VNG
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 — VNG
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
VNG exhibits a Beneish M-Score of -2.7248, indicating a low likelihood of earnings manipulation. However, its earnings quality metrics reveal significant concerns, particularly in revenue recognition and margin quality, which could pose risks in financial reporting.
- Earnings Quality Score of 61.6/100, with eq_revenue at 0.0/100, indicating potential issues in revenue recognition.
- Low eq_margin score of 21.7/100 suggests poor profitability relative to revenue, raising concerns about operational efficiency.
- Beneish M-Score of -2.7248 is well below the manipulation threshold of -1.78, suggesting a lower risk of earnings manipulation.
- High eq_cash_conv score of 100.0/100 indicates strong cash conversion from earnings, which is a positive sign for liquidity.
The ownership structure is heavily concentrated among institutional investors, with the top three holding over 70% of shares. This concentration may lead to governance risks and potential conflicts of interest.
Investors should closely monitor VNG's revenue recognition practices and operational efficiency metrics. Consider a cautious approach until improvements in earnings quality are evident.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VNG — hover nodes for intel, click to navigate