VTP
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 — VTP
Earnings Quality
Fiscal year 2025
Financial Forensics
Beneish M-Score · 2025
VTP exhibits several concerning indicators of potential earnings manipulation, particularly with a Beneish M-Score of -2.685, which is below the manipulation threshold of -1.78. While the earnings quality score is relatively strong at 64.0, the low receivables and revenue metrics raise significant red flags.
- Beneish M-Score of -2.685 indicates potential earnings manipulation, significantly below the threshold of -1.78.
- Earnings quality metrics show an alarming eq_receivables score of 18.5/100 and eq_revenue score of 0.0/100, suggesting issues with revenue recognition and collection.
- Strong cash conversion score of 100.0/100 indicates that the company is effectively converting its earnings into cash.
- The DSRI of 1.2276 suggests that inventory levels are being managed relatively well compared to sales.
The ownership structure is heavily concentrated, with 60.8% held by Tập đoàn Công nghiệp - Viễn thông Quân đội, which may lead to governance risks and potential conflicts of interest.
Investors should conduct further due diligence, particularly on revenue recognition practices, and consider monitoring cash flow closely before making any investment decisions.
Generated by AI based on quantitative data. Not financial advice.
Quantitative Scores
Key Ratios
Company Overview
// OWNERSHIP_NETWORK
> mapping common ownership for VTP — hover nodes for intel, click to navigate