DAD

Technology

Công ty Cổ phần Đầu tư và Phát triển Giáo dục Đà Nẵng

Truyền thôngCT

15.400

VND · Last close

Valuation Verdict

Undervalued

Low

-120%Fair Value+120%

Intrinsic Value

27.588

Current

15.400

Gap

+79.1%

ModelDCF PE BLEND

Valuation Breakdown

CT→Technology

Defaulted to technology (no specific sector mapping found)

ModelDCF + P/E Blend

Intrinsic = 60% x DCF Value + 40% x (Fair P/E x EPS)

Technology companies combine high growth potential with the risk of overvaluation. This model blends DCF (60% weight, capturing long-duration growth) with a P/E sanity check (40% weight, capping speculative excess). The DCF uses the slowest growth decay (0.05) recognizing that tech companies can sustain competitive advantages longer. The P/E component applies a dynamic ceiling: max P/E = min(growth% x 1.5, 30), preventing runaway valuations.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.50%

Betasector default

1.300

ERP

4.25%

CRP

2.75%

Cost of Equity (Ke)

13.60%

E/(D+E)

58.93%

Kd(1-t)

6.04%

D/(D+E)

41.07%

WACC

10.50%

Growth Estimate

fundamental firm blend6.80%

Growth decays 5%/yr toward terminal

Model Inputs

Max fair P/E→13.59x

Valuation

60%DCF Value

34.378

40%P/E Value

17.405

Blended Intrinsic

27.588

Value Decomposition

42%

58%

Explicit period (42%)Terminal value (58%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — DAD

Earnings Quality

Fiscal year 2025

Poor

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

ReceivablesDSO trend vs revenue growth

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2019

-3.06

Low Risk

DSRI

0.309

GMI

0.937

AQI

0.739

SGI

1.262

DEPI

0.000

SGAI

1.055

TATA

0.065

LVGI

1.680

DAD exhibits a Beneish M-Score of -3.064, indicating a low likelihood of earnings manipulation. However, the earnings quality metrics reveal significant weaknesses, particularly in cash conversion and revenue recognition, which could raise concerns about the sustainability of financial performance.

Red Flags

Earnings Quality Score of 61.0/100, with a low eq_cash_conv of 36.5/100 indicating potential issues in cash flow relative to earnings.
Very low eq_revenue score of 5.2/100 suggests aggressive revenue recognition practices that may not align with actual cash inflows.

Positive Signals

Beneish M-Score of -3.064, well below the manipulation threshold of -1.78, indicating a lower risk of earnings manipulation.
High eq_receivables score of 100.0/100, suggesting that accounts receivable management is strong and collections are likely effective.

Ownership Risk

The ownership structure shows a significant concentration with the top shareholder holding 41.5%, which may lead to governance risks and potential conflicts of interest. However, the presence of institutional investors may provide some level of oversight.

Recommendation

Investors should closely monitor cash flow performance and revenue recognition practices in future reports. Consider a cautious approach to investment until improvements in earnings quality metrics are observed.

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

Quantitative Scores

F-Score

3/9

Weak

Z-Score

3.60

Safe Zone

Sharpe

-0.25

Negative

Composite

Weak

Price Risk

Momentum

+9.0%

Volatility

30.3%

Max Drawdown

-13.7%

Key Ratios

Fiscal year 2025

7.42P/E

P/B0.80

P/S0.19

ROE10.7%

ROA5.9%

EPS2076.18

BVPS19254.40

Gross Margin16.8%

Net Margin2.6%

D/E0.98

Current Ratio1.79

Rev Growth-20.9%

Profit Growth-8.9%

EV/EBITDA4.78

Div Yield9.7%

Company Overview

Issued Shares

5.0M

Charter Capital

50.0B VND

Sector (ICB L2)

Truyền thông

Industry (ICB L3)

Truyền thông

Sub-industry

Sách, ấn bản & sản phẩm văn hóa

Company Type

// OWNERSHIP_NETWORK

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

Shareholders

Công ty TNHH MTV Nhà Xuất Bản Giáo Dục Việt Nam

Inst

41.5%

2.1 trieu

afc vietnam fund

Inst

18.9%

880.100

Mekong Portfolio Investments Limited

Inst

5.0%

231.400

Công ty Cổ phần Đầu tư tài chính Thiên Hóa

Inst

3.8%

191.100

Nguyễn Thị Kim Liên

Indiv

1.3%

61.503

Hồ Văn Lĩnh

Indiv

1.3%

60.100

Hồ Văn Lĩnh

Indiv

1.3%

60.100

Hồ Quang

Indiv

0.9%

39.400

Hoàng Quốc Hiệp

Indiv

0.8%

39.300

Trần Thị Kim Hương

Indiv

0.4%

19.205

Lê Ngọc

Indiv

0.4%

18.000

Huỳnh Ngọc Bảo

Indiv

0.4%

17.600

nguyen-quang-dung

Indiv

0.3%

14.800

Phạm Thanh Nam

Indiv

0.2%

10.900

Đặng Thị Ngọc Dung

Indiv

0.2%

9.540

Phạm Văn An

Indiv

0.2%

7.500

Huỳnh Bá Vân

Indiv

0.1%

6.000

Lê Hồng

Indiv

0.1%

5.000

Board & Management

Lê Ngọc0.4%

Kế toán trưởng/Thành viên Hội đồng Quản trị

Huỳnh Ngọc Bảo0.4%

Phó Tổng Giám đốc

Nguyễn Quang Dũng0.3%

Thành viên Hội đồng Quản trị/Tổng Giám đốc

Hồ Phú Cường

Thành viên Ban kiểm soát

Đặng Thanh Hải

Chủ tịch Hội đồng Quản trị

Phạm Thị Thu Hương

Thành viên Hội đồng Quản trị

Nguyễn Lê Văn

Thành viên Hội đồng Quản trị

Đặng Công Đức

Thành viên Ban kiểm soát

Nguyễn Hà Khiêm

Phụ trách Công bố thông tin

Top connections

SMN53.1%STC52.5%NBE46.0%SED2 links EID2 links ADC41.5%DAE6 links EBS3 links ECI2 links SGD41.5%HEV41.5%HTP41.5%

Computed 12/04/2026