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STOCK COMPARISON

Haesung Industrial Co. vs Vingroup JSC: Fair Value & Quality

Both stocks run through our valuation models. Here is how Haesung Industrial Co. (034810) and Vingroup JSC (VIC) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees Haesung Industrial Co. as the less overvalued of the two: Haesung Industrial Co. trades at KRW 5,950 versus a fair value of KRW 4,642 (-22%), while Vingroup JSC trades at VND 230,000 versus VND 25,731 (-89%).
Haesung Industrial Co.
034810.KQ · KRW · Real Estate
-22%
upside to fair value
overvalued
PriceKRW 5,950
Fair ValueKRW 4,642
Quality43/100
Vingroup JSC
VIC.VN · VND · Consumer Discretionary
-89%
upside to fair value
overvalued
PriceVND 230,000
Fair ValueVND 25,731
Quality30/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Haesung Industrial Co.Vingroup JSC
Valuation
n/aP/E (TTM)163.7×
n/aP/S (TTM)4.90×
n/aP/B11.60×
14.1×EV/EBITDA46.8×
−22.0%Fair value upside−88.8%
4.2%Dividend yield0.2%
KRW 250Dividend per sharen/a
Profitability
3%Operating margin14%
0.03×EBIT margin trend (5Y)n/a
3%Return on equity9%
2%Return on assets1%
Growth
10%Revenue growth (YoY)25%
-3.7%Avg. growth/yr (3Y)48.3%
36.4%Avg. growth/yr (5Y)24.6%
n/aValue creation/yr−3.1%
Balance & size
1.4×Interest coverage (EBIT/interest)0.1×
0.36×Debt / equity1.51×
$130MMarket cap$66B
weakGrowth qualityexpensive
Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

Haesung Industrial Co. leads: 6 to 3 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Haesung Industrial Co.of which business quality 41 · market factors 30 Vingroup JSCof which business quality 31 · market factors 67
ProfitabilityMargins and returns on capital today
23
21
Quality GrowthAre margins and returns improving?
39
67
CashflowEarnings quality: real cash, not paper profit
14
46
Fin. StrengthBalance sheet, leverage, solvency risk
49
7
InvestmentDisciplined investing over empire-building
90
16
Low VolatilityCalm price path (market factor)
55
21
MomentumPrice trend over the last 3–12 months (market factor)
26
83
52W MomentumDistance to the 52-week high (market factor)
10
93
Net IssuanceShare count: buybacks or dilution?
55
36

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyHaesung Industrial Co.Price KRW 5,950Vingroup JSCPrice VND 230,000
Earnings-Basedn/a-82%below the priceVND 41,154
Dividend Discountn/a-97%below the priceVND 6,047
Multiples+362%above the priceKRW 27,481-87%below the priceVND 29,515
Asset-Based+172%above the priceKRW 16,179-94%below the priceVND 13,280
Economic Profitn/a-92%below the priceVND 17,368
Growth Earningsn/a-77%below the priceVND 52,663
Minimum+172%above the priceKRW 16,179-97%below the priceVND 6,047
Maximum+362%above the priceKRW 27,481-77%below the priceVND 52,663
Median+267%above the priceKRW 21,830-90%below the priceVND 23,442
Geometric mean+254%above the priceKRW 21,086-91%below the priceVND 21,139

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Haesung Industrial Co.: 0 of 4 models see the stock below the current price.

Vingroup JSC: 12 of 12 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Haesung Industrial Co.
Price KRW 5,950
Fair Value KRW 4,642
Bear KRW 3,064Bull KRW 4,642
Vingroup JSC
Price VND 230,000
Fair Value VND 25,731
Bear VND 19,298Bull VND 35,287

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Haesung Industrial Co. · Real Estate

Quality score43 · below median
Fair value upside-22% · below median

Vingroup JSC · Consumer Discretionary

Quality score30 · bottom 25%
Fair value upside-89% · bottom 25%

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees Haesung Industrial Co. as the less overvalued of the two: Haesung Industrial Co. trades at KRW 5,950 versus a fair value of KRW 4,642 (-22%), while Vingroup JSC trades at VND 230,000 versus VND 25,731 (-89%).

Haesung Industrial Co. has the higher quality score (43/100).

Open Haesung Industrial Co. live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.