Vietcap Securities Joint Stock Company (VCI) Fair Value & Analysis
Financial Services · VN · Market cap 28.8T VND
Fair value as of: Jul 13, 2026
From 9 valuation models · updated 28 days ago
Share price −14.4% over the past month.
Below-average quality, and screening another 22% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (21,121 VND). The favourable scenario is already priced in.
- Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
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 9,270 VND – 34,885 VND · fair‑value band 12,673 VND – 21,121 VND · the 21,750 VND price screens above the 16,897 VND fair value. Dashed = 300-day average. As of Jul 13, 2026.
Analysis
Vietcap Securities Joint Stock Company (VCI) currently trades at 21,750 VND, while our model-based Fair Value estimate is 16,897 VND, implying the stock looks roughly 22.3% overvalued today. The Quality Score stands at 31/100 (below-average quality), in the Financial Services 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, Vietcap Securities Joint Stock Company generated revenue of 4.6T VND at a net margin of 30.2%. Revenue grew 69.0% year over year. It earns a return on equity of 9.3%. Net debt stands at 12.9T VND. Fundamentals as of Jul 13, 2026
Our scenario range runs from 12,673 VND (bear case) to 21,121 VND (bull case); at 21,750 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 39% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -22%, VCI 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.
All 9 models by family
Widest divergence: DCF Models (46,855 VND) versus Dividend Discount (2,690 VND). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 28 · Market factors (momentum, volatility) 27
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
Vietcap Securities Joint Stock Company provides financial solutions to individuals and institutional clients in Vietnam. It offers retail investment advisory, institutional sales and trading, wealth management, and investment banking services.
Full company description
Vietcap Securities Joint Stock Company provides financial solutions to individuals and institutional clients in Vietnam. It offers retail investment advisory, institutional sales and trading, wealth management, and investment banking services. The company also provides securities brokerage, proprietary securities trading, underwriting and securities custodian, securities investment consultancy and corporate finance consultancy, margin lending, and derivatives trading service. In addition, it offers Vietcap Trading and Vietcap IQ trading platforms; Margin Product for investments; Ai news for business news; Vietcap Academy, and learning and development center, which provides investors with knowledge about vietnam's stock market; and Vietcap Webinar, a webinar series covering various topics presented by vietcap's top analysts. Vietcap Securities Joint Stock Company was incorporated in 2007 and 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
Vietcap Securities Joint Stock Company reported revenue of 3.0T VND in FY2025 versus 2.5T VND in FY2021, a compound +4.4%/yr. Reported net income was 1.3T VND in FY2025, compounding −2.7%/yr from FY2021.
VCI screens 22% overvalued. Compare with Huatai Securities Co →
Peer Group
Capital Markets · 425 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.
Valuation Multiples vs Capital Markets median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Huatai Securities Co HTSC | $0.2700 | $0.0400 | -85% |
| Mirae Asset Securities Co 006800 | 38,750 KRW | 31,645 KRW | -18% |
| Meritz Financial Group 138040 | 117,000 KRW | 87,706 KRW | -25% |
| Korea Investment Holdings 071050 | 239,000 KRW | 318,825 KRW | +33% |
| NH Investment & Securities Co 005940 | 31,000 KRW | 37,133 KRW | +20% |
| Samsung Securities Co 016360 | 107,700 KRW | 126,487 KRW | +17% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹967.00 | ₹299.65 | -69% |
| Kiwoom Securities Co 039490 | 322,000 KRW | 358,091 KRW | +11% |
| SSI Securities Corporation SSI | 24,250 VND | 28,021 VND | +16% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 120.22 ARS | -62% |
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Frequently asked questions
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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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