MAS
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 — MAS
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -1.7373 is just above the manipulation threshold of -1.78, suggesting a moderate risk of earnings manipulation. However, the strong earnings quality score of 89.4/100, particularly in cash conversion and revenue metrics, indicates a solid operational performance.
- DSRI of 1.6710 indicates potential issues with inventory management, as it is significantly above 1.0.
- GMI of 1.0827 suggests a decline in gross margin, which could indicate pricing pressure or rising costs.
- Earnings quality score of 89.4/100 reflects strong cash conversion and receivables management, which are positive indicators of financial health.
- The high revenue quality score of 100.0/100 suggests that revenue reported is likely to be realized in cash, reducing concerns over revenue recognition practices.
The largest shareholder, Tổng Công ty Hàng không Việt Nam, holds 36.1%, which could lead to potential conflicts of interest or influence over management decisions. However, the diverse individual ownership among other shareholders may mitigate some risks associated with concentrated ownership.
Investors should monitor the company's inventory management and gross margin trends closely. Given the strong earnings quality metrics, consider holding or accumulating shares while remaining vigilant about any signs of financial manipulation.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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> mapping common ownership for MAS — hover nodes for intel, click to navigate