VNI
Real EstateValuation Breakdown
Real estate developers in Vietnam report land banks at historical acquisition cost (Vietnamese Accounting Standards don't allow revaluation). This means book value severely understates true asset value. This model blends two approaches: an RNAV proxy (revalued net asset value, applying a 1.5x factor to book value) weighted 40%, and a DCF on normalized cash flows weighted 60%. Highly leveraged firms receive a +2% WACC penalty.
Valuation Track Record
Retroactive intrinsic value vs actual close price — VNI
Earnings Quality
Fiscal year 2024
Financial Forensics
Beneish M-Score · 2024
The stock VNI exhibits significant red flags indicating potential earnings manipulation, as evidenced by a Beneish M-Score of 75.8522, far exceeding the manipulation threshold of -1.78. Additionally, the earnings quality score of 34.6/100 suggests substantial issues with cash conversion and revenue recognition.
- Beneish M-Score of 75.8522 indicates a high likelihood of earnings manipulation.
- Earnings quality metrics show 0.0/100 for eq_cash_conv and eq_revenue, signaling severe cash flow and revenue recognition issues.
- DSRI of 0.0096 indicates low levels of inventory relative to sales, which is a positive sign in terms of operational efficiency.
- The receivables metric of 100.0/100 suggests effective credit management and collection practices.
The concentrated ownership structure, with the top five shareholders holding 59.2% of shares, raises concerns about governance and potential conflicts of interest, particularly in decision-making processes.
Investors should exercise caution and conduct further due diligence, particularly regarding cash flow and revenue recognition practices, before considering any investment in VNI.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VNI — hover nodes for intel, click to navigate