Dien Quang JSC (DQC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Dien Quang JSC stock VND 13,277, price VND 9,250, upside +43.5%, quality 65 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 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 7, 2026.
How to read this chart
60‑month range 8,242 VND – 58,507 VND · fair‑value band 11,627 VND – 14,767 VND · the 9,250 VND price screens below the 13,277 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Dien Quang Group Joint Stock Company provides electrical equipment and smart controls; and lighting products, services, and solutions in Vietnam and internationally.
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The company manufactures and trades in various types of light bulbs, ballasts, starters, electrical wires, lighting equipment, glass tubes, and other glass products; and trades in raw materials, supplies, spare parts for lighting equipment, civil and industrial equipment, and chemicals.
It also provides commercial brokerage; vocational training; and travel services.
In addition, the company engages in consulting, construction, and maintenance of electrical systems and lighting systems in industrial and civil works; and medium and low-voltage electrical, public lighting, industrial and civil works, refrigeration, fire prevention and fighting and water supply and drainage, automated electrical, and information electrical systems.
Further, it undertakes civil, industrial, and infrastructure works; engages in consulting, designing, and constructing of information technology infrastructure; installs electrical systems; and provides interior decoration design services, as well as electronic components and devices.
The company was formerly known as Dien Quang Lamp Joint Stock Company and changed its name to Dien Quang Group Joint Stock Company in May 2023. Dien Quang Group Joint Stock Company was founded in 1973 and is headquartered in Ho Chi Minh City, Vietnam.
Stock analysis
Dien Quang JSC (DQC) currently trades at 9,250 VND, while our model-based Fair Value estimate is 13,277 VND, implying the stock looks roughly 30% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 17,616 VND per share, and 14 of the 24 models we run sit above the 9,250 VND price.
Bear case: the Growth Earnings group reads lowest at 1,958 VND, and 10 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: 11,627 VND (bear) to 14,767 VND (bull), the price of 9,250 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 65/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Dien Quang JSC reported revenue of 920B VND in FY2025 versus 734B VND in FY2021, a compound +5.8%/yr. Reported net income was 3.4B VND in FY2025, compounding −37.1%/yr from FY2021.
Key figures
Market cap 255B VND (≈ $10.0M) Micro · P/E ratio 15.7 · P/S ratio 0.32 · EPS (TTM) 588.06 VND · Dividend yield 5.4% · Net margin 1.8% · Return on equity 2.9% · Return on assets (EBIT) −1.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at 44%, DQC screens cheaper than that median.
Fair Value models
Bear11,627 VNDFair Value 13,277 VNDBull14,767 VND
Price 9,250 VND · Upside +43.5%
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 (75.51 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+13.0%
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.
−2.4%
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.
−0.4%
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.
+1.8%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 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 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. 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.
−25.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−31.0%
Dividend (yield on the price)5.4%
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.−1% → 2%
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).
−12.9%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −16.3% 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.Electrical Equipment & Parts · 564 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+43.5% · Top 25%
Profitability
Return on equity (12 months)2.9% · Below median
Return on assets0.4% · Below median
Net margin (12 months)2.6% · Below median
Operating margin (12 months)2.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.2% · Below median
Dividend yield (12 months)5.4% · Top 25%
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
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Is Dien Quang JSC (DQC) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 13,277 VND versus a price of 9,250 VND, about +44% upside (undervalued).
What is the fair value of DQC?
Our model-based fair value for Dien Quang JSC is 13,277 VND (as of Nov 7, 2026), built from audited fundamentals. The current price: 9,250 VND.
What is the quality score of DQC?
Dien Quang JSC has a Quality Score of 65/100. 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 Dien Quang JSC (DQC)?
Our model-based price target is the fair value of 13,277 VND (as of Nov 7, 2026) from 24 valuation models. Cautious scenario 11,627 VND, optimistic scenario 14,767 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Dien Quang JSC stock forecast for 2026?
Our models put fair value at 13,277 VND, about +44% upside versus a price of 9,250 VND (undervalued). Cautious scenario 11,627 VND, optimistic scenario 14,767 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Dien Quang JSC (DQC)?
Dien Quang JSC reported trailing-twelve-month revenue of about 1.1T VND (latest available figure, as of Nov 7, 2026).
Does Dien Quang JSC pay a dividend?
Dien Quang JSC currently shows a dividend yield of 5.41% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Dien Quang JSC (DQC) and when is the ex-dividend date?
Dien Quang JSC pays a dividend of 500.00 VND per share a year, a dividend yield of 5.4%. The last ex-dividend date was Aug 14, 2026. The payout ratio is 85.0% of earnings. Free cash flow covers the dividend 4.81 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Dien Quang JSC (DQC)?
For today's price to be fair in a discounted-cash-flow model, Dien Quang JSC would have to grow free cash flow by -12.9 % per year for five years (discount rate 12.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.4 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of DQC use?
Our models discount Dien Quang JSC at 12.3 %: a base by market capitalisation (nano), damped by beta 0.68, 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 Dien Quang JSC that is -12.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.3 %) and the same formula as our fair value.
How much growth has Dien Quang JSC (DQC) delivered so far?
Over the past 5 years revenue at Dien Quang JSC grew -0.4 % a year. The price currently implies free-cash-flow growth of -12.9 % 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 Dien Quang JSC (DQC) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Dien Quang JSC (-12.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dien Quang JSC (DQC)?
The free-cash-flow yield on the price is 26.00 %: that much free cash flow Dien Quang JSC produces per unit of market value. When it exceeds the discount rate of our models (12.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dien Quang JSC (DQC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dien Quang JSC it is 13,277 VND per share (as of Nov 7, 2026), against a price of 9,250 VND. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Dien Quang JSC stock overvalued or undervalued in 2026?
As of Nov 7, 2026, DQC trades below its calculated fair value: price 9,250 VND, fair value 13,277 VND, a gap of about +44% (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 DQC?
No. The price is what the market pays today (9,250 VND); the fair value is what the company's own numbers justify (13,277 VND). For Dien Quang JSC the two are 4,027 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Dien Quang JSC worth?
The market values Dien Quang JSC at about 255B VND (market capitalisation, as of Nov 7, 2026). Per share that is 9,250 VND; our models calculate a fair value of 13,277 VND per share.
What do the bullish and bearish scenarios say about DQC?
Our models span a range for Dien Quang JSC: cautious scenario 11,627 VND, base 13,277 VND, optimistic 14,767 VND per share (as of Nov 7, 2026, price 9,250 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DQC?
Dien Quang JSC trades at a price-to-earnings ratio of 15.7 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 13,277 VND is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2019 to 2025), reported earnings: 34.0. Other multiples: P/B 0.3, P/S 0.3, EV/EBITDA 4.1.
How solid is the balance sheet of Dien Quang JSC (DQC)?
Balance-sheet figures for Dien Quang JSC (as of Nov 7, 2026): return on equity 2.9%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is DQC from its 52-week high?
Dien Quang JSC trades at 9,250 VND, about 21% below its 52-week high of 11,747 VND and 12% above the low of 8,242 VND (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 13,277 VND is for.
Which stocks are comparable to Dien Quang JSC?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, 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 Dien Quang JSC stock attractive at the current price?
The data as of Nov 7, 2026: price 9,250 VND, calculated fair value 13,277 VND (+44%), Quality Score 65/100, from 24 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 DQC calculated?
We run Dien Quang JSC through 24 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 13,277 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. Dien Quang JSC currently trades 30% 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 Dien Quang JSC (DQC)?
The closing price on Nov 6, 2026 was 9,250 VND. Our model-based fair value is 13,277 VND, about +44% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dien Quang JSC right now?
The price is below even our cautious bear case (11,627 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 (65/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Dien Quang JSC
How large is the market capitalisation of Dien Quang JSC (DQC)?
The market capitalisation of Dien Quang JSC is 255B VND (≈ $10.0M). 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 Dien Quang JSC (DQC)?
The price-to-sales ratio of Dien Quang JSC is 0.32 (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 Dien Quang JSC (DQC)?
Earnings per share at Dien Quang JSC are 588.06 VND (price ÷ EPS = P/E 15.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Dien Quang JSC (DQC)?
The dividend yield of Dien Quang JSC is 5.4% (payout 85.0%). 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 Dien Quang JSC (DQC)?
The net margin of Dien Quang JSC is 1.8% (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 Dien Quang JSC (DQC)?
The return on equity (ROE) of Dien Quang JSC is 2.9% (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 Dien Quang JSC (DQC)?
On an EBIT basis the return on assets of Dien Quang JSC is −1.5% (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 Dien Quang JSC (DQC)?
The operating margin of Dien Quang JSC is 2.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dien Quang JSC (DQC)?
Revenue at Dien Quang JSC is growing +7.2% versus a year earlier (3y avg −2.4%). 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 Dien Quang JSC (DQC)?
Earnings per share at Dien Quang JSC are growing +9.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dien Quang JSC (DQC) carry?
The net debt of Dien Quang JSC is 49.6B VND (fiscal year 2025, ≈ 0.7 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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Thin data
Nov 7, 2026