HAX
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 — HAX
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
HAX exhibits significant red flags indicating potential earnings manipulation, as evidenced by a Beneish M-Score of -2.1085, which is below the manipulation threshold of -1.78. The company's earnings quality score of 14.7/100 and alarming metrics in cash conversion and receivables raise concerns about the reliability of reported earnings.
- Beneish M-Score of -2.1085 indicates potential earnings manipulation.
- Earnings Quality Score of 14.7/100 suggests severe issues with cash conversion and receivables, both at 0.0/100.
- DSRI of 1.2315 indicates that inventory levels are relatively consistent with sales, which could suggest stable operations.
The ownership structure is heavily concentrated, with the largest shareholder, Tập Đoàn Bưu Chính Viễn Thông Việt Nam, holding 32.6%. This concentration could lead to governance risks and potential conflicts of interest.
Investors should exercise caution and consider avoiding HAX until there is clearer evidence of improved earnings quality and transparency. Monitoring changes in the ownership structure and financial disclosures will be critical.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for HAX — hover nodes for intel, click to navigate