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REDDIT

Sanity check: is this company too good to be true?

P
Oct 8, 2025 · 07:30

The ticker is HOSE:LHG https://www.msn.com/en-ca/money/stockdetails/lhg-vn-stock/fi-aqjnur?id=aqjnur

The company is a microcap Vietnamese industrial park developer. Revenue comes from leasing out land and ready built factories. It has a p/e of 5 and a p/b of 0.9. Debt is very low. ROE is at 17 percent. Net margin is at around 40 percent. Risks involve a depleting land bank and reduced FDI inflows.

It all seems pretty good to me but FCF is often negative. What method would you use to find its intrinsic value? DCFs don't seem to work well for this company.