VNEquity Research

UPCOM · Securities

HVA HVA Investment Joint Stock Company

Công ty cổ phần Đầu tư HVA

Persisted research state: NONE. Research is shown only when it is backed by persisted evidence and calculations.

Browse opportunity signals Open screener

At a glance

Company at a glance

Persisted, canonical facts only. A value that is not recorded is shown as unavailable and is never estimated, substituted or shown as zero.

CompanyHVA Investment Joint Stock Company
TickerHVA
ExchangeUPCOM
IndustrySecurities
Research stateNo research available NO_RESEARCH
Research certificationNo certified research
Matched opportunity conditions0 of 5
Latest screening snapshot2026-09-25T09:56:19.711629+00:00
Latest market price2026-09-24T00:00:00+00:00
Latest fundamental period2026-03-31
Latest research reportUnavailable
Evidence records79
Source documents5

Certification reflects the repository's internal approval record on the latest persisted report. It describes publication status and provenance; it is not a rating, a forecast or investment advice.

Deterministic discovery

Opportunity signals

Browse opportunity signals

0 of 5 versioned P7D V1 conditions matched at evaluation time. Every condition is either matched, unmatched, or refused when the required evidence is missing, stale or not applicable. These are deterministic screening conditions, not investment recommendations.

No deterministic condition currently matches this company. Missing evidence fails closed and never becomes a match.

Modeled history. Historical valuation availability is modeled from reporting-lag assumptions and is not point-in-time certified.

Full five-rule trace (P7D_RULES_V1)

Fundamental improvement FUNDAMENTAL_IMPROVEMENT

UNMATCHED

Positive revenue growth, positive parent PAT growth and positive trailing parent earnings are not all present.

  • Growth compares the latest two compatible full years.
  • Growth is historical, not forecast growth.
  • Parent PAT growth uses the repository's existing denominator semantics: the latest full-year PARENT_PAT versus the prior full-year PARENT_PAT.
Observations (4)
InputValueStatusPeriod / freshness
market_price — OK — · CURRENT
revenue_growth 427.09% OK latest compatible full year
pat_growth -36.25% OK latest compatible full year
pe_ttm 16.3395x OK TTM 2026-03-31 · CURRENT
Thresholds
growth min percent
0
pe positive
yes
market current max hours
72.0

Cash-flow strength CASH_FLOW_STRENGTH

REFUSED

Industrial free-cash-flow semantics do not apply to financial companies under canonical metric applicability.

Refused: INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS

  • FCF Proxy Yield is a screening proxy: trailing-twelve-month operating cash flow less reported cash capital expenditure over market capitalization.
Observations (3)
InputValueStatusPeriod / freshness
market_price — OK — · CURRENT
fcf_proxy_yield — REFUSED · INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS — · CURRENT
pe_ttm 16.3395x OK TTM 2026-03-31 · CURRENT
Thresholds
fcf proxy yield min percent
0
pe positive
yes
financial applicability
NON_FINANCIAL_ONLY
market current max hours
72.0

Quality at a reasonable valuation QUALITY_AT_REASONABLE_VALUATION

UNMATCHED

Positive PAT margin, the operating margin floor and a positive reasonable P/E are not all present.

  • Operating and PAT margins are not cross-sector comparable in this screening phase.
Observations (4)
InputValueStatusPeriod / freshness
market_price — OK — · CURRENT
pat_margin 0.3978% OK QUARTER 2026-03-31 · AGING
operating_margin 0.4998% OK QUARTER 2026-03-31 · AGING
pe_ttm 16.3395x OK TTM 2026-03-31 · CURRENT
Thresholds
pat margin min percent
0
operating margin min percent
5
pe min exclusive
0
pe max inclusive
40
market current max hours
72.0

Valuation dislocation VALUATION_DISLOCATION

UNMATCHED

The below-history percentile, signal, negative premium/discount and positive P/E requirements are not all present.

Historical certification: NON_CERTIFIED_MODELED_AVAILABILITY — modeled, not point-in-time certified

  • Historical valuation availability is modeled from reporting-lag assumptions and is not point-in-time certified.
Observations (6)
InputValueStatusPeriod / freshness
market_price — OK — · CURRENT
historical_pe_percentile 30.9% OK — · CURRENT
historical_premium_discount -51.1% OK — · CURRENT
historical_signal NEAR_HISTORY OK — · CURRENT
pe_ttm 16.3395x OK TTM 2026-03-31 · CURRENT
historical_certification NON_CERTIFIED_MODELED_AVAILABILITY OK —
Thresholds
historical percentile max
25
historical signals
BELOW_HISTORY, DEEPLY_BELOW_HISTORY
historical premium discount max exclusive
0
pe positive
yes
market current max hours
72.0

Research gap RESEARCH_GAP

UNMATCHED

No quantitative signal matched, so the research gap is not actionable by this rule.

Observations (1)
InputValueStatusPeriod / freshness
research_state NONE OK — · MISSING
Thresholds
research gap states
NONE, INSUFFICIENT
requires quantitative signal
yes

Rules version P7D_RULES_V1 · snapshot built 2026-09-25 09:56:19.711629+00:00 · market freshness CURRENT · persisted research state NONE. These are deterministic screening conditions over persisted evidence, not investment recommendations, forecasts, ratings or advice.

Canonical snapshot

Screening metrics

Open screener

Values come from the persisted screening snapshot and are never recomputed in the browser. UNKNOWN or refused inputs show as “—” with their canonical reason and are never displayed as zero. OCF/PAT is expressed as a percentage of PAT (100 means 100% of PAT).

P/E (TTM, parent)16.3395x
P/B (parent equity)0.26x
Revenue growth (latest compatible FY)427.09%
Parent PAT growth (latest compatible FY)-36.25%
Operating margin (latest compatible period)0.4998%
PAT margin (latest compatible period)0.3978%
FCF Proxy Yield (TTM)— INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS
OCF / PAT (latest compatible period)— INSUFFICIENT_PERSISTED_EVIDENCE
Market freshnessCURRENT price 2026-09-24T00:00:00+00:00
Fundamental periodthrough 2026-03-31 freshness AGING
Snapshot built at2026-09-25T09:56:19.711629+00:00 01a09a78-827c-7b44-b6f3-c46bdb83586e
Persisted research stateNONE MISSING
Historical valuation signalNEAR_HISTORY available

Snapshot refusal reasons: HISTORICAL_VALUATION_NOT_REQUESTED; INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS; INSUFFICIENT_PERSISTED_EVIDENCE; TTM_CAPEX_OR_REVENUE_UNAVAILABLE; TTM_DIVIDENDS_UNAVAILABLE

Authenticated

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Valuation snapshot

ssi-iboard · UPCOM · 2026-09-24T00:00:00+00:00 · retrieved 2026-09-24T09:51:02.630539+00:00 · share basis: unavailable

Price2900.000000000000 VND
Shares outstanding—
Market cap39585000000.000000000000
Market capitalization39585000000.0000
Earnings yield (TTM, parent)6.1201%
P/E (TTM, parent)16.3395x
P/B (parent equity)0.2600x
Dividend yield (trailing cash DPS)— DIVIDEND_PER_SHARE_UNAVAILABLE
Cash distribution yield (proxy)— TTM_DIVIDENDS_UNAVAILABLE
FCF Proxy Yield (TTM)— TTM_OCF_OR_CAPEX_UNAVAILABLE
Enterprise value— INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS
EV/Sales (TTM)— INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS
EV/EBIT (TTM)— INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS
EV/EBITDA— INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS
Net cash / (net debt)— INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS
Historical P/E range— HISTORICAL_PRICE_HISTORY_UNAVAILABLE

Deterministic Bull / Base / Bear

CaseAssumptionsTarget multiple rationaleImplied value / shareUpside / downside
Bull
  • TTM revenue growth of 5.00%
  • TTM parent PAT margin of 3.68%
  • target P/E of 18.0x
ANALYST_ASSUMPTION
current TTM P/E +10% sensitivity, rounded to 0.1x		4613.736159.0943%
Base
  • TTM revenue growth of 0.00%
  • TTM parent PAT margin of 2.68%
  • target P/E of 16.3x
CURRENT_MULTIPLE
current TTM parent-attributable P/E, rounded to 0.1x		2897.7807-0.0765%
Bear
  • TTM revenue growth of -5.00%
  • TTM parent PAT margin of 1.68%
  • target P/E of 14.7x
ANALYST_ASSUMPTION
current TTM P/E -10% sensitivity, rounded to 0.1x		1556.3001-46.3345%

Historical valuation

Point-in-time P/E uses only periods available on each trade date (publication-dated or lag-modeled); no negative earnings produce an observation.

Current P/E16.34x
1Y median P/E35.40x
3Y median P/E36.88x
5Y median P/E33.39x
25th / 75th percentile P/E13.24 / 147.72
Min / max P/E6.19 / 340.80 (raw 6.19 / 436.42)
Percentile rank30.9%
Premium / discount to median-51.1%
SignalNEAR_HISTORY percentile_rank 30.9 between 25 and 75
CertificationNON_CERTIFIED_MODELED_AVAILABILITY 83 observations use REPORT_LAG_MODEL; 681 observations use ANNUAL_PAT_FALLBACK
P/B history— PARENT_EQUITY_HISTORY_UNAVAILABLE
Dividend-yield history— DIVIDEND_PER_SHARE_HISTORY_UNAVAILABLE

P/E range 9.33x – 436.42x over stored observations.

Historical availability may be modeled from reporting-lag assumptions (NON_CERTIFIED_MODELED_AVAILABILITY). Modeled availability is labelled and is never point-in-time certified.

Notes: PROVIDER_SELECTED: dnse-chart ({'dnse-chart': 1358} bars); MISSING_PERIODS: start=2023-08-31, end=2023-09-11, calendar_days=11; ADJUSTMENT_UNKNOWN: adjusted=False, adjustment_basis=UNKNOWN

Peer comparison

EXACT_INDUSTRY · Exact primary-industry and exchange match. · 10 compatible peer(s)

TickerPriceMarket capP/EP/BRevenue growthPAT growthMarginsFCF proxy yieldPremium / discount to peer median
AAS financial 9000.000000000000 VND 2069995689000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 0.78x -89.40% — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
ABW financial 14300.000000000000 VND 4306445000000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 2.70x 21.57% — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
ART financial 1300.000000000000 VND 125999261700.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE — PARENT_EQUITY_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
BMS financial 12400.000000000000 VND 2667835646400.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 1.21x -56.70% — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
CSI financial 15300.000000000000 VND 257040000000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE — PARENT_EQUITY_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
HAC financial 9000.000000000000 VND 1162629864000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 3.74x 20.02% — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
PHS financial 10000.000000000000 VND 2000098190000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE — PARENT_EQUITY_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
SBS financial 4100.000000000000 VND 601091160000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE — PARENT_EQUITY_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
UPS financial 21600.000000000000 VND 699291360000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE — PARENT_EQUITY_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —
VUA financial 17000.000000000000 VND 3400000000000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 12.58x -95.29% — PRIOR_PERIOD_UNAVAILABLE — MATCHING_REVENUE_AND_PAT_PERIOD_UNAVAILABLE — INDUSTRIAL_VALUATION_NOT_APPLICABLE_TO_FINANCIALS —

Peer median P/E: — INSUFFICIENT_COMPATIBLE_PEERS (0 compatible observations, 10 excluded)

Excluded: APG (NO_COMPATIBLE_CLASSIFICATION); AGR (NO_COMPATIBLE_CLASSIFICATION); APS (NO_COMPATIBLE_CLASSIFICATION); BSI (NO_COMPATIBLE_CLASSIFICATION); BVS (NO_COMPATIBLE_CLASSIFICATION); DSE (NO_COMPATIBLE_CLASSIFICATION); DSC (NO_COMPATIBLE_CLASSIFICATION); EVS (NO_COMPATIBLE_CLASSIFICATION); FTS (NO_COMPATIBLE_CLASSIFICATION); IVS (NO_COMPATIBLE_CLASSIFICATION); HCM (NO_COMPATIBLE_CLASSIFICATION); HBS (NO_COMPATIBLE_CLASSIFICATION); MBS (NO_COMPATIBLE_CLASSIFICATION); PSI (NO_COMPATIBLE_CLASSIFICATION); SSI (NO_COMPATIBLE_CLASSIFICATION); SHS (NO_COMPATIBLE_CLASSIFICATION); TVB (NO_COMPATIBLE_CLASSIFICATION); TCX (NO_COMPATIBLE_CLASSIFICATION); TCI (NO_COMPATIBLE_CLASSIFICATION); TVS (NO_COMPATIBLE_CLASSIFICATION); ORS (NO_COMPATIBLE_CLASSIFICATION); VIX (NO_COMPATIBLE_CLASSIFICATION); VND (NO_COMPATIBLE_CLASSIFICATION); VPX (NO_COMPATIBLE_CLASSIFICATION); VCK (NO_COMPATIBLE_CLASSIFICATION); VDS (NO_COMPATIBLE_CLASSIFICATION); VFS (NO_COMPATIBLE_CLASSIFICATION); VIG (NO_COMPATIBLE_CLASSIFICATION); VCI (NO_COMPATIBLE_CLASSIFICATION); CTS (NO_COMPATIBLE_CLASSIFICATION); WSS (NO_COMPATIBLE_CLASSIFICATION)

comparison inputs, not causal conclusions: revenue_growth_percent, pat_growth_percent, net_margin_percent, price_to_book

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