DBD

Công ty Cổ phần Dược - Trang thiết bị y tế Bình Định (BIDIPHAR)

VietnamConsumerY tếDược phẩmHOSECT

45.150

VND · Close 3 Nov 2026

Calibrated intrinsic value vs last close

Illustrative estimate

Close below calibrated value

+6.8%Calibrated value vs last close

−50%At last close+100%+500%

Last close (VND): 45.150
Calibrated intrinsic value (VND): 48.225

Last close × (1 + calibrated gap / 100)

Earnings-capitalised value

Not available: the company reported a loss last year or its shares have too short a price history.

How it is calculated

1
Measure the gap
Between the model and the last close.
2
Check the record2015–2024
What gaps of that size went on to earn over the following year.
3
Apply to the close
That return is applied to the last close.

Keep in mind

For illustration only: not a validated forecast.
No uncertainty range: the estimate is a single figure.
Older record: it has not been re-measured on the current data.

Also note

A release of working capital contributes to cash flow.

Comparison assessed 3 Nov 2026Valid through 3 Dec 2026

Model reliability: High; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: 47.1%; 12 monthsHistorical calibration; Chance the return beats the median return of its sector peers.

Assessed 30 Oct 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

12-month sector-relative outlook

−2.6percentage points

Consumer12 monthsBack-test 2015–2024

Median 12-month return difference versus Consumer peers, for model gaps like this one.

Not an absolute return forecast.
Not a price target.
A stock can underperform its sector and still rise.

Computed 30 Oct 2026Not updated with daily prices

Sector calibration span · percentage points

−9.5+5.5

The sector’s historical range, not a prediction interval for this stock.
Actual returns can fall outside it.

Published filingsValued 30 Oct 2026Anchored to close on 3 Nov 2026Recalculated when the displayed close changes.

Valuation Breakdown

CT→Y tế→Consumer

Classified as consumer because ICB sector “Y tế” maps to the consumer group.

ModelFCF-Based DCF

Intrinsic = 70% x DCF Value + 30% x (Fair P/E x EPS)

A Discounted Cash Flow model built on Free Cash Flow (FCF), the cash a business generates after operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted to today's value using WACC. The DCF value is blended 70/30 with a value from the company's own historical P/E.

Technical details

Why this model

Consumer staples/retail generate steady, predictable free cash flows, making them ideal for DCF. The time value of money principle means a dollar today is worth more than a dollar tomorrow. DCF captures this by discounting future cash flows at a rate reflecting the investment's risk (WACC).

How it works

Takes 3-year median FCF as the base. Estimates growth via ROIC x reinvestment rate (Damodaran framework), falling back to historical revenue growth. Projects 10 years with decay toward the sector's long-run growth rate. Discounts at CAPM-derived WACC. Blends 70% of the DCF value with 30% of a P/E value: the company's 5-year median P/E, held between 5x and 25x, times EPS.

Best for

Stable consumer businesses (food, beverage, retail, healthcare) with predictable, positive free cash flows.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.36%

Betasector default

0.553

ERP

4.38%

CRP

2.75%

Cost of Equity (Ke)

9.53%

E/(D+E)

94.76%

Kd(1-t)

5.36%

D/(D+E)

5.24%

WACC

10.00%

Growth Estimate

fundamental firm blend5.99%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→154.71B

Projection years→10

Valuation

We take the model’s gap to the last close, read what gaps of that size went on to earn over the following year in our 2015 to 2024 record, and apply that to the last close.

Last close (VND)→45.150

Calibrated value vs last close→+6.8%

Last close × (1 + calibrated gap / 100)

Calibrated intrinsic value (VND)

48.225

What feeds each step— click a source to highlight it in the statements

Discount rate (WACC)10.00%

Growth rate5.99%growth method: fundamental firm blend

Base cash flow154.7 tỷone off strip ratio: 0

DCF Sensitivity

Illustrative calibrated values from the standalone DCF scenarios below, anchored to the same last close. These scenarios leave out the other parts of a blended model and do not reproduce the headline value.

WACC \ Growth	3.0%	4.5%	6.0%	7.5%	9.0%
8.0%	48.225	48.225	48.225	48.225	48.225
9.0%	48.225	48.225	48.225	48.225	48.225
10.0%	45.774	45.774	45.774	48.225	48.225
11.0%	45.774	45.774	45.774	45.774	45.774
12.0%	45.774	45.774	45.774	45.774	45.774

Above market priceBelow market priceCurrent estimate

DBD among Consumer

Every stock in the sector, DBD marked: calibrated gap vs close across, market value up, model reliability into the board

Each bead is one valued stock in the sector; the amber bead with its stem is DBD. Drag to turn; open another stock from its bead.

Feeds valuation:Cost of capitalGrowthModel inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
CURRENT ASSETS (Bn. VND)	·	1,480	1,476	1,261	1,248	948	836	1,029	1,021	1,115	1,023	773	493	515
Cash and cash equivalents (Bn. VND)Net debt bridge	·	203	314	88	56	69	109	138	93	96	136	211	139	83
Short-term investments (Bn. VND)Net debt bridge	·	409	124	221	221	139	93	114	223	314	274	110	0.8	0.5
Accounts receivable (Bn. VND)	·	482	520	452	510	479	413	445	429	406	372	272	256	347
Prepayments to suppliers (Bn. VND)	·	41	76	16	27	42	38	59	54	72	58	30	0.7	4
Net Inventories	·	366	505	488	450	254	215	313	270	290	231	174	95	82
Inventories, Net (Bn. VND)	·	398	532	498	450	254	215	313	270	290	231	174	95	82
Other current assets	·	20	12	12	11	7	6	19	7	9	10	5	2	2
Other current assets (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	0	0.6	0.8
LONG-TERM ASSETS (Bn. VND)	·	1,116	788	728	648	611	602	592	413	429	411	295	304	273
Fixed assets (Bn. VND)	·	354	338	357	357	247	249	237	219	247	236	168	118	93
Tangible fixed assets	·	272	281	299	297	187	187	180	168	195	182	126	69	46
Intagible fixed assets	·	82	57	58	60	60	62	56	51	52	53	43	40	38
Long-term investments (Bn. VND)	·	164	164	164	155	140	142	150	144	140	132	102	182	177
Investments in associate companies	·	162	163	160	151	137	138	133	127	124	116	93	168	167
Other long-term assets (Bn. VND)	·	4	4	4	4	4	4	17	17	17	17	17	14	10
Less: Provision for diminuation in value of long term investments	·	−2	−2	0	0	0	0	0	0	0	0	−7	−0.2	0
Other non-current assets	·	58	53	45	39	40	41	41	26	30	12	4	3	3
Long-term prepayments (Bn. VND)	·	42	39	37	35	37	41	40	26	30	12	4	3	3
TOTAL ASSETS (Bn. VND)	·	2,596	2,264	1,989	1,896	1,560	1,437	1,621	1,434	1,544	1,434	1,068	796	788
LIABILITIES (Bn. VND)	·	860	603	556	541	419	449	688	544	711	661	514	487	520
Current liabilities (Bn. VND)	·	588	460	418	405	287	348	580	497	656	612	482	478	501
Short-term borrowings (Bn. VND)Discount rate (WACC) +1	·	43	36	35	16	21	20	176	96	196	75	87	72	84
Advances from customers (Bn. VND)	·	15	16	9	9	11	29	5	15	31	7	15	7	3
Long-term liabilities (Bn. VND)	·	273	143	138	135	132	101	108	46	55	49	32	9	19
Long-term borrowings (Bn. VND)Discount rate (WACC) +1	·	132	28	44	60	76	63	65	0	0	0	0	0	8
OWNER'S EQUITY(Bn.VND)Discount rate (WACC)	·	1,736	1,661	1,433	1,355	1,141	989	933	891	833	773	554	309	268
Capital and reserves (Bn. VND)	·	1,734	1,659	1,429	1,349	1,132	972	914	868	806	743	554	309	268
Paid-in capital (Bn. VND)	·	945	936	749	749	576	524	524	524	524	524	419	269	50
Other Reserves	·	0	0	0	0	0	0	0	0	0	0	0	0	115
Difference upon Assets Revaluation	·	0	0	0	0	0	0	0	0	0	0	0	0	64
Foreign Currency Difference reserve	·	9	5	8	7	−3	−0.7	−1	0	0	0	0	0	0.6
Investment and development funds (Bn. VND)	·	231	202	174	147	123	104	88	74	58	42	28	5	23
Undistributed earnings (Bn. VND)	·	530	497	478	427	416	326	282	249	204	156	107	34	0
Budget sources and other funds	·	2	2	4	6	9	16	19	23	27	30	0	0	0
Budget sources and other funds	·	0.7	0.04	1.0	2	3	12	15	18	20	23	0	0	0
TOTAL RESOURCES (Bn. VND)	·	2,596	2,264	1,989	1,896	1,560	1,437	1,621	1,434	1,544	1,434	1,068	796	788
Short-term loans receivables (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0.6	0.7	0	0
Common shares (Bn. VND)	·	945	936	749	749	576	524	524	524	524	524	419	269	50

Earnings Quality

Fiscal year 2025

Good

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

100

ReceivablesDSO trend vs revenue growth

100

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

100

Financial Forensics

Beneish M-Score · 2025

Remainder

M −3.01 · 14th pctile vs VN companies

YoY ▼ −0.73

Conservative vs VN peersUnusual accounting movement

Compare across the whole market

Ranked vs Vietnamese peers. The −1.78 Beneish cutoff is US-calibrated; ~28% of VN stocks exceed it.

DSRI

0.858

GMI

1.017

AQI

1.475

SGI

1.080

DEPI

0.991

SGAI

0.981

TATA

−0.125

LVGI

1.286

Checks measured on Vietnamese companies · FY2025

Cash conversion, 3 yearsOperating cash flow / net profit: 1.3960th pctile
Receivables outside the trade cyclePrepayments to suppliers, loans and other long-term receivables / total assets: 1.6%44th pctile
Accumulated losses / paid-in capitalUndistributed earnings below zero: None
Consecutive years of net lossProfit after tax of the parent: 0
Owner's equityWithout the non-controlling interest: Positive

Percentiles rank each fiscal year against Vietnamese non-financial companies (0 lowest, 100 highest). Over FY2015-2024, low cash conversion and a large share of receivables outside the trade cycle came before more listing trouble and more net losses the next year.

Statutory loss tests (Decree 155/2020/NĐ-CP, Art. 120(1)(e), amended by Decree 245/2025/NĐ-CP): a HOSE or HNX listing is cancelled when the audited annual statements show net losses in each of the latest 3 years, accumulated losses above the paid-in charter capital, or negative owner's equity. Read here from the annual statements as the data vendor publishes them.

Quantitative Scores

F-Score

3/9

Weak

Z-Score

5.21

Safe Zone

Sharpe

−0.85

Negative

Composite

50 to 69

Piotroski F-Score Breakdown

✓Net Income > 0

✓Operating CF > 0

✗ROA Rising

✓OCF > Net Income

✗Lower Leverage

✗Better Liquidity

✗No Dilution

✗Margin Up

✗Turnover Up

DuPont Decomposition

Tax Burden0.84×Interest Burden0.99×Op. Margin0.19×Turnover0.72×Leverage1.50=ROE16.8%

Price Risk

Momentum

−9.9%

Volatility

15.2%

Max Drawdown

−12.7%

Key Ratios

Fiscal year 2025

14.81P/E

P/B: 2.49
P/S: 2.32
ROE: 17.2%
ROA: 12.0%
EPS: 3.090
BVPS: 18.372
Gross Margin: 47.4%
Net Margin: 15.7%
D/E: 0.10
Current Ratio: 2.52
Rev Growth: +7.1%
Profit Growth: +5.7%
EV/EBITDA: 10.30
Div Yield: 4.3%

Company Overview

Shares outstanding: 94.5M
Charter Capital: 945B VND
Sector (ICB L2): Y tế
Industry (ICB L3): Dược phẩm
Sub-industry: Dược phẩm
Company Type: CT

Ownership network

Common ownership links for DBD. Hover for detail, select a link to open it.

Shareholders

Quỹ Đầu tư Phát triển Tỉnh Gia Lai

Inst

13.2%

12.5M

2026-03-31

KWE Beteiligungen AG

Inst

11.2%

10.5M

2026-06-29

Nguyễn Thị Thủy

Indiv

3.1%

2.9M

2025-12-31

Trương Công Minh

Indiv

1.1%

1.0M

2025-12-31

Nguyễn Thị Minh Thư

Indiv

1.0%

926,250

2025-12-31

Công Đoàn Cơ Sở Công ty Cổ Phần Dược - Trang Thiết Bị Y Tế Bình Định

Inst

0.9%

877,087

2025-12-31

Phạm Thị Thanh Hương

Indiv

0.9%

844,292

2026-06-30

HUỲNH NGỌC OANH

Indiv

0.8%

786,333

2024-06-30

Lê Thị Kim Mai

Indiv

0.7%

674,960

2024-06-30

Trịnh Thị Xuân

Indiv

0.4%

409,823

2025-12-31

Nguyễn Ngọc Dũng

Indiv

0.3%

283,376

2026-06-30

Quỹ Đầu Tư Năng Động Lighthouse

Inst

0.2%

170,000

2024-12-31

Nguyễn Thị Thuỳ Linh

Indiv

0.2%

205,000

2025-12-31

Board & Management

Phạm Thị Thanh Hương0.9%

Member of Management Board/General Director/Spokesman

Nguyễn Ngọc Dũng0.3%

Member of Management Board/Deputy General Director

Đỗ Huy Phương

Chief Accountant

Top connections

BDW51.0%BMC24.9%DHC15.4%BMP11.4%TNH11.2%DRC11.2%

Director-deal registrations · 12 months

Sale registrations: 1 by 1 trader; 2,814,500 shares
Purchase registrations: 3 by 2 traders; 150,500 shares · 1 without a stated volume

KWE Beteiligungen AG
Purchase · Institution
—
2026-06-29
Nguyễn Phạm Hoàng Long
Purchase · Related person
50,500
2026-02-26
Nguyễn Phạm Hoàng Long
Purchase · Related person
100,000
2026-01-19
Công ty Cổ phần Chứng khoán Bảo Minh
Sale · Institution
2,814,500
2025-12-08

Insiders, large holders and related persons register a trade before they make it. A registration is not an executed trade, and a holder that did not trade often registers again.

Computed 30/10/2026

Calibrated intrinsic value vs last close

Earnings-capitalised value

How it is calculated

Keep in mind

Also note

12-month sector-relative outlook

Valuation Breakdown

DCF Sensitivity

DBD among Consumer

Financial Statements

Earnings Quality

Financial Forensics

Checks measured on Vietnamese companies · FY2025

Quantitative Scores

Key Ratios

Company Overview

Ownership network

Director-deal registrations · 12 months

Ownership network

Director-deal registrations · 12 months

DBD among Consumer