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Phat Dat Real Estate Development Corporation (PDR) Fair Value & Analysis

Real Estate · VN · Market cap 14.1T VND

PD Phat Dat Real Estate Development Corporation PDR · VN
Price11,900 VND
Fair Value4,202 VND
Upside-64.7%
Quality31/100
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Weak Growth
Highly profitable · 60.2% net margin
Low debt · negative free cash flow
Trails peers (2/12)
Narrow moat 38/100
Evidence: High Range 4,202 VND – 6,353 VND Share as image

Fair value as of: Jul 13, 2026

From 9 valuation models · updated 28 days ago

Share price −17.4% over the past month.

Below-average quality, and screening another 65% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (6,353 VND). The favourable scenario is already priced in.
  • Weak quality (31/100) 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)

65,621 VND 9,125 VND Fair Value 4,202 VND Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 9,125 VND – 65,621 VND · fair‑value band 4,202 VND – 6,353 VND · the 11,900 VND price screens above the 4,202 VND fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Phat Dat Real Estate Development Corporation (PDR) currently trades at 11,900 VND, while our model-based Fair Value estimate is 4,202 VND, implying the stock looks roughly 64.7% overvalued today. The Quality Score stands at 31/100 (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: high).

Over the trailing twelve months, Phat Dat Real Estate Development Corporation generated revenue of 991B VND at a net margin of 60.2%. Revenue declined 76.2% year over year. It earns a return on equity of 5.1%. Net debt stands at 5.2T VND. Fundamentals as of Jul 13, 2026

Our scenario range runs from 4,202 VND (bear case) to 6,353 VND (bull case); at 11,900 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 56% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -65%, PDR 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income 9,374 VND 9,287 VND 8,528 VND 76
Gordon GGM 0.5000 VND 1.08 VND 1.82 VND 70
DDM Multi-Stage 0.5000 VND 0.8900 VND 1.13 VND 61
All 9 models by family
Dividend Discount
Gordon GGM 0.5000 VND 1.08 VND 1.82 VND 70
DDM Multi-Stage 0.5000 VND 0.8900 VND 1.13 VND 61
Multiples
P/S Multiple 6,473 VND 8,631 VND 10,789 VND 58
P/B Multiple 6,582 VND 8,775 VND 10,969 VND 55
EV/EBIT 3,521 VND 6,052 VND 8,582 VND 53
EV/EBITDA 1,956 VND 3,964 VND 5,973 VND 54
EV/Revenue 116.12 VND 1,911 VND 3,705 VND 43
Asset-Based
NCAV (Graham) 6,200 VND 8,308 VND 12,400 VND 50
Economic Profit
Residual Income 9,374 VND 9,287 VND 8,528 VND 76

Widest divergence: Economic Profit (9,287 VND) versus Dividend Discount (0.8900 VND). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 991B VND
Revenue growth (YoY) -76.2%
Net margin 60.2%
Return on equity 5.1%
Free cash flow −3.0T VND FY2025
P/E ratio 23.3
More key figures
Operating margin -6.9%
EPS (TTM) 608.37 VND
EPS growth (YoY) +153%
Net debt 5.2T VND FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 31/100

Of which business quality 31 · Market factors (momentum, volatility) 25

Profitability 32
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 0
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

Phat Dat Real Estate Development Corporation, together with its subsidiaries, engages in the purchase, sale, construction, and leasing of real estate properties in Vietnam.

Full company description

Phat Dat Real Estate Development Corporation, together with its subsidiaries, engages in the purchase, sale, construction, and leasing of real estate properties in Vietnam. The company undertakes civil and industrial, and transport infrastructure works; and provides real estate brokerage, trading, and valuation services, as well as floor and property management services. It also constructs and trades in residential properties. Phat Dat Real Estate Development Corporation was incorporated in 2004 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

Phat Dat Real Estate Development Corporation reported revenue of 1.3T VND in FY2025 versus 3.6T VND in FY2021, a compound −22.2%/yr. Reported net income was 515B VND in FY2025, compounding −27.5%/yr from FY2021.

Growth Quality 25/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.3T VND
Latest YoY
+61.2%
Avg. growth/yr (3Y)
−4.1%
Avg. growth/yr (5Y)
−19.5%
Avg. growth/yr (6Y)
−14.5%
Revenue −22.2%/yr
FY21 3.6T VND
FY22 1.5T VND
FY23 618B VND
FY24 822B VND
FY25 1.3T VND
Net income −27.5%/yr
FY21 1.9T VND
FY22 1.1T VND
FY23 684B VND
FY24 155B VND
FY25 515B VND

PDR screens 65% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Phat Dat Real Estate Development Corporation Fair Value". https://www.fairvalue-calculator.com/stock/PDR

Peer Group

Real Estate - Development · 588 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 32 · Bottom 25%
Fair Value upside −65% · Bottom 25%
Return on equity (TTM) 5% · Above median
Return on assets 1% · Below median
Net margin (TTM) 60% · Top 25%
Operating margin (TTM) -7% · Bottom 25%
Revenue growth -76% · Bottom 25%
Debt / equity 0.36× · Higher than median

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

P/E (TTM) 23.3× · Pricier than median
P/B 1.14× · Pricier than 75% of peers
P/S (TTM) 14.24× · Pricier than 75% of peers
EV/EBITDA 54.4× · Pricier 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 0 · sector 48
FUTURE 0 · sector 0
PAST 20 · sector 10
HEALTH 82 · sector 84
DIVIDEND 0 · sector 38

VALUE 0: the price sits above our fair-value range.

Insider activity: 35/100

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.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Phat Dat Real Estate Development Corporation (PDR) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 4,202 VND versus a price of 11,900 VND, about −65% (overvalued).
What is the fair value of PDR?
Our model-based fair value for Phat Dat Real Estate Development Corporation is 4,202 VND (as of Jul 13, 2026), built from audited fundamentals. The current price is 11,900 VND.
What is the quality score of PDR?
Phat Dat Real Estate Development Corporation has a Quality Score of 31/100. 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 Phat Dat Real Estate Development Corporation (PDR)?
Phat Dat Real Estate Development Corporation reported trailing-twelve-month revenue of about 991B VND (latest available figure, as of Jul 13, 2026).
What is the net profit margin of PDR?
The net profit margin of Phat Dat Real Estate Development Corporation is about 60.2%, meaning it keeps roughly 60.2% 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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