructure Investment JSC is −690B VND (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ho Chi Minh City Infrastructure Investment JSC (CII) carry?
The net debt of Ho Chi Minh City Infrastructure Investment JSC is 21.0T VND (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 7, 2026