VNEquity Research

UPCOM · Electric Utilities & Power Generation

SBM Bac Minh Development Investment Joint Stock Company

CTCP Dau tu Phat trien Bac Minh

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

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.

CompanyBac Minh Development Investment Joint Stock Company
TickerSBM
ExchangeUPCOM
IndustryElectric Utilities & Power Generation
Research stateNo research available NO_RESEARCH
Research certificationNo certified research
Matched opportunity conditions2 of 5
Latest screening snapshot2026-09-25T11:16:41.234206+00:00
Latest market price2026-09-24T00:00:00+00:00
Latest fundamental period2026-06-30
Latest research reportUnavailable
Evidence records104
Source documents6

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

2 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.

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 2.68% OK latest compatible full year
pat_growth -2.87% OK latest compatible full year
pe_ttm 9.4523x OK TTM 2026-06-30 · CURRENT
Thresholds
growth min percent
0
pe positive
yes
market current max hours
72.0

Cash-flow strength CASH_FLOW_STRENGTH

REFUSED

Required input fcf_proxy_yield is unavailable: TTM_OCF_OR_CAPEX_UNAVAILABLE.

Refused: TTM_OCF_OR_CAPEX_UNAVAILABLE

  • 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 · TTM_OCF_OR_CAPEX_UNAVAILABLE — · CURRENT
pe_ttm 9.4523x OK TTM 2026-06-30 · 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

MATCHED

PAT margin 45.1933% is positive, operating margin 52.1372% is at least 5%, and P/E 9.4523 is within (0, 40].

Magnitude: 52.1372%

  • Operating and PAT margins are not cross-sector comparable in this screening phase.
Observations (4)
InputValueStatusPeriod / freshness
market_price — OK — · CURRENT
pat_margin 45.1933% OK QUARTER 2026-06-30 · CURRENT
operating_margin 52.1372% OK QUARTER 2026-06-30 · CURRENT
pe_ttm 9.4523x OK TTM 2026-06-30 · 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 51.4% OK — · CURRENT
historical_premium_discount 0% OK — · CURRENT
historical_signal NEAR_HISTORY OK — · CURRENT
pe_ttm 9.4523x OK TTM 2026-06-30 · 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

MATCHED

No meaningful persisted research exists while at least one quantitative signal matched (QUALITY_AT_REASONABLE_VALUATION). This is a research-coverage observation, not a recommendation.

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 11:16:41.234206+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)9.4523x
P/B (parent equity)2.3738x
Revenue growth (latest compatible FY)2.68%
Parent PAT growth (latest compatible FY)-2.87%
Operating margin (latest compatible period)52.1372%
PAT margin (latest compatible period)45.1933%
FCF Proxy Yield (TTM)— TTM_OCF_OR_CAPEX_UNAVAILABLE
OCF / PAT (latest compatible period)407.3721%
Market freshnessCURRENT price 2026-09-24T00:00:00+00:00
Fundamental periodthrough 2026-06-30 freshness CURRENT
Snapshot built at2026-09-25T11:16:41.234206+00:00 01a09a79-9464-73b5-b4c0-9b3d188ce3ce
Persisted research stateNONE MISSING
Historical valuation signalNEAR_HISTORY available

Snapshot refusal reasons: HISTORICAL_VALUATION_NOT_REQUESTED; TTM_CAPEX_OR_REVENUE_UNAVAILABLE; TTM_DIVIDENDS_UNAVAILABLE; TTM_OCF_OR_CAPEX_UNAVAILABLE

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Valuation snapshot

ssi-iboard · UPCOM · 2026-09-24T00:00:00+00:00 · retrieved 2026-09-24T11:11:20.803336+00:00 · share basis: unavailable

Price31000.000000000000 VND
Shares outstanding—
Market cap1396393543000.000000000000
Market capitalization1396393543000.0000
Earnings yield (TTM, parent)10.5794%
P/E (TTM, parent)9.4523x
P/B (parent equity)2.3738x
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— TOTAL_DEBT_UNAVAILABLE
EV/Sales (TTM)— TOTAL_DEBT_UNAVAILABLE
EV/EBIT (TTM)— TOTAL_DEBT_UNAVAILABLE
Net cash / (net debt)— TOTAL_DEBT_UNAVAILABLE
EV/EBITDA— EBITDA_NOT_REPORTED_OR_DEBT_INCOMPLETE
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 51.02%
  • target P/E of 10.4x
ANALYST_ASSUMPTION
current TTM P/E +10% sensitivity, rounded to 0.1x
36528.299617.8332%
Base
  • TTM revenue growth of 0.00%
  • TTM parent PAT margin of 50.02%
  • target P/E of 9.5x
CURRENT_MULTIPLE
current TTM parent-attributable P/E, rounded to 0.1x
31155.42330.5014%
Bear
  • TTM revenue growth of -5.00%
  • TTM parent PAT margin of 49.02%
  • target P/E of 8.5x
ANALYST_ASSUMPTION
current TTM P/E -10% sensitivity, rounded to 0.1x
25952.6794-16.2817%

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/E9.45x
1Y median P/E— INSUFFICIENT_OBSERVATIONS (64 < 120)
3Y median P/E9.56x
5Y median P/E9.45x
25th / 75th percentile P/E8.57 / 10.02
Min / max P/E6.41 / 12.16 (raw 5.47 / 16.33)
Percentile rank51.4%
Premium / discount to median0.0%
SignalNEAR_HISTORY percentile_rank 51.4 between 25 and 75
CertificationNON_CERTIFIED_MODELED_AVAILABILITY 40 observations use REPORT_LAG_MODEL; 143 observations use ANNUAL_PAT_FALLBACK
P/B history— PARENT_EQUITY_HISTORY_UNAVAILABLE
Dividend-yield history— DIVIDEND_PER_SHARE_HISTORY_UNAVAILABLE

P/E range 5.47x – 16.33x 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': 483} bars); MISSING_PERIODS: start=2021-07-13, end=2021-08-30, calendar_days=48; MISSING_PERIODS: start=2021-08-30, end=2021-09-20, calendar_days=21; MISSING_PERIODS: start=2021-11-04, end=2021-11-15, calendar_days=11; MISSING_PERIODS: start=2021-12-24, end=2022-01-05, calendar_days=12; MISSING_PERIODS: start=2022-01-10, end=2022-01-24, calendar_days=14; MISSING_PERIODS: start=2022-01-28, end=2022-02-10, calendar_days=13; MISSING_PERIODS: start=2022-04-27, end=2022-05-09, calendar_days=12; MISSING_PERIODS: start=2022-06-06, end=2022-06-17, calendar_days=11; MISSING_PERIODS: start=2022-06-17, end=2022-07-08, calendar_days=21; MISSING_PERIODS: start=2022-07-11, end=2022-07-27, calendar_days=16; MISSING_PERIODS: start=2022-08-08, end=2022-08-22, calendar_days=14; MISSING_PERIODS: start=2022-09-15, end=2022-12-07, calendar_days=83; MISSING_PERIODS: start=2022-12-16, end=2022-12-27, calendar_days=11; MISSING_PERIODS: start=2023-02-06, end=2023-02-27, calendar_days=21; MISSING_PERIODS: start=2023-03-08, end=2023-03-24, calendar_days=16; MISSING_PERIODS: start=2023-04-03, end=2023-04-14, calendar_days=11; MISSING_PERIODS: start=2023-04-21, end=2023-05-15, calendar_days=24; MISSING_PERIODS: start=2023-05-15, end=2023-06-02, calendar_days=18; MISSING_PERIODS: start=2023-06-30, end=2023-07-13, calendar_days=13; MISSING_PERIODS: start=2023-07-24, end=2023-08-09, calendar_days=16; MISSING_PERIODS: start=2023-08-11, end=2023-08-29, calendar_days=18; MISSING_PERIODS: start=2023-08-29, end=2023-09-26, calendar_days=28; MISSING_PERIODS: start=2023-09-28, end=2023-10-26, calendar_days=28; MISSING_PERIODS: start=2023-10-27, end=2023-11-27, calendar_days=31; MISSING_PERIODS: start=2023-12-01, end=2023-12-12, calendar_days=11; MISSING_PERIODS: start=2023-12-21, end=2024-01-15, calendar_days=25; MISSING_PERIODS: start=2024-02-05, end=2024-02-27, calendar_days=22; MISSING_PERIODS: start=2024-02-27, end=2024-03-18, calendar_days=20; MISSING_PERIODS: start=2024-04-22, end=2024-05-06, calendar_days=14; MISSING_PERIODS: start=2024-05-15, end=2024-05-28, calendar_days=13; MISSING_PERIODS: start=2024-06-04, end=2024-06-17, calendar_days=13; MISSING_PERIODS: start=2024-06-28, end=2024-08-01, calendar_days=34; MISSING_PERIODS: start=2024-08-01, end=2024-08-14, calendar_days=13; MISSING_PERIODS: start=2024-08-22, end=2024-09-16, calendar_days=25; MISSING_PERIODS: start=2024-09-23, end=2024-10-04, calendar_days=11; MISSING_PERIODS: start=2024-10-07, end=2024-10-21, calendar_days=14; MISSING_PERIODS: start=2024-10-21, end=2024-11-21, calendar_days=31; MISSING_PERIODS: start=2024-12-02, end=2024-12-26, calendar_days=24; MISSING_PERIODS: start=2025-01-03, end=2025-02-06, calendar_days=34; MISSING_PERIODS: start=2025-04-10, end=2025-04-25, calendar_days=15; MISSING_PERIODS: start=2025-06-18, end=2025-07-14, calendar_days=26; MISSING_PERIODS: start=2025-09-30, end=2025-10-14, calendar_days=14; MISSING_PERIODS: start=2025-10-14, end=2025-11-19, calendar_days=36; MISSING_PERIODS: start=2025-12-24, end=2026-01-14, calendar_days=21; MISSING_PERIODS: start=2026-02-12, end=2026-03-17, calendar_days=33; MISSING_PERIODS: start=2026-03-20, end=2026-03-31, calendar_days=11; MISSING_PERIODS: start=2026-04-17, end=2026-05-07, calendar_days=20; MISSING_PERIODS: start=2026-06-08, end=2026-06-19, calendar_days=11; MISSING_PERIODS: start=2026-07-01, end=2026-07-17, calendar_days=16; SUSPICIOUS_DISCONTINUITY: trade_date=2021-11-25, previous_close=12.540000000000, close=15.250000000000, absolute_return=0.2161084529505582137161084530; ADJUSTMENT_UNKNOWN: adjusted=False, adjustment_basis=UNKNOWN

Peer comparison

EXACT_INDUSTRY · Exact primary-industry and exchange match. · 21 compatible peer(s)

TickerPriceMarket capP/EP/BRevenue growthPAT growthMarginsFCF proxy yieldPremium / discount to peer median
AVC 40400.000000000000 VND 3032102900800.000000000000 VND 11.12x 2.53x -3.44% -9.36% 37.08% — TTM_OCF_OR_CAPEX_UNAVAILABLE 29.8%
BGE 2700.000000000000 VND 1971000000000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 0.19x — PRIOR_PERIOD_UNAVAILABLE — PRIOR_PERIOD_UNAVAILABLE 30.86% 40.70% —
BHA 21300.000000000000 VND 1405800000000.000000000000 VND 8.67x 1.31x -7.28% 2.09% 49.47% 9.87% 1.2%
BSA 19500.000000000000 VND 1303594012500.000000000000 VND 9.91x 1.35x 23.99% 130.94% 44.22% 23.66% 15.6%
DNH 45000.000000000000 VND 19008000000000.000000000000 VND 16.17x 3.67x 9.81% 1.36% 40.05% — TTM_OCF_OR_CAPEX_UNAVAILABLE 88.7%
GSM 23500.000000000000 VND 671207000000.000000000000 VND 6.54x 1.19x 47.00% 64.11% 49.59% — TTM_OCF_OR_CAPEX_UNAVAILABLE -23.7%
HIO 7300.000000000000 VND 306600000000.000000000000 VND 3.01x 1.15x -8.12% -35.69% 12.37% — TTM_OCF_OR_CAPEX_UNAVAILABLE -64.9%
HND 9300.000000000000 VND 4650000000000.000000000000 VND 8.91x 0.78x -11.83% 32.28% 3.52% — TTM_OCF_OR_CAPEX_UNAVAILABLE 4.0%
HPD 16100.000000000000 VND 133736099000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 0.95x 18.16% 23.68% 48.34% — TTM_OCF_OR_CAPEX_UNAVAILABLE —
ISH 22000.000000000000 VND 990000000000.000000000000 VND 11.13x 1.68x 9.91% 10.57% 38.65% — TTM_OCF_OR_CAPEX_UNAVAILABLE 29.9%
ND2 32500.000000000000 VND 1624803700000.000000000000 VND 7.49x 1.75x 11.98% 32.70% 52.54% — TTM_OCF_OR_CAPEX_UNAVAILABLE -12.6%
NED 5800.000000000000 VND 234900000000.000000000000 VND 8.63x 0.47x 9.15% 37.66% 40.53% 29.12% 0.7%
QPH 33800.000000000000 VND 628108780000.000000000000 VND 8.57x — PARENT_EQUITY_UNAVAILABLE -0.12% -1.97% 64.01% — TTM_OCF_OR_CAPEX_UNAVAILABLE 0.0%
QTP 11000.000000000000 VND 4950000000000.000000000000 VND 4.08x 0.83x -9.43% 67.28% 9.60% — TTM_OCF_OR_CAPEX_UNAVAILABLE -52.4%
SBH 38400.000000000000 VND 4770240000000.000000000000 VND 8.61x 2.39x 57.73% 97.44% 54.56% — TTM_OCF_OR_CAPEX_UNAVAILABLE 0.5%
SP2 24000.000000000000 VND 497904000000.000000000000 VND 7.78x 2.80x -2.25% 10.01% 34.04% — TTM_OCF_OR_CAPEX_UNAVAILABLE -9.2%
SVH 6000.000000000000 VND 88923972000.000000000000 VND 1.85x 0.32x 49.60% 80.23% 62.56% — TTM_OCF_OR_CAPEX_UNAVAILABLE -78.4%
TDB 39500.000000000000 VND 325085000000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 3.50x 11.87% 12.19% 48.54% — TTM_OCF_OR_CAPEX_UNAVAILABLE —
VCP 23200.000000000000 VND 1943920065600.000000000000 VND 3.20x 0.79x 29.02% 44.02% 19.30% — TTM_OCF_OR_CAPEX_UNAVAILABLE -62.7%
VMK 21500.000000000000 VND 170063968000.000000000000 VND — PARENT_PAT_TTM_UNAVAILABLE_OR_NON_POSITIVE 2.02x 1.49% -24.59% 8.23% — TTM_OCF_OR_CAPEX_UNAVAILABLE —
XMP 15000.000000000000 VND 225000000000.000000000000 VND 7.03x 1.20x 12.76% 56.09% 34.46% — TTM_OCF_OR_CAPEX_UNAVAILABLE -18.0%

Peer median P/E: 8.57x (17 compatible observations · P25 6.54x / P75 8.91x) · target rank 14 · percentile 76.5% · target premium/discount 10.3%

Excluded: BTP (NO_COMPATIBLE_CLASSIFICATION); SJD (NO_COMPATIBLE_CLASSIFICATION); CHP (NO_COMPATIBLE_CLASSIFICATION); GEG (NO_COMPATIBLE_CLASSIFICATION); GHC (NO_COMPATIBLE_CLASSIFICATION); DNC (NO_COMPATIBLE_CLASSIFICATION); HNA (NO_COMPATIBLE_CLASSIFICATION); DRL (NO_COMPATIBLE_CLASSIFICATION); UIC (NO_COMPATIBLE_CLASSIFICATION); KHP (NO_COMPATIBLE_CLASSIFICATION); SEB (NO_COMPATIBLE_CLASSIFICATION); HJS (NO_COMPATIBLE_CLASSIFICATION); NBP (NO_COMPATIBLE_CLASSIFICATION); PIC (NO_COMPATIBLE_CLASSIFICATION); POW (NO_COMPATIBLE_CLASSIFICATION); NT2 (NO_COMPATIBLE_CLASSIFICATION); PPC (NO_COMPATIBLE_CLASSIFICATION); PGV (NO_COMPATIBLE_CLASSIFICATION); REE (NO_COMPATIBLE_CLASSIFICATION); S4A (NO_COMPATIBLE_CLASSIFICATION); SBA (NO_COMPATIBLE_CLASSIFICATION); SHP (NO_COMPATIBLE_CLASSIFICATION); TBC (NO_COMPATIBLE_CLASSIFICATION); TMP (NO_COMPATIBLE_CLASSIFICATION); TTA (NO_COMPATIBLE_CLASSIFICATION); TTE (NO_COMPATIBLE_CLASSIFICATION); VPD (NO_COMPATIBLE_CLASSIFICATION); DTK (NO_COMPATIBLE_CLASSIFICATION); VSH (NO_COMPATIBLE_CLASSIFICATION)

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

NO RESEARCH YET

Start with the evidence.

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Operator watchlist