Becamex Investment and Industrial Development Group (BCM) Fair Value & Analysis
Real Estate · VN · Market cap 45.7T VND
Fair value as of: Jul 18, 2026
From 7 valuation models · updated 23 days ago
Share price −23.9% over the past month.
Below-average quality, and screening another 20% overvalued on our models.
What matters 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 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 38,600 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 Jul 18, 2026.
Analysis
Becamex Investment and Industrial Development Group (BCM) currently trades at 38,600 VND, while our model-based Fair Value estimate is 30,690 VND, implying the stock looks roughly 20.5% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Becamex Investment and Industrial Development Group generated revenue of 6.2T VND at a net margin of 55.1%. Revenue declined 40.0% year over year. It earns a return on equity of 15.9%. Net debt stands at 21.6T VND. Fundamentals as of Jul 18, 2026
Our scenario range runs from 17,801 VND (bear case) to 43,580 VND (bull case); at 38,600 VND, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 54% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -30% fair-value upside, at -20%, BCM screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 7 models by family
Widest divergence: Multiples (40,036 VND) versus Asset-Based (14,704 VND). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 27
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Becamex Investment and Industrial Development Group engages in the investment and development of industrial, residential, urban, and transportation infrastructure projects in Vietnam.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Becamex Investment and Industrial Development Group 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.
BCM screens 20% overvalued. Compare with Swiss Prime Site AG →
Peer Group
Real Estate - Diversified · 138 stocks
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.
Valuation Multiples vs Real Estate - Diversified median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Swiss Prime Site AG SPSN | CHF 129.20 | CHF 44.83 | -65% |
| Central Pattana Public Company CPN | 68.75 THB | 71.37 THB | +4% |
| Prestige Estates Projects Limited PRESTIGE | ₹1,733 | ₹645.21 | -63% |
| The Phoenix Mills Limited PHOENIXLTD | ₹2,076 | ₹701.74 | -66% |
| Fastighets AB BALDB | kr 50.42 | kr 70.70 | +40% |
| Umm Al Qura for Development and Construction Company 4325 | 16.39 SAR | 11.62 SAR | -29% |
| Hainan Airport Infrastructure Co 600515 | ¥2.89 | ¥0.3300 | -89% |
| Shenzhen Special Economic Zone Real Estate & Properties (Group) Co 000029 | ¥19.95 | ¥4.60 | -77% |
| Parque Arauco S.A PARAUCO | 3,940 CLP | 2,777 CLP | -30% |
| Corporación Inmobiliaria Vesta, S.A. VESTA | 59.57 MXN | 53.94 MXN | -9% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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