Vietjet Aviation JSC (VJC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Vietjet Aviation JSC stock VND 46,916, price VND 134,700, that is 65.2% below the price, quality 19 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 60,846 VND – 168,539 VND · fair‑value band 43,467 VND – 58,646 VND · the 134,700 VND price screens above the 46,916 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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VietJet Aviation Joint Stock Company provides passenger and cargo air transportation services to domestic and international air routes.
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The company also offers airline-related support services; in-flight advertising services; and payment services, as well as trades in and leases aircraft and aircraft components.
It covers various domestic and international routes, including Vietnam, Thailand, Singapore, South Korea, Taiwan, Myanmar, Malaysia, Hong Kong, Japan, India, Indonesia, Cambodia, China, and Australia. The company was founded in 2007 and is based in Hanoi, Vietnam.
Stock analysis
Vietjet Aviation JSC (VJC) currently trades at 134,700 VND, while our model-based Fair Value estimate is 46,916 VND, 65% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 114,730 VND per share, and 0 of the 15 models we run sit above the 134,700 VND price.
Bear case: the Economic Profit group reads lowest at 13,043 VND, and 15 of the 15 models stay below the price. Data coverage for this calculation is high.
Scenario range: 43,467 VND (bear) to 58,646 VND (bull), the price of 134,700 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 19/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Vietjet Aviation JSC reported revenue of 82.1T VND in FY2025 versus 12.9T VND in FY2021, a compound +58.9%/yr. Reported net income was 2.1T VND in FY2025, compounding +131.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 104T VND (≈ $4.0B) Mid · P/E ratio 47.0 · P/S ratio 1.06 · EPS (TTM) 2,865 VND · Dividend yield 0.1% · Net margin 2.2% · Return on equity 8.8% · Return on assets (EBIT) −1.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 15% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 15% fair-value upside, at −65%, VJC screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (459.94 VND to 130,875 VND). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear43,467 VNDFair Value 46,916 VNDBull58,646 VND
Price 134,700 VND · Downside -65.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (2,449 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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
+13.9%
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.
+26.9%
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.
+35.1%
Start year 2020 (pandemic)
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.
+8.4%
’19
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’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.
≈ +92.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+92.2%
Dividend (yield on the price)0.1%
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.−13% → 5%
⚠ Approximate: the rate leans on 2025, which sits 138% above its own trend.
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.Airlines · 52 stocks
Beats the industry median on 1/13 measures
Overall it trails its industry peers.
Valuation
Quality Score19 · Bottom 25%
Fair Value upside−65.2% · Bottom 25%
Profitability
Return on equity (12 months)8.8% · Below median
Return on assets1.5% · Below median
Net margin (12 months)2.2% · Below median
Operating margin (12 months)2.6% · Below median
Growth and dividend
Revenue growth (quarter YoY)70.5% · Top 25%
Dividend yield (12 months)0.1% · Bottom 25%
Balance sheet
Debt / equity1.61× · Highest 25%
Valuation Multiplesvs Airlines median · lower = cheaper
P/E (12 months)47.0× · Priciest 25%
P/B4.18× · Priciest 25%
P/S (12 months)1.06× · Pricier than median
EV/EBITDA25.4× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 49
FUTURE (revenue growth)100· sector 72
PAST (return on equity)35· sector 50
HEALTH (low debt)20· sector 67
DIVIDEND (yield)1· sector 48
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.
Is Vietjet Aviation JSC (VJC) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 46,916 VND versus a price of 134,700 VND, about 65% lower (overvalued).
What is the fair value of VJC?
Our model-based fair value for Vietjet Aviation JSC is 46,916 VND (as of Nov 3, 2026), built from audited fundamentals. The current price: 134,700 VND.
What is the quality score of VJC?
Vietjet Aviation JSC has a Quality Score of 19/100. 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 Vietjet Aviation JSC (VJC)?
Our model-based price target is the fair value of 46,916 VND (as of Nov 3, 2026) from 16 valuation models. Cautious scenario 43,467 VND, optimistic scenario 58,646 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Vietjet Aviation JSC stock forecast for 2026?
Our models put fair value at 46,916 VND, about 65% lower versus a price of 134,700 VND (overvalued). Cautious scenario 43,467 VND, optimistic scenario 58,646 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Vietjet Aviation JSC (VJC)?
Vietjet Aviation JSC reported trailing-twelve-month revenue of about 97.8T VND (latest available figure, as of Nov 3, 2026).
Does Vietjet Aviation JSC pay a dividend?
Vietjet Aviation JSC currently shows a dividend yield of 0.06% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Vietjet Aviation JSC (VJC)?
Vietjet Aviation JSC has a dividend yield of 0.1%.
What is the intrinsic value of Vietjet Aviation JSC (VJC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vietjet Aviation JSC it is 46,916 VND per share (as of Nov 3, 2026), against a price of 134,700 VND. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Vietjet Aviation JSC stock overvalued or undervalued in 2026?
As of Nov 3, 2026, VJC trades above its calculated fair value: price 134,700 VND, fair value 46,916 VND, a gap of about −65% (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 VJC?
No. The price is what the market pays today (134,700 VND); the fair value is what the company's own numbers justify (46,916 VND). For Vietjet Aviation JSC the two are 87,784 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Vietjet Aviation JSC worth?
The market values Vietjet Aviation JSC at about 104T VND (market capitalisation, as of Nov 3, 2026). Per share that is 134,700 VND; our models calculate a fair value of 46,916 VND per share.
What do the bullish and bearish scenarios say about VJC?
Our models span a range for Vietjet Aviation JSC: cautious scenario 43,467 VND, base 46,916 VND, optimistic 58,646 VND per share (as of Nov 3, 2026, price 134,700 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VJC?
Vietjet Aviation JSC trades at a price-to-earnings ratio of 47.0 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 46,916 VND is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 46.4 (reported for FY2025: 37.5). Other multiples: P/B 4.2, P/S 1.1, EV/EBITDA 25.4.
How solid is the balance sheet of Vietjet Aviation JSC (VJC)?
Balance-sheet figures for Vietjet Aviation JSC (as of Nov 3, 2026): return on equity 8.8%, debt of 1.61 per unit of equity. They feed the Quality Score of 19/100, which measures business quality independently of the share price.
How far is VJC from its 52-week high?
Vietjet Aviation JSC trades at 134,700 VND, about 20% below its 52-week high of 168,539 VND and 15% above the low of 116,769 VND (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 46,916 VND is for.
Which stocks are comparable to Vietjet Aviation JSC?
From the same area (Industrials) we also value Delta Air Lines, Inc, United Airlines Holdings, Ryanair Holdings, InterGlobe Aviation Limited, 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 Vietjet Aviation JSC stock attractive at the current price?
The data as of Nov 3, 2026: price 134,700 VND, calculated fair value 46,916 VND (−65%), Quality Score 19/100, from 16 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 VJC calculated?
We run Vietjet Aviation JSC through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 46,916 VND builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Vietjet Aviation 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 Vietjet Aviation JSC (VJC)?
The closing price on Nov 6, 2026 was 134,700 VND. Our model-based fair value is 46,916 VND, about 65% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vietjet Aviation JSC right now?
The price sits above even our optimistic bull case (58,646 VND). The favourable scenario is already priced in. Weak quality (19/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Vietjet Aviation JSC
How large is the market capitalisation of Vietjet Aviation JSC (VJC)?
The market capitalisation of Vietjet Aviation JSC is 104T VND (≈ $4.0B). 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 Vietjet Aviation JSC (VJC)?
The price-to-sales ratio of Vietjet Aviation JSC is 1.06 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Vietjet Aviation JSC (VJC)?
Earnings per share at Vietjet Aviation JSC are 2,865 VND (price ÷ EPS = P/E 47.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Vietjet Aviation JSC (VJC)?
The dividend yield of Vietjet Aviation JSC is 0.1% (payout 2.7%). 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 Vietjet Aviation JSC (VJC)?
The net margin of Vietjet Aviation JSC is 2.2% (last twelve months). 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 Vietjet Aviation JSC (VJC)?
The return on equity (ROE) of Vietjet Aviation JSC is 8.8% (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 Vietjet Aviation JSC (VJC)?
On an EBIT basis the return on assets of Vietjet Aviation JSC is −1.1% (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 Vietjet Aviation JSC (VJC)?
The operating margin of Vietjet Aviation JSC is 2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vietjet Aviation JSC (VJC)?
Revenue at Vietjet Aviation JSC is growing +70.5% versus a year earlier (3y avg +26.9%). 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 Vietjet Aviation JSC (VJC)?
Earnings per share at Vietjet Aviation JSC are growing −50.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Vietjet Aviation JSC (VJC) generate?
The free cash flow of Vietjet Aviation JSC is −29.4T 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 Vietjet Aviation JSC (VJC) carry?
The net debt of Vietjet Aviation JSC is 54.6T 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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Broad data
Nov 3, 2026