Bangkok Genomics Innovation PCL

The company maintains a strong liquidity position, with cash and equivalents amounting to 359.15 million THB, significantly exceeding its total liabilities of 52.36 million THB. The current ratio of 14.76 indicates a robust ability to meet short-term obligations. However, the operating cash flow is negative at -16.98 million THB, suggesting operational inefficiencies or high working capital requirements.

Profitability metrics show a return on equity (ROE) of 1.94% and a return on assets (ROA) of 1.76%, both below the typical thresholds for high-growth biotechnology firms. The gross profit margin is 45.36%, while the operating margin is 15.20%, indicating moderate efficiency in converting revenue to profit. These figures suggest the company is not yet achieving the high returns typical of its industry.

The company operates as a single business segment, with no disclosed geographic diversification. All revenue is generated domestically, which increases exposure to local economic and regulatory conditions. This lack of diversification could limit growth potential and increase vulnerability to regional disruptions.

Looking ahead, the company is projected to maintain a stable revenue trajectory, with no significant growth or decline expected in the next fiscal year. The current revenue of 68.32 million THB reflects a modest scale, and the absence of capital expenditures suggests a conservative approach to expansion. However, the negative operating cash flow indicates ongoing operational challenges.

The risk assessment indicates low liquidity and dilution risks, with no immediate filing-based flags detected. The debt-to-equity ratio of 0.05 is very low, suggesting minimal leverage and financial risk. However, the negative operating cash flow could become a concern if it persists, potentially leading to liquidity constraints.

Recent filings and transcripts do not highlight any major events or strategic shifts. The company appears to be in a maintenance phase, with no significant new product launches or market expansions disclosed. Analysts have assigned a neutral recommendation, with a mean price target of 1.70 THB, indicating limited upside potential.

Return on equity and return on assets are positive, significantly outperforming the negative cohort medians.

The company maintains a low debt-to-equity ratio of 0.05, indicating a conservative capital structure.

Analysts assign a mean price target of 1.70 THB, implying limited upside from the current price.

Dilution, liquidity, and credit risks are all assessed at low levels, suggesting stable operational footing.

Cash conversion is in the bottom quartile of the cohort, indicating poor efficiency in generating cash from profits.

Revenue THB 142.3M, +48,5% YoY; Operating income +113,2% YoY.

• ▍Revenue THB 142.3M, +48,5% YoY
• ▍Operating income +113,2% YoY
• ▍Net income +111,2% YoY
• ▍Free cash flow +87,1% YoY
• ▍Net margin 18.3%

Revenue THB 88.9M, +1,4% YoY; Operating income −43,4% YoY.

• ▍Revenue THB 88.9M, +1,4% YoY
• ▍Operating income −43,4% YoY
• ▍Net income −51,9% YoY
• ▍Free cash flow −163,2% YoY
• ▍Net margin 7.8%

Revenue THB 69.8M, −18,6% YoY; Operating income −63,3% YoY.

• ▍Revenue THB 69.8M, −18,6% YoY
• ▍Operating income −63,3% YoY
• ▍Net income −68,9% YoY
• ▍Free cash flow −46,1% YoY
• ▍Net margin 6.2%

Revenue THB 78.5M, +14,9% YoY; Operating income −19,3% YoY.

• ▍Revenue THB 78.5M, +14,9% YoY
• ▍Operating income −19,3% YoY
• ▍Net income −15,9% YoY
• ▍Free cash flow −45,7% YoY
• ▍Net margin 10.3%

Revenue THB 95.8M; Operating income THB 13.6M.

• ▍Revenue THB 95.8M
• ▍Operating income THB 13.6M
• ▍Net margin 12.9%

Revenue THB 87.7M; Operating income THB 15.6M.

• ▍Revenue THB 87.7M
• ▍Operating income THB 15.6M
• ▍Net margin 16.4%

Revenue THB 85.8M; Operating income THB 14.2M.

• ▍Revenue THB 85.8M
• ▍Operating income THB 14.2M
• ▍Net margin 16.1%

Revenue THB 68.3M; Operating income THB 10.4M.

• ▍Revenue THB 68.3M
• ▍Operating income THB 10.4M
• ▍Net margin 14.1%

Revenue THB 379.5M, +12,4% YoY; Operating income −4,4% YoY.

• ▍Revenue THB 379.5M, +12,4% YoY
• ▍Operating income −4,4% YoY
• ▍Net income −9,6% YoY
• ▍Free cash flow −94,7% YoY
• ▍Net margin 11.9%

Revenue THB 337.6M, +37,6% YoY; Operating income +64,0% YoY.

• ▍Revenue THB 337.6M, +37,6% YoY
• ▍Operating income +64,0% YoY
• ▍Net income +56,1% YoY
• ▍Free cash flow +11,5% YoY
• ▍Net margin 14.9%