Overall Score

Revenue Model

AZTA generates revenue from laboratory and life-science products, with TTM revenue per share of 13.55 and price-to-sales of 2.52.

Gross margin remains solid at 44.0%, indicating the core product mix still supports a viable commercial model.

Profitability

TTM margins remain negative, with operating margin at -3.5% and net margin at -20.0%.

Returns are still weak, with ROA at -6.6%, ROE at -7.6%, and ROIC at -1.0%.

Cash Generation

Operating cash flow is positive but modest relative to scale, with OCF margin at 6.2% and OCF per share at 0.84.

Free cash flow conversion is weak, with FCF margin at 1.6% and FCF yield at 0.6%, while capex still consumes 74.0% of operating cash flow.

Balance Sheet

Liquidity remains healthy, with a current ratio of 2.50 and quick ratio of 2.21.

Leverage is low, with debt-to-equity at 0.04 and debt-to-assets at 2.9%, and cash per share of 7.19 provides a cushion.

Capital Efficiency

Asset turnover is modest at 0.33, suggesting the business still needs substantial assets to generate revenue.

Working capital efficiency is acceptable but not strong, with a cash conversion cycle of 127.6 days and operating cycle of 169.5 days.