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SecuritiesCông ty Cổ phần Chứng khoán DNSE
Dịch vụ tài chínhCK
24.050
VND · Last close
Valuation Verdict
Overvalued
-120%Fair Value+120%
Intrinsic Value
19.577
Current
24.050
Gap
-18.6%
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→3
2
Valuation
Fair P/B
1.56x
x
BVPS
12.558
=
Intrinsic Value
19.577
Valuation Track Record
Retroactive intrinsic value vs actual close price — DSE
Earnings Quality
Fiscal year 2025
27
Poor
Accrual Quality
18Cash Conversion
0Margin Stability
54Revenue Quality
42Quantitative Scores
F-Score
4/9
Neutral
Sharpe
-0.01
Negative
Composite
35
Weak
Price Risk
Momentum
+4.2%
Volatility
34.9%
Max Drawdown
-31.1%
Key Ratios
Fiscal year 2025
1.92P/B
P/E30.30
ROE6.5%
ROA2.1%
EPS795.47
BVPS12557.88
Net Margin18.7%
Rev Growth80.6%
Profit Growth49.9%
Div Yield2.9%
Company Overview
Issued Shares
342.6M
Charter Capital
4282.5B 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
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Computed 12/04/2026