Investment Value :

- Plowback rate 8,275%
- Capitalization rate common: 6,086%
- π dividend cash flow - common: 1744,8 VND/per share 

Intrinsic value = growing period 5 years
V5 = π . ω . (ω^5 - 1 )/(ω-1) = 1744,8 . 5,312 = 8,724 VND/share

Intrinsic Value - maturity period
V =  π / i = 1744,8/0,06086 ~ 28,700 VND/share
=&gt; Adjusted Intrinsic Value - V= 1/3 . π / i = 28,700/3 ~ 9,500 VND/share
=&gt; Adjusted Intrinsic Value than twice book value (non-dividend)
       -  Adjusted Intrinsic Value =  1/3 . π / i - (1/3 . π / i - 2 . book value)/4
                                                   =  9500      -  (9500     - 2 . 1541)/4
                                                   =  9500      -        1,604.5
                                                   =   7895.5 VND/share
=&gt; Adjusted Intrinsic Value of range: 7895.5 ~ 8,724 VND/share
Margin of safety : 41% =&gt; 47% &#129393;



Investment Value :

- Plowback rate 8,275%
- Capitalization rate common: 6,086%
- π dividend cash flow - common: 1744,8 VND/per share 

Intrinsic value = growing period 5 years
V5 = π . ω . (ω^5 - 1 )/(ω-1) = 1744,8 . 5,312 = 8,724 VND/share

Intrinsic Value - maturity period
V =  π / i = 1744,8/0,06086 ~ 28,700 VND/share
=> Adjusted Intrinsic Value - V= 1/3 . π / i = 28,700/3 ~ 9,500 VND/share
=> Adjusted Intrinsic Value than twice book value (non-dividend)
       -  Adjusted Intrinsic Value =  1/3 . π / i - (1/3 . π / i - 2 . book value)/4
                                                   =  9500      -  (9500     - 2 . 1541)/4
                                                   =  9500      -        1,604.5
                                                   =   7895.5 VND/share
=> Adjusted Intrinsic Value of range: 7895.5 ~ 8,724 VND/share
Margin of safety : 41% => 47% 🥱

