Joint Stock Commercial Bank for Foreign Trade of Vietnam

HOSE:VCB Stock Report

Market Cap: ₫517.0t

Commercial Bank for Foreign Trade of Vietnam Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • 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 VCB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VCB (₫92500) is trading above our estimate of fair value (₫74576.71)

Significantly Below Fair Value: VCB is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VCB. This is calculated by dividing VCB's market cap by their current earnings.
What is VCB's PE Ratio?
PE Ratio16.1x
Earnings₫32.05t
Market Cap₫516.99t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VCB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.7x
BID Commercial Bank for Investment and Development of Vietnam
12.8x20.0%₫264.8t
CTG Vietnam Commercial Bank for Industry and Trade
9x23.4%₫194.1t
TCB Vietnam Technological and Commercial Bank
7.5x19.0%₫168.1t
MBB Military Commercial Bank
5.5x17.0%₫126.9t
VCB Commercial Bank for Foreign Trade of Vietnam
16.1x18.2%₫517.0t

Price-To-Earnings vs Peers: VCB is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the peer average (8.7x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VCB 16.1xIndustry Avg. 8.7xNo. of Companies85PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VCB is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the Asian Banks industry average (8.7x).

Price to Earnings Ratio vs Fair Ratio

What is VCB'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.

VCB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.1x
Fair PE Ratio9.5x

Price-To-Earnings vs Fair Ratio: VCB is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the estimated Fair Price-To-Earnings Ratio (9.5x).

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 VCB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₫92,500.00
₫107,445.40
+16.2%
16.8%₫135,000.00₫57,201.40n/a11
Dec ’25₫93,300.00
₫107,036.31
+14.7%
16.7%₫135,000.00₫57,201.40n/a11
Nov ’25₫93,500.00
₫106,278.22
+13.7%
17.3%₫135,000.00₫57,201.40n/a11
Oct ’25₫92,000.00
₫105,505.49
+14.7%
17.2%₫135,000.00₫57,201.40n/a11
Sep ’25₫91,700.00
₫104,677.14
+14.2%
18.1%₫135,000.00₫57,201.40n/a10
Aug ’25₫90,700.00
₫104,260.58
+15.0%
17.2%₫135,000.00₫57,201.40n/a11
Jul ’25₫86,100.00
₫102,223.03
+18.7%
17.3%₫135,000.00₫57,201.40n/a12
Jun ’25₫87,200.00
₫102,061.49
+17.0%
18.1%₫135,000.00₫57,201.40n/a11
May ’25₫91,200.00
₫101,779.67
+11.6%
18.0%₫135,000.00₫57,201.40n/a11
Apr ’25₫95,200.00
₫97,792.40
+2.7%
18.1%₫135,000.00₫57,201.40n/a11
Mar ’25₫97,300.00
₫94,094.85
-3.3%
14.1%₫105,000.00₫57,201.40n/a11
Feb ’25₫89,800.00
₫94,003.95
+4.7%
14.3%₫108,500.00₫57,201.40n/a11
Jan ’25₫80,300.00
₫94,003.95
+17.1%
14.3%₫108,500.00₫57,201.40n/a11
Dec ’24₫85,000.00
₫94,003.95
+10.6%
14.3%₫108,500.00₫57,201.40₫93,300.0011
Nov ’24₫87,800.00
₫93,035.51
+6.0%
14.6%₫105,900.00₫57,201.40₫93,500.0011
Oct ’24₫87,500.00
₫91,721.40
+4.8%
16.0%₫105,900.00₫57,201.40₫92,000.009
Sep ’24₫89,100.00
₫89,872.16
+0.9%
15.4%₫105,900.00₫57,201.40₫91,700.0010
Aug ’24₫91,200.00
₫85,080.42
-6.7%
13.0%₫99,100.00₫57,201.40₫90,700.0010
Jul ’24₫84,674.01
₫83,983.06
-0.8%
12.3%₫98,729.89₫57,201.40₫86,100.0012
Jun ’24₫79,508.89
₫82,801.57
+4.1%
13.1%₫98,729.89₫57,201.40₫87,200.0012
May ’24₫76,629.97
₫81,817.24
+6.8%
12.0%₫94,326.84₫57,201.40₫91,200.0012
Apr ’24₫77,392.04
₫78,045.20
+0.8%
11.3%₫91,701.95₫57,201.40₫95,200.0010
Mar ’24₫78,746.82
₫78,413.04
-0.4%
13.9%₫97,375.11₫57,201.40₫97,300.0011
Feb ’24₫75,444.54
₫77,520.12
+2.8%
13.1%₫97,375.11₫57,201.40₫89,800.0011
Jan ’24₫67,739.20
₫76,819.63
+13.4%
12.7%₫97,375.11₫57,201.40₫80,300.0011
Dec ’23₫67,739.20
₫77,270.95
+14.1%
12.8%₫97,375.11₫57,201.40₫85,000.0012

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 01:50
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Joint Stock Commercial Bank for Foreign Trade of Vietnam is covered by 20 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nga Thi TranBao Viet Securities Joint Stock Company
Hoa LeBao Viet Securities Joint Stock Company
Hoang NguyenBao Viet Securities Joint Stock Company