DTA
Real EstateValuation Breakdown
Real estate developers in Vietnam report land banks at historical acquisition cost (Vietnamese Accounting Standards don't allow revaluation). This means book value severely understates true asset value. This model blends two approaches: an RNAV proxy (revalued net asset value, applying a 1.5x factor to book value) weighted 40%, and a DCF on normalized cash flows weighted 60%. Highly leveraged firms receive a +2% WACC penalty.
Valuation Track Record
Retroactive intrinsic value vs actual close price — DTA
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2024
DTA exhibits several concerning indicators of potential earnings manipulation, particularly with a Beneish M-Score of -2.1995, which is below the manipulation threshold of -1.78. While the company shows strong receivables management, the overall earnings quality score of 42.7 suggests significant weaknesses in cash conversion and revenue recognition.
- Beneish M-Score of -2.1995 indicates potential earnings manipulation, significantly below the threshold of -1.78.
- Earnings Quality Score of 42.7/100, with cash conversion at 0.0/100, raises concerns about the reliability of reported earnings.
- Strong receivables management with an eq_receivables score of 100.0/100, indicating effective collection processes.
- Low DSRI of 0.6346 suggests that inventory levels are well managed relative to sales.
The ownership structure is fragmented, with no single shareholder holding a majority stake, which may reduce the risk of controlling shareholder influence but could also lead to governance challenges.
Investors should exercise caution and closely monitor DTA's financial disclosures and cash flow statements. A deeper analysis of revenue recognition practices is recommended before making investment decisions.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for DTA — hover nodes for intel, click to navigate