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Nam Kim Steel JSC (NKG) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Nam Kim Steel JSC VND 5,786, price VND 9,700, upside -40.4%, quality 21 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Basic Materials · VN · ISIN VN000000NKG3

NK Thin data Sep 24, 2026

Nam Kim Steel JSC

NKG · VN

Weakest SetupStrongly overvalued and low quality.

!Fair value 5,786 VND · Strongly overvalued (−40%)
!Quality 21/100
!Weak Growth (revenue 5y +5.1 %/yr)
!Thin margins · 1.1% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (2/12)
!Narrow moat 24/100
!Evidence only low, so the estimate is less certain
!Weak on past: 8 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

31,615 VND 5,241 VND Fair Value 5,786 VND Jun 2021 Sep 2026

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 5,241 VND – 31,615 VND · fair‑value band 4,339 VND – 5,786 VND · the 9,700 VND price screens above the 5,786 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

Nam Kim Steel Joint Stock Company engages in the manufacture and sale of steel and other products in Vietnam and internationally. It offers steel sheets, including pre-painted aluminum- zinc alloy coated and galvanized steel sheet in coil, as well as steel pipes.

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Nam Kim Steel Joint Stock Company engages in the manufacture and sale of steel and other products in Vietnam and internationally. It offers steel sheets, including pre-painted aluminum- zinc alloy coated and galvanized steel sheet in coil, as well as steel pipes. The company also manufactures other metal products; produces steel tole, iron, steel, cast iron, steel and rolled steel, cold rolled steel, and black and galvanized steel tape; wholesales metal and metal ores; and trades in scraps. In addition, it is involved in mechanical processing, handling and metal coating; provision of road transportation, logistics services, and cargo handling services; and leasing of transport vehicles and other transport-related support services. The company was incorporated in 2002 and is headquartered in Thu Dau Mot, Vietnam.

Stock analysis

Nam Kim Steel JSC (NKG) currently trades at 9,700 VND, while our model-based Fair Value estimate is 5,786 VND, implying the stock looks roughly 67.6% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 10,371 VND per share, and 1 of the 12 models we run sit above the 9,700 VND price.

Bear case: the Growth Earnings group reads lowest at 5,195 VND, and 11 of the 12 models stay below the price. Evidence for this calculation is low.

Scenario range: 4,339 VND (bear) to 5,786 VND (bull), the price of 9,700 VND sits above 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 21/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Nam Kim Steel JSC reported revenue of 14.8T VND in FY2025 versus 28.2T VND in FY2021, a compound −14.9%/yr. Reported net income was 197B VND in FY2025, compounding −45.4%/yr from FY2021.

Key figures

Market cap 5.6T VND · P/E ratio 30.7 · P/S ratio 0.41 · EPS (TTM) 316.47 VND · Net margin 1.3% · Return on equity 2.0% · Return on assets (EBIT) 5.6% · Operating margin −0.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 42% below its 52-week high and at 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 −40%, NKG screens cheaper than that median.

Fair Value models

Bear 4,339 VND Fair Value 5,786 VND Bull 5,786 VND
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (232.37 VND per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income 9,936 VND 9,162 VND 6,498 VND 68
EPV 108.77 VND 469.71 VND 762.64 VND 67
EV/EBITDA 6,127 VND 9,136 VND 12,144 VND 66
All 12 models by family
Earnings-Based
Graham-Dodd 2,723 VND 3,328 VND 3,744 VND 65
EPV 108.77 VND 469.71 VND 762.64 VND 67
Multiples
P/E Multiple 5,105 VND 6,807 VND 8,508 VND 63
P/S Multiple 5,105 VND 6,807 VND 8,508 VND 58
P/B Multiple 5,105 VND 6,807 VND 8,508 VND 55
EV/EBIT 2,014 VND 3,651 VND 5,289 VND 63
EV/EBITDA 6,127 VND 9,136 VND 12,144 VND 66
EV/Revenue 1,359 VND 3,183 VND 5,008 VND 50
Asset-Based
NCAV (Graham) 7,739 VND 10,371 VND 15,479 VND 54
Economic Profit
Residual Income 9,936 VND 9,162 VND 6,498 VND 68
ROIC Compounder 108.77 VND 469.71 VND 762.64 VND 65
Growth Earnings
Growth-Adj P/E 3,637 VND 5,195 VND 6,754 VND 65

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Quality Score breakdown

Overall quality 21/100

Of which business quality 25 · Market factors (momentum, volatility) 26

Profitability 28
Margins and returns on capital today
Quality Growth 11
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 34
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 25/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−28.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−13.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.1%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
What shareholders gained per year (last 5 years), in VND ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in VND: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−21.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−21.0%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 2%

NKG screens 68% overvalued. Compare with Nucor Corporation →

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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 · 411 stocks

Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 21 · Bottom 25%
Fair Value upside −42% · Below median
Profitability
Return on equity (TTM) 2% · Below median
Return on assets 0% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) −1% · Bottom 25%
Growth and dividend
Revenue growth −20% · Bottom 25%
Balance sheet
Debt / equity 0.30× · Highest 25%

Valuation Multiplesvs Steel median · lower = cheaper

P/E (TTM) 30.7× · Pricier than median
P/B 0.73× · Cheaper than median
P/S (TTM) 0.40× · Cheaper than median
EV/EBITDA 14.5× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 21
FUTURE (revenue growth)0 · sector 4
PAST (return on equity)8 · sector 15
HEALTH (low debt)85 · sector 95
DIVIDEND (yield)0 · sector 51

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Nucor Corporation NUE $246.98 $116.05 −53%
Steel Dynamics, Inc STLD $234.29 $127.14 −46%
JSW Steel Limited JSWSTEEL ₹1,298 ₹1,103 −15%
Tata Steel Limited TATASTEEL ₹190.82 ₹147.13 −23%
Reliance, Inc RS $384.63 $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 ₹1,175 ₹516.27 −56%
Lloyds Metals and Energy Limited LLOYDSME ₹1,891 ₹771.10 −59%

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Nam Kim Steel JSC · Fair Value
5,786 VND −68%Fair Value
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Cite: Fair Value Calculator (2026). "Nam Kim Steel JSC Fair Value". https://www.fairvalue-calculator.com/stock/NKG

Frequently asked questions

Is Nam Kim Steel JSC (NKG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 5,786 VND versus a price of 9,700 VND, about −40% upside (overvalued).
What is the fair value of NKG?
Our model-based fair value for Nam Kim Steel JSC is 5,786 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 9,700 VND.
What is the quality score of NKG?
Nam Kim Steel JSC has a Quality Score of 21/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Nam Kim Steel JSC (NKG)?
Our model-based price target is the fair value of 5,786 VND (as of Sep 24, 2026) from 12 valuation models. Cautious scenario 4,339 VND, optimistic scenario 5,786 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Nam Kim Steel JSC stock forecast for 2026?
Our models put fair value at 5,786 VND, about −40% upside versus a price of 9,700 VND (overvalued). Cautious scenario 4,339 VND, optimistic scenario 5,786 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Nam Kim Steel JSC (NKG)?
Nam Kim Steel JSC reported trailing-twelve-month revenue of about 14.0T VND (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Nam Kim Steel JSC (NKG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nam Kim Steel JSC it is 5,786 VND per share (as of Sep 24, 2026), against a price of 9,700 VND. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Nam Kim Steel JSC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NKG trades above its calculated fair value: price 9,700 VND, fair value 5,786 VND, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NKG?
No. The price is what the market pays today (9,700 VND); the fair value is what the company's own numbers justify (5,786 VND). For Nam Kim Steel JSC the two are 3,914 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Nam Kim Steel JSC worth?
The market values Nam Kim Steel JSC at about 5.6T VND (market capitalisation, as of Sep 24, 2026). Per share that is 9,700 VND; our models calculate a fair value of 5,786 VND per share.
What do the bullish and bearish scenarios say about NKG?
Our models span a range for Nam Kim Steel JSC: cautious scenario 4,339 VND, base 5,786 VND, optimistic 5,786 VND per share (as of Sep 24, 2026, price 9,700 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NKG?
Nam Kim Steel JSC trades at a price-to-earnings ratio of 30.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 5,786 VND is built from several models across several years. Other multiples: P/B 0.7, P/S 0.4, EV/EBITDA 14.5.
How solid is the balance sheet of Nam Kim Steel JSC (NKG)?
Balance-sheet figures for Nam Kim Steel JSC (as of Sep 24, 2026): return on equity 2.0%, debt of 0.30 per unit of equity. They feed the Quality Score of 21/100, which measures business quality independently of the share price.
How far is NKG from its 52-week high?
Nam Kim Steel JSC trades at 9,700 VND, about 42% below its 52-week high of 16,773 VND and at the low of 9,700 VND (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 5,786 VND is for.
Which stocks are comparable to Nam Kim Steel JSC?
From the same area (Basic Materials) we also value Nucor Corporation, Steel Dynamics, Inc, JSW Steel Limited, Tata Steel Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Nam Kim Steel JSC stock attractive at the current price?
The data as of Sep 24, 2026: price 9,700 VND, calculated fair value 5,786 VND (−40%), Quality Score 21/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NKG calculated?
We run Nam Kim Steel JSC through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 5,786 VND, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Nam Kim Steel JSC itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Nam Kim Steel JSC (NKG)?
The closing price on Sep 24, 2026 was 9,700 VND. Our model-based fair value is 5,786 VND, about −40% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nam Kim Steel JSC right now?
The price sits above even our optimistic bull case (5,786 VND). The favourable scenario is already priced in. Weak quality (21/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Nam Kim Steel JSC

How large is the market capitalisation of Nam Kim Steel JSC (NKG)?
The market capitalisation of Nam Kim Steel JSC is 5.6T VND. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Nam Kim Steel JSC (NKG)?
The price-to-sales ratio of Nam Kim Steel JSC is 0.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nam Kim Steel JSC (NKG)?
Earnings per share at Nam Kim Steel JSC are 316.47 VND (price ÷ EPS = P/E 30.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Nam Kim Steel JSC (NKG)?
The net margin of Nam Kim Steel JSC is 1.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Nam Kim Steel JSC (NKG)?
The return on equity (ROE) of Nam Kim Steel JSC is 2.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Nam Kim Steel JSC (NKG)?
On an EBIT basis the return on assets of Nam Kim Steel JSC is 5.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Nam Kim Steel JSC (NKG)?
The operating margin of Nam Kim Steel JSC is −0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nam Kim Steel JSC (NKG)?
Revenue at Nam Kim Steel JSC is growing −20.3% versus a year earlier (3y avg −13.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Nam Kim Steel JSC (NKG)?
Earnings per share at Nam Kim Steel JSC are growing −65.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nam Kim Steel JSC (NKG) generate?
The free cash flow of Nam Kim Steel JSC is −2.1T VND (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nam Kim Steel JSC (NKG) carry?
The net debt of Nam Kim Steel JSC is 6.0T VND (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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