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Viettel Construction Joint Stock Corporation (CTR) Fair Value & Analysis

Industrials · VN · Market cap 8.9T VND

VC Viettel Construction Joint Stock Corporation CTR · VN
Price77,100 VND
Fair Value93,089 VND
Upside+20.7%
Quality62/100
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Healthy Growth
Thin margins · 4.2% net margin
Low debt · generates free cash flow
Ranks above peers (11/14)
Moderate moat 51/100
Evidence: High Range 68,728 VND – 128,503 VND Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from 104,260 VND to 93,089 VND (−10.7%) since Jul 16, 2026. Share price +4.2% over the past month.

A solid business, screening 21% undervalued on our models.

What matters now

  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (68,728 VND to 128,503 VND) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

125,494 VND 27,425 VND Fair Value 93,089 VND Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 27,425 VND – 125,494 VND · fair‑value band 68,728 VND – 128,503 VND · the 77,100 VND price screens below the 93,089 VND fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Viettel Construction Joint Stock Corporation (CTR) currently trades at 77,100 VND, while our model-based Fair Value estimate is 93,089 VND, implying the stock looks roughly 20.7% undervalued today. The Quality Score stands at 62/100 (solid 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, Viettel Construction Joint Stock Corporation generated revenue of 15.0T VND at a net margin of 4.2%. Revenue grew 38.9% year over year. It earns a return on equity of 29.8%. Net debt stands at 558B VND. Fundamentals as of Jul 20, 2026

Our scenario range runs from 68,728 VND (bear case) to 128,503 VND (bull case); at 77,100 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 32% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 21%, CTR 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 130,058 VND 239,361 VND 445,110 VND 80
Residual Income 33,856 VND 46,755 VND 350,027 VND 76
Rev-Margin DCF 82,724 VND 132,665 VND 200,285 VND 74
All 24 models by family
DCF Models
FCF DCF 132,009 VND 253,438 VND 488,992 VND 38
Owner Earnings 75,435 VND 141,081 VND 267,720 VND 31
5Y Revenue Exit 82,724 VND 133,481 VND 202,432 VND 39
5Y EBITDA Exit 100,653 VND 172,078 VND 263,459 VND 41
5Y P/E Exit 94,573 VND 158,990 VND 234,361 VND 38
10Y Revenue Exit 95,414 VND 151,147 VND 237,925 VND 36
10Y EBITDA Exit 109,765 VND 180,815 VND 292,465 VND 37
10Y P/E Exit 105,567 VND 170,755 VND 266,461 VND 35
Earnings-Based
Graham-Dodd 31,832 VND 169,996 VND 235,488 VND 54
Lynch FV 46,924 VND 67,035 VND 87,145 VND 50
PEG = 1.0 46,924 VND 67,035 VND 87,145 VND 46
EPV 54,669 VND 62,660 VND 69,763 VND 59
Multiples
P/E Multiple 73,729 VND 98,305 VND 122,881 VND 63
P/S Multiple 59,685 VND 79,580 VND 99,475 VND 58
P/B Multiple 54,458 VND 72,611 VND 90,763 VND 55
EV/EBIT 82,469 VND 106,829 VND 131,190 VND 53
EV/EBITDA 92,271 VND 119,898 VND 147,526 VND 54
EV/Revenue 61,547 VND 83,902 VND 106,256 VND 43
Asset-Based
NCAV (Graham) 8,068 VND 10,811 VND 16,136 VND 50
Growth DCF
Growth DCF 130,058 VND 239,361 VND 445,110 VND 80
Rev-Margin DCF 82,724 VND 132,665 VND 200,285 VND 74
Economic Profit
Residual Income 33,856 VND 46,755 VND 350,027 VND 76
ROIC Compounder 58,781 VND 72,634 VND 88,838 VND 72
Growth Earnings
Growth-Adj P/E 69,194 VND 98,849 VND 128,503 VND 68

Widest divergence: DCF Models (158,990 VND) versus Asset-Based (10,811 VND). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 15.0T VND
Revenue growth (YoY) +38.9%
Net margin 4.2%
Return on equity 29.8%
Free cash flow 1.1T VND FY2025
P/E ratio 14.2
More key figures
Operating margin 5.0%
EPS (TTM) 4,900 VND
EPS growth (YoY) +23.2%
Net debt 558B VND FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 62 · Market factors (momentum, volatility) 50

Profitability 60
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 68
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 38
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

Viettel Construction Joint Stock Corporation, together with its subsidiaries, engages in the construction business in Vietnam and internationally.

Full company description

Viettel Construction Joint Stock Corporation, together with its subsidiaries, engages in the construction business in Vietnam and internationally. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Viettel Construction Joint Stock Corporation 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.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
13.9T VND
Latest YoY
+10.5%
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.
+13.8%
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.
+17.0%
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.
+18.2%
Revenue +17.0%/yr
FY21 7.4T VND
FY22 9.5T VND
FY23 11.4T VND
FY24 12.6T VND
FY25 13.9T VND
Net income +12.4%/yr
FY21 375B VND
FY22 455B VND
FY23 525B VND
FY24 538B VND
FY25 600B VND

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Cite: Fair Value Calculator (2026). "Viettel Construction Joint Stock Corporation Fair Value". https://www.fairvalue-calculator.com/stock/CTR

Peer Group

Engineering & Construction · 839 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 62 · Top 25%
Fair Value upside +21% · Above median
Return on equity (TTM) 30% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth 39% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 14.2× · Cheaper than median
P/B 4.31× · Pricier than 75% of peers
P/S (TTM) 0.59× · Cheaper than median
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 61 · sector 16
FUTURE 100 · sector 17
PAST 100 · sector 26
HEALTH 88 · sector 94
DIVIDEND 0 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Viettel Construction Joint Stock Corporation (CTR) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 93,089 VND versus a price of 77,100 VND, about +21% (undervalued).
What is the fair value of CTR?
Our model-based fair value for Viettel Construction Joint Stock Corporation is 93,089 VND (as of Jul 20, 2026), built from audited fundamentals. The current price is 77,100 VND.
What is the quality score of CTR?
Viettel Construction Joint Stock Corporation has a Quality Score of 62/100. 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 Viettel Construction Joint Stock Corporation (CTR)?
Viettel Construction Joint Stock Corporation reported trailing-twelve-month revenue of about 15.0T VND (latest available figure, as of Jul 20, 2026).
What is the net profit margin of CTR?
The net profit margin of Viettel Construction Joint Stock Corporation is about 4.2%, meaning it keeps roughly 4.2% 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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