HAT
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 — HAT
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The forensic assessment of HAT reveals significant red flags indicating potential financial manipulation, as evidenced by a Beneish M-Score of 9.8615, which far exceeds the manipulation threshold of -1.78. Additionally, the company's earnings quality score of 18.8/100 highlights severe issues with cash conversion and receivables, raising concerns about the reliability of reported earnings.
- Beneish M-Score of 9.8615 indicates likely earnings manipulation.
- Earnings Quality Score of 18.8/100, with eq_cash_conv and eq_receivables both at 0.0/100, suggests severe cash flow issues.
- DSRI of 12.8955 indicates significant increases in receivables relative to sales, which could imply aggressive revenue recognition.
- Ownership concentration with 60.0% held by Tổng Công ty Cổ phần Bia - Rượu - Nước giải khát Hà Nội may provide stability and support for strategic decisions.
The high ownership concentration by a state-owned enterprise (SOE) may pose risks related to governance and transparency, particularly in the context of Vietnamese market practices.
Investors should exercise caution and consider avoiding HAT until there is clearer evidence of improved earnings quality and transparency. A thorough review of cash flow statements and receivables management is recommended.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for HAT — hover nodes for intel, click to navigate