VPA
ConstructionValuation Breakdown
Construction and industrial firms have characteristics of both cyclical businesses (lumpy project-based revenue) and growth companies (expanding order books). This model blends two approaches 50/50: EV/EBITDA valuation (captures current earning power relative to peers) and FCF-based DCF (captures future cash generation potential). If EV/EBITDA produces a negative value (debt exceeds enterprise value), only DCF is used.
Valuation Track Record
Retroactive intrinsic value vs actual close price — VPA
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2023
The forensic assessment of VPA reveals significant risks associated with earnings manipulation and poor earnings quality metrics. The Beneish M-Score of -6.7875 indicates a high likelihood of manipulation, compounded by a low earnings quality score of 33.3/100, suggesting substantial concerns regarding the company's financial reporting integrity.
- Beneish M-Score of -6.7875 indicates likely manipulation, well below the threshold of -1.78.
- Earnings Quality Score of 33.3/100, with particularly weak revenue and margin metrics (both 0.0/100), raises concerns about the sustainability of reported earnings.
- High SGI of 1.6591 suggests aggressive revenue growth that may not be supported by cash flow.
- DSRI of 0.1778 indicates a lower risk of inventory manipulation, suggesting better inventory management.
- DEPI of 0.9228 indicates a relatively stable depreciation policy, which may reflect conservative asset valuation.
The ownership structure is heavily concentrated, with Tập đoàn Xăng dầu Việt Nam holding 58.0% and other institutions holding significant stakes. This concentration may lead to governance risks and potential conflicts of interest, particularly in the context of state-owned enterprises.
Investors should exercise caution and consider conducting further due diligence before investing in VPA, particularly focusing on cash flow analysis and management practices. Monitoring future earnings reports and changes in ownership dynamics will be crucial.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VPA — hover nodes for intel, click to navigate