SZL
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 — SZL
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -3.21 indicates a low likelihood of earnings manipulation, significantly below the threshold of -1.78. Additionally, the earnings quality score of 94.6/100 reflects strong performance across various metrics, suggesting robust financial health.
- Earnings Quality Score of 94.6/100 indicates strong overall earnings quality, particularly with cash conversion and revenue metrics at 100.0/100.
- Beneish M-Score of -3.21 suggests low risk of earnings manipulation, well below the manipulation threshold.
The ownership structure is heavily concentrated, with the top shareholder holding 52.7%, which may pose risks related to governance and decision-making transparency.
Investors should consider the strong earnings quality and low manipulation risk as positive indicators, but remain vigilant regarding the concentrated ownership structure and its potential impact on corporate governance.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for SZL — hover nodes for intel, click to navigate