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AAS
SecuritiesCông ty Cổ phần Chứng khoán SmartInvest
Dịch vụ tài chínhCK
8.500
VND · Last close
Valuation Verdict
Undervalued
-120%Fair Value+120%
Intrinsic Value
10.146
Current
8.500
Gap
+19.4%
ModelCYCLE ADJUSTED PB
Valuation Breakdown
CK→Securities
Classified as securities because company type is CK (securities firm)
ModelCycle-Adjusted P/B
Intrinsic Value = Avg P/B (5yr) x Cycle Discount x BVPSSecurities firms (brokerages) have earnings that swing dramatically with market trading volumes. Instead of using a single year's valuation, this model averages Price-to-Book over 5 years to capture a full market cycle, similar to how Shiller's CAPE smooths earnings for the broader market. If the firm is currently earning much more than its historical average (ROE > 1.3x avg), a 15% discount is applied as a mean-reversion signal.
1
Model Inputs
Years of data→5
2
Valuation
Fair P/B
0.88x
x
BVPS
11.556
=
Intrinsic Value
10.146
Valuation Track Record
Retroactive intrinsic value vs actual close price — AAS
Earnings Quality
Fiscal year 2025
49
Weak
Accrual Quality
65Cash Conversion
100Margin Stability
25Revenue Quality
0Quantitative Scores
F-Score
8/9
Strong
Sharpe
0.10
Positive
Composite
49
Weak
Price Risk
Momentum
+5.5%
Volatility
50.1%
Max Drawdown
-63.9%
Key Ratios
Fiscal year 2025
0.87P/B
P/E14.00
ROE6.4%
ROA3.5%
EPS717.45
BVPS11556.42
Net Margin30.5%
Rev Growth32.1%
Profit Growth124.0%
Div Yield0.0%
Company Overview
Issued Shares
230.0M
Charter Capital
2300.0B VND
Sector (ICB L2)
Dịch vụ tài chính
Industry (ICB L3)
Dịch vụ tài chính
Sub-industry
Môi giới chứng khoán
Company Type
CK
// OWNERSHIP_NETWORK
> mapping common ownership for AAS — hover nodes for intel, click to navigate
Computed 12/04/2026