BaoViet Holdings (BVH) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of BaoViet Holdings VND 47,152, price VND 69,300, upside -32.0%, quality 52 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 36,409 VND – 86,000 VND · fair‑value band 35,364 VND – 58,940 VND · the 69,300 VND price screens above the 47,152 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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Bao Viet Holdings, through its subsidiaries, engages in insurance, financial, and real estate activities in Vietnam.
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Bao Viet Holdings, through its subsidiaries, engages in insurance, financial, and real estate activities in Vietnam. The company offers various whole life; endowment; term life; endowment; bancassurance; annuity; universal life; healthcare and personal accident riders; other types of life insurance; property and damages; cargo insurance; hull and P&l insurance; general indemnity insurance; aviation insurance; automobile insurance; fire and special risk insurance; agriculture insurance; and assuming and ceding reinsurance for all types of non-life insurances. It also provides fund management, investment portfolio management, securities brokerage and trading, investment consulting, securities brokerage, securities underwriting and issuance agency, securities trading, custodian services, investment, and financial consulting services. In addition, the company engages in the provision of rental and related services; and develops real estate projects. Further, it offers IT and other computer related services; and educational support services and other activities. Bao Viet Holdings was founded in 1965 and is headquartered in Hanoi, Vietnam.
Stock analysis
BaoViet Holdings (BVH) currently trades at 69,300 VND, while our model-based Fair Value estimate is 47,152 VND, implying the stock looks roughly 47.0% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 46,359 VND per share, and 0 of the 4 models we run sit above the 69,300 VND price.
Bear case: the Asset-Based group reads lowest at 22,186 VND, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.
Scenario range: 35,364 VND (bear) to 58,940 VND (bull), the price of 69,300 VND sits above 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 52/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
BaoViet Holdings reported revenue of 58.9T VND in FY2025 versus 50.6T VND in FY2021, a compound +3.9%/yr. Reported net income was 2.8T VND in FY2025, compounding +10.6%/yr from FY2021.
Key figures
Market cap 51.4T VND · P/E ratio 16.6 · P/S ratio 0.80 · EPS (TTM) 4,166 VND · Net margin 4.8% · Return on equity 12.1% · Return on assets 1.5% · Operating margin 14.5%.
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 19% below its 52-week high and 50% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −23% fair-value upside, at −32%, BVH screens richer than that median.
Fair Value models
Bear 35,364 VNDFair Value 47,152 VNDBull 58,940 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 (3,047 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.71/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.0%
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.
+3.0%
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.
+3.7%
Start year 2020 (pandemic)
Revenue growth 6 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.
+4.7%
’19
’20
’21
’22
’23
’24
’25
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.
+12.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.2%
Dividend (yield on the price)0.0%
2025 sits 57% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−2.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Vietnam: IMF forecast 4.1% a year to 2030, 3.1% from 2016 to 2025) that is about −6.2% a year for the price.
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.Insurance - Diversified · 83 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Bottom 25%
Fair Value upside−32% · Below median
Profitability
Return on equity (TTM)12% · Below median
Return on assets2% · Below median
Net margin (TTM)5% · Below median
Operating margin (TTM)15% · Above median
Growth and dividend
Revenue growth5% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Insurance - Diversified median · lower = cheaper
P/E (TTM)16.6× · Pricier than median
P/B2.10× · Priciest 25%
P/S (TTM)0.92× · Pricier than median
P/FCF0.0× · Cheapest 25%
EV/EBITDA6.7× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 7
FUTURE (revenue growth)27· sector 31
PAST (return on equity)48· sector 49
HEALTH (low debt)100· sector 89
DIVIDEND (yield)0· sector 72
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "BaoViet Holdings Fair Value". https://www.fairvalue-calculator.com/stock/BVH
Frequently asked questions
Is BaoViet Holdings (BVH) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 47,152 VND versus a price of 69,300 VND, about −32% upside (overvalued).
What is the fair value of BVH?
Our model-based fair value for BaoViet Holdings is 47,152 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 69,300 VND.
What is the quality score of BVH?
BaoViet Holdings has a Quality Score of 52/100. 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 BaoViet Holdings (BVH)?
Our model-based price target is the fair value of 47,152 VND (as of Sep 24, 2026) from 4 valuation models. Cautious scenario 35,364 VND, optimistic scenario 58,940 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the BaoViet Holdings stock forecast for 2026?
Our models put fair value at 47,152 VND, about −32% upside versus a price of 69,300 VND (overvalued). Cautious scenario 35,364 VND, optimistic scenario 58,940 VND. The calculation is refreshed regularly with new filings.
What is the revenue of BaoViet Holdings (BVH)?
BaoViet Holdings reported trailing-twelve-month revenue of about 56.2T VND (latest available figure, as of Sep 24, 2026).
What growth is priced into BaoViet Holdings (BVH)?
For today's price to be fair in a discounted-cash-flow model, BaoViet Holdings would have to grow free cash flow by -2.4 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BVH use?
Our models discount BaoViet Holdings at 10.9 %: a base by market capitalisation (mega), damped by beta 0.18, 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 BaoViet Holdings that is -2.4 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has BaoViet Holdings (BVH) delivered so far?
Over the past 5 years revenue at BaoViet Holdings grew +3.7 % a year. The price currently implies -2.4 % 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 BaoViet Holdings (BVH) growing?
The median revenue growth in the sector is +8.5 % a year. That is the yardstick for the growth priced into BaoViet Holdings (-2.4 % 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 BaoViet Holdings (BVH)?
The free-cash-flow yield on the price is 11.02 %: that much free cash flow BaoViet Holdings produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BaoViet Holdings (BVH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BaoViet Holdings it is 47,152 VND per share (as of Sep 24, 2026), against a price of 69,300 VND. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is BaoViet Holdings stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BVH trades above its calculated fair value: price 69,300 VND, fair value 47,152 VND, a gap of about −32% (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 BVH?
No. The price is what the market pays today (69,300 VND); the fair value is what the company's own numbers justify (47,152 VND). For BaoViet Holdings the two are 22,148 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is BaoViet Holdings worth?
The market values BaoViet Holdings at about 51.4T VND (market capitalisation, as of Sep 24, 2026). Per share that is 69,300 VND; our models calculate a fair value of 47,152 VND per share.
What do the bullish and bearish scenarios say about BVH?
Our models span a range for BaoViet Holdings: cautious scenario 35,364 VND, base 47,152 VND, optimistic 58,940 VND per share (as of Sep 24, 2026, price 69,300 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BVH?
BaoViet Holdings trades at a price-to-earnings ratio of 16.6 (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 47,152 VND is built from several models across several years. Other multiples: P/B 2.1, P/S 0.9, EV/EBITDA 6.7.
How solid is the balance sheet of BaoViet Holdings (BVH)?
Balance-sheet figures for BaoViet Holdings (as of Sep 24, 2026): return on equity 12.1%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is BVH from its 52-week high?
BaoViet Holdings trades at 69,300 VND, about 19% below its 52-week high of 86,000 VND and 50% above the low of 46,213 VND (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 47,152 VND is for.
Which stocks are comparable to BaoViet Holdings?
From the same area (Financial Services) we also value Allianz SE, Zurich Insurance Group, AXA SA, Assicurazioni Generali S.p.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 BaoViet Holdings stock attractive at the current price?
The data as of Sep 24, 2026: price 69,300 VND, calculated fair value 47,152 VND (−32%), Quality Score 52/100, from 4 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 BVH calculated?
We run BaoViet Holdings through 4 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 47,152 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. BaoViet Holdings 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 BaoViet Holdings (BVH)?
The closing price on Sep 23, 2026 was 69,300 VND. Our model-based fair value is 47,152 VND, about −32% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BaoViet Holdings right now?
The price sits above even our optimistic bull case (58,940 VND). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of BaoViet Holdings
How large is the market capitalisation of BaoViet Holdings (BVH)?
The market capitalisation of BaoViet Holdings is 51.4T 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 BaoViet Holdings (BVH)?
The price-to-sales ratio of BaoViet Holdings is 0.80 (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 BaoViet Holdings (BVH)?
Earnings per share at BaoViet Holdings are 4,166 VND (price ÷ EPS = P/E 16.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of BaoViet Holdings (BVH)?
The net margin of BaoViet Holdings is 4.8% (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 BaoViet Holdings (BVH)?
The return on equity (ROE) of BaoViet Holdings is 12.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of BaoViet Holdings (BVH)?
The return on assets (ROA) of BaoViet Holdings is 1.5% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of BaoViet Holdings (BVH)?
The operating margin of BaoViet Holdings is 14.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BaoViet Holdings (BVH)?
Revenue at BaoViet Holdings is growing +5.4% versus a year earlier (3y avg +3.0%). 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 BaoViet Holdings (BVH)?
Earnings per share at BaoViet Holdings are growing +18.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does BaoViet Holdings (BVH) carry?
The net debt of BaoViet Holdings is 1.4T VND (fiscal year 2024, ≈ 0.3 yrs of FCF). 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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