GTM Holdings vs Vingroup JSC: Fair Value & Quality
Both stocks run through our valuation models. Here is how GTM Holdings (1437) and Vingroup JSC (VIC) compare, as of Aug 10, 2026.
As of Aug 10, 2026, Fair Value Calculator sees GTM Holdings as the less overvalued of the two: GTM Holdings trades at TWD 30.30 versus a fair value of TWD 19.29 (-36%), while Vingroup JSC trades at VND 208,500 versus VND 25,731 (-88%).
GTM Holdings
1437.TW · TWD · Information Technology
-36%
upside to fair value
overvalued
PriceTWD 30.30
Fair ValueTWD 19.29
Quality59/100
Vingroup JSC
VIC.VN · VND · Consumer Discretionary
-88%
upside to fair value
overvalued
PriceVND 208,500
Fair ValueVND 25,731
Quality30/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
GTM HoldingsVingroup JSC
Valuation
12.8×P/E (TTM)158.7×
6.79×P/S (TTM)4.75×
0.75×P/B11.25×
15.0×EV/EBITDA45.5×
3.3%Dividend yield—
TWD 0.96Dividend per share—
Profitability
61%Net margin3%
47%Operating margin14%
7%Return on equity9%
2%Return on assets1%
Growth
-9%Revenue growth (YoY)25%
4.9%Avg. growth/yr (3Y)48.3%
8.9%Avg. growth/yr (5Y)24.6%
Balance & size
0.41×Debt / equity1.51×
$192MMarket cap$64B
mixedGrowth qualityexpensive
GTM Holdings leads: 7 to 5 metric wins.
Dash = 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.
GTM Holdingsof which business quality 55 · market factors 53Vingroup JSCof which business quality 31 · market factors 66
ProfitabilityMargins and returns on capital today
35
21
Quality GrowthAre margins and returns improving?
29
67
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
83
16
Low VolatilityCalm price path (market factor)
99
22
MomentumPrice trend over the last 3–12 months (market factor)
37
80
52W MomentumDistance to the 52-week high (market factor)
29
91
Net IssuanceBuybacks instead of dilution
84
36
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
GTM Holdings
DCF ModelsTWD 15.10
Earnings-BasedTWD 14.40
Dividend DiscountTWD 14.70
MultiplesTWD 24.19
Asset-BasedTWD 27.50
Economic ProfitTWD 18.18
Growth EarningsTWD 36.87
14 of 18 models see the stock below the current price.
Vingroup JSC
Earnings-BasedVND 41,154
Dividend DiscountVND 6,565
MultiplesVND 29,515
Asset-BasedVND 13,280
Economic ProfitVND 17,766
Growth EarningsVND 52,663
12 of 12 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
GTM Holdings
Bear TWD 9.77Fair Value TWD 19.29Bull TWD 28.81
TWD 30.30 = current price (white tick)
Vingroup JSC
Bear VND 19,298Fair Value VND 25,731Bull VND 32,164
VND 208,500 = current price (white tick)
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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.
GTM Holdings · Information Technology
Quality score59 · above median
Fair value upside-36% · above median
Vingroup JSC · Consumer Discretionary
Quality score30 · bottom 25%
Fair value upside-88% · bottom 25%
Bottom line
As of Aug 10, 2026, Fair Value Calculator sees GTM Holdings as the less overvalued of the two: GTM Holdings trades at TWD 30.30 versus a fair value of TWD 19.29 (-36%), while Vingroup JSC trades at VND 208,500 versus VND 25,731 (-88%).
GTM Holdings has the higher quality score (59/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
