Aether Holdings, Inc. (NASDAQ: ATHR)

Sector: Technology Industry: Software - Application CIK: 0002026353
Market Cap 66.94 Mn
P/B 14.82
P/E -21.31
P/S 48.48
ROIC (Qtr) -62.20
Div Yield % 0.00
Rev 1y % (Qtr) -3.09
Total Debt (Qtr) 0.00
Debt/Equity (Qtr) 0.00

About

Price action

Investment thesis

Bull case

  • Tangible assets of 5M provide exceptional 13.93x coverage of deferred revenue 358628, showing strong service capability backing.
  • Operating cash flow of (3.57M) fully covers other non-current liabilities (358628) by 9.96x, showing strong long-term stability.
  • Strong cash position of 4.42M provides 12.32x coverage of other current liabilities 358628, indicating excellent liquidity.
  • Tangible assets of 5M provide robust 13.93x coverage of other current liabilities 358628, indicating strong asset backing.
  • Cash reserves of 4.42M provide robust 8.51x coverage of current liabilities 519078, indicating strong short-term solvency.

Bear case

  • Investment activities of (250667) provide weak support for R&D spending of 52500, which is -4.77x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (3.57M) provides insufficient coverage of deferred revenue obligations of 358628, which is -9.96x, raising concerns about future service delivery capabilities.
  • Free cash flow of (3.78M) provides weak coverage of capital expenditures of 209817, with a -18.02 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (3.57M) provides minimal -673.90x coverage of tax expenses of 5298, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Operating earnings of (3.14M) show weak coverage of depreciation charges of 1063, with a -2950.15 ratio indicating high capital intensity and potential reinvestment needs.

Peer comparison

Companies in the Software - Application
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SAP Sap Se 281.21 Bn 33.75 6.55 10.73 Bn
2 CRM Salesforce, Inc. 248.88 Bn 34.46 6.17 11.14 Bn
3 SHOP Shopify Inc. 217.18 Bn 121.94 20.30 1.12 Bn
4 UBER Uber Technologies, Inc 182.87 Bn 10.99 3.69 12.19 Bn
5 INTU Intuit Inc. 182.36 Bn 44.28 9.38 6.78 Bn
6 NOW ServiceNow, Inc. 151.53 Bn 87.54 11.96 2.40 Bn
7 ADBE Adobe Inc. 146.69 Bn 21.08 6.33 6.64 Bn
8 ADP Automatic Data Processing Inc 108.05 Bn 26.12 5.17 9.77 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 12.06 2.68
EV to Cash from Ops. EV/CFO -17.00 13.34
EV to Debt EV to Debt 0.00 57.60
EV to EBIT EV/EBIT -19.36 19.20
EV to EBITDA EV/EBITDA -18.67 15.11
EV to Free Cash Flow [EV/FCF] EV/FCF -16.06 14.78
EV to Market Cap EV to Market Cap 0.91 -93.16
EV to Revenue EV/Rev 43.97 4.63
Price to Book Value [P/B] P/B 14.82 4.29
Price to Earnings [P/E] P/E -21.31 -132.44
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -3.95
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 4.25
Dividend per Basic Share Div per Share (Qtr) 0.00 0.15
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 2.52
Interest Coverage Interest Coverage 0.00 -52.32
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % 0.00 -259.78
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 692.04 9,763.58
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 1.61
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -234.38 -263.15
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -246.86 56.46
EBIT Growth (1y) % EBIT 1y % (Qtr) -233.82 -225.15
EBT Growth (1y) % EBT 1y % (Qtr) -233.82 -86.10
EPS Growth (1y) % EPS 1y % (Qtr) -190.00 123.84
FCF Growth (1y) % FCF 1y % (Qtr) -448.91 -36.82
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -1.73 95.08
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.27 0.58
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.02
Cash Ratio Cash Ratio (Qtr) 8.51 3.75
Current Ratio Curr Ratio (Qtr) 9.22 8.16
Debt to Equity Ratio Debt/Equity (Qtr) 0.00 0.17
Interest Cover Ratio Interest Cover Ratio 0.00 -52.32
Times Interest Earned Times Interest Earned 0.00 -52.32
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -227.00 -100.06
EBIT Margin % EBIT Margin % (Qtr) -227.11 -164.24
EBT Margin % EBT Margin % (Qtr) -227.11 -116.94
Gross Margin % Gross Margin % (Qtr) 70.80 58.20
Net Profit Margin % Net Margin % (Qtr) -227.50 -121.65