Military Commercial Joint Stock Bank (MBB) Fair Value & Analysis
Financial Services · VN · Market cap 192T VND
Fair value as of: Jul 18, 2026
From 6 valuation models · updated 23 days ago
Fair value updated Jul 18, 2026, revised from 49,400 VND to 47,500 VND (−3.8%) since Jun 26, 2026. Share price −3.4% over the past month.
A solid business, screening 97% undervalued on our models.
What matters now
- The price is below even our cautious bear case (35,625 VND). The market is more pessimistic than our downside scenario.
- Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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 7,347 VND – 27,885 VND · fair‑value band 35,625 VND – 59,375 VND · the 24,150 VND price screens below the 47,500 VND fair value. Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Military Commercial Joint Stock Bank (MBB) currently trades at 24,150 VND, while our model-based Fair Value estimate is 47,500 VND, implying the stock looks roughly 96.7% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Financial Services 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, Military Commercial Joint Stock Bank generated revenue of 55.9T VND at a net margin of 49.6%. Revenue grew 16.8% year over year. It earns a return on equity of 20.8%. Net debt stands at 16.3T VND. Fundamentals as of Jul 18, 2026
Our scenario range runs from 35,625 VND (bear case) to 59,375 VND (bull case); at 24,150 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 18% below its 52-week high and 33% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 97%, MBB 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 6 models by family
Widest divergence: Multiples (56,517 VND) versus Dividend Discount (4,426 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 58 · Market factors (momentum, volatility) 49
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
Military Commercial Joint Stock Bank provides banking products and services in Vietnam. The company offers savings, current, special-numbered, escrow, special, and lump sum accounts; debit and credit card; business solution package; and MB Ageas life products.
Full company description
Military Commercial Joint Stock Bank provides banking products and services in Vietnam. The company offers savings, current, special-numbered, escrow, special, and lump sum accounts; debit and credit card; business solution package; and MB Ageas life products. It also provides home, production and business, auto, consumer loans, as well as loan for securities advance and equitization loan; fund transfer and payment services; and account services, products and services for soldiers, asset custody, and safe deposit box services. In addition, the company offers other services, including payroll, electricity fee collection services, tax payment collection, and other services; loans and guarantee; trade finance, including import letter of credit (L/C), import collection, outward remittance, export L/C, export collection, inward remittance, export documents discount, pre-delivery export finance based on original L/C, upas LC, and L/C at sight opening by self-financed capital; and digital banking. Further, it provides debt management and asset usage, securities, investment fund management, and consumer finance services; nonlife, life, and health insurance products. The company was incorporated in 1994 and is headquartered in Hanoi, Vietnam.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Military Commercial Joint Stock Bank reported revenue of 63.6T VND in FY2025 versus 34.3T VND in FY2021, a compound +16.7%/yr. Reported net income was 26.8T VND in FY2025, compounding +20.5%/yr from FY2021.
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Peer Group
Banks - Regional · 1083 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 Banks - Regional 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 Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| PT Bank Central Asia Tbk BBCA | 6,175 IDR | 6,087 IDR | -1% |
| KB Financial Group 105560 | 184,400 KRW | 213,797 KRW | +16% |
| PT Bank Rakyat Indonesia (Persero) Tbk BBRI | 2,970 IDR | 4,891 IDR | +65% |
| PT Bank Mandiri (Persero) Tbk BMRI | 4,310 IDR | 7,841 IDR | +82% |
| Banco Bradesco S.A BBD | 5,120 ARS | 10,240 ARS | +100% |
| Shinhan Financial Group 055550 | 107,900 KRW | 137,259 KRW | +27% |
| Hana Financial Group 086790 | 136,800 KRW | 193,969 KRW | +42% |
| Lloyds Banking Group LYG | 4,138 ARS | 8,275 ARS | +100% |
| Banco de Chile, CHILE | 193.10 CLP | 152.55 CLP | -21% |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB | 59,400 VND | 84,201 VND | +42% |
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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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