Hoa Sen Group

HOSE:HSG Stock Report

Market Cap: ₫11.7t

Hoa Sen Group Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: HSG (₫18800) is trading below our estimate of fair value (₫35657.4)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HSG. This is calculated by dividing HSG's market cap by their current earnings.
What is HSG's PE Ratio?
PE Ratio22.9x
Earnings₫510.12b
Market Cap₫11.67t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HSG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.7x
NKG Nam Kim Steel
11.5x36.7%₫5.1t
HPG Hoa Phat Group
14x24.2%₫165.3t
VCS Vicostone
12.6xn/a₫10.3t
KSV Vinacomin - Minerals Holding
12.6xn/a₫10.2t
HSG Hoa Sen Group
22.9x45.4%₫11.7t

Price-To-Earnings vs Peers: HSG is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the peer average (12.7x).

Price to Earnings Ratio vs Industry

How does HSG's PE Ratio compare vs other companies in the Asian Metals and Mining Industry?

30 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HSG 22.9xIndustry Avg. 19.4xNo. of Companies94PE01632486480+
30 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HSG is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the Asian Metals and Mining industry average (19.4x).

Price to Earnings Ratio vs Fair Ratio

What is HSG'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.

HSG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.9x
Fair PE Ratio21.4x

Price-To-Earnings vs Fair Ratio: HSG is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the estimated Fair Price-To-Earnings Ratio (21.4x).

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 HSG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₫18,800.00
₫24,892.86
+32.4%
11.1%₫28,350.00₫19,600.00n/a7
Nov ’25₫20,200.00
₫24,892.86
+23.2%
11.1%₫28,350.00₫19,600.00n/a7
Oct ’25₫21,300.00
₫25,041.67
+17.6%
11.8%₫28,350.00₫19,600.00n/a6
Sep ’25₫20,800.00
₫24,808.33
+19.3%
14.6%₫28,350.00₫17,400.00n/a6
Aug ’25₫20,850.00
₫24,241.67
+16.3%
14.6%₫28,350.00₫17,400.00n/a6
Jul ’25₫24,400.00
₫24,325.00
-0.3%
14.6%₫28,350.00₫17,400.00n/a6
Jun ’25₫21,800.00
₫23,858.33
+9.4%
15.5%₫28,350.00₫17,400.00n/a6
May ’25₫19,400.00
₫23,141.67
+19.3%
21.8%₫28,350.00₫13,100.00n/a6
Apr ’25₫23,600.00
₫22,270.00
-5.6%
22.9%₫28,350.00₫13,100.00n/a5
Mar ’25₫23,050.00
₫21,660.00
-6.0%
20.7%₫25,300.00₫13,100.00n/a5
Feb ’25₫22,900.00
₫21,180.00
-7.5%
20.0%₫25,300.00₫13,100.00n/a5
Jan ’25₫22,800.00
₫20,625.00
-9.5%
22.1%₫25,300.00₫13,100.00n/a4
Dec ’24₫21,750.00
₫20,625.00
-5.2%
22.1%₫25,300.00₫13,100.00n/a4
Nov ’24₫17,700.00
₫19,300.00
+9.0%
21.9%₫25,000.00₫13,100.00₫20,200.004
Oct ’24₫20,000.00
₫18,600.00
-7.0%
23.7%₫25,000.00₫13,100.00₫21,300.004
Sep ’24₫20,000.00
₫18,600.00
-7.0%
23.7%₫25,000.00₫13,100.00₫20,800.004
Aug ’24₫18,600.00
₫16,045.87
-13.7%
17.2%₫20,000.00₫13,100.00₫20,850.004
Jul ’24₫16,450.00
₫14,150.49
-14.0%
8.4%₫16,019.42₫12,718.45₫24,400.004
Jun ’24₫14,757.28
₫14,150.49
-4.1%
8.4%₫16,019.42₫12,718.45₫21,800.004
May ’24₫15,048.54
₫14,296.12
-5.0%
8.3%₫16,019.42₫12,718.45₫19,400.004
Apr ’24₫15,631.07
₫14,296.12
-8.5%
8.3%₫16,019.42₫12,718.45₫23,600.004
Mar ’24₫15,097.09
₫14,296.12
-5.3%
8.3%₫16,019.42₫12,718.45₫23,050.004
Feb ’24₫14,223.30
₫12,200.65
-14.2%
11.1%₫13,980.58₫10,679.61₫22,900.003
Jan ’24₫11,213.59
₫11,909.39
+6.2%
14.3%₫13,980.58₫9,805.83₫22,800.003
Dec ’23₫11,165.05
₫10,873.79
-2.6%
9.8%₫11,941.75₫9,805.83₫21,750.002

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

Discover undervalued companies

Ha Giang Mineral Mechanics

₫1.7t

Explores, extracts, and process mineral ores in Vietnam and internationally.

HGM

₫134,800.00

7D

-7.4%

1Y

n/a

An Phat Bioplastics

₫3.2t

Engages in the manufacture and sale of plastic products in Vietnam and internationally.

AAA

₫8,400.00

7D

1.2%

1Y

-7.2%

Vicostone

₫10.3t

Engages in the manufacture and sale of quartz based engineered stones in Asia and internationally.

VCS

₫64,100.00

7D

-5.7%

1Y

11.9%