VCA
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 — VCA
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The forensic assessment of VCA indicates significant risks, primarily due to its Beneish M-Score of -6.6158, which is well below the manipulation threshold of -1.78, suggesting potential earnings manipulation. Additionally, the earnings quality score of 39.3/100 reflects poor accruals and margins, raising concerns about the sustainability of reported earnings.
- Beneish M-Score of -6.6158 indicates strong likelihood of earnings manipulation.
- Earnings Quality Score of 39.3/100, with eq_accrual at 0.0/100 and eq_margin at 0.0/100, suggests significant issues with earnings sustainability.
- SGI of 0.7495 indicates a decrease in sales growth, which could suggest a conservative approach to revenue recognition.
- eq_receivables at 86.5/100 shows effective management of receivables, indicating some operational efficiency.
The ownership structure is heavily concentrated, with Bùi Tuấn Anh holding 65.0% of shares, which raises governance concerns and potential conflicts of interest. This level of concentration can lead to decisions that may not align with minority shareholders' interests.
Investors should exercise caution and conduct further due diligence before considering an investment in VCA, particularly focusing on the company's earnings quality and governance practices. Monitoring future earnings reports for signs of improvement in accruals and margins is essential.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VCA — hover nodes for intel, click to navigate