PID
ConstructionValuation Breakdown
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.
Valuation Track Record
Retroactive intrinsic value vs actual close price — PID
Earnings Quality
Fiscal year 2022
Financial Forensics
Beneish M-Score · 2017
PID exhibits significant risk of earnings manipulation as indicated by its Beneish M-Score of -2.5454, well below the threshold of -1.78. The earnings quality score of 30.6/100, particularly low accrual and cash conversion metrics, further raises concerns about the reliability of reported earnings.
- Beneish M-Score of -2.5454 indicates a high likelihood of earnings manipulation.
- Earnings quality score of 30.6/100, with particularly low eq_accrual (9.3/100) and eq_cash_conv (8.6/100) suggesting poor earnings reliability.
- SGI of 1.9136 indicates significant sales growth that may not be supported by cash flows, raising concerns about revenue recognition.
- High receivables quality score of 100.0/100 suggests that the company is effectively managing its receivables.
- Ownership by major institutions, including Tổng Công ty Cổ phần Xây lắp Dầu khí Việt Nam holding 50%, may provide some stability and oversight.
The concentrated ownership structure, with the largest shareholder holding 50%, poses a risk of governance issues and potential conflicts of interest, limiting minority shareholder influence.
Investors should exercise caution and conduct further due diligence, particularly regarding cash flow and revenue recognition practices. Consider monitoring for any changes in earnings quality metrics before making investment decisions.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for PID — hover nodes for intel, click to navigate