Viglacera Corp JSC (VGC) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Viglacera Corp JSC VND 42,400, price VND 42,400, upside +0.0%, quality 56 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 23,172 VND – 64,599 VND · fair‑value band 27,724 VND – 61,258 VND · the 42,400 VND price screens below the 42,400 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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Viglacera Corporation, together with its subsidiaries, manufactures and sells building materials in Vietnam.
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Viglacera Corporation, together with its subsidiaries, manufactures and sells building materials in Vietnam. The company offers sanitary wares comprising sanitary ware - shower faucets, granite ceramic tiles, construction glass, energy saving glass, fired clay tiles, and aerated concrete tiles; sintered stone; ultra white and construction glass; glass processing; autoclaved aerated concrete; and baked clay bricks. It also provides real estate investment and development for industrial park real estate, residential urban areas, and resort properties. Viglacera Corporation was founded in 1974 and is based in Hanoi, Vietnam.
Stock analysis
Viglacera Corp JSC (VGC) currently trades at 42,400 VND, while our model-based Fair Value estimate is 42,400 VND, implying the stock looks roughly 0.0% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 53,206 VND per share, and 16 of the 24 models we run sit above the 42,400 VND price.
Bear case: the Asset-Based group reads lowest at 12,957 VND, and 8 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 27,724 VND (bear) to 61,258 VND (bull), the price of 42,400 VND sits inside 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 56/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Viglacera Corp JSC reported revenue of 13.3T VND in FY2025 versus 11.2T VND in FY2021, a compound +4.4%/yr. Reported net income was 1.4T VND in FY2025, compounding +3.5%/yr from FY2021.
Key figures
Market cap 19.0T VND · P/E ratio 14.6 · P/S ratio 1.54 · EPS (TTM) 2,898 VND · Net margin 10.5% · Return on equity 14.5% · Return on assets (EBIT) 8.3% · Operating margin 14.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 27% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at 0%, VGC screens cheaper than that median.
Fair Value models
Bear 27,724 VNDFair Value 42,400 VNDBull 61,258 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 (2,128 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+11.8%
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.
−3.0%
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.
+7.1%
Start year 2020 (pandemic)
’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. 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.
+9.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.0%
Dividend (yield on the price)0.0%
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.10% → 17%
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+29.6%
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 +24.5% a year for the price.
Price, fair value, quality and upside side by side.
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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.Building Products & Equipment · 252 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside+1% · Above median
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets6% · Above median
Net margin (TTM)9% · Top 25%
Operating margin (TTM)14% · Top 25%
Growth and dividend
Revenue growth15% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
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Is Viglacera Corp JSC (VGC) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 42,400 VND versus a price of 42,400 VND, about +0% upside (fairly valued).
What is the fair value of VGC?
Our model-based fair value for Viglacera Corp JSC is 42,400 VND (as of Sep 24, 2026), built from audited fundamentals. The current price: 42,400 VND.
What is the quality score of VGC?
Viglacera Corp JSC has a Quality Score of 56/100. 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 Viglacera Corp JSC (VGC)?
Our model-based price target is the fair value of 42,400 VND (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 27,724 VND, optimistic scenario 61,258 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Viglacera Corp JSC stock forecast for 2026?
Our models put fair value at 42,400 VND, about +0% upside versus a price of 42,400 VND (fairly valued). Cautious scenario 27,724 VND, optimistic scenario 61,258 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Viglacera Corp JSC (VGC)?
Viglacera Corp JSC reported trailing-twelve-month revenue of about 13.7T VND (latest available figure, as of Sep 24, 2026).
What growth is priced into Viglacera Corp JSC (VGC)?
For today's price to be fair in a discounted-cash-flow model, Viglacera Corp JSC would have to grow free cash flow by +29.6 % 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 +7.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of VGC use?
Our models discount Viglacera Corp JSC at 13.4 %: a base by market capitalisation (small), damped by beta 0.42, 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 Viglacera Corp JSC that is +29.6 % 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 Viglacera Corp JSC (VGC) delivered so far?
Over the past 5 years revenue at Viglacera Corp JSC grew +7.1 % a year. The price currently implies +29.6 % 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 Viglacera Corp JSC (VGC) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Viglacera Corp JSC (+29.6 % 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 Viglacera Corp JSC (VGC)?
The free-cash-flow yield on the price is 2.89 %: that much free cash flow Viglacera Corp 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 Viglacera Corp JSC (VGC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Viglacera Corp JSC it is 42,400 VND per share (as of Sep 24, 2026), against a price of 42,400 VND. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Viglacera Corp JSC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, VGC trades below its calculated fair value: price 42,400 VND, fair value 42,400 VND, a gap of about +0% (fairly valued). 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 VGC?
No. The price is what the market pays today (42,400 VND); the fair value is what the company's own numbers justify (42,400 VND). For Viglacera Corp JSC the two are 0.1500 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Viglacera Corp JSC worth?
The market values Viglacera Corp JSC at about 19.0T VND (market capitalisation, as of Sep 24, 2026). Per share that is 42,400 VND; our models calculate a fair value of 42,400 VND per share.
What do the bullish and bearish scenarios say about VGC?
Our models span a range for Viglacera Corp JSC: cautious scenario 27,724 VND, base 42,400 VND, optimistic 61,258 VND per share (as of Sep 24, 2026, price 42,400 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VGC?
Viglacera Corp JSC trades at a price-to-earnings ratio of 14.6 (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 42,400 VND is built from several models across several years. Other multiples: P/B 2.2, P/S 1.4, EV/EBITDA 4.7.
How solid is the balance sheet of Viglacera Corp JSC (VGC)?
Balance-sheet figures for Viglacera Corp JSC (as of Sep 24, 2026): return on equity 14.5%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is VGC from its 52-week high?
Viglacera Corp JSC trades at 42,400 VND, about 27% below its 52-week high of 57,900 VND and 19% above the low of 35,750 VND (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 42,400 VND is for.
Which stocks are comparable to Viglacera Corp JSC?
From the same area (Industrials) we also value Trane Technologies plc, Johnson Controls International plc, Carrier Global Corporation, Compagnie de Saint-Gobain S.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 Viglacera Corp JSC stock attractive at the current price?
The data as of Sep 24, 2026: price 42,400 VND, calculated fair value 42,400 VND (+0%), Quality Score 56/100, from 24 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 VGC calculated?
We run Viglacera Corp JSC through 24 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 42,400 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 13.2 % above its aggregate fair value. Viglacera Corp JSC itself currently trades above fair value. 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 Viglacera Corp JSC (VGC)?
The closing price on Sep 24, 2026 was 42,400 VND. Our model-based fair value is 42,400 VND, about +0% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Viglacera Corp JSC right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (27,724 VND to 61,258 VND) leaves room in how you read the outcome.
Key figures of Viglacera Corp JSC
How large is the market capitalisation of Viglacera Corp JSC (VGC)?
The market capitalisation of Viglacera Corp JSC is 19.0T 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 Viglacera Corp JSC (VGC)?
The price-to-sales ratio of Viglacera Corp JSC is 1.54 (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 Viglacera Corp JSC (VGC)?
Earnings per share at Viglacera Corp JSC are 2,898 VND (price ÷ EPS = P/E 14.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Viglacera Corp JSC (VGC)?
The net margin of Viglacera Corp JSC is 10.5% (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 Viglacera Corp JSC (VGC)?
The return on equity (ROE) of Viglacera Corp JSC is 14.5% (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 Viglacera Corp JSC (VGC)?
On an EBIT basis the return on assets of Viglacera Corp JSC is 8.3% (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 Viglacera Corp JSC (VGC)?
The operating margin of Viglacera Corp JSC is 14.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Viglacera Corp JSC (VGC)?
Revenue at Viglacera Corp JSC is growing +14.7% versus a year earlier (3y avg −3.0%). 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 Viglacera Corp JSC (VGC)?
Earnings per share at Viglacera Corp JSC are growing −32.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Viglacera Corp JSC (VGC) carry?
The net debt of Viglacera Corp JSC is 288B VND (fiscal year 2025, ≈ 0.5 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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