VIX Securities Joint Stock Company (VIX) Fair Value & Analysis
Financial Services · VN · Market cap 26.8T VND
Fair value as of: Jul 15, 2026
From 9 valuation models · updated 26 days ago
Fair value updated Jul 15, 2026, revised from 33,400 VND to 29,400 VND (−12.0%) since Jun 26, 2026. Share price −17.6% over the past month.
A solid business, screening 116% undervalued on our models.
What matters now
- The price is below even our cautious bear case (22,050 VND). The market is more pessimistic than our downside scenario.
- Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
- 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 15, 2026.
How to read this chart
60‑month range 2,589 VND – 33,443 VND · fair‑value band 22,050 VND – 36,750 VND · the 13,600 VND price screens below the 29,400 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
VIX Securities Joint Stock Company (VIX) currently trades at 13,600 VND, while our model-based Fair Value estimate is 29,400 VND, implying the stock looks roughly 116.2% undervalued today. The Quality Score stands at 50/100 (solid 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, VIX Securities Joint Stock Company generated revenue of 8.5T VND at a net margin of 61.2%. Revenue grew 60.3% year over year. It earns a return on equity of 27.2%. Net debt stands at 9.3T VND. Fundamentals as of Jul 15, 2026
Our scenario range runs from 22,050 VND (bear case) to 36,750 VND (bull case); at 13,600 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 60% below its 52-week high and 51% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 116%, VIX 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 (116,427 VND) versus Dividend Discount (3,103 VND). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 11
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
VIX Securities Joint Stock Company provides stock brokerage, securities trading, underwriting for securities issues, and investment advisory services in Vietnam. It also provides finance, securities depository, and corporate finance consulting services.
Full company description
VIX Securities Joint Stock Company provides stock brokerage, securities trading, underwriting for securities issues, and investment advisory services in Vietnam. It also provides finance, securities depository, and corporate finance consulting services. The company was formerly known as IB Securities Joint Stock Company and changed its name to VIX Securities Joint Stock Company in October 2020. VIX Securities Joint Stock Company was founded in 2007 and is headquartered in Hanoi, Vietnam.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
VIX Securities Joint Stock Company reported revenue of 2.5T VND in FY2025 versus 1.0T VND in FY2021, a compound +25.4%/yr. Reported net income was 5.4T VND in FY2025, compounding +64.7%/yr from FY2021.
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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.
Insider activity: 35/100
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 15, 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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