VTB
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 — VTB
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2024
VTB exhibits a Beneish M-Score of -2.8155, indicating a low likelihood of earnings manipulation. However, the company's earnings quality metrics reveal significant weaknesses in revenue recognition, which could pose risks in financial reporting.
- The revenue quality score is notably low at 25.6/100, suggesting potential issues with revenue recognition practices.
- An earnings quality score of 89.5/100, with cash conversion metrics at 100.0/100, indicates strong cash flow generation relative to reported earnings.
The top shareholder, Tổng Công ty Cổ phần Điện tử và Tin học Việt Nam, holds a substantial 55.5% stake, which may lead to potential governance issues and reduced minority shareholder influence.
Investors should closely monitor revenue recognition practices and consider engaging with management for clarity on revenue generation strategies, while also weighing the strong cash flow metrics as a positive factor.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VTB — hover nodes for intel, click to navigate