Hoa Phat Group JSC (HPG) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hoa Phat Group JSC VND 26,745, price VND 21,050, upside +27.1%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Hoa Phat Group JSC
HPG · VNSpeculativeUpside exists, but weak quality makes the signal speculative.
What runs behind every stock
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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 8,184 VND – 29,542 VND · fair‑value band 18,722 VND – 34,769 VND · the 21,050 VND price screens below the 26,745 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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Company profile
Hoa Phat Group Joint Stock Company produces and sells steel products in Vietnam.
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Hoa Phat Group Joint Stock Company produces and sells steel products in Vietnam. It engages in financial investments; integrated investment in construction; exploration and exploitation of minerals, metal ores, sand, stones, and gravel; production of cast iron, steel, structural metal products, tanks, reservoirs, containers, plated and non-plated steel pipes, inox pipes, rolled steel, roofing sheets, galvanized steel sheets, color coated steel sheets, and galvalum steel sheets; production and trading of non-ferrous metals and metal scraps; trading and import-export of steel, iron, metals, metal ores, and steel-making supplies; mechanical processing, metal treatment, and coating; production, trading, and assembly of construction and mining machinery; leasing machines, equipment, and motor vehicles; dealing in automobiles, motorcycles, transport vehicles, and parts for transport and mining sectors; production, trading, assembly, installation, repair, and maintenance of electrical, electronic, optical, medical, household, and civil electrical appliances; manufacturing and trading of air-conditioners, refrigeration products, freezers, and refrigerators; production and trading of plastic products; civil and industrial construction; and construction of railway works. it is also involved in domestic and foreign investment advisory; advertising; general support services; raising livestock; provision of livestock raising services; processing and preserving of meat and meat products; production of animal feeds for cattle, poultry, and aquaculture; production of fertilizers and nitrogen compounds; trading agricultural equipment, machinery, and accessories; restaurants and mobile food service activities; provision of catering services; beverage serving services; coastal, inland waterway, and ocean transportation; and entrusted export-import activities. Hoa Phat Group Joint Stock Company was founded in 1992 and is headquartered in Hung Yen, Vietnam.
Stock analysis
Hoa Phat Group JSC (HPG) currently trades at 21,050 VND, while our model-based Fair Value estimate is 26,745 VND, implying the stock looks roughly 21.3% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 40,248 VND per share, and 10 of the 16 models we run sit above the 21,050 VND price.
Bear case: the Asset-Based group reads lowest at 10,251 VND, and 6 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 18,722 VND (bear) to 34,769 VND (bull), the price of 21,050 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 31/100 (below-average quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hoa Phat Group JSC reported revenue of 156T VND in FY2025 versus 150T VND in FY2021, a compound +1.1%/yr. Reported net income was 15.5T VND in FY2025, compounding −18.2%/yr from FY2021.
Key figures
Market cap 178T VND · P/E ratio 8.5 · P/S ratio 0.85 · EPS (TTM) 2,463 VND · Dividend yield 2.2% · Net margin 9.9% · Return on equity 16.5% · Return on assets (EBIT) 9.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −45% fair-value upside, at 27%, HPG screens cheaper than that median.
Fair Value models
All 16 models by family
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Set up alert →Quality Score breakdown
Of which business quality 32 · Market factors (momentum, volatility) 36
Revenue & earnings trend
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Compare Hoa Phat Group JSC with another stock
Price, fair value, quality and upside side by side.
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.Steel · 412 stocks
Valuation Multiplesvs Steel median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nucor Corporation NUE | $245.66 | $116.05 | −53% |
| Steel Dynamics, Inc STLD | $233.99 | $127.14 | −46% |
| JSW Steel Limited JSWSTEEL | ₹1,267 | ₹1,127 | −11% |
| Tata Steel Limited TATASTEEL | ₹184.97 | ₹147.13 | −20% |
| Reliance, Inc RS | $386.95 | $211.57 | −45% |
| Baoshan Iron & Steel Co 600019 | ¥5.73 | ¥8.07 | +41% |
| POSCO Holdings PKX | $59.05 | $68.58 | +16% |
| Inner Mongolia Baotou Steel Union Co 600010 | ¥2.12 | ¥0.5500 | −74% |
| Jindal Steel Limited JINDALSTEL | ₹1,141 | ₹516.27 | −55% |
| Lloyds Metals and Energy Limited LLOYDSME | ₹1,857 | ₹771.10 | −58% |
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Key figures of Hoa Phat Group JSC
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