Zalekta PCL

Zalekta PCL maintains a strong liquidity position, with cash and equivalents amounting to 273.1 million THB, representing 45.2% of total assets. The company's liquidity FPT (free cash flow to total liabilities) is 2.17, indicating a robust ability to meet short-term obligations. The current ratio of 2.35 further supports this, suggesting the company has sufficient current assets to cover its current liabilities more than twice over.

Profitability metrics reveal a mixed picture. While the company reported a net income of 2.36 million THB, it experienced an operating loss of 0.92 million THB. The return on equity (ROE) of 0.57% and return on assets (ROA) of 0.39% are below the industry median for entertainment production firms, indicating suboptimal capital efficiency. Gross profit of 19.75 million THB on 29.18 million THB in revenue suggests a gross margin of 67.7%, which is in line with industry norms.

Geographically, Zalekta's revenue is concentrated in its domestic market, with no disclosed international operations. The company's business is entirely within the entertainment production segment, with no diversification across product lines or geographic regions. This concentration increases exposure to local economic conditions and regulatory changes.

Looking ahead, Zalekta's revenue is projected to grow by 5.0% in the current fiscal year and 3.5% in the following year. This growth is supported by a historical revenue increase of 4.8% year-over-year. However, the company's operating cash flow of 10.09 million THB and free cash flow of 4.19 million THB suggest limited capacity for reinvestment or expansion without external financing.

Risk factors for Zalekta include low liquidity risk and low dilution potential, with no immediate filing-based flags detected. The company's debt-to-equity ratio of 0.01 indicates minimal leverage, reducing credit risk. However, the high price-to-earnings ratio of 467.47 and negative EV/EBITDA of -913.73 suggest valuation concerns, particularly given the company's recent operating loss.

Recent events include the filing of the latest financial report, which disclosed the operating loss and net income figures. No significant regulatory or legal events were reported in the latest filings. Analyst estimates for the last actual EPS and revenue were -1.01 THB and 278.32 million THB, respectively, indicating a slight revenue beat but a significant earnings miss.

Cash conversion ratio of 4.27 is best-in-class compared to the 0.73 cohort median.

Debt-to-equity ratio of 0.01 is significantly lower than the 0.10 cohort median.

Free cash flow improved by 59.2% year-over-year to negative 50.8 million THB.

Operating income improved by 60.6% year-over-year to negative 45.9 million THB.

The company faces a high credit risk flag according to available risk assessments.

Revenue THB 37.6M, −3,0% YoY; Operating income +89,3% YoY.

• ▍Revenue THB 37.6M, −3,0% YoY
• ▍Operating income +89,3% YoY
• ▍Net income +92,0% YoY
• ▍Net margin -19.5%

Revenue THB 17.6M, −4,8% YoY; Operating income −217,6% YoY.

• ▍Revenue THB 17.6M, −4,8% YoY
• ▍Operating income −217,6% YoY
• ▍Net income −58,3% YoY
• ▍Net margin -145.6%

Revenue THB 21.5M, −23,5% YoY; Operating income +42,5% YoY.

• ▍Revenue THB 21.5M, −23,5% YoY
• ▍Operating income +42,5% YoY
• ▍Net income +23,9% YoY
• ▍Free cash flow −24,7% YoY
• ▍Net margin -58.1%

Revenue THB 32.2M, +10,2% YoY; Operating income +173,7% YoY.

• ▍Revenue THB 32.2M, +10,2% YoY
• ▍Operating income +173,7% YoY
• ▍Net income −466,0% YoY
• ▍Free cash flow −179,9% YoY
• ▍Net margin -26.9%

Revenue THB 38.7M; Operating income -THB 90.3M.

• ▍Revenue THB 38.7M
• ▍Operating income -THB 90.3M
• ▍Net margin -235.5%

Revenue THB 18.5M; Operating income -THB 8.6M.

• ▍Revenue THB 18.5M
• ▍Operating income -THB 8.6M
• ▍Net margin -87.6%

Revenue THB 28.2M; Operating income -THB 16.8M.

• ▍Revenue THB 28.2M
• ▍Operating income -THB 16.8M
• ▍Net margin -58.4%

Revenue THB 29.2M; Operating income -THB 916.0k.

• ▍Revenue THB 29.2M
• ▍Operating income -THB 916.0k
• ▍Net margin 8.1%

Revenue THB 108.9M, −5,0% YoY; Operating income +60,6% YoY.

• ▍Revenue THB 108.9M, −5,0% YoY
• ▍Operating income +60,6% YoY
• ▍Net income +55,4% YoY
• ▍Free cash flow +59,2% YoY
• ▍Net margin -49.7%

Revenue THB 114.5M, −39,2% YoY; Operating income −176,3% YoY.

• ▍Revenue THB 114.5M, −39,2% YoY
• ▍Operating income −176,3% YoY
• ▍Net income −144,2% YoY
• ▍Free cash flow −2 229,0% YoY
• ▍Net margin -106.0%

Revenue THB 188.3M, −33,9% YoY; Operating income −204,2% YoY.

• ▍Revenue THB 188.3M, −33,9% YoY
• ▍Operating income −204,2% YoY
• ▍Net income −299,1% YoY
• ▍Free cash flow −103,2% YoY
• ▍Net margin -26.4%

Revenue THB 284.7M, +78,0% YoY; Operating income +583,8% YoY.

• ▍Revenue THB 284.7M, +78,0% YoY
• ▍Operating income +583,8% YoY
• ▍Net income +220,1% YoY
• ▍Free cash flow +421,6% YoY
• ▍Net margin 8.8%