Vingroup JSC (VIC) fair value: what the stock is really worth
We calculate from audited financials what Vingroup JSC is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Weakest SetupStrongly overvalued and low quality.
!Fair value 25,731 VND · Strongly overvalued (−89%)
!Quality 30/100
!Expensive Growth(revenue 5y +24.6 %/yr)
!Thin margins · 3.3% net margin (TTM)
!High debt · negative free cash flow
!Trails peers(2/13)
!Narrow moat37/100
!Insider activity40/100
!Evidence only low, so the estimate is less certain
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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 17, 2026.
How to read this chart
60‑month range 19,950 VND – 256,100 VND · fair‑value band 19,298 VND – 35,287 VND · the 235,000 VND price screens above the 25,731 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 17, 2026.
Vingroup Joint Stock Company invests in, constructs, and trades in real estate properties in Vietnam.
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Vingroup Joint Stock Company invests in, constructs, and trades in real estate properties in Vietnam. It operates through Sale of Inventory Properties; Leasing Investment Properties and Related Services; Hospitality, Entertainment and Related Services; Health Care and Related Services; Education and Related Services; Manufacturing and Related Activities; General Contractor and Related Services; and Others segments. The company leases office and retail areas; operates hotels and resorts; manufactures and trades in automotive vehicles; and provides health care, education, general contractor, real estate management, information technology, real estate broker, and other services. The company was formerly known as Vincom Joint Stock Company and changed its name to Vingroup Joint Stock Company in April 2012. Vingroup Joint Stock Company was founded in 1993 and is headquartered in Hanoi, Vietnam.
Stock analysis
Vingroup JSC (VIC) currently trades at 235,000 VND, while our model-based Fair Value estimate is 25,731 VND, implying the stock looks roughly 813.2% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 52,663 VND per share, and 0 of the 12 models we run sit above the 235,000 VND price.
Bear case: the Dividend Discount group reads lowest at 5,912 VND, and 12 of the 12 models stay below the price. Evidence for this calculation is low.
Scenario range: 19,298 VND (bear) to 35,287 VND (bull), the price of 235,000 VND sits above 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 30/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Vingroup JSC reported revenue of 332T VND in FY2025 versus 126T VND in FY2021, a compound +27.5%/yr. Reported net income was 11.3T VND in FY2025.
Key figures
Market cap 1,762T VND · P/E ratio 166.6 · P/S ratio 5.70 · EPS (TTM) 1,410 VND · Dividend yield 0.2% · Net margin 3.4% · Return on equity 9.3% · Return on assets (EBIT) 0.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades near its 52-week high, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 2% fair-value upside, at −89%, VIC screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (5,912 VND to 71,777 VND). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 19,298 VNDFair Value 25,731 VNDBull 35,287 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 (1,020 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.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+75.5%
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.
+48.3%
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.
+24.6%
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.
+16.9%
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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.
−3.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.3%
Dividend (yield on the price)0.2%
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.−3% → 1%
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.Real Estate Services · 535 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score30 · Bottom 25%
Fair Value upside−90% · Bottom 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets1% · Below median
Net margin (TTM)3% · Below median
Operating margin (TTM)14% · Below median
Growth and dividend
Revenue growth25% · Top 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity1.51× · Highest 25%
Valuation Multiplesvs Real Estate Services median · lower = cheaper
P/E (TTM)166.6× · Priciest 25%
P/B11.25× · Priciest 25%
P/S (TTM)4.75× · Pricier than median
EV/EBITDA45.5× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 31
FUTURE (revenue growth)100· sector 12
PAST (return on equity)37· sector 16
HEALTH (low debt)25· sector 84
DIVIDEND (yield)4· sector 66
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Vingroup JSC Fair Value". https://www.fairvalue-calculator.com/stock/VIC
Frequently asked questions
Is Vingroup JSC (VIC) overvalued or undervalued?
As of Sep 17, 2026, our model estimates a fair value of 25,731 VND versus a price of 235,000 VND, about −89% upside (overvalued).
What is the fair value of VIC?
Our model-based fair value for Vingroup JSC is 25,731 VND (as of Sep 17, 2026), built from audited fundamentals. The current price: 235,000 VND.
What is the quality score of VIC?
Vingroup JSC has a Quality Score of 30/100. 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 Vingroup JSC (VIC)?
Our model-based price target is the fair value of 25,731 VND (as of Sep 17, 2026) from 12 valuation models. Cautious scenario 19,298 VND, optimistic scenario 35,287 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Vingroup JSC stock forecast for 2026?
Our models put fair value at 25,731 VND, about −89% upside versus a price of 235,000 VND (overvalued). Cautious scenario 19,298 VND, optimistic scenario 35,287 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Vingroup JSC (VIC)?
Vingroup JSC reported trailing-twelve-month revenue of about 352T VND (latest available figure, as of Sep 17, 2026).
Does Vingroup JSC pay a dividend?
Vingroup JSC currently shows a dividend yield of about 0.18% relative to its recent price (as of Sep 17, 2026).
What is the intrinsic value of Vingroup JSC (VIC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vingroup JSC it is 25,731 VND per share (as of Sep 17, 2026), against a price of 235,000 VND. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Vingroup JSC stock overvalued or undervalued in 2026?
As of Sep 17, 2026, VIC trades above its calculated fair value: price 235,000 VND, fair value 25,731 VND, a gap of about −89% (overvalued). 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 VIC?
No. The price is what the market pays today (235,000 VND); the fair value is what the company's own numbers justify (25,731 VND). For Vingroup JSC the two are 209,269 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Vingroup JSC worth?
The market values Vingroup JSC at about 1,762T VND (market capitalisation, as of Sep 17, 2026). Per share that is 235,000 VND; our models calculate a fair value of 25,731 VND per share.
What do the bullish and bearish scenarios say about VIC?
Our models span a range for Vingroup JSC: cautious scenario 19,298 VND, base 25,731 VND, optimistic 35,287 VND per share (as of Sep 17, 2026, price 235,000 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VIC?
Vingroup JSC trades at a price-to-earnings ratio of 166.6 (as of Sep 17, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 25,731 VND is built from several models across several years. Other multiples: P/B 11.3, P/S 4.7, EV/EBITDA 45.5.
How solid is the balance sheet of Vingroup JSC (VIC)?
Balance-sheet figures for Vingroup JSC (as of Sep 17, 2026): return on equity 9.3%, debt of 1.51 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is VIC from its 52-week high?
Vingroup JSC trades at 235,000 VND, about 1% below its 52-week high of 232,000 VND and 476% above the low of 40,800 VND (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of 25,731 VND is for.
Which stocks are comparable to Vingroup JSC?
From the same area (Real Estate) we also value CBRE Group, Vonovia SE, Cellnex Telecom, S.A, KE Holdings, 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 Vingroup JSC stock attractive at the current price?
The data as of Sep 17, 2026: price 235,000 VND, calculated fair value 25,731 VND (−89%), Quality Score 30/100, from 12 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 VIC calculated?
We run Vingroup JSC through 12 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 25,731 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 16.1 % above its aggregate fair value. Vingroup 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 Vingroup JSC (VIC)?
The closing price on Sep 21, 2026 was 235,000 VND. Our model-based fair value is 25,731 VND, about −89% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vingroup JSC right now?
The price sits above even our optimistic bull case (35,287 VND). The favourable scenario is already priced in. Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (19,298 VND to 35,287 VND) leaves room in how you read the outcome.
Key figures of Vingroup JSC
How large is the market capitalisation of Vingroup JSC (VIC)?
The market capitalisation of Vingroup JSC is 1,762T 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 Vingroup JSC (VIC)?
The price-to-sales ratio of Vingroup JSC is 5.70 (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 Vingroup JSC (VIC)?
Earnings per share at Vingroup JSC are 1,410 VND (price ÷ EPS = P/E 166.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Vingroup JSC (VIC)?
The dividend yield of Vingroup JSC is 0.2% (payout 29.6%). 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 Vingroup JSC (VIC)?
The net margin of Vingroup JSC is 3.4% (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 Vingroup JSC (VIC)?
The return on equity (ROE) of Vingroup JSC is 9.3% (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 Vingroup JSC (VIC)?
On an EBIT basis the return on assets of Vingroup JSC is 0.2% (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 Vingroup JSC (VIC)?
The operating margin of Vingroup JSC is 13.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vingroup JSC (VIC)?
Revenue at Vingroup JSC is growing +24.5% versus a year earlier (3y avg +48.3%). 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 Vingroup JSC (VIC)?
Earnings per share at Vingroup JSC are growing −1.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Vingroup JSC (VIC) generate?
The free cash flow of Vingroup JSC is −6.9T VND (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Vingroup JSC (VIC) carry?
The net debt of Vingroup JSC is 265T VND (fiscal year 2025). 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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