VST
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 — VST
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
VST exhibits several concerning indicators that suggest potential earnings manipulation, particularly with a Beneish M-Score of -0.1665, which is well above the manipulation threshold of -1.78. The earnings quality score of 30.7/100, especially the zero scores in receivables, margin, and revenue metrics, raises significant red flags regarding the company's financial integrity.
- Beneish M-Score of -0.1665 indicates potential earnings manipulation, as it is above the threshold of -1.78.
- Earnings Quality Score of 30.7/100 is low, with eq_receivables, eq_margin, and eq_revenue all scoring 0.0/100, suggesting poor earnings quality.
- GMI of 5.3838 indicates a significant increase in gross margin, which may be unsustainable and a potential sign of aggressive accounting practices.
- DSRI of 0.3827 suggests that accounts receivable are well managed relative to sales, which could indicate a lower risk of revenue recognition issues.
- SGI of 1.0588 indicates modest sales growth, which is a positive sign in the context of the Vietnamese market.
The ownership structure shows significant institutional control, with Tổng Công ty Hàng hải Việt Nam holding 43.3%, which may provide stability but also raises concerns about potential conflicts of interest and lack of minority shareholder protection.
Investors should exercise caution and closely monitor VST's financial disclosures and performance metrics. It may be prudent to wait for improved earnings quality indicators and transparency before considering any investment.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VST — hover nodes for intel, click to navigate