PV2
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 — PV2
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2020
The Beneish M-Score of 66.2869 significantly exceeds the manipulation threshold of -1.78, indicating a high likelihood of earnings manipulation. Coupled with a low Earnings Quality Score of 21.1/100 and concerning metrics such as a cash conversion rate of 0.0/100, this stock presents substantial risks for investors.
- Beneish M-Score of 66.2869 indicates likely earnings manipulation.
- Earnings Quality Score of 21.1/100 reflects poor earnings quality.
- Cash conversion rate of 0.0/100 suggests severe issues in converting earnings to cash.
- DSRI of 84.6456 indicates a potential decrease in inventory relative to sales, which could signal operational efficiency.
The ownership structure is heavily concentrated, with the top five shareholders holding over 80% of the shares, raising concerns about potential conflicts of interest and lack of minority shareholder protections.
Investors should exercise caution and consider avoiding this stock until clearer signs of financial stability and transparency emerge. Conducting further due diligence on management practices and financial disclosures is advisable.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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