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Binh Minh Plastics Joint Stock Company (BMP) Fair Value & Analysis

Industrials · VN · Market cap 12.4T VND

BM Binh Minh Plastics Joint Stock Company BMP · VN
Price148,800 VND
Fair Value246,124 VND
Upside+65.4%
Quality90/100
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Healthy Growth
Highly profitable · 22.3% net margin
Low debt · generates free cash flow
Ranks above peers (11/14)
Wide moat 86/100
Evidence: High Range 170,443 VND – 352,336 VND Share as image

Fair value as of: Jul 16, 2026

From 22 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 245,588 VND to 246,124 VND (+0.2%) since Jul 15, 2026. Share price +1.8% over the past month.

A strong business, screening 65% undervalued on our models.

What matters now

  • The rarer combination: high quality (90/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (170,443 VND). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (170,443 VND to 352,336 VND) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

178,584 VND 32,457 VND Fair Value 246,124 VND Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 32,457 VND – 178,584 VND · fair‑value band 170,443 VND – 352,336 VND · the 148,800 VND price screens below the 246,124 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Binh Minh Plastics Joint Stock Company (BMP) currently trades at 148,800 VND, while our model-based Fair Value estimate is 246,124 VND, implying the stock looks roughly 65.4% undervalued today. The Quality Score stands at 90/100 (high quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Binh Minh Plastics Joint Stock Company generated revenue of 5.6T VND at a net margin of 22.3%. Revenue grew 5.4% year over year. It earns a return on equity of 40.4%. The stock trades on a trailing P/E of 8.9. Fundamentals as of Jul 16, 2026

Our scenario range runs from 170,443 VND (bear case) to 352,336 VND (bull case); at 148,800 VND, the current price sits below 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 18% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at 65%, BMP 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.

Model 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
Highest evidence
Growth DCF 152,798 VND 208,358 VND 304,532 VND 80
Residual Income 122,307 VND 186,344 VND 2,549,229 VND 76
Rev-Margin DCF 105,450 VND 147,174 VND 198,208 VND 74
All 22 models by family
DCF Models
FCF DCF 146,725 VND 203,572 VND 309,235 VND 38
Owner Earnings 160,128 VND 222,299 VND 337,858 VND 31
5Y Revenue Exit 105,450 VND 144,621 VND 199,418 VND 39
5Y EBITDA Exit 171,048 VND 257,014 VND 366,566 VND 41
5Y P/E Exit 186,115 VND 282,829 VND 393,354 VND 38
10Y Revenue Exit 117,020 VND 154,296 VND 196,489 VND 36
10Y EBITDA Exit 160,798 VND 230,532 VND 311,093 VND 37
10Y P/E Exit 170,293 VND 248,043 VND 329,460 VND 35
Earnings-Based
Graham-Dodd 102,068 VND 182,575 VND 224,913 VND 54
EPV 186,589 VND 218,875 VND 247,574 VND 59
Multiples
P/E Multiple 236,408 VND 315,211 VND 394,013 VND 63
P/S Multiple 100,956 VND 134,608 VND 168,260 VND 58
P/B Multiple 118,633 VND 158,178 VND 197,722 VND 55
EV/EBIT 262,820 VND 349,216 VND 435,611 VND 53
EV/EBITDA 212,855 VND 282,596 VND 352,336 VND 54
EV/Revenue 88,436 VND 124,780 VND 161,125 VND 43
Asset-Based
NCAV (Graham) 17,575 VND 23,551 VND 35,151 VND 50
Growth DCF
Growth DCF 152,798 VND 208,358 VND 304,532 VND 80
Rev-Margin DCF 105,450 VND 147,174 VND 198,208 VND 74
Economic Profit
Residual Income 122,307 VND 186,344 VND 2,549,229 VND 76
ROIC Compounder 188,987 VND 224,616 VND 258,552 VND 72
Growth Earnings
Growth-Adj P/E 166,936 VND 238,479 VND 310,023 VND 68

Widest divergence: Growth Earnings (238,479 VND) versus Asset-Based (23,551 VND). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 5.6T VND
Revenue growth (YoY) +5.4%
Net margin 22.3%
Return on equity 40.4%
Free cash flow 1.1T VND FY2025
P/E ratio 9.9
More key figures
Operating margin 27.9%
EPS (TTM) 15,212 VND
EPS growth (YoY) +5.9%

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 90/100

Of which business quality 86 · Market factors (momentum, volatility) 54

Profitability 98
Margins and returns on capital today
Quality Growth 92
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Binh Minh Plastics Joint Stock Company 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.

Growth Quality 75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
5.5T VND
Latest YoY
+19.4%
Avg. growth/yr (3Y) 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.
−1.7%
Avg. growth/yr (5Y) 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.
+3.3%
Avg. growth/yr (6Y) 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.
+4.1%
Revenue +4.9%/yr
FY21 4.6T VND
FY22 5.8T VND
FY23 5.2T VND
FY24 4.6T VND
FY25 5.5T VND
Net income +54.7%/yr
FY21 214B VND
FY22 694B VND
FY23 1.0T VND
FY24 991B VND
FY25 1.2T VND

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Cite: Fair Value Calculator (2026). "Binh Minh Plastics Joint Stock Company Fair Value". https://www.fairvalue-calculator.com/stock/BMP

Peer Group

Building Products & Equipment · 247 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.

Quality Score 90 · Top 25%
Fair Value upside +65% · Top 25%
Return on equity (TTM) 40% · Top 25%
Return on assets 28% · Top 25%
Net margin (TTM) 22% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/E (TTM) 9.9× · Cheaper than 75% of peers
P/B 4.30× · Pricier than 75% of peers
P/S (TTM) 2.21× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 6.8× · Cheaper than median

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.

VALUE 100 · sector 3
FUTURE 27 · sector 9
PAST 100 · sector 23
HEALTH 100 · sector 94
DIVIDEND 0 · sector 28

Insider activity: 45/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

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Geberit AG GEBN CHF 523.20 CHF 307.66 -41%
Lennox International Inc LII $543.93 $363.09 -33%
Kingspan Group KRX €87.30 €70.76 -19%
Masco Corporation MAS $78.04 $54.36 -30%
PT Impack Pratama Industri Tbk, IMPC 1,420 IDR 179.76 IDR -87%
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Frequently asked questions

Is Binh Minh Plastics Joint Stock Company (BMP) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 246,124 VND versus a price of 148,800 VND, about +65% (undervalued).
What is the fair value of BMP?
Our model-based fair value for Binh Minh Plastics Joint Stock Company is 246,124 VND (as of Jul 16, 2026), built from audited fundamentals. The current price is 148,800 VND.
What is the quality score of BMP?
Binh Minh Plastics Joint Stock Company 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 revenue of Binh Minh Plastics Joint Stock Company (BMP)?
Binh Minh Plastics Joint Stock Company reported trailing-twelve-month revenue of about 5.6T VND (latest available figure, as of Jul 16, 2026).
What is the net profit margin of BMP?
The net profit margin of Binh Minh Plastics Joint Stock Company is about 22.3%, meaning it keeps roughly 22.3% of revenue as net income. Based on the latest reported figures.

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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