Overall Score

Profitability Returns

Gross margin is 36.5% and EBITDA margin is 7.1%, but net margin remains slightly negative at -1.1%.

Return on invested capital is 5.9% and return on capital employed is 6.0%, indicating only modest value creation.

Return on equity is -3.0% and return on assets is -1.5%, showing the business is still not consistently profitable.

Scale Efficiency

Revenue per share is 15.5 and asset turnover is 1.38, suggesting decent asset utilization.

Working capital is positive at 72.4M and the current ratio is 2.38, supporting operational flexibility.

Cash conversion cycle is 101.9 days, reflecting a fairly long working-capital cycle.

Balance Sheet Strength

Debt-to-equity is 1.00 and debt-to-assets is 37.5%, indicating moderate leverage.

Net debt to EBITDA is 2.88, which is manageable but not especially conservative.

Interest coverage is 0.91, so debt service remains a constraint on financial flexibility.

Cash Generation

Free cash flow yield is 13.2% and price to free cash flow is 7.6, pointing to solid cash generation relative to valuation.

Operating cash flow margin is 11.4% and free cash flow conversion is 94.8% of operating cash flow, which is supportive.

Capex intensity is low at 0.6% of revenue, helping preserve cash.

Valuation Support

EV/sales is 1.03 and price/sales is 0.82, which are not demanding for a cash-generative business.

EV/EBITDA is 14.4, suggesting the market is not pricing in a deep discount on earnings power.

Negative earnings and a negative earnings yield limit the strength of the valuation case.