LAS
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 — LAS
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2024
The Beneish M-Score of -2.5805 indicates a lower likelihood of earnings manipulation, as it is below the threshold of -1.78. However, the earnings quality score of 51.0 suggests moderate concerns, particularly due to a cash conversion score of 0.0, which raises red flags regarding cash flow management.
- Cash conversion score of 0.0 indicates severe issues in converting earnings into cash, which is critical for operational sustainability.
- Earnings quality score of 51.0 shows that while there are strengths, the overall quality of earnings is only moderate, with revenue quality at 46.6 indicating potential revenue recognition issues.
- Beneish M-Score of -2.5805 suggests a lower likelihood of earnings manipulation, which is a positive signal for investors.
- Receivables quality score of 100.0 indicates that the company is effectively managing its receivables, which is a strong point in its earnings quality.
The high ownership concentration of 69.8% by Tập đoàn Hóa chất Việt Nam may pose risks related to governance and minority shareholder rights, potentially limiting transparency and accountability.
Investors should closely monitor cash flow trends and consider the implications of the ownership structure on governance. A cautious approach is recommended until there are clear improvements in cash conversion and overall earnings quality.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for LAS — hover nodes for intel, click to navigate