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STOCK COMPARISON

Hiyes International Co vs Vingroup JSC: Fair Value & Quality

Both stocks run through our valuation models. Here is how Hiyes International Co (2348) and Vingroup JSC (VIC) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees Hiyes International Co as the less overvalued of the two: Hiyes International Co trades at TWD 72.00 versus a fair value of TWD 46.23 (-36%), while Vingroup JSC trades at VND 230,000 versus VND 25,731 (-89%).
Hiyes International Co
2348.TW · TWD · Real Estate
-36%
upside to fair value
overvalued
PriceTWD 72.00
Fair ValueTWD 46.23
Quality20/100
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

Hiyes International CoVingroup JSC
Valuation
10.5×P/E (TTM)163.7×
1.76×P/S (TTM)4.90×
1.47×P/B11.60×
18.4×EV/EBITDA46.8×
−35.8%Fair value upside−88.8%
6.9%Dividend yield0.2%
TWD 5.00Dividend per sharen/a
Profitability
17%Operating margin14%
0.49×EBIT margin trend (5Y)n/a
8%Return on equity9%
2%Return on assets1%
Growth
-24%Revenue growth (YoY)25%
13.0%Avg. growth/yr (3Y)48.3%
14.4%Avg. growth/yr (5Y)24.6%
−1.0%Value creation/yr−3.1%
Balance & size
3.8×Interest coverage (EBIT/interest)0.1×
2.36×Debt / equity1.51×
$385MMarket cap$66B
expensiveGrowth 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.

Hiyes International 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.

Hiyes International Coof which business quality 20 · market factors 35 Vingroup JSCof which business quality 31 · market factors 67
ProfitabilityMargins and returns on capital today
31
21
Quality GrowthAre margins and returns improving?
19
67
CashflowEarnings quality: real cash, not paper profit
0
46
Fin. StrengthBalance sheet, leverage, solvency risk
27
7
InvestmentDisciplined investing over empire-building
45
16
Low VolatilityCalm price path (market factor)
50
21
MomentumPrice trend over the last 3–12 months (market factor)
40
83
52W MomentumDistance to the 52-week high (market factor)
9
93
Net IssuanceShare count: buybacks or dilution?
0
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 familyHiyes International CoPrice TWD 72.00Vingroup JSCPrice VND 230,000
Earnings-Basedn/a-82%below the priceVND 41,154
Dividend Discountn/a-97%below the priceVND 6,047
Multiples+57%above the priceTWD 113-87%below the priceVND 29,515
Asset-Based-49%below the priceTWD 36.83-94%below the priceVND 13,280
Economic Profit-21%below the priceTWD 56.69-92%below the priceVND 17,368
Growth Earningsn/a-77%below the priceVND 52,663
Minimum-49%below the priceTWD 36.83-97%below the priceVND 6,047
Maximum+57%above the priceTWD 113-77%below the priceVND 52,663
Median-21%below the priceTWD 56.69-90%below the priceVND 23,442
Geometric mean-14%close to the priceTWD 61.73-91%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%.

Hiyes International Co: 3 of 7 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.

Hiyes International Co
Price TWD 72.00
Fair Value TWD 46.23
Bear TWD 40.79Bull TWD 75.80
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.

Hiyes International Co · Real Estate

Quality score20 · bottom 25%
Fair value upside-36% · 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 Hiyes International Co as the less overvalued of the two: Hiyes International Co trades at TWD 72.00 versus a fair value of TWD 46.23 (-36%), while Vingroup JSC trades at VND 230,000 versus VND 25,731 (-89%).

Vingroup JSC has the higher quality score (30/100).

Open Hiyes International 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.