PRT
Real EstateValuation Breakdown
Real estate developers in Vietnam report land banks at historical acquisition cost (Vietnamese Accounting Standards don't allow revaluation). This means book value severely understates true asset value. This model blends two approaches: an RNAV proxy (revalued net asset value, applying a 1.5x factor to book value) weighted 40%, and a DCF on normalized cash flows weighted 60%. Highly leveraged firms receive a +2% WACC penalty.
Valuation Track Record
Retroactive intrinsic value vs actual close price — PRT
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
PRT exhibits a concerning Beneish M-Score of -2.3115, indicating a low likelihood of earnings manipulation. However, the Earnings Quality Score of 61.7 suggests some strengths in accruals and margins, though cash conversion remains weak.
- Beneish M-Score of -2.3115, significantly below the manipulation threshold of -1.78.
- Earnings Quality Score of 14.2/100 for cash conversion, indicating poor cash flow relative to earnings.
- Strong receivables and margin scores of 100.0/100, indicating effective revenue collection and profitability.
The ownership structure is heavily dominated by state entities, with 61.0% held by the local government and 50.0% by the State Capital Investment Corporation, which may lead to potential conflicts of interest and reduced market-driven governance.
Investors should closely monitor cash flow metrics and consider the implications of state ownership on corporate governance. A cautious approach is advised until clearer signals of financial stability emerge.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for PRT — hover nodes for intel, click to navigate