BMJ
CyclicalsValuation Breakdown
Cyclical companies (chemicals, oil & gas, basic resources) have earnings that swing dramatically with commodity prices and economic cycles. Valuing them on a single year's earnings is misleading: they look cheap at peaks and expensive at troughs. This model uses 7-year median EBITDA ("mid-cycle" earnings) and a 7-year median EV/EBITDA multiple to estimate what the firm is worth at a normal point in the cycle.
Valuation Track Record
Retroactive intrinsic value vs actual close price — BMJ
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -3.0248 indicates a low likelihood of earnings manipulation, as it is well below the threshold of -1.78. However, the earnings quality score of 59.6/100 reveals significant concerns, particularly in cash conversion and revenue recognition.
- Earnings Quality Score of 59.6/100, particularly low cash conversion at 16.0/100, indicating potential issues in converting earnings into actual cash flow.
- Low revenue quality score of 18.4/100, suggesting that reported revenues may not be sustainable or reliable.
- Beneish M-Score of -3.0248, indicating a low likelihood of earnings manipulation.
- Strong receivables quality score of 100.0/100, reflecting effective management of accounts receivable.
The concentrated ownership structure, with the top four shareholders holding over 89% of the company, raises concerns about governance and potential conflicts of interest, as decisions may favor the interests of a few individuals over minority shareholders.
Investors should closely monitor cash flow performance and revenue recognition practices, while considering a cautious approach due to the concentrated ownership structure that may limit shareholder influence.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for BMJ — hover nodes for intel, click to navigate