ASFlow Co Ltd

ASFlow maintains a capital structure with a debt-to-equity ratio of 1.05, indicating a balanced mix of debt and equity financing. The company holds 26,111,059,870 KRW in cash and equivalents, but its long-term debt of 61,968,324,830 KRW results in a net cash position of -35,857,264,960 KRW, raising liquidity concerns. The current ratio of 1.39 suggests moderate short-term liquidity, but the risk assessment flags net cash as negative after subtracting total debt.

Profitability metrics show a return on equity (ROE) of 2.96% and a return on assets (ROA) of 1.26%, both below the industry median for semiconductor firms. The price-to-earnings (P/E) ratio of 135.45 is significantly higher than the sector average, reflecting a premium valuation despite relatively modest returns.

ASFlow's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of segmentation exposes the company to operational and market-specific risks, as performance is tied to a single product line and regional demand.

Outlook data indicates a projected revenue decline in the current fiscal year, with no clear recovery expected in the next fiscal year. The company's capital expenditure of -1,031,033,650 KRW suggests a reduction in investment, potentially signaling a strategic shift or financial constraint.

The risk assessment highlights liquidity as a medium concern, with dilution risk rated as low. However, the negative net cash position and high debt-to-equity ratio suggest potential refinancing challenges. No dilution sources are explicitly identified in the latest filings, but the company's capital structure leaves room for future equity issuance.

Recent financial filings show a last actual EPS of -769.00 KRW and revenue of 68,031,660,000 KRW, indicating a recent earnings downturn. No recent earnings call transcripts or material events are disclosed, limiting visibility into management's strategic response to current conditions.

Cash conversion ratio of 1.39 surpasses the cohort median of 0.91, suggesting efficient cash generation.

Capex to revenue ratio of -3.96% is above the median, implying lower capital intensity than peers.

Debt-to-equity ratio of 1.05 places the company in the bottom quartile, highlighting excessive leverage risk.

Free cash flow turned negative recently, dropping to -11.3 billion KRW, raising solvency concerns.

High credit risk and medium liquidity risk flags suggest potential difficulties in meeting financial obligations.

Revenue KRW 13.58B, −36,6% YoY; Operating income −101,9% YoY.

• ▍Revenue KRW 13.58B, −36,6% YoY
• ▍Operating income −101,9% YoY
• ▍Net income −633,1% YoY
• ▍Free cash flow −501,7% YoY
• ▍Net margin -17.9%

Revenue KRW 14.92B, −30,3% YoY; Operating income −12 851,9% YoY.

• ▍Revenue KRW 14.92B, −30,3% YoY
• ▍Operating income −12 851,9% YoY
• ▍Net income −2 357,8% YoY
• ▍Free cash flow −668,5% YoY
• ▍Net margin -36.1%

Revenue KRW 26.00B, −0,1% YoY; Operating income −151,9% YoY.

• ▍Revenue KRW 26.00B, −0,1% YoY
• ▍Operating income −151,9% YoY
• ▍Net income −205,0% YoY
• ▍Free cash flow −198,6% YoY
• ▍Net margin -7.1%

Revenue KRW 21.42B; Operating income -KRW 1.34B.

• ▍Revenue KRW 21.42B
• ▍Operating income -KRW 1.34B
• ▍Net margin 2.1%

Revenue KRW 14.76B; Operating income -KRW 3.30B.

• ▍Revenue KRW 14.76B
• ▍Operating income -KRW 3.30B
• ▍Net margin -29.5%

Revenue KRW 21.40B; Operating income -KRW 20.3M.

• ▍Revenue KRW 21.40B
• ▍Operating income -KRW 20.3M
• ▍Net margin -1.0%

Revenue KRW 26.03B; Operating income KRW 2.79B.

• ▍Revenue KRW 26.03B
• ▍Operating income KRW 2.79B
• ▍Net margin 6.7%

Revenue KRW 67.92B, −18,8% YoY; Operating income −310,9% YoY.

• ▍Revenue KRW 67.92B, −18,8% YoY
• ▍Operating income −310,9% YoY
• ▍Net income −319,8% YoY
• ▍Free cash flow −130,6% YoY
• ▍Net margin -14.6%

Revenue KRW 83.61B, −3,8% YoY; Operating income −129,4% YoY.

• ▍Revenue KRW 83.61B, −3,8% YoY
• ▍Operating income −129,4% YoY
• ▍Net income −166,2% YoY
• ▍Free cash flow −246,7% YoY
• ▍Net margin -2.8%

Revenue KRW 86.87B, −2,0% YoY; Operating income −39,5% YoY.

• ▍Revenue KRW 86.87B, −2,0% YoY
• ▍Operating income −39,5% YoY
• ▍Net income −60,5% YoY
• ▍Free cash flow −57,6% YoY
• ▍Net margin 4.1%

Revenue KRW 88.66B, +50,5% YoY; Operating income +164,9% YoY.

• ▍Revenue KRW 88.66B, +50,5% YoY
• ▍Operating income +164,9% YoY
• ▍Net income +127,5% YoY
• ▍Free cash flow +619,0% YoY
• ▍Net margin 10.2%