Viet Dragon Securities Corporation (VDS) Fair Value & Analysis
Financial Services · VN · Market cap 3.7T VND
Fair value as of: Jul 17, 2026
From 9 valuation models · updated 24 days ago
Share price −20.6% over the past month.
Below-average quality, screening 46% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (31/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (13,272 VND). The market is more pessimistic than our downside scenario.
- 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 17, 2026.
How to read this chart
60‑month range 5,667 VND – 25,250 VND · fair‑value band 13,272 VND – 22,119 VND · the 12,150 VND price screens below the 17,695 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.
Analysis
Viet Dragon Securities Corporation (VDS) currently trades at 12,150 VND, while our model-based Fair Value estimate is 17,695 VND, implying the stock looks roughly 45.6% undervalued today. The Quality Score stands at 31/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Viet Dragon Securities Corporation generated revenue of 709B VND at a net margin of 33.5%. Revenue grew 8.3% year over year. It earns a return on equity of 8.0%. Net debt stands at 3.9T VND. Fundamentals as of Jul 17, 2026
Our scenario range runs from 13,272 VND (bear case) to 22,119 VND (bull case); at 12,150 VND, the current price sits below 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 54% 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 46%, VDS 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.
All 9 models by family
Widest divergence: DCF Models (46,293 VND) versus Dividend Discount (2.04 VND). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 30 · Market factors (momentum, volatility) 25
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
Viet Dragon Securities Corporation, together with its subsidiary, Viet Dragon Asset Management Corporation, provides brokerage, securities trading, finance and investment advisory, underwriting, securities custodian, and derivatives services.
Full company description
Viet Dragon Securities Corporation, together with its subsidiary, Viet Dragon Asset Management Corporation, provides brokerage, securities trading, finance and investment advisory, underwriting, securities custodian, and derivatives services. It operates through Proprietary Activities; Brokerage and Securities Services; Investment Banking; and Others segments. The company offers securities brokerages, securities investment advisory services, and margin custodian services; and corporate financial advisory, M&A consultancy, and other consultancy services. It also provides underlying securities, covered warrant, corporate bond, and fund certificate distribution services; financial services and other value-added services; and equity capital and debt capital market, merger and acquisition, and corporate finance advisory services, as well as online services. In addition, the company establishes and manages securities investment funds and securities investment companies; and manages securities portfolios. It serves individual, institutional, and corporate clients in Vietnam. Viet Dragon Securities Corporation was incorporated in 2006 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
Viet Dragon Securities Corporation reported revenue of 615B VND in FY2025 versus 749B VND in FY2021, a compound −4.8%/yr. Reported net income was 283B VND in FY2025, compounding −9.7%/yr from FY2021.
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Peer Group
Capital Markets · 423 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.
Insider activity: 30/100
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 17, 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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