Asia Commercial Joint Stock Bank

HOSE:ACB Stock Report

Market Cap: ₫111.2t

Asia Commercial Bank Valuation

Is ACB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ACB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ACB (₫24900) is trading below our estimate of fair value (₫49580.76)

Significantly Below Fair Value: ACB is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ACB?

Key metric: As ACB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ACB. This is calculated by dividing ACB's market cap by their current earnings.
What is ACB's PE Ratio?
PE Ratio6.9x
Earnings₫16.10t
Market Cap₫111.22t

Price to Earnings Ratio vs Peers

How does ACB's PE Ratio compare to its peers?

The above table shows the PE ratio for ACB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.6x
MBB Military Commercial Bank
5.5x17.3%₫126.6t
LPB Fortune Vietnam Commercial Bank
14.6xn/a₫81.5t
HDB Ho Chi Minh City Development Commercial Bank
5.5xn/a₫71.9t
CTG Vietnam Commercial Bank for Industry and Trade
8.7x23.9%₫188.5t
ACB Asia Commercial Bank
6.9x13.7%₫111.2t

Price-To-Earnings vs Peers: ACB is good value based on its Price-To-Earnings Ratio (6.9x) compared to the peer average (8.6x).

Price to Earnings Ratio vs Industry

How does ACB's PE Ratio compare vs other companies in the Asian Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ACB 6.9xIndustry Avg. 8.6xNo. of Companies78PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ACB is good value based on its Price-To-Earnings Ratio (6.9x) compared to the Asian Banks industry average (8.6x).

Price to Earnings Ratio vs Fair Ratio

What is ACB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ACB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.9x
Fair PE Ratio8.1x

Price-To-Earnings vs Fair Ratio: ACB is good value based on its Price-To-Earnings Ratio (6.9x) compared to the estimated Fair Price-To-Earnings Ratio (8.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ACB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₫24,900.00
₫30,338.67
+21.8%
6.6%₫33,133.00₫27,100.00n/a12
Nov ’25₫24,900.00
₫30,210.33
+21.3%
6.8%₫33,133.00₫27,400.00n/a9
Oct ’25₫25,750.00
₫29,599.95
+15.0%
6.2%₫33,133.00₫27,400.00n/a10
Sep ’25₫24,800.00
₫29,285.65
+18.1%
5.0%₫32,000.00₫27,400.00n/a9
Aug ’25₫23,950.00
₫30,676.96
+28.1%
14.8%₫43,615.65₫27,400.00n/a10
Jul ’25₫23,800.00
₫31,092.13
+30.6%
14.8%₫43,615.65₫27,700.00n/a9
Jun ’25₫24,650.00
₫31,144.73
+26.3%
14.8%₫43,615.65₫27,739.13n/a9
May ’25₫23,347.83
₫30,439.42
+30.4%
15.7%₫43,615.65₫26,782.61n/a9
Apr ’25₫24,739.13
₫29,128.02
+17.7%
18.5%₫43,615.65₫24,797.39n/a9
Mar ’25₫24,173.91
₫28,915.46
+19.6%
18.8%₫43,615.65₫24,797.39n/a9
Feb ’25₫22,608.70
₫27,997.83
+23.8%
19.7%₫43,615.65₫22,173.91n/a10
Jan ’25₫20,782.61
₫27,284.26
+31.3%
21.2%₫43,616.52₫22,086.96n/a10
Dec ’24₫19,086.96
₫27,284.26
+42.9%
21.2%₫43,616.52₫22,086.96n/a10
Nov ’24₫18,782.61
₫26,418.52
+40.7%
14.3%₫36,344.35₫22,086.96₫24,900.0010
Oct ’24₫19,000.00
₫26,184.61
+37.8%
14.4%₫36,344.35₫22,086.96₫25,750.0010
Sep ’24₫19,652.17
₫25,796.21
+31.3%
12.8%₫34,460.00₫22,086.96₫24,800.0010
Aug ’24₫19,869.57
₫25,200.67
+26.8%
15.1%₫34,460.00₫21,140.26₫23,950.0010
Jul ’24₫19,173.91
₫26,011.63
+35.7%
14.5%₫34,460.00₫21,140.26₫23,800.0010
Jun ’24₫18,608.70
₫25,424.39
+36.6%
11.5%₫30,194.33₫21,140.26₫24,650.008
May ’24₫18,298.68
₫25,216.45
+37.8%
11.8%₫30,194.33₫21,140.26₫23,347.838
Apr ’24₫18,903.59
₫25,189.31
+33.3%
12.6%₫30,194.33₫21,140.26₫24,739.137
Mar ’24₫19,017.01
₫24,715.50
+30.0%
12.6%₫30,194.33₫21,140.26₫24,173.918
Feb ’24₫19,054.82
₫24,325.14
+27.7%
13.8%₫30,194.33₫19,886.58₫22,608.709
Jan ’24₫16,559.55
₫24,671.46
+49.0%
12.9%₫30,194.33₫19,886.58₫20,782.619
Dec ’23₫17,013.23
₫25,238.81
+48.3%
13.5%₫30,194.33₫19,886.58₫19,086.9610
Nov ’23₫16,975.43
₫25,980.73
+53.0%
7.9%₫29,943.29₫23,213.61₫18,782.6110

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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