PTM
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 — PTM
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
PTM exhibits several concerning financial metrics indicative of potential earnings manipulation, particularly highlighted by its Beneish M-Score of -0.0905, which is well above the manipulation threshold. Additionally, the low earnings quality score of 6.9/100, particularly the cash conversion score of 0.0/100, raises significant concerns about the sustainability of reported earnings.
- Beneish M-Score of -0.0905, indicating potential earnings manipulation as it is above the threshold of -1.78.
- Earnings Quality Score of 6.9/100, with an accrual score of 15.9/100 and cash conversion score of 0.0/100, suggesting poor earnings quality and potential overstatement of earnings.
- SGA ratio of 1.4803, indicating that selling, general, and administrative expenses are rising faster than sales, which could signal inefficiency or potential earnings management.
- DSRI of 0.6719, indicating that inventory is being managed effectively relative to sales, which is a positive operational signal.
- SGI of 0.9219 suggests that the company is not overextending itself in terms of growth, which could mitigate some risks associated with aggressive expansion.
The ownership structure is heavily concentrated, with the top shareholder holding 51.6% of the shares, which could lead to governance issues and potential conflicts of interest. The dominance of institutional and individual shareholders may limit minority shareholder influence.
Investors should exercise caution and conduct further due diligence before considering an investment in PTM, particularly focusing on cash flow sustainability and management practices. Monitoring future earnings reports for improvements in cash conversion and overall earnings quality is crucial.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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> mapping common ownership for PTM — hover nodes for intel, click to navigate