MDF
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 — MDF
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2020
MDF exhibits an elevated risk level primarily due to its Beneish M-Score of -3.8384, indicating a low likelihood of earnings manipulation. However, the earnings quality score of 73.8 suggests relatively strong cash conversion and receivables management, which mitigates some concerns.
- Beneish M-Score of -3.8384 indicates potential earnings manipulation risk, as it is well below the threshold of -1.78.
- Earnings quality metrics reveal a concerning eq_revenue score of 23.0/100, suggesting potential issues with revenue recognition.
- High cash conversion rate of 100.0/100 and receivables management score of 100.0/100 indicate strong operational efficiency.
- Low DSRI of 0.3419 suggests that the company is not significantly inflating its receivables relative to sales.
The ownership structure is heavily concentrated, with Tập đoàn Công nghiệp Cao su Việt Nam holding 84.9%, which may lead to governance risks and potential conflicts of interest.
Investors should closely monitor MDF's revenue recognition practices and consider diversifying their portfolio to mitigate risks associated with concentrated ownership.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for MDF — hover nodes for intel, click to navigate