Public Market Multiples
Comparable Analysis
Peer-based valuation using listed-company multiples to cross-check where the market prices similar earnings streams.
HPG · Hoa Phat Group
Industrial cyclicality model pack with intrinsic value and public-market multiple cross-checks.
Comparable Analysis
VND 25.5k-25.9k/share
Selected steel peer P/E medians of 14.0x LTM, 11.4x 2026E, and 10.5x 2027E after trimming outlier peer multiples.
Comparable analysis lands above the DCF because the public market is giving more credit to normalized earnings than the intrinsic cash-flow case.
BID · BIDV
Bank valuation workflow centered on peer multiples, benchmarking pages, and target-company inputs.
Comparable Analysis
VND 39.7k-44.3k/share
Vietnam bank selected P/E medians of 6.1x LTM, 9.4x 2026E, and 9.1x 2027E, benchmarked against listed banks.
The model creates a valuation band around spot: downside comes from the forward earnings base, while upside comes from normalized/LTM multiple support.
FPT · FPT Corporation
Growth-company model pack combining forecast-driven DCF and public peer valuation checks.
Comparable Analysis
VND 76.2k-77.1k/share
Selected tech and telecom peer P/E medians of 14.0x LTM, 12.9x 2026E, and 11.7x 2027E after trimming high-growth outliers.
Comparable analysis remains near the current public-market trading zone and acts as the conservative check below DCF.
PNJ · Phu Nhuan Jewelry
Retail valuation set with sponsor-return analysis and a combined public/transaction multiple pack.
Comparable / Precedent
Comparable VND 72.8k-74.3k; precedent approx. VND 69.8k
Selected retail peer P/E medians of 13.2x LTM, 9.8x 2026E, and 10.2x 2027E after trimming high-growth outliers; precedent premium of 9.0%.
Comparable analysis is the highest case because public retail investors can pay for brand quality and growth; precedent sits between the public-growth case and LBO floor.