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Tay Ninh Cable Car Tour Company (TCT) Fair Value & Analysis

Consumer Cyclical · VN · Market cap 242B VND

TN Tay Ninh Cable Car Tour Company TCT · VN
Price17,800 VND
Fair Value15,830 VND
Upside-11.1%
Quality74/100
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Weak Growth
Highly profitable · 54.5% net margin
generates free cash flow
Ranks above peers (8/13)
Moderate moat 64/100
Evidence: High Range 12,223 VND – 19,437 VND Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 29 days ago

Share price −3.0% over the past month.

A solid business, but screening 11% overvalued on our models.

What matters now

  • Our model range runs from 12,223 VND (bear) to 19,437 VND (bull), base 15,830 VND. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 74/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

43,028 VND 15,118 VND Fair Value 15,830 VND Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 15,118 VND – 43,028 VND · fair‑value band 12,223 VND – 19,437 VND · the 17,800 VND price screens above the 15,830 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Tay Ninh Cable Car Tour Company (TCT) currently trades at 17,800 VND, while our model-based Fair Value estimate is 15,830 VND, implying the stock looks roughly 11.1% overvalued today. The Quality Score stands at 74/100 (solid quality), in the Consumer Cyclical 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, Tay Ninh Cable Car Tour Company generated revenue of 40.1B VND at a net margin of 54.5%. Revenue declined 16.2% year over year. It earns a return on equity of 6.1%. The stock trades on a trailing P/E of 11.2. Fundamentals as of Jul 12, 2026

Our scenario range runs from 12,223 VND (bear case) to 19,437 VND (bull case); at 17,800 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 25% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at -11%, TCT 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 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
Residual Income 22,939 VND 24,360 VND 26,880 VND 76
Growth DCF 8,846 VND 11,783 VND 17,009 VND 72
Gordon GGM 4,810 VND 5,289 VND 6,027 VND 70
All 24 models by family
DCF Models
FCF DCF 8,482 VND 11,481 VND 17,253 VND 38
Owner Earnings 22,390 VND 31,281 VND 48,391 VND 31
5Y Revenue Exit 7,457 VND 10,148 VND 14,058 VND 39
5Y EBITDA Exit 8,716 VND 12,329 VND 17,117 VND 41
5Y P/E Exit 20,122 VND 32,082 VND 46,314 VND 38
10Y Revenue Exit 7,623 VND 9,704 VND 11,927 VND 36
10Y EBITDA Exit 8,569 VND 11,084 VND 13,765 VND 37
10Y P/E Exit 15,651 VND 23,583 VND 31,308 VND 35
Earnings-Based
Graham-Dodd 13,558 VND 16,571 VND 18,642 VND 54
EPV 5,410 VND 6,118 VND 6,746 VND 59
Dividend Discount
Gordon GGM 4,810 VND 5,289 VND 6,027 VND 70
DDM Multi-Stage 4,810 VND 6,138 VND 8,060 VND 61
Multiples
P/E Multiple 29,907 VND 39,876 VND 49,845 VND 63
P/S Multiple 6,372 VND 8,496 VND 10,620 VND 58
P/B Multiple 25,421 VND 33,894 VND 42,368 VND 55
EV/EBIT 12,223 VND 15,830 VND 19,437 VND 53
EV/EBITDA 10,115 VND 13,019 VND 15,923 VND 54
EV/Revenue 7,350 VND 9,899 VND 12,447 VND 43
Asset-Based
NCAV (Graham) 13,871 VND 18,587 VND 27,741 VND 50
Growth DCF
Growth DCF 8,846 VND 11,783 VND 17,009 VND 72
Rev-Margin DCF 7,457 VND 10,309 VND 13,817 VND 67
Economic Profit
Residual Income 22,939 VND 24,360 VND 26,880 VND 76
ROIC Compounder 5,410 VND 6,118 VND 6,746 VND 67
Growth Earnings
Growth-Adj P/E 21,158 VND 30,226 VND 39,294 VND 68

Widest divergence: Growth Earnings (30,226 VND) versus Dividend Discount (5,289 VND). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 40.1B VND
Revenue growth (YoY) -16.2%
Net margin 54.5%
Return on equity 6.1%
Free cash flow 8.9B VND FY2025
P/E ratio 11.1
More key figures
Operating margin 33.2%
EPS (TTM) 1,708 VND
EPS growth (YoY) -29.2%

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 69 · Market factors (momentum, volatility) 50

Profitability 39
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 82
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

Tay Ninh Cable Car Tour Company engages in transporting tourists, goods, and supplies by cable car in Vietnam. It provides slides and other services. The company was founded in 1998 and is headquartered in Tây Ninh, Vietnam.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tay Ninh Cable Car Tour Company reported revenue of 43.5B VND in FY2025 versus 35.9B VND in FY2021, a compound +4.9%/yr. Reported net income was 25.5B VND in FY2025, compounding +98.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
43.5B VND
Latest YoY
+60.3%
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.
−12.0%
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.
+0.1%
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.
−20.9%
Revenue +4.9%/yr
FY21 35.9B VND
FY22 63.7B VND
FY23 43.1B VND
FY24 27.1B VND
FY25 43.5B VND
Net income +98.4%/yr
FY21 1.6B VND
FY22 29.6B VND
FY23 18.3B VND
FY24 10.8B VND
FY25 25.5B VND

TCT screens 11% overvalued. Compare with ANTA Sports Products Limited →

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Cite: Fair Value Calculator (2026). "Tay Ninh Cable Car Tour Company Fair Value". https://www.fairvalue-calculator.com/stock/TCT

Peer Group

Leisure · 190 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 74 · Top 25%
Fair Value upside −11% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 1% · Below median
Net margin (TTM) 54% · Top 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth -16% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 11.1× · Cheaper than 75% of peers
P/B 0.68× · Cheaper than 75% of peers
P/S (TTM) 6.03× · Pricier than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 32.8× · 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 19 · sector 14
FUTURE 0 · sector 18
PAST 25 · sector 19
HEALTH 0 · sector 94
DIVIDEND 0 · sector 51

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 Leisure stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
ANTA Sports Products Limited 2020 HK$74.15 HK$119.29 +61%
Pop Mart International Group 9992 HK$160.20 HK$227.30 +42%
Amer Sports, Inc AS $36.44 $16.16 -56%
Hasbro, Inc HAS $81.55 $83.38 +2%
Life Time Group LTH $42.15 $16.15 -62%
Acushnet Holdings GOLF $114.78 $37.79 -67%
Li Ning Company 2331 HK$14.80 HK$29.26 +98%
Benefit Systems S.A BFT 5,255 PLN 3,714 PLN -29%
Ninebot Limited 689009 ¥37.82 ¥39.17 +4%
Asmodee Group ASMDEEB kr 145.70 kr 41.90 -71%

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Frequently asked questions

Is Tay Ninh Cable Car Tour Company (TCT) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 15,830 VND versus a price of 17,800 VND, about −11% (overvalued).
What is the fair value of TCT?
Our model-based fair value for Tay Ninh Cable Car Tour Company is 15,830 VND (as of Jul 12, 2026), built from audited fundamentals. The current price is 17,800 VND.
What is the quality score of TCT?
Tay Ninh Cable Car Tour Company has a Quality Score of 74/100. 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 Tay Ninh Cable Car Tour Company (TCT)?
Tay Ninh Cable Car Tour Company reported trailing-twelve-month revenue of about 40.1B VND (latest available figure, as of Jul 12, 2026).
What is the net profit margin of TCT?
The net profit margin of Tay Ninh Cable Car Tour Company is about 54.5%, meaning it keeps roughly 54.5% 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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