PARK & Bellheimer AG

PARK & Bellheimer AG maintains a strong liquidity position with EUR 10.38 million in cash and equivalents, representing 28.5% of total assets. The company's liquidity FPT (free cash flow to total liabilities) is 0.049, indicating a conservative approach to liquidity management. The current ratio of 1.13 suggests the company can cover its short-term liabilities with its short-term assets, though not with significant margin. Profitability metrics show a return on equity (ROE) of 12.75% and a return on assets (ROA) of 5.31%, both above the median for the Brewers industry. The operating margin of 10.64% (calculated from operating income of EUR 2.63 million on revenue of EUR 24.77 million) is also in line with industry norms. The company's gross margin of 72.14% (calculated from gross profit of EUR 17.87 million) reflects efficient production and cost control. The company's revenue is concentrated in Germany, with no disclosed international operations. It operates through four subsidiaries, including PARK & Bellheimer Brauereien GmbH & Co KG and Bellheimer Mineralquellen GmbH, but no segment-specific revenue breakdown is available in the latest financials. The non-alcoholic beverage segment under the Bellaris brand is a key growth driver, though its contribution to total revenue is not quantified. The company's revenue growth is expected to remain stable, with no significant changes in the outlook for the current or next fiscal year. The capital expenditure of EUR 4.28 million in the latest period suggests ongoing investment in production capacity, though the exact allocation across segments is not disclosed. The company's free cash flow of EUR 1.04 million indicates a capacity to fund operations and potentially return value to shareholders. Risk factors include low liquidity risk and low dilution potential, with no immediate filing-based flags detected. The debt-to-equity ratio of 0.43 is conservative, and the company's capital structure is not heavily leveraged. The absence of dilution risk is supported by the fact that basic and diluted shares outstanding are equal at 5 million. Recent events include the latest financial filing (HA-latest) and the absence of any material regulatory or operational disruptions. The company's recent performance is consistent with its historical financials, with no significant deviations in operating income or net income. The company's focus on both beer and non-alcoholic beverages provides a diversified revenue stream, though the exact contribution of each segment is not disclosed.