Mirae Corp

Mirae Corp's capital structure is characterized by a debt-to-equity ratio of 0.2, indicating a relatively conservative leverage position. The company's liquidity is assessed as medium, with a current ratio of 1.92, suggesting it can cover its short-term obligations but with limited excess capacity. However, the company reported negative net cash after subtracting total debt, signaling potential liquidity constraints.

Profitability metrics for Mirae Corp show a return on equity (ROE) of 1.74% and a return on assets (ROA) of 1.28%, both of which are below the typical thresholds for high-performing semiconductor equipment firms. The company's gross profit margin is 52.7%, which is in line with industry norms, but its operating margin of 9.8% is relatively low, indicating inefficiencies in cost management or pricing power.

Mirae Corp's revenue is concentrated in the semiconductor equipment and testing segment, with no disclosed geographic diversification. The company's exposure to a single business line increases its vulnerability to sector-specific downturns. There is no information available on geographic revenue distribution, which limits the ability to assess regional risk exposure.

The company's growth trajectory is mixed. Revenue for the latest period was KRW 5.16 billion, but there is no historical data provided to assess year-over-year growth. The outlook for the current fiscal year is neutral, with no significant revenue growth expected. The next fiscal year is also projected to show minimal change, suggesting a stable but not expanding business.

Risk factors for Mirae Corp include medium liquidity risk and low dilution potential. The company's negative net cash position after debt is a red flag for liquidity management. There are no disclosed dilution sources, and the company's capital structure remains stable. However, the absence of recent capital raising activity may limit its ability to fund expansion or R&D initiatives.

Recent events for Mirae Corp include the latest financial filing, which shows a negative operating cash flow of KRW -497.89 million and a free cash flow of KRW -3.65 billion. The company's capital expenditure of KRW -4.85 billion indicates significant investment in long-term assets, which may be a strategic move to expand production capacity or enter new markets.

Revenue surged 87.8% year-over-year to 50.8 billion KRW, demonstrating strong top-line growth momentum.

Net income grew 53.1% year-over-year to 10.1 billion KRW, showing robust bottom-line expansion.

Debt-to-equity ratio of 0.2 is below the 0.23 cohort median, suggesting a conservative capital structure.

Free cash flow remains negative at -6.0 billion KRW, highlighting significant cash generation challenges.

Cash conversion ratio of -0.37 falls in the bottom quartile, indicating poor earnings quality.

High credit risk flag suggests potential vulnerabilities in the company's financial stability or debt profile.

Revenue KRW 21.74B, −61,3% YoY; Operating income −348,0% YoY.

• ▍Revenue KRW 21.74B, −61,3% YoY
• ▍Operating income −348,0% YoY
• ▍Net income −492,6% YoY
• ▍Free cash flow −710,7% YoY
• ▍Net margin -144.9%