NHSV forecasts VND 4.90 trillion profit for Sabeco stock

Published on 10/13/2026 at 09:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sabeco earned VND 2.49 trillion in first-half profit, up 21.40 percent year over year. Sabeco stock has a VND 55,555 target for 2026.

Key points in brief

NHSV forecast VND 4.90 trillion in Sabeco net profit for 2026.
Sabeco reported VND 2.49 trillion in first-half net profit, up 21.40 percent year over year.
Second-quarter gross margin reached 38.70 percent, while net profit declined 3.00 percent year over year.
Sabeco's 2026 plan includes a 50.00 percent cash dividend payout.

Sabeco, VN000000SAB4, Illustration mit AI erstellt.

Sabeco stock (ISIN VN000000SAB4) is tied to an NHSV forecast of VND 4.90 trillion in 2026 net profit, published on September 28, 2026. Bao Phap Luat Viet Nam reported that the estimate exceeds Sabeco's 2026 net profit target of VND 4.61 trillion. The forecast puts earnings growth ahead of the revenue outlook.

Three reports sharpen the earnings picture

On September 21, 2026, Sabeco's first-half net revenue stood at VND 13.35 trillion, up 5.80 percent year over year, while net profit reached VND 2.49 trillion, up 21.40 percent. Tin nhanh chung khoan also reported a gross margin increase from 34.20 percent to 38.00 percent.

On September 23, 2026, another industry review put Sabeco's first-half revenue at VND 13.35 trillion, up 6.00 percent, and net profit at VND 2.35 trillion, up 17.50 percent. Thuong Truong said higher selling expenses remained a counterweight, rising 20.00 percent to VND 2.06 trillion.

What does the margin mean?

For the second quarter of 2026, gross margin reached 38.70 percent, its highest level in several years, but net profit fell 3.00 percent year over year to VND 1.17 trillion. Bao Phap Luat Viet Nam attributed the earnings decline mainly to higher selling expenses. The combination matters because pricing and input costs improved gross profitability, while marketing and promotion costs limited the conversion into net income.

Cash supports the payout plan

At June 30, 2026, Sabeco held VND 20.73 trillion in cash and cash equivalents, while borrowings stood at VND 367.20 billion. Tin nhanh chung khoan reported that the company planned a 50.00 percent cash dividend payout for 2026. The balance sheet gives Sabeco room to fund operations and distributions while the earnings mix remains uneven.

NHSV target adds a valuation reference

NHSV set a VND 55,555.00 target for SAB in its September 2026 analysis, alongside its VND 4.90 trillion profit forecast. The report's framework combined earnings multiples with a dividend discount approach, making the target dependent on both profit delivery and the durability of Sabeco's payout policy.

Sabeco remains a VN30 listing

Sabeco is listed on the Ho Chi Minh Stock Exchange under ticker SAB and belongs to the VN30 index. The company operates in Vietnam's beer, alcohol and beverage market, while its 2026 financial picture combines stronger first-half profitability with continued pressure from selling expenses.