KIP
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 — KIP
Earnings Quality
Fiscal year 2024
Financial Forensics
Beneish M-Score · 2017
KIP exhibits several concerning indicators of potential earnings manipulation, as evidenced by a Beneish M-Score of 1.1399, which is above the manipulation threshold of -1.78. While the earnings quality score is relatively strong at 65.4/100, the significant discrepancy in receivables and revenue metrics raises red flags regarding the sustainability of reported earnings.
- Beneish M-Score of 1.1399 indicates potential earnings manipulation, exceeding the threshold of -1.78.
- Receivables quality score of 0.0/100 suggests severe issues in revenue recognition and collection practices.
- SGAI of 1.4702 indicates aggressive spending on sales and marketing, which may not translate into proportional revenue growth.
- Earnings quality score of 65.4/100 indicates overall decent earnings quality, particularly strong in margin (100.0/100) and accruals (99.4/100).
- Ownership concentration with Nguyễn Hoa Cương holding 41.6% may align interests with minority shareholders, potentially stabilizing governance.
The high concentration of ownership, particularly with Nguyễn Hoa Cương holding 41.6%, could lead to governance risks, as decisions may favor major shareholders over minority interests.
Investors should conduct further due diligence on KIP's revenue recognition practices and monitor future earnings reports closely. Consider a cautious approach to investment until clearer signals of financial stability and transparency emerge.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
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