Vingroup JSC (STC:VIC) Cyclically Adjusted Book per Share: ₫19,780.09 (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

STC:VIC Vingroup JSC STC:VIC
82 GF Score
Price ₫241,200.00
GF Value ₫67,253.43
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Vingroup JSC Cyclically Adjusted Book per Share?

Vingroup JSC STC:VIC -0.04% 82 Cyclically Adjusted Book per Share is ₫19,780.09 as of Jun. 2026. GuruFocus rates STC:VIC with a GF Score™ of 82/100 and a GF Value™ of ₫67,253.43 (Significantly Overvalued). The stock has 7 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Vingroup JSC's adjusted book value per share for the three months ended in Jun. 2026 was ₫25,170.400. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is ₫19,780.09 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Vingroup JSC's average Cyclically Adjusted Book Growth Rate was 16.10% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 17.10% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 19.60% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Vingroup JSC was 22.20% per year. The lowest was 17.10% per year. And the median was 19.00% per year.

As of today (2026-09-16), Vingroup JSC's current stock price is ₫241200.00. Vingroup JSC's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was ₫19,780.09. Vingroup JSC's Cyclically Adjusted PB Ratio of today is 12.19.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Vingroup JSC was 17.88. The lowest was 1.77. And the median was 4.28.


Vingroup JSC  (STC:VIC) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Vingroup JSC's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=241200.00/19780.09
=12.19

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Vingroup JSC was 17.88. The lowest was 1.77. And the median was 4.28.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Vingroup JSC Cyclically Adjusted Book per Share Related Terms


Vingroup JSC Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for Vingroup JSC's Cyclically Adjusted Book per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Vingroup JSC Cyclically Adjusted Book per Share Chart

Vingroup JSC Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11,093.09 13,405.33 15,416.72 17,334.61 19,013.54

Vingroup JSC Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 17,982.72 18,488.43 18,757.52 19,421.96 19,780.09

STC:VIC vs CBRE, BEKE, JLL: Cyclically Adjusted Book per Share Comparison

For the Real Estate Services subindustry, Vingroup JSC's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Vingroup JSC Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Vingroup JSC's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Vingroup JSC's Cyclically Adjusted PB Ratio falls into.


STC:VIC
82GF Score
Vingroup JSC STC:VIC
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vingroup JSC Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Vingroup JSC's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book= Book Value per Share /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=25170.4/333.9520*333.9520
=25,170.400

Current CPI (Jun. 2026) = 333.9520.

Vingroup JSC Quarterly Data

Book Value per Share CPI Adj_Book
201609 6,264.995 241.428 8,665.969
201612 7,219.827 241.432 9,986.562
201703 6,452.315 243.801 8,838.206
201706 6,482.622 244.955 8,837.887
201709 7,433.159 246.819 10,057.242
201712 7,857.596 246.524 10,644.237
201803 8,890.639 249.554 11,897.412
201806 13,005.026 251.989 17,235.095
201809 14,359.051 252.439 18,995.614
201812 14,700.475 251.233 19,540.638
201903 15,179.818 254.202 19,942.135
201906 17,531.889 256.143 22,857.581
201909 17,418.177 256.759 22,654.844
201912 16,569.641 256.974 21,533.170
202003 16,708.161 258.115 21,617.201
202006 16,926.131 257.797 21,926.226
202009 17,043.629 260.280 21,867.812
202012 18,597.851 260.474 23,844.182
202103 19,137.201 264.877 24,127.827
202106 19,419.253 271.696 23,868.951
202109 22,393.787 274.310 27,262.768
202112 21,470.418 278.802 25,717.495
202203 18,059.131 287.504 20,976.692
202206 17,720.247 296.311 19,971.287
202209 18,418.532 296.808 20,723.517
202212 18,206.963 296.797 20,486.230
202303 18,295.434 301.836 20,242.108
202306 18,482.840 305.109 20,230.086
202309 19,728.012 307.789 21,404.953
202312 19,848.364 306.746 21,608.761
202403 21,129.414 312.332 22,592.018
202406 21,740.506 314.175 23,109.049
202409 22,003.623 315.301 23,305.203
202412 20,602.769 315.605 21,800.465
202503 21,089.071 319.799 22,022.387
202506 21,255.644 322.561 22,006.271
202509 21,554.193 324.800 22,161.533
202512 20,165.298 324.054 20,781.233
202603 20,460.665 330.213 20,692.341
202606 25,170.400 333.952 25,170.400

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

What does a Cyclically Adjusted Book per Share of ₫19,780.09 mean?
Vingroup JSC (STC:VIC) has a Cyclically Adjusted Book per Share of ₫19,780.09 as of Jun. 2026. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on Vingroup JSC and its competitors.
Is Vingroup JSC's Cyclically Adjusted Book per Share too high?
Vingroup JSC's current Cyclically Adjusted Book per Share is ₫19,780.09. Overall, Vingroup JSC has a GF Score™ of 82/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vingroup JSC's Cyclically Adjusted Book per Share compare to CBRE and BEKE?
Vingroup JSC's Cyclically Adjusted Book per Share of ₫19,780.09 can be compared against companies in the Real Estate industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Book per Share for a Real Estate company?
A good Cyclically Adjusted Book per Share depends on the Real Estate industry context. However, Cyclically Adjusted Book per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Book per Share mean?
A high Cyclically Adjusted Book per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on Vingroup JSC and its competitors. Vingroup JSC's current Cyclically Adjusted Book per Share is ₫19,780.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vingroup JSC stock overvalued right now?
Based on GuruFocus' analysis, Vingroup JSC (STC:VIC) is currently considered Significantly Overvalued. The stock's GF Value™ is ₫67,253.43, compared to a current price of ₫241,200.00 — trading 258.6% above its estimated fair value. The current Cyclically Adjusted Book per Share is ₫19,780.09. Vingroup JSC's overall GF Score™ is 82/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Book per Share calculated?
Cyclically Adjusted Book per Share is calculated from a company's financial statements. For Vingroup JSC (STC:VIC), the current Cyclically Adjusted Book per Share is ₫19,780.09 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Vingroup JSC (STC:VIC) Overvalued in 2026?

Based on GuruFocus' analysis, Vingroup JSC stock appears to be overvalued. The current stock price of ₫241,200.00 is trading 258.6% above its estimated GF Value™ of ₫67,253.43. GuruFocus considers Vingroup JSC to be Significantly Overvalued.

Key valuation signals for STC:VIC:

  • Cyclically Adjusted Book per Share: ₫19,780.09
  • GF Value™: ₫67,253.43 vs. price of ₫241,200.00 (258.6% above fair value)
  • GF Score™: 82/100 with 7 warning signs

No single metric tells the full story. See the STC:VIC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vingroup JSC Business Description

Address No. 7, Bang Lang 1 Street, Vinhomes Riverside Ecological Area, Viet Hung Ward, Long Bien District, Hanoi, VNM
Vingroup JSC is a Vietnam-based company engaged in construction and provides retail outlets, commercial offices for lease, residential units for lease and sale. It also carries out investment activities, to provide the management service and to conduct other businesses. The company operates through the segments of Sale of inventory properties, Leasing investment properties and related services, Hospitality, entertainment and other services, Health care and related services, Education services, Retail services, Manufacturing activities, and Others. The company generates the majority of its revenue from Sale of inventory properties including developing and trading apartments and villas at real estate projects of the group.
82GF Score

Get the complete analysis for STC:VIC

Cyclically Adjusted Book per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₫241,200.00
Price
₫67,253.43
GF Value