Vincom Retail stock fell 2.31 percent as MBS updated its forecast

Published on 10/08/2026 at 09:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MBS forecasts VND 6,030 billion in 2026 profit and VND 9,767 billion in revenue. Q2 profit reached VND 1,608.5 billion.

Vincom Retail, VN000000VRE6, Illustration mit AI erstellt.

Vincom Retail (ISIN VN000000VRE6) was last at VND 23,250 on HOSE on October 7, 2026, down 2.31 percent, as investors assessed a new MBS forecast for the Vietnamese mall operator. The report puts 2026 revenue at VND 9,767 billion and net profit at VND 6,030 billion.

MBS sees a mixed 2026 outlook

According to 24HMoney, MBS forecasts 2026 revenue of VND 9,767 billion, up 11 percent year over year, followed by VND 13,800 billion in 2027, up 41 percent. The same forecast puts 2026 net profit at VND 6,030 billion, down 6 percent, before a recovery to VND 7,043 billion in 2027, up 17 percent.

The figures point to a near-term earnings reset rather than a simple growth story. MBS also estimates a 2026 forward P/E ratio of 9.9 and a price-to-book ratio of 1.1, while the report describes a five-year expansion plan of 600,000 to 700,000 square meters of gross floor area.

Q2 profit rose faster than revenue

Vincom Retail's Q2 2026 revenue was VND 2,373.9 billion, compared with VND 2,142.6 billion in Q2 2025, a 10.8 percent increase, according to 24HMoney. Net profit reached VND 1,608.5 billion versus VND 1,233.3 billion a year earlier, a 30.4 percent increase.

The margin signal was also stronger than the sales increase. Q2 gross profit rose to VND 1,398.3 billion from VND 1,182.3 billion, while the gross margin reached 58.9 percent compared with 55.2 percent a year earlier. The comparison matters because the MBS forecast expects full-year profit to decline before growth resumes in 2027.

Stock remains below its yearly high

Vincom Retail's last price of VND 23,250 on October 7, 2026, stood above the 52-week low of VND 21,300 and below the 52-week high of VND 41,920. The stock's market capitalization was VND 52.8 trillion on the same date, while trading volume reached 2,708,700 shares.

The company operates shopping malls and retail real estate assets across Vietnam. Its 2024 annual report described 88 malls across 48 cities and provinces, with 1.84 million square meters of retail gross floor area, according to Vincom Retail.

VND 23,250 was the latest price

Vincom Retail was last at VND 23,250 on HOSE on October 7, 2026, at 3:09 p.m. ICT. The dated price, 52-week range and market capitalization frame the stock against the forecast period in which MBS expects weaker 2026 profit followed by renewed growth in 2027.