Khai Hoan Land Group (KHG) Fair Value & Analysis
Real Estate · VN · Market cap 2.2T VND
Fair value as of: Jul 19, 2026
From 7 valuation models · updated 22 days ago
Fair value updated Jul 19, 2026, revised from 1,987 VND to 2,599 VND (+30.8%) since Jun 26, 2026. Share price −6.1% over the past month.
A solid business, but screening 46% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (3,249 VND). The favourable scenario is already priced in.
- Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
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
59‑month range 4,050 VND – 16,475 VND · fair‑value band 1,949 VND – 3,249 VND · the 4,780 VND price screens above the 2,599 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.
Analysis
Khai Hoan Land Group (KHG) currently trades at 4,780 VND, while our model-based Fair Value estimate is 2,599 VND, implying the stock looks roughly 45.6% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Real Estate 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: high).
Over the trailing twelve months, Khai Hoan Land Group generated revenue of 624B VND at a net margin of 11.0%. Revenue grew 22.3% year over year. It earns a return on equity of 1.3%. Net debt stands at 1.2T VND. Fundamentals as of Jul 19, 2026
Our scenario range runs from 1,949 VND (bear case) to 3,249 VND (bull case); at 4,780 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 45% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -46%, KHG screens richer 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 7 models by family
Widest divergence: Asset-Based (7,886 VND) versus Multiples (1,987 VND). Highest evidence: P/E Multiple (63).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 47 · 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
Khai Hoan Land Group Joint Stock Company, together with its subsidiaries, provides real estate brokerage services in Vietnam.
Full company description
Khai Hoan Land Group Joint Stock Company, together with its subsidiaries, provides real estate brokerage services in Vietnam. The company engages in real estate consulting; brokerage services; auction of real estate and land use rights; housing construction; site preparation; construction of other civil engineering works; trading of real estate; civil design activities; and landscape maintenance services. It is also involved in hotel services; trade promotion; restaurants and catering services; retailing other goods in specialized stores; wholesale of other household appliances; career education; and other recreational activities. The company was incorporated in 2009 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
Khai Hoan Land Group reported revenue of 601B VND in FY2025 versus 1.3T VND in FY2021, a compound −17.3%/yr. Reported net income was 68.7B VND in FY2025, compounding −36.2%/yr from FY2021.
KHG screens 46% overvalued. Compare with DLF Limited →
Peer Group
Real Estate - Development · 588 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 Real Estate - Development 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.
VALUE 0: the price sits above our fair-value range.
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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹657.75 | ₹159.49 | -76% |
| Lodha Developers Limited LODHA | ₹1,188 | ₹583.43 | -51% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,125 IDR | 1,330 IDR | -78% |
| Oberoi Realty Limited OBEROIRLTY | ₹1,925 | ₹1,183 | -39% |
| Godrej Properties Limited GODREJPROP | ₹2,102 | ₹1,044 | -50% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 555.00 IDR | 1,388 IDR | +150% |
| PT Sentul City Tbk, BKSL | 64.00 IDR | 84.16 IDR | +32% |
| PT Ciputra Development Tbk, CTRA | 555.00 IDR | 1,388 IDR | +150% |
| PT Duta Pertiwi Tbk DUTI | 4,100 IDR | 6,239 IDR | +52% |
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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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