VNS
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 — VNS
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
The Beneish M-Score of -3.0498 indicates a low likelihood of earnings manipulation, falling well below the manipulation threshold of -1.78. However, the earnings quality score of 59.4 suggests significant concerns, particularly with revenue recognition and margins, which may indicate underlying operational issues.
- Earnings quality margin score at 33.9/100 indicates weak profitability performance.
- Revenue recognition score at 0.0/100 raises concerns about the reliability of reported revenues.
- Beneish M-Score of -3.0498 suggests a low likelihood of earnings manipulation.
- Cash conversion score of 100.0/100 indicates strong cash flow relative to earnings.
The top shareholder, Đặng Phước Thành, holds 24.9%, which may lead to concentrated decision-making risks. However, the presence of institutional investors like TAEL Two Partners Ltd. (18.3%) adds a layer of oversight.
Investors should closely monitor earnings quality metrics, especially revenue recognition and margins, before making investment decisions. Consider engaging with management for clarity on operational strategies and revenue practices.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
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