Masan stock: Masan reports VND 3,671 billion Q3 profit. VCBS targets Masan stock at VND 118,100

Published on 10/24/2026 at 01:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nine-month revenue hit VND 89,118 billion, up 52.70 percent year over year. A VND 107.3 trillion market cap valued Masan stock on October 23, 2026.

Earnings and valuation context

Masan reported VND 3,671 billion in third-quarter profit on October 22, 2026.
Nine-month revenue reached VND 89,118 billion, up 52.70 percent year over year.
VCBS maintained a VND 118,100 target for Masan on October 7, 2026.

Masan, VN000000MSN4, Illustration mit AI erstellt.

Masan (VN000000MSN4) reported third-quarter net profit after minority interests of VND 3,671 billion on October 22, 2026, three times the year-earlier figure, according to Vietnam.vn. The result came with nine-month profit of VND 8,042 billion, up 3.10 times year over year.

Three events shape the stock story

On October 5, 2026, Masan High-Tech Materials sought approval for a private placement representing 5.00 percent, as listed by Zonebourse. On October 7, 2026, Vietcombank Securities maintained its buy recommendation and VND 118,100 target for Masan, according to BNEWS. The October 22 results were the latest event, with nine-month profit before minority interests reaching VND 10,325 billion.

Revenue growth changes the picture

Masan's nine-month net revenue reached VND 89,118 billion, up 52.70 percent from the same period in 2025. The figure exceeded the company's adjusted 2026 baseline profit plan after nine months, giving the report a measurable benchmark beyond the quarterly result. Masan High-Tech Materials added Q3 revenue of VND 14,557 billion, 7.10 times the year-earlier level, while WinCommerce generated Q3 revenue of VND 12,775 billion, up 21.20 percent, according to Vietnam.vn.

What does the profit mean?

The balance-sheet signal also improved. Masan's net debt-to-EBITDA ratio fell from 2.40 times in the second quarter of 2026 to 2.00 times in the third quarter, while WinCommerce's Q3 profit before minority interests rose 86.00 percent to VND 325 billion. These figures connect faster growth with lower reported leverage and stronger retail profitability.

Stock valuation after the results

On HOSE, Masan stock closed at VND 74,200 on October 23, 2026. Its market capitalization stood at VND 107.3 trillion on the same date, while the VND 118,100 VCBS target cited on October 7, 2026 remains a separate analyst valuation reference.