Passat SA

Passat SA maintains a conservative capital structure with a debt-to-equity ratio of 0.21, indicating a low reliance on debt financing. The company's liquidity position is robust, as evidenced by a current ratio of 3.33 and cash and equivalents of EUR 15.15 million, which provides a buffer against short-term obligations. The price-to-book ratio of 0.5 suggests that the company's market value is significantly below its book value, potentially indicating undervaluation or asset-heavy operations [doc:HA-latest]. Profitability metrics for Passat SA are modest, with a return on equity (ROE) of 2.77% and a return on assets (ROA) of 1.68%. These figures are below the typical thresholds for strong performance in the Appliances, Tools & Housewares industry, where ROE and ROA are often higher due to the capital-intensive nature of the sector. The company's operating margin, calculated as operating income of EUR 2.76 million on revenue of EUR 62.33 million, is 4.43%, which is in line with the industry median of 4.5% [doc:HA-latest]. Geographically, Passat SA's revenue is concentrated in France, with operations also in Portugal, Spain, Italy, Canada, and the United States. However, the company does not disclose specific revenue contributions by region, making it difficult to assess geographic diversification. The lack of detailed segment reporting limits the ability to evaluate the performance of individual markets or product lines [doc:HA-latest]. The company's growth trajectory appears to be modest, with a current FY revenue of EUR 62.33 million and a trailing twelve-month revenue of EUR 47.14 million. The outlook for the next fiscal year is not explicitly provided, but the company's operating cash flow of EUR -0.37 million and free cash flow of EUR 1.03 million suggest a mixed performance. The capital expenditure of EUR -2.35 million indicates a reduction in investment, which may signal a strategic shift or financial constraints [doc:HA-latest]. Risk factors for Passat SA include low liquidity and dilution risk, with no immediate filing-based flags detected. The company's low debt levels and strong cash reserves mitigate financial risk, but the modest profitability and low ROE suggest operational inefficiencies or competitive pressures. The absence of dilution risk is a positive, but the company's reliance on a narrow product portfolio and limited geographic diversification could expose it to market-specific downturns [doc:HA-latest]. Recent events and filings for Passat SA do not indicate significant changes in the company's operations or financial strategy. The company's latest actual EPS of EUR 0.21 and revenue of EUR 47.14 million suggest a stable but not growing business. Analysts have not raised concerns about liquidity or dilution, and the company's financial statements do not show signs of distress or aggressive restructuring [doc:HA-latest].