Overall Score

Revenue Model

The company appears to generate revenue from a low-price, high-turnover operating model, with TTM revenue per share of 1.73 and price-to-sales of 0.50.

Gross margin is 31.6%, indicating the core product/service still leaves room for overhead absorption, but profitability remains weak at the operating line.

Profitability

TTM operating margin is -12.2% and net margin is -12.5%, showing the business is still not converting sales into profit.

Returns remain negative across the board, including ROA of -13.2%, ROE of -24.4%, and ROIC of -25.9%.

Cash Generation

Reported operating cash flow and free cash flow are effectively zero in TTM metrics, limiting evidence of durable cash generation.

Free cash flow yield and operating cash flow ratios are also zero, suggesting cash conversion is not yet established.

Balance Sheet

Liquidity looks acceptable with a current ratio of 1.90 and cash ratio of 0.77, which helps offset weak earnings.

Leverage appears low on a market-value basis, with debt-to-equity of 0.02 and debt-to-assets of 1.1%, though negative earnings keep coverage metrics under pressure.

Operating Efficiency

Asset turnover of 1.06 and fixed asset turnover of 66.7 suggest the asset base is being used efficiently to produce revenue.

Working capital turnover of 2.15 is reasonable, but the cash conversion cycle is still negative only because payables stretch exceeds receivables collection, not because of strong profitability.