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VFS
SecuritiesCông ty Cổ phần Chứng khoán Nhất Việt
Dịch vụ tài chínhCK
14.800
VND · Last close
Valuation Verdict
Undervalued
-120%Fair Value+120%
Intrinsic Value
16.115
Current
14.800
Gap
+8.9%
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→5
2
Valuation
Fair P/B
1.30x
x
BVPS
12.380
=
Intrinsic Value
16.115
Valuation Track Record
Retroactive intrinsic value vs actual close price — VFS
Earnings Quality
Fiscal year 2025
40
Weak
Accrual Quality
49Cash Conversion
0Margin Stability
67Revenue Quality
54Quantitative Scores
F-Score
3/9
Weak
Sharpe
-0.02
Negative
Composite
44
Weak
Price Risk
Momentum
+5.1%
Volatility
27.7%
Max Drawdown
-45.8%
Key Ratios
Fiscal year 2025
1.20P/B
P/E14.00
ROE9.0%
ROA3.6%
EPS1064.18
BVPS12379.92
Net Margin29.3%
Rev Growth82.5%
Profit Growth19.0%
Div Yield0.0%
Company Overview
Issued Shares
140.0M
Charter Capital
1399.7B 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
> mapping common ownership for VFS — hover nodes for intel, click to navigate
Computed 12/04/2026