PLO

Construction

Công ty Cổ phần Kho vận Petec

Hàng & Dịch vụ Công nghiệp/Vận tảiCT

3.300

VND · Last close

Valuation Verdict

Undervalued

Low

-120%Fair Value+120%

Intrinsic Value

3.631

Current

3.300

Gap

+10.0%

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.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.50%

Betasector default

1.100

ERP

4.25%

CRP

2.75%

Cost of Equity (Ke)

12.20%

E/(D+E)

100.00%

Kd(1-t)

0.00%

D/(D+E)

0.00%

WACC

12.20%

Growth Estimate

fundamental firm blend11.42%

Growth decays 12%/yr toward terminal

Model Inputs

Valuation

50%EV/EBITDA Value

4.492

50%DCF Value

2.769

Blended Intrinsic

3.631

Value Decomposition

41%

59%

Explicit period (41%)Terminal value (59%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — PLO

Earnings Quality

Fiscal year 2023

Poor

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

ReceivablesDSO trend vs revenue growth

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2023

0.27

High Risk

DSRI

1.490

GMI

0.662

AQI

0.990

SGI

0.704

DEPI

0.578

SGAI

1.666

TATA

0.590

LVGI

0.552

PLO exhibits significant red flags indicating potential financial manipulation, as evidenced by a Beneish M-Score of 0.2691, which far exceeds the manipulation threshold of -1.78. Additionally, the company's earnings quality metrics are alarmingly low, with an Earnings Quality Score of 0.0/100 across all categories, suggesting severe issues in revenue recognition and cash conversion.

Red Flags

Beneish M-Score of 0.2691 indicates potential earnings manipulation, significantly above the threshold of -1.78.
Earnings Quality Score of 0.0/100 reveals critical deficiencies in accruals, cash conversion, receivables, margins, and revenue recognition.

Ownership Risk

The ownership structure is heavily concentrated, with the top shareholder holding 28.1%, which may lead to governance issues and reduced accountability. The presence of institutional investors could provide some level of oversight, but the dominance of a single entity raises concerns about minority shareholder rights.

Recommendation

Given the high risk of financial manipulation and poor earnings quality, it is advisable to exercise caution and consider avoiding investment in PLO until further transparency and improvements in financial reporting are demonstrated.

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

Quantitative Scores

F-Score

4/9

Neutral

Z-Score

-0.30

Distress Zone

Sharpe

0.11

Positive

Composite

Weak

Price Risk

Momentum

+53.8%

Volatility

109.0%

Max Drawdown

-52.3%

Key Ratios

Fiscal year 2023

2.20P/E

P/B3.20

P/S0.50

ROE531.3%

ROA48.5%

EPS2089.97

BVPS1438.33

Gross Margin18.9%

Net Margin22.7%

D/E1.69

Current Ratio0.41

Rev Growth-29.6%

Profit Growth530.5%

EV/EBITDA5.12

Div Yield0.0%

Company Overview

Issued Shares

7.2M

Charter Capital

71.9B VND

Sector (ICB L2)

Hàng & Dịch vụ Công nghiệp

Industry (ICB L3)

Vận tải

Sub-industry

Kho bãi, hậu cần và bảo dưỡng

Company Type

// OWNERSHIP_NETWORK

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

Shareholders

Tổng Công ty Thương mại Kỹ thuật và Đầu tư

Inst

28.1%

2.0 trieu

Công ty Cổ Phần Bất Động Sản Và Kỹ Thuật Xăng Dầu

Inst

11.1%

800.000

Huỳnh Xuân Hồng

Indiv

8.6%

618.487

Ngân hàng TNHH MTV Số Vikki

Inst

7.5%

540.000

Phạm Minh Thông

Indiv

0.7%

50.045

Lý Hoài Nam

Indiv

0.5%

35.000

Mai Huy Hoàng

Indiv

0.3%

20.000

Hoàng Minh Tuấn

Indiv

0.1%

11.102

Nguyễn Văn Lịch

Indiv

0.1%

7.661

Board & Management

Huỳnh Xuân Hồng8.6%

Giám đốc/Thành viên Hội đồng Quản trị

Lý Hoài Nam0.5%

Phó Giám đốc

Mai Huy Hoàng0.3%

Kế toán trưởng

Hoàng Minh Tuấn0.1%

Chủ tịch Hội đồng Quản trị

Vũ Anh Cường

Thành viên Hội đồng Quản trị

Bùi Minh Hiệp

Trưởng Ban kiểm soát

Hoàng Anh Tuấn

Thành viên Ban kiểm soát

Vũ Xuân Hiền

Thành viên Ban kiểm soát

Top connections

BMF28.1%EIB28.1%PEG11.1%SGC2 links BTW10.0%GDW10.0%NBW10.0%PJS10.0%L124.1%VTA4.0%YBM1.5%

Computed 12/04/2026