DCS

Công ty Cổ phần Tập đoàn EDX

VietnamConsumerHàng cá nhân & Gia dụngHàng gia dụngUPCOMCT

600

VND · Close 30 Oct 2026

Calibrated intrinsic value vs last close

Illustrative estimate

Comparison requires review

−21.1%Calibrated value vs last close

Last close (VND): 600
Calibrated intrinsic value (VND): 473

Last close × (1 + calibrated gap / 100)

Earnings-capitalised value

Not available: the company reported a loss last year or its shares have too short a price history.

How it is calculated

1
Measure the gap
Between the model and the last close.
2
Check the record2015–2024
What gaps of that size went on to earn over the following year.
3
Apply to the close
That return is applied to the last close.

Keep in mind

For illustration only: not a validated forecast.
No uncertainty range: the estimate is a single figure.
Older record: it has not been re-measured on the current data.

Why it needs review

Under financial distress the model falls back to book value.

Also note

Trading liquidity is low.

This estimate remains visible for checking its calculation. Its inputs require review before using it in a stock comparison. The model comparison behind this value needs review. The estimate does not remove the data limitations listed above.

Comparison assessed 3 Nov 2026Valid through 29 Nov 2026

Model reliability: Very Low; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: Not assessed; A separate peer-outperformance probability is unavailable for this valuation.

Assessed 30 Oct 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

Published filingsValued 30 Oct 2026Anchored to close on 30 Oct 2026Recalculated when the displayed close changes.

Valuation Breakdown

CT→Hàng cá nhân & Gia dụng→Consumer

Classified as consumer because ICB sector “Hàng cá nhân & Gia dụng” maps to the consumer group.

ModelFCF-Based DCF

Intrinsic = 70% x DCF Value + 30% x (Fair P/E x EPS)

A Discounted Cash Flow model built on Free Cash Flow (FCF), the cash a business generates after operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted to today's value using WACC. The DCF value is blended 70/30 with a value from the company's own historical P/E.

Technical details

Why this model

Consumer staples/retail generate steady, predictable free cash flows, making them ideal for DCF. The time value of money principle means a dollar today is worth more than a dollar tomorrow. DCF captures this by discounting future cash flows at a rate reflecting the investment's risk (WACC).

How it works

Takes 3-year median FCF as the base. Estimates growth via ROIC x reinvestment rate (Damodaran framework), falling back to historical revenue growth. Projects 10 years with decay toward the sector's long-run growth rate. Discounts at CAPM-derived WACC. Blends 70% of the DCF value with 30% of a P/E value: the company's 5-year median P/E, held between 5x and 25x, times EPS.

Best for

Stable consumer businesses (food, beverage, retail, healthcare) with predictable, positive free cash flows.

Weighted Avg Cost of Capital

Model Inputs

Base FCF→—

Valuation

We take the model’s gap to the last close, read what gaps of that size went on to earn over the following year in our 2015 to 2024 record, and apply that to the last close.

Last close (VND)→600

Calibrated value vs last close→−21.1%

Last close × (1 + calibrated gap / 100)

Calibrated intrinsic value (VND)

473

What feeds each step— click a source to highlight it in the statements

Discount rate (WACC)11.02%

Growth rate

Base cash flow

DCS among Consumer

Every stock in the sector, DCS marked: calibrated gap vs close across, market value up, model reliability into the board

Each bead is one valued stock in the sector; the amber bead with its stem is DCS. Drag to turn; open another stock from its bead.

Feeds valuation:Cost of capitalGrowthModel inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
CURRENT ASSETS (Bn. VND)	·	26	616	616	616	616	602	606	618	598	589	561	557	289
Cash and cash equivalents (Bn. VND)Net debt bridge	·	13	13	13	13	9	3	3	2	29	54	3	13	9
Short-term investments (Bn. VND)Net debt bridge	·	0	0	0	0	0	0	0	0	0	0	0	38	38
Accounts receivable (Bn. VND)	·	9	496	496	496	516	531	536	549	498	442	479	93	50
Prepayments to suppliers (Bn. VND)	·	0.08	22	22	22	17	17	18	16	17	60	20	54	19
Net Inventories	·	0	103	103	103	89	67	67	67	72	92	78	60	43
Inventories, Net (Bn. VND)	·	0	114	114	114	100	74	73	74	73	92	78	60	43
Other current assets	·	4	4	4	4	2	0.8	0.9	0.2	0.00	0.06	0.1	354	147
Other current assets (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	0	353	147
LONG-TERM ASSETS (Bn. VND)	·	0	62	62	62	62	62	63	65	71	123	126	136	160
Long-term trade receivables (Bn. VND)	·	0	0.5	0.5	0.5	0.5	0	0	0	5	0.04	0.04	0	0
Other long-term receivables (Bn. VND)	·	0	0.5	0.5	0.5	0.5	0	0	0	5	0.04	0.04	0	0
Fixed assets (Bn. VND)	·	0	0.2	0.3	0.4	0.6	0.9	1	3	5	14	16	28	52
Tangible fixed assets	·	0	0.2	0.3	0.4	0.6	0.9	1	3	5	14	16	23	52
Investment in properties	·	0	28	28	28	28	28	28	28	28	28	28	28	28
Long-term investments (Bn. VND)	·	0	33	33	33	33	34	34	34	34	82	80	80	80
Investments in associate companies	·	0	33	33	33	33	33	33	33	33	83	79	80	80
Other long-term assets (Bn. VND)	·	0	0	0	0	0	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5
Less: Provision for diminuation in value of long term investments	·	0	0	0	0	0	0	0	0	0	−2	0	0	0
Other non-current assets	·	0	0	0	0	0	0	0.01	0.01	0.00	0.02	0.1	0	0
Long-term prepayments (Bn. VND)	·	0	0	0	0	0	0	0.01	0.01	0.00	0.02	0.1	0	0
TOTAL ASSETS (Bn. VND)	·	26	678	678	678	678	665	669	683	669	712	687	694	449
LIABILITIES (Bn. VND)	·	28	46	46	46	46	33	37	51	37	77	62	77	63
Current liabilities (Bn. VND)	·	28	46	46	46	46	33	37	51	37	76	61	71	54
Short-term borrowings (Bn. VND)Discount rate (WACC) +1	·	13	9	9	9	22	15	17	13	10	36	31	35	40
Advances from customers (Bn. VND)	·	0	2	2	2	5	1	2	0.3	4	0.9	6	14	2
Long-term liabilities (Bn. VND)	·	0	0	0	0	0	0	0	0.2	0	2	1	6	9
Long-term borrowings (Bn. VND)Discount rate (WACC) +1	·	0	0	0	0	0	0	0	0.2	0	1	1	1	9
OWNER'S EQUITY(Bn.VND)Discount rate (WACC)	·	−2	632	632	632	632	632	632	632	632	635	625	616	384
Capital and reserves (Bn. VND)	·	−2	632	632	632	632	632	632	632	632	635	625	616	384
Paid-in capital (Bn. VND)	·	603	603	603	603	603	603	603	603	603	603	603	603	363
Investment and development funds (Bn. VND)	·	4	4	4	4	4	4	4	4	4	4	3	3	3
Other Reserves	·	0	0	0	0	0	0	0	0	0	0	0.8	0	0
Undistributed earnings (Bn. VND)	·	−618	16	16	17	17	16	16	16	17	19	8	0.00	−3
Minority Interest	·	0	0	0	0	0	0	0	0	0	0	0	1	1
TOTAL RESOURCES (Bn. VND)	·	26	678	678	678	678	665	669	683	669	712	687	694	449
Short-term loans receivables (Bn. VND)	·	0	392	392	392	429	447	445	436	277	68	47	0	0
Common shares (Bn. VND)	·	603	603	603	603	603	603	603	603	603	603	603	603	363
MINORITY INTERESTSNet debt bridge	·	0	0	0	0	0	0	0	0	0	0	1	0	0

Earnings Quality

Fiscal year 2025

Weak

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

Margin StabilityConsistency of profit margins

Financial Forensics

Beneish M-Score · 2022

Remainder

M −1.92 · 63rd pctile vs VN companies

YoY ▲ +0.60

Conservative vs VN peersUnusual accounting movement

Compare across the whole market

Ranked vs Vietnamese peers. The −1.78 Beneish cutoff is US-calibrated; ~28% of VN stocks exceed it.

DSRI

1.801

GMI

1.108

AQI

1.000

SGI

0.534

DEPI

0.997

SGAI

0.709

TATA

0.028

LVGI

1.003

Checks measured on Vietnamese companies · FY2025

Receivables outside the trade cyclePrepayments to suppliers, loans and other long-term receivables / total assets: 0.3%18th pctile
Accumulated losses / paid-in capitalUndistributed earnings below zero: 1.02×Statutory test met
Consecutive years of net lossProfit after tax of the parent: 4Statutory test met
Owner's equityWithout the non-controlling interest: NegativeStatutory test met

Percentiles rank each fiscal year against Vietnamese non-financial companies (0 lowest, 100 highest). Over FY2015-2024, low cash conversion and a large share of receivables outside the trade cycle came before more listing trouble and more net losses the next year.

Statutory loss tests (Decree 155/2020/NĐ-CP, Art. 120(1)(e), amended by Decree 245/2025/NĐ-CP): a HOSE or HNX listing is cancelled when the audited annual statements show net losses in each of the latest 3 years, accumulated losses above the paid-in charter capital, or negative owner's equity. Read here from the annual statements as the data vendor publishes them. The company trades on UPCoM, where these tests do not apply.

Quantitative Scores

F-Score

5/9

Neutral

Z-Score

−31.23

Distress Zone

Sharpe

0.12

Positive

Composite

Below 30

Piotroski F-Score Breakdown

✗Net Income > 0

✓Operating CF > 0

✗ROA Rising

✓OCF > Net Income

✗Lower Leverage

✗Better Liquidity

✓No Dilution

✓Margin Up

✓Turnover Up

DuPont Decomposition

Tax Burden1.00×Interest Burden−173.78×Op. Margin0.22×Turnover0.66×Leverage−10.44=ROE25883.3%

Price Risk

Momentum

+33.3%

Volatility

120.7%

Max Drawdown

−57.1%

Key Ratios

Fiscal year 2025

—P/E

P/B: —
P/S: 2.14
ROE: −202.5%
ROA: −181.2%
EPS: −10.568
BVPS: −41
Gross Margin: 34.2%
Net Margin: −3768.2%
D/E: —
Current Ratio: 0.91
Profit Growth: −632820.9%
EV/EBITDA: 7.78
Div Yield: —

Company Overview

Shares outstanding: 60.3M
Charter Capital: 603B VND
Sector (ICB L2): Hàng cá nhân & Gia dụng
Industry (ICB L3): Hàng gia dụng
Sub-industry: Thiết bị gia dụng
Company Type: CT

Ownership network

Common ownership links for DCS. Hover for detail, select a link to open it.

Shareholders

Nguyễn Đình Hùng

Indiv

4.4%

2.7M

2026-06-30

Nguyễn Kim Tuấn

Indiv

4.1%

2.5M

2016-03-15

Đỗ Văn Khuê

Indiv

3.7%

2.2M

2026-06-30

Trần Thị Ánh Nguyệt

Indiv

3.3%

2.0M

2018-12-31

Trần Đình Sơn

Indiv

3.0%

1.8M

2014-01-15

Đường Đức Hóa

Indiv

1.7%

1.0M

2021-12-31

Hà Thanh Hải

Indiv

1.7%

1.0M

2011-01-27

Công ty Cổ phần DC Phú Hà

Inst

0.8%

500,000

2013-07-15

Công ty Cổ phần Quản Lý Quỹ Sài Gòn

Inst

0.2%

102,000

2015-06-15

Công ty Cổ phần Quản Lý Quỹ Bông Sen

Inst

0.2%

100,000

2015-06-15

NGUYỄN ĐỨC NĂNG

Indiv

0.2%

96,411

2021-12-31

Board & Management

Nguyễn Đình Hùng4.4%

Chairman of Management Board

Đỗ Văn Khuê3.7%

Vice Chairman of Management Board/Internal auditor

NGUYỄN ĐỨC NĂNG0.2%

Deputy General Director

Top connections

VCK39.9%

Director-deal registrations · 12 months

Sale registrations: None
Purchase registrations: 5 by 2 traders; 14,600,000 shares
Registered net, share of outstanding:: +24.21%

Nguyễn Đình Hùng
Purchase · Insider
4,000,000
2026-03-03
Nguyễn Đình Hùng
Purchase · Insider
2,200,000
2026-02-02
Nguyễn Đình Hùng
Purchase · Insider
2,200,000
2025-12-29
Đặng Thị Tỉnh
Purchase · Related person
2,200,000
2025-12-29
Nguyễn Đình Hùng
Purchase · Insider
4,000,000
2025-12-01

Insiders, large holders and related persons register a trade before they make it. A registration is not an executed trade, and a holder that did not trade often registers again.

Computed 30/10/2026

Calibrated intrinsic value vs last close

Earnings-capitalised value

How it is calculated

Keep in mind

Why it needs review

Also note

Valuation Breakdown

DCS among Consumer

Financial Statements

Earnings Quality

Financial Forensics

Checks measured on Vietnamese companies · FY2025

Quantitative Scores

Key Ratios

Company Overview

Ownership network

Director-deal registrations · 12 months

Ownership network

Director-deal registrations · 12 months

DCS among Consumer