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PGI

Tổng Công ty Cổ phần Bảo hiểm Petrolimex

VietnamInsuranceBảo hiểmBảo hiểm phi nhân thọHOSEBH
21.000
VND · Close 2 Nov 2026

Calibrated intrinsic value vs last close

Illustrative estimate
Comparison requires review
+6.3%Calibrated value vs last close
Last close (VND)
21.000
Calibrated intrinsic value (VND)
22.313

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. 1
    Measure the gap

    Between the model and the last close.

  2. 2
    Check the record2015–2024

    What gaps of that size went on to earn over the following year.

  3. 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

  • Trading liquidity is below the comparison threshold.

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

BH→Insurance
Classified as insurance because company type is BH (insurance company).
ModelPeer-Relative P/B
Intrinsic Value = Peer P/B x (Target ROE / Peer ROE) x BVPS

Insurance companies hold long-duration liabilities (future claims) whose true economic value isn't fully captured by accounting book value. This model benchmarks the insurer against peers: it takes the median P/B of comparable insurers and adjusts it based on how the target's profitability (ROE) compares to the peer group. A more profitable insurer deserves a premium; a less profitable one, a discount.

Technical details
Why this model

Insurers' embedded value (present value of future profits from in-force policies) is difficult to calculate from public data alone. Peer-relative P/B with an ROE adjustment serves as a practical proxy within the limits of the available data.

How it works

Takes the median P/B multiple of listed insurance peers and pulls it toward a 1.5x prior, more strongly when there are few peers (weight N/(N+4)). Adjusts by the ratio of the company's ROE to the peer median ROE (clamped to 0.7x-1.5x to prevent extremes). Multiplies adjusted P/B by current BVPS.

Best for

Life and non-life insurance companies where embedded value data is unavailable and peer benchmarking provides the most reliable reference.

1
Model Inputs
Avg ROE (3yr)→12.65%
2
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)→21.000
Calibrated value vs last close→+6.3%

Last close × (1 + calibrated gap / 100)

Calibrated intrinsic value (VND)
22.313
What feeds each step— click a source to highlight it in the statements
Profitability & book valuepeer source: dynamic
Feeds valuation:Model inputsFinal calculation
Line item2026202520242023202220212020201920182017201620152014201320122011
CURRENT ASSETS (Bn. VND)
·7,5567,1086,2105,6025,1585,1414,9964,5324,3173,6543,1073,0271,808··
Cash and cash equivalents (Bn. VND)
·102150144109101110111177142143176171360··
Short-term investments (Bn. VND)
·4,2244,1293,6433,1292,7892,7992,7362,5152,4841,9241,5701,384959··
Accounts receivable (Bn. VND)
·717644603462474438568488576385373359423··
Prepayments to suppliers (Bn. VND)
·333151189522850··
Net Inventories
·1019356667710121116··
Inventories, Net (Bn. VND)
·1019356667710121116··
Other current assets
·16614813114923438822524011310010810649··
Other current assets (Bn. VND)
·0.210.30.030.3200.10.90.90.60.0733··
LONG-TERM ASSETS (Bn. VND)
·1,6721,3171,2391,1601,209969847834702639610620595··
Long-term trade receivables (Bn. VND)
·343424141314121212121090··
Other long-term receivables (Bn. VND)
·343424141314121212121090··
Fixed assets (Bn. VND)
·648616628580479502464442413360407450431··
Tangible fixed assets
·345348356349305321267262242236233259252··
Intagible fixed assets
·303268271230174181171172147112154130129··
Investment in properties
·00007678808284865500··
Long-term investments (Bn. VND)
·931595524502568353270283186175131154155··
Investments in associate companies
·0111111111110··
Other long-term assets (Bn. VND)
·93359753952157837529729419219315170162··
Less: Provision for diminuation in value of long term investments
·−2−3−17−20−11−24−29−12−7−19−21−17−7··
Other non-current assets
·516548251820221586679··
Long-term prepayments (Bn. VND)
·486145251820221586672··
TOTAL ASSETS (Bn. VND)
·9,2288,4257,4496,7626,3676,1105,8435,3665,0194,2933,7173,6472,402··
LIABILITIES (Bn. VND)
·7,2756,5175,5845,0814,5894,6314,3053,8733,5523,3792,9132,7911,578··
Current liabilities (Bn. VND)
·7,2196,4615,5325,0444,5574,5954,2653,8303,5323,3632,9042,786316··
Short-term borrowings (Bn. VND)
·9066153580000000000··
Advances from customers (Bn. VND)
·000131664432323··
Long-term liabilities (Bn. VND)
·56565238313540431916952··
OWNER'S EQUITY(Bn.VND)
·1,9531,9071,8651,6801,7781,4801,5381,4931,468914804856825··
Capital and reserves (Bn. VND)
·1,9531,9071,8651,6801,7781,4801,5381,4931,468914804856825··
Paid-in capital (Bn. VND)
·1,1091,1091,1091,109887887887887887710710710699··
Other Reserves
·00000000000−130··
Investment and development funds (Bn. VND)
·199166155149787368515047423834··
Undistributed earnings (Bn. VND)
·39738335218336186157138121100228463··
TOTAL RESOURCES (Bn. VND)
·9,2288,4257,4496,7626,3676,1105,8435,3665,0194,2933,7173,6472,402··
Common shares (Bn. VND)
·1,1091,1091,1091,109887887887887887710710710699··

Earnings Quality

Fiscal year 2025
75
Good
Margin Stability
50
Revenue Quality
100

Quantitative Scores

F-Score
4/9
Neutral
Sharpe
−0.18
Negative
Composite
49
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 Burden1.81×Op. Margin0.05×Turnover0.39×Leverage4.72=ROE12.6%
Price Risk
Momentum
+13.3%
Volatility
44.5%
Max Drawdown
−23.2%

Key Ratios

Fiscal year 2025
1.19P/B
P/E
9.48
ROE
12.7%
ROA
2.8%
EPS
2.214
BVPS
17.613
Net Margin
6.7%
Rev Growth
+9.0%
Profit Growth
+5.7%
Div Yield
5.7%

Company Overview

Shares outstanding
111M
Charter Capital
1,109B VND
Sector (ICB L2)
Bảo hiểm
Industry (ICB L3)
Bảo hiểm phi nhân thọ
Sub-industry
Bảo hiểm phi nhân thọ
Company Type
BH
Computed 30/10/2026
Methodology & Disclosure

vnvalue is a stock research tool. Its results are calculated from public financial data with published formulas. Nothing on this page constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security.

All data, models, and outputs are provided AS IS without warranty of any kind. You are solely responsible for your investment decisions. Past performance and historical valuations are not indicative of future results.

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