NBB
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 — NBB
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
NBB's Beneish M-Score of -1.4854 suggests a low likelihood of earnings manipulation, as it is above the manipulation threshold of -1.78. However, the earnings quality score of 25.4/100 indicates significant concerns regarding cash conversion and receivables, which may signal underlying financial issues.
- Earnings Quality Score of 25.4/100 indicates poor earnings quality, particularly with cash conversion at 0.0/100.
- High DSRI of 1.4597 suggests that accounts receivable are growing faster than revenue, which may indicate potential collection issues.
- Beneish M-Score of -1.4854 is above the manipulation threshold, indicating a lower risk of earnings manipulation.
- Strong institutional ownership with top shareholders holding over 80% of shares, which may provide stability.
The high concentration of ownership among a few institutions (over 80%) may lead to governance risks, as minority shareholders have limited influence on corporate decisions.
Investors should closely monitor cash flow metrics and receivables management, while considering the strong institutional backing as a stabilizing factor in their investment decision.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for NBB — hover nodes for intel, click to navigate