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Refrigeration Electrical Engineering Corporation (REE) Fair Value & Analysis

Industrials · VN · Market cap 29.4T VND

RE Refrigeration Electrical Engineering Corporation REE · VN
Price47,100 VND
Fair Value61,694 VND
Upside+31.0%
Quality56/100
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Expensive Growth
Highly profitable · 25.3% net margin
Low debt · generates free cash flow
1.84% dividend yield
Ranks above peers (11/14)
Wide moat 72/100
Evidence: Medium Range 32,794 VND – 92,306 VND Share as image

Fair value as of: Jul 13, 2026

From 24 valuation models · updated 27 days ago

Share price −0.2% over the past month.

A solid business, screening 31% undervalued on our models.

What matters now

  • The model range is unusually wide (32,794 VND to 92,306 VND). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

62,348 VND 22,923 VND Fair Value 61,694 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 22,923 VND – 62,348 VND · fair‑value band 32,794 VND – 92,306 VND · the 47,100 VND price screens below the 61,694 VND fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Refrigeration Electrical Engineering Corporation (REE) currently trades at 47,100 VND, while our model-based Fair Value estimate is 61,694 VND, implying the stock looks roughly 31.0% undervalued today. The Quality Score stands at 56/100 (solid 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, Refrigeration Electrical Engineering Corporation generated revenue of 10.4T VND at a net margin of 25.3%. Revenue grew 19.5% year over year. It earns a return on equity of 13.6%. Net debt stands at 7.8T VND. Fundamentals as of Jul 13, 2026

Our scenario range runs from 32,794 VND (bear case) to 92,306 VND (bull case); at 47,100 VND, the current price sits within 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 27% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 31%, REE 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
Growth DCF 4,045 VND 13,976 VND 31,069 VND 80
Residual Income 31,704 VND 38,437 VND 85,529 VND 76
Rev-Margin DCF 7,723 VND 20,958 VND 37,059 VND 74
All 24 models by family
DCF Models
FCF DCF 3,918 VND 14,032 VND 31,284 VND 38
Owner Earnings 28,539 VND 56,328 VND 103,733 VND 31
5Y Revenue Exit 7,723 VND 21,279 VND 39,303 VND 39
5Y EBITDA Exit 37,344 VND 79,414 VND 131,096 VND 41
5Y P/E Exit 33,752 VND 72,363 VND 115,176 VND 38
10Y Revenue Exit 5,651 VND 18,131 VND 36,360 VND 36
10Y EBITDA Exit 26,023 VND 60,524 VND 111,354 VND 37
10Y P/E Exit 23,635 VND 55,383 VND 98,348 VND 35
Earnings-Based
Graham-Dodd 27,609 VND 106,316 VND 144,098 VND 54
Lynch FV 25,977 VND 37,110 VND 48,243 VND 50
PEG = 1.0 25,977 VND 37,110 VND 48,243 VND 46
EPV 33,337 VND 41,014 VND 47,839 VND 59
Multiples
P/E Multiple 63,948 VND 85,264 VND 106,580 VND 63
P/S Multiple 24,109 VND 32,145 VND 40,181 VND 58
P/B Multiple 51,768 VND 69,023 VND 86,279 VND 55
EV/EBIT 52,735 VND 73,702 VND 94,670 VND 53
EV/EBITDA 59,611 VND 82,871 VND 106,131 VND 54
EV/Revenue 10,083 VND 18,762 VND 27,441 VND 43
Asset-Based
NCAV (Graham) 16,813 VND 22,529 VND 33,626 VND 50
Growth DCF
Growth DCF 4,045 VND 13,976 VND 31,069 VND 80
Rev-Margin DCF 7,723 VND 20,958 VND 37,059 VND 74
Economic Profit
Residual Income 31,704 VND 38,437 VND 85,529 VND 76
ROIC Compounder 33,337 VND 47,843 VND 69,158 VND 72
Growth Earnings
Growth-Adj P/E 46,942 VND 67,060 VND 87,177 VND 68

Widest divergence: Multiples (69,023 VND) versus Growth DCF (13,976 VND). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 10.4T VND
Revenue growth (YoY) +19.5%
Net margin 25.3%
Return on equity 13.6%
Free cash flow 688B VND FY2025
P/E ratio 16.1
More key figures
Operating margin 36.9%
EPS (TTM) 2,931 VND
Dividend yield 1.8%
EPS growth (YoY) +16.8%
Net debt 7.8T VND FY2025

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

Quality Score breakdown

Overall quality 56/100

Of which business quality 52 · Market factors (momentum, volatility) 40

Profitability 45
Margins and returns on capital today
Quality Growth 71
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 66
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

Refrigeration Electrical Engineering Corporation, together with its subsidiaries, produces, transmits, and distributes renewable electricity using hydro, solar, and wind power in Vietnam. It operates through Mechanical and Refrigeration Electrical Engineering; Real Estate and Office Leasing; Power; and Water segments.

Full company description

Refrigeration Electrical Engineering Corporation, together with its subsidiaries, produces, transmits, and distributes renewable electricity using hydro, solar, and wind power in Vietnam. It operates through Mechanical and Refrigeration Electrical Engineering; Real Estate and Office Leasing; Power; and Water segments. The company offers mechanical and electrical engineering services (M&E), manufacturing, assembling, and sales of air-conditioner systems, and real estate development and management services. It also engages in trading and electricity trading; service supply; digital services; and strategic financial investments in the infrastructure related sector. In addition, the company offers electrical appliances and infrastructure; and office building management and water supply services. Refrigeration Electrical Engineering Corporation 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

Refrigeration Electrical Engineering Corporation reported revenue of 10.0T VND in FY2025 versus 5.8T VND in FY2021, a compound +14.6%/yr. Reported net income was 2.5T VND in FY2025, compounding +8.1%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
10.0T VND
Latest YoY
+19.4%
Avg. growth/yr (3Y)
+2.2%
Avg. growth/yr (5Y)
+12.2%
Avg. growth/yr (6Y)
+12.7%
Revenue +14.6%/yr
FY21 5.8T VND
FY22 9.4T VND
FY23 8.6T VND
FY24 8.4T VND
FY25 10.0T VND
Net income +8.1%/yr
FY21 1.9T VND
FY22 2.7T VND
FY23 2.2T VND
FY24 2.0T VND
FY25 2.5T VND

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Cite: Fair Value Calculator (2026). "Refrigeration Electrical Engineering Corporation Fair Value". https://www.fairvalue-calculator.com/stock/REE

Peer Group

Engineering & Construction · 837 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 56 · Above median
Fair Value upside +31% · Above median
Return on equity (TTM) 14% · Above median
Return on assets 5% · Above median
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 37% · Top 25%
Revenue growth 20% · Above median
Dividend yield (TTM) 1.8% · Above median
Debt / equity 0.45× · Higher than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 16.1× · Cheaper than median
P/B 1.41× · Pricier than median
P/S (TTM) 2.83× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 8.0× · Cheaper 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 75 · sector 16
FUTURE 98 · sector 18
PAST 54 · sector 26
HEALTH 78 · sector 94
DIVIDEND 37 · 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 13, 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 Refrigeration Electrical Engineering Corporation (REE) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 61,694 VND versus a price of 47,100 VND, about +31% (undervalued).
What is the fair value of REE?
Our model-based fair value for Refrigeration Electrical Engineering Corporation is 61,694 VND (as of Jul 13, 2026), built from audited fundamentals. The current price is 47,100 VND.
What is the quality score of REE?
Refrigeration Electrical Engineering Corporation has a Quality Score of 56/100. 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 Refrigeration Electrical Engineering Corporation (REE)?
Refrigeration Electrical Engineering Corporation reported trailing-twelve-month revenue of about 10.4T VND (latest available figure, as of Jul 13, 2026).
What is the net profit margin of REE?
The net profit margin of Refrigeration Electrical Engineering Corporation is about 25.3%, meaning it keeps roughly 25.3% of revenue as net income. Based on the latest reported figures.
Does Refrigeration Electrical Engineering Corporation pay a dividend?
Refrigeration Electrical Engineering Corporation currently shows a dividend yield of about 1.73% relative to its recent price (as of Jul 13, 2026).

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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