VIF
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 — VIF
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
VIF's Beneish M-Score of -2.2828 suggests a low likelihood of earnings manipulation, as it is below the threshold of -1.78. However, the earnings quality score of 63.0 indicates potential concerns, particularly in cash conversion and revenue recognition.
- Earnings Quality Score of 63.0 is below the industry average, indicating potential issues with earnings sustainability.
- Cash conversion metric at 25.7/100 raises concerns about the company's ability to convert earnings into actual cash flow.
- Beneish M-Score of -2.2828 indicates a low likelihood of earnings manipulation.
- Receivables and margin metrics both at 100.0/100 suggest strong performance in these areas.
The ownership structure is heavily concentrated with state entities holding 51.0%, which may limit minority shareholder influence and raise concerns about governance practices.
Investors should closely monitor cash flow metrics and revenue recognition practices, while considering the potential stability offered by state ownership.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VIF — hover nodes for intel, click to navigate