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STOCK COMPARISON

DBS Group Holdings vs Vietnam Technological And Commercial Joint Stock Bank: Fair Value & Quality

Both stocks run through our valuation models. Here is how DBS Group Holdings (D05) and Vietnam Technological And Commercial Joint Stock Bank (TCB) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Vietnam Technological And Commercial Joint Stock Bank as the less overvalued of the two: DBS Group Holdings trades at S$77.69 versus a fair value of S$40.48 (-48%), while Vietnam Technological And Commercial Joint Stock Bank trades at VND 33,150 versus VND 24,776 (-25%).
DBS Group Holdings
D05.SG · SGD · Financials
-48%
upside to fair value
overvalued
PriceS$77.69
Fair ValueS$40.48
Quality65/100
Vietnam Technological And Commercial Joint Stock Bank
TCB.VN · VND · Financials
-25%
upside to fair value
overvalued
PriceVND 33,150
Fair ValueVND 24,776
Quality62/100
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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

DBS Group HoldingsVietnam Technological And Commercial Joint Stock Bank
Valuation
20.2×P/E (TTM)9.0×
7.73×P/S (TTM)4.59×
2.50×P/B1.38×
3.44×PEGn/a
−47.9%Fair value upside−25.3%
3.7%Dividend yield3.2%
S$2.85Dividend per sharen/a
Profitability
60%Operating margin71%
0.99×EBIT margin trend (5Y)n/a
16%Return on equity16%
1%Return on assets2%
Growth
3%Revenue growth (YoY)21%
11.6%Avg. growth/yr (3Y)9.0%
9.4%Avg. growth/yr (5Y)15.0%
+12.7%Value creation/yr+3.5%
Balance & size
0.6×Interest coverage (EBIT/interest)n/a
0.69×Debt / equityn/a
$172BMarket cap$9B
healthyGrowth qualityhealthy

Vietnam Technological And Commercial Joint Stock Bank leads: 3 to 7 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.

DBS Group Holdingsof which business quality 61 · market factors 93 Vietnam Technological And Commercial Joint Stock Bankof which business quality 62 · market factors 48
ProfitabilityMargins and returns on capital today
38
47
Quality GrowthAre margins and returns improving?
54
49
CashflowEarnings quality: real cash, not paper profit
84
93
Fin. StrengthBalance sheet, leverage, solvency risk
56
55
InvestmentDisciplined investing over empire-building
78
43
Low VolatilityCalm price path (market factor)
100
69
MomentumPrice trend over the last 3–12 months (market factor)
86
43
52W MomentumDistance to the 52-week high (market factor)
98
31
Net IssuanceShare count: buybacks or dilution?
65
79

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 familyDBS Group HoldingsPrice S$77.69Vietnam Technological And Commercial Joint Stock BankPrice VND 33,150
Dividend Discount-35%below the priceS$50.54-51%below the priceVND 16,309
Multiples-46%below the priceS$42.04+21%above the priceVND 39,995
Asset-Based-79%below the priceS$16.26-52%below the priceVND 16,078
Economic Profit-60%below the priceS$31.26-9%close to the priceVND 30,327
Minimum-79%below the priceS$16.26-52%below the priceVND 16,078
Maximum-35%below the priceS$50.54+21%above the priceVND 39,995
Median-53%below the priceS$36.65-30%below the priceVND 23,318
Geometric mean-59%below the priceS$32.24-28%below the priceVND 23,748

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%.

DBS Group Holdings: 6 of 6 models see the stock below the current price.

Vietnam Technological And Commercial Joint Stock Bank: 4 of 6 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.

DBS Group Holdings
Price S$77.69
Fair Value S$40.48
Bear S$29.38Bull S$50.60
Vietnam Technological And Commercial Joint Stock Bank
Price VND 33,150
Fair Value VND 24,776
Bear VND 21,294Bull VND 43,766

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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.

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside-48% · bottom 25%

Vietnam Technological And Commercial Joint Stock Bank · Financials

Quality score62 · above median
Fair value upside-25% · below median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Vietnam Technological And Commercial Joint Stock Bank as the less overvalued of the two: DBS Group Holdings trades at S$77.69 versus a fair value of S$40.48 (-48%), while Vietnam Technological And Commercial Joint Stock Bank trades at VND 33,150 versus VND 24,776 (-25%).

DBS Group Holdings has the higher quality score (65/100).

Open Vietnam Technological And Commercial Joint Stock Bank 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.