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Vietnamese (HOSE) Market Analysis & Valuation
UpdatedJan 29, 2026
DataAggregated Company Financials
Companies697
- 7D-4.1%
- 3M8.0%
- 1Y41.6%
- YTD1.1%
Over the last 7 days, the market has dropped 4.1%, driven by a decline of 11% in the Real Estate sector. In contrast, the Utilities sector has actually gained 3.6%. In contrast to the last week, the market is actually up 42% over the past year. As for the next few years, earnings are expected to grow by 17% per annum.
Market Valuation and Performance
Has the Vietnamese Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 29 Jan 2026 | ₫8781.9t | ₫4117.9t | ₫540.2t | 12.3x | 16.3x | 2.1x |
| Sat, 27 Dec 2025 | ₫8420.8t | ₫4055.1t | ₫518.7t | 12.3x | 16.2x | 2.1x |
| Mon, 24 Nov 2025 | ₫7690.5t | ₫4017.1t | ₫509.3t | 12.6x | 15.1x | 1.9x |
| Wed, 22 Oct 2025 | ₫7599.8t | ₫3849.8t | ₫486.8t | 13.9x | 15.6x | 2x |
| Fri, 19 Sep 2025 | ₫7414.7t | ₫3813.1t | ₫469.3t | 14.9x | 15.8x | 1.9x |
| Sun, 17 Aug 2025 | ₫7295.5t | ₫3802.6t | ₫467.3t | 14.9x | 15.6x | 1.9x |
| Tue, 15 Jul 2025 | ₫6532.1t | ₫3738.2t | ₫434.2t | 14.3x | 15x | 1.7x |
| Thu, 12 Jun 2025 | ₫5705.3t | ₫3692.5t | ₫432.7t | 13.9x | 13.2x | 1.5x |
| Sat, 10 May 2025 | ₫5507.0t | ₫3678.5t | ₫431.8t | 13.8x | 12.8x | 1.5x |
| Mon, 07 Apr 2025 | ₫5297.1t | ₫3516.7t | ₫423.4t | 13.3x | 12.5x | 1.5x |
| Wed, 05 Mar 2025 | ₫5720.6t | ₫3454.9t | ₫422.2t | 14.3x | 13.6x | 1.7x |
| Fri, 31 Jan 2025 | ₫5507.7t | ₫3282.9t | ₫408.8t | 14.1x | 13.5x | 1.7x |
| Sun, 29 Dec 2024 | ₫5475.7t | ₫3012.5t | ₫374.0t | 14.4x | 14.6x | 1.8x |
| Tue, 26 Nov 2024 | ₫5274.6t | ₫3009.9t | ₫374.0t | 13.5x | 14.1x | 1.8x |
| Thu, 24 Oct 2024 | ₫5435.4t | ₫2946.4t | ₫356.6t | 14.1x | 15.2x | 1.8x |
| Sat, 21 Sep 2024 | ₫5437.7t | ₫2928.4t | ₫361.6t | 14.2x | 15x | 1.9x |
| Mon, 19 Aug 2024 | ₫5365.0t | ₫2928.2t | ₫360.4t | 15x | 14.9x | 1.8x |
| Wed, 17 Jul 2024 | ₫5453.3t | ₫2918.9t | ₫319.5t | 16.3x | 17.1x | 1.9x |
| Fri, 14 Jun 2024 | ₫5520.9t | ₫2804.9t | ₫346.3t | 16x | 15.9x | 2x |
| Sun, 12 May 2024 | ₫5292.2t | ₫2812.1t | ₫342.7t | 14.6x | 15.4x | 1.9x |
| Tue, 09 Apr 2024 | ₫5307.5t | ₫2802.7t | ₫345.4t | 14.8x | 15.4x | 1.9x |
| Thu, 07 Mar 2024 | ₫5333.3t | ₫2803.6t | ₫341.8t | 14.7x | 15.6x | 1.9x |
| Sat, 03 Feb 2024 | ₫4986.7t | ₫2854.6t | ₫336.7t | 14x | 14.8x | 1.7x |
| Mon, 01 Jan 2024 | ₫4816.4t | ₫2818.8t | ₫322.4t | 13.5x | 14.9x | 1.7x |
| Wed, 29 Nov 2023 | ₫4667.1t | ₫2818.9t | ₫320.0t | 12.8x | 14.6x | 1.7x |
| Fri, 27 Oct 2023 | ₫4465.8t | ₫2783.7t | ₫312.9t | 13.1x | 14.3x | 1.6x |
| Sun, 24 Sep 2023 | ₫5044.0t | ₫2747.7t | ₫321.0t | 14x | 15.7x | 1.8x |
| Tue, 22 Aug 2023 | ₫4957.5t | ₫2739.8t | ₫321.8t | 13.8x | 15.4x | 1.8x |
| Thu, 20 Jul 2023 | ₫4914.2t | ₫2725.5t | ₫318.1t | 13.2x | 15.4x | 1.8x |
| Sat, 17 Jun 2023 | ₫4681.7t | ₫2730.2t | ₫315.4t | 12.7x | 14.8x | 1.7x |
| Mon, 15 May 2023 | ₫4476.7t | ₫2725.5t | ₫321.0t | 12x | 13.9x | 1.6x |
| Wed, 12 Apr 2023 | ₫4481.6t | ₫2793.0t | ₫343.9t | 11.1x | 13x | 1.6x |
| Fri, 10 Mar 2023 | ₫4464.0t | ₫2789.1t | ₫344.6t | 10.5x | 13x | 1.6x |
| Sun, 05 Feb 2023 | ₫4559.2t | ₫2616.2t | ₫351.6t | 10.4x | 13x | 1.7x |
Price to Earnings Ratio
13x
Current Market PE
- Investors are relatively neutral on the Vietnamese market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 14.8x.
Past Earnings Growth
- The earnings for Vietnamese listed companies have grown 15% per year over the last three years.
- Revenues for these companies have grown 16% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Vietnamese Market?
| VN Market | -4.10% | |
| Utilities | 3.57% | |
| Consumer Discretionary | 0.79% | |
| Healthcare | 0.63% | |
| Materials | 0.46% | |
| Energy | -0.085% | |
| Tech | -0.92% | |
| Consumer Staples | -2.10% | |
| Telecom | -2.50% | |
| Financials | -2.85% | |
| Industrials | -4.14% | |
| Real Estate | -11.13% | |
Sector PE
- Investors favour the Real Estate sector the most for future growth, which is trading above its 3-year average PE ratio of 19.1x.
- Analysts are expecting annual earnings growth of 23.7%, which is lower than the prior year's growth of 33.5% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 27.5x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 24% over the next 5 years.
- However this is lower than its past earnings growth rate of 34% per year.
- In contrast, the Industrials sector is expected to see its earnings grow by 9.8% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| GAS Petrovietnam Gas | ₫116.80k | 11.5% +₫29.0t | 77.2% | PE23.7x | Utilities | |
| KSV Vinacomin - Minerals Holding | ₫214.90k | 43.3% +₫13.0t | 34.3% | PE22.6x | Materials | |
| GVR Vietnam Rubber Group - | ₫40.85k | 4.7% +₫7.4t | 41.8% | PE28.2x | Materials | |
| MSN Masan Group | ₫84.10k | 5.3% +₫6.1t | 23.7% | PE29.6x | Consumer Staples | |
| PNJ Phu Nhuan Jewelry | ₫126.50k | 14.6% +₫5.5t | 29.6% | PE20.1x | Consumer Discretionary |
