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Vietnamese (HOSE) Market Analysis & Valuation
UpdatedSep 18, 2025
DataAggregated Company Financials
Companies687
- 7D1.4%
- 3M23.0%
- 1Y31.7%
- YTD30.3%
The market is up 1.4% over the last week, with the Real Estate sector leading the way, up 3.8%. The market is up 32% over the last 12 months. Looking forward, earnings are forecast to grow by 16% annually.
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, 18 Sep 2025 | ₫7441.8t | ₫3813.1t | ₫469.3t | 14.9x | 15.9x | 2x |
| Sat, 16 Aug 2025 | ₫7295.5t | ₫3802.6t | ₫467.3t | 14.9x | 15.6x | 1.9x |
| Mon, 14 Jul 2025 | ₫6478.2t | ₫3738.2t | ₫434.2t | 14.3x | 14.9x | 1.7x |
| Wed, 11 Jun 2025 | ₫5711.0t | ₫3692.8t | ₫432.7t | 13.9x | 13.2x | 1.5x |
| Fri, 09 May 2025 | ₫5519.1t | ₫3677.6t | ₫431.0t | 13.8x | 12.8x | 1.5x |
| Sun, 06 Apr 2025 | ₫5297.1t | ₫3516.7t | ₫423.4t | 13.3x | 12.5x | 1.5x |
| Tue, 04 Mar 2025 | ₫5713.6t | ₫3453.6t | ₫422.3t | 14.3x | 13.5x | 1.7x |
| Thu, 30 Jan 2025 | ₫5507.7t | ₫3278.4t | ₫408.7t | 14.1x | 13.5x | 1.7x |
| Sat, 28 Dec 2024 | ₫5475.7t | ₫3012.4t | ₫373.9t | 14.4x | 14.6x | 1.8x |
| Mon, 25 Nov 2024 | ₫5248.9t | ₫3009.9t | ₫374.0t | 13.6x | 14x | 1.7x |
| Wed, 23 Oct 2024 | ₫5429.5t | ₫2945.2t | ₫355.5t | 14.1x | 15.3x | 1.8x |
| Fri, 20 Sep 2024 | ₫5433.3t | ₫2928.2t | ₫361.5t | 14.1x | 15x | 1.9x |
| Sun, 18 Aug 2024 | ₫5364.8t | ₫2928.2t | ₫360.4t | 14.9x | 14.9x | 1.8x |
| Tue, 16 Jul 2024 | ₫5438.2t | ₫2918.9t | ₫319.5t | 16.3x | 17x | 1.9x |
| Thu, 13 Jun 2024 | ₫5476.2t | ₫2804.9t | ₫346.3t | 16x | 15.8x | 2x |
| Sat, 11 May 2024 | ₫5292.2t | ₫2812.4t | ₫342.7t | 14.6x | 15.4x | 1.9x |
| Mon, 08 Apr 2024 | ₫5329.2t | ₫2801.4t | ₫345.4t | 15x | 15.4x | 1.9x |
| Wed, 06 Mar 2024 | ₫5361.9t | ₫2803.8t | ₫341.9t | 14.6x | 15.7x | 1.9x |
| Fri, 02 Feb 2024 | ₫4987.9t | ₫2825.8t | ₫329.9t | 14x | 15.1x | 1.8x |
| Sun, 31 Dec 2023 | ₫4816.4t | ₫2818.8t | ₫322.4t | 13.5x | 14.9x | 1.7x |
| Tue, 28 Nov 2023 | ₫4637.9t | ₫2818.9t | ₫320.0t | 12.8x | 14.5x | 1.6x |
| Thu, 26 Oct 2023 | ₫4659.9t | ₫2750.1t | ₫318.4t | 13.5x | 14.6x | 1.7x |
| Sat, 23 Sep 2023 | ₫5044.0t | ₫2747.7t | ₫321.0t | 14x | 15.7x | 1.8x |
| Mon, 21 Aug 2023 | ₫4957.5t | ₫2739.8t | ₫321.7t | 13.8x | 15.4x | 1.8x |
| Wed, 19 Jul 2023 | ₫4918.6t | ₫2725.7t | ₫318.2t | 13.3x | 15.5x | 1.8x |
| Fri, 16 Jun 2023 | ₫4689.8t | ₫2730.2t | ₫315.4t | 12.7x | 14.9x | 1.7x |
| Sun, 14 May 2023 | ₫4476.7t | ₫2731.4t | ₫322.3t | 12.2x | 13.9x | 1.6x |
| Tue, 11 Apr 2023 | ₫4482.3t | ₫2792.4t | ₫344.2t | 11x | 13x | 1.6x |
| Thu, 09 Mar 2023 | ₫4440.0t | ₫2789.0t | ₫344.6t | 10.4x | 12.9x | 1.6x |
| Sat, 04 Feb 2023 | ₫4756.3t | ₫2569.4t | ₫347.4t | 10.4x | 13.7x | 1.9x |
| Mon, 02 Jan 2023 | ₫4445.7t | ₫2689.2t | ₫356.1t | 9.5x | 12.5x | 1.7x |
| Wed, 30 Nov 2022 | ₫4537.8t | ₫2686.0t | ₫359.0t | 9.4x | 12.6x | 1.7x |
| Fri, 28 Oct 2022 | ₫4541.0t | ₫2579.6t | ₫358.1t | 10.1x | 12.7x | 1.8x |
| Sun, 25 Sep 2022 | ₫5077.4t | ₫2534.2t | ₫346.2t | 12.3x | 14.7x | 2x |
Price to Earnings Ratio
14.7x
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 14.4x.
Past Earnings Growth
- The earnings for Vietnamese listed companies have grown 11% per year over the last three years.
- Revenues for these companies have grown 15% 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 | 1.42% | |
| Tech | 4.51% | |
| Consumer Staples | 4.15% | |
| Real Estate | 3.76% | |
| Utilities | 2.01% | |
| Industrials | 1.65% | |
| Materials | 1.61% | |
| Consumer Discretionary | 1.58% | |
| Energy | 1.12% | |
| Healthcare | 1.11% | |
| Telecom | 0.31% | |
| Financials | -0.28% | |
Sector PE
- Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 24.8x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 23.0% which is higher than its past year's earnings decline of 10.4% per year.
- The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 30.5x.
Forecasted Growth
- Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 23% over the next 5 years.
- This is better than its past earnings decline of 10% per year.
- In contrast, the Utilities sector is expected to see its earnings grow by 11% 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 | |
|---|---|---|---|---|---|---|
| VIC Vingroup | ₫145.00k | 6.6% +₫33.5t | 238.0% | PE42.6x | Real Estate | |
| HVN Vietnam Airlines JSC | ₫37.90k | 15.2% +₫11.1t | 73.9% | PE9.8x | Industrials | |
| VNM Vietnam Dairy Products | ₫63.60k | 3.9% +₫5.0t | -13.2% | PE17.4x | Consumer Staples | |
| LPB Fortune Vietnam Commercial Bank | ₫45.40k | 3.2% +₫4.2t | 72.7% | PB3.3x | Financials | |
| VIX VIX Securities | ₫37.00k | 6.3% +₫3.4t | 240.8% | PE64.9x | Financials |
