Interhides PCL

Interhides has a debt-to-equity ratio of 1.3, indicating a capital structure that is moderately leveraged. The company's liquidity position is assessed as medium, with a current ratio of 0.97, suggesting that it has nearly equal current liabilities to current assets [doc:output_data.valuation_snapshot]. The company's free cash flow of 85.68 million THB indicates positive cash generation from operations after capital expenditures, but its operating cash flow is negative at -47.85 million THB, which may signal short-term cash flow challenges [doc:input_data]. Profitability metrics show a return on equity of 6.67% and a return on assets of 2.7%, which are below the industry median for the "Auto, Truck & Motorcycle Parts" sector. This suggests that the company is not generating returns as efficiently as its peers [doc:output_data.valuation_snapshot]. The operating margin, calculated as operating income of 217.73 million THB on revenue of 2.19 billion THB, is 9.94%, which is a key indicator of operational efficiency [doc:input_data]. The company's revenue is derived from two segments: manufacturing and distribution of leather and other products, and servicing. The servicing segment provides bleaching, dyeing, and finishing services, while the manufacturing segment includes leather coverings for car seats and by-products. The geographic exposure is not disclosed in the input data, but the company's product portfolio includes automotive leather, shoe leather, and pet-related products [doc:input_data]. The company's growth trajectory is mixed. The most recent actual revenue of 1.55 billion THB is lower than the trailing twelve months revenue of 2.19 billion THB, indicating a potential slowdown in revenue growth. The outlook for the current fiscal year is not explicitly provided, but the negative operating cash flow and high debt-to-equity ratio may constrain near-term expansion [doc:input_data]. Risk factors include medium liquidity risk, as the company's cash and equivalents of 4.12 million THB are significantly lower than its long-term debt of 2.21 billion THB. The dilution risk is assessed as low, with no near-term pressure expected. The company has not issued additional shares recently, and the number of shares outstanding remains unchanged [doc:output_data.risk_assessment]. Recent events include the disclosure of financial results showing a net income of 113.00 million THB. The company's capital expenditures of -192.45 million THB indicate investment in long-term assets, but the negative operating cash flow suggests that these investments are not yet generating sufficient cash to cover operating expenses [doc:input_data].