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Nam Long Investment Corp (NLG) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Nam Long Investment Corp stock VND 14,764, price VND 22,950, that is 35.7% below the price, quality 33 out of 100. Rating: strongly overvalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.

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Real Estate VN · ISIN VN000000NLG1

NL Nam Long Investment Corp logo Thin data Nov 6, 2026

Nam Long Investment Corp

NLG · VN
Very expensive, weak quality

Our calculation puts a fair price 36% below what the stock costs today.

Solidly profitable · 11.7% net margin (TTM)
Low debt
Expensive Growth (revenue 5y +20.6 %/yr in VND)
Revenue last quarter 46% below a year ago.
Fair value 14,764 VND · Strongly overvalued (−35.7%)
Quality 33/100
Negative free cash flow
Trails peers (4/13)
Narrow moat 37/100 · thin data
Thin data
⚠ Dilution
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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

55,547 VND 15,224 VND Fair Value 14,764 VND Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range 15,224 VND – 55,547 VND · fair‑value band 14,764 VND – 15,853 VND · the 22,950 VND price screens above the 14,764 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.

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Company profile

Nam Long Investment Corporation engages in the real estate business in Vietnam.

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The company is involved in the civil and industrial construction; housing renovation and interior decoration; construction and renovation of houses for sale or lease; harbour and road bridge construction; ground levelling and construction of drainage systems; installation and repair of electrical systems under 35KV; housing brokerage services; and purchase, trading, and sale of construction materials.

It also invests and trades in the construction of urban areas, and infrastructures for industrial zones and hi-tech parks; and invests in construction, trade, management, and lease of office buildings, supermarkets, schools, swimming pools, hotels, restaurants, golf courses, sports facility zones, and resorts.

In addition, the company offers project management advisory; transportation; management; design verification; and real estate brokerage, valuation, exchange, consulting, auction, and advertising; as well as real estate management and portfolio management services.

The company was formerly known as Nam Long Company Ltd. and changed its name to Nam Long Investment Corporation in 2005. Nam Long Investment Corporation was founded in 1992 and is headquartered in Ho Chi Minh City, Vietnam.

Stock analysis

Nam Long Investment Corp (NLG) currently trades at 22,950 VND, while our model-based Fair Value estimate is 14,764 VND, 36% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 26,758 VND per share, and 4 of the 9 models we run sit above the 22,950 VND price.

Bear case: the Dividend Discount group reads lowest at 13,680 VND, and 5 of the 9 models stay below the price. Data coverage for this calculation is low.

Scenario range: 14,764 VND (bear) to 15,853 VND (bull), the price of 22,950 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 33/100 (below-average quality), in the Real Estate sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Nam Long Investment Corp reported revenue of 5.6T VND in FY2025 versus 5.2T VND in FY2021, a compound +2.0%/yr. Reported net income was 701B VND in FY2025, compounding −10.0%/yr from FY2021.

Key figures

Market cap 11.1T VND (≈ $435M) Small · P/E ratio 18.7 · P/S ratio 2.85 · EPS (TTM) 1,229 VND · Dividend yield 8.5% · Net margin 11.7% · Return on equity 6.4% · Return on assets (EBIT) 3.6% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades about 38% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 33% fair-value upside, at −36%, NLG screens richer than that median.

Fair Value models

Bear 14,764 VND Fair Value 14,764 VND Bull 15,853 VND
Price 22,950 VND · Downside -35.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1,051 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
Residual Income 17,542 VND 17,369 VND 17,770 VND 76
Gordon GGM 8,857 VND 13,808 VND 17,034 VND 69
DDM Multi-Stage 8,857 VND 13,552 VND 14,935 VND 67
All 9 models by family
Dividend Discount
Gordon GGM 8,857 VND 13,808 VND 17,034 VND 69
DDM Multi-Stage 8,857 VND 13,552 VND 14,935 VND 67
Multiples
P/S Multiple 18,434 VND 24,579 VND 30,724 VND 57
P/B Multiple 28,465 VND 37,953 VND 47,441 VND 55
EV/EBIT 24,600 VND 33,574 VND 42,547 VND 65
EV/EBITDA 19,489 VND 26,758 VND 34,027 VND 67
EV/Revenue 12,527 VND 18,890 VND 25,253 VND 52
Asset-Based
NCAV (Graham) 9,848 VND 14,921 VND 18,651 VND 54
Economic Profit
Residual Income 17,542 VND 17,369 VND 17,770 VND 76

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 33/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 28
How much profit the company makes from its sales and capital
Quality Growth 33
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 65
Debt, balance sheet and risk of trouble
Investment 80
Does it invest with discipline instead of growing at any price?
Low Volatility 60
How calm the share price moves, does not count
Price momentum 27
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 9
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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. 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−21.6%
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.
+9.2%
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.
+20.6%
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.
+14.2%
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.
−4.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.7%
Dividend (yield on the price)8.5%
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.12% → 19%

NLG screens overvalued: fair value 36% below the price. Compare with Sun Hung Kai Properties Limited →

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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.Real Estate - Development · 489 stocks

Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 33 · Bottom 25%
Fair Value upside −35.7% · Below median
Profitability
Return on equity (12 months) 6.4% · Above median
Return on assets 3.6% · Above median
Net margin (12 months) 15.8% · Above median
Operating margin (12 months) 10.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) −46.3% · Bottom 25%
Dividend yield (12 months) 8.5% · Top 25%
Balance sheet
Debt / equity 0.36× · Above median

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/E (12 months) 18.7× · Pricier than median
P/B 0.88× · Pricier than median
P/S (12 months) 2.85× · Pricier than median
EV/EBITDA 11.7× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 67
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)25 · sector 17
HEALTH (low debt)82 · sector 83
DIVIDEND (yield)100 · sector 61

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China Resources Land Limited 1109 HK$32.02 HK$80.05 +150% vs NLG
Vinhomes Joint Stock Company VHM 62,100 VND 105,995 VND +71% vs NLG
China Overseas Land & Investment Limited 0688 HK$13.18 HK$22.49 +71% vs NLG
CK Asset Holdings 1113 HK$49.12 HK$72.05 +47% vs NLG
Sun Hung Kai Properties Limited 0016 HK$117.70 HK$156.00 +33% vs NLG
China Merchants Shekou Industrial Zone Holdings 001979 ¥7.84 ¥5.64 −28% vs NLG
Sino Land Company 0083 HK$10.48 HK$6.32 −40% vs NLG
Lodha Developers Limited LODHA ₹1,179 ₹271.92 −77% vs NLG
DLF Limited DLF ₹752.90 ₹167.48 −78% vs NLG
Hongkong Land Holdings H78 $8.28 $1.52 −82% vs NLG

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Nam Long Investment Corp: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Nam Long Investment Corp Fair Value". https://www.fairvalue-calculator.com/stock/NLG

Frequently asked questions

Is Nam Long Investment Corp (NLG) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 14,764 VND versus a price of 22,950 VND, about 36% lower (overvalued).
What is the fair value of NLG?
Our model-based fair value for Nam Long Investment Corp is 14,764 VND (as of Nov 6, 2026), built from audited fundamentals. The current price: 22,950 VND.
What is the quality score of NLG?
Nam Long Investment Corp has a Quality Score of 33/100. 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 Long Investment Corp (NLG)?
Our model-based price target is the fair value of 14,764 VND (as of Nov 6, 2026) from 9 valuation models. Cautious scenario 14,764 VND, optimistic scenario 15,853 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Nam Long Investment Corp stock forecast for 2026?
Our models put fair value at 14,764 VND, about 36% lower versus a price of 22,950 VND (overvalued). Cautious scenario 14,764 VND, optimistic scenario 15,853 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Nam Long Investment Corp (NLG)?
Nam Long Investment Corp reported trailing-twelve-month revenue of about 5.3T VND (latest available figure, as of Nov 6, 2026).
Does Nam Long Investment Corp pay a dividend?
Nam Long Investment Corp currently shows a dividend yield of 8.47% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Nam Long Investment Corp (NLG)?
Nam Long Investment Corp has a dividend yield of 8.5%.
What is the intrinsic value of Nam Long Investment Corp (NLG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nam Long Investment Corp it is 14,764 VND per share (as of Nov 6, 2026), against a price of 22,950 VND. It is the blended result of 9 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Nam Long Investment Corp stock overvalued or undervalued in 2026?
As of Nov 6, 2026, NLG trades above its calculated fair value: price 22,950 VND, fair value 14,764 VND, a gap of about −36% (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 NLG?
No. The price is what the market pays today (22,950 VND); the fair value is what the company's own numbers justify (14,764 VND). For Nam Long Investment Corp the two are 8,186 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Nam Long Investment Corp worth?
The market values Nam Long Investment Corp at about 11.1T VND (market capitalisation, as of Nov 6, 2026). Per share that is 22,950 VND; our models calculate a fair value of 14,764 VND per share.
What do the bullish and bearish scenarios say about NLG?
Our models span a range for Nam Long Investment Corp: cautious scenario 14,764 VND, base 14,764 VND, optimistic 15,853 VND per share (as of Nov 6, 2026, price 22,950 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NLG?
Nam Long Investment Corp trades at a price-to-earnings ratio of 18.7 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 14,764 VND is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 16.8 (reported for FY2025: 15.9). Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2025 ex one-offs: 23.0. Other multiples: P/B 0.9, P/S 2.8, EV/EBITDA 11.7.
How solid is the balance sheet of Nam Long Investment Corp (NLG)?
Balance-sheet figures for Nam Long Investment Corp (as of Nov 6, 2026): return on equity 6.4%, debt of 0.36 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is NLG from its 52-week high?
Nam Long Investment Corp trades at 22,950 VND, about 38% below its 52-week high of 37,233 VND and 15% above the low of 20,000 VND (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 14,764 VND is for.
Which stocks are comparable to Nam Long Investment Corp?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, DLF 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 Long Investment Corp stock attractive at the current price?
The data as of Nov 6, 2026: price 22,950 VND, calculated fair value 14,764 VND (−36%), Quality Score 33/100, from 9 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 NLG calculated?
We run Nam Long Investment Corp through 9 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 14,764 VND builds on their evidence-weighted average, 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 Long Investment Corp 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 Long Investment Corp (NLG)?
The closing price on Nov 6, 2026 was 22,950 VND. Our model-based fair value is 14,764 VND, about 36% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nam Long Investment Corp right now?
The price sits above even our optimistic bull case (15,853 VND). The favourable scenario is already priced in. Weak quality (33/100) 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. The models converge in a tight band (14,764 VND to 15,853 VND), unusually little disagreement for a valuation.

Key figures of Nam Long Investment Corp

How large is the market capitalisation of Nam Long Investment Corp (NLG)?
The market capitalisation of Nam Long Investment Corp is 11.1T VND (≈ $435M). 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 Long Investment Corp (NLG)?
The price-to-sales ratio of Nam Long Investment Corp is 2.85 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nam Long Investment Corp (NLG)?
Earnings per share at Nam Long Investment Corp are 1,229 VND (price ÷ EPS = P/E 18.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nam Long Investment Corp (NLG)?
The dividend yield of Nam Long Investment Corp is 8.5% (payout 158%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nam Long Investment Corp (NLG)?
The net margin of Nam Long Investment Corp is 11.7% (last twelve months). 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 Long Investment Corp (NLG)?
The return on equity (ROE) of Nam Long Investment Corp is 6.4% (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 Long Investment Corp (NLG)?
On an EBIT basis the return on assets of Nam Long Investment Corp is 3.6% (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 Long Investment Corp (NLG)?
The operating margin of Nam Long Investment Corp is 10.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nam Long Investment Corp (NLG)?
Revenue at Nam Long Investment Corp is growing −46.3% versus a year earlier (3y avg +9.2%). 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 Long Investment Corp (NLG)?
Earnings per share at Nam Long Investment Corp are growing −57.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nam Long Investment Corp (NLG) generate?
The free cash flow of Nam Long Investment Corp is −883B 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 Long Investment Corp (NLG) carry?
The net debt of Nam Long Investment Corp is 1.5T VND (fiscal year 2024). 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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