MIE
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 — MIE
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
MIE exhibits several concerning indicators, particularly its high ownership concentration by the state at 99.6%, which may limit accountability and transparency. The Beneish M-Score of -2.6478 suggests a lower likelihood of earnings manipulation, but the earnings quality score of 56.7 indicates potential issues in cash conversion and revenue recognition.
- Earnings Quality Score of 56.7/100 indicates potential issues with cash conversion (0.0/100) and revenue recognition (12.7/100).
- High state ownership at 99.6% may lead to governance issues and lack of minority shareholder protection.
- Beneish M-Score of -2.6478 is below the manipulation threshold of -1.78, suggesting a lower likelihood of earnings manipulation.
- Strong accounts receivable quality score of 100.0/100 indicates effective collection processes.
The overwhelming state ownership at 99.6% raises concerns about governance and potential conflicts of interest, limiting the influence of minority shareholders.
Investors should closely monitor MIE's earnings quality metrics and governance practices, considering a cautious approach until improvements in cash conversion and revenue recognition are demonstrated.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for MIE — hover nodes for intel, click to navigate