VLS
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 — VLS
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
VLS exhibits several concerning financial metrics that suggest potential earnings manipulation, particularly with a Beneish M-Score of -0.528, which is above the manipulation threshold. The earnings quality score of 49.1 indicates significant weaknesses in cash conversion and margin, raising further red flags about the sustainability of reported earnings.
- Beneish M-Score of -0.528, indicating potential earnings manipulation as it is above the threshold of -1.78.
- Earnings Quality Score of 49.1/100, particularly low cash conversion score of 0.0/100, suggesting poor cash flow relative to earnings.
- SGI of 1.7324 indicates aggressive growth that may not be supported by underlying fundamentals.
- Receivables quality score of 100.0/100 suggests effective management of accounts receivable.
- DSRI of 1.0157 is close to 1, indicating that inventory growth is in line with sales growth, which is a positive sign.
The concentrated ownership structure, with Phạm Văn Giang holding 51.6%, poses a risk of potential conflicts of interest and reduced shareholder influence. This level of control can lead to decisions that may not align with minority shareholder interests.
Investors should exercise caution and consider a deeper analysis of VLS's cash flow and operational efficiency before making investment decisions. Monitoring future earnings reports for improvements in cash conversion and margin will be crucial.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
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> mapping common ownership for VLS — hover nodes for intel, click to navigate