KDH

Công ty Cổ phần Đầu tư và Kinh doanh nhà Khang Điền

VietnamReal EstateBất động sảnHOSECT

13.300

VND · Close 2 Nov 2026

Calibrated intrinsic value vs last close

Illustrative estimate

Comparison requires review

+16.6%Calibrated value vs last close

Last close (VND): 13.300
Calibrated intrinsic value (VND): 15.513

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.

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: 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 2 Nov 2026Recalculated when the displayed close changes.

Valuation Breakdown

CT→Bất động sản→Real Estate

Classified as real estate because ICB sector “Bất động sản” maps to the real estate group.

ModelRNAV + DCF Blend

Intrinsic = 40% x RNAV proxy + 60% x DCF Value

Developers often carry land banks at historical cost under VAS, so book value can understate asset value. This model blends two approaches: an RNAV proxy (book value with its property share marked up 1.5×) weighted 40%, and a DCF on normalized cash flows weighted 60%. Highly leveraged firms receive a +2% WACC penalty.

Technical details

Why this model

RE developers carry large land inventories at historical cost; cash flows depend on project delivery timing. RNAV captures hidden land value, while DCF captures earnings power. The leverage screen guards against over-leveraged developers.

How it works

RNAV proxy: the property share of BVPS (investment property, fixed assets and inventories over total assets) × 1.5 plus the rest at book, or 1.25× all of book when that share is 10% or less or unknown, cut by up to 50% as D/E rises above 2. DCF: 5-year projection on median cash flow with CAPM-derived WACC. If D/E > 3 or interest coverage < 1.5, WACC is increased by 2%. Final value = 40% RNAV + 60% DCF.

Best for

Property developers and real estate firms with significant land banks recorded at below-market historical cost.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.36%

Betasector default

0.991

ERP

4.38%

CRP

2.75%

Cost of Equity (Ke)

11.45%

E/(D+E)

70.98%

Kd(1-t)

4.86%

D/(D+E)

29.02%

WACC

10.00%

Growth Estimate

fundamental firm blend4.17%

Growth decays 10%/yr toward terminal

Model Inputs

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)→13.300

Calibrated value vs last close→+16.6%

Last close × (1 + calibrated gap / 100)

Calibrated intrinsic value (VND)

15.513

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

Discount rate (WACC)10.00%high risk: no

Growth rate4.17%growth method: fundamental firm blend

Base cash flow803.6 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	1.2%	2.7%	4.2%	5.7%	7.2%
8.0%	13.224	13.224	13.224	13.224	14.831
9.0%	11.778	11.778	11.778	11.778	13.224
10.0%	N/A	N/A	N/A	N/A	11.778
11.0%	N/A	N/A	N/A	N/A	N/A
12.0%	N/A	N/A	N/A	N/A	N/A

Above market priceBelow market priceCurrent estimate

KDH among Real Estate

Every stock in the sector, KDH 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 KDH. 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)	·	31,619	28,844	24,737	20,506	13,421	13,115	12,327	9,570	9,110	7,241	7,635	2,826	1,547
Cash and cash equivalents (Bn. VND)Net debt bridge	·	2,544	3,096	3,730	2,753	1,365	1,836	1,175	1,836	2,592	1,059	983	435	89
Short-term investments (Bn. VND)Net debt bridge	·	211	277	9	43	69	0	32	0	0	0.5	44	0	0
Accounts receivable (Bn. VND)	·	5,482	3,018	1,831	5,208	4,206	3,622	3,778	1,760	1,548	1,485	654	279	381
Prepayments to suppliers (Bn. VND)	·	3,279	1,642	636	2,584	2,120	1,757	1,700	701	763	469	437	3	208
Net Inventories	·	23,260	22,178	18,787	12,453	7,733	7,338	7,037	5,817	4,858	4,618	5,865	2,075	1,068
Inventories, Net (Bn. VND)	·	23,260	22,178	18,787	12,453	7,733	7,338	7,037	5,817	4,858	4,618	5,865	2,075	1,068
Other current assets	·	122	275	381	49	48	319	305	157	114	78	90	37	9
Other current assets (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	0	0.3	0.08
LONG-TERM ASSETS (Bn. VND)	·	2,455	1,914	1,744	1,033	952	913	910	658	606	696	907	294	194
Long-term trade receivables (Bn. VND)	·	62	69	76	73	79	80	96	123	124	85	103	0	0
Other long-term receivables (Bn. VND)	·	12	14	13	13	14	13	18	13	16	15	15	0	0
Fixed assets (Bn. VND)	·	67	73	81	81	40	47	48	34	30	28	32	4	4
Tangible fixed assets	·	67	73	81	81	40	47	48	34	30	27	32	4	4
Intagible fixed assets	·	0.00	0	0	0	0	0	0	0	0.02	0.06	0.1	0	0
Investment in properties	·	230	233	131	102	58	60	100	5	5	82	85	0	0
Long-term investments (Bn. VND)	·	0	0	12	14	14	14	14	14	98	209	227	271	175
Investments in associate companies	·	0	0	0	0	0	0	0	0	84	193	211	0	161
Other long-term assets (Bn. VND)	·	0	0	0	14	14	14	14	14	14	17	17	271	14
Less: Provision for diminuation in value of long term investments	·	0	0	0	0	0	0	0	0	0	−2	−1	0	0
Goodwill	·	0	0	0	0	0	0	0	0	0	0	0	11	13
Other non-current assets	·	361	511	511	13	9	17	23	15	36	20	21	8	3
Long-term prepayments (Bn. VND)	·	4	4	5	9	3	5	11	6	3	4	4	2	0.3
TOTAL ASSETS (Bn. VND)	·	34,074	30,758	26,481	21,539	14,373	14,028	13,237	10,228	9,717	7,937	8,543	3,121	1,741
LIABILITIES (Bn. VND)	·	12,910	11,304	10,958	9,745	4,151	5,870	5,573	3,328	3,526	3,539	4,370	1,584	775
Current liabilities (Bn. VND)	·	3,515	4,182	5,346	3,503	2,254	4,334	4,572	2,775	1,817	1,272	1,037	482	212
Short-term borrowings (Bn. VND)Discount rate (WACC) +1	·	1,802	1,100	1,444	1,195	815	787	377	632	186	194	219	224	17
Advances from customers (Bn. VND)	·	648	1,901	2,388	892	179	2,297	2,773	1,367	1,087	670	501	78	97
Long-term liabilities (Bn. VND)	·	9,394	7,122	5,612	6,242	1,898	1,536	1,001	553	1,708	2,267	3,333	1,102	563
Long-term borrowings (Bn. VND)Discount rate (WACC) +1	·	8,348	5,998	4,901	5,576	1,738	1,058	405	337	1,471	1,700	2,699	1,065	547
OWNER'S EQUITY(Bn.VND)Discount rate (WACC)	·	21,164	19,453	15,523	11,795	10,221	8,158	7,664	6,899	6,191	4,398	4,173	1,498	966
Capital and reserves (Bn. VND)	·	21,164	19,453	15,523	11,795	10,221	8,158	7,664	6,899	6,191	4,398	4,173	1,498	966
Paid-in capital (Bn. VND)	·	11,222	10,111	7,993	7,168	6,429	5,787	5,444	4,140	3,360	2,340	1,800	750	481
Investment and development funds (Bn. VND)	·	352	352	352	297	237	179	134	93	68	48	35	23	23
Undistributed earnings (Bn. VND)	·	3,595	3,618	3,766	2,780	2,342	1,836	1,327	907	698	469	262	109	7
Minority Interest	·	0	0	0	0	0	0	0	0	0	0	0	38	0.3
TOTAL RESOURCES (Bn. VND)	·	34,074	30,758	26,481	21,539	14,373	14,028	13,237	10,228	9,717	7,937	8,543	3,121	1,741
Common shares (Bn. VND)	·	11,222	10,111	7,993	7,168	6,429	5,787	5,444	4,140	3,360	2,340	1,800	750	481
Good will (Bn. VND)	·	0	0	0	0.01	0	2	3	4	9	11	13	0	0
MINORITY INTERESTSNet debt bridge	·	2,641	2,059	2,072	237	36	31	39	35	977	921	916	0	0

Earnings Quality

Fiscal year 2025

Poor

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

ReceivablesDSO trend vs revenue growth

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2025

75th–90th

M −1.35 · 82nd pctile vs VN companies

YoY ▼ −0.33

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

1.280

GMI

0.896

AQI

1.171

SGI

1.419

DEPI

0.940

SGAI

0.969

TATA

0.107

LVGI

1.052

Checks measured on Vietnamese companies · FY2025

Cash conversion, 3 yearsOperating cash flow / net profit: −2.289th pctile
Receivables outside the trade cyclePrepayments to suppliers, loans and other long-term receivables / total assets: 9.7%80th 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.

KDH's Beneish M-Score is -1.3516 (82nd percentile versus Vietnamese peers), with a year-over-year change of -0.33, indicating the company's accounting is more aggressive than most Vietnamese peers though still above the US -1.78 cutoff. Earnings-quality metrics show concentrated weaknesses: an overall Earnings Quality Score of 26.2/100 with Cash Conversion 0.0/100 and Revenue Quality 0.0/100, while solvency and operating fundamentals are mixed (Altman Z-Score 3.46 in the ‘safe’ zone; Piotroski F-Score 5/9).

Red Flags

Beneish M-Score -1.3516 (82nd Vietnam percentile): measures the likelihood of earnings manipulation patterns; the 82nd percentile means KDH scores more aggressively on Beneish components than ~82% of Vietnamese peers. The YoY change -0.33 shows the M-Score moved toward more aggressive signals this year.
DSRI 1.2803: the Days Sales in Receivables Index above 1.0 measures receivables growing faster than sales and is consistent with revenue recognition or collection timing concerns.
AQI 1.1711 and LVGI 1.0519: Asset quality and leverage/volume growth indices above 1.0 indicate non-current assets and asset reclassifications (AQI) and higher leverage/volume dynamics (LVGI) relative to prior year, which can reflect capitalisation or off-cycle asset recognition.
SGI 1.4186: Sales Growth Index of 1.4186 signals rapid sales growth (measures year-over-year sales growth); rapid growth can be a legitimate business feature but is also an input into manipulative pressure in Beneish.
TATA 0.1071: Total Accruals to Total Assets is positive and small but combined with poor cash conversion (see below) implies earnings are not being converted into cash.
Earnings Quality Score 26.2/100 with Cash Conversion 0.0/100 and Revenue Quality 0.0/100: these measure (respectively) overall earnings quality composite, operating cash-flow conversion of profit, and the sustainability/quality of reported revenue; both cash conversion and revenue quality at 0 indicate acute weaknesses in cash support for reported earnings and in revenue quality metrics.
Receivables outside the trade cycle 9.7% of total assets (80th Vietnam percentile): measures prepayments, loans receivable and other long-term receivables; being at 9.7% and in the 80th percentile is a material exposure to non-trade claims on assets.
Three‑year cash conversion (operating cash flow / net profit) -2.28 (9th Vietnam percentile): this low/negative ratio means reported profits have not turned into operating cash over three years and ranks poorly versus peers.
Director-deal registrations: 13 sale registrations (11 traders; 28,670,925 shares; 8 registrations without a volume) and 36 purchase registrations (21 traders; 87,728,200 shares; 1 registration without a volume) between 2025-10-30 and 2026-10-30 — these are registered intentions with the exchange, not executed trades, and show many insiders/related parties registering both buys and sells.

Positive Signals

Altman Z-Score 3.46 (safe zone): this distance-to-bankruptcy measure suggests a low short-term insolvency risk on published financials. Z-Score combines working capital, retained earnings, EBIT, market value of equity and sales to total assets.
Piotroski F-Score 5/9 (neutral): this score measures nine fundamental signals (profitability, leverage/liquidity, operating efficiency); a 5 is middling and does not show clear financial deterioration.
Accumulated losses: none — undistributed earnings are not negative and the company does not meet the statutory loss triggers listed under Decree 155/2020 Art.120(1)(e) as amended by Decree 245/2025; statutory loss tests are not met in the audited statements.
Margin quality 72.5/100 and Accruals quality 58.1/100: these sub-scores indicate gross margin and accrual components are relatively stronger than revenue/cash conversion, suggesting some earnings components are supported by operating margins and moderate accrual behavior.

Ownership Risk

Top shareholders are concentrated among institutional players: Vinacapital Vietnam Opportunity Fund Ltd. 13.9%; Công ty CP Đầu Tư Tiên Lộc 11.2%; Công ty TNHH Đầu tư Tiến Lộc 11.1%; Gam Ma 8.8%; Công ty CP Đầu Tư Thương Mại Á Âu 8.7%. This pattern shows substantial institutional and related-party group ownership concentration rather than a dispersed retail base; director-deal registrations show multiple insiders/related persons registering both buys and sells in the 12-month window.

To check in the filings

Compare the year‑end 2025 schedule of receivables and the related‑party disclosure: quantify prepayments, loans receivable and long‑term receivables that make up the 9.7% of total assets.
Reconcile consolidated operating cash flow to parent profit for FY2023–FY2025: verify the components that produce the three‑year cash conversion ratio of -2.28 (operating cash flow / net profit).
Inspect the revenue recognition note and sales-by-segment or by-customer schedule to assess the drivers of DSRI 1.2803 and SGI 1.4186 (days‑sales/receivables and sales growth), including any large year‑end sales, returns, or related-party contracts.
Review the directors’ and major shareholders’ registration disclosures filed with HOSE/HNX between 2025-10-30 and 2026-10-30 to confirm the details of the 13 sale and 36 purchase registrations (volumes, beneficiaries, purpose statements).

Generated by AI based on quantitative data. Not financial advice.

Quantitative Scores

F-Score

5/9

Neutral

Z-Score

3.46

Safe Zone

Sharpe

−2.41

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 Burden0.80×Interest Burden1.01×Op. Margin0.43×Turnover0.14×Leverage1.61=ROE7.7%

Price Risk

Momentum

−54.2%

Volatility

30.9%

Max Drawdown

−59.3%

Key Ratios

Fiscal year 2025

16.56P/E

P/B: 0.93
P/S: 3.72
ROE: 5.8%
ROA: 3.2%
EPS: 932
BVPS: 16.506
Gross Margin: 59.2%
Net Margin: 35.0%
D/E: 0.48
Current Ratio: 8.99
Rev Growth: +42.2%
Profit Growth: +29.9%
EV/EBITDA: 12.58
Div Yield: —

Company Overview

Shares outstanding: 1,245M
Charter Capital: 12,453B VND
Sector (ICB L2): Bất động sản
Industry (ICB L3): Bất động sản
Sub-industry: Bất động sản
Company Type: CT

Ownership network

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

Shareholders

Vinacapital Vietnam Opportunity Fund Ltd.

Inst

13.9%

73.0M

2020-05-31

Công ty CP Đầu Tư Tiên Lộc

Inst

11.2%

126M

2026-06-30

Công ty TNHH Đầu tư Tiến Lộc

Inst

11.1%

71.6M

2022-06-30

Công ty Cổ phần Dịch Vụ Tư Vấn Đầu Tư Gam Ma

Inst

8.8%

70.0M

2023-12-31

Công ty CP Đầu Tư Thương Mại Á Âu

Inst

8.7%

69.7M

2023-12-31

Vietnam Enterprise Limited

Inst

6.0%

67.7M

2025-12-31

CTBC Vietnam Equity Fund

Inst

3.6%

28.4M

2024-01-11

Mai Trần Thanh Trang

Indiv

3.2%

35.9M

2026-10-09

Lý Tuấn Kiệt

Indiv

1.9%

21.3M

2026-10-07

Đoàn Thị Nguyên

Indiv

1.6%

17.8M

2026-06-30

Vietnam Holding Ltd

Inst

1.4%

7.4M

2020-06-30

amersham industries limited

Inst

1.3%

14.9M

2026-06-16

Veil Holdings Limited

Inst

1.3%

14.2M

2026-06-16

Norges Bank

Inst

1.2%

13.5M

2026-06-16

Vietnam Enterprise Investments Limited

Inst

1.2%

13.4M

2026-06-16

Lê Hoàng Khởi

Indiv

0.5%

6.1M

2026-10-09

Hanoi Investments Holdings Limited

Inst

0.5%

5.4M

2026-06-16

Vương Văn Minh

Indiv

0.4%

2.3M

2021-12-31

Nguyễn Thùy Trang

Indiv

0.4%

3.0M

2023-12-31

Vietnam Investment Limited

Inst

0.4%

4.0M

2025-12-31

DC Developing Markets Strategies Public Limited Company

Inst

0.3%

3.3M

2026-06-16

Nguyễn Thị Cẩm Vân

Indiv

0.3%

2.9M

2026-06-30

Nguyễn Thuỳ Dương

Indiv

0.2%

2.6M

2026-10-13

Lý Điền Sơn

Indiv

0.2%

2.4M

2026-10-05

Vietnam Investment Property Limited

Inst

0.2%

2.0M

2026-06-30

VOF Investment Limited

Inst

0.1%

1.7M

2026-06-30

Quỹ Đầu tư Cổ phiếu Kinh tế hiện đại VinaCapital

Inst

0.1%

1.4M

2026-06-30

Wareham Group Limited

Inst

0.1%

1.3M

2026-06-16

Đặng Thị Thuỳ Trang

Indiv

0.1%

1.2M

2026-10-13

Quỹ Đầu tư Cổ phiếu Doanh nghiệp hàng đầu Vinacapital

Inst

0.1%

1.2M

2025-12-31

Board & Management

Mai Trần Thanh Trang3.2%

Chairman of Management Board

Lý Tuấn Kiệt1.9%

Deputy General Director

Vương Văn Minh1.0%

Member of Management Board/General Director

Lê Hoàng Khởi0.5%

Member of Management Board/Deputy General Director

Nguyễn Thị Cẩm Vân0.3%

Independent Member of Management Board

Nguyễn Thuỳ Dương0.2%

Deputy General Director

Lý Điền Sơn0.2%

Vice Chairman of Management Board

Đặng Thị Thuỳ Trang0.1%

Chief Accountant

Ngô Thị Thanh Tâm

Deputy General Director

Huỳnh Chí Tâm

Spokesman/Person in charge of Corporate governace

Nguyễn Thành Ân

Internal auditor

Lê Thị Mai Khanh

Member of Supervisors Board

Trương Thị Sương

Head of Internal auditor

Đặng Thế Lương

Internal auditor

Nguyễn Phương Nam

Head of Supervisors Board

Lê Thị Thuỳ Trang

Member of Supervisors Board

Top connections

QNS13.9%PNJ8 links FPT5 links ACV13.9%VTR9.9%FUEVFVND6.9%DBC6.2%TTN2 links MWG5 links PVD4 links FRT6 links ITD4.9%

Director-deal registrations · 12 months

Sale registrations: 13 by 11 traders; 28,670,925 shares · 8 without a stated volume
Purchase registrations: 36 by 21 traders; 87,728,200 shares · 1 without a stated volume

Vương Thị Ngọc Anh
Purchase · Related person
10,000
2026-10-14
Huỳnh Chí Tâm
Purchase · Insider
80,000
2026-10-13
Lý Thiên Ân
Purchase · Related person
32,000
2026-10-13
Nguyễn Thuỳ Dương
Purchase · Insider
700,000
2026-10-13
Trương Thị Sương
Purchase · Insider
19,000
2026-10-13
Đặng Thị Thuỳ Trang
Purchase · Insider
390,000
2026-10-13
Ngô Thị Thanh Tâm
Purchase · Insider
140,000
2026-10-09
Vương Văn Minh
Purchase · Insider
1,200,000
2026-10-09

41 more registrations

Mai Trần Thanh Trang
Purchase · Insider
14,000,000
2026-10-09
Lê Hoàng Khởi
Purchase · Insider
1,000,000
2026-10-09
Mai Trần Thùy Trang
Purchase · Related person
11,000
2026-10-09
Lý Tuấn Kiệt
Purchase · Insider
650,000
2026-10-07
Lý Điền Sơn
Purchase · Insider
1,300,000
2026-10-05
Đặng Thế Lương
Purchase · Insider
15,000
2026-10-05
Huỳnh Chí Tâm
Purchase · Insider
80,000
2026-09-25
Lê Hoàng Khởi
Purchase · Insider
1,000,000
2026-09-25
Lý Thiên Ân
Purchase · Related person
32,000
2026-09-25
Lý Tuấn Kiệt
Purchase · Insider
650,000
2026-09-25
Lý Điền Sơn
Purchase · Insider
1,300,000
2026-09-25
Mai Trần Thanh Trang
Purchase · Insider
14,000,000
2026-09-25
Mai Trần Thùy Trang
Purchase · Related person
11,000
2026-09-25
Nguyễn Thuỳ Dương
Purchase · Insider
700,000
2026-09-25
Nguyễn Thành Ân
Purchase · Insider
25,000
2026-09-25
Ngô Thị Thanh Tâm
Purchase · Insider
140,000
2026-09-25
Trương Thị Sương
Purchase · Insider
19,000
2026-09-25
Vương Thị Ngọc Anh
Purchase · Related person
10,000
2026-09-25
Vương Văn Minh
Purchase · Insider
1,200,000
2026-09-25
Đặng Thế Lương
Purchase · Insider
15,000
2026-09-25
Đặng Thị Thuỳ Trang
Purchase · Insider
390,000
2026-09-25
Lý Tuấn Kiệt
Purchase · Related person
20,000,000
2026-07-21
Hanoi Investments Holdings Limited
Sale · Institution
—
2026-06-16
Samsung Vietnam Securities Master Investment Trust
Purchase · Institution
—
2026-06-11
Hanoi Investments Holdings Limited
Sale · Institution
—
2026-06-04
Quỹ Đầu tư Cổ phiếu Tăng trưởng Chiến lược VinaCapital
Sale · Institution
—
2026-05-05
VOF Investment Limited
Sale · Institution
—
2026-05-05
Công ty Cổ phần Quản lý Quỹ VinaCapital
Purchase · Institution
4,000
2026-04-03
Visaka Holdings Limited
Purchase · Institution
5,200
2026-04-03
Vietnam Investment Property Limited
Sale · Institution
7,500,000
2026-03-19
VOF Investment Limited
Purchase · Institution
10,000,000
2026-02-13
Gates Foundation Trust
Sale · Institution
—
2026-02-12
Norges Bank
Sale · Institution
—
2026-02-12
Samsung Vietnam Securities Master Investment Trust
Sale · Institution
—
2026-02-12
Vietnam Enterprise Investments Limited
Sale · Institution
—
2026-02-12
Quỹ Đầu tư Cổ phiếu Kinh tế hiện đại VinaCapital
Sale · Institution
1,500,000
2026-01-09
Quỹ Đầu tư Cổ phiếu Tăng trưởng Chiến lược VinaCapital
Sale · Institution
1,949,925
2026-01-09
Nguyễn Thành Ân
Sale · Insider
21,000
2025-11-28
Lý Điền Sơn
Sale · Insider
17,700,000
2025-11-21
Đoàn Thị Nguyên
Purchase · Related person
17,700,000
2025-11-21
Quỹ Đầu tư Cổ phiếu Doanh nghiệp hàng đầu VinaCapital
Purchase · Institution
900,000
2025-11-07

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

Valuation Breakdown

DCF Sensitivity

KDH among Real Estate

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

KDH among Real Estate