BIG

Consumer

Công ty Cổ phần Đầu tư BIG Group Holdings

Thực phẩm và đồ uống/Sản xuất thực phẩmCT

6.400

VND · Last close

Valuation Verdict

Undervalued

Very Low

-120%Fair Value+120%

Intrinsic Value

7.202

Current

6.400

Gap

+12.5%

ModelFCF DCF

Valuation Breakdown

CT→Thực phẩm và đồ uống→Consumer

Classified as consumer because ICB sector "Thực phẩm và đồ uống" maps to the consumer group

ModelFCF-Based DCF

Value = Sum of [FCF / (1+WACC)^t] + Terminal Value / (1+WACC)^n

A classic Discounted Cash Flow model built on Free Cash Flow (FCF), the actual cash a business generates after all operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted back to today's value using WACC. This is the gold standard of intrinsic valuation: it values the company based on what it can actually deliver to shareholders, independent of market sentiment.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.50%

Betasector default

0.800

ERP

4.25%

CRP

2.75%

Cost of Equity (Ke)

10.10%

E/(D+E)

45.41%

Kd(1-t)

6.62%

D/(D+E)

54.59%

WACC

10.00%

Growth Estimate

fundamental firm blend5.51%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→9.80B

Projection years→10

Valuation

Base FCF

9.80B

Growth Rate

5.51%

WACC

10.00%

Terminal Growth

4.00%

DCF Value

7.202

Value Decomposition

43%

57%

Explicit period (43%)Terminal value (57%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — BIG

Earnings Quality

Fiscal year 2025

Poor

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

ReceivablesDSO trend vs revenue growth

100

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2025

-2.24

Moderate

DSRI

0.823

GMI

0.374

AQI

0.402

SGI

1.133

DEPI

1.506

SGAI

1.400

TATA

0.176

LVGI

0.859

The Beneish M-Score of -2.2357 indicates a lower likelihood of earnings manipulation, as it is below the threshold of -1.78. However, the low Earnings Quality Score of 29.9/100, particularly the zero scores in cash conversion and revenue quality, raises concerns about the sustainability of reported earnings.

Red Flags

Earnings Quality Score of 29.9/100 indicates poor earnings quality, with a cash conversion score of 0.0/100 suggesting potential issues in converting earnings to cash.
The SGI of 1.1333 indicates that sales growth is outpacing the growth of receivables, which may signal aggressive revenue recognition practices.

Positive Signals

Beneish M-Score of -2.2357 suggests a lower likelihood of earnings manipulation compared to the threshold of -1.78.
High receivables quality score of 100.0/100 indicates effective management of accounts receivable.

Ownership Risk

The ownership structure is concentrated among a few individuals, with the largest shareholder holding 20.0%. This concentration can lead to governance risks, as minority shareholders may have limited influence.

Recommendation

Investors should closely monitor the company's cash flow and revenue recognition practices, given the low cash conversion score. Consider a cautious approach to investment until there are improvements in earnings quality metrics.

Generated by AI based on quantitative data. Not financial advice.

Quantitative Scores

F-Score

5/9

Neutral

Z-Score

2.33

Grey Zone

Sharpe

0.83

Positive

Composite

Weak

Price Risk

Momentum

+2.5%

Volatility

64.2%

Max Drawdown

-34.4%

Key Ratios

Fiscal year 2025

2.82P/E

P/B0.52

P/S0.20

ROE20.2%

ROA9.6%

EPS2285.26

BVPS12482.40

Gross Margin12.3%

Net Margin6.9%

D/E0.88

Current Ratio1.87

Rev Growth13.3%

Profit Growth272.7%

EV/EBITDA2.78

Div Yield0.0%

Company Overview

Issued Shares

16.0M

Charter Capital

310.7B VND

Sector (ICB L2)

Thực phẩm và đồ uống

Industry (ICB L3)

Sản xuất thực phẩm

Sub-industry

Nuôi trồng nông & hải sản

Company Type

// OWNERSHIP_NETWORK

> mapping common ownership for BIG — hover nodes for intel, click to navigate

Shareholders

Võ Phi Nhật Huy

Indiv

20.0%

6.2 trieu

Nguyễn Ngọc Nhi

Indiv

12.7%

4.0 trieu

Trần Sinh Vương

Indiv

3.5%

1.1 trieu

Công ty TNHH Công Nghệ Y Tế Metacare

Inst

2.5%

790.000

Kiều Văn Khoa

Indiv

2.4%

731.607

Trần Đình Tú

Indiv

1.0%

50.000

Lương Hoàng Hưng

Indiv

0.8%

244.795

Công ty CP Huy Hoàng Holding

Inst

0.8%

240.000

nguyen-thi-hao

Indiv

0.7%

112.930

Tấn Lộc Louis

Indiv

0.7%

111.544

Công ty Cổ phần Dược Lâm Đồng - Ladophar

Inst

0.6%

201.000

Công ty CP Đầu Tư Blc

Inst

0.6%

171.600

trương huy tâm

Indiv

0.5%

150.000

Kim Thị Vân

Indiv

0.5%

150.000

Công ty Cổ phần Tập Đoàn Đầu Tư Tài Chính Mya Capital

Inst

0.4%

123.000

Trần Thị Mưa Thao

Indiv

0.4%

108.385

Top connections

ECI18.0%HVA9.6%DLR5.0%SVN4.1%

Computed 12/04/2026