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Construction sector

SCC

Construction
Công ty Cổ phần Thương mại Đầu tư SHB
Xây dựng và Vật liệuCT
2.200
VND · Last close
Valuation Verdict
Overvalued
Low
-120%Fair Value+120%
Intrinsic Value
157
Current
2.200
Gap
-92.8%
ModelEV EBITDA DCF BLEND

Valuation Breakdown

CTXây dựng và Vật liệuConstruction
Classified as construction because ICB sector "Xây dựng và Vật liệu" 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.

1
Weighted Avg Cost of Capital
Risk-Free (Rf)
4.50%
+
Betasector default
1.100
x
ERP
4.25%
+
CRP
2.75%
=
Cost of Equity (Ke)
12.20%
Ke
12.20%
x
E/(D+E)
80.56%
+
Kd(1-t)
6.40%
x
D/(D+E)
19.44%
=
WACC
11.07%
2
Growth Estimate
Sector Default3.00%
Growth decays 12%/yr toward terminal
3
Model Inputs
4
Valuation
50%EV/EBITDA Value
50%DCF Value
157
Blended Intrinsic
157
Value Decomposition
39%
61%
Explicit period (39%)Terminal value (61%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — SCC

Earnings Quality

Fiscal year 2024

45
Weak
Accrual Quality
92
Cash Conversion
9
Receivables
100
Margin Stability
0
Revenue Quality
0

Financial Forensics

Beneish M-Score · 2024

2.91
High Risk
DSRI
0.129
GMI
0.240
AQI
0.977
SGI
8.148
DEPI
0.703
SGAI
0.114
TATA
0.021
LVGI
0.976

SCC exhibits significant risks of earnings manipulation, as indicated by a Beneish M-Score of 2.909, well above the manipulation threshold of -1.78. Additionally, the company's earnings quality score of 45.1/100 highlights substantial weaknesses in cash conversion and revenue recognition, raising concerns about the reliability of reported earnings.

Red Flags
  • Beneish M-Score of 2.909 indicates a high likelihood of earnings manipulation.
  • Earnings Quality Score of 45.1/100, with eq_cash_conv at 8.8/100, suggests poor cash conversion relative to earnings.
Positive Signals
  • DSRI of 0.1294 indicates a low level of receivables relative to sales, which could suggest effective credit management.
  • High eq_receivables score of 100.0/100 indicates that the company is effectively managing its receivables.
Ownership Risk

The top shareholders hold a concentrated ownership structure, with the largest individual shareholder owning 39.2%. This concentration may lead to governance risks and potential conflicts of interest.

Recommendation

Investors should exercise caution and conduct further due diligence, particularly focusing on cash flow statements and revenue recognition practices before considering any investment in SCC.

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

Quantitative Scores

F-Score
7/9
Strong
Z-Score
1.12
Distress Zone
Sharpe
-0.30
Negative
Composite
23
Poor
Price Risk
Momentum
-11.1%
Volatility
127.5%
Max Drawdown
-64.3%

Key Ratios

Fiscal year 2024
17.45P/E
P/B0.51
P/S1.65
ROE3.0%
ROA2.4%
EPS154.72
BVPS5319.52
Gross Margin27.7%
Net Margin9.5%
D/E0.23
Current Ratio5.04
Rev Growth714.8%
Profit Growth149.3%
EV/EBITDA8.73
Div Yield0.0%

Company Overview

Issued Shares
4.9M
Charter Capital
48.8B VND
Sector (ICB L2)
Xây dựng và Vật liệu
Industry (ICB L3)
Xây dựng và Vật liệu
Sub-industry
Vật liệu xây dựng & Nội thất
Company Type
CT

// OWNERSHIP_NETWORK

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

Shareholders
Đỗ Văn Trường
Indiv
39.3%
1.9 trieu
Công ty Cổ Phần Đầu Tư Thương Mại Hưng Long Tỉnh Điện Biên
Inst
22.2%
1.1 trieu
Nguyễn Đức Thuận
Indiv
18.8%
900.000
Trần Thị Kim Thoa
Indiv
4.8%
91.100
Trần Đức Minh
Indiv
3.2%
60.700
Nguyễn Tự Hào
Indiv
0.9%
44.000
Trương Văn Hiển
Indiv
0.7%
13.800
Phạm Văn Cung
Indiv
0.6%
10.400
Nguyễn Công Thưởng
Indiv
0.5%
10.000
Phạm Trọng Quý
Indiv
0.3%
6.030
Nguyễn Văn Xuyên
Indiv
0.3%
5.000
Bùi Minh Lượng
Indiv
0.2%
4.700
Kiều Quang Thành
Indiv
0.2%
3.700
Board & Management
Nguyễn Tự Hào0.9%
Thành viên Hội đồng Quản trị
Bùi Văn Khải
Giám đốc
Nguyễn Thế Vinh
Giám đốc Kỹ thuật
Nguyễn Mạnh Hà
Phó Tổng Giám đốc Kỹ thuật
Nguyễn Văn Hưng
Chủ tịch Hội đồng Quản trị
Dương Đình Khôi
Thành viên Hội đồng Quản trị
Đặng Việt Dũng
Giám đốc Nhân sự
Đinh Văn Giao
Thành viên Ban kiểm soát
Vũ Tiến Hưng
Giám đốc Tài chính
Trần Anh Anh
Tổng Giám đốc
Trần Thị Oanh
Thành viên Ban kiểm soát
Phạm Thanh Dung
Kế toán trưởng
Nguyễn Cáp Tiến Đạt
Thành viên Ban kiểm soát
Computed 12/04/2026
Methodology & Disclosure

vnvalue is a methodology engine — not an advisor. Every number is the deterministic output of a published formula applied to public financial data. Nothing on this page constitutes investment, financial, legal, or tax advice, nor a recommendation to buy, sell, or hold any security.

All data, models, and outputs are provided AS IS without warranty of any kind. You are solely responsible for your investment decisions. Past performance and historical valuations are not indicative of future results.

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