ONCP—56

Onico SA

Oil & Gas Refining and MarketingVerified

Score breakdown

Profitability+20Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion95AI synthesis40Observations3

Onico SA's capital structure is marked by a negative total equity of -145.7 million PLN, indicating a significant deficit in equity capital. The company's liquidity position is mixed, with a current ratio of 1.53, suggesting it can cover short-term obligations, but with only 2.44 million PLN in cash and equivalents. The negative net cash position, after subtracting total debt, raises liquidity concerns [doc:HA-latest]. Profitability metrics show a return on assets (ROA) of 23.34%, which is strong, but the return on equity (ROE) is negative at -16.02%, reflecting the negative equity position. The operating income of 22.64 million PLN and net income of 23.33 million PLN indicate operational profitability, but the debt-to-equity ratio of -0.09 suggests a leveraged capital structure [doc:HA-latest]. The company's revenue is concentrated in the LPG trading segment, with no disclosed geographic diversification. The financial snapshot does not provide segment-specific revenue data, but the core business is focused on domestic and international gas companies. The lack of geographic diversification could pose a concentration risk [doc:HA-latest]. Growth trajectory is not clearly defined in the provided data, but the company's free cash flow of 24.88 million PLN suggests some capacity for reinvestment or debt reduction. The capital expenditure of -473,990 PLN indicates minimal investment in physical assets, which is typical for a trading business [doc:HA-latest]. Risk factors include a medium liquidity risk due to the negative net cash position and a debt-to-equity ratio that is negative, indicating a reliance on debt financing. The dilution risk is assessed as low, with no significant dilution potential in the near term. The company's financial leverage and negative equity position are key concerns [doc:HA-latest]. Recent events include the latest financial filing, which shows a strong operating income but a negative equity position. No recent transcripts or filings beyond the financial snapshot are provided, so the narrative is based on the latest available data [doc:HA-latest].

30-day price · ONCP-1.10 (-7.1%)

Low$14.50High$16.00Close$14.50As of4 May, 00:00 UTC

Profile

CompanyOnico SA

TickerONCP.WA

SectorEnergy

BusinessEnergy - Fossil Fuels

Industry groupEnergy - Fossil Fuels

IndustryOil & Gas Refining and Marketing

AI analysis

Business. Onico SA is a Poland-based company engaged in the trade of oil and gas products, primarily acting as an intermediary in the liquefied petroleum gas (LPG) market between producers and distributors [doc:HA-latest].

Classification. Onico SA is classified under the Energy - Fossil Fuels business sector, with a confidence level of 0.92, and operates in the Oil & Gas Refining and Marketing industry [doc:verified market data].

Key takeaways

Onico SA has a strong return on assets but a negative return on equity due to its negative equity position.
The company's liquidity position is mixed, with a current ratio of 1.53 but negative net cash.
The business is concentrated in the LPG trading segment with no disclosed geographic diversification.
Free cash flow is positive, indicating some capacity for reinvestment or debt reduction.
The company faces medium liquidity risk and a negative debt-to-equity ratio.
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Financial snapshot

PeriodHA-latest

CurrencyPLN

Revenue$74.7M

Gross profit$56.5M

Operating income$22.6M

Net income$23.3M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow-$22.1M

CapEx-$474.0k

Free cash flow$24.9M

Total assets$100.0M

Total liabilities$245.6M

Total equity-$145.7M

Cash & equivalents$2.4M

Long-term debt$12.5M

Annual history (last 5)

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Quarterly history (last 4)

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Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book-$145.7M

Net cash-$10.0M

Current ratio1.5

Debt/Equity-0.1

ROA23.3%

ROE-16.0%

Cash conversion-95.0%

CapEx/Revenue-0.6%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Oil & Gas Refining and Marketing · cohort 2 companies

MetricONCPActivity

Op margin30.3%5.0% medp25 4.3% · p75 5.6%top quartile

Net margin31.3%3.0% medp25 2.6% · p75 5.9%top quartile

Gross margin75.7%19.2% medp25 8.7% · p75 29.6%top quartile

R&D / revenue—0.4% medp25 0.4% · p75 0.4%

CapEx / revenue-0.6%5.6% medp25 4.1% · p75 7.1%bottom quartile

Debt / equity-9.0%94.7% medp25 53.9% · p75 135.4%bottom quartile

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-05 18:52 UTC#5498cc9b

Source: analysis-pipeline (hybrid)Generated: 2026-05-05 18:54 UTCJob: 6f184a62