SZB
Real EstateValuation Breakdown
Real estate developers in Vietnam report land banks at historical acquisition cost (Vietnamese Accounting Standards don't allow revaluation). This means book value severely understates true asset value. This model blends two approaches: an RNAV proxy (revalued net asset value, applying a 1.5x factor to book value) weighted 40%, and a DCF on normalized cash flows weighted 60%. Highly leveraged firms receive a +2% WACC penalty.
Valuation Track Record
Retroactive intrinsic value vs actual close price — SZB
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -2.8383 indicates a low likelihood of earnings manipulation, as it is well below the threshold of -1.78. However, the earnings quality score of 65.3/100 reveals weaknesses in receivables and revenue recognition, which could pose risks in financial reporting.
- Earnings quality score shows a concerning 0.0/100 in eq_revenue, indicating potential issues in revenue recognition.
- The eq_receivables score of 24.5/100 suggests significant risk in accounts receivable management, which may lead to cash flow issues.
- Beneish M-Score of -2.8383 indicates a low likelihood of earnings manipulation.
- High eq_accrual score of 95.4/100 suggests strong accrual accounting practices.
The top shareholders are primarily institutional, with the largest holding at 46.2%, which may provide stability. However, high concentration in a few institutions could lead to governance risks if their interests diverge.
Investors should closely monitor the company's receivables management and revenue recognition practices. Consider a cautious approach, potentially waiting for improvements in earnings quality metrics before making significant investments.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for SZB — hover nodes for intel, click to navigate