FIT

Công ty Cổ phần Tập đoàn F.I.T

VietnamConsumerY tếDược phẩmHOSECT

2.730

VND · Close 2 Nov 2026

Calibrated intrinsic value vs last close

Illustrative estimate

Comparison requires review

+1.4%Calibrated value vs last close

Last close (VND): 2.730
Calibrated intrinsic value (VND): 2.768

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

The model uses profit in place of cash flow, which was not available.

Also note

A release of working capital contributes to cash flow.

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 2 Dec 2026

Model reliability: High; 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 2 Nov 2026Recalculated when the displayed close changes.

Valuation Breakdown

CT→Y tế→Consumer

Classified as consumer because ICB sector “Y tế” 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

Risk-Free (Rf)

4.36%

Betasector default

0.924

ERP

4.38%

CRP

2.75%

Cost of Equity (Ke)

11.16%

E/(D+E)

78.38%

Kd(1-t)

2.84%

D/(D+E)

21.62%

WACC

10.00%

Growth Estimate

fundamental firm blend4.00%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→119.20B

Projection years→10

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)→2.730

Calibrated value vs last close→+1.4%

Last close × (1 + calibrated gap / 100)

Calibrated intrinsic value (VND)

2.768

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

Discount rate (WACC)10.00%

Growth rate4.00%growth method: fundamental firm blend

Base cash flow119.2 tỷone off strip ratio: 0

DCF Sensitivity

Illustrative calibrated values from the standalone DCF scenarios below, anchored to the same last close. These scenarios leave out the other parts of a blended model and do not reproduce the headline value.

WACC \ Growth	1.0%	2.5%	4.0%	5.5%	7.0%
8.0%	3.352	3.352	3.352	3.352	3.352
9.0%	3.188	3.188	3.188	3.188	3.188
10.0%	3.188	3.188	3.188	3.188	3.188
11.0%	3.060	3.060	3.060	3.131	3.188
12.0%	3.060	3.060	3.060	3.060	3.060

Above market priceBelow market priceCurrent estimate

FIT among Consumer

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

Each bead is one stock in the sector; the amber bead with its stem is FIT. 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)	·	4,032	5,352	5,632	4,691	3,695	3,330	2,766	2,568	2,422	2,299	3,322	702	93
Cash and cash equivalents (Bn. VND)Net debt bridge	·	253	101	43	129	297	60	24	41	44	47	739	208	25
Short-term investments (Bn. VND)Net debt bridge	·	725	887	1,502	602	2,347	2,506	2,022	1,716	1,642	1,227	1,700	303	26
Accounts receivable (Bn. VND)	·	2,474	3,862	3,599	3,516	636	464	419	398	364	700	470	118	40
Prepayments to suppliers (Bn. VND)	·	70	122	98	121	72	87	80	62	73	75	55	10	4
Net Inventories	·	461	409	427	386	370	273	266	373	333	299	384	63	0
Inventories, Net (Bn. VND)	·	471	420	438	396	375	282	271	387	351	305	392	63	0
Other current assets	·	119	92	61	59	45	26	36	40	39	25	30	10	1
Other current assets (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	0	1.0	0.01
LONG-TERM ASSETS (Bn. VND)	·	3,995	2,396	2,089	2,307	2,289	1,954	2,519	2,629	2,478	2,040	1,078	290	139
Long-term trade receivables (Bn. VND)	·	4	5	5	2	31	27	1	1	25	6	12	0	0
Other long-term receivables (Bn. VND)	·	4	5	5	2	1	1	1	1	6	6	1	0	0
Fixed assets (Bn. VND)	·	1,414	664	621	642	667	470	500	714	558	339	351	168	7
Tangible fixed assets	·	1,139	550	502	523	572	374	401	524	364	233	290	114	7
Leased assets	·	177	14	18	21	0	0	0	0	0	0	0	0	0
Intagible fixed assets	·	97	100	102	99	95	96	99	191	193	106	62	45	0
Investment in properties	·	106	107	108	109	110	111	150	80	83	14	14	15	30
Long-term investments (Bn. VND)	·	1,785	360	368	708	741	1,155	1,695	1,620	1,463	1,421	451	47	101
Investments in associate companies	·	1,715	290	299	640	649	1,071	1,136	811	774	788	403	28	25
Other long-term assets (Bn. VND)	·	70	70	68	68	92	26	26	26	27	3	3	19	77
Less: Provision for diminuation in value of long term investments	·	0	0	0	0	0	0	0	0	0	0	0	0	−1
Goodwill	·	0	0	0	0	0	0	0	160	188	169	192	29	0
Other non-current assets	·	407	466	549	623	692	106	131	25	17	20	42	30	1
Long-term prepayments (Bn. VND)	·	60	50	52	43	33	15	17	22	14	17	38	29	1
TOTAL ASSETS (Bn. VND)	·	8,027	7,748	7,722	6,998	5,984	5,284	5,285	5,197	4,899	4,339	4,401	992	232
LIABILITIES (Bn. VND)	·	1,989	1,807	1,935	1,133	1,284	1,237	1,238	1,229	902	576	1,343	203	39
Current liabilities (Bn. VND)	·	1,431	1,366	1,668	954	1,159	735	717	598	666	543	1,041	202	38
Short-term borrowings (Bn. VND)Discount rate (WACC) +1	·	1,149	990	1,389	707	735	415	420	333	354	292	617	105	2
Advances from customers (Bn. VND)	·	5	24	7	7	5	3	5	5	8	8	3	4	0.2
Long-term liabilities (Bn. VND)	·	558	441	267	179	125	502	521	630	236	33	302	0.9	1.0
Long-term borrowings (Bn. VND)Discount rate (WACC) +1	·	517	403	221	161	107	40	71	179	210	24	4	0	0
OWNER'S EQUITY(Bn.VND)Discount rate (WACC)	·	6,038	5,941	5,787	5,865	4,700	4,047	4,047	3,969	3,998	2,519	2,078	661	193
Capital and reserves (Bn. VND)	·	6,038	5,941	5,787	5,865	4,700	4,047	4,047	3,969	3,998	2,519	2,078	661	193
Paid-in capital (Bn. VND)	·	3,399	3,399	3,399	3,399	2,627	2,547	2,547	2,547	2,547	2,235	1,792	500	158
Other Reserves	·	80	80	80	80	80	80	80	80	80	80	0	0	0
Investment and development funds (Bn. VND)	·	1	1	0.6	0.6	0.6	0.9	0.9	0.9	0.9	0.9	0.9	3	0.2
Undistributed earnings (Bn. VND)	·	317	279	177	293	528	320	276	211	223	179	262	141	36
Minority Interest	·	0	0	0	0	0	0	0	0	0	1,243	979	129	0
TOTAL RESOURCES (Bn. VND)	·	8,027	7,748	7,722	6,998	5,984	5,284	5,285	5,197	4,899	4,339	4,401	992	232
Short-term loans receivables (Bn. VND)	·	251	81	49	34	0	0	0	0	0	0	59	0	0
Long-term loans receivables (Bn. VND)	·	0	0	0	0	30	26	0	0	0	0	0	0	0
Convertible bonds (Bn. VND)	·	0	0	0	0	0	448	441	434	0	0	293	0	0
Common shares (Bn. VND)	·	3,399	3,399	3,399	3,399	2,627	2,547	2,547	2,547	2,547	2,235	1,792	500	158
Good will (Bn. VND)	·	342	410	492	574	656	88	112	0	0	0	0	0	0
MINORITY INTERESTSNet debt bridge	·	2,165	2,106	2,055	2,016	1,388	1,006	1,050	1,036	1,076	0	0	0	0

Earnings Quality

Fiscal year 2025

Good

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

100

ReceivablesDSO trend vs revenue growth

100

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2025

Remainder

M −3.34 · 8th pctile vs VN companies

YoY ▼ −1.06

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

0.604

GMI

1.078

AQI

1.438

SGI

1.061

DEPI

1.758

SGAI

0.963

TATA

−0.179

LVGI

1.062

Checks measured on Vietnamese companies · FY2025

Cash conversion, 3 yearsOperating cash flow / net profit: 10.5997th pctile
Receivables outside the trade cyclePrepayments to suppliers, loans and other long-term receivables / total assets: 4.0%62nd pctile
Accumulated losses / paid-in capitalUndistributed earnings below zero: None
Consecutive years of net lossProfit after tax of the parent: 0
Owner's equityWithout the non-controlling interest: Positive

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.

Quantitative Scores

F-Score

5/9

Neutral

Z-Score

1.23

Distress Zone

Sharpe

−1.59

Negative

Composite

30 to 49

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 Burden0.55×Interest Burden0.88×Op. Margin0.06×Turnover0.26×Leverage1.33=ROE1.0%

Price Risk

Momentum

−35.5%

Volatility

25.2%

Max Drawdown

−49.7%

Key Ratios

Fiscal year 2025

24.91P/E

P/B: 0.26
P/S: 0.48
ROE: 1.0%
ROA: 0.5%
EPS: 118
BVPS: 11.393
Gross Margin: 18.7%
Net Margin: 2.8%
D/E: 0.28
Current Ratio: 2.82
Rev Growth: +6.3%
Profit Growth: −66.2%
EV/EBITDA: 21.07
Div Yield: —

Company Overview

Shares outstanding: 340M
Charter Capital: 3,399B VND
Sector (ICB L2): Y tế
Industry (ICB L3): Dược phẩm
Sub-industry: Dược phẩm
Company Type: CT

Ownership network

Shareholder structure

Shareholders

Công ty Cổ phần Đầu tư JJK Holdings

Inst

30.4%

103M

2025-12-31

Board & Management

Nguyễn Thị Minh Nguyệt

Vice Chairman of Management Board

Listed group

DCLCông ty Cổ phần Dược phẩm Cửu Long
Subsidiary: over 50% held
58.1%
2026-06-30
TSCCông ty Cổ phần Vật tư Kỹ thuật Nông nghiệp Cần Thơ
Associate: 20% or more held
41.1%
2026-06-30

Read from the shareholder lists: control above 50% of the shares (VAS 25), significant influence at 20% or more (VAS 07). Each date is that of the disclosure.

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

DCF Sensitivity

FIT among Consumer

Financial Statements

Earnings Quality

Financial Forensics

Checks measured on Vietnamese companies · FY2025

Quantitative Scores

Key Ratios

Company Overview

Ownership network

Listed group

Ownership network

Listed group

FIT among Consumer