Planethic Group AG

Planethic Group AG exhibits a highly leveraged capital structure with total liabilities of €20.6 million against total equity of €1.7 million, resulting in a debt-to-equity ratio of 6.83. The company holds €0.95 million in cash and equivalents, which is insufficient to cover its €11.5 million in long-term debt, leading to a negative net cash position. Liquidity is assessed as medium, supported by a current ratio of 1.26, indicating that current assets exceed current liabilities but with limited buffer. The market capitalization stands at €5.4 million, implying a price-to-book ratio of 3.2, which suggests the market values the equity at a premium to its book value despite the negative earnings profile.

Profitability metrics are deeply negative, with a return on equity of -285.8% and a return on assets of -21.6%. The company reported an operating income of -€3.9 million and a net income of -€4.8 million on revenues of €10.8 million. The gross profit of €4.1 million indicates a gross margin of approximately 37.7%, but operating expenses significantly outpace this contribution, leading to substantial operating losses. The negative EV/EBITDA of -4.08 reflects the company's current unprofitability. Without cohort median data for direct comparison, the absolute magnitude of these losses suggests significant operational challenges relative to typical industry standards for mature food product companies.

Revenue concentration and segment details are not explicitly provided in the available data, preventing a detailed analysis of geographic or product mix exposure. The total revenue of €10.8 million serves as the baseline for valuation multiples, with an EV/Revenue ratio of 1.48. This multiple suggests that the market is valuing the company at a modest premium to its top-line sales, potentially reflecting expectations of future turnaround or asset value not captured in current earnings.

Growth trajectory analysis is limited by the absence of historical period data in the input. The current financial snapshot shows a single period of performance with negative free cash flow of -€4.1 million, driven by negative operating cash flow of -€3.7 million and capital expenditures of €0.8 million. The lack of historical trend data prevents the calculation of year-over-year growth rates or the assessment of momentum in revenue or earnings.

Risk assessment highlights medium liquidity risk and low dilution risk. The key flag notes that net cash is negative after subtracting total debt, emphasizing the reliance on external financing or asset sales to meet obligations. The low dilution risk is consistent with the basic and diluted shares outstanding being identical at 2.03 million, indicating no immediate options or convertible securities are currently dilutive. However, the high debt load and negative cash flow pose significant solvency risks if the company cannot achieve operational breakeven.

Recent observations include analyst estimates with a mean price target of €18.50, significantly higher than the current market price of €2.66. The mean recommendation is 2.00 (Buy), with two buy ratings and no hold or sell ratings recorded. This divergence between the current market price and analyst targets suggests that analysts expect a substantial re-rating, possibly due to anticipated operational improvements or strategic developments not yet reflected in the financial statements.

Net losses narrowed significantly from EUR 13.3 million in 2022 to EUR 4.9 million in the latest period.

Free cash flow outflows decreased substantially from EUR 12.8 million in 2022 to EUR 4.2 million recently.

Long-term debt peaked at EUR 11.8 million in 2023 before declining to EUR 5.5 million in the latest period.

Operating losses improved from EUR 13.2 million in 2023 to EUR 4.3 million in the most recent fiscal period.

Dilution risk is assessed as low, suggesting limited immediate pressure on existing shareholder equity value.

Revenue declined sharply from EUR 30.4 million in 2022 to EUR 10.8 million in 2025, indicating shrinking scale.

The company carries a high credit risk flag, signaling significant concerns regarding its ability to meet obligations.

Debt-to-equity ratio stands at 6.83, drastically exceeding the cohort median of 0.23 and indicating high leverage.

Revenue €3.7M.

• ▍Revenue €3.7M

Revenue €3.7M.

• ▍Revenue €3.7M

Revenue €10.8M, −34,2% YoY; Operating income +55,1% YoY.

• ▍Revenue €10.8M, −34,2% YoY
• ▍Operating income +55,1% YoY
• ▍Net income +49,3% YoY
• ▍Free cash flow +59,5% YoY
• ▍Net margin -44.7%

Revenue €16.4M, −30,5% YoY; Operating income +34,0% YoY.

• ▍Revenue €16.4M, −30,5% YoY
• ▍Operating income +34,0% YoY
• ▍Net income +13,8% YoY
• ▍Free cash flow +12,8% YoY
• ▍Net margin -57.9%

Revenue €23.6M, −22,4% YoY; Operating income −22,3% YoY.

• ▍Revenue €23.6M, −22,4% YoY
• ▍Operating income −22,3% YoY
• ▍Net income +17,1% YoY
• ▍Free cash flow +9,6% YoY
• ▍Net margin -46.7%

Revenue €30.4M, +13,6% YoY; Operating income −152,8% YoY.

• ▍Revenue €30.4M, +13,6% YoY
• ▍Operating income −152,8% YoY
• ▍Net income −169,6% YoY
• ▍Free cash flow −205,3% YoY
• ▍Net margin -43.8%