Cotec Construction JSC (CTD) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of Cotec Construction JSC stock VND 119,774, price VND 76,000, upside +57.6%, quality 35 out of 100. Rating: strongly undervalued. Calculated from audited financials with 25 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 12, 2026.
How to read this chart
60‑month range 16,691 VND – 92,780 VND · fair‑value band 81,511 VND – 149,718 VND · the 76,000 VND price screens below the 119,774 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 12, 2026.
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Coteccons Construction Joint Stock Company operates as a construction company. It engages in the construction of various homes, railway and road works, public works, and other civil engineering works; and demolition activities.
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The company is also involved in the preparation of sites; installation of electricity systems, water supply and drainage systems, heating systems, and air conditioners; and fitting of construction works, as well as in other specialized construction activities.
In addition, it manufactures concrete, as well as products from cement and gypsum.
Further, the company is involved in the repair, installation, rental, and sale of machinery, equipment, and components; trading of construction materials and other installation equipment in construction; and provision of real estate brokerage and business services, as well as commission services.
Additionally, it provides architecture and relevant technical advisory services; and engages in support activities for financial advisory, as well as in specialised design activities.
In addition, the company is involved in software production and computer programming activities; and construction and asset holding operations, as well as in the amusement parks and theme parks activities.
Coteccons Construction Joint Stock Company was incorporated in 2004 and is headquartered in Ho Chi Minh City, Vietnam.
Stock analysis
Cotec Construction JSC (CTD) currently trades at 76,000 VND, while our model-based Fair Value estimate is 119,774 VND, implying the stock looks roughly 37% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 253,547 VND per share, and 18 of the 25 models we run sit above the 76,000 VND price.
Bear case: the Economic Profit group reads lowest at 60,360 VND, and 7 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 81,511 VND (bear) to 149,718 VND (bull), the price of 76,000 VND sits below 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 35/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cotec Construction JSC reported revenue of 34.3T VND in FY2025 versus 9.1T VND in FY2021, a compound +39.5%/yr. Reported net income was 788B VND in FY2025, compounding +139.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 8.1T VND (≈ $315M) Small · P/E ratio 10.9 · P/S ratio 0.24 · EPS (TTM) 7,004 VND · Dividend yield 1.2% · Net margin 2.3% · Return on equity 8.5% · Return on assets (EBIT) 0.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 58%, CTD screens cheaper than that median.
Fair Value models
Bear81,511 VNDFair Value 119,774 VNDBull149,718 VND
Price 76,000 VND · Upside +57.6%
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 (5,295 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.
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.76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+38.1%
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.
+33.2%
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.
+18.7%
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.
+6.4%
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’25
What shareholders gained per year (last 5 years), in VND (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+63.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+62.3%
Dividend (yield on the price)1.2%
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.2% → 2%
2025 sits 163% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+35.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Vietnam: IMF forecast 4.1% a year to 2030, 3.1% from 2016 to 2025) that is about +30.4% a year for the price and +5.5% for the forecasts.
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 · 822 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score35 · Bottom 25%
Fair Value upside+57.6% · Top 25%
Profitability
Return on equity (12 months)8.5% · Above median
Return on assets2.0% · Below median
Net margin (12 months)2.3% · Below median
Operating margin (12 months)1.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)27.1% · Top 25%
Dividend yield (12 months)1.2% · Below median
Balance sheet
Debt / equity0.16× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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). "Cotec Construction JSC Fair Value". https://www.fairvalue-calculator.com/stock/CTD.VN
Frequently asked questions
Is Cotec Construction JSC (CTD) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of 119,774 VND versus a price of 76,000 VND, about +58% upside (undervalued).
What is the fair value of CTD?
Our model-based fair value for Cotec Construction JSC is 119,774 VND (as of Nov 12, 2026), built from audited fundamentals. The current price: 76,000 VND.
What is the quality score of CTD?
Cotec Construction JSC has a Quality Score of 35/100. 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 Cotec Construction JSC (CTD)?
Our model-based price target is the fair value of 119,774 VND (as of Nov 12, 2026) from 25 valuation models. Cautious scenario 81,511 VND, optimistic scenario 149,718 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Cotec Construction JSC stock forecast for 2026?
Our models put fair value at 119,774 VND, about +58% upside versus a price of 76,000 VND (undervalued). Cautious scenario 81,511 VND, optimistic scenario 149,718 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Cotec Construction JSC (CTD)?
Cotec Construction JSC reported trailing-twelve-month revenue of about 34.3T VND (latest available figure, as of Nov 12, 2026).
Does Cotec Construction JSC pay a dividend?
Cotec Construction JSC currently shows a dividend yield of 1.19% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of Cotec Construction JSC (CTD) and when is the ex-dividend date?
Cotec Construction JSC pays a dividend of 907.03 VND per share a year, a dividend yield of 1.2%. The last ex-dividend date was Dec 1, 2025. The payout ratio is 13.0% of earnings. Free cash flow covers the dividend 2.83 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Cotec Construction JSC (CTD)?
For today's price to be fair in a discounted-cash-flow model, Cotec Construction JSC would have to grow free cash flow by +35.7 % per year for five years (discount rate 15.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.7 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of CTD use?
Our models discount Cotec Construction JSC at 15.4 %: a base by market capitalisation (micro), damped by beta 0.75, country premium for Vietnam. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cotec Construction JSC that is +35.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (15.4 %) and the same formula as our fair value.
How much growth has Cotec Construction JSC (CTD) delivered so far?
Over the past 5 years revenue at Cotec Construction JSC grew +18.7 % a year. The price currently implies free-cash-flow growth of +35.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cotec Construction JSC (CTD) growing?
The median revenue growth in the sector is +7.9 % a year. That is the yardstick for the growth priced into Cotec Construction JSC (+35.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cotec Construction JSC (CTD)?
The free-cash-flow yield on the price is 3.54 %: that much free cash flow Cotec Construction JSC produces per unit of market value. When it exceeds the discount rate of our models (15.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cotec Construction JSC (CTD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cotec Construction JSC it is 119,774 VND per share (as of Nov 12, 2026), against a price of 76,000 VND. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Cotec Construction JSC stock overvalued or undervalued in 2026?
As of Nov 12, 2026, CTD trades below its calculated fair value: price 76,000 VND, fair value 119,774 VND, a gap of about +58% (undervalued). 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 CTD?
No. The price is what the market pays today (76,000 VND); the fair value is what the company's own numbers justify (119,774 VND). For Cotec Construction JSC the two are 43,774 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Cotec Construction JSC worth?
The market values Cotec Construction JSC at about 8.1T VND (market capitalisation, as of Nov 12, 2026). Per share that is 76,000 VND; our models calculate a fair value of 119,774 VND per share.
What do the bullish and bearish scenarios say about CTD?
Our models span a range for Cotec Construction JSC: cautious scenario 81,511 VND, base 119,774 VND, optimistic 149,718 VND per share (as of Nov 12, 2026, price 76,000 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CTD?
Cotec Construction JSC trades at a price-to-earnings ratio of 10.9 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 119,774 VND is built from several models across several years. Other multiples: PEG 0.2, P/B 0.8, P/S 0.2, EV/EBITDA 6.5.
What is the PEG ratio of CTD?
The PEG ratio of Cotec Construction JSC is 0.24 (P/E divided by earnings growth, as of Nov 12, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Cotec Construction JSC (CTD)?
Balance-sheet figures for Cotec Construction JSC (as of Nov 12, 2026): return on equity 8.5%, debt of 0.16 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is CTD from its 52-week high?
Cotec Construction JSC trades at 76,000 VND, about 13% below its 52-week high of 87,200 VND and 38% above the low of 55,100 VND (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of 119,774 VND is for.
Which stocks are comparable to Cotec Construction 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 Cotec Construction JSC stock attractive at the current price?
The data as of Nov 12, 2026: price 76,000 VND, calculated fair value 119,774 VND (+58%), Quality Score 35/100, from 25 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 CTD calculated?
We run Cotec Construction JSC through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 119,774 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 14.0% above its aggregate fair value. Cotec Construction JSC currently trades 37% below its own fair value, and the market average says nothing about that. 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 Cotec Construction JSC (CTD)?
The closing price on Nov 13, 2026 was 76,000 VND. Our model-based fair value is 119,774 VND, about +58% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cotec Construction JSC right now?
The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (81,511 VND). The market is more pessimistic than our downside scenario. A fairly wide model range (81,511 VND to 149,718 VND) leaves room in how you read the outcome.
Key figures of Cotec Construction JSC
How large is the market capitalisation of Cotec Construction JSC (CTD)?
The market capitalisation of Cotec Construction JSC is 8.1T VND (≈ $315M). 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 Cotec Construction JSC (CTD)?
The price-to-sales ratio of Cotec Construction JSC is 0.24 (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 Cotec Construction JSC (CTD)?
Earnings per share at Cotec Construction JSC are 7,004 VND (price ÷ EPS = P/E 10.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cotec Construction JSC (CTD)?
The dividend yield of Cotec Construction JSC is 1.2% (payout 13.0%). 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 Cotec Construction JSC (CTD)?
The net margin of Cotec Construction JSC is 2.3% (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 Cotec Construction JSC (CTD)?
The return on equity (ROE) of Cotec Construction JSC is 8.5% (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 Cotec Construction JSC (CTD)?
On an EBIT basis the return on assets of Cotec Construction JSC is 0.3% (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 Cotec Construction JSC (CTD)?
The operating margin of Cotec Construction JSC is 1.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cotec Construction JSC (CTD)?
Revenue at Cotec Construction JSC is growing +27.1% versus a year earlier (3y avg +33.2%). 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 Cotec Construction JSC (CTD)?
Earnings per share at Cotec Construction JSC are growing −25.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cotec Construction JSC (CTD) carry?
The net debt of Cotec Construction JSC is 2.7T VND (fiscal year 2025, ≈ 9.5 yrs of FCF). 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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Broad data
Nov 12, 2026