FSO
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 — FSO
Earnings Quality
Fiscal year 2024
Financial Forensics
Beneish M-Score · 2024
FSO exhibits significant red flags indicating potential earnings manipulation, as evidenced by a Beneish M-Score of 6.5272, well above the manipulation threshold of -1.78. The earnings quality metrics reveal substantial weaknesses, particularly in revenue recognition and receivables management.
- Beneish M-Score of 6.5272 indicates a high likelihood of earnings manipulation.
- Earnings Quality Score of 49.1/100, with eq_receivables and eq_margin both at 0.0/100, suggests severe issues in revenue recognition and cash conversion.
- High accrual quality score of 97.5/100 indicates that reported earnings are largely based on actual cash flows.
The ownership structure is heavily concentrated, with Tổng Công ty Thủy sản Việt Nam holding 62.4%, which may lead to governance risks and reduced accountability to minority shareholders.
Investors should exercise caution and conduct further due diligence before considering an investment in FSO, particularly focusing on revenue recognition practices and the implications of concentrated ownership.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for FSO — hover nodes for intel, click to navigate