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Thang Long Investment GroupHSTC:TIG -1.69%81 Owner Earnings per Share (TTM) is 2,539.79 as of Mar. 2026, which is 105725% above its 10-year median of 2.40. GuruFocus rates HSTC:TIG with a GF Score™ of 81/100 and a GF Value™ of ₫7,463.35 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 369 Asset Management companies, Thang Long Investment Group ranks better than 91.06% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Thang Long Investment Group's Owner Earnings per Share (TTM) ended in Mar. 2026 was ₫2,539.79. It's Price-to-Owner-Earnings ratio for today is 2.28.
The historical rank and industry rank for Thang Long Investment Group's Owner Earnings per Share (TTM) or its related term are showing as below:
HSTC:TIG'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 0.87 Med: 2.4 Max: 13.17
Current: 2.28
HSTC:TIG's Price-to-Owner-Earnings is ranked better than 91.06% of 369
companies
in the Asset Management industry
Industry Median: 10.86
vs HSTC:TIG: 2.28
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Thang Long Investment Group Owner Earnings per Share (TTM) Related Terms
Thang Long Investment Group Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Thang Long Investment Group's Owner Earnings per Share (TTM) 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.
Thang Long Investment Group Owner Earnings per Share (TTM) Chart
HSTC:TIG vs BLK, BX, KKR: Owner Earnings per Share (TTM) Comparison
For the Asset Management subindustry, Thang Long Investment Group's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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.
Thang Long Investment Group Price-to-Owner-Earnings vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Thang Long Investment Group's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Thang Long Investment Group's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Thang Long Investment Group's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2026 was ₫0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = ₫190,096 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Thang Long Investment Group's 5-Year Average Maintenance Capital Expenditure = ₫190,096 Mil
5. "Change In Working Capital" is from cashflow statement. Thang Long Investment Group's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2026 was ₫547,718 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* 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.
What does a Owner Earnings per Share (TTM) of 2,539.79 mean?
Thang Long Investment Group (HSTC:TIG) has a Owner Earnings per Share (TTM) of 2,539.79 as of Mar. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Thang Long Investment Group. This is 105725% above median its historical median of 2.40. Over the past decade, Thang Long Investment Group's Owner Earnings per Share (TTM) has ranged from 0.87 to 13.17. According to the industry distribution chart, Thang Long Investment Group ranks #33 out of 369 companies in the Asset Management industry, placing it in the top 8.9%.
Is Thang Long Investment Group's Owner Earnings per Share (TTM) too high?
Thang Long Investment Group's current Owner Earnings per Share (TTM) of 2,539.79 is 105725% above median its 10-year median of 2.40. Over the past 10 years, this metric has ranged from a low of 0.87 to a high of 13.17. The Asset Management industry median Owner Earnings per Share (TTM) is 10.86. Thang Long Investment Group's value of 2,539.79 is 23286.6% above this industry median. Based on the distribution chart, Thang Long Investment Group ranks #33 out of 369 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Thang Long Investment Group has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thang Long Investment Group's Owner Earnings per Share (TTM) compare to BLK and BX?
According to the Asset Management industry distribution chart, Thang Long Investment Group ranks #33 out of 369 companies for Owner Earnings per Share (TTM). This places Thang Long Investment Group in the top 9% of its industry — outperforming the majority of peers. The industry median Owner Earnings per Share (TTM) is 10.86. Thang Long Investment Group's value of 2,539.79 is 23286.6% above this benchmark. Historically, Thang Long Investment Group's own Owner Earnings per Share (TTM) has ranged from 0.87 to 13.17 over the past decade. While the company's 10-year median is 2.40 vs. the industry median of 10.86, Thang Long Investment Group 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 Owner Earnings per Share (TTM) for an Asset Management company?
The median Owner Earnings per Share (TTM) among Asset Management companies is 10.86, based on 369 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thang Long Investment Group's current Owner Earnings per Share (TTM) of 2,539.79 is 23286.6% 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 Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Thang Long Investment Group. For the Asset Management industry, the median Owner Earnings per Share (TTM) is 10.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thang Long Investment Group's current Owner Earnings per Share (TTM) is 2,539.79, which is 105725% above median its own 10-year median of 2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thang Long Investment Group stock overvalued right now?
Based on GuruFocus' analysis, Thang Long Investment Group (HSTC:TIG) is currently considered Modestly Undervalued. The stock's GF Value™ is ₫7,463.35, compared to a current price of ₫5,800.00 — trading 22.3% below its estimated fair value. The current Owner Earnings per Share (TTM) is 2,539.79, which is 105725% above median its 10-year median of 2.40 and 23286.6% above the Asset Management industry median of 10.86. Thang Long Investment Group's overall GF Score™ is 81/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Thang Long Investment Group (HSTC:TIG), the current Owner Earnings per Share (TTM) is 2,539.79 as of Mar. 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 Thang Long Investment Group (HSTC:TIG) Overvalued in 2026?
Based on GuruFocus' analysis, Thang Long Investment Group stock appears to be undervalued.
The current stock price of ₫5,800.00 is trading 22.3% below its estimated GF Value™ of ₫7,463.35.
GuruFocus considers Thang Long Investment Group to be Modestly Undervalued.
Key valuation signals for HSTC:TIG:
Owner Earnings per Share (TTM): 2,539.79 (105725% above median its 10-year median of 2.40)
GF Value™: ₫7,463.35 vs. price of ₫5,800.00 (22.3% below fair value)
Industry Position: 23286.6% above the Asset Management median (#33 of 369)
No single metric tells the full story. See the HSTC:TIG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thang Long Investment Group is an investment company. The company operates in the field of Real Estate, where the company has managed and owned projects. The distribution field deals with the distribution of household products such as electronics and home appliances in Vietnam, and the Retail field owns and develops electric bicycle chain stores and also distributes building materials for civil construction works and transport infrastructure. It is also involved in other sectors such as tourism, trading, and communication services in Vietnam. The Company is organized into three separate business segments, including: real estate operations, trading activities, and Provision of other services.
81GF Score
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