VSM
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 — VSM
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
VSM exhibits several concerning indicators suggesting potential earnings manipulation, particularly with a Beneish M-Score of -1.9922, which is below the manipulation threshold. While the earnings quality score is relatively strong at 64.4, the low cash conversion rate of 37.7 raises significant concerns about the sustainability of reported earnings.
- Beneish M-Score of -1.9922 indicates potential earnings manipulation, as it is below the threshold of -1.78.
- Earnings quality cash conversion score of 37.7/100 suggests poor cash generation relative to reported earnings.
- High receivables score of 100.0/100 indicates effective management of accounts receivable.
- Strong margin score of 100.0/100 suggests robust profitability relative to revenue.
The top shareholder, Công ty Cổ phần Container Việt Nam, holds a significant 65.0% stake, which may lead to potential conflicts of interest and reduced minority shareholder influence.
Investors should conduct further due diligence, particularly focusing on cash flow statements and operational metrics, before considering any investment in VSM due to elevated risks of earnings manipulation.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VSM — hover nodes for intel, click to navigate