company background image
VHM

Vinhomes HOSE:VHM Stock Report

Last Price

₫54.10k

Market Cap

₫235.6t

7D

-8.1%

1Y

-31.1%

Updated

27 Sep, 2022

Data

Company Financials +
VHM fundamental analysis
Snowflake Score
Valuation4/6
Future Growth4/6
Past Performance4/6
Financial Health6/6
Dividends3/6

VHM Stock Overview

Vinhomes Joint Stock Company invests in, develops, and trades in real estate properties in Vietnam.

Vinhomes Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Vinhomes
Historical stock prices
Current Share Price₫54,100.00
52 Week High₫87,500.00
52 Week Low₫54,100.00
Beta1.2
1 Month Change-10.28%
3 Month Change-14.53%
1 Year Change-31.08%
3 Year Change-21.16%
5 Year Changen/a
Change since IPO-20.44%

Recent News & Updates

Shareholder Returns

VHMVN Real EstateVN Market
7D-8.1%-5.1%-4.2%
1Y-31.1%-14.6%-14.8%

Return vs Industry: VHM underperformed the VN Real Estate industry which returned -12.7% over the past year.

Return vs Market: VHM underperformed the VN Market which returned -13.5% over the past year.

Price Volatility

Is VHM's price volatile compared to industry and market?
VHM volatility
VHM Average Weekly Movement2.9%
Real Estate Industry Average Movement6.1%
Market Average Movement5.6%
10% most volatile stocks in VN Market8.4%
10% least volatile stocks in VN Market3.1%

Stable Share Price: VHM is less volatile than 75% of VN stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: VHM's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20088,912Hang Nguyenhttps://www.vinhomes.vn

Vinhomes Joint Stock Company invests in, develops, and trades in real estate properties in Vietnam. The company also engages in office leasing activities, as well as provision of real estate management and related services. In addition, it offers general contractor, consulting and designing construction, and supervision and construction management services.

Vinhomes Fundamentals Summary

How do Vinhomes's earnings and revenue compare to its market cap?
VHM fundamental statistics
Market Cap₫235.57t
Earnings (TTM)₫28.08t
Revenue (TTM)₫57.38t

8.4x

P/E Ratio

4.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VHM income statement (TTM)
Revenue₫57.38t
Cost of Revenue₫23.66t
Gross Profit₫33.71t
Other Expenses₫5.63t
Earnings₫28.08t

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)6.45k
Gross Margin58.76%
Net Profit Margin48.94%
Debt/Equity Ratio24.6%

How did VHM perform over the long term?

See historical performance and comparison

Dividends

3.7%

Current Dividend Yield

31%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

VHM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.7x
Enterprise Value/EBITDA7.4x
PEG Ratio0.6x

Price to Earnings Ratio vs Peers

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

VHM PE Ratio vs Peers
The above table shows the PE ratio for VHM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average27.4x
NVL No Va Land Investment Group
51.6x20.4%₫164.8t
PDR Phat Dat Real Estate Development
17xn/a₫33.6t
KDH Khang Dien House Trading and Investment
16.6x17.7%₫21.1t
VPI Van Phu - Invest Investment
24.4xn/a₫14.4t
VHM Vinhomes
8.4x13.7%₫235.6t

Price-To-Earnings vs Peers: VHM is good value based on its Price-To-Earnings Ratio (8.4x) compared to the peer average (27.4x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: VHM is good value based on its Price-To-Earnings Ratio (8.4x) compared to the VN Real Estate industry average (16.7x)


Price to Earnings Ratio vs Fair Ratio

What is VHM'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.

VHM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.4x
Fair PE Ratio23.5x

Price-To-Earnings vs Fair Ratio: VHM is good value based on its Price-To-Earnings Ratio (8.4x) compared to the estimated Fair Price-To-Earnings Ratio (23.5x).


Share Price vs Fair Value

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

Below Fair Value: VHM (₫54100) is trading above our estimate of fair value (₫20985.03)

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


Analyst Price Targets

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

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

Future Growth

How is Vinhomes forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


13.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VHM's forecast earnings growth (13.7% per year) is above the savings rate (3.7%).

Earnings vs Market: VHM's earnings (13.7% per year) are forecast to grow slower than the VN market (18.5% per year).

High Growth Earnings: VHM's earnings are forecast to grow, but not significantly.

Revenue vs Market: VHM's revenue (29.5% per year) is forecast to grow faster than the VN market (17.4% per year).

High Growth Revenue: VHM's revenue (29.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VHM's Return on Equity is forecast to be high in 3 years time (21.1%)


Discover growth companies

Past Performance

How has Vinhomes performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


27.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VHM has high quality earnings.

Growing Profit Margin: VHM's current net profit margins (48.9%) are higher than last year (36.8%).


Past Earnings Growth Analysis

Earnings Trend: VHM's earnings have grown significantly by 27.1% per year over the past 5 years.

Accelerating Growth: VHM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: VHM had negative earnings growth (-15%) over the past year, making it difficult to compare to the Real Estate industry average (7.8%).


Return on Equity

High ROE: VHM's Return on Equity (21.9%) is considered high.


Discover strong past performing companies

Financial Health

How is Vinhomes's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: VHM's short term assets (₫181,594.5B) exceed its short term liabilities (₫173,121.1B).

Long Term Liabilities: VHM's short term assets (₫181,594.5B) exceed its long term liabilities (₫16,475.5B).


Debt to Equity History and Analysis

Debt Level: VHM has more cash than its total debt.

Reducing Debt: VHM's debt to equity ratio has reduced from 98% to 24.6% over the past 5 years.

Debt Coverage: VHM's debt is well covered by operating cash flow (155.5%).

Interest Coverage: VHM's interest payments on its debt are well covered by EBIT (142.6x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is Vinhomes's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.70%

Current Dividend Yield

Dividend Yield vs Market

Vinhomes Dividend Yield vs Market
How does Vinhomes dividend yield compare to the market?
SegmentDividend Yield
Company (Vinhomes)3.7%
Market Bottom 25% (VN)3.0%
Market Top 25% (VN)7.8%
Industry Average (Real Estate)3.1%
Analyst forecast in 3 Years (Vinhomes)2.8%

Notable Dividend: VHM's dividend (3.7%) is higher than the bottom 25% of dividend payers in the VN market (3.05%).

High Dividend: VHM's dividend (3.7%) is low compared to the top 25% of dividend payers in the VN market (7.77%).


Stability and Growth of Payments

Stable Dividend: VHM has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: VHM's dividend payments have increased, but the company has only paid a dividend for 3 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (30.9%), VHM's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (38%), VHM's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Hang Nguyen

0.33yr

Tenure

Ms. Hang Thu Nguyen serves as Chief Executive Officer of Vinhomes Joint Stock Company since May 10, 2022 and served as its Standing Deputy Chief Executive Officer since October 21, 2020 until May 10, 2022.


Leadership Team

Experienced Management: VHM's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: VHM's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of VHM?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders8,1360.0002%
Private Companies200,038,1764.6%
Institutions207,282,6884.8%
State or Government266,747,6156.1%
General Public777,808,39317.9%
Public Companies2,902,482,48066.7%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 81.56% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
66.66%
Vingroup Joint Stock Company
2,902,482,480₫157.0t0%no data
6.13%
Singapore
266,747,615₫14.4t0%no data
4.59%
Viking Asia Holdings Ii Pte. Ltd
200,038,176₫10.8t0%no data
0.53%
Matthews International Capital Management, LLC
22,883,270₫1.2t-2.15%0.35%
0.47%
Fubon Asset Management Co., Ltd.
20,602,975₫1.1t112.46%1.25%
0.38%
Norges Bank Investment Management
16,476,544₫891.4b0%0.01%
0.26%
Tianhong Asset Management Co., Ltd.
11,135,410₫602.4b0%0.34%
0.25%
J.P. Morgan Asset Management, Inc.
11,094,771₫600.2b0%no data
0.25%
Dragon Capital Group Limited
10,966,567₫593.3b89.78%3.26%
0.25%
Van Eck Associates Corporation
10,872,067₫588.2b-3.72%0.05%
0.19%
Viet Fund Management Company
8,378,750₫453.3b0%1.96%
0.18%
RBC Global Asset Management Inc.
7,703,156₫416.7b33.03%0.01%
0.17%
Polar Capital Holdings plc
7,541,979₫408.0b43.14%0.1%
0.17%
Korea Investment Management Co., Ltd
7,344,889₫397.4b0%3.26%
0.16%
Boston Partners Global Investors, Inc.
6,893,990₫373.0b0%0.01%
0.14%
Schroder Investment Management Limited
6,249,880₫338.1b0%0.01%
0.12%
Lion Global Investors Limited
5,279,302₫285.6b0%1%
0.11%
CBR Investment AG
4,779,642₫258.6b0%7.89%
0.1%
Amundi Asset Management
4,486,556₫242.7b0%no data
0.1%
Capital Asset Management Co. Ltd.
4,433,541₫239.9b0%4.84%
0.088%
SEI Investments Company
3,825,200₫206.9b29.44%0.02%
0.074%
BlackRock, Inc.
3,228,188₫174.6b-4.37%no data
0.07%
Federated Hermes, Inc.
3,048,523₫164.9b0%0.02%
0.065%
Jih Sun Securities Investment Trust Co., Ltd
2,837,699₫153.5b0%1.88%
0.05%
AllianceBernstein L.P.
2,161,000₫116.9b5.67%no data

Company Information

Vinhomes Joint Stock Company's employee growth, exchange listings and data sources


Key Information

  • Name: Vinhomes Joint Stock Company
  • Ticker: VHM
  • Exchange: HOSE
  • Founded: 2008
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: ₫235.571t
  • Shares outstanding: 4.35b
  • Website: https://www.vinhomes.vn

Number of Employees


Location

  • Vinhomes Joint Stock Company
  • Symphony Building
  • Chu Huy Man Street
  • Hanoi
  • Vietnam


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VHMHOSE (Ho Chi Minh Stock Exchange)YesOrdinary SharesVNVNDMay 2018

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/27 00:00
End of Day Share Price2022/09/27 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.