CID

Construction

Công ty Cổ phần Xây dựng và Phát triển Cơ sở Hạ tầng

Xây dựng và Vật liệuCT

9.500

VND · Last close

Valuation Verdict

Undervalued

Low

-120%Fair Value+120%

Intrinsic Value

16.051

Current

9.500

Gap

+69.0%

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)

89.66%

Kd(1-t)

6.35%

D/(D+E)

10.34%

WACC

11.60%

Growth Estimate

fundamental firm blend3.49%

Growth decays 12%/yr toward terminal

Model Inputs

Valuation

50%EV/EBITDA Value

9.701

50%DCF Value

22.401

Blended Intrinsic

16.051

Value Decomposition

41%

59%

Explicit period (41%)Terminal value (59%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — CID

Earnings Quality

Fiscal year 2025

Good

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

100

ReceivablesDSO trend vs revenue growth

100

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2019

-2.81

Low Risk

DSRI

0.519

GMI

1.028

AQI

1.219

SGI

1.043

DEPI

0.000

SGAI

1.227

TATA

0.016

LVGI

0.839

CID exhibits a Beneish M-Score of -2.8059, indicating a low likelihood of earnings manipulation; however, the earnings quality score of 61.4 suggests potential concerns, particularly with revenue and margin metrics. The concentrated ownership structure raises governance risks, particularly with the dominant individual shareholder holding over 51%.

Red Flags

Earnings Quality Score of 61.4 indicates potential issues, especially with revenue and margin metrics at 0.0/100.
High concentration of ownership with Trần Duy Hải holding 51.1% raises governance concerns.

Positive Signals

Beneish M-Score of -2.8059 suggests low likelihood of earnings manipulation.
Strong receivables metric at 100.0/100 indicates effective collection practices.

Ownership Risk

The ownership structure is heavily skewed towards individual shareholders, particularly Trần Duy Hải with 51.1%, which may lead to governance risks and potential conflicts of interest.

Recommendation

Investors should closely monitor CID's earnings quality metrics and governance practices, considering a cautious approach until improvements in revenue and margin metrics are observed.

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

Quantitative Scores

F-Score

7/9

Strong

Z-Score

5.34

Safe Zone

Sharpe

-0.85

Negative

Composite

Fair

Price Risk

Momentum

-68.6%

Volatility

95.9%

Max Drawdown

-75.4%

Key Ratios

Fiscal year 2025

6.55P/E

P/B0.70

P/S2.07

ROE10.8%

ROA9.7%

EPS1449.59

BVPS13494.34

Gross Margin79.7%

Net Margin31.5%

D/E0.12

Current Ratio7.67

Rev Growth3.8%

Profit Growth3.7%

EV/EBITDA4.48

Div Yield0.0%

Company Overview

Issued Shares

1.1M

Charter Capital

10.8B 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 CID — hover nodes for intel, click to navigate

Shareholders

Trần Duy Hải

Indiv

51.1%

552.726

Tổng Công ty Đầu Tư Và Kinh Doanh Vốn Nhà Nước

State

9.0%

97.632

Trần Hải Nguyên Long

Indiv

7.3%

78.860

Trần Hoài Linh

Indiv

5.0%

46.000

Lê Trực

Indiv

4.0%

39.267

Đỗ Huy Số

Indiv

1.7%

16.645

Nguyễn Tuấn Anh

Indiv

0.8%

8.250

Vũ Xuân Huy

Indiv

0.7%

6.856

Trần Quốc Điền

Indiv

0.2%

2.200

Hoàng Cảnh

Indiv

0.1%

1.200

Phạm Ánh Dương

Indiv

0.1%

1.000

Board & Management

Trần Duy Hải51.1%

Chủ tịch Hội đồng Quản trị/Giám đốc

Trần Hải Nguyên Long7.3%

Thành viên Hội đồng Quản trị/Phó Giám đốc

Trần Quốc Điền0.2%

Thành viên Ban kiểm soát

Hoàng Cảnh0.1%

Thành viên Hội đồng Quản trị

Phạm Ánh Dương0.1%

Thành viên Ban kiểm soát

Vũ Trọng Hiệp

Trưởng Ban kiểm soát

Nguyễn Văn Thiết

Thành viên Hội đồng Quản trị/Phó Giám đốc

Tạ Xuân Hoàn

Kế toán trưởng

Trần Thị Hải Bảo Long

Thành viên Hội đồng Quản trị

Top connections

SJG99.8%MIE99.6%TVN93.9%VGV87.3%VNP65.8%DVN2 links SEA63.4%QTC53.8%VGT53.5%CAG53.0%BMI50.7%VXB49.8%

Computed 12/04/2026