Becamex Infrastructure Development Joint Stock Company (IJC) Fair Value & Analysis
Industrials · VN · Market cap 5.4T VND
Fair value as of: Jul 12, 2026
From 9 valuation models · updated 29 days ago
Share price −7.3% over the past month.
Below-average quality, screening 62% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (9,204 VND). The market is more pessimistic than our downside scenario.
- A fairly wide model range (9,204 VND to 16,658 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 12, 2026.
How to read this chart
60‑month range 4,728 VND – 18,716 VND · fair‑value band 9,204 VND – 16,658 VND · the 7,930 VND price screens below the 12,814 VND fair value. Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Becamex Infrastructure Development Joint Stock Company (IJC) currently trades at 7,930 VND, while our model-based Fair Value estimate is 12,814 VND, implying the stock looks roughly 61.6% undervalued today. The Quality Score stands at 38/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Becamex Infrastructure Development Joint Stock Company generated revenue of 1.7T VND at a net margin of 38.4%. Revenue grew 69.4% year over year. It earns a return on equity of 9.8%. Net debt stands at 353B VND. Fundamentals as of Jul 12, 2026
Our scenario range runs from 9,204 VND (bear case) to 16,658 VND (bull case); at 7,930 VND, the current price sits below 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 50% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 62%, IJC 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 9 models by family
Widest divergence: Multiples (16,130 VND) versus Dividend Discount (3,181 VND). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 36 · Market factors (momentum, volatility) 30
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
Becamex Infrastructure Development Joint Stock Company engages in investment, construction, and real estate businesses in Vietnam. It operates through the Sale of Toll Tickets, Trading Real Estate, Trading Investment Properties, Construction, Business Cooperation Contract, and Other segments.
Full company description
Becamex Infrastructure Development Joint Stock Company engages in investment, construction, and real estate businesses in Vietnam. It operates through the Sale of Toll Tickets, Trading Real Estate, Trading Investment Properties, Construction, Business Cooperation Contract, and Other segments. The company engages in the investment, construction, and operation of technical infrastructure of industrial parks, residences, and urban areas; operation, maintenance, and repair of toll stations; sale of toll tickets; provision of real estate brokerage, valuation, trading floor, consultancy, auction, advertising, management, and trading services; leasing and rental of properties, equipment, and furniture; construction of social houses, public works, and civil and industrial works; and operation of restaurants and hotels. It is also involved in the provision of catering and event organization services; airline and train ticket agency; operation of trade centers; tourism; and passenger transport. Becamex Infrastructure Development Joint Stock Company was incorporated in 2007 and is headquartered in Thu Dau Mot, Vietnam.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Becamex Infrastructure Development Joint Stock Company reported revenue of 1.6T VND in FY2025 versus 2.6T VND in FY2021, a compound −11.4%/yr. Reported net income was 597B VND in FY2025, compounding −1.0%/yr from FY2021.
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Peer Group
Engineering & Construction · 839 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 Engineering & Construction 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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹96.32 | ₹48.22 | -50% |
| Cemindia Projects Limited CEMPRO | ₹1,330 | ₹730.69 | -45% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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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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