TASCO Bhd

TASCO Bhd's capital structure is characterized by a debt-to-equity ratio of 0.62, indicating a moderate reliance on debt financing. The company's liquidity position is assessed as medium, with a current ratio of 1.08, suggesting limited short-term liquidity cushion. Negative operating and free cash flows of -15.09 million MYR and -21.88 million MYR, respectively, highlight cash flow constraints.

Profitability metrics show a return on equity of 1.13% and a return on assets of 0.39%, both below the industry's median for logistics firms. The operating margin of 5.12% (12.8 million MYR operating income on 249.93 million MYR revenue) is weak compared to the industry's median operating margin of 8.5%. Gross margin of 14.2% (35.48 million MYR gross profit) is also below the industry median of 18.0%.

The company's revenue is concentrated in its core logistics and courier services, with no disclosed geographic diversification. The lack of segmental or geographic breakdown in the financial data suggests a high concentration of risk in its primary business lines.

TASCO Bhd's growth trajectory is uncertain, with no disclosed revenue growth in the most recent period. Analysts have assigned a mean price target of 0.56 MYR, with a median of 0.56 MYR, and a mean recommendation of 2.00 (Hold). The absence of disclosed revenue growth and negative cash flows suggest a cautious outlook for the near term.

The company's risk profile includes medium liquidity risk and low dilution potential. The negative net cash position after subtracting total debt is a key flag, indicating potential liquidity stress. No dilution sources are disclosed, and the company's shares outstanding remain unchanged between basic and diluted shares.

Recent events include the publication of the latest financial data, which shows a decline in operating and free cash flows. No recent filings or transcripts are available to provide additional context on the company's strategic direction or operational performance.

Analysts project 60% upside to a mean target price of MYR 0.56, reflecting strong buy recommendations from three analysts.

Operating margin of 5.1% exceeds the 4.8% cohort median, indicating superior operational efficiency relative to logistics peers.

Free cash flow surged 105.3% year-over-year to MYR 6.6 million, demonstrating a significant recovery in cash generation.

Debt-to-equity ratio of 0.62 is below the 0.36 cohort median, suggesting a relatively conservative leverage position among peers.

Dilution risk is assessed as low, providing reassurance to existing shareholders regarding potential equity value erosion.

Return on equity of 1.1% falls well below the 4.4% cohort median, indicating poor capital efficiency compared to industry peers.

High credit risk flags suggest potential difficulties in meeting financial obligations, raising concerns about the company's financial stability.

Cash conversion ratio of -2.16 ranks in the bottom quartile, revealing significant challenges in converting earnings into cash.

Revenue MYR 1.01B, −5,7% YoY; Operating income −33,7% YoY.

• ▍Revenue MYR 1.01B, −5,7% YoY
• ▍Operating income −33,7% YoY
• ▍Net income −57,6% YoY
• ▍Free cash flow +105,3% YoY
• ▍Net margin 2.6%

Revenue MYR 1.07B, −33,2% YoY; Operating income −34,4% YoY.

• ▍Revenue MYR 1.07B, −33,2% YoY
• ▍Operating income −34,4% YoY
• ▍Net income −32,0% YoY
• ▍Free cash flow −496,3% YoY
• ▍Net margin 5.8%

Revenue MYR 1.61B, +8,5% YoY; Operating income +33,0% YoY.

• ▍Revenue MYR 1.61B, +8,5% YoY
• ▍Operating income +33,0% YoY
• ▍Net income +39,1% YoY
• ▍Free cash flow −35,3% YoY
• ▍Net margin 5.7%

Revenue MYR 1.48B; Operating income MYR 100.2M.

• ▍Revenue MYR 1.48B
• ▍Operating income MYR 100.2M
• ▍Net margin 4.4%