Binh Minh Plastics JSC (BMP) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Binh Minh Plastics JSC VND 165,046, price VND 145,300, upside +13.6%, quality 90 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 32,457 VND – 178,584 VND · fair‑value band 119,739 VND – 216,923 VND · the 145,300 VND price screens below the 165,046 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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Binh Minh Plastics Joint Stock Company manufactures and trades in plastic pipes and pipe fittings for water supply and drainage, telecommunication, electricity, and industrial and civil construction industries primarily in Vietnam.
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Binh Minh Plastics Joint Stock Company manufactures and trades in plastic pipes and pipe fittings for water supply and drainage, telecommunication, electricity, and industrial and civil construction industries primarily in Vietnam. Its products portfolio includes PVC-U pipe and fittings; PP-R pipe and fittings; HDPE pipe and fittings; solvent cement; UV resistant PP-R pipe and fittings; HDPE pipe double wall corrugated and fittings; rubber seals; and sprayers products. The company also designs, manufactures, and trades molds for plastics and casting industry. In addition, it is involved in the consultation and execution of water supply and drainage works, yards, and services of chemical inspection, analysis, and testing, as well as the trade, import, and export raw materials, chemicals, supplies, machinery and equipment for plastics, engineering, construction, water supply and drainage, and laboratory equipment. The company was founded in 1977 and is headquartered in Ho Chi Minh City, Vietnam. Binh Minh Plastics Joint Stock Company (HOSE:BMP) operates as a subsidiary of Nawaplastic Industries Co., Ltd.
Stock analysis
Binh Minh Plastics JSC (BMP) currently trades at 145,300 VND, while our model-based Fair Value estimate is 165,046 VND, implying the stock looks roughly 12.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 238,479 VND per share, and 16 of the 22 models we run sit above the 145,300 VND price.
Bear case: the Asset-Based group reads lowest at 23,551 VND, and 6 of the 22 models stay below the price. Evidence for this calculation is medium.
Scenario range: 119,739 VND (bear) to 216,923 VND (bull), the price of 145,300 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 90/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Binh Minh Plastics JSC reported revenue of 5.5T VND in FY2025 versus 4.6T VND in FY2021, a compound +4.9%/yr. Reported net income was 1.2T VND in FY2025, compounding +54.7%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 11.9T VND · P/E ratio 9.6 · P/S ratio 2.13 · EPS (TTM) 15,212 VND · Net margin 22.3% · Return on equity 40.4% · Return on assets (EBIT) 35.0% · Operating margin 27.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 27% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at 14%, BMP screens cheaper than that median.
Fair Value models
Bear 119,739 VNDFair Value 165,046 VNDBull 216,923 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 (11,169 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.
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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
What shareholders gained per year (last 5 years), in VND ⓘ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. 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.
+23.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.8%
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.15% → 30%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+5.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Vietnam: IMF forecast 4.1% a year to 2030, 3.1% from 2016 to 2025) that is about +1.3% a year for the price and +2.0% for the forecasts.
Price, fair value, quality and upside side by side.
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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.Building Products & Equipment · 253 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score90 · Top 25%
Fair Value upside+14% · Above median
Profitability
Return on equity (TTM)40% · Top 25%
Return on assets28% · Top 25%
Net margin (TTM)22% · Top 25%
Operating margin (TTM)28% · Top 25%
Growth and dividend
Revenue growth5% · Above median
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
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Is Binh Minh Plastics JSC (BMP) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 165,046 VND versus a price of 145,300 VND, about +14% upside (undervalued).
What is the fair value of BMP?
Our model-based fair value for Binh Minh Plastics JSC is 165,046 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 145,300 VND.
What is the quality score of BMP?
Binh Minh Plastics JSC has a Quality Score of 90/100. 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 Binh Minh Plastics JSC (BMP)?
Our model-based price target is the fair value of 165,046 VND (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 119,739 VND, optimistic scenario 216,923 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Binh Minh Plastics JSC stock forecast for 2026?
Our models put fair value at 165,046 VND, about +14% upside versus a price of 145,300 VND (undervalued). Cautious scenario 119,739 VND, optimistic scenario 216,923 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Binh Minh Plastics JSC (BMP)?
Binh Minh Plastics JSC reported trailing-twelve-month revenue of about 5.6T VND (latest available figure, as of Sep 24, 2026).
What growth is priced into Binh Minh Plastics JSC (BMP)?
For today's price to be fair in a discounted-cash-flow model, Binh Minh Plastics JSC would have to grow free cash flow by +5.5 % per year for five years (discount rate 13.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BMP use?
Our models discount Binh Minh Plastics JSC at 13.4 %: a base by market capitalisation (small), damped by beta 0.58, country premium for Vietnam. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Binh Minh Plastics JSC that is +5.5 % per year a year over ten years, using the same discount rate (13.4 %) and the same formula as our fair value.
How much growth has Binh Minh Plastics JSC (BMP) delivered so far?
Over the past 5 years revenue at Binh Minh Plastics JSC grew +3.3 % a year. The price currently implies +5.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Binh Minh Plastics JSC (BMP) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Binh Minh Plastics JSC (+5.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Binh Minh Plastics JSC (BMP)?
The free-cash-flow yield on the price is 9.19 %: that much free cash flow Binh Minh Plastics JSC produces per unit of market value. When it exceeds the discount rate of our models (13.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Binh Minh Plastics JSC (BMP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Binh Minh Plastics JSC it is 165,046 VND per share (as of Sep 24, 2026), against a price of 145,300 VND. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Binh Minh Plastics JSC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BMP trades below its calculated fair value: price 145,300 VND, fair value 165,046 VND, a gap of about +14% (undervalued). 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 BMP?
No. The price is what the market pays today (145,300 VND); the fair value is what the company's own numbers justify (165,046 VND). For Binh Minh Plastics JSC the two are 19,746 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Binh Minh Plastics JSC worth?
The market values Binh Minh Plastics JSC at about 11.9T VND (market capitalisation, as of Sep 24, 2026). Per share that is 145,300 VND; our models calculate a fair value of 165,046 VND per share.
What do the bullish and bearish scenarios say about BMP?
Our models span a range for Binh Minh Plastics JSC: cautious scenario 119,739 VND, base 165,046 VND, optimistic 216,923 VND per share (as of Sep 24, 2026, price 145,300 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BMP?
Binh Minh Plastics JSC trades at a price-to-earnings ratio of 9.6 (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 165,046 VND is built from several models across several years. Other multiples: P/B 4.1, P/S 2.1, EV/EBITDA 6.5.
How solid is the balance sheet of Binh Minh Plastics JSC (BMP)?
Balance-sheet figures for Binh Minh Plastics JSC (as of Sep 24, 2026): return on equity 40.4%. They feed the Quality Score of 90/100, which measures business quality independently of the share price.
How far is BMP from its 52-week high?
Binh Minh Plastics JSC trades at 145,300 VND, about 19% below its 52-week high of 178,584 VND and 27% above the low of 114,642 VND (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 165,046 VND is for.
Which stocks are comparable to Binh Minh Plastics JSC?
From the same area (Industrials) we also value Trane Technologies plc, Johnson Controls International plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.A, 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 Binh Minh Plastics JSC stock attractive at the current price?
The data as of Sep 24, 2026: price 145,300 VND, calculated fair value 165,046 VND (+14%), Quality Score 90/100, from 22 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 BMP calculated?
We run Binh Minh Plastics JSC through 22 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 165,046 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. Binh Minh Plastics JSC currently trades 14 % below its own fair value, and the market average says nothing about that. 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 Binh Minh Plastics JSC (BMP)?
The closing price on Sep 23, 2026 was 145,300 VND. Our model-based fair value is 165,046 VND, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Binh Minh Plastics JSC right now?
A fairly wide model range (119,739 VND to 216,923 VND) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Binh Minh Plastics JSC
How large is the market capitalisation of Binh Minh Plastics JSC (BMP)?
The market capitalisation of Binh Minh Plastics JSC is 11.9T 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 Binh Minh Plastics JSC (BMP)?
The price-to-sales ratio of Binh Minh Plastics JSC is 2.13 (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 Binh Minh Plastics JSC (BMP)?
Earnings per share at Binh Minh Plastics JSC are 15,212 VND (price ÷ EPS = P/E 9.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Binh Minh Plastics JSC (BMP)?
The net margin of Binh Minh Plastics JSC is 22.3% (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 Binh Minh Plastics JSC (BMP)?
The return on equity (ROE) of Binh Minh Plastics JSC is 40.4% (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 Binh Minh Plastics JSC (BMP)?
On an EBIT basis the return on assets of Binh Minh Plastics JSC is 35.0% (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 Binh Minh Plastics JSC (BMP)?
The operating margin of Binh Minh Plastics JSC is 27.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Binh Minh Plastics JSC (BMP)?
Revenue at Binh Minh Plastics JSC is growing +5.4% versus a year earlier (3y avg −1.7%). 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 Binh Minh Plastics JSC (BMP)?
Earnings per share at Binh Minh Plastics JSC are growing +5.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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