CCV

Construction

Công ty Cổ phần Tư vấn Xây dựng Công nghiệp và Đô thị Việt Nam

Xây dựng và Vật liệuCT

71.000

VND · Last close

Valuation Verdict

Undervalued

Low

-120%Fair Value+120%

Intrinsic Value

83.091

Current

71.000

Gap

+17.0%

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)

16.67%

Kd(1-t)

5.93%

D/(D+E)

83.33%

WACC

10.00%

Growth Estimate

fundamental firm blend4.76%

Growth decays 12%/yr toward terminal

Model Inputs

Valuation

50%EV/EBITDA Value

48.712

50%DCF Value

117.469

Blended Intrinsic

83.091

Value Decomposition

35%

65%

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

Valuation Track Record

Retroactive intrinsic value vs actual close price — CCV

Earnings Quality

Fiscal year 2024

Good

Accrual QualityLow accruals vs reported earnings

100

Cash ConversionOperating cash flow vs net income

ReceivablesDSO trend vs revenue growth

100

Margin StabilityConsistency of profit margins

100

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2024

-2.50

Moderate

DSRI

0.911

GMI

0.997

AQI

0.724

SGI

1.267

DEPI

0.472

SGAI

0.985

TATA

-0.000

LVGI

0.995

CCV exhibits a Beneish M-Score of -2.4956, indicating a low likelihood of earnings manipulation. However, the SGI of 1.2666 suggests aggressive revenue growth, which may warrant further scrutiny in the context of Vietnamese market dynamics.

Red Flags

SGI of 1.2666 indicates aggressive revenue growth, which may not be sustainable in the current market environment.

Positive Signals

Earnings Quality Score of 81.8/100 reflects strong earnings quality, particularly with an accrual score of 99.8/100 and receivables at 100.0/100.

Ownership Risk

The top shareholder, Tổng Công ty Tư vấn Xây dựng Việt Nam, holds a significant 51.0% stake, indicating potential influence over company decisions, which could pose risks related to governance and minority shareholder interests.

Recommendation

Investors should closely monitor revenue growth trends and assess the sustainability of earnings, while considering the strong earnings quality metrics as a positive indicator.

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

Quantitative Scores

F-Score

7/9

Strong

Z-Score

1.31

Distress Zone

Sharpe

0.75

Positive

Composite

Fair

Price Risk

Momentum

-6.4%

Volatility

88.8%

Max Drawdown

-36.4%

Key Ratios

Fiscal year 2024

10.10P/E

P/B2.07

P/S0.44

ROE33.2%

ROA5.2%

EPS7749.46

BVPS24622.64

Gross Margin20.3%

Net Margin6.7%

D/E5.25

Current Ratio1.16

Rev Growth26.7%

Profit Growth49.0%

EV/EBITDA4.82

Div Yield9.1%

Company Overview

Issued Shares

1.8M

Charter Capital

18.0B 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 CCV — hover nodes for intel, click to navigate

Shareholders

Tổng Công ty Tư vấn Xây dựng Việt Nam

Inst

51.0%

918.000

Nguyễn Văn Bằng

Indiv

9.6%

173.337

Mai Đoàn

Indiv

6.3%

112.500

Phạm Thị Thắng

Indiv

2.3%

41.171

Trần Huy Ánh

Indiv

1.8%

32.447

Nguyễn Khắc Bảng

Indiv

1.5%

26.946

Liễu Thị Bích Liên

Indiv

0.9%

15.689

Liễu Bích Liên

Indiv

0.9%

15.689

Vũ Minh Sơn

Indiv

0.7%

12.689

Lê Anh Dũng

Indiv

0.6%

11.383

Phùng Tiến Trung

Indiv

0.6%

11.274

Nguyễn Thị Hải Đường

Indiv

0.3%

6.056

Lê Văn Sơn

Indiv

0.3%

5.939

Nguyễn Thị Khánh Giang

Indiv

0.3%

4.692

Nguyễn Văn Thắng

Indiv

0.2%

3.706

Trần Trọng Kiên

Indiv

0.2%

2.984

Cao Tuấn Hải

Indiv

0.1%

1.920

Board & Management

Nguyễn Văn Bằng9.6%

Thành viên Hội đồng Quản trị

Phạm Thị Thăng2.3%

Kế toán trưởng

Trần Huy Ánh1.8%

Thành viên Hội đồng Quản trị/Tổng Giám đốc

Liễu Thị Bích Liên0.9%

Phụ trách Công bố thông tin

Phùng Tiến Trung0.6%

Phó Tổng Giám đốc

Nguyễn Thị Khánh Giang0.3%

Trưởng Ban kiểm soát

Nguyễn Văn Thắng0.2%

Phó Tổng Giám đốc

Trần Nhật Minh

Chủ tịch Hội đồng Quản trị

Top connections

USC57.8%NAC51.0%VWS51.0%CNN51.0%LCC21.5%TDT9.6%DXG9.6%HTN9.6%KOS2.3%TQW2.3%

Computed 12/04/2026