Viettel Construction JSC (CTR) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Viettel Construction JSC stock VND 98,851, price VND 63,900, upside +54.7%, quality 63 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 27,425 VND – 125,494 VND · fair‑value band 69,196 VND – 128,506 VND · the 63,900 VND price screens below the 98,851 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Viettel Construction Joint Stock Corporation, together with its subsidiaries, engages in the construction business in Vietnam and internationally.
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It operates through five segments: Construction Activities; Information Exploitation and Response Operations; Commercial Operations and Integrated Solutions; Infrastructure Leasing Business Activities; and Technical Service Activities.
The company constructs apartments, resorts, hotels, and administrative offices, as well as telecommunication, post and television infrastructure, railways, roads, public works, and other civil engineering works; and offers construction design consulting services and interior and exterior architecture, as well as installation, repair, maintenance, and servicing of telecommunications infrastructure.
It also provides digital transformation consulting to businesses, IT solution outsourcing services, consulting services for IT deployment and operation, ERP business management software solutions, software solution group, and business intelligence software solutions; and technical solutions and services, including ICT, M and E, solar energy, IT, smart infrastructure, building managed, and smart solutions, as well as solar battery care services, IT and telecommunication infrastructure operation services, and household electrical equipment services.
In addition, the company engages in the construction, maintenance, and operation of networks; and leasing of BTS, DAS, undergrounding, transmission, and energy and IoT infrastructure, as well as inbuilding.
Further, it is involved in the trading of electrical, electronic, telecommunications, and information technology equipment; wired and wireless telecommunications; and management of construction and installation of electronic and telecommunication projects.
The company was founded in 1995 and is headquartered in Hanoi, Vietnam.
Stock analysis
Viettel Construction JSC (CTR) currently trades at 63,900 VND, while our model-based Fair Value estimate is 98,851 VND, implying the stock looks roughly 35% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 132,144 VND per share, and 20 of the 26 models we run sit above the 63,900 VND price.
Bear case: the Dividend Discount group reads lowest at 18,824 VND, and 6 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 69,196 VND (bear) to 128,506 VND (bull), the price of 63,900 VND sits below 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 63/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Viettel Construction JSC reported revenue of 13.9T VND in FY2025 versus 7.4T VND in FY2021, a compound +17.0%/yr. Reported net income was 600B VND in FY2025, compounding +12.4%/yr from FY2021.
Key figures
Market cap 8.0T VND (≈ $314M) Small · P/E ratio 12.6 · P/S ratio 0.51 · EPS (TTM) 5,091 VND · Net margin 4.1% · Return on equity 30.3% · Return on assets (EBIT) 9.9% (5-year average) · Operating margin 5.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 31% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 55%, CTR screens cheaper than that median.
Fair Value models
Bear69,196 VNDFair Value 98,851 VNDBull128,506 VND
Price 63,900 VND · Upside +54.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (4,366 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.5%
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.
+13.8%
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.
+17.0%
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.
+18.2%
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’25
What shareholders gained per year (last 3 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 3 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.
+7.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.0%
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.5% → 5%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than 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).
−1.3%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+16.1%
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 −5.1% a year for the price and +11.5% for the forecasts.
Compare Viettel Construction JSC with another stock
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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.Engineering & Construction · 791 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+51.4% · Above median
Profitability
Return on equity (12 months)30.3% · Top 25%
Return on assets7.3% · Top 25%
Net margin (12 months)4.1% · Above median
Operating margin (12 months)5.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)6.6% · Above median
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.24× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)12.6× · Cheaper than median
P/B3.97× · Priciest 25%
P/S (12 months)0.51× · Cheaper than median
Price / free cash flow (fiscal year)7.6× · Cheaper than median
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). "Viettel Construction JSC Fair Value". https://www.fairvalue-calculator.com/stock/CTR
Frequently asked questions
Is Viettel Construction JSC (CTR) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 98,851 VND versus a price of 63,900 VND, about +55% upside (undervalued).
What is the fair value of CTR?
Our model-based fair value for Viettel Construction JSC is 98,851 VND (as of Nov 5, 2026), built from audited fundamentals. The current price: 63,900 VND.
What is the quality score of CTR?
Viettel Construction JSC has a Quality Score of 63/100. 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 Viettel Construction JSC (CTR)?
Our model-based price target is the fair value of 98,851 VND (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 69,196 VND, optimistic scenario 128,506 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Viettel Construction JSC stock forecast for 2026?
Our models put fair value at 98,851 VND, about +55% upside versus a price of 63,900 VND (undervalued). Cautious scenario 69,196 VND, optimistic scenario 128,506 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Viettel Construction JSC (CTR)?
Viettel Construction JSC reported trailing-twelve-month revenue of about 16.2T VND (latest available figure, as of Nov 5, 2026).
What growth is priced into Viettel Construction JSC (CTR)?
For today's price to be fair in a discounted-cash-flow model, Viettel Construction JSC would have to grow free cash flow by -1.3 % per year for five years (discount rate 14.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.0 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of CTR use?
Our models discount Viettel Construction JSC at 14.0 %: a base by market capitalisation (small), damped by beta 0.75, 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 Viettel Construction JSC that is -1.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (14.0 %) and the same formula as our fair value.
How much growth has Viettel Construction JSC (CTR) delivered so far?
Over the past 5 years revenue at Viettel Construction JSC grew +17.0 % a year. The price currently implies free-cash-flow growth of -1.3 % per 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 Viettel Construction JSC (CTR) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Viettel Construction JSC (-1.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Viettel Construction JSC (CTR)?
The free-cash-flow yield on the price is 14.86 %: that much free cash flow Viettel Construction JSC produces per unit of market value. When it exceeds the discount rate of our models (14.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Viettel Construction JSC (CTR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Viettel Construction JSC it is 98,851 VND per share (as of Nov 5, 2026), against a price of 63,900 VND. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Viettel Construction JSC stock overvalued or undervalued in 2026?
As of Nov 5, 2026, CTR trades below its calculated fair value: price 63,900 VND, fair value 98,851 VND, a gap of about +55% (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 CTR?
No. The price is what the market pays today (63,900 VND); the fair value is what the company's own numbers justify (98,851 VND). For Viettel Construction JSC the two are 34,951 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Viettel Construction JSC worth?
The market values Viettel Construction JSC at about 8.0T VND (market capitalisation, as of Nov 5, 2026). Per share that is 63,900 VND; our models calculate a fair value of 98,851 VND per share.
What do the bullish and bearish scenarios say about CTR?
Our models span a range for Viettel Construction JSC: cautious scenario 69,196 VND, base 98,851 VND, optimistic 128,506 VND per share (as of Nov 5, 2026, price 63,900 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CTR?
Viettel Construction JSC trades at a price-to-earnings ratio of 12.6 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 98,851 VND is built from several models across several years. Other multiples: P/B 4.0, P/S 0.5, EV/EBITDA 6.1.
How solid is the balance sheet of Viettel Construction JSC (CTR)?
Balance-sheet figures for Viettel Construction JSC (as of Nov 5, 2026): return on equity 30.3%, debt of 0.24 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is CTR from its 52-week high?
Viettel Construction JSC trades at 63,900 VND, about 31% below its 52-week high of 92,842 VND and at the low of 63,900 VND (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 98,851 VND is for.
Which stocks are comparable to Viettel Construction JSC?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, 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 Viettel Construction JSC stock attractive at the current price?
The data as of Nov 5, 2026: price 63,900 VND, calculated fair value 98,851 VND (+55%), Quality Score 63/100, from 26 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 CTR calculated?
We run Viettel Construction JSC through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 98,851 VND builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Viettel Construction JSC currently trades 35% 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 Viettel Construction JSC (CTR)?
The closing price on Nov 9, 2026 was 63,900 VND. Our model-based fair value is 98,851 VND, about +55% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Viettel Construction JSC right now?
The price is below even our cautious bear case (69,196 VND). The market is more pessimistic than our downside scenario. Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (69,196 VND to 128,506 VND) leaves room in how you read the outcome.
Key figures of Viettel Construction JSC
How large is the market capitalisation of Viettel Construction JSC (CTR)?
The market capitalisation of Viettel Construction JSC is 8.0T VND (≈ $314M). 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 Viettel Construction JSC (CTR)?
The price-to-sales ratio of Viettel Construction JSC is 0.51 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Viettel Construction JSC (CTR)?
Earnings per share at Viettel Construction JSC are 5,091 VND (price ÷ EPS = P/E 12.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Viettel Construction JSC (CTR)?
The net margin of Viettel Construction JSC is 4.1% (last twelve months). 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 Viettel Construction JSC (CTR)?
The return on equity (ROE) of Viettel Construction JSC is 30.3% (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 Viettel Construction JSC (CTR)?
On an EBIT basis the return on assets of Viettel Construction JSC is 9.9% (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 Viettel Construction JSC (CTR)?
The operating margin of Viettel Construction JSC is 5.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Viettel Construction JSC (CTR)?
Revenue at Viettel Construction JSC is growing +6.6% versus a year earlier (3y avg +13.8%). 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 Viettel Construction JSC (CTR)?
Earnings per share at Viettel Construction JSC are growing −0.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Viettel Construction JSC (CTR) carry?
The net debt of Viettel Construction JSC is 558B VND (fiscal year 2025, ≈ 0.5 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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Broad data
Nov 5, 2026