NHSV set a VND 55,555 target for Sabeco stock

Published on 10/08/2026 at 12:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sabeco's second-quarter margin reached 38.70 percent in 2026. NHSV forecasts VND 4.90 trillion profit for Sabeco stock.

Sabeco, VN000000SAB4, Illustration mit AI erstellt.

Sabeco (VN000000SAB4) had a VND 55,555 valuation target set by Vietnam-based securities firm NHSV on September 28, 2026, giving the stock a concrete earnings benchmark. According to Bao Phap Luat on September 28, 2026, the target was based on a forecast of VND 4,900 billion in 2026 net profit.

Margin improves in second quarter

Sabeco's second-quarter 2026 net revenue reached VND 6,888 billion, up 1.00 percent from the same quarter of 2025. Gross margin rose to 38.70 percent, its highest level in several years, while net profit fell 3.00 percent year over year to VND 1,167 billion.

The combination matters for investors because stronger gross profitability did not fully reach the bottom line. Selling expenses increased sharply, leaving cost control as the key counterweight to the margin improvement.

First-half profit beats the plan pace

According to Nodudo, Sabeco's first-half 2026 net profit rose 21.40 percent year over year to VND 2,489 billion. Net profit attributable to the parent company reached VND 2,352 billion, up 17.50 percent, while beer revenue rose 6.80 percent to VND 12,624 billion.

The first-half result represented 50.40 percent of Sabeco's full-year net profit target. NHSV's VND 4,900 billion forecast is VND 291 billion above the company's VND 4,609 billion target, a 6.32 percent difference based on the company plan.

Cash and costs shape the next test

Bao Phap Luat reported that NHSV estimated Sabeco's net cash at more than VND 20,000 billion at the end of the second quarter of 2026. The balance supports marketing and operations, but it does not remove the pressure from rising selling expenses.

NHSV forecast 2026 revenue of VND 27,000 billion, 4.66 percent below Sabeco's VND 28,316 billion company target. The gap between the revenue forecast and the plan contrasts with the higher profit forecast, highlighting the importance of margin protection rather than sales growth alone.

Sabeco's targets set the next benchmark

Sabeco is listed on the Ho Chi Minh Stock Exchange under ticker SAB. Its 2026 plan calls for VND 28,316 billion in revenue and VND 4,609 billion in net profit, while the NHSV forecast points to VND 4,900 billion in profit for the same fiscal year.