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Consumer sector

DPP

Consumer
Công ty Cổ phần Dược Đồng Nai
Y tế/Dược phẩmCT
28.000
VND · Last close
Valuation Verdict
Undervalued
Low
-120%Fair Value+120%
Intrinsic Value
48.649
Current
28.000
Gap
+73.8%
ModelFCF DCF

Valuation Breakdown

CTY tếConsumer
Classified as consumer because ICB sector "Y tế" maps to the consumer group
ModelFCF-Based DCF
Value = Sum of [FCF / (1+WACC)^t] + Terminal Value / (1+WACC)^n

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.

1
Weighted Avg Cost of Capital
Risk-Free (Rf)
4.50%
+
Betasector default
0.800
x
ERP
4.25%
+
CRP
2.75%
=
Cost of Equity (Ke)
10.10%
Ke
10.10%
x
E/(D+E)
47.67%
+
Kd(1-t)
6.37%
x
D/(D+E)
52.33%
=
WACC
10.00%
2
Growth Estimate
fundamental firm blend5.07%
Growth decays 10%/yr toward terminal
3
Model Inputs
Base FCF8.16B
Projection years10
4
Valuation
Base FCF
8.16B
Growth Rate
5.07%
WACC
10.00%
Terminal Growth
4.00%
DCF Value
48.649
Value Decomposition
43%
57%
Explicit period (43%)Terminal value (57%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — DPP

Earnings Quality

Fiscal year 2024

75
Good
Accrual Quality
98
Cash Conversion
75
Receivables
100
Margin Stability
81
Revenue Quality
0

Financial Forensics

Beneish M-Score · 2017

-2.59
Low Risk
DSRI
0.771
GMI
1.119
AQI
0.713
SGI
1.109
DEPI
0.000
SGAI
0.816
TATA
0.027
LVGI
0.946

DPP exhibits several concerning financial metrics, particularly with a Beneish M-Score of -2.5857, indicating a low likelihood of earnings manipulation. However, the earnings quality score of 67.6 suggests some strengths in accruals and margins, though cash conversion remains weak.

Red Flags
  • Beneish M-Score of -2.5857 indicates a potential risk of manipulation, as it is significantly below the threshold of -1.78.
  • Earnings quality score of 45.9/100 for cash conversion is notably low, suggesting potential issues with liquidity or operational efficiency.
  • Revenue quality score of 0.0/100 raises concerns about the sustainability and recognition of revenue.
Positive Signals
  • Strong receivables quality score of 100.0/100 indicates effective management of accounts receivable.
  • High accrual quality score of 89.2/100 suggests that reported earnings are backed by actual economic activity.
Ownership Risk

The ownership structure shows significant concentration with the largest shareholder holding 51.5%, which may lead to governance risks and potential conflicts of interest in decision-making.

Recommendation

Investors should closely monitor DPP's cash conversion metrics and revenue recognition practices. It may be prudent to approach investment with caution, considering potential governance risks due to concentrated ownership.

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

Quantitative Scores

F-Score
4/9
Neutral
Z-Score
5.18
Safe Zone
Sharpe
0.53
Positive
Composite
70
Strong
Price Risk
Momentum
+5.8%
Volatility
35.1%
Max Drawdown
-40.0%

Key Ratios

Fiscal year 2024
11.12P/E
P/B1.48
P/S0.19
ROE16.2%
ROA8.3%
EPS2961.81
BVPS18872.43
Gross Margin6.3%
Net Margin2.0%
D/E1.10
Current Ratio1.72
Rev Growth36.5%
Profit Growth7.2%
EV/EBITDA6.31
Div Yield5.4%

Company Overview

Issued Shares
3.0M
Charter Capital
30.0B VND
Sector (ICB L2)
Y tế
Industry (ICB L3)
Dược phẩm
Sub-industry
Dược phẩm
Company Type
CT

// OWNERSHIP_NETWORK

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

Shareholders
Công ty Cổ phần Chế biến Xuất nhập khẩu Nông sản Thực phẩm Đồng Nai
Inst
51.5%
1.5 trieu
Trương Thanh Tùng
Indiv
13.5%
405.091
Hoàng Văn Phục
Indiv
13.5%
405.091
Công ty Cổ Phần Khu Công Nghiệp Tín Nghĩa - Phương Đông
Inst
13.5%
404.091
Đỗ Thị Nga
Indiv
6.0%
180.967
Công ty TNHH Dược phẩm Ngọc Thu
Inst
3.8%
75.595
Nguyễn Thị Thanh Trúc
Indiv
1.2%
22.885
Nguyễn Thị Nhung
Indiv
0.5%
10.450
Phạm Mỹ Lệ
Indiv
0.4%
7.837
Trần Thị Mỹ Lệ
Indiv
0.3%
10.000
Phạm Thị Thanh Thủy
Indiv
0.1%
4.414
Nguyễn Đình Cầu
Indiv
0.1%
2.090
Board & Management
Đỗ Thị Nga6.0%
Phó Chủ tịch Hội đồng Quản trị/Tổng Giám đốc
Trần Thị Mỹ Lệ0.3%
Thành viên Ban kiểm soát
Phạm Thị Thanh Thùy0.1%
Phụ trách Công bố thông tin/Kế toán trưởng
Mai Thị Thế
Thành viên Ban kiểm soát
Nguyễn Văn Khoa
Người phụ trách quản trị công ty
Nguyễn Văn Phước
Giám đốc
TRẦN TRUNG TUẤN
Chủ tịch Hội đồng Quản trị
Nguyễn Văn Khoa
Phó Tổng Giám đốc
Lê Đình Sơn
Trưởng Ban kiểm soát
Nguyễn Minh Trung
Thành viên Hội đồng Quản trị
Nguyễn Thị Thùy Vân
Thành viên Hội đồng Quản trị
Computed 12/04/2026
Methodology & Disclosure

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