Tien Phong Securities Corporation (ORS) Fair Value & Analysis
Financial Services · VN · Market cap 8.7T VND
Fair value as of: Jul 19, 2026
From 2 valuation models · updated 22 days ago
Share price +3.6% over the past month.
Below-average quality, and screening another 81% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (3,430 VND). The favourable scenario is already priced in.
- Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (16 months)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
16‑month range 7,450 VND – 16,600 VND · fair‑value band 2,058 VND – 3,430 VND · the 14,200 VND price screens above the 2,744 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Tien Phong Securities Corporation (ORS) currently trades at 14,200 VND, while our model-based Fair Value estimate is 2,744 VND, implying the stock looks roughly 80.7% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Financial Services 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: high).
Over the trailing twelve months, Tien Phong Securities Corporation generated revenue of 91.1B VND at a net margin of 27.3%. Revenue declined 51.1% year over year. It earns a return on equity of 16.5%. Net debt stands at 393B VND. Fundamentals as of Jul 19, 2026
Our scenario range runs from 2,058 VND (bear case) to 3,430 VND (bull case); at 14,200 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 16% below its 52-week high and 58% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -81%, ORS screens richer 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.
All 2 models by family
Widest divergence: Multiples (10,406 VND) versus Asset-Based (8,202 VND). Highest evidence: P/B Multiple (55).
Notify me when ORS reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 45 · Market factors (momentum, volatility) 59
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
Tien Phong Securities Corporation engages in the provision of brokerage and asset management services in Vietnam. It operates through Brokerage and Customer Service; Proprietary Trading of Listed Shares; Private Bond Trading; Financial Advisory; and General Management segments.
Full company description
Tien Phong Securities Corporation engages in the provision of brokerage and asset management services in Vietnam. It operates through Brokerage and Customer Service; Proprietary Trading of Listed Shares; Private Bond Trading; Financial Advisory; and General Management segments. The company provides securities services for brokerage, financial and investment consultancy, depository, trading, custody, trust, and underwriting. Tien Phong Securities Corporation was formerly known as Phuong Dong Securities Joint Stock Company. The company was founded in 2006 and is headquartered in Hanoi, Vietnam. Tien Phong Securities Corporation operates as a subsidiary of Tien Phong Commercial Joint Stock Bank.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Tien Phong Securities Corporation reported revenue of 307B VND in FY2025 versus 1.1T VND in FY2021, a compound −26.7%/yr. Reported net income was 118B VND in FY2025, compounding −13.4%/yr from FY2021.
ORS screens 81% overvalued. Compare with Huatai Securities Co →
Peer Group
Capital Markets · 423 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.
Valuation Multiples vs Capital Markets median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Huatai Securities Co HTSC | $0.2700 | $0.0400 | -85% |
| Mirae Asset Securities Co 006800 | 38,750 KRW | 31,645 KRW | -18% |
| Meritz Financial Group 138040 | 117,000 KRW | 87,706 KRW | -25% |
| Korea Investment Holdings 071050 | 239,000 KRW | 318,825 KRW | +33% |
| NH Investment & Securities Co 005940 | 31,000 KRW | 37,133 KRW | +20% |
| Samsung Securities Co 016360 | 107,700 KRW | 126,487 KRW | +17% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹967.00 | ₹299.65 | -69% |
| Kiwoom Securities Co 039490 | 322,000 KRW | 358,091 KRW | +11% |
| SSI Securities Corporation SSI | 24,250 VND | 28,021 VND | +16% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 120.22 ARS | -62% |
Compare Tien Phong Securities Corporation with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Financial Services stocks →
Frequently asked questions
Is Tien Phong Securities Corporation (ORS) overvalued or undervalued?
What is the fair value of ORS?
What is the quality score of ORS?
What is the revenue of Tien Phong Securities Corporation (ORS)?
What is the net profit margin of ORS?
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.
Track Tien Phong Securities Corporation and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.