TVN
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 — TVN
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
TVN exhibits several concerning indicators that suggest potential earnings manipulation, particularly given its Beneish M-Score of -2.1271, which is below the manipulation threshold of -1.78. Additionally, the earnings quality score of 44.9/100 indicates significant weaknesses in cash conversion and revenue recognition.
- Beneish M-Score of -2.1271 indicates potential earnings manipulation, significantly below the threshold of -1.78.
- Earnings Quality Score of 44.9/100, with cash conversion at 0.0/100, suggests poor earnings quality and potential issues in cash flow management.
- SGI of 1.2176 indicates aggressive growth which may not be supported by underlying fundamentals.
- Receivables quality score of 100.0/100 indicates strong management of receivables, which is a positive sign for liquidity.
- DSRI of 1.1334 is slightly above 1, which may indicate a manageable increase in inventory relative to sales.
The overwhelming state ownership (93.9%) raises concerns about governance and accountability, potentially leading to a lack of transparency in financial reporting.
Investors should exercise caution and conduct further due diligence, particularly focusing on cash flow statements and revenue recognition practices before considering any investment in TVN.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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> mapping common ownership for TVN — hover nodes for intel, click to navigate