ONW

Cyclicals

Công ty Cổ phần Dịch vụ Một Thế giới

Du lịch và Giải trí/Du lịch & Giải tríCT

3.600

VND · Last close

Valuation Verdict

Overvalued

Very Low

-120%Fair Value+120%

Intrinsic Value

Current

3.600

Gap

-98.8%

ModelEV EBITDA MIDCYCLE

Valuation Breakdown

CT→Du lịch và Giải trí→Cyclical

Classified as cyclical because ICB sector "Du lịch và Giải trí" maps to the cyclical group

ModelEV/EBITDA Mid-Cycle

Equity Value = Mid-Cycle EBITDA x Fair EV/EBITDA - Net Debt

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.

Distressed Valuation

Negative Ebitda Bvps Floor

BVPS

Discount

70%

Floor Value

Valuation Track Record

Retroactive intrinsic value vs actual close price — ONW

Earnings Quality

Fiscal year 2024

Weak

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

Financial Forensics

Beneish M-Score · 2018

-14.75

Low Risk

DSRI

0.025

GMI

-9.146

AQI

6.773

SGI

3.496

DEPI

0.667

SGAI

0.320

TATA

-2.224

LVGI

1.763

The Beneish M-Score of -14.7509 indicates a strong likelihood of earnings manipulation, significantly below the threshold of -1.78. Coupled with a low earnings quality score of 22.0/100, these factors suggest serious concerns regarding the financial integrity of ONW.

Red Flags

Beneish M-Score of -14.7509, well below the manipulation threshold of -1.78.
Earnings Quality Score of 22.0/100, indicating poor earnings quality and potential red flags in revenue recognition.
DSRI of 0.0247, suggesting significant discrepancies in receivables that may indicate aggressive revenue recognition practices.

Positive Signals

Receivables quality is perfect at 100.0/100, indicating that the company has no issues with collecting its receivables.
SGI of 3.4960 suggests strong sales growth, which could indicate potential for future revenue if managed properly.

Ownership Risk

The concentrated ownership structure, with five individuals holding over 20% each, raises concerns about governance and potential conflicts of interest. This could lead to decisions that prioritize personal interests over minority shareholders.

Recommendation

Investors should exercise caution and consider avoiding ONW until further transparency is provided regarding its financial practices. A thorough review of financial statements and governance structures is recommended before any investment.

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

Quantitative Scores

F-Score

3/9

Weak

Z-Score

0.59

Distress Zone

Sharpe

-0.15

Negative

Composite

Poor

Price Risk

Momentum

-7.9%

Volatility

108.3%

Max Drawdown

-37.9%

Key Ratios

Fiscal year 2024

16.23P/E

P/B57.38

P/S0.25

ROE-460.3%

ROA11.9%

EPS221.86

BVPS62.73

Gross Margin3.1%

Net Margin1.5%

D/E56.91

Current Ratio1.02

Profit Growth406.1%

EV/EBITDA15.57

Div Yield0.0%

Company Overview

Issued Shares

2.0M

Charter Capital

55.0B VND

Sector (ICB L2)

Du lịch và Giải trí

Industry (ICB L3)

Du lịch & Giải trí

Sub-industry

Dịch vụ giải trí

Company Type

// OWNERSHIP_NETWORK

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

Shareholders

Nguyễn Tuấn Anh

Indiv

24.5%

490.000

Vũ Hà Duy

Indiv

23.2%

1.3 trieu

Nguyễn Thị Thu Thủy

Indiv

21.8%

1.2 trieu

Nguyễn Thị Ngọc Mai

Indiv

21.8%

436.200

Trịnh Vũ Minh

Indiv

20.3%

1.1 trieu

Công ty TNHH Đầu Tư Và Quản Lý Hoàng Phúc

Inst

17.5%

350.000

Song LiWei

Indiv

4.8%

95.400

LƯƠNG MẠNH HÀ

Indiv

4.8%

95.000

nguyen-thi-hanh

Indiv

3.1%

62.075

Dương Thị Linh

Indiv

1.0%

20.700

Phạm Thị Phượng

Indiv

1.0%

20.000

Lương Thị Phương Thảo

Indiv

0.2%

4.000

Bùi Thị Hiên

Indiv

0.1%

2.000

Board & Management

Song LiWei4.8%

Chủ tịch Hội đồng Quản trị

Nguyễn Thị Hạnh3.1%

Thành viên Hội đồng Quản trị

Phạm Thị Phương1.0%

Trưởng Ban kiểm soát

Đỗ Mạnh Hùng

Thành viên Ban kiểm soát

Hồ Nhân

Thành viên Hội đồng Quản trị

Nguyễn Đồng

Tổng Giám đốc/Phó Chủ tịch Hội đồng Quản trị

Vũ Quốc Huân

Phó Tổng Giám đốc

Trần Thị Thanh Tâm

Kế toán trưởng

Nguyễn Thị Ngọc Ánh

Thành viên Ban kiểm soát

Top connections

HCT24.7%PHH24.5%ISG24.5%HAC24.5%KVC24.5%FDC24.5%AAV24.5%VCP24.5%CCL24.5%CID24.5%VIR24.5%NOS24.5%

Computed 12/04/2026