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APS
SecuritiesCông ty Cổ phần Chứng khoán Châu Á - Thái Bình Dương
Dịch vụ tài chínhCK
6.200
VND · Last close
Valuation Verdict
Undervalued
-120%Fair Value+120%
Intrinsic Value
7.385
Current
6.200
Gap
+19.1%
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
0.79x
x
BVPS
9.319
=
Intrinsic Value
7.385
Valuation Track Record
Retroactive intrinsic value vs actual close price — APS
Earnings Quality
Fiscal year 2025
21
Poor
Accrual Quality
90Cash Conversion
3Margin Stability
0Revenue Quality
7Quantitative Scores
F-Score
5/9
Neutral
Sharpe
0.11
Positive
Composite
38
Weak
Price Risk
Momentum
+12.7%
Volatility
45.1%
Max Drawdown
-54.1%
Key Ratios
Fiscal year 2025
0.67P/B
P/E-17.38
ROE-3.8%
ROA-3.7%
EPS-356.73
BVPS9318.53
Net Margin-16.3%
Rev Growth-23.9%
Profit Growth-235.9%
Div Yield0.0%
Company Overview
Issued Shares
83.0M
Charter Capital
830.0B 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 APS — hover nodes for intel, click to navigate
Computed 12/04/2026