KSF
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 — KSF
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of 3.1295 significantly exceeds the manipulation threshold of -1.78, indicating a high likelihood of earnings manipulation. Additionally, the SGI of 8.1987 suggests aggressive revenue growth that may not be sustainable, raising concerns about the quality of reported earnings.
- Beneish M-Score of 3.1295 indicates likely earnings manipulation.
- SGI of 8.1987 suggests unsustainable revenue growth.
- Low eq_margin score of 55.1/100 raises concerns about profitability sustainability.
- High cash conversion score of 100.0/100 indicates strong cash flow relative to earnings.
- Ownership concentration with Đỗ Anh Tuấn holding 61.4% may align interests but also raises governance concerns.
The high concentration of ownership with Đỗ Anh Tuấn holding 61.4% could lead to potential governance issues, as minority shareholders may have limited influence over corporate decisions.
Investors should exercise caution and conduct further due diligence on KSF, particularly regarding revenue recognition practices and the sustainability of growth, before considering any investment.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for KSF — hover nodes for intel, click to navigate