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MVN
ConstructionTổng Công ty Hàng hải Việt Nam - CTCP
Hàng & Dịch vụ Công nghiệp/Vận tảiCT
64.300
VND · Last close
Valuation Verdict
Undervalued
−120%Fair Value+120%
Intrinsic Value
7.35M
Current
64.3k
Gap
+500.0%
ModelEV EBITDA DCF BLEND
Valuation Breakdown
CT→Hàng & Dịch vụ Công nghiệp→Construction
Classified as construction because ICB sector "Hàng & Dịch vụ Công nghiệp" maps to the construction group
ModelEV/EBITDA + DCF Blend
Intrinsic = 50% x EV/EBITDA Value + 50% x DCF ValueConstruction 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.
1
Weighted Avg Cost of Capital
Risk-Free (Rf)
4.50%
+
Betasector default
1.100
x
ERP
5.00%
+
CRP
4.00%
=
Cost of Equity (Ke)
14.00%
Ke
14.00%
x
E/(D+E)
54.41%
+
Kd(1-t)
6.53%
x
D/(D+E)
45.59%
=
WACC
10.60%
2
Growth Estimate
ROIC x Reinvestment6.83%
ROIC
6.83%
x
Reinvestment Rate
100.00%
=
Growth
6.83%
Growth decays 12%/yr toward terminal
3
Model Inputs
4
Valuation
50%EV/EBITDA Value
9.12M
50%DCF Value
5.57M
Blended Intrinsic
7.35M
Value Decomposition
42%
58%
Explicit period (42%)Terminal value (58%)
Key Ratios
Fiscal year 2025
P/E
38.82
P/B
5.37
P/S
3.98
ROE
14.7%
ROA
5.9%
EPS
1624.41
BVPS
11746.24
Gross Margin
18.1%
Net Margin
10.3%
D/E
0.84
Current Ratio
1.65
Rev Growth
12.1%
Profit Growth
-3.5%
EV/EBITDA
22.40
Div Yield
0.0%
Company Overview
Issued Shares
6.4M
Charter Capital
12005.9B VND
Sector (ICB L2)
Hàng & Dịch vụ Công nghiệp
Industry (ICB L3)
Vận tải
Sub-industry
Vận tải Thủy
Company Type
CT
Computed 06/03/2026