NHSV forecasts VND 4.9 trillion profit for Sabeco stock

Published on 10/09/2026 at 11:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NHSV sees VND 4.9 trillion profit in 2026, 6.3 percent above target. For Sabeco stock this means gross margin reached 38.70 percent in the second quarter.

Key points in brief

NHSV forecasts VND 4.9 trillion in Sabeco profit for 2026, 6.3 percent above the company target.
Sabeco reported VND 13.3 trillion in first-half 2026 revenue, up 5.8 percent year over year.
Gross margin reached 38.70 percent in the second quarter, while net profit fell 3.00 percent year over year.
The HOSE quote stood at VND 42,900.00 on October 9, 2026, down 0.23 percent from the prior close.

Sabeco, VN000000SAB4, Illustration mit AI erstellt.

NH Securities Vietnam forecast VND 4.9 trillion in Sabeco profit for 2026 on September 28, 2026, which is 6.3 percent above the brewer's own VND 4.609 trillion target, as Vinetur reported. Sabeco stock stood at VND 42,900.00 on HOSE on October 9, 2026, down 0.23 percent from the prior close of VND 43,000.00.

Three earnings signals in 2026

On June 30, 2026, Sabeco's half-year results showed revenue of VND 13.345 trillion, up 5.8 percent from the same period a year earlier. Net profit reached VND 2.489 trillion, a 21.4 percent increase, according to Tin nhanh chung khoan.

On September 21, 2026, the same report highlighted VND 20.729 trillion in cash and equivalents as of June 30, 2026, against VND 367.2 billion in borrowings. The balance sheet gives Sabeco room to maintain its planned 50.00 percent cash dividend while limiting reliance on debt.

On September 28, 2026, NHSV's forecast put expected annual profit 6.3 percent above the company's target, but its VND 27.0 trillion revenue estimate was below Sabeco's VND 28.316 trillion revenue target, as Vinetur reported. That gap makes margin performance more important than headline sales growth.

What does margin recovery mean?

Sabeco's gross margin reached 38.70 percent in the second quarter of 2026, compared with 34.20 percent in the first half of 2025, according to Tin nhanh chung khoan. The improvement supports NHSV's view that profit can grow faster than revenue, although the forecast remains an estimate rather than company guidance.

Two dates for the loan position

Sabeco's subsidiary Saigon Beer Alcohol Beverage Corporation faces repayment dates of October 26, 2026 and December 2, 2026 for two internal loans, with the related amounts reported at VND 342 billion and VND 177 billion, respectively, by Tuoi Tre. The dates add a defined balance-sheet item to the broader earnings picture.

HOSE quote stays below yearly high

The HOSE quote stood at VND 42,900.00 on October 9, 2026 at 2:45 p.m. GMT+7, versus a 52-week range of VND 42,050.00 to VND 57,100.00. Market capitalization was VND 55.0 trillion on the same date, while the stock's year-to-date performance was minus 12.45 percent.

Sabeco's earnings profile therefore combines a 21.4 percent first-half profit increase with a 6.3 percent analyst premium to the company's annual profit target. The share price remains 24.91 percent below its 52-week high, leaving margin delivery and cash deployment as the clearest company-specific figures for the next phase.

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