Vietnamese (HOSE) Construction Industry Analysis

Industry Valuation and Performance

Has the Vietnamese Construction Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 15 May 2026	₫168.2t	₫216.6t	₫15.0t	12.2x	11.2x	0.8x
Sun, 12 Apr 2026	₫177.3t	₫213.3t	₫15.1t	11.9x	11.8x	0.8x
Tue, 10 Mar 2026	₫161.0t	₫211.0t	₫14.9t	11.8x	10.8x	0.8x
Thu, 05 Feb 2026	₫181.3t	₫204.4t	₫14.2t	12.7x	12.7x	0.9x
Sat, 03 Jan 2026	₫167.5t	₫192.9t	₫12.7t	12.6x	13.2x	0.9x
Mon, 01 Dec 2025	₫174.8t	₫193.2t	₫12.7t	13.6x	13.8x	0.9x
Wed, 29 Oct 2025	₫174.8t	₫181.6t	₫7.9t	18.3x	22x	1x
Fri, 26 Sep 2025	₫186.5t	₫179.0t	₫7.4t	18.5x	25.3x	1x
Sun, 24 Aug 2025	₫177.4t	₫178.6t	₫7.2t	17.9x	24.5x	1x
Tue, 22 Jul 2025	₫165.8t	₫173.2t	₫7.2t	19.3x	23.1x	1x
Thu, 19 Jun 2025	₫154.4t	₫171.4t	₫7.0t	19.9x	22x	0.9x
Sat, 17 May 2025	₫150.6t	₫168.0t	₫7.3t	20x	20.5x	0.9x
Mon, 14 Apr 2025	₫144.7t	₫164.8t	₫7.5t	18.9x	19.4x	0.9x
Wed, 12 Mar 2025	₫174.1t	₫150.0t	₫7.1t	20.7x	24.5x	1.2x
Fri, 07 Feb 2025	₫168.3t	₫133.1t	₫6.5t	18.9x	26x	1.3x
Sun, 05 Jan 2025	₫166.1t	₫118.8t	₫5.9t	18.2x	28x	1.4x
Tue, 03 Dec 2024	₫167.2t	₫119.3t	₫6.1t	16.7x	27.3x	1.4x
Thu, 31 Oct 2024	₫168.3t	₫110.9t	₫5.5t	20.9x	30.7x	1.5x
Sat, 28 Sep 2024	₫173.6t	₫107.2t	₫5.3t	18.5x	32.6x	1.6x
Mon, 26 Aug 2024	₫181.4t	₫114.3t	₫5.7t	18.1x	32x	1.6x
Wed, 24 Jul 2024	₫174.8t	₫106.7t	₫5.6t	18.8x	31.3x	1.6x
Fri, 21 Jun 2024	₫190.5t	₫98.7t	₫5.2t	19x	36.3x	1.9x
Sun, 19 May 2024	₫186.5t	₫98.2t	₫4.8t	21.2x	39x	1.9x
Tue, 16 Apr 2024	₫175.6t	₫82.8t	₫4.5t	23.3x	39.3x	2.1x
Thu, 14 Mar 2024	₫182.7t	₫82.8t	₫4.5t	25.2x	40.2x	2.2x
Sat, 10 Feb 2024	₫176.1t	₫81.3t	₫4.4t	24.9x	39.9x	2.2x
Mon, 08 Jan 2024	₫171.7t	₫81.6t	₫3.2t	23.4x	53.1x	2.1x
Wed, 06 Dec 2023	₫170.2t	₫81.2t	₫3.2t	21.2x	52.7x	2.1x
Fri, 03 Nov 2023	₫155.1t	₫82.0t	₫541.3b	24.8x	286.6x	1.9x
Sun, 01 Oct 2023	₫169.4t	₫83.0t	₫782.5b	29.1x	216.5x	2x
Tue, 29 Aug 2023	₫163.4t	₫83.0t	₫727.5b	30x	224.5x	2x
Thu, 27 Jul 2023	₫160.5t	₫85.3t	₫3.0t	25x	53.5x	1.9x
Sat, 24 Jun 2023	₫152.6t	₫85.4t	₫2.9t	27.7x	52.5x	1.8x
Mon, 22 May 2023	₫139.6t	₫82.4t	₫2.9t	24.5x	48.5x	1.7x

Current Industry PE

Investors are pessimistic on the Vietnamese Construction industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 11.2x which is lower than its 3-year average PE of 47.8x.

The 3-year average PS ratio of 1.5x is higher than the industry's current PS ratio of 0.78x.

Past Earnings Growth

The earnings for companies in the Construction industry have grown 73% per year over the last three years.
Revenues for these companies have grown 38% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Vietnamese Industrials industry?


VN Market	0.89%
Industrials	-0.082%
Construction	1.88%
Construction and Engineering	1.88%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
THD Thaiholdings	₫46.20k	45.3% +₫5.5t	63.8%	PE170.4x
DIG Development Investment Construction	₫14.85k	2.4% +₫278.8b	-1.6%	PE17.5x
HBC Hoa Binh Construction Group	₫5.75k	11.0% +₫197.9b	-42.8%	PE5.9x
SCG SCG Construction Group	₫69.10k	2.4% +₫136.0b	9.2%	PE18.2x
CDC Chuong Duong	₫21.10k	11.1% +₫110.8b	48.1%	PE72.9x

New major risk - Earnings quality

The company has a high level of non-cash earnings. Accrual ratio: 50% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. High level of non-cash earnings (50% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Revenue is less than US$5m (₫39b revenue, or US$1.5m). Market cap is less than US$100m (₫752.4b market cap, or US$28.6m).

Vietnamese (HOSE) Construction Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Investor sentiment deteriorates as stock falls 15%

Power Engineering Consulting Joint Stock Company 2, Annual General Meeting, Jun 30, 2026

New minor risk - Share price stability

New major risk - Share price stability

No independent directors

First quarter 2026 earnings released: EPS: ₫78.08 (vs ₫68.20 in 1Q 2025)

New major risk - Earnings quality

New major risk - Share price stability

Now 21% undervalued

SCG Construction Group Joint Stock Company, Annual General Meeting, Apr 25, 2026

Now 27% overvalued

Dat Phuong Group Joint Stock Company, Annual General Meeting, Apr 25, 2026

Viettel Construction Joint Stock Corporation, Annual General Meeting, Apr 22, 2026

Investor sentiment improves as stock rises 15%

Now 23% undervalued after recent price drop

Hoa Binh Construction Group Joint Stock Company, Annual General Meeting, Apr 24, 2026