Intrinsic value vs last close
Model estimate- Last close (USD)
- 542.50
- Intrinsic value (USD)
- 367.91
Intrinsic value = sector model's value (no adjustment)
Earnings-capitalised value
Cost of equity 11.9% · price volatility 29.5%
Last year's earnings per share, capitalised at a cost of equity that rises with this share's own price swings, growing at the sector's long-run rate.
This is a different figure from the intrinsic value above. The intrinsic value is what the sector model says the business is worth. On Vietnamese stocks this figure has ranked future returns best in our track record; this market has no track record here yet.
- Model reliability
- Medium
- Model fitInput stabilityRisk checks
- High requires the model’s diagnostic criteria to be met.
- Probability of outperforming peers
- Not assessed
- A separate peer-outperformance probability is unavailable for this valuation.
These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.
Valuation Breakdown
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
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).
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.
Stable consumer businesses (food, beverage, retail, healthcare) with predictable, positive free cash flows.
We compare the sector model's value with the last close. This market has no track record here yet, so the value is shown as the model gives it.
Intrinsic value = sector model's value (no adjustment)
DCF Sensitivity
Values from the standalone DCF scenarios below. These scenarios leave out the other parts of a blended model and do not reproduce the headline value.
Earnings Quality
Quantitative Scores
Key Ratios
- P/B
- 7.35
- P/S
- 11.43
- ROE
- 21.2%
- EPS
- 15.46
- BVPS
- 73.00
- Net Margin
- 32.9%
- D/E
- 0.00
- Rev Growth
- +8.9%
- EV/EBITDA
- 29.79
- Div Yield
- —
Company Overview
- Shares outstanding
- 254M
- Industry
- Pharmaceutical Preparations