VBH
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 — VBH
Earnings Quality
Fiscal year 2024
Financial Forensics
Beneish M-Score · 2020
VBH shows potential red flags for earnings manipulation, as indicated by its Beneish M-Score of -2.2013, which is below the manipulation threshold. However, the company's earnings quality score of 71.2/100 suggests a reasonable level of earnings integrity, particularly in cash conversion metrics.
- Beneish M-Score of -2.2013 indicates potential earnings manipulation, significantly below the threshold of -1.78.
- DSRI of 2.1335 suggests that days sales receivable is increasing, which could indicate revenue recognition issues.
- Low eq_receivables score of 6.3/100 raises concerns about the quality of receivables and potential collection issues.
- Earnings quality score of 71.2/100 indicates a generally strong earnings profile.
- High eq_cash_conv score of 100.0/100 shows effective cash conversion from earnings.
- SGI of 0.8630 indicates that sales growth is stable, which is a positive sign in the context of the Vietnamese market.
The ownership structure is heavily concentrated, with 51.0% held by Tổng Công ty Cổ phần Điện tử và Tin học Việt Nam, which may lead to governance risks and limited minority shareholder influence.
Investors should closely monitor VBH's receivables and revenue recognition practices while considering a cautious approach due to the elevated risk of earnings manipulation. Engaging with management for clarity on financial practices is advisable.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VBH — hover nodes for intel, click to navigate