SDK
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 — SDK
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
SDK exhibits a concerning Beneish M-Score of -3.599, indicating a low likelihood of earnings manipulation. However, the earnings quality metrics reveal significant weaknesses, particularly in accruals and receivables, which could point to potential financial distress.
- Earnings Quality Score of 50.5/100, with a notably low eq_accrual of 29.6/100, suggesting potential issues with earnings sustainability.
- Receivables score at 27.2/100 indicates poor management of receivables, which could lead to cash flow problems.
- Cash conversion score of 100.0/100 indicates strong cash flow generation relative to earnings, which is a positive sign for liquidity.
The ownership structure is heavily concentrated, with the top shareholder, Tổng Công ty Thép Việt Nam, holding 45%. This could pose risks related to governance and decision-making, particularly if interests diverge from minority shareholders.
Investors should closely monitor SDK's earnings quality and cash flow management. It may be prudent to adopt a cautious approach, considering the elevated risk signals, while keeping an eye on potential improvements in operational metrics.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for SDK — hover nodes for intel, click to navigate