Vietnam Construction and Import Export JSC (VCG) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Vietnam Construction and Import Export JSC VND 28,500, price VND 14,250, upside +100.0%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 7,579 VND – 31,273 VND · fair‑value band 18,508 VND – 68,252 VND · the 14,250 VND price screens below the 28,500 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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Vietnam Construction and Import-Export Joint Stock Corporation, together with its subsidiaries, engages in construction and property development activities in Vietnam and internationally.
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Vietnam Construction and Import-Export Joint Stock Corporation, together with its subsidiaries, engages in construction and property development activities in Vietnam and internationally. The company undertakes various projects, including civil, industrial, transport, airport, harbor, irrigational, underground, sport, leisure and entertainment, tourism, hotels, office buildings, schools, hospitals, post offices, technical infrastructure, residential and urban areas, industrial and export processing zones, high-tech parks, water supply and drainage, waste treatment and environmental works, hydro power, thermal power plants, transformer stations, roads, bridges, dams, and others. It also manufactures, processes, and trades in cement; stones; block bricks; safety glass; rubber seal, and plastic frames and doors; steel structures; pre-cast concrete structures; construction sand; commercial concrete; interior furniture; electricity; clean and purified water; water fittings; package and cement packs; wooden products; and agricultural and forest products. In addition, the company provides design consultancy services; man-power supply services; education and training services; and financial investment services. Additionally, the company engages in real estate business. The company was founded in 1988 and is headquartered in Hanoi, Vietnam. Vietnam Construction and Import-Export Joint Stock Corporation operates as a subsidiary of Pacific Holdings Investment Joint Stock Company.
Stock analysis
Vietnam Construction and Import Export JSC (VCG) currently trades at 14,250 VND, while our model-based Fair Value estimate is 28,500 VND, implying the stock looks roughly 50.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 140,529 VND per share, and 10 of the 13 models we run sit above the 14,250 VND price.
Bear case: the Dividend Discount group reads lowest at 10,314 VND, and 3 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 18,508 VND (bear) to 68,252 VND (bull), the price of 14,250 VND sits below 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 59/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Vietnam Construction and Import Export JSC reported revenue of 16.1T VND in FY2025 versus 5.7T VND in FY2021, a compound +29.3%/yr. Reported net income was 3.7T VND in FY2025, compounding +74.6%/yr from FY2021.
Key figures
Market cap 14.5T VND · P/E ratio 2.6 · P/S ratio 0.58 · EPS (TTM) 5,560 VND · Dividend yield 3.9% · Net margin 22.8% · Return on equity 33.9% · Return on assets (EBIT) 3.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 38% fair-value upside, at 100%, VCG screens cheaper than that median.
Fair Value models
Bear 18,508 VNDFair Value 28,500 VNDBull 68,252 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 (4,083 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.
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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+24.9%
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.
+23.9%
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.
+23.7%
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.
+9.2%
’19
’20
’21
’22
’23
’24
’25
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.
≈ +13.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.4%
Dividend (yield on the price)3.9%
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.−13% → 10%
⚠ Rate on operating basis: 2025 sits 296% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−4.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Vietnam: IMF forecast 4.1% a year to 2030, 3.1% from 2016 to 2025) that is about −8.3% a year for the price.
Compare Vietnam Construction and Import Export JSC with another stock
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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.Conglomerates · 378 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Top 25%
Fair Value upside+100% · Top 25%
Profitability
Return on equity (TTM)34% · Top 25%
Return on assets4% · Above median
Net margin (TTM)23% · Top 25%
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth32% · Top 25%
Dividend yield (TTM)3.9% · Top 25%
Balance sheet
Debt / equity0.18× · Below median
Valuation Multiplesvs Conglomerates median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Vietnam Construction and Import Export JSC Fair Value". https://www.fairvalue-calculator.com/stock/VCG
Frequently asked questions
Is Vietnam Construction and Import Export JSC (VCG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 28,500 VND versus a price of 14,250 VND, about +100% upside (undervalued).
What is the fair value of VCG?
Our model-based fair value for Vietnam Construction and Import Export JSC is 28,500 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 14,250 VND.
What is the quality score of VCG?
Vietnam Construction and Import Export JSC has a Quality Score of 59/100. 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 Vietnam Construction and Import Export JSC (VCG)?
Our model-based price target is the fair value of 28,500 VND (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 18,508 VND, optimistic scenario 68,252 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Vietnam Construction and Import Export JSC stock forecast for 2026?
Our models put fair value at 28,500 VND, about +100% upside versus a price of 14,250 VND (undervalued). Cautious scenario 18,508 VND, optimistic scenario 68,252 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Vietnam Construction and Import Export JSC (VCG)?
Vietnam Construction and Import Export JSC reported trailing-twelve-month revenue of about 16.9T VND (latest available figure, as of Sep 24, 2026).
Does Vietnam Construction and Import Export JSC pay a dividend?
Vietnam Construction and Import Export JSC currently shows a dividend yield of about 3.89% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Vietnam Construction and Import Export JSC (VCG)?
For today's price to be fair in a discounted-cash-flow model, Vietnam Construction and Import Export JSC would have to grow free cash flow by -4.5 % per year for five years (discount rate 13.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of VCG use?
Our models discount Vietnam Construction and Import Export JSC at 13.4 %: a base by market capitalisation (small), damped by beta 0.47, country premium for Vietnam. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Vietnam Construction and Import Export JSC that is -4.5 % per year a year over ten years, using the same discount rate (13.4 %) and the same formula as our fair value.
How much growth has Vietnam Construction and Import Export JSC (VCG) delivered so far?
Over the past 5 years revenue at Vietnam Construction and Import Export JSC grew +23.7 % a year. The price currently implies -4.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Vietnam Construction and Import Export JSC (VCG) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Vietnam Construction and Import Export JSC (-4.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Vietnam Construction and Import Export JSC (VCG)?
The free-cash-flow yield on the price is 23.99 %: that much free cash flow Vietnam Construction and Import Export JSC produces per unit of market value. When it exceeds the discount rate of our models (13.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Vietnam Construction and Import Export JSC (VCG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vietnam Construction and Import Export JSC it is 28,500 VND per share (as of Sep 24, 2026), against a price of 14,250 VND. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Vietnam Construction and Import Export JSC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, VCG trades below its calculated fair value: price 14,250 VND, fair value 28,500 VND, a gap of about +100% (undervalued). 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 VCG?
No. The price is what the market pays today (14,250 VND); the fair value is what the company's own numbers justify (28,500 VND). For Vietnam Construction and Import Export JSC the two are 14,250 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Vietnam Construction and Import Export JSC worth?
The market values Vietnam Construction and Import Export JSC at about 14.5T VND (market capitalisation, as of Sep 24, 2026). Per share that is 14,250 VND; our models calculate a fair value of 28,500 VND per share.
What do the bullish and bearish scenarios say about VCG?
Our models span a range for Vietnam Construction and Import Export JSC: cautious scenario 18,508 VND, base 28,500 VND, optimistic 68,252 VND per share (as of Sep 24, 2026, price 14,250 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VCG?
Vietnam Construction and Import Export JSC trades at a price-to-earnings ratio of 2.6 (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 28,500 VND is built from several models across several years. Other multiples: P/B 1.3, P/S 0.9, EV/EBITDA 7.1.
How solid is the balance sheet of Vietnam Construction and Import Export JSC (VCG)?
Balance-sheet figures for Vietnam Construction and Import Export JSC (as of Sep 24, 2026): return on equity 33.9%, debt of 0.18 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is VCG from its 52-week high?
Vietnam Construction and Import Export JSC trades at 14,250 VND, about 43% below its 52-week high of 25,016 VND and at the low of 14,250 VND (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 28,500 VND is for.
Which stocks are comparable to Vietnam Construction and Import Export JSC?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Poste Italiane S.p.A, 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 Vietnam Construction and Import Export JSC stock attractive at the current price?
The data as of Sep 24, 2026: price 14,250 VND, calculated fair value 28,500 VND (+100%), Quality Score 59/100, from 13 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 VCG calculated?
We run Vietnam Construction and Import Export JSC through 13 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 28,500 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. Vietnam Construction and Import Export JSC currently trades 100 % 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 Vietnam Construction and Import Export JSC (VCG)?
The closing price on Sep 23, 2026 was 14,250 VND. Our model-based fair value is 28,500 VND, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vietnam Construction and Import Export JSC right now?
The price is below even our cautious bear case (18,508 VND). The market is more pessimistic than our downside scenario. The model range is unusually wide (18,508 VND to 68,252 VND). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Vietnam Construction and Import Export JSC
How large is the market capitalisation of Vietnam Construction and Import Export JSC (VCG)?
The market capitalisation of Vietnam Construction and Import Export JSC is 14.5T 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 Vietnam Construction and Import Export JSC (VCG)?
The price-to-sales ratio of Vietnam Construction and Import Export JSC is 0.58 (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 Vietnam Construction and Import Export JSC (VCG)?
Earnings per share at Vietnam Construction and Import Export JSC are 5,560 VND (price ÷ EPS = P/E 2.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Vietnam Construction and Import Export JSC (VCG)?
The dividend yield of Vietnam Construction and Import Export JSC is 3.9% (payout 10.0%). 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 Vietnam Construction and Import Export JSC (VCG)?
The net margin of Vietnam Construction and Import Export JSC is 22.8% (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 Vietnam Construction and Import Export JSC (VCG)?
The return on equity (ROE) of Vietnam Construction and Import Export JSC is 33.9% (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 Vietnam Construction and Import Export JSC (VCG)?
On an EBIT basis the return on assets of Vietnam Construction and Import Export JSC is 3.6% (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 Vietnam Construction and Import Export JSC (VCG)?
The operating margin of Vietnam Construction and Import Export JSC is 9.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vietnam Construction and Import Export JSC (VCG)?
Revenue at Vietnam Construction and Import Export JSC is growing +31.9% versus a year earlier (3y avg +23.9%). 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 Vietnam Construction and Import Export JSC (VCG)?
Earnings per share at Vietnam Construction and Import Export JSC are growing +176% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Vietnam Construction and Import Export JSC (VCG) carry?
The net debt of Vietnam Construction and Import Export JSC is 5.0T VND (fiscal year 2025, ≈ 2.3 yrs of FCF). 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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