ITC
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 — ITC
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -2.8132 indicates a low likelihood of earnings manipulation, as it is below the threshold of -1.78. However, the Earnings Quality Score of 63.0/100, particularly low revenue quality (0.0/100), raises concerns about the sustainability of reported earnings.
- SGI of 1.2878 suggests aggressive growth strategies that may not be supported by underlying fundamentals.
- EQ margin score of 11.7/100 indicates significant issues with profitability relative to revenue.
- DSRI of 0.7918 indicates that inventory levels are well-managed relative to sales, suggesting operational efficiency.
- High cash conversion (100.0/100) and receivables quality (100.0/100) imply strong cash flow management.
The top shareholders include significant institutional and state ownership, which may provide stability but also raises concerns about potential influence on governance and transparency.
Investors should closely monitor revenue generation and profitability metrics, given the low revenue quality score, and consider a cautious approach until clearer operational performance emerges.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for ITC — hover nodes for intel, click to navigate