HLC
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 — HLC
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
HLC demonstrates a low risk of financial manipulation according to its Beneish M-Score of -3.3085, significantly below the manipulation threshold. The earnings quality score of 89.8/100 indicates strong performance in cash conversion and receivables management, although revenue recognition remains a concern.
- The revenue quality score is notably low at 41.4/100, suggesting potential issues in revenue recognition practices.
- The earnings quality score of 89.8/100, particularly high cash conversion (100.0/100) and receivables management (100.0/100), indicates strong operational efficiency.
The ownership structure is heavily concentrated, with Tập đoàn Công nghiệp Than - Khoáng sản Việt Nam holding 74.2%, which could lead to potential governance risks and reduced minority shareholder influence.
Investors should monitor revenue recognition practices closely due to the low revenue quality score while considering the strong cash conversion metrics as a positive indicator of operational health.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for HLC — hover nodes for intel, click to navigate