L12

Construction

Công ty Cổ phần Licogi 12

Xây dựng và Vật liệuCT

4.000

VND · Last close

Valuation Verdict

Undervalued

High

−120%Fair Value+120%

Intrinsic Value

40.3k

Current

4.0k

Gap

+500.0%

ModelEV EBITDA DCF BLEND

Valuation Breakdown

CT→Xây dựng và Vật liệu→Construction

Classified as construction because ICB sector "Xây dựng và Vật liệu" maps to the construction group

ModelEV/EBITDA + DCF Blend

Intrinsic = 50% x EV/EBITDA Value + 50% x DCF Value

Construction and industrial firms have characteristics of both cyclical businesses (lumpy project-based revenue) and growth companies (expanding order books). This model blends two approaches 50/50: EV/EBITDA valuation (captures current earning power relative to peers) and FCF-based DCF (captures future cash generation potential). If EV/EBITDA produces a negative value (debt exceeds enterprise value), only DCF is used.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.50%

Betasector default

1.100

ERP

5.00%

CRP

4.00%

Cost of Equity (Ke)

14.00%

E/(D+E)

27.73%

Kd(1-t)

5.80%

D/(D+E)

72.27%

WACC

8.08%

Growth Estimate

ROIC x Reinvestment2.00%

ROIC

5.25%

Reinvestment Rate

33.33%

Growth

2.00%

Growth decays 12%/yr toward terminal

Model Inputs

Valuation

50%EV/EBITDA Value

10.3k

50%DCF Value

70.2k

Blended Intrinsic

40.3k

Value Decomposition

33%

67%

Explicit period (33%)Terminal value (67%)

Key Ratios

Fiscal year 2024

P/E

14.28

P/B

0.31

P/S

0.08

ROE

2.2%

ROA

0.6%

EPS

287.10

BVPS

13054.99

Gross Margin

6.3%

Net Margin

0.6%

D/E

2.61

Current Ratio

1.21

Rev Growth

66.8%

Profit Growth

30.3%

EV/EBITDA

4.98

Div Yield

0.0%

Company Overview

Issued Shares

7.0M

Charter Capital

70.0B VND

Sector (ICB L2)

Xây dựng và Vật liệu

Industry (ICB L3)

Xây dựng và Vật liệu

Sub-industry

Xây dựng

Company Type

Computed 06/03/2026