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Financial statements

MICROALLIANCE GROUP INC. financial statements

Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data MICROALLIANCE GROUP INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2020FY2020FY2021
Revenue2.111.1937.4
Cost of revenue0.280.1810.4
Gross profit1.831.0227
Research and development0.10.10.04
Selling and marketing0.20.110.59
General and administrative1.961.521.53
Operating expenses2.161.632.11
Operating income-0.33-0.6124.9
Other non-operating income-0.0100
Pre-tax income-0.35-0.6124.9
Income tax0.010.026.19
Net income to minority interests-0.6318.7
Net income-0.31-0.6318.7
EBITDA-0.3-0.5825
EPS, basic-0.00-0.000.03
EPS, diluted-0.00-0.000.03
Shares, basic (weighted)600600604
Shares, diluted (weighted)700700704

Balance sheet

FY2020FY2020FY2021
Cash and equivalents0.020.061.19
Receivables3.01
Inventory0.070.0714.2
Other current assets0.130.130.03
Total current assets0.360.5130.4
Property, plant and equipment0.10.090.43
Lease right-of-use assets0.610.380.08
Intangible assets0.080.1
Total assets1.150.9831
Accounts payable0.130.130.03
Accrued liabilities0.070.180.18
Deferred revenue0.460.030.74
Total current liabilities1.131.952.73
Long-term debt0.060.01
Lease liabilities0.370.060.01
Total liabilities1.52.012.75
Total debt0.060.01
Paid-in capital-0.02-0.0210.2
Retained earnings-0.35-0.9814.8
Other comprehensive income0-0.050.23
Shareholders' equity-0.35-1.0428.2
Total equity-0.35-1.0428.2
Total liabilities and equity1.150.9831
Shares outstanding600600609

Cash flow statement

FY2020FY2020FY2021
Net income-0.35-0.6318.7
Depreciation and amortization0.030.030.1
Change in receivables-1.69
Change in inventory-0.070.01
Change in payables0.13-0
Cash from operations0.210.041.29
Capital expenditures-0.11-0-0.12
Acquisitions0.05
Cash from investing-0.19-0-0.18
Exchange rate effect-000.02
Net change in cash0.020.041.13
Free cash flow0.10.031.17

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2022; growth uses fiscal years. Valuation uses the share price of $1.76 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin68.5%Gross profit / revenue.
Operating margin58.0%Operating income / revenue.
EBITDA margin58.6%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin58.1%Pre-tax income / revenue.
Net margin49.6%Net income / revenue.
FCF margin12.5%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin12.5%Cash from operations / revenue.
Effective tax rate26.1%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)37.1%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)35.5%Net income / average total assets.
Return on invested capital (ROIC)36.1%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue0.1%Capital expenditures / revenue.
D&A / revenue0.6%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y3,031.0%Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y2,549.0%Gross profit vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y3,313.0%Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y3,249.0%Free cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y3,077.0%Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y0.5%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio29.7xCurrent assets / current liabilities.
Quick ratio4.42x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio3.51x(Cash + short-term investments) / current liabilities.
Debt / equity0.01xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets1.0%Total debt / total assets.
Liabilities / assets4.3%Total liabilities / total assets.
Net debt-$3.4MTotal debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA-0.25xNet debt / EBITDA (twelve months), when EBITDA is positive.
Working capital$30.1MCurrent assets - current liabilities.
Goodwill and intangibles / assets0.2%(Goodwill + intangible assets) / total assets.
Tangible book value$30.5MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.72xRevenue / average total assets.
Fixed asset turnover78.3xRevenue / average property, plant and equipment.
Inventory turnover0.40xCost of revenue / average inventory.
Days inventory903 days365 x average inventory / cost of revenue.
Receivables turnover24.1xRevenue / average receivables.
Days sales outstanding15 days365 x average receivables / revenue.
Days payables0 days365 x average accounts payable / cost of revenue.
Cash conversion cycle918 daysDays inventory + days sales outstanding - days payables.
FCF conversion25.1%Free cash flow / net income, when net income is positive.
Capex / operating cash flow0.5%Capital expenditures / cash from operations, when that is positive.

Per share

MetricValueHow it is calculated
EPS, diluted$0.02Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share$0.04Revenue / diluted weighted shares.
FCF per share$0.00Free cash flow / diluted weighted shares.
Operating cash flow per share$0.00Cash from operations / diluted weighted shares.
Book value per share$0.05Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share$0.05Tangible book value / shares outstanding.
Cash per share$0.01(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$1.07BShare price x shares outstanding.
Enterprise value$1.07BMarket cap + total debt - cash - short-term investments.
P/E94.5xMarket cap / net income. Only when net income is positive.
P/S46.9xMarket cap / revenue.
P/B35.1xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book35.2xMarket cap / tangible book value, when positive.
P/FCF376xMarket cap / free cash flow. Only when free cash flow is positive.
P/OCF374xMarket cap / cash from operations, when positive.
EV/Sales46.7xEnterprise value / revenue.
EV/EBIT80.5xEnterprise value / operating income, when both are positive.
EV/EBITDA79.7xEnterprise value / EBITDA, when both are positive.
EV/FCF375xEnterprise value / free cash flow, when both are positive.
FCF yield0.3%Free cash flow / market cap.
Earnings yield1.1%Net income / market cap (the inverse of P/E).
What was MICROALLIANCE GROUP INC.'s revenue in fiscal 2021?

MICROALLIANCE GROUP INC. reported revenue of $37.4M for fiscal 2021, 3,030.7% higher than the year before.

Was MICROALLIANCE GROUP INC. profitable in fiscal 2021?

Yes. Net income was $18.7M, a net margin of 49.9%.

How much free cash flow did MICROALLIANCE GROUP INC. generate in fiscal 2021?

Cash from operations of $1.3M minus capital expenditures of $117.8K left free cash flow of $1.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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