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SSI Securities Corp (SSI) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of SSI Securities Corp VND 21,428, price VND 20,850, upside +2.8%, quality 29 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Financial Services · VN · ISIN VN000000SSI1

SS Thin data Sep 24, 2026

SSI Securities Corp

SSI · VN

Low PriorityFair Value upside is limited and quality is weak.

·Fair value 21,428 VND · Fairly valued (+3%)
!Quality 29/100
!Expensive Growth (revenue 5y +19.3 %/yr)
✓Highly profitable · 41.1% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (9/13)
✓Wide moat 69/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

29,921 VND 7,285 VND Fair Value 21,428 VND Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 7,285 VND – 29,921 VND · fair‑value band 16,071 VND – 26,785 VND · the 20,850 VND price screens below the 21,428 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

SSI Securities Corporation provides financial products and services in Vietnam.

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SSI Securities Corporation provides financial products and services in Vietnam. The company offers securities products and services, including account opening, brokerage, order placing, advisory, cash transactions, securities depository, and consultancy and support for OTC transactions; distribution of open-ended fund certificates, ETFs, certificates of deposit and corporate bond; initial public offering, and coverage warrants auction house; trades in covered warrants; and financial, e-trading, research and investment, and wealth management services for individual clients. It also engages in investing in equity, bond, fund certificate, and derivative; treasury services; and investment banking activities comprising corporate financing, merger and acquisitions, and advisory for capital raising in domestic and international markets. In addition, the company provides asset management services, including fund and portfolio management, and investment advisory services. The company was incorporated in 1999 and is headquartered in Ho Chi Minh City, Vietnam.

Stock analysis

SSI Securities Corp (SSI) currently trades at 20,850 VND, while our model-based Fair Value estimate is 21,428 VND, implying the stock looks roughly 2.7% fairly valued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 82,498 VND per share, and 4 of the 9 models we run sit above the 20,850 VND price.

Bear case: the Asset-Based group reads lowest at 8,589 VND, and 5 of the 9 models stay below the price. Evidence for this calculation is low.

Scenario range: 16,071 VND (bear) to 26,785 VND (bull), the price of 20,850 VND sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 29/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

SSI Securities Corp reported revenue of 6.3T VND in FY2025 versus 4.4T VND in FY2021, a compound +9.3%/yr. Reported net income was 4.1T VND in FY2025, compounding +11.1%/yr from FY2021.

Key figures

Market cap 60.4T VND · P/E ratio 10.1 · P/S ratio 6.60 · EPS (TTM) 2,061 VND · Dividend yield 3.4% · Net margin 65.3% · Return on equity 13.5% · Return on assets (EBIT) 4.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at 3%, SSI screens cheaper than that median.

Fair Value models

Bear 16,071 VND Fair Value 21,428 VND Bull 26,785 VND
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1,508 VND per share) are deliberately not added. 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income 11,980 VND 14,213 VND 27,179 VND 72
Owner Earnings 38,389 VND 82,498 VND 170,523 VND 71
Gordon GGM 7,317 VND 14,580 VND 22,078 VND 67
All 9 models by family
DCF Models
Owner Earnings 38,389 VND 82,498 VND 170,523 VND 71
Earnings-Based
Graham-Dodd 11,208 VND 76,265 VND 106,913 VND 63
Lynch FV 22,396 VND 31,994 VND 41,592 VND 61
Dividend Discount
Gordon GGM 7,317 VND 14,580 VND 22,078 VND 67
DDM Multi-Stage 7,317 VND 12,600 VND 15,390 VND 67
Multiples
P/E Multiple 16,071 VND 21,428 VND 26,785 VND 63
P/B Multiple 13,461 VND 17,948 VND 22,435 VND 55
Asset-Based
NCAV (Graham) 6,410 VND 8,589 VND 12,820 VND 54
Economic Profit
Residual Income 11,980 VND 14,213 VND 27,179 VND 72

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Quality Score breakdown

Overall quality 29/100

Of which business quality 26 · Market factors (momentum, volatility) 33

Profitability 40
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 19
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 11
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+22.8%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+18.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+19.3%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+19.5%
What shareholders gained per year (last 5 years), in VND ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in VND: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.9%
Dividend (yield on the price)3.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.70% → 65%

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Peer Groupⓘ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.Capital Markets · 463 stocks

Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 30 · Bottom 25%
Fair Value upside +3% · Above median
Profitability
Return on equity (TTM) 13% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 41% · Top 25%
Operating margin (TTM) 78% · Top 25%
Growth and dividend
Revenue growth 47% · Above median
Dividend yield (TTM) 3.4% · Above median
Balance sheet
Debt / equity 0.04× · Below median

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/E (TTM) 10.1× · Cheaper than median
P/B 1.89× · Pricier than median
P/S (TTM) 5.47× · Pricier than median
EV/EBITDA 17.6× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)37 · sector 27
FUTURE (revenue growth)100 · sector 91
PAST (return on equity)54 · sector 30
HEALTH (low debt)98 · sector 95
DIVIDEND (yield)69 · sector 41

Context: sector, industry, market

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

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Morgan Stanley, a financial holding company, MS $200.18 $312.73 +56%
The Goldman Sachs Group GS $949.49 $756.89 −20%
The Charles Schwab Corporation SCHW $100.35 $117.26 +17%
Interactive Brokers Group IBKR $91.88 $23.37 −75%
Robinhood Markets, Inc HOOD $124.25 $47.73 −62%
Macquarie Group MQG A$242.35 A$75.58 −69%
CITIC Securities Company 600030 ¥26.79 ¥18.35 −32%
Guotai Haitong Securities Co 601211 ¥17.67 ¥19.29 +9%
East Money Information Co 300059 ¥18.77 ¥4.94 −74%
CSC Financial Co 601066 ¥23.67 ¥39.83 +68%

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SSI Securities Corp · Fair Value
21,428 VND +3%Fair Value
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Cite: Fair Value Calculator (2026). "SSI Securities Corp Fair Value". https://www.fairvalue-calculator.com/stock/SSI

Frequently asked questions

Is SSI Securities Corp (SSI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 21,428 VND versus a price of 20,850 VND, about +3% upside (fairly valued).
What is the fair value of SSI?
Our model-based fair value for SSI Securities Corp is 21,428 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 20,850 VND.
What is the quality score of SSI?
SSI Securities Corp has a Quality Score of 29/100. 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 price target for SSI Securities Corp (SSI)?
Our model-based price target is the fair value of 21,428 VND (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 16,071 VND, optimistic scenario 26,785 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the SSI Securities Corp stock forecast for 2026?
Our models put fair value at 21,428 VND, about +3% upside versus a price of 20,850 VND (fairly valued). Cautious scenario 16,071 VND, optimistic scenario 26,785 VND. The calculation is refreshed regularly with new filings.
What is the revenue of SSI Securities Corp (SSI)?
SSI Securities Corp reported trailing-twelve-month revenue of about 11.0T VND (latest available figure, as of Sep 24, 2026).
Does SSI Securities Corp pay a dividend?
SSI Securities Corp currently shows a dividend yield of about 3.44% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of SSI Securities Corp (SSI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SSI Securities Corp it is 21,428 VND per share (as of Sep 24, 2026), against a price of 20,850 VND. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is SSI Securities Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SSI trades below its calculated fair value: price 20,850 VND, fair value 21,428 VND, a gap of about +3% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SSI?
No. The price is what the market pays today (20,850 VND); the fair value is what the company's own numbers justify (21,428 VND). For SSI Securities Corp the two are 577.97 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is SSI Securities Corp worth?
The market values SSI Securities Corp at about 60.4T VND (market capitalisation, as of Sep 24, 2026). Per share that is 20,850 VND; our models calculate a fair value of 21,428 VND per share.
What do the bullish and bearish scenarios say about SSI?
Our models span a range for SSI Securities Corp: cautious scenario 16,071 VND, base 21,428 VND, optimistic 26,785 VND per share (as of Sep 24, 2026, price 20,850 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SSI?
SSI Securities Corp trades at a price-to-earnings ratio of 10.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 21,428 VND is built from several models across several years. Other multiples: P/B 1.9, P/S 5.5, EV/EBITDA 17.6.
How solid is the balance sheet of SSI Securities Corp (SSI)?
Balance-sheet figures for SSI Securities Corp (as of Sep 24, 2026): return on equity 13.5%, debt of 0.04 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is SSI from its 52-week high?
SSI Securities Corp trades at 20,850 VND, about 30% below its 52-week high of 29,921 VND and 20% above the low of 17,435 VND (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 21,428 VND is for.
Which stocks are comparable to SSI Securities Corp?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SSI Securities Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 20,850 VND, calculated fair value 21,428 VND (+3%), Quality Score 29/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SSI calculated?
We run SSI Securities Corp through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 21,428 VND, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. SSI Securities Corp currently trades 3 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SSI Securities Corp (SSI)?
The closing price on Sep 23, 2026 was 20,850 VND. Our model-based fair value is 21,428 VND, about +3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SSI Securities Corp right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of SSI Securities Corp

How large is the market capitalisation of SSI Securities Corp (SSI)?
The market capitalisation of SSI Securities Corp is 60.4T VND. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SSI Securities Corp (SSI)?
The price-to-sales ratio of SSI Securities Corp is 6.60 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SSI Securities Corp (SSI)?
Earnings per share at SSI Securities Corp are 2,061 VND (price ÷ EPS = P/E 10.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SSI Securities Corp (SSI)?
The dividend yield of SSI Securities Corp is 3.4% (payout 34.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of SSI Securities Corp (SSI)?
The net margin of SSI Securities Corp is 65.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SSI Securities Corp (SSI)?
The return on equity (ROE) of SSI Securities Corp is 13.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SSI Securities Corp (SSI)?
On an EBIT basis the return on assets of SSI Securities Corp is 4.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SSI Securities Corp (SSI)?
The operating margin of SSI Securities Corp is 78.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SSI Securities Corp (SSI)?
Revenue at SSI Securities Corp is growing +46.7% versus a year earlier (3y avg +18.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SSI Securities Corp (SSI)?
Earnings per share at SSI Securities Corp are growing +19.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SSI Securities Corp (SSI) generate?
The free cash flow of SSI Securities Corp is −10.6T VND (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does SSI Securities Corp (SSI) carry?
The net debt of SSI Securities Corp is 56.5T VND (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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