Aeluma, Inc. (NASDAQ: ALMU)

Sector: Technology Industry: Semiconductors CIK: 0001828805
Market Cap 337.25 Mn
P/B 8.27
P/E -122.92
P/S 64.50
ROIC (Qtr) -13.07
Div Yield % 0.00
Rev 1y % (Qtr) -21.09
Total Debt (Qtr) 1.13 Mn
Debt/Equity (Qtr) 0.03
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About

Investment thesis

Bull case

  • Healthy cash reserves of 38.57M provide 200.90x coverage of short-term debt 192000, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 42.57M provides 37.54x coverage of total debt 1.13M, indicating robust asset backing and low credit risk.
  • Tangible assets of 42.57M provide robust 94.81x coverage of other current liabilities 449000, indicating strong asset backing.
  • Cash reserves of 38.57M provide robust 46.75x coverage of current liabilities 825000, indicating strong short-term solvency.
  • Strong cash position of 38.57M provides 85.91x coverage of other current liabilities 449000, indicating excellent liquidity.

Bear case

  • Investment activities of (361203) provide weak support for R&D spending of 2.14M, which is -0.17x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (881784) shows concerning coverage of stock compensation expenses of 3.69M, with a -0.24 ratio indicating potential earnings quality issues.
  • Free cash flow of (1.24M) provides weak coverage of capital expenditures of 361203, with a -3.44 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (2.74M) show weak coverage of depreciation charges of 422694, with a -6.49 ratio indicating high capital intensity and potential reinvestment needs.
  • High financing cash flow of 36.75M relative to working capital of 39.44M, which is 0.93x suggests concerning dependence on external funding for operational needs.

Peer comparison

Companies in the Semiconductors
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 NVDA Nvidia Corp 4,081.81 Bn 2,078.31 541.21 10.48 Bn
2 TSM Taiwan Semiconductor Manufacturing Co Ltd 1,887.11 Bn 425.89 133.83 31.18 Bn
3 AVGO Broadcom Inc. 1,662.70 Bn -332,540.00 1,106.25 65.14 Bn
4 MU Micron Technology Inc 426.40 Bn 109.53 25.16 12.43 Bn
5 AMD Advanced Micro Devices Inc 329.72 Bn 76.06 9.52 3.85 Bn
6 TXN Texas Instruments Inc 224.64 Bn 55.45 14.64 14.05 Bn
7 INTC Intel Corp 205.50 Bn -769.67 3.89 46.59 Bn
8 QCOM Qualcomm Inc/De 153.04 Bn 28.53 3.41 14.82 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 7.34 4.34
EV to Cash from Ops. EV/CFO -354.40 -208.66
EV to Debt EV to Debt 275.58 79.86
EV to EBIT EV/EBIT -113.91 709.44
EV to EBITDA EV/EBITDA -61.68 250.41
EV to Free Cash Flow [EV/FCF] EV/FCF -251.42 403.96
EV to Market Cap EV to Market Cap 0.93 0.75
EV to Revenue EV/Rev 59.77 61.40
Price to Book Value [P/B] P/B 8.27 52.11
Price to Earnings [P/E] P/E -122.92 -5,067.15
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 2.41
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 -3.82
Dividend per Basic Share Div per Share (Qtr) 0.00 0.63
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 20.71
Interest Coverage Int. cover (Qtr) 0.00 8.87
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -81.77 -164.54
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 1,159.26 64.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.42
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 50.80 60.52
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -164.95 86.38
EBIT Growth (1y) % EBIT 1y % (Qtr) 50.80 52.71
EBT Growth (1y) % EBT 1y % (Qtr) 50.80 57.92
EPS Growth (1y) % EPS 1y % (Qtr) 71.74 65.33
FCF Growth (1y) % FCF 1y % (Qtr) 50.39 109.17
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 94.29 27.07
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.12 0.50
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.09
Cash Ratio Cash Ratio (Qtr) 46.75 2.55
Current Ratio Curr Ratio (Qtr) 48.80 5.58
Debt to Equity Ratio Debt/Equity (Qtr) 0.03 0.30
Interest Cover Ratio Int Coverage (Qtr) 0.00 8.87
Times Interest Earned Times Interest Earned (Qtr) 0.00 8.87
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -44.40 -115.40
EBIT Margin % EBIT Margin % (Qtr) -52.47 -94.51
EBT Margin % EBT Margin % (Qtr) -52.47 -136.09
Gross Margin % Gross Margin % (Qtr) 50.20 47.45
Net Profit Margin % Net Margin % (Qtr) -52.50 -137.24