PCT

Construction

Công ty Cổ phần Vận tải Biển Global Pacific

Hàng & Dịch vụ Công nghiệp/Vận tảiCT

10.500

VND · Last close

Valuation Verdict

Overvalued

Low

-120%Fair Value+120%

Intrinsic Value

7.113

Current

10.500

Gap

-32.3%

ModelEV EBITDA DCF BLEND

Valuation Breakdown

CT→Hàng & Dịch vụ Công nghiệp→Construction

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

ModelEV/EBITDA + DCF Blend

Intrinsic = 50% x EV/EBITDA Value + 50% x DCF Value

Construction and industrial firms have characteristics of both cyclical businesses (lumpy project-based revenue) and growth companies (expanding order books). This model blends two approaches 50/50: EV/EBITDA valuation (captures current earning power relative to peers) and FCF-based DCF (captures future cash generation potential). If EV/EBITDA produces a negative value (debt exceeds enterprise value), only DCF is used.

Distressed Valuation

Negative Enterprise Value

BVPS

14.226

Discount

50%

Floor Value

14.226

Valuation Track Record

Retroactive intrinsic value vs actual close price — PCT

Earnings Quality

Fiscal year 2025

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

100

Financial Forensics

Beneish M-Score · 2024

-0.03

High Risk

DSRI

3.541

GMI

0.806

AQI

2.258

SGI

1.319

DEPI

0.823

SGAI

1.442

TATA

-0.088

LVGI

1.219

PCT exhibits several concerning indicators of potential earnings manipulation, particularly highlighted by a high DSRI of 3.5414 and a low Beneish M-Score of -0.0332, which suggests a risk of financial misrepresentation. However, the earnings quality score of 61.5/100, particularly strong cash conversion metrics, indicates some operational strengths.

Red Flags

DSRI of 3.5414 indicates a significant increase in receivables relative to sales, raising concerns about revenue recognition practices.
GMI of 0.8063 suggests declining gross margins, which may indicate potential issues with cost management or pricing power.

Positive Signals

Earnings Quality Score of 61.5/100, with a perfect cash conversion score of 100.0/100, indicates strong cash flow generation capabilities.
The ownership structure is concentrated among a few individuals, which can lead to aligned interests and potentially more stable governance.

Ownership Risk

The high concentration of ownership among a small group of individuals (over 22% each) may lead to governance risks, including potential conflicts of interest and lack of accountability.

Recommendation

Investors should closely monitor PCT's financial disclosures for signs of revenue manipulation and consider engaging with management regarding their revenue recognition policies. A cautious approach is advised due to the elevated risk signals.

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

Quantitative Scores

F-Score

3/9

Weak

Z-Score

0.38

Distress Zone

Sharpe

-0.40

Negative

Composite

Weak

Price Risk

Momentum

-35.7%

Volatility

66.5%

Max Drawdown

-40.3%

Key Ratios

Fiscal year 2025

9.92P/E

P/B0.77

P/S0.75

ROE8.1%

ROA2.2%

EPS1108.63

BVPS14226.10

Gross Margin28.2%

Net Margin7.6%

D/E3.28

Current Ratio0.35

Rev Growth36.0%

Profit Growth-36.8%

EV/EBITDA6.41

Div Yield0.0%

Company Overview

Issued Shares

50.0M

Charter Capital

500.4B VND

Sector (ICB L2)

Hàng & Dịch vụ Công nghiệp

Industry (ICB L3)

Vận tải

Sub-industry

Dịch vụ vận tải

Company Type

// OWNERSHIP_NETWORK

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

Shareholders

Cao Đức Sơn

Indiv

23.6%

11.8 trieu

Trần Thị Thu Hà

Indiv

22.3%

11.2 trieu

Trần Vọng Phúc

Indiv

22.1%

11.1 trieu

Đặng Nguyên Đăng

Indiv

21.6%

10.8 trieu

Trần Xuân Thành

Indiv

19.6%

4.5 trieu

Nguyễn Duyên Hiếu

Indiv

6.5%

1.5 trieu

Công ty Cổ phần SCI

Inst

4.8%

1.1 trieu

Ngân hàng Thương mại Cổ phần Đại chúng Việt Nam

Inst

4.6%

1.1 trieu

Nguyễn Hồng Hiệp

Indiv

4.5%

2.3 trieu

Công ty Cổ phần Quản Lý Quỹ Việt Cát

Inst

4.2%

964.100

Công ty Cổ phần Thương mại và Vận tải Sông Đà

Inst

0.4%

103.220

Board & Management

Đặng Nguyên Đăng21.6%

Phó Giám đốc/Thành viên Hội đồng Quản trị

Vũ Thị Thanh Thanh

Thành viên Ban kiểm soát

Đào Ngọc Mai

Thành viên Ban kiểm soát

Nguyễn Thị Hồng Thuý

Chủ tịch Hội đồng Quản trị

Võ Ngọc Phụng

Giám đốc/Thành viên Hội đồng Quản trị

Nguyễn Thị Ngọc Đẹp

Kế toán trưởng

Nguyễn Diệu Hoa

Phụ trách Công bố thông tin

Lê Thị Mai

Trưởng Ban kiểm soát

Top connections

FUETPVND85.7%SCI55.5%PSI2 links TGP24.3%XHC22.3%PRT22.3%TMG22.3%C4G22.3%PNJ22.3%TNG22.3%MED22.3%KOS22.3%

Computed 12/04/2026