Intrinsic Value
DCF
Forecast-driven valuation using free cash flow, discount rate, terminal value, and sensitivity checks.
HPG · Hoa Phat Group
Industrial cyclicality model pack with intrinsic value and public-market multiple cross-checks.
DCF
VND 22.3k/share
FCFF DCF, not FCFE or DDM; WACC 10.5%, exit EV/EBITDA 9.0x, sales growth tapering from 14.0% to 4.0%, COGS/sales normalizing to 80.0%, and capex/sales falling to 4.0%.
DCF sits below spot and below comparable value because it penalizes steel-cycle cash-flow volatility and terminal multiple risk.
FPT · FPT Corporation
Growth-company model pack combining forecast-driven DCF and public peer valuation checks.
DCF
VND 83.2k/share
FCFF DCF, not DDM; WACC 10.5%, exit EV/EBITDA 8.5x, and revenue growth tapering from 12.0% to 8.0%.
DCF sits above spot and above comparable analysis because it gives credit to FPT’s growth duration and cash-flow resilience.