Development Investment Construction JSC (DIG) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Development Investment Construction JSC VND 21,144, price VND 9,830, upside +115.1%, quality 48 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 8,239 VND – 80,101 VND · fair‑value band 13,523 VND – 33,136 VND · the 9,830 VND price screens below the 21,144 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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Development Investment Construction Joint Stock Corporation, together with its subsidiaries, engages in real estate, construction, and service sectors in Vietnam.
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Development Investment Construction Joint Stock Corporation, together with its subsidiaries, engages in real estate, construction, and service sectors in Vietnam. The company invests and develops new urban areas and industrial zones; invests, trades, and develops real estate and technical infrastructure of urban areas, transportation construction, and irrigation; management consulting activities; education activities; care and nursing activities; investment in industrial park; gold course and related services business; and construction of other civil and engineering works. It is also involved in investment, construction, and management operation of apartment buildings; manufacturing of plastic doors and high-end wooden doors; exploitation of stone, sand, gravel, and clay; production of commercial fresh concrete and prefabricated concrete structures, as well as construction stone, terrazzo tiles, block bricks, tunnel bricks, and clay. In addition, the company engages in the production and trade of ceramic tiles; mining business; trading building materials, and interior and exterior decorations; export of clinker, cement, limestone, wood pellets, and rubber; and import of gypsum, steel, round wood, and slag. Further, it is involved in travel services, passenger transportation, and hotel business; luxury tourism apartment and tourism business; house trading; real estate brokerage; and real estate services, real estate management, and property auction. The company was formerly known as Development Investment Construction Corporation and changed its name to Development Investment Construction Joint Stock Corporation in January 2008. Development Investment Construction Joint Stock Corporation was founded in 1990 and is headquartered in Vung Tàu, Vietnam.
Stock analysis
Development Investment Construction JSC (DIG) currently trades at 9,830 VND, while our model-based Fair Value estimate is 21,144 VND, implying the stock looks roughly 53.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 40,367 VND per share, and 12 of the 16 models we run sit above the 9,830 VND price.
Bear case: the Asset-Based group reads lowest at 8,390 VND, and 4 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 13,523 VND (bear) to 33,136 VND (bull), the price of 9,830 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 48/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Development Investment Construction JSC reported revenue of 4.7T VND in FY2025 versus 2.6T VND in FY2021, a compound +16.4%/yr. Reported net income was 646B VND in FY2025, compounding −10.0%/yr from FY2021.
Key figures
Market cap 9.5T VND · P/E ratio 9.5 · P/S ratio 1.31 · EPS (TTM) 1,030 VND · Dividend yield 0.0% · Net margin 13.7% · Return on equity 7.1% · Return on assets (EBIT) 2.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at 115%, DIG screens cheaper than that median.
Fair Value models
Bear 13,523 VNDFair Value 21,144 VNDBull 33,136 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 (755.98 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.95/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+262.6%
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.
+35.5%
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.
+13.7%
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.
+14.3%
’19
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’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.
−15.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.7%
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.13% → 18%
2025 sits 342% 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).
−11.4%
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 −14.9% a year for the price.
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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.Real Estate - Development · 577 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Above median
Fair Value upside+113% · Top 25%
Profitability
Return on equity (TTM)7% · Above median
Return on assets3% · Above median
Net margin (TTM)14% · Above median
Operating margin (TTM)−14% · Bottom 25%
Growth and dividend
Revenue growth−5% · Below median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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). "Development Investment Construction JSC Fair Value". https://www.fairvalue-calculator.com/stock/DIG
Frequently asked questions
Is Development Investment Construction JSC (DIG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 21,144 VND versus a price of 9,830 VND, about +115% upside (undervalued).
What is the fair value of DIG?
Our model-based fair value for Development Investment Construction JSC is 21,144 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 9,830 VND.
What is the quality score of DIG?
Development Investment Construction JSC has a Quality Score of 48/100. 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 Development Investment Construction JSC (DIG)?
Our model-based price target is the fair value of 21,144 VND (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 13,523 VND, optimistic scenario 33,136 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Development Investment Construction JSC stock forecast for 2026?
Our models put fair value at 21,144 VND, about +115% upside versus a price of 9,830 VND (undervalued). Cautious scenario 13,523 VND, optimistic scenario 33,136 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Development Investment Construction JSC (DIG)?
Development Investment Construction JSC reported trailing-twelve-month revenue of about 4.7T VND (latest available figure, as of Sep 24, 2026).
Does Development Investment Construction JSC pay a dividend?
Development Investment Construction JSC currently shows a dividend yield of about 0.02% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Development Investment Construction JSC (DIG)?
For today's price to be fair in a discounted-cash-flow model, Development Investment Construction JSC would have to grow free cash flow by -11.4 % per year for five years (discount rate 14.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of DIG use?
Our models discount Development Investment Construction JSC at 14.3 %: a base by market capitalisation (small), damped by beta 0.83, 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 Development Investment Construction JSC that is -11.4 % per year a year over ten years, using the same discount rate (14.3 %) and the same formula as our fair value.
How much growth has Development Investment Construction JSC (DIG) delivered so far?
Over the past 5 years revenue at Development Investment Construction JSC grew +13.7 % a year. The price currently implies -11.4 % 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 Development Investment Construction JSC (DIG) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Development Investment Construction JSC (-11.4 % 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 Development Investment Construction JSC (DIG)?
The free-cash-flow yield on the price is 20.15 %: that much free cash flow Development Investment Construction JSC produces per unit of market value. When it exceeds the discount rate of our models (14.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Development Investment Construction JSC (DIG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Development Investment Construction JSC it is 21,144 VND per share (as of Sep 24, 2026), against a price of 9,830 VND. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Development Investment Construction JSC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, DIG trades below its calculated fair value: price 9,830 VND, fair value 21,144 VND, a gap of about +115% (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 DIG?
No. The price is what the market pays today (9,830 VND); the fair value is what the company's own numbers justify (21,144 VND). For Development Investment Construction JSC the two are 11,314 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Development Investment Construction JSC worth?
The market values Development Investment Construction JSC at about 9.5T VND (market capitalisation, as of Sep 24, 2026). Per share that is 9,830 VND; our models calculate a fair value of 21,144 VND per share.
What do the bullish and bearish scenarios say about DIG?
Our models span a range for Development Investment Construction JSC: cautious scenario 13,523 VND, base 21,144 VND, optimistic 33,136 VND per share (as of Sep 24, 2026, price 9,830 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DIG?
Development Investment Construction JSC trades at a price-to-earnings ratio of 9.5 (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 21,144 VND is built from several models across several years. Other multiples: P/B 1.0, P/S 2.0, EV/EBITDA 7.7.
How solid is the balance sheet of Development Investment Construction JSC (DIG)?
Balance-sheet figures for Development Investment Construction JSC (as of Sep 24, 2026): return on equity 7.1%, debt of 0.09 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is DIG from its 52-week high?
Development Investment Construction JSC trades at 9,830 VND, about 58% below its 52-week high of 23,208 VND and 8% above the low of 9,142 VND (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 21,144 VND is for.
Which stocks are comparable to Development Investment Construction JSC?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, 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 Development Investment Construction JSC stock attractive at the current price?
The data as of Sep 24, 2026: price 9,830 VND, calculated fair value 21,144 VND (+115%), Quality Score 48/100, from 16 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 DIG calculated?
We run Development Investment Construction JSC through 16 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 21,144 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 13.2 % above its aggregate fair value. Development Investment Construction JSC currently trades 115 % 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 Development Investment Construction JSC (DIG)?
The closing price on Sep 24, 2026 was 9,830 VND. Our model-based fair value is 21,144 VND, about +115% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Development Investment Construction JSC right now?
The price is below even our cautious bear case (13,523 VND). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (13,523 VND to 33,136 VND) leaves room in how you read the outcome.
Key figures of Development Investment Construction JSC
How large is the market capitalisation of Development Investment Construction JSC (DIG)?
The market capitalisation of Development Investment Construction JSC is 9.5T 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 Development Investment Construction JSC (DIG)?
The price-to-sales ratio of Development Investment Construction JSC is 1.31 (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 Development Investment Construction JSC (DIG)?
Earnings per share at Development Investment Construction JSC are 1,030 VND (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Development Investment Construction JSC (DIG)?
The dividend yield of Development Investment Construction JSC is 0.0% (payout 0.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Development Investment Construction JSC (DIG)?
The net margin of Development Investment Construction JSC is 13.7% (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 Development Investment Construction JSC (DIG)?
The return on equity (ROE) of Development Investment Construction JSC is 7.1% (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 Development Investment Construction JSC (DIG)?
On an EBIT basis the return on assets of Development Investment Construction JSC is 2.2% (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 Development Investment Construction JSC (DIG)?
The operating margin of Development Investment Construction JSC is −13.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Development Investment Construction JSC (DIG)?
Revenue at Development Investment Construction JSC is growing −5.4% versus a year earlier (3y avg +35.5%). 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 Development Investment Construction JSC (DIG)?
Earnings per share at Development Investment Construction JSC are growing +309% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Development Investment Construction JSC (DIG) carry?
The net debt of Development Investment Construction JSC is 3.1T VND (fiscal year 2024, ≈ 1.9 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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