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Nam Kim Steel JSC (NKG) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Nam Kim Steel JSC stock VND 5,786, price VND 12,150, that is 52.4% below the price, quality 23 out of 100. Rating: strongly overvalued. Calculated from audited financials with 8 of our 26 valuation models and 37 quality factors, updated daily.

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Basic Materials VN · ISIN VN000000NKG3

NK Nam Kim Steel JSC logo Thin data Nov 7, 2026

Nam Kim Steel JSC

NKG · VN
Very expensive, weak quality

Our calculation puts a fair price 52% below what the stock costs today.

Low debt
Thin margins · 1.8% net margin (TTM)
Profit last quarter 66% below a year ago.
Fair value 5,786 VND · Strongly overvalued
Quality 23/100
Weak Growth (revenue 3y −13.7 %/yr in VND)
Negative free cash flow
Trails peers (4/12)
Narrow moat 30/100 · thin data
Thin data
⟳ Cyclical⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

31,615 VND 5,241 VND Fair Value 5,786 VND Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range 5,241 VND – 31,615 VND · fair‑value band 4,339 VND – 7,232 VND · the 12,150 VND price screens above the 5,786 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

Nam Kim Steel Joint Stock Company engages in the manufacture and sale of steel and other products in Vietnam and internationally. It offers steel sheets, including pre-painted aluminum- zinc alloy coated and galvanized steel sheet in coil, as well as steel pipes.

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The company also manufactures other metal products; produces steel tole, iron, steel, cast iron, steel and rolled steel, cold rolled steel, and black and galvanized steel tape; wholesales metal and metal ores; and trades in scraps.

In addition, it is involved in mechanical processing, handling and metal coating; provision of road transportation, logistics services, and cargo handling services; and leasing of transport vehicles and other transport-related support services.

The company was incorporated in 2002 and is headquartered in Thu Dau Mot, Vietnam.

Stock analysis

Nam Kim Steel JSC (NKG) currently trades at 12,150 VND, while our model-based Fair Value estimate is 5,786 VND, 52% 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 8,685 VND per share, and 1 of the 7 models we run sit above the 12,150 VND price.

Bear case: the Asset-Based group reads lowest at 1,685 VND, and 6 of the 7 models stay below the price. Data coverage for this calculation is low.

Scenario range: 4,339 VND (bear) to 7,232 VND (bull), the price of 12,150 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 23/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Nam Kim Steel JSC reported revenue of 14.8T VND in FY2025 versus 28.2T VND in FY2021, a compound −14.9%/yr. Reported net income was 197B VND in FY2025, compounding −45.4%/yr from FY2021.

Key figures

Market cap 6.0T VND (≈ $233M) Micro · P/E ratio 36.2 · P/S ratio 0.42 · EPS (TTM) 335.68 VND · Net margin 1.8% · Return on equity 3.4% · Return on assets (EBIT) 5.6% (5-year average) · Operating margin 5.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).

What moves the price

The share trades about 23% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at −52%, NKG screens richer than that median.

Fair Value models

Bear 4,339 VND Fair Value 5,786 VND Bull 7,232 VND
Price 12,150 VND · Downside -52.4%
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 (287.86 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 Income 8,282 VND 8,685 VND 9,232 VND 68
Graham-Dodd 2,723 VND 3,328 VND 3,744 VND 65
Growth-Adj P/E 3,637 VND 5,195 VND 6,754 VND 65
All 8 models by family
Earnings-Based
Graham-Dodd 2,723 VND 3,328 VND 3,744 VND 65
Multiples
P/E Multiple 5,105 VND 6,807 VND 8,508 VND 63
P/S Multiple 5,105 VND 6,807 VND 8,508 VND 58
P/B Multiple 33,411 VND 44,548 VND 55,685 VND 55
EV/EBITDA n/a n/a 2,799 VND 62
Asset-Based
NCAV (Graham) 1,112 VND 1,685 VND 2,106 VND 54
Economic Profit
Residual Income 8,282 VND 8,685 VND 9,232 VND 68
Growth Earnings
Growth-Adj P/E 3,637 VND 5,195 VND 6,754 VND 65

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 23/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 28
How much profit the company makes from its sales and capital
Quality Growth 19
Are margins and returns getting better?
Cashflow 35
Do the profits arrive as real cash?
Financial strength 36
Debt, balance sheet and risk of trouble
Investment 34
Does it invest with discipline instead of growing at any price?
Low Volatility 67
How calm the share price moves, does not count
Price momentum 32
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 31
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 25/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−28.1%
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.
−13.7%
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.
+5.1%
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.
+3.3%
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.
−21.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−21.0%
Dividend (yield on the price)0.0%
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.4% → 2%

NKG screens overvalued: fair value 52% below the price. Compare with Nucor Corporation →

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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.Steel · 410 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 23 · Bottom 25%
Fair Value upside −52.4% · Bottom 25%
Profitability
Return on equity (12 months) 3.4% · Below median
Return on assets 1.2% · Below median
Net margin (12 months) 1.8% · Below median
Operating margin (12 months) 5.9% · Above median
Growth and dividend
Revenue growth (quarter YoY) 9.0% · Above median
Balance sheet
Debt / equity 0.30× · Highest 25%

Valuation Multiplesvs Steel median · lower = cheaper

P/E (12 months) 36.2× · Priciest 25%
P/B 0.78× · Cheaper than median
P/S (12 months) 0.42× · Cheaper than median
EV/EBITDA 11.8× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 22
FUTURE (revenue growth)45 · sector 38
PAST (return on equity)14 · sector 19
HEALTH (low debt)85 · sector 95
DIVIDEND (yield)0 · sector 52

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 NKG
POSCO Holdings 005490 265,000 KRW 240,001 KRW −9% vs NKG
Tata Steel Limited TATASTEEL ₹186.30 ₹148.06 −21% vs NKG
JSW Steel Limited JSWSTEEL ₹1,357 ₹1,029 −24% vs NKG
ArcelorMittal S.A MT €54.82 €36.18 −34% vs NKG
Reliance, Inc RS $417.00 $211.54 −49% vs NKG
Nucor Corporation NUE $244.97 $116.49 −52% vs NKG
Jindal Steel Limited JINDALSTEL ₹1,165 ₹516.03 −56% vs NKG
Steel Dynamics, Inc STLD $222.90 $89.54 −60% vs NKG
Inner Mongolia Baotou Steel Union Co 600010 ¥1.99 ¥0.5400 −73% vs NKG

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Nam Kim Steel JSC: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Nam Kim Steel JSC Fair Value". https://www.fairvalue-calculator.com/stock/NKG

Frequently asked questions

Is Nam Kim Steel JSC (NKG) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 5,786 VND versus a price of 12,150 VND, about 52% lower (overvalued).
What is the fair value of NKG?
Our model-based fair value for Nam Kim Steel JSC is 5,786 VND (as of Nov 7, 2026), built from audited fundamentals. The current price: 12,150 VND.
What is the quality score of NKG?
Nam Kim Steel JSC has a Quality Score of 23/100. 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 Nam Kim Steel JSC (NKG)?
Our model-based price target is the fair value of 5,786 VND (as of Nov 7, 2026) from 8 valuation models. Cautious scenario 4,339 VND, optimistic scenario 7,232 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Nam Kim Steel JSC stock forecast for 2026?
Our models put fair value at 5,786 VND, about 52% lower versus a price of 12,150 VND (overvalued). Cautious scenario 4,339 VND, optimistic scenario 7,232 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Nam Kim Steel JSC (NKG)?
Nam Kim Steel JSC reported trailing-twelve-month revenue of about 14.3T VND (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Nam Kim Steel JSC (NKG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nam Kim Steel JSC it is 5,786 VND per share (as of Nov 7, 2026), against a price of 12,150 VND. It is the blended result of 8 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Nam Kim Steel JSC stock overvalued or undervalued in 2026?
As of Nov 7, 2026, NKG trades above its calculated fair value: price 12,150 VND, fair value 5,786 VND, a gap of about −52% (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 NKG?
No. The price is what the market pays today (12,150 VND); the fair value is what the company's own numbers justify (5,786 VND). For Nam Kim Steel JSC the two are 6,364 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Nam Kim Steel JSC worth?
The market values Nam Kim Steel JSC at about 6.0T VND (market capitalisation, as of Nov 7, 2026). Per share that is 12,150 VND; our models calculate a fair value of 5,786 VND per share.
What do the bullish and bearish scenarios say about NKG?
Our models span a range for Nam Kim Steel JSC: cautious scenario 4,339 VND, base 5,786 VND, optimistic 7,232 VND per share (as of Nov 7, 2026, price 12,150 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NKG?
Nam Kim Steel JSC trades at a price-to-earnings ratio of 36.2 (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 5,786 VND is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 29.6 (reported for FY2025: 27.6). Other multiples: P/B 0.8, P/S 0.4, EV/EBITDA 11.8.
How solid is the balance sheet of Nam Kim Steel JSC (NKG)?
Balance-sheet figures for Nam Kim Steel JSC (as of Nov 7, 2026): return on equity 3.4%, debt of 0.30 per unit of equity. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is NKG from its 52-week high?
Nam Kim Steel JSC trades at 12,150 VND, about 23% below its 52-week high of 15,682 VND and 33% above the low of 9,150 VND (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 5,786 VND is for.
Which stocks are comparable to Nam Kim Steel JSC?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Nam Kim Steel JSC stock attractive at the current price?
The data as of Nov 7, 2026: price 12,150 VND, calculated fair value 5,786 VND (−52%), Quality Score 23/100, from 8 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 NKG calculated?
We run Nam Kim Steel JSC through 8 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 5,786 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. Nam Kim Steel 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 Nam Kim Steel JSC (NKG)?
The closing price on Nov 6, 2026 was 12,150 VND. Our model-based fair value is 5,786 VND, about 52% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nam Kim Steel JSC right now?
The price sits above even our optimistic bull case (7,232 VND). The favourable scenario is already priced in. Weak quality (23/100) 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 Nam Kim Steel JSC

How large is the market capitalisation of Nam Kim Steel JSC (NKG)?
The market capitalisation of Nam Kim Steel JSC is 6.0T VND (≈ $233M). 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 Nam Kim Steel JSC (NKG)?
The price-to-sales ratio of Nam Kim Steel JSC is 0.42 (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 Nam Kim Steel JSC (NKG)?
Earnings per share at Nam Kim Steel JSC are 335.68 VND (price ÷ EPS = P/E 36.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Nam Kim Steel JSC (NKG)?
The net margin of Nam Kim Steel JSC is 1.8% (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 Nam Kim Steel JSC (NKG)?
The return on equity (ROE) of Nam Kim Steel JSC is 3.4% (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 Nam Kim Steel JSC (NKG)?
On an EBIT basis the return on assets of Nam Kim Steel JSC is 5.6% (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 Nam Kim Steel JSC (NKG)?
The operating margin of Nam Kim Steel JSC is 5.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nam Kim Steel JSC (NKG)?
Revenue at Nam Kim Steel JSC is growing +9.0% versus a year earlier (3y avg −13.7%). 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 Nam Kim Steel JSC (NKG)?
Earnings per share at Nam Kim Steel JSC are growing −65.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nam Kim Steel JSC (NKG) generate?
The free cash flow of Nam Kim Steel JSC is −2.1T 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 Nam Kim Steel JSC (NKG) carry?
The net debt of Nam Kim Steel JSC is 6.0T 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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