Vingroup JSC (STC:VIC) Cyclically Adjusted PB Ratio: 15.80 (As of Jul. 16, 2026) — 280% Above Median

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Director of Data and Quant Analytics at GuruFocus
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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 ₫217,000.00
GF Value ₫59,941.02
Valuation Significantly Overvalued
! 10 Warning Signs
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What is Vingroup JSC Cyclically Adjusted PB Ratio?

Vingroup JSC STC:VIC 82 Cyclically Adjusted PB Ratio is 15.80 as of Jul. 16, 2026, which is 280% above its 10-year median of 4.16. GuruFocus rates STC:VIC with a GF Score™ of 82/100 and a GF Value™ of ₫59,941.02 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 1,437 Real Estate companies, Vingroup JSC ranks worse than 98.96% on this metric.

As of today (2026-07-16), Vingroup JSC's current share price is ₫217000.00. Vingroup JSC's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ₫13,735.22. Vingroup JSC's Cyclically Adjusted PB Ratio for today is 15.80.

The historical rank and industry rank for Vingroup JSC's Cyclically Adjusted PB Ratio or its related term are showing as below:

STC:VIC' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.77   Med: 4.16   Max: 16.6
Current: 16.24

During the past years, Vingroup JSC's highest Cyclically Adjusted PB Ratio was 16.60. The lowest was 1.77. And the median was 4.16.

STC:VIC's Cyclically Adjusted PB Ratio is ranked worse than
98.96% of 1437 companies
in the Real Estate industry
Industry Median: 0.71 vs STC:VIC: 16.24

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 adjusted book value per share data for the three months ended in Mar. 2026 was ₫19,766.632. 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 ₫13,735.22 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Vingroup JSC  (STC:VIC) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Vingroup JSC Cyclically Adjusted PB Ratio Related Terms


Vingroup JSC Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Vingroup JSC's Cyclically Adjusted PB Ratio 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 PB Ratio Chart

Vingroup JSC Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.04 3.29 2.30 1.78 12.92

Vingroup JSC Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio 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 2.44 3.88 6.76 12.92 9.83

STC:VIC vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio 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 PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vingroup JSC Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=217000.00/13735.22
=15.80

* 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's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

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

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=19766.632/330.2130*330.2130
=19,766.632

Current CPI (Mar. 2026) = 330.2130.

Vingroup JSC Quarterly Data

Book Value per Share CPI Adj_Book
201606 3,946.615 241.018 5,407.163
201609 3,897.840 241.428 5,331.268
201612 4,160.364 241.432 5,690.241
201703 3,922.850 243.801 5,313.252
201706 4,025.384 244.955 5,426.442
201709 4,133.655 246.819 5,530.314
201712 4,735.495 246.524 6,343.082
201803 4,963.947 249.554 6,568.357
201806 6,271.074 251.989 8,217.780
201809 7,664.135 252.439 10,025.380
201812 7,894.722 251.233 10,376.582
201903 8,090.773 254.202 10,510.061
201906 12,183.047 256.143 15,706.072
201909 10,508.000 256.759 13,514.144
201912 10,468.709 256.974 13,452.349
202003 10,662.144 258.115 13,640.349
202006 11,102.457 257.797 14,221.173
202009 11,204.769 260.280 14,215.308
202012 10,805.935 260.474 13,699.103
202103 11,088.591 264.877 13,823.763
202106 12,164.575 271.696 14,784.542
202109 13,346.860 274.310 16,066.883
202112 13,487.607 278.802 15,974.717
202203 13,750.114 287.504 15,792.707
202206 14,167.968 296.311 15,788.976
202209 14,887.442 296.808 16,562.986
202212 14,796.911 296.797 16,462.877
202303 14,955.064 301.836 16,361.059
202306 15,158.989 305.109 16,406.252
202309 16,440.268 307.789 17,638.025
202312 15,213.884 306.746 16,377.792
202403 17,449.046 312.332 18,448.003
202406 17,387.385 314.175 18,274.976
202409 18,048.371 315.301 18,901.960
202412 18,393.418 315.605 19,244.770
202503 19,338.192 319.799 19,967.925
202506 19,382.288 322.561 19,842.087
202509 19,394.648 324.800 19,717.872
202512 19,642.198 324.054 20,015.519
202603 19,766.632 330.213 19,766.632

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

What does a Cyclically Adjusted PB Ratio of 15.80 mean?
Vingroup JSC (STC:VIC) has a Cyclically Adjusted PB Ratio of 15.80 as of Jul. 16, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Vingroup JSC and its competitors. This is 280% above median its historical median of 4.16. Over the past decade, Vingroup JSC's Cyclically Adjusted PB Ratio has ranged from 1.77 to 16.60. According to the industry distribution chart, Vingroup JSC ranks #1422 out of 1437 companies in the Real Estate industry, placing it in the top 99%.
Is Vingroup JSC's Cyclically Adjusted PB Ratio too high?
Vingroup JSC's current Cyclically Adjusted PB Ratio of 15.80 is 280% above median its 10-year median of 4.16. Over the past 10 years, this metric has ranged from a low of 1.77 to a high of 16.60. The Real Estate industry median Cyclically Adjusted PB Ratio is 0.71. Vingroup JSC's value of 15.80 is 2125.4% above this industry median. Based on the distribution chart, Vingroup JSC ranks #1422 out of 1437 companies in the Real Estate industry, which is in the bottom quartile relative to peers. 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 PB Ratio compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Vingroup JSC ranks #1422 out of 1437 companies for Cyclically Adjusted PB Ratio. This places Vingroup JSC in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.71. Vingroup JSC's value of 15.80 is 2125.4% above this benchmark. Historically, Vingroup JSC's own Cyclically Adjusted PB Ratio has ranged from 1.77 to 16.60 over the past decade. While the company's 10-year median is 4.16 vs. the industry median of 0.71, Vingroup JSC has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Real Estate company?
The median Cyclically Adjusted PB Ratio among Real Estate companies is 0.71, based on 1,437 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Vingroup JSC's current Cyclically Adjusted PB Ratio of 15.80 is 2125.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Vingroup JSC and its competitors. For the Real Estate industry, the median Cyclically Adjusted PB Ratio is 0.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vingroup JSC's current Cyclically Adjusted PB Ratio is 15.80, which is 280% above median its own 10-year median of 4.16. 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 ₫59,941.02, compared to a current price of ₫217,000.00 — trading 262% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 15.80, which is 280% above median its 10-year median of 4.16 and 2125.4% above the Real Estate industry median of 0.71. Vingroup JSC's overall GF Score™ is 82/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Vingroup JSC (STC:VIC), the current Cyclically Adjusted PB Ratio is 15.80 as of Jul. 16, 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 ₫217,000.00 is trading 262% above its estimated GF Value™ of ₫59,941.02. GuruFocus considers Vingroup JSC to be Significantly Overvalued.

Key valuation signals for STC:VIC:

  • Cyclically Adjusted PB Ratio: 15.80 (280% above median its 10-year median of 4.16)
  • GF Value™: ₫59,941.02 vs. price of ₫217,000.00 (262% above fair value)
  • GF Score™: 82/100 with 10 warning signs
  • Industry Position: 2125.4% above the Real Estate median (#1422 of 1437)

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 PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₫217,000.00
Price
₫59,941.02
GF Value