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Vietnam Maritime Commercial Joint Stock Bank (MSB) Fair Value & Analysis

Financial Services · VN · Market cap 45.2T VND

VM Vietnam Maritime Commercial Joint Stock Bank MSB · VN
Price15,750 VND
Fair Value31,500 VND
Upside+100.0%
Quality95/100
Evidence: High Range 23,625 VND – 39,375 VND

Fair value as of: Jun 26, 2026

From 18 valuation models · updated 3 days ago

Fair value updated Jun 26, 2026 — revised from 31,000 VND to 31,500 VND (+1.6%) since Jun 25, 2026. Share price +4.6% over the past month.

Price vs Fair Value (12 months)

15,750 VND 9,844 VND Fair Value 31,500 VND Jun 2025 Jun 2026

12‑month range 9,844 VND – 15,750 VND · fair‑value band 23,625 VND – 39,375 VND · the 15,750 VND price screens below the 31,500 VND fair value. As of Jun 26, 2026.

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Analysis

Vietnam Maritime Commercial Joint Stock Bank (MSB) currently trades at 15,750 VND, while our model-based Fair Value estimate is 31,500 VND — implying the stock looks roughly 100.0% undervalued today. We read business quality at 95/100 (high 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, Vietnam Maritime Commercial Joint Stock Bank generated revenue of 12.4T VND at a net margin of 47.4%. Revenue grew 9.9% year over year. It earns a return on equity of 14.3%. Net debt stands at 11.6T VND. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 12.4T VND
Revenue growth (YoY) +9.9%
Net margin 47.4%
Return on equity 14.3%
Free cash flow 11.5T VND FY2025
P/E ratio 7.7
More key figures
Operating margin 61.0%
EPS (TTM) 1,884 VND
EPS growth (YoY) +19.6%
Net debt 11.6T VND FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Vietnam Maritime Commercial Joint Stock Bank provides commercial and retail banking products and services in Vietnam. The company offers fixed term and flexible savings accounts, and credit, debit, and hybrid cards. It also provides real estate, business, consumer, auto, home renovation loans, as well as consumer overdrafts; investment products; savings-linked and investment-linked, health, and property insurance products; international transfers and remittances, and foreign cash exchange services. In addition, the company offers account services, transfers, and cash management; short, medium, and long-term corporate lending services; guarantees and export letters of credit; foreign exchange, SWAP, and interbank cash exchange transactions; supply chain finance services; and priority banking services. Further, it provides capital market, credit and trade finance, payment, corresponding banking, and custody services. Vietnam Maritime Commercial Joint Stock Bank was incorporated in 199…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vietnam Maritime Commercial Joint Stock Bank reported revenue of 13.7T VND in FY2025 versus 10.3T VND in FY2021, a compound +7.4%/yr. Reported net income was 5.6T VND in FY2025, compounding +8.7%/yr from FY2021.

Revenue +7.4%/yr
FY21 10.3T VND
FY22 11.4T VND
FY23 12.8T VND
FY24 13.5T VND
FY25 13.7T VND
Net income +8.7%/yr
FY21 4.0T VND
FY22 4.6T VND
FY23 4.6T VND
FY24 5.5T VND
FY25 5.6T VND

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6 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

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Frequently asked questions

Is Vietnam Maritime Commercial Joint Stock Bank (MSB) undervalued?
As of Jun 26, 2026, our model estimates a fair value of 31,500 VND versus a price of 15,750 VND — about +100% (undervalued). Model-based estimate, not financial advice.
What is the fair value of MSB?
Our 21-model fair value for Vietnam Maritime Commercial Joint Stock Bank is 31,500 VND (as of Jun 26, 2026), built from audited fundamentals. The current price is 15,750 VND.
What is the quality score of MSB?
Vietnam Maritime Commercial Joint Stock Bank has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Vietnam Maritime Commercial Joint Stock Bank (MSB)?
Vietnam Maritime Commercial Joint Stock Bank reported trailing-twelve-month revenue of about 12.4T VND (latest available figure, as of Jun 26, 2026).
What is the net profit margin of MSB?
The net profit margin of Vietnam Maritime Commercial Joint Stock Bank is about 47.4%, meaning it keeps roughly 47.4% 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.