TPC
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 — TPC
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
TPC exhibits several concerning indicators that suggest potential earnings manipulation, particularly with a Beneish M-Score of -3.7648, well below the manipulation threshold. While the earnings quality score of 65.1 indicates moderate quality, the low revenue quality score of 6.8 raises significant concerns about the sustainability of reported revenues.
- Beneish M-Score of -3.7648 indicates a high likelihood of earnings manipulation, significantly below the threshold of -1.78.
- Revenue quality score of 6.8/100 suggests serious issues with revenue recognition and sustainability.
- Strong cash conversion score of 100.0/100 indicates effective cash management despite revenue quality concerns.
- Low DSRI of 0.3759 suggests that inventory levels are well managed relative to sales, indicating operational efficiency.
The ownership structure is concentrated with significant stakes held by individual shareholders, which may lead to governance risks and potential conflicts of interest. The top two shareholders control over 27% of the company, raising concerns about minority shareholder rights.
Investors should exercise caution and conduct further due diligence, particularly focusing on revenue recognition practices and governance issues. Consider monitoring future earnings reports closely for signs of improvement or further deterioration.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for TPC — hover nodes for intel, click to navigate