ND2
UtilitiesValuation Breakdown
The Dividend Discount Model values a stock based on its future dividend payments, discounted to present value. The 3-stage variant captures three phases of a company's life: high growth (years 1-3), a transition period where growth declines linearly (years 4-6), and a terminal stage of stable, perpetual growth (year 7+). As John D. Rockefeller said: "The only thing that gives me pleasure is to see my dividends coming in."
Valuation Track Record
Retroactive intrinsic value vs actual close price — ND2
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -2.0602 indicates a lower likelihood of earnings manipulation, as it is below the threshold of -1.78. However, the earnings quality metrics reveal significant weaknesses, particularly in revenue recognition and profit margins, raising concerns about the sustainability of reported earnings.
- Earnings Quality Score of 64.2/100 indicates moderate quality, with a concerning eq_margin score of 36.1/100, suggesting potential issues in profitability.
- The eq_revenue score of 0.0/100 highlights severe deficiencies in revenue recognition practices, which could indicate aggressive accounting or revenue manipulation.
- The eq_cash_conv and eq_receivables scores of 100.0/100 suggest strong cash conversion and effective receivables management, indicating operational efficiency.
The ownership structure is heavily concentrated, with Tổng Công ty Cổ phần Xuất nhập khẩu và Xây dựng Việt Nam holding 51.1% and Toyota Tsusho Corporation holding 35.0%. This concentration may lead to governance risks and potential conflicts of interest.
Investors should closely monitor earnings reports and revenue recognition practices, particularly given the low eq_revenue score. Consider a cautious approach to investment until there are improvements in earnings quality and transparency.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for ND2 — hover nodes for intel, click to navigate