Mida Assets PCL

Mida Assets PCL exhibits a capital structure with a debt-to-equity ratio of 1.31, indicating a moderate reliance on debt financing. The company's liquidity position is assessed as medium, with a current ratio of 0.93, suggesting limited short-term liquidity cushion. Free cash flow of 9.25 million THB is positive but modest, while operating cash flow is negative at -23.8 million THB.

Profitability metrics are weak, with a return on equity of -0.45% and a return on assets of -0.15%, both significantly below the industry median for consumer lenders. The company reported a net loss of 16.3 million THB, driven by a narrow operating income of 17.6 million THB on 350.9 million THB of gross profit.

Geographic and segment exposure is concentrated in Thailand, with no disclosed international operations or material segment diversification. Revenue is derived primarily from consumer lending, with no material diversification into other financial services.

Growth trajectory is mixed, with revenue of 542.9 million THB in the latest period. While the company has maintained positive revenue, the net loss and weak operating cash flow suggest operational challenges. Analysts reported a last actual revenue of 1.42 billion THB, but this appears inconsistent with the latest financial snapshot.

Risk factors include medium liquidity risk and a negative net cash position after subtracting total debt. Dilution risk is assessed as low, with no near-term pressure from share issuance or convertible debt. The company has not disclosed any material dilution sources in recent filings.

Recent events include a reported net loss and negative operating cash flow, which may signal underlying operational inefficiencies. No material regulatory or geopolitical events have been disclosed in the latest financial data.

Total assets grew 1.8% annually over four years, indicating steady balance sheet expansion despite recent revenue declines.

Cash conversion of 1.46 significantly exceeds the consumer lending cohort median of 0.16, suggesting superior cash generation efficiency.

Dilution risk is assessed as low, providing some protection to existing shareholders against equity value erosion.

Capex to revenue ratio of -0.01 is above the cohort median, implying lower capital intensity relative to peers.

Free cash flow improved 13% year-over-year in the latest fiscal year, showing a marginal recovery in cash generation.

Return on equity of -0.45% ranks in the bottom quartile of the consumer lending cohort, indicating poor capital efficiency.

High credit risk flags suggest potential future losses from loan defaults, threatening asset quality and future earnings.

Debt-to-equity ratio of 1.31 exceeds the cohort median of 1.18, indicating higher financial leverage and risk exposure.

Revenue THB 531.8M, +1,0% YoY; Operating income −74,8% YoY.

• ▍Revenue THB 531.8M, +1,0% YoY
• ▍Operating income −74,8% YoY
• ▍Net income +36,5% YoY
• ▍Free cash flow +85,6% YoY
• ▍Net margin -7.4%

Revenue THB 505.3M, −1,6% YoY; Operating income −1 233,0% YoY.

• ▍Revenue THB 505.3M, −1,6% YoY
• ▍Operating income −1 233,0% YoY
• ▍Net income −377,3% YoY
• ▍Free cash flow −17,0% YoY
• ▍Net margin -60.7%

Revenue THB 440.2M, −6,3% YoY; Operating income −8,4% YoY.

• ▍Revenue THB 440.2M, −6,3% YoY
• ▍Operating income −8,4% YoY
• ▍Net income −18,1% YoY
• ▍Free cash flow +4,6% YoY
• ▍Net margin -18.8%

Revenue THB 512.9M, −5,5% YoY; Operating income +165,0% YoY.

• ▍Revenue THB 512.9M, −5,5% YoY
• ▍Operating income +165,0% YoY
• ▍Net income +139,1% YoY
• ▍Free cash flow −152,4% YoY
• ▍Net margin 1.2%

Revenue THB 526.4M; Operating income -THB 41.7M.

• ▍Revenue THB 526.4M
• ▍Operating income -THB 41.7M
• ▍Net margin -11.7%

Revenue THB 513.4M; Operating income -THB 20.0M.

• ▍Revenue THB 513.4M
• ▍Operating income -THB 20.0M
• ▍Net margin -12.5%

Revenue THB 469.8M; Operating income -THB 36.8M.

• ▍Revenue THB 469.8M
• ▍Operating income -THB 36.8M
• ▍Net margin -14.9%

Revenue THB 542.9M; Operating income THB 17.6M.

• ▍Revenue THB 542.9M
• ▍Operating income THB 17.6M
• ▍Net margin -3.0%

Revenue THB 1.99B, −3,0% YoY; Operating income −316,6% YoY.

• ▍Revenue THB 1.99B, −3,0% YoY
• ▍Operating income −316,6% YoY
• ▍Net income −98,9% YoY
• ▍Free cash flow +13,0% YoY
• ▍Net margin -21.2%

Revenue THB 2.05B, −28,8% YoY; Operating income −125,4% YoY.

• ▍Revenue THB 2.05B, −28,8% YoY
• ▍Operating income −125,4% YoY
• ▍Net income −172,7% YoY
• ▍Free cash flow −214,9% YoY
• ▍Net margin -10.3%

Revenue THB 2.88B, +47,1% YoY; Operating income +1 726,2% YoY.

• ▍Revenue THB 2.88B, +47,1% YoY
• ▍Operating income +1 726,2% YoY
• ▍Net income +231,5% YoY
• ▍Free cash flow +645,8% YoY
• ▍Net margin 10.1%

Revenue THB 1.96B, +8,7% YoY; Operating income +77,4% YoY.

• ▍Revenue THB 1.96B, +8,7% YoY
• ▍Operating income +77,4% YoY
• ▍Net income +10,8% YoY
• ▍Free cash flow +7,4% YoY
• ▍Net margin -11.3%