Vinh Hoan Corporation is the leading pangasius enterprise in Vietnam with an export proportion of more than 15% of the country’s total pangasius export turnover.In 2022, the pangasius industry achieved an export record with a total value of 2.4 billion USD. Based on the FCFF and PE methods, we update the target price of VHC at VND 72,700 due to concerns about the decline of the main export market, the US, which is partly offset by the China market when this country reopened and gross profit margin fell. However, Vinh Hoan still has sustainable prospects worth considering such as: (1) Zero-Waste strategy to improve profit margin; (2) Increase revenue by investing in new technology and encroaching on agriculture.
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