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Consumer sector

SSN

Consumer
Công ty Cổ phần Xuất nhập khẩu Thủy sản Sài Gòn
Thực phẩm và đồ uống/Sản xuất thực phẩmCT
1.200
VND · Last close
Valuation Verdict
Overvalued
Very Low
-120%Fair Value+120%
Intrinsic Value
22
Current
1.200
Gap
-98.1%
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)
41.58%
+
Kd(1-t)
1.48%
x
D/(D+E)
58.42%
=
WACC
10.00%
2
Growth Estimate
Sector Default4.00%
Growth decays 10%/yr toward terminal
3
Model Inputs
Base FCF28.93M
Projection years10
4
Valuation
Base FCF
28.93M
Growth Rate
4.00%
WACC
10.00%
Terminal Growth
4.00%
DCF Value
22
Value Decomposition
43%
57%
Explicit period (43%)Terminal value (57%)

Valuation Track Record

Retroactive intrinsic value vs actual close price — SSN

Earnings Quality

Fiscal year 2021

25
Poor
Accrual Quality
99
Cash Conversion
0
Receivables
0
Margin Stability
0
Revenue Quality
0

Financial Forensics

Beneish M-Score · 2021

-1.95
Moderate
DSRI
2.529
GMI
0.713
AQI
0.980
SGI
0.399
DEPI
0.812
SGAI
2.017
TATA
0.003
LVGI
0.998

The forensic assessment of SSN indicates significant risks related to potential earnings manipulation, as evidenced by a Beneish M-Score of -1.9523, which exceeds the manipulation threshold. Additionally, the earnings quality score of 24.7/100, particularly low cash conversion and revenue metrics, raises concerns about the reliability of reported earnings.

Red Flags
  • Beneish M-Score of -1.9523 indicates a strong likelihood of earnings manipulation, exceeding the threshold of -1.78.
  • Earnings Quality Score of 24.7/100, with cash conversion and revenue metrics at 0.0/100, suggests severe issues in earnings sustainability.
Positive Signals
  • DSRI of 2.5287 indicates a potential for revenue growth, although it may also reflect aggressive revenue recognition practices.
Ownership Risk

The ownership structure is highly concentrated, with the largest shareholder holding 25.0%, which could lead to governance risks and potential conflicts of interest in decision-making.

Recommendation

Investors should exercise caution and consider conducting further due diligence on SSN, particularly focusing on cash flow and revenue recognition practices before making investment decisions.

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

Quantitative Scores

F-Score
5/9
Neutral
Z-Score
0.84
Distress Zone
Sharpe
-0.24
Negative
Composite
7
Poor
Price Risk
Momentum
-31.3%
Volatility
88.5%
Max Drawdown
-41.2%

Key Ratios

Fiscal year 2021
1937.62P/E
P/B0.28
P/S7.95
ROE0.0%
ROA0.0%
EPS1.67
BVPS11408.40
Gross Margin32.1%
Net Margin0.4%
D/E1.40
Current Ratio1.26
Rev Growth-60.1%
Profit Growth14.4%
EV/EBITDA-42.46
Div Yield0.0%

Company Overview

Issued Shares
39.6M
Charter Capital
396.0B 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 SSN — hover nodes for intel, click to navigate

Shareholders
NGUYỄN NHÂN KIỆT
Indiv
25.0%
9.9 trieu
Nguyễn Trọng Trí
Indiv
8.1%
3.2 trieu
Võ Thị Thủy
Indiv
7.3%
700.000
Nguyễn Thị Tuyết Sương
Indiv
7.2%
693.505
Trần Minh Tính
Indiv
5.1%
2.0 trieu
Công ty Cổ phần Đầu Tư SPX
Inst
5.0%
2.0 trieu
Hàn Hồng Hạnh
Indiv
5.0%
2.0 trieu
Nguyễn Thị Vỹ Phượng
Indiv
5.0%
2.0 trieu
Nguyễn Khải Hưng
Indiv
4.8%
1.9 trieu
Nguyễn Lê Phan
Indiv
4.8%
1.9 trieu
Vũ Đức Tâm
Indiv
4.3%
1.7 trieu
nguyen-thi-hang
Indiv
3.9%
1.5 trieu
Nguyễn Ngọc Toàn
Indiv
1.2%
489.300
Lâm Thị Trang Nhã
Indiv
1.1%
419.300
Huỳnh Quang Thành
Indiv
1.0%
100.000
nguyen-duy-dung
Indiv
0.5%
51.000
Trần Việt Hà
Indiv
0.1%
13.300
Vũ Cao Trung
Indiv
0.1%
40.000
Board & Management
Nguyễn Trọng Trí8.1%
Trưởng Ban kiểm soát
Trần Thị Mai Thu
Kế toán trưởng
ĐỖ THỊ HỒNG
Phó Tổng Giám đốc/Thành viên Hội đồng Quản trị/Phụ trách Công bố thông tin
Dương Hỷ Phúc
Thành viên Ban kiểm soát
Trần Duy Bình
Chủ tịch Hội đồng Quản trị
Trần Thị Bích
Thành viên Ban kiểm soát
Lin Yi Huang
Thành viên Hội đồng Quản trị
Nguyễn Nam Định
Phó Tổng Giám đốc
TÔ NGỌC NGỜI
Thành viên Hội đồng Quản trị
Lại Tấn Cang
Tổng Giám đốc
Nguyễn Đình Quang
Thành viên Hội đồng Quản trị
Computed 12/04/2026
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