Ho Chi Minh City Development Joint Stock Commercial Bank (HDB) Fair Value & Analysis
Financial Services · VN · Market cap 135T VND · ISIN VN000000HDB1
What is Ho Chi Minh City Development Joint Stock Commercial Bank really worth?
A solid business, currently priced close to our fair value of 27,095 VND.
Strengths
Risks
Fair value as of: Aug 20, 2026
From 6 valuation models · updated 16 days ago
Share price +2.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.
How to read this chart
60‑month range 7,128 VND – 29,700 VND · fair‑value band 20,321 VND – 33,869 VND · the 27,200 VND price screens above the 27,095 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Ho Chi Minh City Development Joint Stock Commercial Bank (HDB) currently trades at 27,200 VND, while our model-based Fair Value estimate is 27,095 VND, implying the stock looks roughly 0.4% fairly valued today. The Quality Score stands at 55/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of 32,647 VND per share, and 2 of the 6 models we run sit above the 27,200 VND price. Bear case: the Dividend Discount group reads lowest at 10,010 VND, and 4 of the 6 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Ho Chi Minh City Development Joint Stock Commercial Bank generated revenue of 33.8T VND at a net margin of 50.5%. Revenue grew 10.3% year over year. It earns a return on equity of 24.4%. Net debt stands at 35.7T VND. Fundamentals as of Aug 20, 2026
Our scenario range runs from 20,321 VND (bear case) to 33,869 VND (bull case); at 27,200 VND, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 65% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −17% fair-value upside, at 0%, HDB screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 2,333 VND per share, which is 8.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Economic Profit (32,647 VND) versus Dividend Discount (10,010 VND). Highest evidence: DDM Multi-Stage (66).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Ho Chi Minh City Development Joint Stock Commercial Bank provides various banking products and services to individuals and corporates in Vietnam and internationally.
Full company description
Ho Chi Minh City Development Joint Stock Commercial Bank provides various banking products and services to individuals and corporates in Vietnam and internationally. The company offers current account, savings, demand, online saving, and regular term deposits; health, hospital allowance, death and disability, accident, critical illness, home, civil liability for car, borrower, assets risks, fire and special risks, and protection and investment insurances; business, agriculture, car, consumer, and real estate loans; overdraft, paper discount, and intermediary payment services; foreign exchange and international transfers; debit, prepaid, and credit cards; remittance services; and collection and payment services, hold, nostro accounts, money deposits, and other services. It also provides working capital financing, medium and long-term loans, and guarantees; supply chain financing, import and export financing and services, and cross-border payments; and derivatives services. In addition, the company offers cash management, such as deposit and online deposit, collection services, cash payment services, authorized payment services, payroll/commission payment services, collection and disbursement services, digital cash services, bill payments, tax payments, and counter and electronic tax payments. Further, it provides online banking services, such as internet banking, SMS banking, and mobile banking, as well as ATM services. Ho Chi Minh City Development Joint Stock Commercial Bank was founded in 1989 and is headquartered in Ho Chi Minh City, Vietnam.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ho Chi Minh City Development Joint Stock Commercial Bank reported revenue of 42.7T VND in FY2025 versus 16.4T VND in FY2021, a compound +27.0%/yr. Reported net income was 16.5T VND in FY2025, compounding +28.5%/yr from FY2021.
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Peer Group
Banks - Regional · 1071 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDFCBANK | ₹709.00 | ₹448.34 | −37% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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