Song Hong Construction Joint Stock Company

HNX:ICG Stock Report

Market Cap: ₫138.0b

Song Hong Construction Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: ICG (₫7000) is trading above our estimate of fair value (₫4180.25)

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

Key Valuation Metric

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

Key metric: As ICG barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ICG. This is calculated by dividing ICG's market cap by their current book value.
What is ICG's PB Ratio?
PB Ratio0.5x
Book₫284.27b
Market Cap₫138.00b

Price to Book Ratio vs Peers

How does ICG's PB Ratio compare to its peers?

The above table shows the PB ratio for ICG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1x
TV3 Power Engineering Consulting 3
0.7xn/a₫99.9b
L40 40 Investment and Construction
2xn/a₫144.0b
SDT Song Da No 10 JSC
0.2xn/a₫128.2b
TV4 Power Engineering Consulting 4
1.1xn/a₫290.8b
ICG Song Hong Construction
0.5xn/a₫138.0b

Price-To-Book vs Peers: ICG is good value based on its Price-To-Book Ratio (0.5x) compared to the peer average (1x).

Price to Book Ratio vs Industry

How does ICG's PB Ratio compare vs other companies in the VN Construction Industry?

1 CompanyPrice / BookEstimated GrowthMarket Cap
TKC Tan Ky Construction Real Estate Trading
0.1xn/aUS$740.29k
No more companies available in this PB range
ICG 0.5xIndustry Avg. 0.9xNo. of Companies8PB00.61.21.82.43+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ICG is good value based on its Price-To-Book Ratio (0.5x) compared to the VN Construction industry average (0.9x).

Price to Book Ratio vs Fair Ratio

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

ICG PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ICG's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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