S & F Capital Bhd

S & F Capital Bhd maintains a conservative capital structure with a debt-to-equity ratio of 0.01, significantly below the industry median for real estate firms, indicating minimal leverage risk. The company's liquidity position is characterized as medium, with a current ratio of 1.35, suggesting it can cover short-term obligations but with limited buffer. However, the operating cash flow of -3.69 million MYR indicates a cash outflow from operations, which may raise concerns about short-term liquidity.

Profitability metrics show a return on equity (ROE) of 1.52% and a return on assets (ROA) of 1.12%, both below the industry median for real estate firms, indicating subpar returns relative to its asset base and equity. The company's net income of 933,000 MYR and operating income of 876,000 MYR suggest modest profitability, with a gross profit margin of 5.53% (12.37 million MYR gross profit on 223.64 million MYR revenue).

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification, making it vulnerable to regional economic downturns or regulatory changes. The lack of segmental or geographic breakdown in the financials limits the ability to assess exposure to different markets or product lines.

Looking ahead, the company's revenue outlook is uncertain, with the most recent actual revenue of 74.28 million MYR, significantly lower than the 223.64 million MYR reported in the latest financial snapshot, suggesting potential volatility or reporting inconsistencies. The negative operating cash flow and low profitability metrics raise concerns about the company's ability to sustain growth without external financing.

The risk assessment highlights a key flag: net cash is negative after subtracting total debt, indicating a potential liquidity constraint. The dilution risk is assessed as low, with no near-term pressure from share issuance or convertible instruments, and the company's capital structure remains stable. However, the negative operating cash flow and low ROE suggest the company may need to raise additional capital to fund operations or growth initiatives.

Recent filings and transcripts do not provide additional insights into the company's strategic direction or operational performance, as the available data is limited to basic financial metrics and risk assessments. The absence of detailed disclosures on capital allocation, development pipelines, or market expansion plans limits the ability to assess long-term growth potential.

The company maintains a very low debt-to-equity ratio of 0.01, significantly below the cohort median of 0.52.

Revenue grew at a 6.8% compound annual growth rate over the four-year period ending in fiscal year 2010.

Gross profit remained robust at MYR 5.37 million in fiscal year 2010, despite a significant decline in overall revenue.

The company generated positive free cash flow of MYR 658,070 in fiscal year 2010, indicating some operational liquidity.

Dilution risk is assessed as low, suggesting limited immediate threat to existing shareholder equity value from share issuance.

Operating margin of 3.92% and net margin of 4.17% are both significantly below their respective cohort medians.

Cash conversion ratio of -3.95 places the company in the bottom quartile of its real estate development cohort.

Revenue MYR 15.7M; Operating income MYR 358.0k.

• ▍Revenue MYR 15.7M
• ▍Operating income MYR 358.0k
• ▍Net margin 2.5%

Revenue MYR 15.4M; Operating income -MYR 1.0M.

• ▍Revenue MYR 15.4M
• ▍Operating income -MYR 1.0M
• ▍Net margin -6.4%

Revenue MYR 22.4M; Operating income MYR 876.0k.

• ▍Revenue MYR 22.4M
• ▍Operating income MYR 876.0k
• ▍Net margin 4.2%

Revenue MYR 35.0M, −57,6% YoY; Operating income −142,3% YoY.

• ▍Revenue MYR 35.0M, −57,6% YoY
• ▍Operating income −142,3% YoY
• ▍Net income −120,2% YoY
• ▍Free cash flow −66,9% YoY
• ▍Net margin -0.8%

Revenue MYR 82.4M, +0,7% YoY; Operating income −44,4% YoY.

• ▍Revenue MYR 82.4M, +0,7% YoY
• ▍Operating income −44,4% YoY
• ▍Net income −46,1% YoY
• ▍Free cash flow +1,0% YoY
• ▍Net margin 1.6%

Revenue MYR 81.8M, +256,1% YoY; Operating income +227,5% YoY.

• ▍Revenue MYR 81.8M, +256,1% YoY
• ▍Operating income +227,5% YoY
• ▍Net income +203,5% YoY
• ▍Free cash flow +205,3% YoY
• ▍Net margin 3.0%

Revenue MYR 23.0M, −14,4% YoY; Operating income +78,1% YoY.

• ▍Revenue MYR 23.0M, −14,4% YoY
• ▍Operating income +78,1% YoY
• ▍Net income +74,1% YoY
• ▍Free cash flow +79,2% YoY
• ▍Net margin -10.3%

Revenue MYR 26.8M; Operating income -MYR 9.0M.

• ▍Revenue MYR 26.8M
• ▍Operating income -MYR 9.0M
• ▍Net margin -34.1%