Vincom Retail Joint Stock Company

HOSE:VRE Stock Report

Market Cap: ₫91.7t

Vincom Retail Valuation

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

Below Fair Value: Insufficient data to calculate VRE's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate VRE's fair value for valuation analysis.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VRE. This is calculated by dividing VRE's market cap by their current earnings.
What is VRE's PE Ratio?
PE Ratio20.8x
Earnings₫4.40t
Market Cap₫91.69t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VRE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average33.4x
KBC KinhBac City Development Holding
23.8x36.35%₫33.6t
SIP Sai Gon VRG Investment
11.4x5.44%₫13.4t
TAL Taseco Land Investment
21.8xn/a₫15.0t
HDC Ba Ria - Vung Tau House Development
76.5x43.86%₫6.6t
VRE Vincom Retail
20.8x8.02%₫91.7t

Price-To-Earnings vs Peers: VRE is good value based on its Price-To-Earnings Ratio (20.8x) compared to the peer average (33.4x).

Price to Earnings Ratio vs Industry

How does VRE's PE Ratio compare vs other companies in the VN Real Estate Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TDC Binh Duong Trade and Development
3xn/aUS$60.43m
D2D NO. 2 Industrial Urban Development
3.8xn/aUS$42.55m
VPH Van Phat Hung
3.2xn/aUS$19.53m
No more companies available in this PE range
VRE 20.8xIndustry Avg. 31.9xNo. of Companies8PE020406080100+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VRE is good value based on its Price-To-Earnings Ratio (20.8x) compared to the VN Real Estate industry average (31.9x).

Price to Earnings Ratio vs Fair Ratio

What is VRE'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.

VRE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.8x
Fair PE Ratio21.6x

Price-To-Earnings vs Fair Ratio: VRE is good value based on its Price-To-Earnings Ratio (20.8x) compared to the estimated Fair Price-To-Earnings Ratio (21.6x).

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 VRE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₫40,350.00
₫28,464.29
-29.46%
14.66%₫33,500.00₫22,000.00n/a7
Oct ’26₫33,150.00
₫28,056.25
-15.37%
14.44%₫33,500.00₫22,000.00n/a8
Sep ’26₫30,400.00
₫27,443.75
-9.72%
12.81%₫32,500.00₫22,000.00n/a8
Aug ’26₫28,450.00
₫27,443.75
-3.54%
12.81%₫32,500.00₫22,000.00n/a8
Jul ’26₫24,800.00
₫27,394.44
+10.46%
13.62%₫34,500.00₫22,900.00n/a9
Jun ’26₫27,500.00
₫27,394.44
-0.38%
13.62%₫34,500.00₫22,900.00n/a9
May ’26₫23,650.00
₫25,643.75
+8.43%
16.60%₫34,500.00₫20,000.00n/a8
Apr ’26₫20,000.00
₫26,000.00
+30.00%
17.07%₫34,500.00₫20,000.00n/a7
Mar ’26₫17,400.00
₫26,000.00
+49.43%
17.07%₫34,500.00₫20,000.00n/a7
Feb ’26n/a
₫26,214.29
0%
15.91%₫34,500.00₫21,500.00n/a7
Jan ’26₫17,150.00
₫27,562.50
+60.71%
16.83%₫34,500.00₫21,500.00n/a8
Dec ’25₫17,900.00
₫29,955.56
+67.35%
20.39%₫38,900.00₫21,500.00n/a9
Nov ’25₫17,750.00
₫30,662.50
+72.75%
20.23%₫38,900.00₫20,100.00n/a8
Oct ’25₫19,400.00
₫31,477.78
+62.26%
19.97%₫38,900.00₫20,100.00₫33,150.009
Sep ’25₫19,200.00
₫32,769.33
+70.67%
16.43%₫38,900.00₫20,100.00₫30,400.009
Aug ’25₫18,200.00
₫34,002.67
+86.83%
9.25%₫38,900.00₫29,500.00₫28,450.009
Jul ’25₫21,850.00
₫33,403.60
+52.88%
11.93%₫38,900.00₫25,612.00₫24,800.0010
Jun ’25₫21,750.00
₫33,813.60
+55.46%
11.14%₫38,900.00₫25,612.00₫27,500.0010
May ’25₫22,450.00
₫34,881.13
+55.37%
7.88%₫38,900.00₫31,625.00₫23,650.008
Apr ’25₫25,700.00
₫35,058.33
+36.41%
7.59%₫38,900.00₫31,625.00₫20,000.009
Mar ’25₫26,650.00
₫34,880.56
+30.88%
8.48%₫38,900.00₫31,300.00₫17,400.009
Feb ’25₫22,650.00
₫34,880.56
+54.00%
8.48%₫38,900.00₫31,300.00n/a9
Jan ’25₫23,300.00
₫35,391.67
+51.90%
7.94%₫38,900.00₫31,300.00₫17,150.009
Dec ’24₫22,800.00
₫34,492.50
+51.28%
11.00%₫38,900.00₫26,400.00₫17,900.0010
Nov ’24₫22,700.00
₫36,029.55
+58.72%
10.80%₫41,400.00₫26,400.00₫17,750.0011
Oct ’24₫26,100.00
₫36,029.55
+38.04%
10.80%₫41,400.00₫26,400.00₫19,400.0011
₫28.46k
Fair Value
33.5% overvalued intrinsic discount
7
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/10 06:54
End of Day Share Price 2025/10/10 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Vincom Retail Joint Stock Company is covered by 15 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullBIDV Securities Joint Stock Company
Viet LamBIDV Securities Joint Stock Company
Donald ChuaBofA Global Research