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Consumer sector

SSC

Consumer
Công ty Cổ phần Giống cây trồng Miền Nam
Thực phẩm và đồ uống/Sản xuất thực phẩmCT
28.200
VND · Last close
Valuation Verdict
Undervalued
Low
-120%Fair Value+120%
Intrinsic Value
38.775
Current
28.200
Gap
+37.5%
ModelFCF DCF

Valuation Breakdown

CTThực phẩm và đồ uốngConsumer
Classified as consumer because ICB sector "Thực phẩm và đồ uống" 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.

1
Weighted Avg Cost of Capital
Risk-Free (Rf)
4.50%
+
Betasector default
0.800
x
ERP
4.25%
+
CRP
2.75%
=
Cost of Equity (Ke)
10.10%
Ke
10.10%
x
E/(D+E)
72.73%
+
Kd(1-t)
6.35%
x
D/(D+E)
27.27%
=
WACC
10.00%
2
Growth Estimate
fundamental firm blend3.58%
Growth decays 10%/yr toward terminal
3
Model Inputs
Base FCF31.90B
Projection years10
4
Valuation
Base FCF
31.90B
Growth Rate
3.58%
WACC
10.00%
Terminal Growth
4.00%
DCF Value
38.775
Value Decomposition
43%
57%
Explicit period (43%)Terminal value (57%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — SSC

Earnings Quality

Fiscal year 2025

54
Fair
Accrual Quality
93
Cash Conversion
100
Receivables
0
Margin Stability
34
Revenue Quality
0

Financial Forensics

Beneish M-Score · 2025

-2.82
Low Risk
DSRI
0.967
GMI
0.993
AQI
1.006
SGI
0.781
DEPI
1.003
SGAI
1.232
TATA
-0.016
LVGI
0.973

The Beneish M-Score of -2.8152 indicates that SSC is unlikely to be engaging in earnings manipulation, as it is well below the threshold of -1.78. However, the low earnings quality score of 53.5, particularly concerning receivables and revenue metrics, raises concerns about the sustainability of reported earnings.

Red Flags
  • Earnings Quality Score of 53.5/100, with 0.0/100 for eq_receivables and eq_revenue, indicating potential issues in revenue recognition and collection.
  • SGAI at 1.2316 suggests aggressive spending on sales and marketing, which may not translate into revenue growth.
Positive Signals
  • Beneish M-Score of -2.8152, indicating a lower likelihood of earnings manipulation.
  • Strong cash conversion score of 100.0/100, suggesting effective cash management.
Ownership Risk

The ownership structure is heavily concentrated, with the top shareholder holding 96.4% of shares, which poses significant risks related to governance and minority shareholder rights.

Recommendation

Investors should closely monitor SSC's revenue recognition practices and consider the implications of its concentrated ownership structure before making investment decisions.

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

Quantitative Scores

F-Score
6/9
Neutral
Z-Score
3.75
Safe Zone
Sharpe
-0.67
Negative
Composite
45
Weak
Price Risk
Momentum
-12.2%
Volatility
33.3%
Max Drawdown
-19.9%

Key Ratios

Fiscal year 2025
15.49P/E
P/B1.11
P/S1.40
ROE7.2%
ROA5.2%
EPS1820.77
BVPS25315.45
Gross Margin28.9%
Net Margin9.0%
D/E0.36
Current Ratio2.33
Rev Growth-20.5%
Profit Growth-35.8%
EV/EBITDA9.96
Div Yield0.0%

Company Overview

Issued Shares
15.0M
Charter Capital
149.9B VND
Sector (ICB L2)
Thực phẩm và đồ uống
Industry (ICB L3)
Sản xuất thực phẩm
Sub-industry
Nuôi trồng nông & hải sản
Company Type
CT

// OWNERSHIP_NETWORK

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

Shareholders
Công ty Cổ phần Tập đoàn Giống cây trồng Việt Nam
Inst
96.4%
12.8 trieu
Công ty Cổ phần Quản Lý Quỹ Sài Gòn
Inst
14.4%
2.2 trieu
Công ty Cổ phần Chứng khoán SSI
Inst
11.8%
1.6 trieu
Công ty Cổ phần Đầu tư Đường Mặt Trời
Inst
5.0%
738.700
Công ty TNHH Ndh Việt Nam
Inst
4.7%
703.550
Deutsche Asset Management (Asia) Limited
Inst
1.9%
281.555
Đinh Văn Bích
Indiv
1.9%
276.937
Hồ Văn Đoàn
Indiv
0.6%
86.690
Nguyễn Hoàng Tuấn
Indiv
0.3%
50.818
Ngô Văn Giáo
Indiv
0.3%
50.000
Dương Thành Tài
Indiv
0.3%
44.251
Phạm Quang Dương
Indiv
0.2%
35.890
Phan Sum
Indiv
0.2%
27.020
Board & Management
Bùi Quang Sơn
Thành viên Hội đồng Quản trị
Dương Quang Sáu
Thành viên Hội đồng Quản trị
Trần Kim Liên
Chủ tịch Hội đồng Quản trị
Văn Thị Ngọc Ánh
Thành viên Ban kiểm soát
Nguyễn Thị Thanh Hà
Thành viên Ban kiểm soát
Nguyễn Quốc Phong
Phó Tổng Giám đốc Kinh doanh
Hàng Phi Quang
Phó Chủ tịch Hội đồng Quản trị
Phan Thế Tý
Trưởng Ban kiểm soát
Lê Minh Chánh
Phó Tổng Giám đốc
Nguyễn Đình Nam
Thành viên Hội đồng Quản trị/Tổng Giám đốc
Lâm Tuấn Lạc
Kế toán trưởng
Computed 12/04/2026
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