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Vietnam Holding
(LSE:VNH)
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Rating:42Neutral
Price Target:
305.00 p
▼(-11.21% Downside)
Action:Downgraded
Date:03/12/26
The score is held down primarily by highly volatile earnings and cash flows, including a downturn to losses and negative free cash flow in 2025. Technicals add additional pressure with bearish trend signals (price below key moving averages and negative MACD). The balance sheet provides a stabilizing positive with zero debt, but the negative P/E and lack of dividend yield data limit valuation support.
Positive Factors
Conservative balance sheet (zero debt)
Zero reported debt materially lowers financial risk and gives the fund flexibility to hold through market drawdowns. Over the medium term this preserves optionality for managers to avoid forced asset sales, reduces fixed financing costs, and supports NAV resilience versus leveraged peers.
Negative Factors
Earnings volatility and recent loss
Sharp swings from large profits to losses reduce earnings predictability and complicate capital planning. Persistent volatility undermines confidence in recurring returns, limits dividend reliability, and increases execution risk for strategies relying on steady NAV growth over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet (zero debt)
Zero reported debt materially lowers financial risk and gives the fund flexibility to hold through market drawdowns. Over the medium term this preserves optionality for managers to avoid forced asset sales, reduces fixed financing costs, and supports NAV resilience versus leveraged peers.
Read all positive factors
Vietnam Holding (VNH) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£60.77M
Dividend YieldN/A
Average Volume (3M)43.73K
Price to Earnings (P/E)12.0
Beta (1Y)0.59
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.37
Shares Outstanding18,444,483
10 Day Avg. Volume9,172
30 Day Avg. Volume43,733
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)0.98
Price to Sales (P/S)5.83
P/FCF Ratio-51.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Vietnam Holding Business Overview & Revenue Model
Company Description
VietNam Holding Limited is a closed-end equity investment vehicle, overseen by Vietnam Holding Asset Management Ltd. The fund's objective is to allocate capital to publicly listed companies across diverse sectors within Vietnam's equity markets. I...
How the Company Makes Money
Vietnam Holding makes money by operating as an investment fund rather than by selling products or services. Its primary economic driver is the performance of its investment portfolio: if the market value of its equity holdings rises and/or those h...
Vietnam Holding Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.76M | 19.74M | 30.99M | -4.81M | -3.40M | 103.98M |
| Gross Profit | 30.51M | 16.89M | 30.99M | -4.81M | -3.40M | 103.98M |
| EBITDA | -5.85M | -3.02M | 26.80M | -8.62M | -7.72M | 100.16M |
| Net Income | 7.73M | -3.02M | 26.52M | -8.62M | -7.72M | 100.15M |
Balance Sheet | ||||||
| Total Assets | 107.66M | 118.53M | 140.39M | 116.19M | 129.18M | 200.42M |
| Cash, Cash Equivalents and Short-Term Investments | 5.75M | 4.53M | 2.89M | 1.75M | 8.16M | 6.03M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.22M | 818.16K | 239.81K | 931.86K | 355.28K | 4.34M |
| Stockholders Equity | 106.43M | 117.71M | 140.15M | 115.26M | 128.82M | 196.08M |
Cash Flow | ||||||
| Free Cash Flow | 22.56M | -2.22M | 3.30M | -1.35M | 61.74M | 24.83M |
| Operating Cash Flow | 22.56M | -2.22M | 3.30M | -1.35M | 61.74M | 24.83M |
| Investing Cash Flow | 4.09M | 25.03M | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -26.06M | -20.86M | -1.88M | -4.69M | -59.54M | -21.36M |
Vietnam Holding Technical Analysis
Negative
343.50
Price Trends
329.06
Positive
341.85
Negative
360.72
Negative
Market Momentum
2.35
Positive
42.79
Neutral
43.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:VNH, the sentiment is Negative. The current price of 343.5 is above the 20-day moving average (MA) of 336.40, above the 50-day MA of 329.06, and below the 200-day MA of 360.72, indicating a neutral trend. The MACD of 2.35 indicates Positive momentum. The RSI at 42.79 is Neutral, neither overbought nor oversold. The STOCH value of 43.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:VNH.
Vietnam Holding Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | £17.29M | 4.76 | 23.41% | ― | 543.02% | 30.22% | |
52 Neutral | £115.72M | -13.55 | -4.78% | 3.53% | -2.25% | -350.00% | |
44 Neutral | £2.55M | -5.91 | -17.10% | 1.86% | ― | 68.42% | |
43 Neutral | £8.94M | -10.00 | -9.96% | ― | ― | 7.69% | |
42 Neutral | £60.77M | 12.02 | 6.90% | ― | ― | ― |
* Financial Sector Average
GB:VNH
Vietnam Holding
329.50
-73.50
-18.24%
GB:TRUE
Braveheart Investment
3.25
1.15
54.76%
GB:MERC
Mercia Asset Management
27.50
-4.02
-12.75%
GB:MILA
Mila Resources
1.20
0.48
65.52%
GB:MAFL
Mineral & Financial Investments
44.50
16.50
58.93%
Vietnam Holding Corporate Events
Regulatory Filings and Compliance
VietNam Holding Updates Market on Total Voting Rights
Neutral
Aug 3, 2026
VietNam Holding Limited has disclosed its current voting rights position in line with FCA transparency requirements, confirming that as of 31 July 2026 it has 18,488,105 ordinary shares in issue with voting rights and 1,053,261 shares held in trea...
Business Operations and StrategyFinancial Disclosures
VietNam Holding Sees Vietnam’s Economic Strength Undervalued by Equity Markets
Positive
Jul 27, 2026
VietNam Holding’s manager reports that Vietnam’s economy continues to show robust momentum, with GDP growth accelerating, exports and retail sales rising, and foreign direct investment hitting record levels. Major institutions such as ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
VietNam Holding Continues Share Buybacks to Support Investor Value
Positive
Jul 13, 2026
VietNam Holding Limited has continued its share buyback programme, purchasing 16,747 ordinary shares on 10 July 2026 at an average price of 335.25 pence, leaving 18,488,105 voting shares in issue and 1,053,261 shares held in treasury. Since its la...
Business Operations and Strategy
Vietnam Holding chair Craig Martin to appear on QuotedData investment companies show
Positive
Jul 2, 2026
QuotedData’s weekly investment companies show will feature Craig Martin of Vietnam Holding as the special guest on 3 July 2026, with host James Carthew and sector commentator Andrew McHattie discussing recent news and June’s market eve...
Regulatory Filings and Compliance
VietNam Holding Updates Market on Total Voting Rights
Neutral
Jul 1, 2026
VietNam Holding Limited has reported that as of 30 June 2026 it has 18,504,852 ordinary shares in issue carrying voting rights, alongside 1,036,514 shares held in treasury. The total voting rights in the company stand at 18,504,852, a figure share...
Business Operations and StrategyFinancial Disclosures
VietNam Holding flags resilient Vietnam growth and eyes FTSE upgrade as catalyst
Positive
Jun 26, 2026
VietNam Holding Limited has issued its monthly investor report for May 2026, highlighting Vietnam’s robust economic momentum despite a turbulent global backdrop. The investment manager points to strong GDP growth, double-digit retail sales, ...
Business Operations and StrategyFinancial Disclosures
Vietnam Holding marks 20 years as Vietnam growth potential stays strong
Positive
Jun 17, 2026
Vietnam Holding Limited has marked its 20th anniversary, highlighting that its long-term investment strategy in Vietnam has outperformed local benchmarks despite recent headwinds for quality growth and ESG-focused stocks. The company notes that po...
Business Operations and StrategyStock Buyback
VietNam Holding Continues Share Buybacks to Support Capital Management
Positive
Jun 15, 2026
VietNam Holding Limited has continued its share buyback programme, purchasing 50,000 ordinary shares at an average price of 338 pence on 12 June 2026. Following this transaction, the company has 18,504,852 voting shares in issue and holds 1,036,51...
Business Operations and StrategyStock Buyback
VietNam Holding Expands Share Buyback, Tightening Free Float
Positive
Jun 8, 2026
VietNam Holding Limited has repurchased 65,790 of its own ordinary shares at an average price of 347.5 pence per share, as part of its ongoing share buyback activity. Following this latest transaction, the company now has 18,554,852 ordinary share...
Regulatory Filings and Compliance
VietNam Holding Updates Market on Total Voting Rights
Neutral
Jun 1, 2026
VietNam Holding Limited has reported that, as of 29 May 2026, it has 18,620,642 ordinary shares in issue carrying voting rights and a further 920,724 shares held in treasury without voting rights. The disclosure clarifies that the total voting rig...
Other
Discover Investment Increases Stake in Vietnam Holding
Positive
Jun 1, 2026
Vietnam Holding Limited reported that Discover Investment Company has purchased an additional 30,000 ordinary shares at 3.49 pence each on 29 May 2026, bringing its total holding to 625,776 shares, or 3.36% of the company’s issued share capi...
Business Operations and StrategyStock Buyback
VietNam Holding Expands Share Buyback, Lifts Treasury Stock to Over 920,000 Shares
Positive
Jun 1, 2026
VietNam Holding Limited has continued its capital management programme by repurchasing 67,351 of its own ordinary shares on 29 May 2026 at an average price of 352.5 pence per share. Following this transaction, the company has 18,620,642 ordinary s...
Business Operations and StrategyFinancial Disclosures
VietNam Holding Navigates Hotter Vietnamese Markets With Large‑Cap Tilt
Positive
May 26, 2026
VietNam Holding’s April investor report highlights a resilient Vietnamese economy, with Q1 2026 GDP growth of 7.83%, robust trade, and double‑digit retail sales gains, supported by strong foreign direct investment despite rising inflat...
Business Operations and StrategyStock Buyback
VietNam Holding Expands Share Buyback Programme
Positive
May 26, 2026
VietNam Holding Limited has continued its share buyback programme, purchasing 93,860 ordinary shares on 22 May 2026 at an average price of 356 pence per share. Following this transaction, the company has 18,687,993 ordinary shares with voting righ...
Business Operations and StrategyStock Buyback
VietNam Holding Expands Share Buyback, Tightening Free Float
Positive
May 18, 2026
VietNam Holding Limited has repurchased 73,036 of its own ordinary shares at an average price of 364.75 pence per share, as part of its ongoing share buyback programme. Following this latest transaction, the company now has 18,781,853 ordinary sha...
Business Operations and StrategyStock Buyback
VietNam Holding Extends Share Buyback, Reaching Over 400,000 Shares Since AGM
Positive
May 5, 2026
VietNam Holding Limited has repurchased 44,246 of its own ordinary shares at an average price of 363 pence per share, leaving 18,854,889 shares with voting rights in issue and 686,477 shares held in treasury. Since its last Annual General Meeting,...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.