WSS

Công ty Cổ phần Chứng khoán Phố Wall

VietnamSecuritiesDịch vụ tài chínhHNXCK

5.900

VND · Close 3 Nov 2026

Calibrated intrinsic value vs last close

Illustrative estimate

Close near calibrated value

−1.1%Calibrated value vs last close

−50%At last close+100%+500%

Last close (VND): 5.900
Calibrated intrinsic value (VND): 5.832

Last close × (1 + calibrated gap / 100)

Earnings-capitalised value

Not available: the company reported a loss last year or its shares have too short a price history.

How it is calculated

1
Measure the gap
Between the model and the last close.
2
Check the record2015–2024
What gaps of that size went on to earn over the following year.
3
Apply to the close
That return is applied to the last close.

Keep in mind

For illustration only: not a validated forecast.
No uncertainty range: the estimate is a single figure.
Older record: it has not been re-measured on the current data.

Also note

Trading liquidity is low.

Comparison assessed 3 Nov 2026Valid through 3 Dec 2026

Model reliability: Low; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: 48.5%; 12 monthsHistorical calibration; Chance the return beats the median return of its sector peers.

Assessed 30 Oct 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

12-month sector-relative outlook

−0.5percentage points

Securities12 monthsBack-test 2015–2024

Median 12-month return difference versus Securities peers, for model gaps like this one.

Not an absolute return forecast.
Not a price target.
A stock can underperform its sector and still rise.

Computed 30 Oct 2026Not updated with daily prices

Sector calibration span · percentage points

−8.1+7.1

The sector’s historical range, not a prediction interval for this stock.
Actual returns can fall outside it.

Published filingsValued 30 Oct 2026Anchored to close on 3 Nov 2026Recalculated when the displayed close changes.

Valuation Breakdown

CK→Securities

Classified as securities because company type is CK (securities firm).

ModelCycle-Adjusted P/B

Intrinsic Value = (50% × Own 5yr median P/B + 50% × ROE-adjusted peer P/B) × BVPS

Securities firms (brokerages) earn in step with market trading volumes, so a single year's multiple can sit at a peak or a trough. This model takes the firm's median price-to-book (P/B) over the last 5 years and averages it 50/50 with the median P/B of peer brokers, adjusted for how this firm's ROE compares with theirs.

Technical details

Why this model

Brokerage earnings are highly cyclical, tied to market volumes. A single-year P/B snapshot at a market peak would overvalue the firm; at a trough, undervalue it. A multi-year median and a peer anchor steady the reference point.

How it works

Fair P/B = 50% × the firm's own 5-year median P/B + 50% × the peer median P/B × (firm ROE / peer median ROE, held within 0.7× to 1.5×). Peers are brokers the market prices on their earnings (positive ROE, P/B at most 3.0×); with fewer than 4 peers, the firm's own median is used alone. Fair P/B (at least 0.3×) is multiplied by current BVPS.

Best for

Brokerage and securities firms whose valuations are dominated by market sentiment and trading volume cycles.

Model Inputs

Years of data→5

Valuation

We take the model’s gap to the last close, read what gaps of that size went on to earn over the following year in our 2015 to 2024 record, and apply that to the last close.

Last close (VND)→5.900

Calibrated value vs last close→−1.1%

Last close × (1 + calibrated gap / 100)

Calibrated intrinsic value (VND)

5.832

What feeds each step— click a source to highlight it in the statements

Profitability & book valuepeer source: dynamic

WSS among Securities

Every stock in the sector, WSS marked: calibrated gap vs close across, market value up, model reliability into the board

Each bead is one valued stock in the sector; the amber bead with its stem is WSS. Drag to turn; open another stock from its bead.

Feeds valuation:Model inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
CURRENT ASSETS (Bn. VND)	·	521	454	485	486	502	491	525	619	563	461	455	441	345	309	378	473	292	86
Cash and cash equivalents (Bn. VND)	·	6	86	22	2	20	24	76	69	159	67	44	55	50	70	111	154	43	42
Short-term investments (Bn. VND)	·	450	355	345	338	333	349	312	488	342	378	398	368	260	224	252	286	245	33
Accounts receivable (Bn. VND)	·	54	1.0	107	136	139	106	244	49	49	4	1	5	22	0.5	2	18	3	11
Prepayments to suppliers (Bn. VND)	·	0.01	0.1	95	118	128	85	117	44	44	0.07	386,997	0.08	6	0.01	0.05	0.06	0.3	6
Other current assets	·	11	11	11	11	10	13	13	13	12	12	12	13	14	14	14	15	0.6	0.5
Other current assets (Bn. VND)	·	0.03	0.03	0.03	0.01	0.01	0.2	0.01	0.01	0.01	0.01	0	0.2	0.8	0.7	0.02	0.07	0.05	0.4
LONG-TERM ASSETS (Bn. VND)	·	14	34	34	34	35	35	36	36	31	75	76	93	172	219	146	61	150	95
Long-term trade receivables (Bn. VND)	·	0	0	0	0	0	0	0	0	0	44	44	0	0	0	0	0	0	0
Other long-term receivables (Bn. VND)	·	0	0	0	0	0	0	0	0	0	44	44	0	0	0	0	0	0	0
Fixed assets (Bn. VND)	·	0.8	0.5	0.4	0.3	0.3	0.3	0.2	0.5	0.7	1.0	1	2	2	4	6	6	6	4
Tangible fixed assets	·	0.5	0.5	0.4	0.3	0.3	0.3	0.2	0.4	0.5	0.7	1	2	2	3	5	5	5	4
Intagible fixed assets	·	0.3	0	0	0.01	0.03	−0.02	0.03	0.10	0.2	0.3	0.04	0.07	0.05	0.4	1.0	1	1	0
Long-term investments (Bn. VND)	·	0	19	19	19	20	20	20	20	14	14	14	74	101	196	136	48	141	86
Other long-term assets (Bn. VND)	·	0	20	20	20	20	20	20	20	14	14	14	15	40	123	123	15	88	39
Less: Provision for diminuation in value of long term investments	·	0	−0.3	−1.0	−1	0	0	0	0	0	0	−0.01	−0.03	−4	−14	−14	−20	0	0
Other non-current assets	·	13	14	14	15	15	15	16	16	16	16	17	17	68	19	3	7	3	4
Long-term prepayments (Bn. VND)	·	8	9	9	10	10	11	11	12	12	13	13	14	16	17	0.2	3	2	3
TOTAL ASSETS (Bn. VND)	·	535	488	519	520	537	527	561	655	594	536	531	534	517	528	524	534	442	181
LIABILITIES (Bn. VND)	·	6	5	4	7	5	4	49	63	46	4	4	14	6	17	12	24	40	11
Current liabilities (Bn. VND)	·	6	5	4	7	5	4	49	63	46	4	4	14	6	17	12	24	40	11
Short-term borrowings (Bn. VND)	·	0	0	0	0	0	0	44	55	43	0	0	0	0	2	0	0	0	0
Advances from customers (Bn. VND)	·	2	1	0.9	1.0	0.9	0.9	1.0	3	0.6	0.8	1	0.5	0.05	0	0	0.04	10	0.08
Long-term liabilities (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	0.09	0.09	0	0	0	0	0	0
OWNER'S EQUITY(Bn.VND)	·	529	483	515	513	532	523	512	592	547	532	527	520	511	510	511	510	402	170
Capital and reserves (Bn. VND)	·	529	483	515	513	532	523	512	592	547	532	527	520	511	510	511	510	402	170
Paid-in capital (Bn. VND)	·	503	503	503	503	503	503	503	503	503	503	503	503	503	503	503	503	366	168
Undistributed earnings (Bn. VND)	·	18	−28	4	2	20	12	0.8	81	36	21	16	9	−0.4	−1	0.1	0.3	29	2
TOTAL RESOURCES (Bn. VND)	·	535	488	519	520	537	527	561	655	594	536	531	534	517	528	524	534	442	181
Common shares (Bn. VND)	·	503	503	503	503	503	503	503	503	503	503	503	503	503	503	503	503	366	168

Earnings Quality

Fiscal year 2025

Poor

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Quantitative Scores

F-Score

5/9

Neutral

Sharpe

−0.69

Negative

Composite

50 to 69

Piotroski F-Score Breakdown

✓Net Income > 0

✗Operating CF > 0

✓ROA Rising

✗OCF > Net Income

✗Lower Leverage

✗Better Liquidity

✓No Dilution

✓Margin Up

✓Turnover Up

DuPont Decomposition

Tax Burden1.00×Interest Burden1.01×Op. Margin0.58×Turnover0.15×Leverage1.01=ROE8.6%

Price Risk

Momentum

−17.8%

Volatility

28.7%

Max Drawdown

−20.5%

Key Ratios

Fiscal year 2025

0.56P/B

P/E: 6.51
ROE: 9.0%
ROA: 8.9%
EPS: 907
BVPS: 10.518
Net Margin: 58.1%
Rev Growth: +295.1%
Profit Growth: +244.2%
Div Yield: —

Company Overview

Shares outstanding: 50.3M
Charter Capital: 503B 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

Shareholder structure

Shareholders

Nguyễn Đình Việt

Indiv

29.8%

15.0M

2026-06-30

Nguyễn Đình Tú

Indiv

22.5%

11.3M

2026-06-30

Phạm Diễm Hoa

Indiv

5.8%

2.9M

2023-12-31

Phạm Xuân Phương

Indiv

3.4%

1.7M

2013-12-31

Ngô Tiến Minh

Indiv

2.6%

1.3M

2021-12-31

Nguyễn Đình Bách

Indiv

2.0%

1.0M

2026-06-30

Phạm Thu Hương

Indiv

1.1%

551,200

2021-12-31

Phạm Thị Lợi

Indiv

0.2%

100,000

2015-08-26

Board & Management

Nguyễn Đình Tú22.5%

Chairman of Management Board

Trần Anh Dũng

Independent Member of Management Board

Computed 30/10/2026

Calibrated intrinsic value vs last close

Earnings-capitalised value

How it is calculated

Keep in mind

Also note

12-month sector-relative outlook

Valuation Breakdown

WSS among Securities

Financial Statements

Earnings Quality

Quantitative Scores

Key Ratios

Company Overview

Ownership network

Ownership network

WSS among Securities