MBT
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 — MBT
Earnings Quality
Fiscal year 2024
Financial Forensics
Beneish M-Score · 2024
The Beneish M-Score of -2.39 indicates a lower likelihood of earnings manipulation, as it is below the threshold of -1.78. However, the Earnings Quality Score of 36.6/100, particularly the 0.0/100 in cash conversion and revenue metrics, raises concerns about the sustainability of earnings.
- Earnings Quality Score of 36.6/100 indicates significant issues with cash conversion and revenue recognition.
- Cash conversion score of 0.0/100 suggests potential liquidity problems or aggressive accounting practices.
- Beneish M-Score of -2.39 suggests a lower likelihood of manipulation compared to the threshold of -1.78.
- Receivables quality score of 100.0/100 indicates strong management of receivables.
The ownership structure is fragmented with no single shareholder holding a significant controlling stake, which may lead to governance challenges and potential conflicts of interest.
Investors should closely monitor cash flow performance and earnings sustainability before considering an investment in MBT, while also assessing the impact of fragmented ownership on corporate governance.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for MBT — hover nodes for intel, click to navigate