SSI Securities Corporation (SSI) Fair Value & Analysis
Financial Services · VN · Market cap 60.4T VND
Fair value as of: Aug 13, 2026
From 9 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from 28,021 VND to 17,375 VND (−38.0%) since Jul 19, 2026. Share price −2.2% over the past month.
Below-average quality, and screening another 31% overvalued on our models.
What matters now
- Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (10,915 VND to 30,833 VND). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- 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 13, 2026.
How to read this chart
60‑month range 9,192 VND – 37,755 VND · fair‑value band 10,915 VND – 30,833 VND · the 25,000 VND price screens above the 17,375 VND fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
SSI Securities Corporation (SSI) currently trades at 25,000 VND, while our model-based Fair Value estimate is 17,375 VND, implying the stock looks roughly 30.5% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, SSI Securities Corporation generated revenue of 11.0T VND at a net margin of 41.1%. Revenue grew 46.7% year over year. It earns a return on equity of 13.5%. Net debt stands at 56.5T VND. Fundamentals as of Aug 13, 2026
Our scenario range runs from 10,915 VND (bear case) to 30,833 VND (bull case); at 25,000 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 37% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -22% fair-value upside, at -31%, SSI screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 9 models by family
Widest divergence: DCF Models (62,540 VND) versus Asset-Based (8,589 VND). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 26 · Market factors (momentum, volatility) 27
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.
About the company
SSI Securities Corporation provides financial products and services in Vietnam. The company offers securities products and services, including account opening, brokerage, order placing, advisory, cash transactions, securities depository, and consultancy and support for OTC transactions; distribution of open-ended fund certificates, ETFs, certificates of …
Full company description
SSI Securities Corporation provides financial products and services in Vietnam. The company offers securities products and services, including account opening, brokerage, order placing, advisory, cash transactions, securities depository, and consultancy and support for OTC transactions; distribution of open-ended fund certificates, ETFs, certificates of deposit and corporate bond; initial public offering, and coverage warrants auction house; trades in covered warrants; and financial, e-trading, research and investment, and wealth management services for individual clients. It also engages in investing in equity, bond, fund certificate, and derivative; treasury services; and investment banking activities comprising corporate financing, merger and acquisitions, and advisory for capital raising in domestic and international markets. In addition, the company provides asset management services, including fund and portfolio management, and investment advisory services. The company was incorporated in 1999 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
SSI Securities Corporation reported revenue of 6.3T VND in FY2025 versus 4.4T VND in FY2021, a compound +9.3%/yr. Reported net income was 4.1T VND in FY2025, compounding +11.1%/yr from FY2021.
SSI screens 31% overvalued. Compare with Mirae Asset Securities Co →
Peer Group
Capital Markets · 425 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 Capital Markets median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Mirae Asset Securities Co 006800 | 38,050 KRW | 18,009 KRW | -53% |
| Meritz Financial Group 138040 | 118,600 KRW | 52,717 KRW | -56% |
| Korea Investment Holdings 071050 | 200,500 KRW | 189,335 KRW | -6% |
| NH Investment & Securities Co 005940 | 28,550 KRW | 22,396 KRW | -22% |
| Samsung Securities Co 016360 | 93,100 KRW | 75,573 KRW | -19% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹901.00 | ₹403.57 | -55% |
| Kiwoom Securities Co 039490 | 299,000 KRW | 214,812 KRW | -28% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 294.30 ARS | -6% |
| Daishin Securities Co 003540 | 26,950 KRW | 48,790 KRW | +81% |
| SK Securities Co 001515 | 4,285 KRW | 1,395 KRW | -67% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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