Dien Quang JSC (DQC) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Dien Quang JSC VND 14,816, price VND 9,520, upside +55.6%, quality 63 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 8,700 VND – 64,900 VND · the 9,520 VND price screens below the 14,816 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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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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Dien Quang Group Joint Stock Company provides electrical equipment and smart controls; and lighting products, services, and solutions in Vietnam and internationally. 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 9,520 VND, while our model-based Fair Value estimate is 14,816 VND, implying the stock looks roughly 35.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 19,158 VND per share, and 15 of the 22 models we run sit above the 9,520 VND price.
Bear case: the Growth Earnings group reads lowest at 1,958 VND, and 7 of the 22 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 63/100 (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 262B VND · P/E ratio 25.3 · P/S ratio 0.09 · EPS (TTM) 375.59 VND · Dividend yield 0.6% · Net margin 0.4% · Return on equity 1.5% · Return on assets (EBIT) −1.5%.
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 23% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −28% fair-value upside, at 56%, DQC screens cheaper than that median.
Fair Value models
Bear 14,816 VNDFair Value 14,816 VNDBull 14,816 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 (275.78 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.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.
−30.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−31.0%
Dividend (yield on the price)0.6%
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).
−12.3%
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 −15.8% 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 · 552 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+50% · Top 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets1% · Below median
Net margin (TTM)1% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth63% · Top 25%
Dividend yield (TTM)0.6% · Below median
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
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Is Dien Quang JSC (DQC) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 14,816 VND versus a price of 9,520 VND, about +56% upside (undervalued).
What is the fair value of DQC?
Our model-based fair value for Dien Quang JSC is 14,816 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 9,520 VND.
What is the quality score of DQC?
Dien Quang 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 Dien Quang JSC (DQC)?
Our model-based price target is the fair value of 14,816 VND (as of Sep 24, 2026) from 22 valuation models. 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 14,816 VND, about +56% upside versus a price of 9,520 VND (undervalued). 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 1.0T VND (latest available figure, as of Sep 24, 2026).
Does Dien Quang JSC pay a dividend?
Dien Quang JSC currently shows a dividend yield of about 0.57% relative to its recent price (as of Sep 24, 2026).
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 -12.3 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of DQC use?
Our models discount Dien Quang JSC at 12.4 %: a base by market capitalisation (nano), damped by beta 0.69, 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 -12.3 % per year a year over ten years, using the same discount rate (12.4 %) 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 -12.3 % 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 Dien Quang JSC (DQC) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Dien Quang JSC (-12.3 % 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 Dien Quang JSC (DQC)?
The free-cash-flow yield on the price is 25.26 %: that much free cash flow Dien Quang JSC produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), 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 14,816 VND per share (as of Sep 24, 2026), against a price of 9,520 VND. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Dien Quang JSC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, DQC trades below its calculated fair value: price 9,520 VND, fair value 14,816 VND, a gap of about +56% (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 (9,520 VND); the fair value is what the company's own numbers justify (14,816 VND). For Dien Quang JSC the two are 5,296 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 262B VND (market capitalisation, as of Sep 24, 2026). Per share that is 9,520 VND; our models calculate a fair value of 14,816 VND per share.
What is the P/E ratio of DQC?
Dien Quang JSC trades at a price-to-earnings ratio of 25.3 (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 14,816 VND is built from several models across several years. Other multiples: P/B 0.4, P/S 0.3, EV/EBITDA 5.1.
How solid is the balance sheet of Dien Quang JSC (DQC)?
Balance-sheet figures for Dien Quang JSC (as of Sep 24, 2026): return on equity 1.5%. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is DQC from its 52-week high?
Dien Quang JSC trades at 9,520 VND, about 23% below its 52-week high of 12,400 VND and 9% above the low of 8,700 VND (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 14,816 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, Prysmian 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 Dien Quang JSC stock attractive at the current price?
The data as of Sep 24, 2026: price 9,520 VND, calculated fair value 14,816 VND (+56%), Quality Score 63/100, from 22 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 22 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 14,816 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 13.0 % above its aggregate fair value. Dien Quang JSC currently trades 56 % 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 Sep 24, 2026 was 9,520 VND. Our model-based fair value is 14,816 VND, about +56% 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 (14,816 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 (63/100) 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 262B 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 Dien Quang JSC (DQC)?
The price-to-sales ratio of Dien Quang JSC is 0.09 (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 Dien Quang JSC (DQC)?
Earnings per share at Dien Quang JSC are 375.59 VND (price ÷ EPS = P/E 25.3). 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 0.6% (payout 14.3%). 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 0.4% (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 Dien Quang JSC (DQC)?
The return on equity (ROE) of Dien Quang JSC is 1.5% (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 2.9% (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 +63.4% 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 +250% 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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