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Vietnam Fumigation Joint Stock Company (VFG) Fair Value & Analysis

Basic Materials · VN · Market cap 2.0T VND

VF Vietnam Fumigation Joint Stock Company VFG · VN
Price46,000 VND
Fair Value108,990 VND
Upside+136.9%
Quality67/100
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Mixed Growth
Thin margins · 9.5% net margin
Low debt · generates free cash flow
Ranks above peers (12/14)
Moderate moat 59/100
Evidence: High Range 67,380 VND – 136,238 VND Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from 137,397 VND to 108,990 VND (−20.7%) since Jun 25, 2026. Share price −1.3% over the past month.

A solid business, screening 137% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (67,380 VND). The market is more pessimistic than our downside scenario.
  • Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (67,380 VND to 136,238 VND) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

79,878 VND 18,078 VND Fair Value 108,990 VND Mar 2020 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 18,078 VND – 79,878 VND · fair‑value band 67,380 VND – 136,238 VND · the 46,000 VND price screens below the 108,990 VND fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Vietnam Fumigation Joint Stock Company (VFG) currently trades at 46,000 VND, while our model-based Fair Value estimate is 108,990 VND, implying the stock looks roughly 136.9% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Basic Materials 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, Vietnam Fumigation Joint Stock Company generated revenue of 3.6T VND at a net margin of 9.5%. Revenue grew 5.0% year over year. It earns a return on equity of 19.9%. Net debt stands at 244B VND. Fundamentals as of Jul 12, 2026

Our scenario range runs from 67,380 VND (bear case) to 136,238 VND (bull case); at 46,000 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 26% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -13% fair-value upside, at 137%, VFG 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.

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
Growth DCF 52,262 VND 77,865 VND 121,945 VND 80
Residual Income 53,121 VND 65,806 VND 199,742 VND 76
Rev-Margin DCF 86,920 VND 144,238 VND 213,840 VND 74
All 26 models by family
DCF Models
FCF DCF 51,941 VND 78,022 VND 122,536 VND 38
Owner Earnings 124,203 VND 202,235 VND 335,413 VND 31
5Y Revenue Exit 86,920 VND 146,122 VND 225,508 VND 39
5Y EBITDA Exit 90,881 VND 153,898 VND 231,035 VND 41
5Y P/E Exit 102,018 VND 175,763 VND 257,429 VND 38
10Y Revenue Exit 71,857 VND 124,638 VND 202,904 VND 36
10Y EBITDA Exit 77,538 VND 130,309 VND 207,421 VND 37
10Y P/E Exit 84,942 VND 146,257 VND 228,992 VND 35
Earnings-Based
Graham-Dodd 54,959 VND 211,947 VND 287,302 VND 54
Lynch FV 51,823 VND 74,033 VND 96,243 VND 50
PEG = 1.0 51,823 VND 74,033 VND 96,243 VND 46
EPV 104,091 VND 119,696 VND 133,568 VND 59
Dividend Discount
Gordon GGM 48,438 VND 105,748 VND 177,926 VND 70
DDM Multi-Stage 48,438 VND 86,625 VND 110,207 VND 61
Multiples
P/E Multiple 121,233 VND 161,644 VND 202,055 VND 63
P/S Multiple 103,048 VND 137,397 VND 171,746 VND 58
P/B Multiple 89,715 VND 119,619 VND 149,524 VND 55
EV/EBIT 149,602 VND 194,248 VND 238,895 VND 53
EV/EBITDA 118,823 VND 153,210 VND 187,597 VND 54
EV/Revenue 105,947 VND 144,641 VND 183,335 VND 43
Asset-Based
NCAV (Graham) 19,937 VND 26,715 VND 39,873 VND 50
Growth DCF
Growth DCF 52,262 VND 77,865 VND 121,945 VND 80
Rev-Margin DCF 86,920 VND 144,238 VND 213,840 VND 74
Economic Profit
Residual Income 53,121 VND 65,806 VND 199,742 VND 76
ROIC Compounder 112,144 VND 139,806 VND 172,730 VND 72
Growth Earnings
Growth-Adj P/E 90,864 VND 129,806 VND 168,748 VND 68

Widest divergence: DCF Models (146,122 VND) versus Asset-Based (26,715 VND). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.6T VND
Revenue growth (YoY) +5.0%
Net margin 9.5%
Return on equity 19.9%
Free cash flow 119B VND FY2025
P/E ratio 6.1
More key figures
Operating margin 10.9%
EPS (TTM) 7,745 VND
EPS growth (YoY) +2.2%
Net debt 244B VND FY2023

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

Quality Score breakdown

Overall quality 67/100

Of which business quality 67 · Market factors (momentum, volatility) 44

Profitability 73
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 8
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

Vietnam Fumigation Joint Stock Company manufactures, processes, and trades in disinfectants and agricultural chemicals in Vietnam. It operates through Agricultural Chemicals; Disinfection and Pestman Service; Investment Property for Rent; and Hotel Service segments.

Full company description

Vietnam Fumigation Joint Stock Company manufactures, processes, and trades in disinfectants and agricultural chemicals in Vietnam. It operates through Agricultural Chemicals; Disinfection and Pestman Service; Investment Property for Rent; and Hotel Service segments. The company offers pesticides, herbicides, insecticides, fungicides, and organic and biological fertilizers. It also provides disinfection products, such as fumigants, safety and fumigation equipment, sprayable formulations, and desiccants; commodity fumigation services for storage, import, and export; and pest control services to factories, hotels, resorts, warehouses, residential areas, and construction projects. In addition, the company offers office rental services; hotel and restaurant services; and sells plant seeds. Vietnam Fumigation Joint Stock Company was founded in 1960 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

Vietnam Fumigation Joint Stock Company reported revenue of 3.5T VND in FY2025 versus 2.1T VND in FY2021, a compound +14.2%/yr. Reported net income was 337B VND in FY2025, compounding +19.6%/yr from FY2021.

Growth Quality 80/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.5T VND
Latest YoY
+0.9%
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.
+5.8%
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.
+13.4%
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.
+9.3%
Revenue +14.2%/yr
FY21 2.1T VND
FY22 3.0T VND
FY23 3.3T VND
FY24 3.5T VND
FY25 3.5T VND
Net income +19.6%/yr
FY21 165B VND
FY22 229B VND
FY23 296B VND
FY24 470B VND
FY25 337B VND

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Cite: Fair Value Calculator (2026). "Vietnam Fumigation Joint Stock Company Fair Value". https://www.fairvalue-calculator.com/stock/VFG

Peer Group

Agricultural Inputs · 179 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 67 · Top 25%
Fair Value upside +137% · Top 25%
Return on equity (TTM) 20% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 11% · Above median
Revenue growth 5% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Agricultural Inputs median · lower = cheaper

P/E (TTM) 6.1× · Cheaper than 75% of peers
P/B 1.18× · Cheaper than median
P/S (TTM) 0.55× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 2.9× · Cheaper 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 100 · sector 21
FUTURE 25 · sector 37
PAST 79 · sector 24
HEALTH 100 · sector 97
DIVIDEND 0 · sector 33

Insider activity: 40/100

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

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SABIC Agri-Nutrients Company 2020 122.90 SAR 127.31 SAR +4%
Yara International ASA YAR kr 451.30 kr 67.25 -85%
Yunnan Yuntianhua Co 600096 ¥30.17 ¥42.12 +40%
Asia-potash International Investment (Guangzhou)Co.,Ltd., 000893 ¥42.59 ¥38.01 -11%
Coromandel International Limited COROMANDEL ₹2,034 ₹1,129 -44%
UPL Limited UPL ₹594.75 ₹387.06 -35%

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Frequently asked questions

Is Vietnam Fumigation Joint Stock Company (VFG) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 108,990 VND versus a price of 46,000 VND, about +137% (undervalued).
What is the fair value of VFG?
Our model-based fair value for Vietnam Fumigation Joint Stock Company is 108,990 VND (as of Jul 12, 2026), built from audited fundamentals. The current price is 46,000 VND.
What is the quality score of VFG?
Vietnam Fumigation Joint Stock Company has a Quality Score of 67/100. 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 Vietnam Fumigation Joint Stock Company (VFG)?
Vietnam Fumigation Joint Stock Company reported trailing-twelve-month revenue of about 3.6T VND (latest available figure, as of Jul 12, 2026).
What is the net profit margin of VFG?
The net profit margin of Vietnam Fumigation Joint Stock Company is about 9.5%, meaning it keeps roughly 9.5% 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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