TD6
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 — TD6
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
TD6 exhibits a Beneish M-Score of -2.4872, indicating a low likelihood of earnings manipulation, as it is well below the manipulation threshold of -1.78. However, the high Sales Growth Index (SGI) of 1.8112 raises concerns about sustainability in revenue growth, which could indicate aggressive revenue recognition practices.
- SGI of 1.8112 suggests aggressive growth that may not be sustainable, potentially leading to future earnings adjustments.
- Earnings Quality Score of 91.5/100, with perfect scores in cash conversion and receivables, indicates strong operational efficiency and cash flow management.
The majority ownership by Tập đoàn Công nghiệp Than - Khoáng sản Việt Nam at 65.0% presents a risk of potential conflicts of interest and less accountability to minority shareholders.
Monitor revenue growth closely due to the elevated SGI and consider a deeper analysis of revenue recognition practices to ensure sustainability. Maintain a cautious approach to investment until further clarity on growth drivers is established.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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> mapping common ownership for TD6 — hover nodes for intel, click to navigate