CCC

Construction

Công ty Cổ Phần Xây Dựng CDC

Xây dựng và Vật liệuCT

7.610

VND · Last close

Valuation Verdict

Overvalued

Low

-120%Fair Value+120%

Intrinsic Value

2.368

Current

7.610

Gap

-68.9%

ModelEV EBITDA DCF BLEND

Valuation Breakdown

CT→Xây dựng và Vật liệu→Construction

Classified as construction because ICB sector "Xây dựng và Vật liệu" maps to the construction group

ModelEV/EBITDA + DCF Blend

Intrinsic = 50% x EV/EBITDA Value + 50% x DCF Value

Construction and industrial firms have characteristics of both cyclical businesses (lumpy project-based revenue) and growth companies (expanding order books). This model blends two approaches 50/50: EV/EBITDA valuation (captures current earning power relative to peers) and FCF-based DCF (captures future cash generation potential). If EV/EBITDA produces a negative value (debt exceeds enterprise value), only DCF is used.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.50%

Betasector default

1.100

ERP

4.25%

CRP

2.75%

Cost of Equity (Ke)

12.20%

E/(D+E)

27.23%

Kd(1-t)

6.33%

D/(D+E)

72.77%

WACC

10.00%

Growth Estimate

fundamental firm blend2.39%

Growth decays 12%/yr toward terminal

Model Inputs

Valuation

50%EV/EBITDA Value

4.570

50%DCF Value

167

Blended Intrinsic

2.368

Value Decomposition

35%

65%

Explicit period (35%)Terminal value (65%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — CCC

Earnings Quality

Fiscal year 2025

Fair

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

ReceivablesDSO trend vs revenue growth

100

Margin StabilityConsistency of profit margins

100

Financial Forensics

Beneish M-Score · 2025

-1.60

Elevated

DSRI

1.051

GMI

0.979

AQI

1.022

SGI

1.225

DEPI

0.990

SGAI

1.067

TATA

0.141

LVGI

1.047

The Beneish M-Score of -1.6007 indicates that CCC is not currently flagged for earnings manipulation, as it is above the threshold of -1.78. However, the earnings quality score of 55.6 suggests moderate concerns, particularly due to low cash conversion metrics.

Red Flags

Earnings Quality Score of 55.6 indicates potential issues with cash conversion, particularly an eq_cash_conv score of 0.0/100, which raises concerns about the sustainability of reported earnings.
SGI of 1.2247 suggests aggressive growth strategies that may not be supported by underlying cash flows, indicating potential overvaluation risks.

Positive Signals

Receivables and margin scores of 100.0/100 indicate strong operational efficiency and effective revenue generation, which are positive indicators for the company's core business.

Ownership Risk

The top shareholders include a mix of individuals and an institutional investor, with Nguyễn Tiến Đạt holding a significant 24.0%. This concentrated ownership may lead to governance risks, as decisions could be influenced by a few key stakeholders.

Recommendation

Investors should closely monitor cash flow metrics and consider a deeper analysis of growth strategies before making investment decisions. It may be prudent to wait for improved earnings quality indicators before increasing exposure to CCC.

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

Quantitative Scores

F-Score

4/9

Neutral

Z-Score

1.58

Distress Zone

Sharpe

-1.31

Negative

Composite

Poor

Price Risk

Momentum

-36.5%

Volatility

40.4%

Max Drawdown

-57.8%

Key Ratios

Fiscal year 2025

7.06P/E

P/B0.51

P/S0.11

ROE7.4%

ROA1.9%

EPS1078.51

BVPS14931.85

Gross Margin3.7%

Net Margin1.6%

D/E3.20

Current Ratio1.23

Rev Growth22.5%

Profit Growth17.0%

EV/EBITDA16.20

Div Yield0.0%

Company Overview

Issued Shares

41.1M

Charter Capital

410.5B VND

Sector (ICB L2)

Xây dựng và Vật liệu

Industry (ICB L3)

Xây dựng và Vật liệu

Sub-industry

Xây dựng

Company Type

// OWNERSHIP_NETWORK

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

Shareholders

Nguyễn Tiến Đạt

Indiv

24.0%

9.6 trieu

Công ty Cổ phần Cdc Holding

Inst

18.6%

7.5 trieu

Trần Văn Trường

Indiv

8.0%

3.2 trieu

Đặng Thanh Trang

Indiv

8.0%

3.2 trieu

Ngô Tấn Long

Indiv

8.0%

3.2 trieu

Lê Hồng Lĩnh

Indiv

8.0%

3.2 trieu

Lê Văn Quang

Indiv

4.2%

1.7 trieu

Mai Đình Chất

Indiv

2.0%

805.000

Nguyễn Khắc Thịnh

Indiv

2.0%

805.000

Nguyễn Thị Thủy

Indiv

0.8%

299.999

Nguyễn Văn Tiến

Indiv

0.7%

300.000

Phan Đức Giáp

Indiv

0.2%

100.000

Ngô Quý Nhâm

Indiv

0.2%

100.000

Top connections

GLC24.0%HEC2 links PMG24.0%VDG24.0%HNP24.0%HBD16.4%MPC16.1%HPB13.3%RYG10.7%ATS9.7%HC38.2%SD28.0%

Computed 12/04/2026