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Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT) Fair Value & Analysis

Consumer Defensive · VN · Market cap 19.1T VND

TT Thanh Thanh Cong - Bien Hoa Joint Stock Company SBT · VN
Price21,000 VND
Fair Value12,953 VND
Upside-38.3%
Quality32/100
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Expensive Growth
Thin margins · 2.8% net margin
Moderate debt · negative free cash flow
Trails peers (3/12)
Narrow moat 32/100
Evidence: High Range 9,715 VND – 17,596 VND Share as image

Fair value as of: Jul 17, 2026

From 17 valuation models · updated 24 days ago

Share price −1.2% over the past month.

Below-average quality, and screening another 38% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (17,596 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.
  • A fairly wide model range (9,715 VND to 17,596 VND) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

25,377 VND 7,760 VND Fair Value 12,953 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 7,760 VND – 25,377 VND · fair‑value band 9,715 VND – 17,596 VND · the 21,000 VND price screens above the 12,953 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

Full chart & analysis →

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Analysis

Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT) currently trades at 21,000 VND, while our model-based Fair Value estimate is 12,953 VND, implying the stock looks roughly 38.3% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Consumer Defensive 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, Thanh Thanh Cong - Bien Hoa Joint Stock Company generated revenue of 27.2T VND at a net margin of 2.8%. Revenue grew 12.9% year over year. It earns a return on equity of 6.7%. Net debt stands at 13.1T VND. Fundamentals as of Jul 17, 2026

Our scenario range runs from 9,715 VND (bear case) to 17,596 VND (bull case); at 21,000 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 19% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -45% fair-value upside, at -38%, SBT 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 9,830 VND 10,511 VND 12,166 VND 76
ROIC Compounder 12,934 VND 20,073 VND 26,893 VND 72
Gordon GGM 784.42 VND 1,713 VND 2,881 VND 70
All 17 models by family
DCF Models
Owner Earnings 9,210 VND 21,715 VND 46,532 VND 31
Earnings-Based
Graham-Dodd 6,095 VND 34,708 VND 48,246 VND 54
Lynch FV 9,757 VND 13,939 VND 18,120 VND 50
PEG = 1.0 9,757 VND 13,939 VND 18,120 VND 46
EPV 12,426 VND 15,065 VND 17,410 VND 59
Dividend Discount
Gordon GGM 784.42 VND 1,713 VND 2,881 VND 70
DDM Multi-Stage 784.42 VND 1,403 VND 1,785 VND 61
Multiples
P/E Multiple 14,118 VND 18,824 VND 23,530 VND 63
P/S Multiple 11,429 VND 15,238 VND 19,048 VND 58
P/B Multiple 11,429 VND 15,238 VND 19,048 VND 55
EV/EBIT 18,657 VND 25,718 VND 32,780 VND 53
EV/EBITDA 19,423 VND 26,740 VND 34,057 VND 54
EV/Revenue 12,592 VND 19,072 VND 25,552 VND 43
Asset-Based
NCAV (Graham) 5,896 VND 7,900 VND 11,791 VND 50
Economic Profit
Residual Income 9,830 VND 10,511 VND 12,166 VND 76
ROIC Compounder 12,934 VND 20,073 VND 26,893 VND 72
Growth Earnings
Growth-Adj P/E 14,520 VND 20,743 VND 26,967 VND 68

Widest divergence: DCF Models (21,715 VND) versus Dividend Discount (1,403 VND). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 27.2T VND
Revenue growth (YoY) +12.9%
Net margin 2.8%
Return on equity 6.7%
Free cash flow −1.2T VND FY2025
P/E ratio 27.8
More key figures
Operating margin 3.6%
EPS (TTM) 742.10 VND
EPS growth (YoY) +7.8%
Net debt 13.1T VND FY2025

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

Quality Score breakdown

Overall quality 32/100

Of which business quality 31 · Market factors (momentum, volatility) 51

Profitability 34
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 14
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

Thanh Thanh Cong - Bien Hoa Joint Stock Company, together with its subsidiaries, engages in the production and sale of in sugar and its by-products in Vietnam and internationally.

Full company description

Thanh Thanh Cong - Bien Hoa Joint Stock Company, together with its subsidiaries, engages in the production and sale of in sugar and its by-products in Vietnam and internationally. The company is also involved in the production, transmission, and distribution of electricity; planting sugarcane and industrial crops; producing and trading fertilizers and agricultural materials; production of alcohol and non-alcoholic beverages, mineral and bottled water, soft drinks, fruit juice, soy milk, latex, cassava, and rubber; and cow breeding business. In addition, it engages in constructing civil projects and industrial zone infrastructure; hotels and restaurants businesses; trading of real estate properties, agricultural machines and tools, and oil and gas; rental of houses and apartments; investment activities; and wholesale of commercial goods. Further, the company offers planting and technical advisory; packaging, warehousing, and storage; electrical system installation; and food industry machineries and equipment installation services, as well as technical and consulting management services for the sugar industry. Additionally, it is involved in producing and developing mechanic machineries for sugar canes production; mechanical processing and cattle raising services; and trading of commodities and derivatives. Thanh Thanh Cong - Bien Hoa Joint Stock Company was formerly known as Thanh Thanh Cong Tay Ninh Joint Stock Company and changed its name to Thanh Thanh Cong - Bien Hoa Joint Stock Company in November 2017. The company was incorporated in 1995 and is based in Tan Chau, Vietnam.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Thanh Thanh Cong - Bien Hoa Joint Stock Company reported revenue of 28.5T VND in FY2025 versus 14.9T VND in FY2021, a compound +17.5%/yr. Reported net income was 812B VND in FY2025, compounding +5.9%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
28.5T VND
Latest YoY
−1.9%
Avg. growth/yr (3Y)
+15.8%
Avg. growth/yr (5Y)
+17.2%
Revenue +17.5%/yr
FY21 14.9T VND
FY22 18.3T VND
FY23 24.7T VND
FY24 29.0T VND
FY25 28.5T VND
Net income +5.9%/yr
FY21 645B VND
FY22 875B VND
FY23 537B VND
FY24 748B VND
FY25 812B VND

SBT screens 38% overvalued. Compare with Chocoladefabriken Lindt & Sprüngli AG →

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Cite: Fair Value Calculator (2026). "Thanh Thanh Cong - Bien Hoa Joint Stock Company Fair Value". https://www.fairvalue-calculator.com/stock/SBT

Peer Group

Confectioners · 76 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 −38% · Below median
Return on equity (TTM) 7% · Above median
Return on assets 2% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 4% · Below median
Revenue growth 13% · Top 25%
Debt / equity 0.55× · Higher than 75% of peers

Valuation Multiples vs Confectioners median · lower = cheaper

P/E (TTM) 28.5× · Pricier than median
P/B 1.79× · Pricier than median
P/S (TTM) 0.70× · Pricier than median
EV/EBITDA 15.9× · 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 26
FUTURE 65 · sector 0
PAST 27 · sector 26
HEALTH 73 · sector 91
DIVIDEND 0 · sector 56

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.

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 Confectioners stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Chocoladefabriken Lindt & Sprüngli AG LISN CHF 96,500 CHF 9,874 -90%
Mondelez International, Inc MDLZ $61.00 $27.68 -55%
The Hershey Company HSY $170.27 $91.25 -46%
Barry Callebaut AG BARN CHF 1,100 CHF 711.91 -35%
ORION Corp 271560 127,100 KRW 203,315 KRW +60%
Tootsie Roll Industries, Inc TROLB $39.50 $21.81 -45%
Guangxi Yuegui Guangye Holdings 000833 ¥18.81 ¥9.83 -48%
Cloetta AB CLAB kr 48.88 kr 59.12 +21%
Balrampur Chini Mills Limited BALRAMCHIN ₹586.20 ₹304.54 -48%
PT Yupi Indo Jelly Gum Tbk YUPI 1,320 IDR 1,286 IDR -3%

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Frequently asked questions

Is Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 12,953 VND versus a price of 21,000 VND, about −38% (overvalued).
What is the fair value of SBT?
Our model-based fair value for Thanh Thanh Cong - Bien Hoa Joint Stock Company is 12,953 VND (as of Jul 17, 2026), built from audited fundamentals. The current price is 21,000 VND.
What is the quality score of SBT?
Thanh Thanh Cong - Bien Hoa Joint Stock Company 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 Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT)?
Thanh Thanh Cong - Bien Hoa Joint Stock Company reported trailing-twelve-month revenue of about 27.2T VND (latest available figure, as of Jul 17, 2026).
What is the net profit margin of SBT?
The net profit margin of Thanh Thanh Cong - Bien Hoa Joint Stock Company is about 2.8%, meaning it keeps roughly 2.8% 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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