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No Va Land Investment Group (NVL) Fair Value & Analysis

Real Estate · VN · Market cap 30.3T VND

NV No Va Land Investment Group NVL · VN
Price13,900 VND
Fair Value10,490 VND
Upside-24.5%
Quality32/100
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Expensive Growth
Highly profitable · 35.2% net margin
Moderate debt · negative free cash flow
Mixed vs. peers (5/12)
Moderate moat 59/100
Evidence: Medium Range 7,867 VND – 13,112 VND Share as image

Fair value as of: Jul 12, 2026

From 6 valuation models · updated 29 days ago

Share price +9.9% over the past month.

Below-average quality, and screening another 25% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (13,112 VND). The favourable scenario is already priced in.
  • Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

85,922 VND 7,535 VND Fair Value 10,490 VND Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 7,535 VND – 85,922 VND · fair‑value band 7,867 VND – 13,112 VND · the 13,900 VND price screens above the 10,490 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

No Va Land Investment Group (NVL) currently trades at 13,900 VND, while our model-based Fair Value estimate is 10,490 VND, implying the stock looks roughly 24.5% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, No Va Land Investment Group generated revenue of 8.8T VND at a net margin of 35.2%. Revenue grew 101.7% year over year. It earns a return on equity of 5.9%. Net debt stands at 62.8T VND. Fundamentals as of Jul 12, 2026

Our scenario range runs from 7,867 VND (bear case) to 13,112 VND (bull case); at 13,900 VND, the current price sits above 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 29% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -30% fair-value upside, at -25%, NVL 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income 14,129 VND 13,901 VND 12,512 VND 76
P/S Multiple 9,256 VND 12,341 VND 15,426 VND 58
P/B Multiple 9,256 VND 12,341 VND 15,426 VND 55
All 6 models by family
Multiples
P/S Multiple 9,256 VND 12,341 VND 15,426 VND 58
P/B Multiple 9,256 VND 12,341 VND 15,426 VND 55
EV/EBIT 2,037 VND 53
EV/EBITDA 3,674 VND 7,848 VND 54
Asset-Based
NCAV (Graham) 9,428 VND 12,634 VND 18,857 VND 50
Economic Profit
Residual Income 14,129 VND 13,901 VND 12,512 VND 76

Widest divergence: Economic Profit (13,901 VND) versus Multiples (12,341 VND). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 8.8T VND
Revenue growth (YoY) +102%
Net margin 35.2%
Return on equity 5.9%
Free cash flow −6.2T VND FY2025
P/E ratio 9.1
More key figures
Operating margin 42.2%
EPS (TTM) 1,389 VND
EPS growth (YoY) +1,739%
Net debt 62.8T VND FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 32/100

Of which business quality 29 · Market factors (momentum, volatility) 43

Profitability 31
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 12
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 18
Buybacks instead of dilution

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

No Va Land Investment Group Corporation, together with its subsidiaries, engages in real estate trading in Vietnam. The company engages in the residence project development; civil and industrial construction; and provision of design and management consultancy services, as well as real estate brokerage services.

Full company description

No Va Land Investment Group Corporation, together with its subsidiaries, engages in real estate trading in Vietnam. The company engages in the residence project development; civil and industrial construction; and provision of design and management consultancy services, as well as real estate brokerage services. It is also involved in the leasing of factories and warehouses; management and investment consulting; short-term accommodation; and land use right auction activities, as well as real estate consulting and auction activities; and building picnic resorts. The company was formerly known as Thanh Nhon Trading Limited. No Va Land Investment Group Corporation was incorporated in 1992 and is headquartered in Ho Chi Minh City, Vietnam.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

No Va Land Investment Group reported revenue of 7.0T VND in FY2025 versus 14.9T VND in FY2021, a compound −17.3%/yr. Reported net income was 1.7T VND in FY2025, compounding −14.2%/yr from FY2021.

Growth Quality 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
7.0T VND
Latest YoY
−23.2%
Avg. growth/yr (3Y)
−14.5%
Avg. growth/yr (5Y)
+6.7%
Avg. growth/yr (6Y)
−7.2%
Revenue −17.3%/yr
FY21 14.9T VND
FY22 11.1T VND
FY23 4.8T VND
FY24 9.1T VND
FY25 7.0T VND
Net income −14.2%/yr
FY21 3.2T VND
FY22 2.2T VND
FY23 606B VND
FY24 −6.5T VND
FY25 1.7T VND

NVL screens 25% overvalued. Compare with Swiss Prime Site AG →

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Cite: Fair Value Calculator (2026). "No Va Land Investment Group Fair Value". https://www.fairvalue-calculator.com/stock/NVL

Peer Group

Real Estate - Diversified · 138 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.

Quality Score 33 · Bottom 25%
Fair Value upside −25% · Below median
Return on equity (TTM) 6% · Above median
Return on assets 1% · Below median
Net margin (TTM) 35% · Top 25%
Operating margin (TTM) 42% · Above median
Revenue growth 102% · Top 25%
Debt / equity 0.79× · Higher than median

Valuation Multiples vs Real Estate - Diversified median · lower = cheaper

P/E (TTM) 9.1× · Cheaper than median
P/B 0.67× · Pricier than median
P/S (TTM) 3.45× · Pricier than median
EV/EBITDA 12.8× · Pricier than median

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.

VALUE 1 · sector 46
FUTURE 100 · sector 33
PAST 24 · sector 17
HEALTH 61 · sector 75
DIVIDEND 0 · sector 45

Insider activity: 20/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is No Va Land Investment Group (NVL) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 10,490 VND versus a price of 13,900 VND, about −25% (overvalued).
What is the fair value of NVL?
Our model-based fair value for No Va Land Investment Group is 10,490 VND (as of Jul 12, 2026), built from audited fundamentals. The current price is 13,900 VND.
What is the quality score of NVL?
No Va Land Investment Group has a Quality Score of 32/100. 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 revenue of No Va Land Investment Group (NVL)?
No Va Land Investment Group reported trailing-twelve-month revenue of about 8.8T VND (latest available figure, as of Jul 12, 2026).
What is the net profit margin of NVL?
The net profit margin of No Va Land Investment Group is about 35.2%, meaning it keeps roughly 35.2% 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.

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