VGR
ConstructionValuation Breakdown
Construction and industrial firms have characteristics of both cyclical businesses (lumpy project-based revenue) and growth companies (expanding order books). This model blends two approaches 50/50: EV/EBITDA valuation (captures current earning power relative to peers) and FCF-based DCF (captures future cash generation potential). If EV/EBITDA produces a negative value (debt exceeds enterprise value), only DCF is used.
Valuation Track Record
Retroactive intrinsic value vs actual close price — VGR
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
VGR exhibits a Beneish M-Score of -2.9992, indicating low likelihood of earnings manipulation, as it is well below the manipulation threshold of -1.78. However, the earnings quality metrics reveal some concerns, particularly in revenue recognition, which could pose risks in the context of the Vietnamese market's accounting practices.
- The SGI of 1.0551 suggests that sales growth is slightly above the industry average, which could indicate aggressive revenue recognition.
- The eq_revenue score of 40.2/100 is notably low, raising concerns about the sustainability and accuracy of reported revenues.
- The earnings quality score of 80.6/100, combined with high scores in eq_accrual (89.2/100) and eq_cash_conv (87.6/100), indicates a strong ability to convert earnings into cash.
- Institutional ownership is high at 89.8%, which typically suggests a level of confidence in the company's governance and operational performance.
The high concentration of institutional ownership (Công ty Cổ phần Container Việt Nam at 54.4% and Evergreen Marine Corp. Ltd at 21.7%) may lead to potential governance risks, as decisions could be heavily influenced by a few stakeholders.
Investors should closely monitor revenue recognition practices and consider conducting further due diligence on the company's operational transparency. Engaging with management on earnings quality metrics could provide additional insights.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VGR — hover nodes for intel, click to navigate