Fiamma Holdings Bhd

Fiamma Holdings Bhd maintains a relatively strong liquidity position, with a current ratio of 2.96, indicating the company can cover its short-term liabilities nearly three times over. However, the company's net cash position is negative after subtracting total debt, signaling potential liquidity constraints in the near term. The company's liquidity FPT (free cash flow to total liabilities) is not explicitly provided, but the free cash flow of MYR 3.97 million in the latest period suggests limited capacity to service liabilities without external financing.

Profitability metrics for Fiamma are modest, with a return on equity (ROE) of 1.0% and a return on assets (ROA) of 0.73%. These figures are below the typical thresholds for healthy returns in the Appliances, Tools & Housewares industry, suggesting the company is underperforming relative to its asset base and equity. The operating margin, calculated as operating income of MYR 8.17 million on revenue of MYR 78.10 million, is approximately 10.5%, which is in line with the industry median for this sector.

The company's revenue is concentrated in a single business segment, as disclosed in its latest financials, with no geographic diversification provided in the available data. This lack of segment or geographic diversification increases exposure to regional economic downturns or supply chain disruptions. The absence of detailed segment reporting limits the ability to assess the performance of individual product lines or markets.

Fiamma's growth trajectory appears to be constrained, with no significant revenue growth reported in the latest period. The company's capital expenditures of MYR -5.11 million suggest a reduction in investment in long-term assets, which could signal a defensive posture or a lack of growth opportunities. The outlook for the next fiscal year does not indicate a material change in revenue direction, with no numeric deltas provided to suggest an upward or downward trend.

The risk assessment highlights a medium liquidity risk, primarily due to the negative net cash position after accounting for total debt. The dilution risk is assessed as low, with no significant dilution potential identified in the basic shares outstanding. However, the company's debt-to-equity ratio of 0.19 suggests a conservative capital structure, with limited leverage to amplify returns. The absence of dilution sources in the risk assessment implies no recent or planned equity issuances that could dilute existing shareholders.

Recent events, including filings and transcripts, are not detailed in the available data, limiting the ability to assess management commentary or strategic shifts. The company's financial disclosures are limited to the latest period, with no additional context provided on recent operational or strategic developments.

Operating and net margins exceed the 75th percentile of the appliances cohort, indicating superior profitability relative to peers.

Cash conversion ratio of 5.32 ranks as best-in-class within the appliances, tools, and housewares cohort.

Free cash flow surged 112.9% year-over-year to MYR 67.2 million, demonstrating strong cash generation capabilities.

Net income grew 78.1% year-over-year to MYR 65.6 million, significantly outpacing the modest 3.0% revenue growth.

Debt-to-equity ratio of 0.19 is below the cohort median of 0.27, suggesting a conservative capital structure.

Long-term debt increased to MYR 87.4 million in the latest period, reversing a previous downward trend.

The company faces medium liquidity and credit risks, which could constrain financial flexibility during market downturns.

Revenue MYR 88.6M; Operating income MYR 18.7M.

• ▍Revenue MYR 88.6M
• ▍Operating income MYR 18.7M
• ▍Net margin 26.2%

Revenue MYR 97.7M; Operating income MYR 10.6M.

• ▍Revenue MYR 97.7M
• ▍Operating income MYR 10.6M
• ▍Net margin 4.1%

Revenue MYR 91.4M; Operating income MYR 17.8M.

• ▍Revenue MYR 91.4M
• ▍Operating income MYR 17.8M
• ▍Net margin 12.5%

Revenue MYR 78.1M; Operating income MYR 8.2M.

• ▍Revenue MYR 78.1M
• ▍Operating income MYR 8.2M
• ▍Net margin 8.6%

Revenue MYR 375.0M, −22,9% YoY; Operating income −46,8% YoY.

• ▍Revenue MYR 375.0M, −22,9% YoY
• ▍Operating income −46,8% YoY
• ▍Net income −45,2% YoY
• ▍Net margin 10.6%

Revenue MYR 486.1M, +31,4% YoY; Operating income +61,2% YoY.

• ▍Revenue MYR 486.1M, +31,4% YoY
• ▍Operating income +61,2% YoY
• ▍Net income +97,2% YoY
• ▍Net margin 14.9%