MDC
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 — MDC
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
MDC exhibits a Beneish M-Score of -3.096, indicating a lower likelihood of earnings manipulation. However, the earnings quality score of 77.1 suggests some concerns, particularly with revenue recognition, which scored 0.0, raising potential red flags regarding revenue integrity.
- Earnings Quality Score of 0.0 for revenue indicates significant issues with revenue recognition.
- Beneish M-Score of -3.096, while below the manipulation threshold, still warrants caution given the context of Vietnamese SOEs and conglomerates.
- Strong cash conversion score of 100.0 indicates effective cash management.
- Low DSRI of 0.6660 suggests that inventory levels are well managed relative to sales.
The top shareholder, Tập đoàn Công nghiệp Than - Khoáng sản Việt Nam, holds a significant 65.0% stake, which may lead to potential conflicts of interest and reduced minority shareholder influence.
Investors should closely monitor revenue recognition practices and consider engaging with management regarding transparency in financial reporting. A cautious approach is advised given the elevated risk profile.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for MDC — hover nodes for intel, click to navigate