VNP
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 — VNP
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2024
VNP exhibits a Beneish M-Score of -4.4404, significantly below the manipulation threshold, indicating a low likelihood of earnings manipulation. However, the company's earnings quality metrics reveal potential concerns, particularly in revenue recognition and margin quality, which warrant further scrutiny.
- Earnings Quality Score of 74.6/100 indicates potential issues, particularly with eq_margin at 0.0/100 and eq_revenue at 45.0/100, suggesting weak revenue recognition practices.
- Beneish M-Score of -4.4404 suggests low likelihood of earnings manipulation, indicating a potentially stable financial reporting environment.
The state-owned enterprise (SOE) holds a dominant 65.8% stake, which may lead to potential conflicts of interest and limit minority shareholder influence, raising governance concerns.
Investors should closely monitor revenue recognition practices and consider engaging with management to address earnings quality concerns, while remaining cautious of the high state ownership concentration.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VNP — hover nodes for intel, click to navigate