Hoa Phat Group JSC (HPG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hoa Phat Group JSC stock VND 23,576, price VND 21,200, upside +11.2%, quality 35 out of 100. Rating: undervalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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Hoa Phat Group JSC
HPG · VNThe stock costs 10% less than our calculation considers fair.
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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 8,184 VND – 29,542 VND · fair‑value band 17,682 VND – 29,470 VND · the 21,200 VND price screens below the 23,576 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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Company profile
Hoa Phat Group Joint Stock Company produces and sells steel products in Vietnam.
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It engages in financial investments; integrated investment in construction; exploration and exploitation of minerals, metal ores, sand, stones, and gravel; production of cast iron, steel, structural metal products, tanks, reservoirs, containers, plated and non-plated steel pipes, inox pipes, rolled steel, roofing sheets, galvanized steel sheets, color coated steel sheets, and galvalum steel sheets; production and trading of non-ferrous metals and metal scraps; trading and import-export of steel, iron, metals, metal ores, and steel-making supplies; mechanical processing, metal treatment, and coating; production, trading, and assembly of construction and mining machinery; leasing machines, equipment, and motor vehicles; dealing in automobiles, motorcycles, transport vehicles, and parts for transport and mining sectors; production, trading, assembly, installation, repair, and maintenance of electrical, electronic, optical, medical, household, and civil electrical appliances; manufacturing and trading of air-conditioners, refrigeration products, freezers, and refrigerators; production and trading of plastic products; civil and industrial construction; and construction of railway works. it is also involved in domestic and foreign investment advisory; advertising; general support services; raising livestock; provision of livestock raising services; processing and preserving of meat and meat products; production of animal feeds for cattle, poultry, and aquaculture; production of fertilizers and nitrogen compounds; trading agricultural equipment, machinery, and accessories; restaurants and mobile food service activities; provision of catering services; beverage serving services; coastal, inland waterway, and ocean transportation; and entrusted export-import activities.
Hoa Phat Group Joint Stock Company was founded in 1992 and is headquartered in Hung Yen, Vietnam.
Stock analysis
Hoa Phat Group JSC (HPG) currently trades at 21,200 VND, while our model-based Fair Value estimate is 23,576 VND, implying the stock looks roughly 10% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 30,354 VND per share, and 7 of the 16 models we run sit above the 21,200 VND price.
Bear case: the Asset-Based group reads lowest at 10,232 VND, and 9 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: 17,682 VND (bear) to 29,470 VND (bull), the price of 21,200 VND sits inside 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 Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hoa Phat Group JSC reported revenue of 156T VND in FY2025 versus 150T VND in FY2021, a compound +1.1%/yr. Reported net income was 15.5T VND in FY2025, compounding −18.2%/yr from FY2021.
Key figures
Market cap 179T VND (≈ $7.0B) Mid · P/E ratio 6.7 · P/S ratio 0.83 · EPS (TTM) 3,176 VND · Dividend yield 2.1% · Net margin 12.7% · Return on equity 20.0% · Return on assets (EBIT) 9.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at 11%, HPG screens cheaper than that median.
Fair Value models
All 16 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
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Compare Hoa Phat Group JSC with another stock
Price, fair value, quality and upside side by side.
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.Steel · 410 stocks
Valuation Multiplesvs Steel median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- EV/EBITDA by industry
- Dividend yield by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Basic Materials
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Baoshan Iron & Steel Co 600019 | ¥6.11 | ¥8.07 | +32% | vs HPG |
| POSCO Holdings PKX | $48.90 | $44.09 | −10% | vs HPG |
| Tata Steel Limited TATASTEEL | ₹186.30 | ₹148.06 | −21% | vs HPG |
| JSW Steel Limited JSWSTEEL | ₹1,357 | ₹1,029 | −24% | vs HPG |
| ArcelorMittal S.A MT | €54.82 | €36.10 | −34% | vs HPG |
| Reliance, Inc RS | $417.00 | $211.54 | −49% | vs HPG |
| Nucor Corporation NUE | $244.97 | $116.49 | −52% | vs HPG |
| Jindal Steel Limited JINDALSTEL | ₹1,165 | ₹516.03 | −56% | vs HPG |
| Steel Dynamics, Inc STLD | $222.90 | $89.54 | −60% | vs HPG |
| Inner Mongolia Baotou Steel Union Co 600010 | ¥1.99 | ¥0.5400 | −73% | vs HPG |
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Frequently asked questions
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Key figures of Hoa Phat Group JSC
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