TPS
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 — TPS
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -1.6452 indicates a low likelihood of earnings manipulation, as it is above the threshold of -1.78. However, the high DSRI of 1.5785 and SGI of 1.1296 suggest potential concerns regarding revenue recognition and growth sustainability.
- DSRI of 1.5785 indicates a significant increase in receivables relative to sales, which could signal aggressive revenue recognition practices.
- SGI of 1.1296 suggests that sales growth is outpacing the overall market, raising concerns about sustainability.
- Earnings Quality Score of 76.9/100 indicates overall strong earnings quality, particularly with a perfect score of 100.0/100 in receivables and margins.
- Beneish M-Score of -1.6452 is above the manipulation threshold, suggesting a lower risk of earnings manipulation.
The ownership structure shows a high concentration with the largest shareholder holding 51.0%, which may limit minority shareholder influence and increase risks associated with governance and decision-making.
Investors should closely monitor revenue recognition practices and assess the sustainability of growth given the high DSRI and SGI. It may be prudent to conduct further due diligence on management's strategies and market conditions.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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> mapping common ownership for TPS — hover nodes for intel, click to navigate