Vincom Retail JSC (VRE) fair value: what the stock is really worth
We calculate from audited financials what Vincom Retail 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, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
Watch it or check another stockalert when fair value or trend changes
Real Estate · VN · Market cap 59.8T VND · ISIN VN000000VRE6
At a glance
VRVincom Retail JSCVRE · VN
Price26,300 VND
Fair Value36,826 VND
Upside+40.0%
Quality49/100
Below-average quality, trading 29% below our fair value of 36,826 VND.
As of Aug 23, 2026, the fair value of Vincom Retail JSC is 36,826 VND per share against a price of 26,300 VND, so the fair value sits 40% above the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y +1.2 %/yr)
✓Highly profitable · 76.4% net margin
!Low debt · negative free cash flow
·3.80% dividend yield
✓Ranks above peers (10/13)
✓Wide moat 69/100
Evidence: HighRange 27,403 VND to 46,249 VND
Fair value as of: Aug 23, 2026
From 9 valuation models · updated 18 days ago
Share price +2.9% over the past month.
This is the short version. In the app for Vincom Retail JSC:
Watch Vincom Retail JSC for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for free
69 individual criteria per stock, every one traceable See the method →
What matters now
The price is below even our cautious bear case (27,403 VND). The market is more pessimistic than our downside scenario.
Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.
How to read this chart
60‑month range 15,549 VND – 41,914 VND · fair‑value band 27,403 VND – 46,249 VND · the 26,300 VND price screens below the 36,826 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.
Vincom Retail JSC (VRE) currently trades at 26,300 VND, while our model-based Fair Value estimate is 36,826 VND, implying the stock looks roughly 28.6% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of 36,835 VND per share, and 3 of the 9 models we run sit above the 26,300 VND price. Bear case: the Dividend Discount group reads lowest at 13,392 VND, and 6 of the 9 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Vincom Retail JSC generated revenue of 9.0T VND at a net margin of 76.4%. Revenue grew 7.6% year over year. It earns a return on equity of 14.8%. Net debt stands at 2.0T VND. Fundamentals as of Aug 23, 2026
Scenario range: 27,403 VND (bear) to 46,249 VND (bull), the price of 26,300 VND sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 42% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −33% fair-value upside, at 40%, VRE screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (1,404 VND per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
Residual Income20,734 VND25,963 VND60,350 VND70
Gordon GGM10,376 VND13,392 VND16,576 VND69
DDM Multi-Stage10,376 VND14,309 VND19,293 VND67
All 9 models by family
Dividend Discount
Gordon GGM10,376 VND13,392 VND16,576 VND69
DDM Multi-Stage10,376 VND14,309 VND19,293 VND67
Multiples
P/S Multiple18,960 VND25,279 VND31,599 VND58
P/B Multiple31,929 VND42,572 VND53,215 VND55
EV/EBIT27,412 VND36,835 VND46,258 VND66
EV/EBITDA28,738 VND38,603 VND48,468 VND67
EV/Revenue14,734 VND21,416 VND28,098 VND53
Asset-Based
NCAV (Graham)10,643 VND14,262 VND21,286 VND54
Economic Profit
Residual Income20,734 VND25,963 VND60,350 VND70
Widest divergence: Multiples (36,835 VND) versus Dividend Discount (13,392 VND). Highest evidence: Residual Income (70).
Notify me when VRE reaches fair value
Put VRE on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Free, no payment details. Unsubscribe anytime in one click.
Key figures & financial health
P/E ratio8.6
P/S ratio6.28P/E × margin
EPS (TTM)3,056 VNDprice ÷ EPS = P/E 8.6
Dividend yield3.8%payout 32.7%
Net margin72.9%FY2025
Return on equity14.8%TTM
More key figures
Profitability
Return on assets (EBIT)7.1%avg 5y
Operating margin48.2%TTM
Growth
Revenue (TTM)9.0T VNDTTM
Revenue growth (YoY)+7.6%3y avg +6.3%
EPS growth (YoY)+36.5%
Balance sheet & cash flow
Free cash flow−5.9T VNDFY2025
Net debt2.0T VNDFY2025
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality49/100
Of which business quality 45
· Market factors (momentum, volatility) 35
Profitability47
Margins and returns on capital today
Quality Growth58
Are margins and returns improving?
Cashflow0
Earnings quality: real cash, not paper profit
Fin. Strength66
Balance sheet, leverage, solvency risk
Investment23
Disciplined investing over empire-building
Low Volatility44
Calm price path (market factor)
Momentum37
Price trend over the last 3–12 months (market factor)
52W Momentum20
Distance to the 52-week high (market factor)
Net Issuance82
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Vincom Retail Joint Stock Company, together with its subsidiaries, engages in the investment, construction, development, and leasing of shopping centers in Vietnam. It is also involved in real estate development and transfer activities; sale of real estate; and leases investment properties, as well as offers real estate and management consulting activities.
Full company description
Vincom Retail Joint Stock Company, together with its subsidiaries, engages in the investment, construction, development, and leasing of shopping centers in Vietnam. It is also involved in real estate development and transfer activities; sale of real estate; and leases investment properties, as well as offers real estate and management consulting activities. Vincom Retail Joint Stock Company was founded in 2012 and is headquartered in Hanoi, Vietnam.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Vincom Retail JSC reported revenue of 8.8T VND in FY2025 versus 5.9T VND in FY2021, a compound +10.7%/yr. Reported net income was 6.4T VND in FY2025, compounding +48.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Growth Quality 26/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
8.8T VND
Latest YoY
−1.1%
Avg. revenue 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.
+6.3%
Avg. revenue 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.
+1.2%
Avg. revenue 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.
−0.8%
Value creation/yr (5Y, in VND) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. 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.
≈ +8.4%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+4.6%
Dividend yield3.8%
Operating margin (EBIT) ⓘ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.37.3% (2020) → 44.1% (2025) · rising
Worst earnings drop54% (2021) · in VND
⚠ Final year 2025 sits 57% above trend (one-off), rate on operating basis
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.
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.
This stockSector peers
VALUE87· sector 53
FUTURE38· sector 29
PAST59· sector 18
HEALTH93· sector 76
DIVIDEND76· sector 58
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
Similar stocks
10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
Is Vincom Retail JSC (VRE) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of 36,826 VND versus a price of 26,300 VND, about +40% upside (undervalued).
What is the fair value of VRE?
Our model-based fair value for Vincom Retail JSC is 36,826 VND (as of Aug 23, 2026), built from audited fundamentals. The current price: 26,300 VND.
What is the quality score of VRE?
Vincom Retail JSC has a Quality Score of 49/100. 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 Vincom Retail JSC (VRE)?
Our model-based price target is the fair value of 36,826 VND (as of Aug 23, 2026) from 9 valuation models. Cautious scenario 27,403 VND, optimistic scenario 46,249 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Vincom Retail JSC stock forecast for 2026?
Our models put fair value at 36,826 VND, about +40% upside versus a price of 26,300 VND (undervalued). Cautious scenario 27,403 VND, optimistic scenario 46,249 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Vincom Retail JSC (VRE)?
Vincom Retail JSC reported trailing-twelve-month revenue of about 9.0T VND (latest available figure, as of Aug 23, 2026).
What is the net profit margin of VRE?
The net profit margin of Vincom Retail JSC is about 76.4%, meaning it keeps roughly 76.4% of revenue as net income. Based on the latest reported figures.
Does Vincom Retail JSC pay a dividend?
Vincom Retail JSC currently shows a dividend yield of about 3.80% relative to its recent price (as of Aug 23, 2026).
What is the intrinsic value of Vincom Retail JSC (VRE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vincom Retail JSC it is 36,826 VND per share (as of Aug 23, 2026), against a price of 26,300 VND. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Vincom Retail JSC stock overvalued or undervalued in 2026?
As of Aug 23, 2026, VRE trades below its calculated fair value: price 26,300 VND, fair value 36,826 VND, a gap of about +40% (undervalued). 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 VRE?
No. The price is what the market pays today (26,300 VND); the fair value is what the company's own numbers justify (36,826 VND). For Vincom Retail JSC the two are 10,526 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Vincom Retail JSC worth?
The market values Vincom Retail JSC at about 59.8T VND (market capitalisation, as of Aug 23, 2026). Per share that is 26,300 VND; our models calculate a fair value of 36,826 VND per share.
What do the bullish and bearish scenarios say about VRE?
Our models span a range for Vincom Retail JSC: cautious scenario 27,403 VND, base 36,826 VND, optimistic 46,249 VND per share (as of Aug 23, 2026, price 26,300 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VRE?
Vincom Retail JSC trades at a price-to-earnings ratio of 8.6 (as of Aug 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 36,826 VND is built from several models across several years. Other multiples: P/B 1.2, P/S 6.3, EV/EBITDA 11.0.
How solid is the balance sheet of Vincom Retail JSC (VRE)?
Balance-sheet figures for Vincom Retail JSC (as of Aug 23, 2026): return on equity 14.8%, debt of 0.13 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is VRE from its 52-week high?
Vincom Retail JSC trades at 26,300 VND, about 42% below its 52-week high of 45,200 VND and 12% above the low of 23,500 VND (as of Aug 23, 2026). Distance from the high says nothing about value: that is what the fair value of 36,826 VND is for.
Which stocks are comparable to Vincom Retail JSC?
From the same area (Real Estate) we also value Corem Property Group, Swiss Prime Site AG, Central Pattana Public Company, Prestige Estates Projects 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 Vincom Retail JSC stock attractive at the current price?
The data as of Aug 23, 2026: price 26,300 VND, calculated fair value 36,826 VND (+40%), Quality Score 49/100, from 9 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 VRE calculated?
We run Vincom Retail JSC through 9 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 36,826 VND, with the spread shown as a cautious and an optimistic scenario.
Free · no account needed
Watch Vincom Retail JSC in the live analysis
One click puts Vincom Retail JSC on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
