PetroVietnam Power Nhon Trach 2 JSC (NT2) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of PetroVietnam Power Nhon Trach 2 JSC VND 43,400, price VND 20,900, upside +107.7%, quality 78 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 13,567 VND – 28,900 VND · fair‑value band 29,854 VND – 59,365 VND · the 20,900 VND price screens below the 43,400 VND fair value. Dashed = 300-day average. As of Sep 24, 2026.
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PetroVietnam Power Nhon Trach 2 Joint Stock Company engages in the production, transmission, and distribution of electricity in Vietnam. The company manages combined cycle gas turbine power plant.
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PetroVietnam Power Nhon Trach 2 Joint Stock Company engages in the production, transmission, and distribution of electricity in Vietnam. The company manages combined cycle gas turbine power plant. It also involved in the provision of support services for transportation by waterway; warehouse and storage; road transportation; architecture and technical consultancy; professional activities, other scientific and technological; vocational education; domestic waterway transportation; and other transportation support services. In addition, the company engages in the wholesale of solid, liquid, and gas fuels, as well as related products; and machinery, equipment, and other spare parts. Further, it engages in real estate business, such as leasing, operation, and management of residential and non-residential houses and land; and owns land use rights. PetroVietnam Power Nhon Trach 2 Joint Stock Company was founded in 2007 and is headquartered in Nhon Trach, Vietnam.
Stock analysis
PetroVietnam Power Nhon Trach 2 JSC (NT2) currently trades at 20,900 VND, while our model-based Fair Value estimate is 43,400 VND, implying the stock looks roughly 51.8% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 60,454 VND per share, and 23 of the 24 models we run sit above the 20,900 VND price.
Bear case: the Asset-Based group reads lowest at 11,310 VND, and 1 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 29,854 VND (bear) to 59,365 VND (bull), the price of 20,900 VND sits below 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 78/100 (high quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
PetroVietnam Power Nhon Trach 2 JSC reported revenue of 8.0T VND in FY2025 versus 6.1T VND in FY2021, a compound +6.7%/yr. Reported net income was 1.1T VND in FY2025, compounding +21.5%/yr from FY2021.
Key figures
Market cap 6.6T VND · P/E ratio 4.7 · P/S ratio 0.65 · EPS (TTM) 4,424 VND · Net margin 13.8% · Return on equity 28.2% · Return on assets (EBIT) 7.8% · Operating margin 8.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −34% fair-value upside, at 108%, NT2 screens cheaper than that median.
Fair Value models
Bear 29,854 VNDFair Value 43,400 VNDBull 59,365 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 (3,248 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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+33.9%
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.
−3.3%
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.
+5.5%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in VND (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
−6.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.2%
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.12% → 15%
2025 sits 148% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+1.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Vietnam: IMF forecast 4.1% a year to 2030, 3.1% from 2016 to 2025) that is about −2.3% a year for the price and +1.7% for the forecasts.
Compare PetroVietnam Power Nhon Trach 2 JSC with another stock
Price, fair value, quality and upside side by side.
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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.Utilities - Regulated Electric · 159 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score78 · Top 25%
Fair Value upside+105% · Top 25%
Profitability
Return on equity (TTM)28% · Top 25%
Return on assets10% · Top 25%
Net margin (TTM)15% · Above median
Operating margin (TTM)8% · Bottom 25%
Growth and dividend
Revenue growth52% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
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Cite: Fair Value Calculator (2026). "PetroVietnam Power Nhon Trach 2 JSC Fair Value". https://www.fairvalue-calculator.com/stock/NT2
Frequently asked questions
Is PetroVietnam Power Nhon Trach 2 JSC (NT2) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 43,400 VND versus a price of 20,900 VND, about +108% upside (undervalued).
What is the fair value of NT2?
Our model-based fair value for PetroVietnam Power Nhon Trach 2 JSC is 43,400 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 20,900 VND.
What is the quality score of NT2?
PetroVietnam Power Nhon Trach 2 JSC has a Quality Score of 78/100. 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 PetroVietnam Power Nhon Trach 2 JSC (NT2)?
Our model-based price target is the fair value of 43,400 VND (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 29,854 VND, optimistic scenario 59,365 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the PetroVietnam Power Nhon Trach 2 JSC stock forecast for 2026?
Our models put fair value at 43,400 VND, about +108% upside versus a price of 20,900 VND (undervalued). Cautious scenario 29,854 VND, optimistic scenario 59,365 VND. The calculation is refreshed regularly with new filings.
What is the revenue of PetroVietnam Power Nhon Trach 2 JSC (NT2)?
PetroVietnam Power Nhon Trach 2 JSC reported trailing-twelve-month revenue of about 8.7T VND (latest available figure, as of Sep 24, 2026).
What growth is priced into PetroVietnam Power Nhon Trach 2 JSC (NT2)?
For today's price to be fair in a discounted-cash-flow model, PetroVietnam Power Nhon Trach 2 JSC would have to grow free cash flow by +1.7 % per year for five years (discount rate 14.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of NT2 use?
Our models discount PetroVietnam Power Nhon Trach 2 JSC at 14.9 %: a base by market capitalisation (micro), damped by beta 0.15, country premium for Vietnam. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For PetroVietnam Power Nhon Trach 2 JSC that is +1.7 % per year a year over ten years, using the same discount rate (14.9 %) and the same formula as our fair value.
How much growth has PetroVietnam Power Nhon Trach 2 JSC (NT2) delivered so far?
Over the past 5 years revenue at PetroVietnam Power Nhon Trach 2 JSC grew +5.5 % a year. The price currently implies +1.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of PetroVietnam Power Nhon Trach 2 JSC (NT2) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into PetroVietnam Power Nhon Trach 2 JSC (+1.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of PetroVietnam Power Nhon Trach 2 JSC (NT2)?
The free-cash-flow yield on the price is 16.52 %: that much free cash flow PetroVietnam Power Nhon Trach 2 JSC produces per unit of market value. When it exceeds the discount rate of our models (14.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PetroVietnam Power Nhon Trach 2 JSC (NT2)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PetroVietnam Power Nhon Trach 2 JSC it is 43,400 VND per share (as of Sep 24, 2026), against a price of 20,900 VND. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is PetroVietnam Power Nhon Trach 2 JSC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NT2 trades below its calculated fair value: price 20,900 VND, fair value 43,400 VND, a gap of about +108% (undervalued). 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 NT2?
No. The price is what the market pays today (20,900 VND); the fair value is what the company's own numbers justify (43,400 VND). For PetroVietnam Power Nhon Trach 2 JSC the two are 22,500 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is PetroVietnam Power Nhon Trach 2 JSC worth?
The market values PetroVietnam Power Nhon Trach 2 JSC at about 6.6T VND (market capitalisation, as of Sep 24, 2026). Per share that is 20,900 VND; our models calculate a fair value of 43,400 VND per share.
What do the bullish and bearish scenarios say about NT2?
Our models span a range for PetroVietnam Power Nhon Trach 2 JSC: cautious scenario 29,854 VND, base 43,400 VND, optimistic 59,365 VND per share (as of Sep 24, 2026, price 20,900 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NT2?
PetroVietnam Power Nhon Trach 2 JSC trades at a price-to-earnings ratio of 4.7 (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 43,400 VND is built from several models across several years. Other multiples: P/B 1.4, P/S 0.8, EV/EBITDA 3.8.
How solid is the balance sheet of PetroVietnam Power Nhon Trach 2 JSC (NT2)?
Balance-sheet figures for PetroVietnam Power Nhon Trach 2 JSC (as of Sep 24, 2026): return on equity 28.2%. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
How far is NT2 from its 52-week high?
PetroVietnam Power Nhon Trach 2 JSC trades at 20,900 VND, about 28% below its 52-week high of 28,900 VND and 3% above the low of 20,250 VND (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 43,400 VND is for.
Which stocks are comparable to PetroVietnam Power Nhon Trach 2 JSC?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, 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 PetroVietnam Power Nhon Trach 2 JSC stock attractive at the current price?
The data as of Sep 24, 2026: price 20,900 VND, calculated fair value 43,400 VND (+108%), Quality Score 78/100, from 24 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 NT2 calculated?
We run PetroVietnam Power Nhon Trach 2 JSC through 24 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 43,400 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. PetroVietnam Power Nhon Trach 2 JSC currently trades 108 % below its own fair value, and the market average says nothing about that. 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 PetroVietnam Power Nhon Trach 2 JSC (NT2)?
The closing price on Sep 24, 2026 was 20,900 VND. Our model-based fair value is 43,400 VND, about +108% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PetroVietnam Power Nhon Trach 2 JSC right now?
The rarer combination: high quality (78/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (29,854 VND). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (29,854 VND to 59,365 VND) leaves room in how you read the outcome.
Key figures of PetroVietnam Power Nhon Trach 2 JSC
How large is the market capitalisation of PetroVietnam Power Nhon Trach 2 JSC (NT2)?
The market capitalisation of PetroVietnam Power Nhon Trach 2 JSC is 6.6T 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 PetroVietnam Power Nhon Trach 2 JSC (NT2)?
The price-to-sales ratio of PetroVietnam Power Nhon Trach 2 JSC is 0.65 (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 PetroVietnam Power Nhon Trach 2 JSC (NT2)?
Earnings per share at PetroVietnam Power Nhon Trach 2 JSC are 4,424 VND (price ÷ EPS = P/E 4.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of PetroVietnam Power Nhon Trach 2 JSC (NT2)?
The net margin of PetroVietnam Power Nhon Trach 2 JSC is 13.8% (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 PetroVietnam Power Nhon Trach 2 JSC (NT2)?
The return on equity (ROE) of PetroVietnam Power Nhon Trach 2 JSC is 28.2% (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 PetroVietnam Power Nhon Trach 2 JSC (NT2)?
On an EBIT basis the return on assets of PetroVietnam Power Nhon Trach 2 JSC is 7.8% (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 PetroVietnam Power Nhon Trach 2 JSC (NT2)?
The operating margin of PetroVietnam Power Nhon Trach 2 JSC is 8.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PetroVietnam Power Nhon Trach 2 JSC (NT2)?
Revenue at PetroVietnam Power Nhon Trach 2 JSC is growing +52.2% versus a year earlier (3y avg −3.3%). 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 PetroVietnam Power Nhon Trach 2 JSC (NT2)?
Earnings per share at PetroVietnam Power Nhon Trach 2 JSC are growing +478% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does PetroVietnam Power Nhon Trach 2 JSC (NT2) carry?
The net debt of PetroVietnam Power Nhon Trach 2 JSC is 1.7T VND (fiscal year 2025, ≈ 1.8 yrs of FCF). 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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