PAC
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 — PAC
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
PAC exhibits several concerning indicators of potential earnings manipulation, as evidenced by its Beneish M-Score of -1.7918, which is just below the manipulation threshold. Additionally, the earnings quality score of 52.4 suggests significant weaknesses in cash conversion and revenue recognition, which could raise red flags for investors.
- Beneish M-Score of -1.7918 indicates potential earnings manipulation, being just below the threshold of -1.78.
- Earnings quality score of 52.4/100, particularly low cash conversion score of 0.0/100, raises concerns about the reliability of reported earnings.
- DSRI of 1.2629 suggests that accounts receivable are growing faster than revenue, indicating potential issues with revenue recognition.
- High receivables score of 100.0/100 indicates strong management of receivables, which is a positive aspect of PAC's operations.
- Ownership by Tập đoàn Hóa chất Việt Nam at 51.4% suggests a stable institutional backing, which could lend credibility to the company's governance.
The high concentration of ownership by Tập đoàn Hóa chất Việt Nam (51.4%) may pose risks related to governance and minority shareholder rights, potentially leading to decisions that favor majority interests.
Investors should proceed with caution, closely monitoring PAC's earnings reports and cash flow metrics. It may be prudent to wait for clearer signs of improved earnings quality and transparency before making significant investments.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for PAC — hover nodes for intel, click to navigate