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PC1 Group (PC1) Fair Value & Analysis

Industrials · VN · Market cap 9.0T VND

PG PC1 Group PC1 · VN
Price20,650 VND
Fair Value45,196 VND
Upside+118.9%
Quality42/100
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Healthy Growth
Thin margins · 8.7% net margin
Moderate debt · generates free cash flow
Ranks above peers (9/13)
Moderate moat 54/100
Evidence: Medium Range 31,381 VND – 78,751 VND Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 24 days ago

Share price −2.8% over the past month.

Below-average quality, screening 119% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (31,381 VND). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (31,381 VND to 78,751 VND) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

31,350 VND 8,318 VND Fair Value 45,196 VND Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 8,318 VND – 31,350 VND · fair‑value band 31,381 VND – 78,751 VND · the 20,650 VND price screens below the 45,196 VND fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

PC1 Group (PC1) currently trades at 20,650 VND, while our model-based Fair Value estimate is 45,196 VND, implying the stock looks roughly 118.9% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, PC1 Group generated revenue of 13.4T VND at a net margin of 8.7%. Revenue grew 16.5% year over year. It earns a return on equity of 17.6%. Net debt stands at 7.9T VND. Fundamentals as of Jul 17, 2026

Our scenario range runs from 31,381 VND (bear case) to 78,751 VND (bull case); at 20,650 VND, the current price sits below 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 36% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 119%, PC1 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 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
Highest evidence
Growth DCF 27,377 VND 64,072 VND 138,325 VND 80
Residual Income 17,563 VND 23,706 VND 87,157 VND 76
Rev-Margin DCF 32,553 VND 76,667 VND 143,437 VND 74
All 26 models by family
DCF Models
FCF DCF 29,187 VND 55,631 VND 135,701 VND 38
Owner Earnings 14,272 VND 45,317 VND 113,405 VND 31
5Y Revenue Exit 32,553 VND 70,602 VND 145,879 VND 39
5Y EBITDA Exit 52,030 VND 112,374 VND 224,312 VND 41
5Y P/E Exit 30,316 VND 74,221 VND 131,284 VND 38
10Y Revenue Exit 29,966 VND 78,051 VND 132,935 VND 36
10Y EBITDA Exit 45,814 VND 116,510 VND 250,685 VND 37
10Y P/E Exit 30,089 VND 73,633 VND 149,736 VND 35
Earnings-Based
Graham-Dodd 17,218 VND 120,073 VND 168,505 VND 54
Lynch FV 36,919 VND 52,742 VND 68,564 VND 50
PEG = 1.0 36,919 VND 52,742 VND 68,564 VND 46
EPV 36,182 VND 44,128 VND 51,191 VND 59
Dividend Discount
Gordon GGM 4,766 VND 10,404 VND 17,506 VND 70
DDM Multi-Stage 4,766 VND 8,523 VND 10,843 VND 61
Multiples
P/E Multiple 39,879 VND 53,172 VND 66,465 VND 63
P/S Multiple 32,283 VND 43,044 VND 53,805 VND 58
P/B Multiple 32,283 VND 43,044 VND 53,805 VND 55
EV/EBIT 54,943 VND 76,204 VND 97,466 VND 53
EV/EBITDA 60,838 VND 84,064 VND 107,291 VND 54
EV/Revenue 31,244 VND 48,424 VND 65,603 VND 43
Asset-Based
NCAV (Graham) 7,926 VND 10,621 VND 15,852 VND 50
Growth DCF
Growth DCF 27,377 VND 64,072 VND 138,325 VND 80
Rev-Margin DCF 32,553 VND 76,667 VND 143,437 VND 74
Economic Profit
Residual Income 17,563 VND 23,706 VND 87,157 VND 76
ROIC Compounder 48,689 VND 79,824 VND 110,824 VND 72
Growth Earnings
Growth-Adj P/E 49,888 VND 71,268 VND 92,648 VND 68

Widest divergence: DCF Models (73,633 VND) versus Dividend Discount (8,523 VND). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 13.4T VND
Revenue growth (YoY) +16.5%
Net margin 8.7%
Return on equity 17.6%
Free cash flow 921B VND FY2025
P/E ratio 8.8
More key figures
Operating margin 15.7%
EPS (TTM) 2,484 VND
EPS growth (YoY) +228%
Net debt 7.9T VND FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 40 · Market factors (momentum, volatility) 41

Profitability 39
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 0
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

PC1 Group Joint Stock Company engages in the construction, industrial production, real estate, energy, trading, exploitation and operation of industrial zone, mining, and other businesses in Vietnam.

Full company description

PC1 Group Joint Stock Company engages in the construction, industrial production, real estate, energy, trading, exploitation and operation of industrial zone, mining, and other businesses in Vietnam. The company engages in construction of other engineering works comprising construction and installation of power transmission lines and transformer stations, power source facilities, industrial and civil works, infrastructure engineering, traffic, irrigation, and post and telecommunication facilities. It is also involved in production, transmission, and distribution of electricity; installation of electrical systems; surface preparation; wholesale of metals and metal ores; production of metal structures; forging, stamping, pressing, and rolling of metal; metal powder smelting; import and export of goods; and measuring cadastral maps, clearing land plots, and extracting and measuring land plots for land compensation purposes. In addition, the company engages in the trading of real estate; investment in the creation of houses; construction works for sale, lease, or lease purchase; rental of houses; construction works for sale and lease; investment in infrastructure facilities on leased land to lease land with infrastructure; receive and rent land use rights with infrastructure for sublease; and production and fabrication of steel towers, hot-dip galvanizing, and metal structures for civil and industrial facilities. Further, it provides real estate consulting, real estate brokerage, real estate valuation, real estate advertising, and real estate management services; and management, operation, and exploitation services for urban areas and multi-story apartment buildings, as well as real estate and land use right auction services. The company was formerly known as Power Construction JSC No.1 and changed its name to PC1 Group Joint Stock Company in March 2022. The company was founded in 1963 and is based in Hanoi, Vietnam.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PC1 Group reported revenue of 13.1T VND in FY2025 versus 9.8T VND in FY2021, a compound +7.4%/yr. Reported net income was 1.0T VND in FY2025, compounding +10.6%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
13.1T VND
Latest YoY
+29.7%
Avg. growth/yr (3Y) 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.
+16.1%
Avg. growth/yr (5Y) 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.
+14.4%
Avg. growth/yr (6Y) 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.
+14.4%
Revenue +7.4%/yr
FY21 9.8T VND
FY22 8.4T VND
FY23 7.7T VND
FY24 10.1T VND
FY25 13.1T VND
Net income +10.6%/yr
FY21 695B VND
FY22 460B VND
FY23 36.2B VND
FY24 468B VND
FY25 1.0T VND

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Cite: Fair Value Calculator (2026). "PC1 Group Fair Value". https://www.fairvalue-calculator.com/stock/PC1

Peer Group

Engineering & Construction · 839 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 42 · Below median
Fair Value upside +119% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 16% · Top 25%
Revenue growth 17% · Above median
Debt / equity 1.14× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 8.8× · Cheaper than 75% of peers
P/B 1.38× · Pricier than median
P/S (TTM) 0.67× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 4.3× · Cheaper than 75% of peers

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 100 · sector 16
FUTURE 83 · sector 17
PAST 70 · sector 26
HEALTH 43 · sector 94
DIVIDEND 0 · sector 33

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.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is PC1 Group (PC1) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 45,196 VND versus a price of 20,650 VND, about +119% (undervalued).
What is the fair value of PC1?
Our model-based fair value for PC1 Group is 45,196 VND (as of Jul 17, 2026), built from audited fundamentals. The current price is 20,650 VND.
What is the quality score of PC1?
PC1 Group has a Quality Score of 42/100. 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 PC1 Group (PC1)?
PC1 Group reported trailing-twelve-month revenue of about 13.4T VND (latest available figure, as of Jul 17, 2026).
What is the net profit margin of PC1?
The net profit margin of PC1 Group is about 8.7%, meaning it keeps roughly 8.7% 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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