SD9
ConstructionValuation Breakdown
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.
Valuation Track Record
Retroactive intrinsic value vs actual close price — SD9
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
SD9 exhibits a Beneish M-Score of -2.5464, indicating a low likelihood of earnings manipulation, as it is well below the threshold of -1.78. However, the earnings quality score of 66.7/100, particularly low revenue quality, raises concerns about the sustainability of reported earnings.
- Earnings quality margin score is only 22.7/100, suggesting potential issues with profitability sustainability.
- Revenue quality score is 0.0/100, indicating a complete lack of quality in revenue recognition, which is a significant concern.
- The DSRI of 0.6488 indicates that accounts receivable are growing slower than sales, which is a positive sign for cash flow.
- The cash conversion score of 100.0/100 suggests strong cash flow generation relative to earnings.
The top shareholder, Tổng Công ty Sông Đà, holds a substantial 58.5% stake, which may lead to governance risks and potential conflicts of interest, particularly in decision-making processes.
Investors should closely monitor revenue recognition practices and consider the implications of the ownership structure on corporate governance. A cautious approach is advised given the mixed signals regarding earnings quality.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for SD9 — hover nodes for intel, click to navigate