CSV
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 — CSV
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -1.8676 indicates a potential risk of earnings manipulation, as it exceeds the threshold of -1.78. Additionally, the earnings quality score of 57.2 suggests moderate concerns regarding the sustainability of earnings, particularly due to low cash conversion metrics.
- Beneish M-Score of -1.8676 indicates potential earnings manipulation risk.
- Earnings quality cash conversion score of 22.6/100 suggests significant issues with cash flow relative to reported earnings.
- Receivables and margin metrics both score 100.0/100, indicating strong performance in these areas.
- Ownership concentration with Tập đoàn Hóa chất Việt Nam holding 65.0% suggests stability and commitment from a major institutional investor.
The high ownership concentration by Tập đoàn Hóa chất Việt Nam may lead to governance risks, as minority shareholders could have limited influence over corporate decisions.
Investors should closely monitor cash flow performance and consider conducting further due diligence on management practices to assess the risk of earnings manipulation.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for CSV — hover nodes for intel, click to navigate