EVN Finance JSC (EVF) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of EVN Finance JSC VND 11,038, price VND 11,650, upside -5.3%, quality 53 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
17‑month range 8,490 VND – 16,250 VND · fair‑value band 8,278 VND – 13,797 VND · the 11,650 VND price screens above the 11,038 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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EVF General Finance Joint Stock Company provides financial services in Vietnam.
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EVF General Finance Joint Stock Company provides financial services in Vietnam. The company offers capital mobilization, including receiving deposits; issuing certificates of deposits, promissory notes, bills, and bonds; borrowing from domestic and foreign financial organizations and credit institutions under regulations; and receiving refinancing loans from the SBV. It is also involved in credit activities, such as loans and consumer loans; and discounting and re-discounting commercial papers, negotiable instruments, and other valuable papers, securities. In addition, the company engages in other finance and banking activities comprising opening and managing deposit and credit accounts; contributing capital and purchasing shares; providing insurance agency and consulting, asset management, safekeeping services; and trading in government bonds, foreign exchange trading, and buying and selling debts. Further, it provides valuable papers repurchase transactions; guarantee services; loans for employees in the electricity sector. The company serves personal and corporate customers, and financial institutions. EVF General Finance Joint Stock Company was incorporated in 2008 and is headquartered in Hanoi, Vietnam.
Stock analysis
EVN Finance JSC (EVF) currently trades at 11,650 VND, while our model-based Fair Value estimate is 11,038 VND, implying the stock looks roughly 5.6% fairly valued today.
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Valuation
How firm this estimate is: it rests on 19 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: 8,278 VND (bear) to 13,797 VND (bull), the price of 11,650 VND sits inside 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 53/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
EVN Finance JSC reported revenue of 2.1T VND in FY2025 versus 1.1T VND in FY2021, a compound +17.1%/yr. Reported net income was 854B VND in FY2025, compounding +26.8%/yr from FY2021.
Key figures
Market cap 8.9T VND · P/E ratio 9.7 · P/S ratio 3.89 · EPS (TTM) 1,206 VND · Net margin 40.2% · Return on equity 9.5% · Return on assets 1.3% · Operating margin 70.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −25% fair-value upside, at −5%, EVF screens cheaper than that median.
Fair Value models
Bear 8,278 VNDFair Value 11,038 VNDBull 13,797 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 (885.16 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 growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+53.9%
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.
+20.5%
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.
+22.1%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 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 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. 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.
+30.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+30.2%
Dividend (yield on the price)0.0%
2025 sits 60% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's 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.Financial Conglomerates · 57 stocks
Beats the industry median on 8/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−4% · Above median
Profitability
Return on equity (TTM)9% · Above median
Return on assets1% · Below median
Net margin (TTM)52% · Top 25%
Operating margin (TTM)71% · Top 25%
Growth and dividend
Revenue growth11% · Above median
Valuation Multiplesvs Financial Conglomerates median · lower = cheaper
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Is EVN Finance JSC (EVF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 11,038 VND versus a price of 11,650 VND, about −5% upside (fairly valued).
What is the fair value of EVF?
Our model-based fair value for EVN Finance JSC is 11,038 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 11,650 VND.
What is the quality score of EVF?
EVN Finance JSC has a Quality Score of 53/100. 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 EVN Finance JSC (EVF)?
Our model-based price target is the fair value of 11,038 VND (as of Sep 24, 2026) from 2 valuation models. Cautious scenario 8,278 VND, optimistic scenario 13,797 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the EVN Finance JSC stock forecast for 2026?
Our models put fair value at 11,038 VND, about −5% upside versus a price of 11,650 VND (fairly valued). Cautious scenario 8,278 VND, optimistic scenario 13,797 VND. The calculation is refreshed regularly with new filings.
What is the revenue of EVN Finance JSC (EVF)?
EVN Finance JSC reported trailing-twelve-month revenue of about 1.8T VND (latest available figure, as of Sep 24, 2026).
What growth is priced into EVN Finance JSC (EVF)?
For today's price to be fair in a discounted-cash-flow model, EVN Finance JSC would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 13.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of EVF use?
Our models discount EVN Finance JSC at 13.4 %: a base by market capitalisation (small), damped by beta 0.30, 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 EVN Finance JSC that is less than minus 40 % per year a year over ten years, using the same discount rate (13.4 %) and the same formula as our fair value.
How much growth has EVN Finance JSC (EVF) delivered so far?
Over the past 5 years revenue at EVN Finance JSC grew +22.1 % a year. The price currently implies less than minus 40 % 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 EVN Finance JSC (EVF) growing?
The median revenue growth in the sector is +10.9 % a year. That is the yardstick for the growth priced into EVN Finance JSC (less than minus 40 % 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 EVN Finance JSC (EVF)?
The free-cash-flow yield on the price is 15.29 %: that much free cash flow EVN Finance JSC produces per unit of market value. When it exceeds the discount rate of our models (13.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EVN Finance JSC (EVF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EVN Finance JSC it is 11,038 VND per share (as of Sep 24, 2026), against a price of 11,650 VND. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is EVN Finance JSC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, EVF trades above its calculated fair value: price 11,650 VND, fair value 11,038 VND, a gap of about −5% (fairly valued). 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 EVF?
No. The price is what the market pays today (11,650 VND); the fair value is what the company's own numbers justify (11,038 VND). For EVN Finance JSC the two are 612.37 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is EVN Finance JSC worth?
The market values EVN Finance JSC at about 8.9T VND (market capitalisation, as of Sep 24, 2026). Per share that is 11,650 VND; our models calculate a fair value of 11,038 VND per share.
What do the bullish and bearish scenarios say about EVF?
Our models span a range for EVN Finance JSC: cautious scenario 8,278 VND, base 11,038 VND, optimistic 13,797 VND per share (as of Sep 24, 2026, price 11,650 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EVF?
EVN Finance JSC trades at a price-to-earnings ratio of 9.7 (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 11,038 VND is built from several models across several years. Other multiples: P/B 1.0, P/S 5.3.
How solid is the balance sheet of EVN Finance JSC (EVF)?
Balance-sheet figures for EVN Finance JSC (as of Sep 24, 2026): return on equity 9.5%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is EVF from its 52-week high?
EVN Finance JSC trades at 11,650 VND, about 23% below its 52-week high of 15,100 VND and 8% above the low of 10,750 VND (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 11,038 VND is for.
Which stocks are comparable to EVN Finance JSC?
From the same area (Financial Services) we also value ORIX Corporation, Bajaj Finserv Ltd, Yuanta Financial Holding, China Galaxy Securities Co, 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 EVN Finance JSC stock attractive at the current price?
The data as of Sep 24, 2026: price 11,650 VND, calculated fair value 11,038 VND (−5%), Quality Score 53/100, from 2 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 EVF calculated?
We run EVN Finance JSC through 2 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 11,038 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. EVN Finance JSC itself currently trades above fair value. 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 EVN Finance JSC (EVF)?
The closing price on Sep 24, 2026 was 11,650 VND. Our model-based fair value is 11,038 VND, about −5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EVN Finance JSC right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of EVN Finance JSC
How large is the market capitalisation of EVN Finance JSC (EVF)?
The market capitalisation of EVN Finance JSC is 8.9T 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 EVN Finance JSC (EVF)?
The price-to-sales ratio of EVN Finance JSC is 3.89 (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 EVN Finance JSC (EVF)?
Earnings per share at EVN Finance JSC are 1,206 VND (price ÷ EPS = P/E 9.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of EVN Finance JSC (EVF)?
The net margin of EVN Finance JSC is 40.2% (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 EVN Finance JSC (EVF)?
The return on equity (ROE) of EVN Finance JSC is 9.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of EVN Finance JSC (EVF)?
The return on assets (ROA) of EVN Finance JSC is 1.3% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of EVN Finance JSC (EVF)?
The operating margin of EVN Finance JSC is 70.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EVN Finance JSC (EVF)?
Revenue at EVN Finance JSC is growing +11.1% versus a year earlier (3y avg +20.5%). 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 EVN Finance JSC (EVF)?
Earnings per share at EVN Finance JSC are growing +10.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does EVN Finance JSC (EVF) carry?
The net debt of EVN Finance JSC is 42.0T VND (fiscal year 2025, ≈ 31.0 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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