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Vietnam Rubber Group (GVR) Fair Value & Analysis

Basic Materials · VN · Market cap 119T VND

VR Vietnam Rubber Group GVR · VN
Price29,750 VND
Fair Value22,604 VND
Upside-24.0%
Quality72/100
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Healthy Growth
Solidly profitable · 19.8% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Moderate moat 60/100
Evidence: Medium Range 16,953 VND – 28,255 VND Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 21 days ago

Share price −5.6% over the past month.

A solid business, but screening 24% overvalued on our models.

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (28,255 VND). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

45,750 VND 9,596 VND Fair Value 22,604 VND Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 9,596 VND – 45,750 VND · fair‑value band 16,953 VND – 28,255 VND · the 29,750 VND price screens above the 22,604 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Vietnam Rubber Group (GVR) currently trades at 29,750 VND, while our model-based Fair Value estimate is 22,604 VND, implying the stock looks roughly 24.0% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Basic Materials 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, Vietnam Rubber Group generated revenue of 32.2T VND at a net margin of 19.8%. Revenue grew 55.8% year over year. It earns a return on equity of 11.4%. Net debt stands at 1.3T VND. Fundamentals as of Jul 19, 2026

Our scenario range runs from 16,953 VND (bear case) to 28,255 VND (bull case); at 29,750 VND, the current price sits above 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 36% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -24%, GVR 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 19,963 VND 32,072 VND 52,563 VND 80
Residual Income 12,412 VND 13,746 VND 21,353 VND 76
Rev-Margin DCF 14,916 VND 22,607 VND 31,823 VND 74
All 26 models by family
DCF Models
FCF DCF 19,718 VND 31,815 VND 51,969 VND 38
Owner Earnings 24,283 VND 39,440 VND 64,694 VND 31
5Y Revenue Exit 14,916 VND 22,565 VND 32,377 VND 39
5Y EBITDA Exit 19,509 VND 31,420 VND 45,585 VND 41
5Y P/E Exit 19,675 VND 31,740 VND 44,721 VND 38
10Y Revenue Exit 16,026 VND 23,643 VND 34,089 VND 36
10Y EBITDA Exit 19,430 VND 30,037 VND 44,699 VND 37
10Y P/E Exit 19,540 VND 30,268 VND 44,005 VND 35
Earnings-Based
Graham-Dodd 9,042 VND 32,294 VND 43,501 VND 54
Lynch FV 7,604 VND 10,863 VND 14,122 VND 50
PEG = 1.0 7,604 VND 10,863 VND 14,122 VND 46
EPV 12,856 VND 14,828 VND 16,581 VND 59
Dividend Discount
Gordon GGM 4,972 VND 10,854 VND 18,262 VND 70
DDM Multi-Stage 4,972 VND 8,891 VND 11,311 VND 61
Multiples
P/E Multiple 19,945 VND 26,593 VND 33,241 VND 63
P/S Multiple 13,630 VND 18,174 VND 22,717 VND 58
P/B Multiple 16,953 VND 22,604 VND 28,255 VND 55
EV/EBIT 18,444 VND 24,033 VND 29,622 VND 53
EV/EBITDA 21,349 VND 27,906 VND 34,463 VND 54
EV/Revenue 12,980 VND 17,823 VND 22,667 VND 43
Asset-Based
NCAV (Graham) 7,045 VND 9,440 VND 14,089 VND 50
Growth DCF
Growth DCF 19,963 VND 32,072 VND 52,563 VND 80
Rev-Margin DCF 14,916 VND 22,607 VND 31,823 VND 74
Economic Profit
Residual Income 12,412 VND 13,746 VND 21,353 VND 76
ROIC Compounder 12,856 VND 15,501 VND 20,320 VND 72
Growth Earnings
Growth-Adj P/E 14,138 VND 20,197 VND 26,256 VND 68

Widest divergence: DCF Models (30,268 VND) versus Dividend Discount (8,891 VND). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 32.2T VND
Revenue growth (YoY) +55.8%
Net margin 19.8%
Return on equity 11.4%
Free cash flow 5.8T VND FY2025
P/E ratio 19.6
More key figures
Operating margin 19.1%
EPS (TTM) 1,515 VND
EPS growth (YoY) +90.7%
Net debt 1.3T VND FY2024

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 70 · Market factors (momentum, volatility) 27

Profitability 40
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

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

Vietnam Rubber Group - Joint Stock Company, together with its subsidiaries, engages in the planting, tending, exploiting, processing, and trading of rubber in Vietnam and internationally.

Full company description

Vietnam Rubber Group - Joint Stock Company, together with its subsidiaries, engages in the planting, tending, exploiting, processing, and trading of rubber in Vietnam and internationally. It operates through seven segments: Rubber Latex Production and Trading; Production and Trading of Rubber Products; Wood Processing, Production, and Trading; Real Estate and Infrastructure Construction; Tourism, Restaurant, Hotel, and Related Services Business; Electricity Business; and Other Business Activities. The company produces, processes, and trades in natural rubber latex, rubber industrial products, and rubberwood products; invests in the construction, sale, and lease of real estate and industrial park infrastructure, as well as other real estate activities; and leases restaurants and hotels, as well as offers tourism and other related services. It also trades in commercial electricity; develops renewable energy sources, including solar, wind, and pumped storage hydropower; and provides consulting, construction, transportation, technical, agricultural, and other related services. In addition, the company engages in the exploitation and processing of forestry, industrial, and agricultural crops, as well as minerals; mixed farming; wholesale trading of fertilizers, pesticides, and other agricultural chemicals; import and export; construction of civil and irrigation works; and production of bricks and tiles. Further, it is involved in the research, training, and transfer of scientific and technological advances in the fields of agriculture and natural rubber; medical examination and treatment for workers; and journalism and printing. The company was founded in 1975 and is headquartered in Ho Chi Minh City, Vietnam.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vietnam Rubber Group reported revenue of 29.1T VND in FY2025 versus 26.2T VND in FY2021, a compound +2.7%/yr. Reported net income was 5.3T VND in FY2025, compounding +6.3%/yr from FY2021.

Growth Quality 78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
29.1T VND
Latest YoY
+10.8%
Avg. growth/yr (3Y)
+4.6%
Avg. growth/yr (5Y)
+6.6%
Avg. growth/yr (6Y)
+6.6%
Revenue +2.7%/yr
FY21 26.2T VND
FY22 25.4T VND
FY23 22.1T VND
FY24 26.2T VND
FY25 29.1T VND
Net income +6.3%/yr
FY21 4.2T VND
FY22 3.9T VND
FY23 2.6T VND
FY24 4.0T VND
FY25 5.3T VND

GVR screens 24% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Vietnam Rubber Group Fair Value". https://www.fairvalue-calculator.com/stock/GVR

Peer Group

Specialty Chemicals · 676 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.

Quality Score 72 · Top 25%
Fair Value upside −24% · Above median
Return on equity (TTM) 11% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 56% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 19.6× · Cheaper than median
P/B 2.11× · Pricier than median
P/S (TTM) 3.68× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 13.0× · Pricier than median

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.

VALUE 1 · sector 0
FUTURE 100 · sector 19
PAST 46 · sector 23
HEALTH 99 · sector 95
DIVIDEND 0 · sector 25

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Vietnam Rubber Group (GVR) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 22,604 VND versus a price of 29,750 VND, about −24% (overvalued).
What is the fair value of GVR?
Our model-based fair value for Vietnam Rubber Group is 22,604 VND (as of Jul 19, 2026), built from audited fundamentals. The current price is 29,750 VND.
What is the quality score of GVR?
Vietnam Rubber Group has a Quality Score of 72/100. 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 revenue of Vietnam Rubber Group (GVR)?
Vietnam Rubber Group reported trailing-twelve-month revenue of about 32.2T VND (latest available figure, as of Jul 19, 2026).
What is the net profit margin of GVR?
The net profit margin of Vietnam Rubber Group is about 19.8%, meaning it keeps roughly 19.8% of revenue as net income. Based on the latest reported figures.

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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