VFG
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 — VFG
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
VFG exhibits a Beneish M-Score of -1.5313, indicating a low likelihood of earnings manipulation, as it is above the threshold of -1.78. However, the earnings quality metrics reveal concerns, particularly in cash conversion and revenue recognition, which warrant careful monitoring.
- Earnings Quality Score of 58.9/100 indicates moderate quality, with a notably low eq_cash_conv of 32.4/100, suggesting potential issues in cash flow relative to reported earnings.
- The eq_revenue score of 0.0/100 raises significant concerns about revenue recognition practices, potentially indicating aggressive accounting policies.
- The DSRI of 1.4616 suggests that inventory growth is in line with sales growth, which is a positive indicator of operational efficiency.
- The high eq_receivables score of 100.0/100 indicates effective management of receivables, which is a strong signal of operational health.
The majority ownership by Công ty Cổ phần PAN Farm (51.2%) indicates a concentrated ownership structure, which can lead to governance risks and potential conflicts of interest.
Investors should closely monitor VFG's cash flow metrics and revenue recognition practices while considering a cautious approach to investment due to the moderate risk level and potential governance issues.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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