BioNexus Gene Lab Corp (NASDAQ: BGLC)

Sector: Basic Materials Industry: Specialty Chemicals CIK: 0001737523
Market Cap 4.90 Mn
P/B 0.72
P/E -2.13
P/S 0.52
ROIC (Qtr) -46.43
Div Yield % 0.00
Rev 1y % (Qtr) -3.29
Total Debt (Qtr) 233,722.00
Debt/Equity (Qtr) 0.03

About

BioNexus Gene Lab Corp, also known as BGLC, operates in the chemical and diagnostic industries, with a focus on the Southeast Asia region. The company has two main segments: Chemical Raw Material Business and mRNA Diagnostics Business. BioNexus' Chemical Raw Material Business is carried out through its subsidiary, Chemrex. Chemrex purchases raw chemical materials from domestic and international manufacturers and sells them to manufacturers in Southeast Asia. The company's products are used to produce a wide range of goods, including handrails,...

Read more

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 1.15M provide 10.80x coverage of short-term debt 106779, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of (2.87M) provides strong 20.35x coverage of stock compensation (141000), indicating sustainable incentive practices.
  • Strong tangible asset base of 7.62M provides 32.61x coverage of total debt 233722, indicating robust asset backing and low credit risk.
  • Tangible assets of 7.62M provide exceptional 676.60x coverage of deferred revenue 11264, showing strong service capability backing.
  • Operating cash flow of (2.87M) fully covers other non-current liabilities (11264) by 254.72x, showing strong long-term stability.

Bear case

  • Operating cash flow of (2.87M) barely covers its investment activities of 1.44M, with a coverage ratio of -1.99, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Operating cash flow of (2.87M) provides insufficient coverage of deferred revenue obligations of 11264, which is -254.72x, raising concerns about future service delivery capabilities.
  • Free cash flow of (2.91M) provides weak coverage of capital expenditures of 40016, with a -72.70 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (2.35M) show weak coverage of depreciation charges of 168134, with a -13.97 ratio indicating high capital intensity and potential reinvestment needs.
  • Free cash flow of (2.91M) represents just -92.61x of debt issuance 31415, suggesting concerning reliance on leverage rather than internal cash generation for growth.

Statement Geographical Axis Breakdown of Revenue (2024)

Timing of Transfer of Good or Service Breakdown of Revenue (2024)

Peer comparison

Companies in the Specialty Chemicals
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 LIN Linde Plc 218.63 Bn 38.41 6.61 25.93 Bn
2 SHW Sherwin Williams Co 110.34 Bn 170.54 11.54 13.58 Bn
3 ECL Ecolab Inc. 80.35 Bn 80.18 5.93 8.67 Bn
4 APD Air Products & Chemicals, Inc. 56.37 Bn 48.29 5.86 18.31 Bn
5 PPG Ppg Industries Inc 34.00 Bn 31.05 2.58 7.91 Bn
6 LYB LyondellBasell Industries N.V. 17.46 Bn 5.03 0.49 13.22 Bn
7 DD DuPont de Nemours, Inc. 16.63 Bn 3.65 0.32 8.90 Bn
8 ALB Albemarle Corp 14.44 Bn 48.94 6.36 3.63 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.56 1.52
EV to Cash from Ops. EV/CFO -1.50 12.52
EV to Debt EV to Debt 18.39 13.65
EV to EBIT EV/EBIT -1.83 21.45
EV to EBITDA EV/EBITDA -1.32 14.82
EV to Free Cash Flow [EV/FCF] EV/FCF -1.48 29.24
EV to Market Cap EV to Market Cap 0.88 3.84
EV to Revenue EV/Rev 0.45 89.11
Price to Book Value [P/B] P/B 0.72 5.48
Price to Earnings [P/E] P/E -2.13 16.02
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -5.31
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 -75.74
Dividend per Basic Share Div per Share (Qtr) 0.00 1.25
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 23.50
Interest Coverage Int. cover (Qtr) -106.35 -8.92
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 82.13 -1.67
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -44.07 72.99
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -3.00
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -146.91 -31.21
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -53.12 51.49
EBIT Growth (1y) % EBIT 1y % (Qtr) -161.02 0.57
EBT Growth (1y) % EBT 1y % (Qtr) -157.88 -80.35
EPS Growth (1y) % EPS 1y % (Qtr) -898.86 -90.82
FCF Growth (1y) % FCF 1y % (Qtr) 12.34 -50.40
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 12.16 219.02
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 1.24 0.70
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.41
Cash Ratio Cash Ratio (Qtr) 1.70 1.28
Current Ratio Curr Ratio (Qtr) 8.30 3.42
Debt to Equity Ratio Debt/Equity (Qtr) 0.03 0.92
Interest Cover Ratio Int Coverage (Qtr) -106.35 -8.92
Times Interest Earned Times Interest Earned (Qtr) -106.35 -8.92
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -23.00 -333.97
EBIT Margin % EBIT Margin % (Qtr) -24.81 -374.34
EBT Margin % EBT Margin % (Qtr) -25.05 -379.75
Gross Margin % Gross Margin % (Qtr) 14.80 29.26
Net Profit Margin % Net Margin % (Qtr) -24.30 -380.67