DHG
ConsumerValuation Breakdown
A classic Discounted Cash Flow model built on Free Cash Flow (FCF), the actual cash a business generates after all operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted back to today's value using WACC. This is the gold standard of intrinsic valuation: it values the company based on what it can actually deliver to shareholders, independent of market sentiment.
Valuation Track Record
Retroactive intrinsic value vs actual close price — DHG
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -2.6758 indicates that DHG is not likely engaging in earnings manipulation, as it is well below the threshold of -1.78. However, the low revenue quality score (10.9/100) raises concerns about the sustainability of revenue recognition, which could pose risks in the Vietnamese market context.
- Low revenue quality score of 10.9/100 suggests potential issues with revenue recognition.
- High DEPI of 1.3176 indicates increasing depreciation relative to sales, which could signal aggressive accounting practices.
- Strong earnings quality score of 76.9/100, particularly high cash conversion (100.0/100) and receivables quality (100.0/100), indicating solid cash flow management.
- Majority ownership by TAISHO PHARMACEUTICAL CO., LTD. (51.0%) and state ownership (43.3%) suggests stability and commitment from significant stakeholders.
The concentrated ownership structure, with over 94% held by institutional and state entities, reduces the risk of hostile takeovers but may limit minority shareholder influence and transparency.
Monitor revenue recognition practices closely and consider engaging with management regarding the low revenue quality score. Given the strong institutional backing, a cautious investment approach may be warranted.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for DHG — hover nodes for intel, click to navigate