MTH

Consumer

Công ty Cổ phần Môi trường Đô thị Hà Đông

Hàng & Dịch vụ Công nghiệp/Tư vấn & Hỗ trợ Kinh doanhCT

25.000

VND · Last close

Valuation Verdict

Undervalued

Low

-120%Fair Value+120%

Intrinsic Value

90.770

Current

25.000

Gap

+263.1%

ModelFCF DCF

Valuation Breakdown

CT→Hàng & Dịch vụ Công nghiệp→Consumer

Classified as consumer because ICB sector "Hàng & Dịch vụ Công nghiệp" maps to the consumer group

ModelFCF-Based DCF

Value = Sum of [FCF / (1+WACC)^t] + Terminal Value / (1+WACC)^n

A classic Discounted Cash Flow model built on Free Cash Flow (FCF), the actual cash a business generates after all operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted back to today's value using WACC. This is the gold standard of intrinsic valuation: it values the company based on what it can actually deliver to shareholders, independent of market sentiment.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.50%

Betasector default

1.000

ERP

4.25%

CRP

2.75%

Cost of Equity (Ke)

11.50%

E/(D+E)

82.72%

Kd(1-t)

6.08%

D/(D+E)

17.28%

WACC

10.56%

Growth Estimate

fundamental firm blend3.87%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→25.38B

Projection years→10

Valuation

Base FCF

25.38B

Growth Rate

3.87%

WACC

10.56%

Terminal Growth

4.00%

DCF Value

90.770

Value Decomposition

46%

54%

Explicit period (46%)Terminal value (54%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — MTH

Earnings Quality

Fiscal year 2024

Good

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

100

ReceivablesDSO trend vs revenue growth

100

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2024

-3.27

Low Risk

DSRI

0.780

GMI

0.751

AQI

0.861

SGI

1.091

DEPI

0.779

SGAI

1.249

TATA

-0.096

LVGI

0.869

The Beneish M-Score of -3.2658 indicates a low likelihood of earnings manipulation, significantly below the threshold of -1.78. The earnings quality score of 79.6/100, combined with strong cash conversion metrics, suggests a solid operational performance.

Positive Signals

Beneish M-Score of -3.2658 indicates low likelihood of earnings manipulation.
Earnings Quality Score of 79.6/100 reflects strong operational performance, particularly in cash conversion (100.0/100) and receivables (100.0/100).

Ownership Risk

The ownership structure is concentrated, with the top shareholder being a state entity holding 25.5%, which may introduce political risk but also stability. The significant individual ownership (22.8% and 21.3%) suggests potential influence on management decisions.

Recommendation

Given the low risk of manipulation and strong earnings quality, consider a buy position, while monitoring the concentrated ownership for any potential governance issues.

Generated by AI based on quantitative data. Not financial advice.

Quantitative Scores

F-Score

7/9

Strong

Z-Score

3.65

Safe Zone

Sharpe

0.51

Positive

Composite

Strong

Price Risk

Momentum

+25.4%

Volatility

100.4%

Max Drawdown

-22.7%

Key Ratios

Fiscal year 2024

7.58P/E

P/B0.78

P/S0.64

ROE11.3%

ROA9.1%

EPS3179.39

BVPS29253.36

Gross Margin19.3%

Net Margin8.9%

D/E0.21

Current Ratio3.71

Rev Growth9.1%

Profit Growth41.2%

EV/EBITDA2.70

Div Yield8.7%

Company Overview

Issued Shares

4.8M

Charter Capital

47.9B VND

Sector (ICB L2)

Hàng & Dịch vụ Công nghiệp

Industry (ICB L3)

Tư vấn & Hỗ trợ Kinh doanh

Sub-industry

Chất thải & Môi trường

Company Type

// OWNERSHIP_NETWORK

> mapping common ownership for MTH — hover nodes for intel, click to navigate

Shareholders

Ủy Ban Nhân Dân Thành Phố Hà Nội

State

25.5%

1.2 trieu

Tô Anh Minh

Indiv

22.8%

1.1 trieu

Lại Duy Nam

Indiv

21.3%

1.0 trieu

america limited liability company

Inst

13.6%

651.624

Lưu Thị Hồng Tưởng

Indiv

3.1%

147.644

Đinh Vạn Tiến

Indiv

1.4%

66.818

Phạm Trung Thành

Indiv

1.2%

57.186

Vũ Thị Mai

Indiv

0.8%

20.779

Lê Thị Bích Hồng

Indiv

0.5%

22.751

Lê Thị Minh Hương

Indiv

0.4%

10.857

Nguyễn Viết Bính

Indiv

0.3%

8.403

Vũ Thị Viễn

Indiv

0.3%

6.968

Nguyễn Thị Bích Ngà

Indiv

0.2%

5.695

nguyen-van-tinh

Indiv

0.1%

6.463

Board & Management

Lưu Thị Hồng Tưởng3.1%

Trưởng Ban kiểm soát

Đinh Văn Tiến1.4%

Chủ tịch Hội đồng Quản trị

Phạm Trung Thành1.2%

Phụ trách Công bố thông tin/Thành viên Hội đồng Quản trị/Giám đốc

Lê Thị Bích Hồng0.5%

Kế toán trưởng

Lê Văn Phong

Thành viên Ban kiểm soát

Trần Văn Hùng

Thành viên Hội đồng Quản trị/Phó Giám đốc

Nguyễn Hoài Nam

Thành viên Hội đồng Quản trị

Nguyễn Thế Thành

Thành viên Hội đồng Quản trị

Trần Thị Hạnh

Thành viên Ban kiểm soát

Bùi Đinh Mạnh

Phó Giám đốc

Top connections

MES98.9%GH373.9%KTL66.0%DCH54.2%ILS45.0%TNV45.0%SGN25.0%WCS23.6%DNM22.7%IDV18.0%SSM17.1%SZL16.1%

Computed 12/04/2026