CNT
Real EstateValuation Breakdown
Real estate developers in Vietnam report land banks at historical acquisition cost (Vietnamese Accounting Standards don't allow revaluation). This means book value severely understates true asset value. This model blends two approaches: an RNAV proxy (revalued net asset value, applying a 1.5x factor to book value) weighted 40%, and a DCF on normalized cash flows weighted 60%. Highly leveraged firms receive a +2% WACC penalty.
Valuation Track Record
Retroactive intrinsic value vs actual close price — CNT
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
CNT exhibits several concerning indicators of earnings quality and potential manipulation, as evidenced by a Beneish M-Score of -1.4314, which is above the manipulation threshold of -1.78. The low earnings quality score of 12.1/100 further highlights significant risks in financial reporting.
- Earnings Quality Score of 12.1/100 indicates poor earnings quality.
- High SGAI of 3.1735 suggests excessive selling, general, and administrative expenses relative to sales, which could indicate inefficiencies or potential manipulation.
- DSRI of 0.7012 indicates that accounts receivable are growing slower than sales, which is a positive sign.
- SGI of 0.2370 shows that sales growth is significantly lower than the industry average, potentially indicating a conservative approach to revenue recognition.
The ownership structure is heavily concentrated, with Công ty Cổ Phần Hồng Mã holding 88.1% of shares, which raises concerns about minority shareholder rights and potential conflicts of interest.
Investors should approach CNT with caution, considering the elevated risk of earnings manipulation. It is advisable to monitor future earnings reports closely and assess any changes in management or ownership structure.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for CNT — hover nodes for intel, click to navigate