SDC

Consumer

Công ty Cổ phần Tư vấn Sông Đà

Hàng & Dịch vụ Công nghiệp/Tư vấn & Hỗ trợ Kinh doanhCT

7.300

VND · Last close

Valuation Verdict

Undervalued

Low

-120%Fair Value+120%

Intrinsic Value

25.292

Current

7.300

Gap

+246.5%

ModelFCF DCF

Valuation Breakdown

CT→Hàng & Dịch vụ Công nghiệp→Consumer

Classified as consumer because ICB sector "Hàng & Dịch vụ Công nghiệp" maps to the consumer group

ModelFCF-Based DCF

Value = Sum of [FCF / (1+WACC)^t] + Terminal Value / (1+WACC)^n

A classic Discounted Cash Flow model built on Free Cash Flow (FCF), the actual cash a business generates after all operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted back to today's value using WACC. This is the gold standard of intrinsic valuation: it values the company based on what it can actually deliver to shareholders, independent of market sentiment.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.50%

Betasector default

1.000

ERP

4.25%

CRP

2.75%

Cost of Equity (Ke)

11.50%

E/(D+E)

58.58%

Kd(1-t)

5.90%

D/(D+E)

41.42%

WACC

10.00%

Growth Estimate

fundamental firm blend2.89%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→3.45B

Projection years→10

Valuation

Base FCF

3.45B

Growth Rate

2.89%

WACC

10.00%

Terminal Growth

4.00%

DCF Value

25.292

Value Decomposition

43%

57%

Explicit period (43%)Terminal value (57%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — SDC

Earnings Quality

Fiscal year 2025

Fair

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

100

ReceivablesDSO trend vs revenue growth

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Financial Forensics

Beneish M-Score · 2025

-2.88

Low Risk

DSRI

1.046

GMI

0.866

AQI

1.092

SGI

0.904

DEPI

1.068

SGAI

1.156

TATA

-0.051

LVGI

1.212

The Beneish M-Score of -2.8823 indicates a low likelihood of earnings manipulation, as it is below the manipulation threshold of -1.78. However, the earnings quality score of 59.9 suggests potential concerns, particularly in receivables and revenue recognition metrics, which could impact the reliability of reported earnings.

Red Flags

Earnings Quality Score of 59.9 indicates potential issues with revenue recognition, particularly with a score of 0.0/100 in eq_revenue.
High SGI of 0.9041 suggests slower sales growth relative to previous periods, which may indicate underlying demand issues.

Positive Signals

Beneish M-Score of -2.8823 suggests low likelihood of earnings manipulation, indicating a potentially reliable earnings report.
Strong cash conversion score of 100.0/100 indicates effective cash management despite lower overall earnings quality.

Ownership Risk

The majority ownership by Tổng Công ty Sông Đà (51.0%) indicates significant control over corporate governance, which can mitigate risks associated with minority shareholder interests but may also lead to potential conflicts of interest.

Recommendation

Investors should closely monitor revenue recognition practices and assess the sustainability of cash flows. Consider a cautious approach to investment until further clarity on sales growth and earnings quality is established.

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

Quantitative Scores

F-Score

6/9

Neutral

Z-Score

1.51

Distress Zone

Sharpe

-0.04

Negative

Composite

Strong

Price Risk

Momentum

+14.9%

Volatility

72.6%

Max Drawdown

-33.3%

Key Ratios

Fiscal year 2025

8.66P/E

P/B0.35

P/S0.28

ROE4.1%

ROA2.4%

EPS819.82

BVPS20134.68

Gross Margin21.2%

Net Margin3.2%

D/E0.83

Current Ratio1.87

Rev Growth-9.6%

Profit Growth28.2%

EV/EBITDA2.96

Div Yield0.0%

Company Overview

Issued Shares

2.6M

Charter Capital

26.1B VND

Sector (ICB L2)

Hàng & Dịch vụ Công nghiệp

Industry (ICB L3)

Tư vấn & Hỗ trợ Kinh doanh

Sub-industry

Tư vấn & Hỗ trợ KD

Company Type

// OWNERSHIP_NETWORK

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

Shareholders

Tổng Công ty Sông Đà

Inst

51.0%

1.3 trieu

Nguyễn Thị Mỹ Hương

Indiv

1.1%

27.666

Đinh Thị Nở

Indiv

0.6%

14.565

Phùng Hồng Quảng

Indiv

0.4%

11.000

Phạm Văn Hùng

Indiv

0.3%

8.743

Bùi Kim Khánh

Indiv

0.1%

2.909

Bùi Thị Kim Khánh

Indiv

0.1%

2.909

Board & Management

Phùng Hồng Quảng0.4%

Phó Tổng Giám đốc

Bùi Thị Kim Khánh0.1%

Trưởng Ban kiểm soát

Trần Thế Anh

Thành viên Ban kiểm soát

Cù Văn Vinh

Thành viên Hội đồng Quản trị

Lê Minh Quyết

Kế toán trưởng

Nguyễn Văn Hoằng

Phó Tổng Giám đốc/Thành viên Hội đồng Quản trị

Phạm Văn Mạnh

Chủ tịch Hội đồng Quản trị

Đinh Văn Duẩn

Thành viên Hội đồng Quản trị/Tổng Giám đốc

Đỗ Duy Tháp

Phó Tổng Giám đốc

Nguyễn Quỳnh Trang

Thành viên Ban kiểm soát

Đỗ Sơn Hải

Phó Tổng Giám đốc

Phạm Văn Tích

Phó Tổng Giám đốc

Top connections

SD465.0%SD665.0%SD564.2%SDT62.3%SD958.5%SD351.0%S1251.0%SD251.0%SDU51.0%SJE51.0%VCP51.0%GSM51.0%

Computed 12/04/2026