PSE
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 — PSE
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
PSE exhibits several concerning financial metrics, particularly a high DSRI of 2.2312 and a low TATA of 0.0464, indicating potential earnings manipulation risks. However, the earnings quality score of 63.0 suggests some level of operational integrity, albeit with significant cash conversion issues.
- DSRI of 2.2312 indicates a significant increase in receivables relative to sales, suggesting potential revenue recognition issues.
- TATA of 0.0464 is extremely low, indicating that the company's total accruals are minimal compared to its net income, which may signal aggressive accounting practices.
- The revenue quality score of 0.0/100 raises concerns about the sustainability of reported revenues.
- Earnings Quality Score of 63.0/100 indicates a moderate level of earnings integrity, particularly with receivables and margin metrics both scoring 100.0/100.
- The institution's ownership by Tổng Công ty Phân bón và Hóa chất Dầu khí at 75.0% suggests a strong commitment from a major player in the industry.
The high institutional ownership (75.0%) by a single entity may pose risks related to governance and decision-making, potentially limiting minority shareholder influence.
Investors should closely monitor PSE's financial disclosures and consider a cautious approach, focusing on cash flow metrics and revenue recognition practices before making investment decisions.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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> mapping common ownership for PSE — hover nodes for intel, click to navigate