Risks

Leverage remains moderate at 3.1x net debt/EBITDA versus lower-levered peers, but 24.1x interest coverage suggests refinancing pressure is currently contained.

Receivables collection is relatively slow at 87.3 days outstanding, which can weigh on working-capital efficiency versus peers with faster cash conversion and tighter credit control.

Debt-to-equity of 4.1x leaves less balance-sheet flexibility than conservatively financed peers, increasing sensitivity if demand or margins soften over the next 1–5 years.

Opportunities

A 1.42x current ratio and 1.40x quick ratio indicate solid near-term liquidity, supporting better operating resilience than more stretched peers during demand volatility.

Inventory days of 3.4 and a 29.7-day cash conversion cycle point to efficient working-capital management, which can preserve cash generation versus slower-moving peers.

High interest coverage at 24.1x gives the company more room than leveraged peers to absorb cyclical margin pressure while maintaining strategic flexibility.

Moderate leverage can still support growth if returns remain stable, and the balance-sheet profile appears more manageable than highly indebted peers in the same segment.

Overall Score

RYOJ appears well positioned versus peers thanks to strong liquidity, efficient inventory management, and very high interest coverage, while moderate leverage and slower receivables collection remain the main constraints.