GELEX Group (GEX) Fair Value & Analysis
Industrials · VN · Market cap 33.8T VND
Fair value as of: Jul 18, 2026
From 16 valuation models · updated 22 days ago
Fair value updated Jul 18, 2026, revised from 18,561 VND to 22,928 VND (+23.5%) since Jul 16, 2026. Share price −15.1% over the past month.
Below-average quality, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range (15,711 VND to 28,660 VND) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range 6,980 VND – 45,103 VND · fair‑value band 15,711 VND – 28,660 VND · the 24,550 VND price screens above the 22,928 VND fair value. Dashed = 300-day average. As of Jul 18, 2026.
Analysis
GELEX Group (GEX) currently trades at 24,550 VND, while our model-based Fair Value estimate is 22,928 VND, implying the stock looks roughly 6.6% fairly valued today. The Quality Score stands at 31/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, GELEX Group generated revenue of 42.3T VND at a net margin of 3.5%. Revenue grew 35.4% year over year. It earns a return on equity of 10.6%. Net debt stands at 20.1T VND. Fundamentals as of Jul 18, 2026
Our scenario range runs from 15,711 VND (bear case) to 28,660 VND (bull case); at 24,550 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 46% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -7%, GEX 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.
All 16 models by family
Widest divergence: Dividend Discount (29,952 VND) versus Asset-Based (8,819 VND). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 29 · Market factors (momentum, volatility) 21
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
GELEX Group Joint Stock Company primarily engages in the production and sale of electrical equipment principally in Vietnam. The company operates through Industrial Production, Real Estate, and Infrastructure segments. It also offers power cables, transformers, and electrical measuring equipment.
Full company description
GELEX Group Joint Stock Company primarily engages in the production and sale of electrical equipment principally in Vietnam. The company operates through Industrial Production, Real Estate, and Infrastructure segments. It also offers power cables, transformers, and electrical measuring equipment. In addition, the company invests and develops in sectors, such as energy, industrial real estate, affordable housing, worker housing, mid-range residential projects, and social housing; and invests and operates hydropower, solar power, rooftop solar power, and wind power energy projects. Further, it offers building materials, such as sanitary ceramics, shower faucet, autoclaved aerated concrete, sintered stone, ceramic tiles, energy-saving glass, and clear glass, as well as produces and supplies water. Additionally, the company is involved in the development of various infrastructure projects, including transportation, urban infrastructure, energy, and telecommunication. It operates under the CADIVI, EMIC, THIBIDI, HEM, CFT, MEE, Viglacera, and Song Da Clean Water brands. The company was formerly known as Vietnam Electrical Equipment Joint Stock Corporation. GELEX Group Joint Stock Company was founded in 1990 and is headquartered in Hanoi, Vietnam.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
GELEX Group reported revenue of 39.5T VND in FY2025 versus 28.6T VND in FY2021, a compound +8.4%/yr. Reported net income was 1.5T VND in FY2025, compounding +9.2%/yr from FY2021.
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Peer Group
Electrical Equipment & Parts · 528 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.
Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Contemporary Amperex Technology Co 3750 | HK$675.50 | HK$391.44 | -42% |
| ABB Ltd ABBN | CHF 83.82 | CHF 35.46 | -58% |
| Delta Electronics (Thailand) Public Company TDED | 10.16 SGD | 1.47 SGD | -86% |
| LG Energy Solution, Ltd 373220 | 334,000 KRW | 201,455 KRW | -40% |
| WEG S.A WEGE3 | 13,210 ARS | 7,948 ARS | -40% |
| Sungrow Power Supply Co 300274 | ¥114.79 | ¥123.83 | +8% |
| Shenzhen Inovance Technology Co 300124 | ¥63.43 | ¥33.04 | -48% |
| HD Hyundai Electric Co 267260 | 823,000 KRW | 371,133 KRW | -55% |
| LS ELECTRIC Co 010120 | 190,000 KRW | 31,517 KRW | -83% |
| Sieyuan Electric Co 002028 | ¥151.73 | ¥71.69 | -53% |
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Frequently asked questions
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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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