DSP
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 — DSP
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2019
The Beneish M-Score of -2.0235 indicates that DSP is below the manipulation threshold, suggesting lower risk of earnings manipulation. However, the earnings quality score of 36.2/100, particularly low cash conversion and receivables metrics, raises concerns about the sustainability of reported earnings.
- Earnings Quality Score of 36.2/100, with cash conversion at only 4.0/100 and receivables at 0.0/100, indicating potential issues with cash flow and revenue recognition.
- DSRI at 1.1911 suggests that inventory growth is outpacing revenue growth, which could indicate overproduction or declining demand.
- Beneish M-Score of -2.0235 is below the manipulation threshold of -1.78, indicating a lower likelihood of earnings manipulation.
- Strong equity margin score of 100.0/100 suggests that the company maintains high profitability relative to its revenue.
The high concentration of ownership with Tổng Công ty Du lịch Sài Gòn and Công ty Cổ phần SAM Holdings holding 49.0% and 35.0% respectively could lead to potential governance issues and lack of minority shareholder protection.
Investors should closely monitor cash flow and revenue recognition practices, and consider engaging with management regarding transparency in financial reporting. Caution is advised due to the elevated risk signals despite some positive indicators.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for DSP — hover nodes for intel, click to navigate