Micro Leasing PCL

Micro Leasing PCL has a debt-to-equity ratio of 1.63, indicating a moderate reliance on debt financing, and a current ratio of 1.5, suggesting it has sufficient short-term assets to cover its short-term liabilities. However, the company's free cash flow is negative at -1.38 million THB, and its operating cash flow is 285.37 million THB, which may limit its ability to fund operations and growth without external financing.

The company's profitability is weak, with a return on equity of -0.32% and a return on assets of -0.11%, both significantly below the industry median for corporate financial services. These metrics suggest that the company is not generating returns that meet the cost of capital or industry expectations.

Micro Leasing PCL's revenue is concentrated in its core banking and financial services, with no disclosed geographic diversification. The company's exposure to a single business model and geographic region increases its vulnerability to economic downturns or regulatory changes in the local market.

The company's growth trajectory is uncertain, with no disclosed revenue growth in the current fiscal year. The lack of positive revenue growth, combined with negative net income of -5.99 million THB, indicates that the company is not expanding its market share or improving its profitability.

The company faces medium liquidity risk due to its negative net cash position after subtracting total debt. While dilution risk is currently low, the company's negative free cash flow and reliance on debt financing could lead to future dilution if it needs to raise additional capital.

Recent filings and transcripts indicate that the company is under pressure to improve its financial performance and reduce its debt burden. Analysts have issued a mean price target of 0.95 THB, with a median of 0.95 THB, and a mean recommendation of 3.00, indicating a neutral outlook.

Operating income surged 2,331.5% year-over-year to THB 180.5 million, signaling a dramatic operational turnaround.

Net income jumped 130.2% to THB 46.2 million, marking a return to profitability after recent losses.

Free cash flow improved 137.7% to THB 48.4 million, reversing a multi-year trend of negative cash generation.

Long-term debt decreased significantly to THB 1.26 billion, reducing leverage from THB 3.17 billion in the prior year.

Analysts project 11.0% upside to a mean price target of THB 0.955, suggesting undervaluation at current levels.

Net margin sits at -2.97%, placing the company in the bottom quartile of its corporate financial services cohort.

Return on equity is negative at -0.32%, ranking in the bottom quartile compared to peer median of 4.84%.

Debt-to-equity ratio stands at 1.63, significantly higher than the cohort median of 0.93, implying elevated leverage risk.

The company faces a high credit risk flag, suggesting potential vulnerabilities in its asset quality or counterparty exposure.

Revenue THB 135.0M, −21,3% YoY; Operating income +222,4% YoY.

• ▍Revenue THB 135.0M, −21,3% YoY
• ▍Operating income +222,4% YoY
• ▍Net income +134,7% YoY
• ▍Free cash flow +98,9% YoY
• ▍Net margin 16.7%

Revenue THB 140.0M, −23,4% YoY; Operating income +224,8% YoY.

• ▍Revenue THB 140.0M, −23,4% YoY
• ▍Operating income +224,8% YoY
• ▍Net income +112,3% YoY
• ▍Free cash flow +127,5% YoY
• ▍Net margin 5.5%

Revenue THB 147.5M, −23,6% YoY; Operating income +117,9% YoY.

• ▍Revenue THB 147.5M, −23,6% YoY
• ▍Operating income +117,9% YoY
• ▍Net income +148,9% YoY
• ▍Free cash flow +222,7% YoY
• ▍Net margin 6.4%

Revenue THB 156.7M, −22,2% YoY; Operating income +18,9% YoY.

• ▍Revenue THB 156.7M, −22,2% YoY
• ▍Operating income +18,9% YoY
• ▍Net income +209,7% YoY
• ▍Free cash flow +1 358,6% YoY
• ▍Net margin 4.2%

Revenue THB 171.6M; Operating income -THB 37.8M.

• ▍Revenue THB 171.6M
• ▍Operating income -THB 37.8M
• ▍Net margin -37.8%

Revenue THB 182.8M; Operating income -THB 32.2M.

• ▍Revenue THB 182.8M
• ▍Operating income -THB 32.2M
• ▍Net margin -34.5%

Revenue THB 193.2M; Operating income THB 20.7M.

• ▍Revenue THB 193.2M
• ▍Operating income THB 20.7M
• ▍Net margin -10.0%

Revenue THB 201.4M; Operating income THB 41.3M.

• ▍Revenue THB 201.4M
• ▍Operating income THB 41.3M
• ▍Net margin -3.0%

Revenue THB 579.2M, −22,7% YoY; Operating income +2 331,5% YoY.

• ▍Revenue THB 579.2M, −22,7% YoY
• ▍Operating income +2 331,5% YoY
• ▍Net income +130,2% YoY
• ▍Free cash flow +137,7% YoY
• ▍Net margin 8.0%

Revenue THB 748.9M, −17,6% YoY; Operating income −107,8% YoY.

• ▍Revenue THB 748.9M, −17,6% YoY
• ▍Operating income −107,8% YoY
• ▍Net income −191,5% YoY
• ▍Free cash flow −33,5% YoY
• ▍Net margin -20.4%

Revenue THB 908.5M, +7,3% YoY; Operating income −54,6% YoY.

• ▍Revenue THB 908.5M, +7,3% YoY
• ▍Operating income −54,6% YoY
• ▍Net income −166,4% YoY
• ▍Free cash flow −333,1% YoY
• ▍Net margin -5.8%

Revenue THB 846.4M, +35,7% YoY; Operating income −21,4% YoY.

• ▍Revenue THB 846.4M, +35,7% YoY
• ▍Operating income −21,4% YoY
• ▍Net income −57,8% YoY
• ▍Free cash flow −118,8% YoY
• ▍Net margin 9.3%