AMS

Công ty Cổ phần Cơ khí Xây dựng AMECC

VietnamConsumerHàng & Dịch vụ Công nghiệpTư vấn & Hỗ trợ Kinh doanhUPCOMCT

7.100

VND · Close 3 Nov 2026

Calibrated intrinsic value vs last close

Illustrative estimate

Comparison requires review

+11.9%Calibrated value vs last close

Last close (VND): 7.100
Calibrated intrinsic value (VND): 7.942

Last close × (1 + calibrated gap / 100)

Earnings-capitalised value

Not available: the company reported a loss last year or its shares have too short a price history.

How it is calculated

1
Measure the gap
Between the model and the last close.
2
Check the record2015–2024
What gaps of that size went on to earn over the following year.
3
Apply to the close
That return is applied to the last close.

Keep in mind

For illustration only: not a validated forecast.
No uncertainty range: the estimate is a single figure.
Older record: it has not been re-measured on the current data.

Why it needs review

Trading liquidity is below the comparison threshold.

This estimate remains visible for checking its calculation. Its inputs require review before using it in a stock comparison. The model comparison behind this value needs review. The estimate does not remove the data limitations listed above.

Comparison assessed 3 Nov 2026Valid through 3 Dec 2026

Model reliability: Low; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: Not assessed; A separate peer-outperformance probability is unavailable for this valuation.

Assessed 30 Oct 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

Published filingsValued 30 Oct 2026Anchored to close on 3 Nov 2026Recalculated when the displayed close changes.

Valuation Breakdown

CT→Tư vấn & Hỗ trợ Kinh doanh→Consumer

Classified as consumer because ICB sector “Tư vấn & Hỗ trợ Kinh doanh” maps to the consumer group.

ModelFCF-Based DCF

Intrinsic = 70% x DCF Value + 30% x (Fair P/E x EPS)

A Discounted Cash Flow model built on Free Cash Flow (FCF), the cash a business generates after operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted to today's value using WACC. The DCF value is blended 70/30 with a value from the company's own historical P/E.

Technical details

Why this model

Consumer staples/retail generate steady, predictable free cash flows, making them ideal for DCF. The time value of money principle means a dollar today is worth more than a dollar tomorrow. DCF captures this by discounting future cash flows at a rate reflecting the investment's risk (WACC).

How it works

Takes 3-year median FCF as the base. Estimates growth via ROIC x reinvestment rate (Damodaran framework), falling back to historical revenue growth. Projects 10 years with decay toward the sector's long-run growth rate. Discounts at CAPM-derived WACC. Blends 70% of the DCF value with 30% of a P/E value: the company's 5-year median P/E, held between 5x and 25x, times EPS.

Best for

Stable consumer businesses (food, beverage, retail, healthcare) with predictable, positive free cash flows.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.36%

Betasector default

1.000

ERP

4.38%

CRP

2.75%

Cost of Equity (Ke)

11.49%

E/(D+E)

35.59%

Kd(1-t)

5.62%

D/(D+E)

64.41%

WACC

10.00%

Growth Estimate

fundamental firm blend4.82%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→109.14B

Projection years→10

Valuation

We take the model’s gap to the last close, read what gaps of that size went on to earn over the following year in our 2015 to 2024 record, and apply that to the last close.

Last close (VND)→7.100

Calibrated value vs last close→+11.9%

Last close × (1 + calibrated gap / 100)

Calibrated intrinsic value (VND)

7.942

What feeds each step— click a source to highlight it in the statements

Discount rate (WACC)10.00%

Growth rate4.82%growth method: fundamental firm blend

Base cash flow109.1 tỷone off strip ratio: 0

DCF Sensitivity

Illustrative calibrated values from the standalone DCF scenarios below, anchored to the same last close. These scenarios leave out the other parts of a blended model and do not reproduce the headline value.

WACC \ Growth	1.8%	3.3%	4.8%	6.3%	7.8%
8.0%	7.959	7.959	8.143	8.291	8.291
9.0%	7.198	7.198	7.584	7.584	7.942
10.0%	N/A	N/A	N/A	5.603	7.198
11.0%	N/A	N/A	N/A	N/A	N/A
12.0%	N/A	N/A	N/A	N/A	N/A

Above market priceBelow market priceCurrent estimate

AMS among Consumer

Every stock in the sector, AMS marked: calibrated gap vs close across, market value up, model reliability into the board

Each bead is one valued stock in the sector; the amber bead with its stem is AMS. Drag to turn; open another stock from its bead.

Feeds valuation:Cost of capitalGrowthModel inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
CURRENT ASSETS (Bn. VND)	·	2,733	2,201	2,370	1,970	1,460	1,864	1,581	1,079	699	512	635	342	330
Cash and cash equivalents (Bn. VND)Net debt bridge	·	431	186	220	186	78	265	209	73	32	35	50	21	11
Short-term investments (Bn. VND)Net debt bridge	·	138	81	47	93	54	52	115	45	6	3	15	0	0
Accounts receivable (Bn. VND)	·	966	906	1,161	691	489	566	436	539	387	279	246	120	122
Prepayments to suppliers (Bn. VND)	·	91	76	87	112	82	54	97	62	31	23	37	3	4
Net Inventories	·	1,130	993	923	969	813	952	792	420	272	194	317	189	183
Inventories, Net (Bn. VND)	·	1,130	993	929	969	813	952	792	420	272	194	317	189	183
Other current assets	·	68	34	19	31	26	29	29	1	1	2	7	13	15
Other current assets (Bn. VND)	·	0	0	0	0	0	0	0	0	0	0	0	11	13
LONG-TERM ASSETS (Bn. VND)	·	1,179	1,077	980	809	706	519	436	254	232	235	213	194	180
Long-term trade receivables (Bn. VND)	·	25	23	5	5	5	3	2	0.9	0.9	0.2	0.1	0	0
Other long-term receivables (Bn. VND)	·	25	23	5	5	5	3	2	0.9	0.9	0.2	0.1	0	0
Fixed assets (Bn. VND)	·	792	618	532	495	394	283	246	234	213	212	201	185	178
Tangible fixed assets	·	385	240	229	315	252	173	178	176	151	170	156	130	133
Leased assets	·	375	346	270	146	107	73	33	22	25	4	6	6	0
Intagible fixed assets	·	33	32	33	35	35	36	35	36	37	38	39	39	40
Long-term investments (Bn. VND)	·	250	242	249	181	201	171	168	12	13	13	7	7	0.2
Investments in associate companies	·	80	78	78	11	11	0	7	7	13	13	7	7	0
Other long-term assets (Bn. VND)	·	169	163	163	164	164	163	161	5	0.2	0.2	0.2	0.2	0.2
Less: Provision for diminuation in value of long term investments	·	0	0	0	0	0	8	0	0	0	0	0	0	0
Other non-current assets	·	27	26	15	12	14	16	6	1	2	4	4	2	2
Long-term prepayments (Bn. VND)	·	16	3	0.4	0.7	2	5	6	1	2	4	4	2	1
TOTAL ASSETS (Bn. VND)	·	3,911	3,278	3,350	2,779	2,166	2,383	2,017	1,333	930	747	848	536	510
LIABILITIES (Bn. VND)	·	3,049	2,469	2,563	2,281	1,699	1,929	1,610	972	748	568	717	461	437
Current liabilities (Bn. VND)	·	2,564	2,168	2,297	1,937	1,432	1,809	1,486	909	665	482	593	334	295
Short-term borrowings (Bn. VND)Discount rate (WACC) +1	·	1,203	1,195	1,256	733	673	669	603	442	374	281	271	152	152
Advances from customers (Bn. VND)	·	888	421	410	240	195	163	309	96	30	10	29	9	26
Long-term liabilities (Bn. VND)	·	485	301	265	344	266	121	124	63	83	86	124	128	142
Long-term borrowings (Bn. VND)Discount rate (WACC) +1	·	406	200	169	207	58	120	124	63	83	86	124	127	124
OWNER'S EQUITY(Bn.VND)Discount rate (WACC)	·	862	809	787	498	468	454	408	361	182	179	131	75	73
Capital and reserves (Bn. VND)	·	862	809	787	498	468	454	408	361	182	179	131	75	73
Paid-in capital (Bn. VND)	·	600	600	600	366	366	366	333	300	150	150	120	70	70
Foreign Currency Difference reserve	·	2	2	0.5	−2	−2	0.9	0	0	0	0	0	0	0
Investment and development funds (Bn. VND)	·	192	155	54	54	54	11	8	5	4	3	0.6	0.3	0
Undistributed earnings (Bn. VND)	·	72	56	136	83	52	57	48	38	21	20	10	4	3
TOTAL RESOURCES (Bn. VND)	·	3,911	3,278	3,350	2,779	2,166	2,383	2,017	1,333	930	747	848	536	510
Short-term loans receivables (Bn. VND)	·	0	16	11	0	0	0	0	0	0	0	0	0	0
Common shares (Bn. VND)	·	600	600	600	366	366	366	333	300	150	150	120	70	70
MINORITY INTERESTSNet debt bridge	·	0	0	0	0	0	23	22	21	7	6	0	0	0

Earnings Quality

Fiscal year 2025

Good

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

100

ReceivablesDSO trend vs revenue growth

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2025

Remainder

M −2.65 · 31st pctile vs VN companies

YoY ▲ +0.25

Conservative vs VN peersUnusual accounting movement

Compare across the whole market

Ranked vs Vietnamese peers. The −1.78 Beneish cutoff is US-calibrated; ~28% of VN stocks exceed it.

DSRI

1.041

GMI

1.131

AQI

0.704

SGI

1.024

DEPI

1.168

SGAI

0.781

TATA

−0.046

LVGI

1.051

Checks measured on Vietnamese companies · FY2025

Cash conversion, 3 yearsOperating cash flow / net profit: −0.8315th pctile
Receivables outside the trade cyclePrepayments to suppliers, loans and other long-term receivables / total assets: 3.0%56th pctile
Accumulated losses / paid-in capitalUndistributed earnings below zero: None
Consecutive years of net lossProfit after tax of the parent: 0
Owner's equityWithout the non-controlling interest: Positive

Percentiles rank each fiscal year against Vietnamese non-financial companies (0 lowest, 100 highest). Over FY2015-2024, low cash conversion and a large share of receivables outside the trade cycle came before more listing trouble and more net losses the next year.

Statutory loss tests (Decree 155/2020/NĐ-CP, Art. 120(1)(e), amended by Decree 245/2025/NĐ-CP): a HOSE or HNX listing is cancelled when the audited annual statements show net losses in each of the latest 3 years, accumulated losses above the paid-in charter capital, or negative owner's equity. Read here from the annual statements as the data vendor publishes them. The company trades on UPCoM, where these tests do not apply.

Quantitative Scores

F-Score

5/9

Neutral

Z-Score

1.17

Distress Zone

Sharpe

−0.18

Negative

Composite

50 to 69

Piotroski F-Score Breakdown

✓Net Income > 0

✓Operating CF > 0

✗ROA Rising

✓OCF > Net Income

✗Lower Leverage

✓Better Liquidity

✓No Dilution

✗Margin Up

✗Turnover Up

DuPont Decomposition

Tax Burden0.64×Interest Burden0.74×Op. Margin0.03×Turnover0.90×Leverage4.54=ROE6.4%

Price Risk

Momentum

−2.6%

Volatility

34.6%

Max Drawdown

−39.8%

Key Ratios

Fiscal year 2025

7.87P/E

P/B: 0.50
P/S: 0.12
ROE: 6.6%
ROA: 1.5%
EPS: 915
BVPS: 14.371
Gross Margin: 8.2%
Net Margin: 1.6%
D/E: 1.87
Current Ratio: 1.07
Rev Growth: +2.7%
Profit Growth: +8.0%
EV/EBITDA: 5.64
Div Yield: —

Company Overview

Shares outstanding: 60.0M
Charter Capital: 600B VND
Sector (ICB L2): Hàng & Dịch vụ Công nghiệp
Industry (ICB L3): Tư vấn & Hỗ trợ Kinh doanh
Sub-industry: Nhà cung cấp thiết bị
Company Type: CT

Ownership network

Shareholder structure

Shareholders

Sankyu Inc.

Inst

35.0%

21.0M

2026-06-30

Nguyễn Văn Thọ

Indiv

19.1%

11.5M

2026-06-30

Nguyễn Văn Nghĩa

Indiv

17.3%

10.4M

2026-06-30

Nguyễn Đăng Minh

Indiv

3.9%

2.3M

2026-06-30

Đinh Ngọc Thắng

Indiv

0.9%

560,000

2026-06-30

Nguyễn Hữu Phong

Indiv

0.5%

275,050

2026-06-30

Lê Minh Tuấn

Indiv

0.2%

143,620

2025-06-30

Đặng Thị Thu Thuỷ

Indiv

0.2%

133,433

2026-06-30

Đặng Văn Đạt

Indiv

0.2%

124,175

2026-06-30

Board & Management

Nguyễn Văn Thọ19.1%

Member of Management Board/General Director

Nguyễn Văn Nghĩa17.3%

Chairman of Management Board

Nguyễn Đăng Minh3.9%

Member of Management Board

Đinh Ngọc Thắng0.9%

Member of Management Board

Nguyễn Hữu Phong0.5%

Chief Accountant

Đặng Thị Thu Thuỷ0.2%

Spokesman

Đặng Văn Đạt0.2%

Deputy General Director

Director-deal registrations · 12 months

Sale registrations: None
Purchase registrations: 2 by 1 trader; 3,000,000 shares
Registered net, share of outstanding:: +5.00%

Nguyễn Đăng Minh
Purchase · Insider
1,200,000
2026-04-06
Nguyễn Đăng Minh
Purchase · Insider
1,800,000
2026-02-11

Insiders, large holders and related persons register a trade before they make it. A registration is not an executed trade, and a holder that did not trade often registers again.

Computed 30/10/2026

Calibrated intrinsic value vs last close

Earnings-capitalised value

How it is calculated

Keep in mind

Why it needs review

Valuation Breakdown

DCF Sensitivity

AMS among Consumer

Financial Statements

Earnings Quality

Financial Forensics

Checks measured on Vietnamese companies · FY2025

Quantitative Scores

Key Ratios

Company Overview

Ownership network

Director-deal registrations · 12 months

Ownership network

Director-deal registrations · 12 months

AMS among Consumer