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Investment and Industrial Development Joint Stock Corp (BCM) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Investment and Industrial Development Joint Stock Corp VND 30,690, price VND 40,550, upside -24.3%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Real Estate · VN · ISIN VN000000BCM3

IA Some data Sep 24, 2026

Investment and Industrial Development Joint Stock Corp

BCM · VN

Weak valuationQuality is weak on top of the rich price.

!Fair value 30,690 VND · Overvalued (−24%)
!Quality 49/100
!Weak Growth (revenue 5y +1.3 %/yr)
✓Highly profitable · 55.1% net margin (TTM)
!Moderate debt · negative free cash flow
!Trails peers (4/13)
✓Wide moat 71/100
!Insider activity 40/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 1 out of 100
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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

92,871 VND 35,000 VND Fair Value 30,690 VND Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 35,000 VND – 92,871 VND · fair‑value band 17,801 VND – 43,580 VND · the 40,550 VND price screens above the 30,690 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Becamex Investment and Industrial Development Group engages in the investment and development of industrial, residential, urban, and transportation infrastructure projects in Vietnam.

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Becamex Investment and Industrial Development Group engages in the investment and development of industrial, residential, urban, and transportation infrastructure projects in Vietnam. It offers real estate trading and development, cadastral surveying and mapping, cargo and passenger transportation by road, inland waterway, rail, and multimodal transport, electricity transmission, distribution and construction of electrical works, architectural design and technical consultancy, construction of civil engineering works, residential buildings, railway infrastructure and waterway projects, and warehousing and logistics support services. It also provides cargo loading and unloading, mining and mineral processing, manufacturing and trading of consumer electronics, machinery, equipment, textiles and garments, construction materials and precast concrete components, medical and dental clinic operations, repair and maintenance of transport vehicles and railway equipment, and investment and development of industrial parks and urban infrastructure services. In addition, the company is involved in project management and construction supervision, PPP construction investment projects, customs clearance and forwarding services, marketing and investment consultancy, financial investment in domestic and international enterprises, hospital, and healthcare and education services. The company was formerly known as Investment and Industrial Development Corporation - JSC and changed its name to Becamex Investment and Industrial Development Group in October 2025. Becamex Investment and Industrial Development Group was founded in 1976 and is headquartered in Thu Dau Mot City, Vietnam.

Stock analysis

Investment and Industrial Development Joint Stock Corp (BCM) currently trades at 40,550 VND, while our model-based Fair Value estimate is 30,690 VND, implying the stock looks roughly 32.1% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 40,036 VND per share, and 2 of the 7 models we run sit above the 40,550 VND price.

Bear case: the Asset-Based group reads lowest at 14,704 VND, and 5 of the 7 models stay below the price. Evidence for this calculation is medium.

Scenario range: 17,801 VND (bear) to 43,580 VND (bull), the price of 40,550 VND sits inside 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 49/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Investment and Industrial Development Joint Stock Corp reported revenue of 7.0T VND in FY2025 versus 7.0T VND in FY2021, a compound −0.1%/yr. Reported net income was 3.5T VND in FY2025, compounding +24.6%/yr from FY2021.

Key figures

Market cap 45.7T VND · P/E ratio 13.1 · P/S ratio 6.58 · EPS (TTM) 3,105 VND · Net margin 50.4% · Return on equity 15.9% · Return on assets (EBIT) 3.9% · Operating margin 32.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 49% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −9% fair-value upside, at −24%, BCM screens richer than that median.

Fair Value models

Bear 17,801 VND Fair Value 30,690 VND Bull 43,580 VND
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (2,271 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. Evidence ⓘEvidence = 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.
Highest evidence
Residual Income 20,842 VND 25,844 VND 57,095 VND 70
EV/EBITDA 21,286 VND 32,222 VND 43,158 VND 66
EV/EBIT 27,146 VND 40,036 VND 52,925 VND 65
All 7 models by family
Multiples
P/S Multiple 32,750 VND 43,666 VND 54,583 VND 58
P/B Multiple 32,918 VND 43,891 VND 54,864 VND 55
EV/EBIT 27,146 VND 40,036 VND 52,925 VND 65
EV/EBITDA 21,286 VND 32,222 VND 43,158 VND 66
EV/Revenue 9,804 VND 18,944 VND 28,083 VND 51
Asset-Based
NCAV (Graham) 10,973 VND 14,704 VND 21,946 VND 54
Economic Profit
Residual Income 20,842 VND 25,844 VND 57,095 VND 70

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Quality Score breakdown

Overall quality 49/100

Of which business quality 42 · Market factors (momentum, volatility) 29

Profitability 44
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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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. 38/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+32.2%
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.
+1.9%
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.
+1.3%
Start year 2020 (pandemic)
What shareholders gained per year (last 5 years), in VND (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+14.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.8%
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.29% → 35%
2025 sits 60% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

BCM screens 32% overvalued. Compare with Swiss Prime Site AG →

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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.Real Estate - Diversified · 132 stocks

Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −24% · Bottom 25%
Profitability
Return on equity (TTM) 16% · Top 25%
Return on assets 2% · Above median
Net margin (TTM) 55% · Top 25%
Operating margin (TTM) 32% · Above median
Growth and dividend
Revenue growth −40% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.63× · Above median

Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper

P/E (TTM) 13.1× · Pricier than median
P/B 2.01× · Priciest 25%
P/S (TTM) 7.35× · Priciest 25%
EV/EBITDA 22.3× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)1 · sector 38
FUTURE (revenue growth)0 · sector 31
PAST (return on equity)63 · sector 20
HEALTH (low debt)69 · sector 75
DIVIDEND (yield)0 · sector 55

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

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The St. Joe Company JOE $66.21 $34.24 −48%
Parque Arauco S.A PARAUCO 3,909 CLP 5,629 CLP +44%
Frasers Property Limited TQ5 0.9850 SGD 1.10 SGD +12%

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Investment and Industrial Development Joint Stock Corp · Fair Value
30,690 VND −32%Fair Value
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Cite: Fair Value Calculator (2026). "Investment and Industrial Development Joint Stock Corp Fair Value". https://www.fairvalue-calculator.com/stock/BCM

Frequently asked questions

Is Investment and Industrial Development Joint Stock Corp (BCM) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 30,690 VND versus a price of 40,550 VND, about −24% upside (overvalued).
What is the fair value of BCM?
Our model-based fair value for Investment and Industrial Development Joint Stock Corp is 30,690 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 40,550 VND.
What is the quality score of BCM?
Investment and Industrial Development Joint Stock Corp has a Quality Score of 49/100. 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 Investment and Industrial Development Joint Stock Corp (BCM)?
Our model-based price target is the fair value of 30,690 VND (as of Sep 24, 2026) from 7 valuation models. Cautious scenario 17,801 VND, optimistic scenario 43,580 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Investment and Industrial Development Joint Stock Corp stock forecast for 2026?
Our models put fair value at 30,690 VND, about −24% upside versus a price of 40,550 VND (overvalued). Cautious scenario 17,801 VND, optimistic scenario 43,580 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Investment and Industrial Development Joint Stock Corp (BCM)?
Investment and Industrial Development Joint Stock Corp reported trailing-twelve-month revenue of about 6.2T VND (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Investment and Industrial Development Joint Stock Corp (BCM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Investment and Industrial Development Joint Stock Corp it is 30,690 VND per share (as of Sep 24, 2026), against a price of 40,550 VND. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Investment and Industrial Development Joint Stock Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BCM trades above its calculated fair value: price 40,550 VND, fair value 30,690 VND, a gap of about −24% (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 BCM?
No. The price is what the market pays today (40,550 VND); the fair value is what the company's own numbers justify (30,690 VND). For Investment and Industrial Development Joint Stock Corp the two are 9,860 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Investment and Industrial Development Joint Stock Corp worth?
The market values Investment and Industrial Development Joint Stock Corp at about 45.7T VND (market capitalisation, as of Sep 24, 2026). Per share that is 40,550 VND; our models calculate a fair value of 30,690 VND per share.
What do the bullish and bearish scenarios say about BCM?
Our models span a range for Investment and Industrial Development Joint Stock Corp: cautious scenario 17,801 VND, base 30,690 VND, optimistic 43,580 VND per share (as of Sep 24, 2026, price 40,550 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BCM?
Investment and Industrial Development Joint Stock Corp trades at a price-to-earnings ratio of 13.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 30,690 VND is built from several models across several years. Other multiples: P/B 2.0, P/S 7.4, EV/EBITDA 22.3.
How solid is the balance sheet of Investment and Industrial Development Joint Stock Corp (BCM)?
Balance-sheet figures for Investment and Industrial Development Joint Stock Corp (as of Sep 24, 2026): return on equity 15.9%, debt of 0.63 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is BCM from its 52-week high?
Investment and Industrial Development Joint Stock Corp trades at 40,550 VND, about 49% below its 52-week high of 80,000 VND and 16% above the low of 35,000 VND (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 30,690 VND is for.
Which stocks are comparable to Investment and Industrial Development Joint Stock Corp?
From the same area (Real Estate) we also value Swiss Prime Site AG, Central Pattana Public Company, Prestige Estates Projects Limited, The Phoenix Mills 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 Investment and Industrial Development Joint Stock Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 40,550 VND, calculated fair value 30,690 VND (−24%), Quality Score 49/100, from 7 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 BCM calculated?
We run Investment and Industrial Development Joint Stock Corp through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 30,690 VND, 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 14.1 % above its aggregate fair value. Investment and Industrial Development Joint Stock Corp 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 Investment and Industrial Development Joint Stock Corp (BCM)?
The closing price on Sep 23, 2026 was 40,550 VND. Our model-based fair value is 30,690 VND, about −24% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Investment and Industrial Development Joint Stock Corp right now?
Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (17,801 VND to 43,580 VND) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Investment and Industrial Development Joint Stock Corp

How large is the market capitalisation of Investment and Industrial Development Joint Stock Corp (BCM)?
The market capitalisation of Investment and Industrial Development Joint Stock Corp is 45.7T VND. 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 Investment and Industrial Development Joint Stock Corp (BCM)?
The price-to-sales ratio of Investment and Industrial Development Joint Stock Corp is 6.58 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Investment and Industrial Development Joint Stock Corp (BCM)?
Earnings per share at Investment and Industrial Development Joint Stock Corp are 3,105 VND (price ÷ EPS = P/E 13.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Investment and Industrial Development Joint Stock Corp (BCM)?
The net margin of Investment and Industrial Development Joint Stock Corp is 50.4% (fiscal year 2025). 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 Investment and Industrial Development Joint Stock Corp (BCM)?
The return on equity (ROE) of Investment and Industrial Development Joint Stock Corp is 15.9% (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 Investment and Industrial Development Joint Stock Corp (BCM)?
On an EBIT basis the return on assets of Investment and Industrial Development Joint Stock Corp is 3.9% (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 Investment and Industrial Development Joint Stock Corp (BCM)?
The operating margin of Investment and Industrial Development Joint Stock Corp is 32.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Investment and Industrial Development Joint Stock Corp (BCM)?
Revenue at Investment and Industrial Development Joint Stock Corp is growing −40.0% versus a year earlier (3y avg +1.9%). 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 Investment and Industrial Development Joint Stock Corp (BCM)?
Earnings per share at Investment and Industrial Development Joint Stock Corp are growing −23.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Investment and Industrial Development Joint Stock Corp (BCM) generate?
The free cash flow of Investment and Industrial Development Joint Stock Corp is −379B 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 Investment and Industrial Development Joint Stock Corp (BCM) carry?
The net debt of Investment and Industrial Development Joint Stock Corp is 21.6T 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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