Bioharvest Sciences Inc. (NASDAQ: BHST)

Sector: Consumer Defensive Industry: Packaged Foods CIK: 0001723464
Market Cap 76.92 Mn
P/B 9.94
P/E -6.47
P/S 2.35
ROIC (Qtr) -30.02
Div Yield % 0.00
Rev 1y % (Qtr) 38.66
Total Debt (Qtr) 17.36 Mn
Debt/Equity (Qtr) 2.24
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About

Investment thesis

Bull case

  • Healthy cash reserves of 10.97M provide 2.13x coverage of short-term debt 5.14M, demonstrating strong liquidity position and minimal refinancing risk.
  • Tangible assets of 35.19M provide exceptional 80.34x coverage of deferred revenue 438000, showing strong service capability backing.
  • Robust tangible asset base of 35.19M provides 7.57x coverage of working capital 4.65M, indicating strong operational backing.
  • Tangible assets of 35.19M provide robust 19.32x coverage of other current liabilities 1.82M, indicating strong asset backing.
  • Cash reserves of 10.97M provide robust 0.83x coverage of current liabilities 13.19M, indicating strong short-term solvency.

Bear case

  • Investment activities of (2.10M) provide weak support for R&D spending of 5.41M, which is -0.39x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (7.36M) provides insufficient coverage of deferred revenue obligations of 438000, which is -16.81x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (7.36M) shows concerning coverage of stock compensation expenses of 596000, with a -12.35 ratio indicating potential earnings quality issues.
  • Operating cash flow of (7.36M) provides minimal -49.75x coverage of tax expenses of 148000, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Free cash flow of (9.46M) provides weak coverage of capital expenditures of 2.09M, with a -4.52 ratio suggesting additional external financing needs for growth initiatives.

Peer comparison

Companies in the Packaged Foods
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 KHC Kraft Heinz Co 28.20 Bn -4.82 1.13 21.22 Bn
2 GIS General Mills Inc 26.99 Bn 20.72 1.54 13.73 Bn
3 JBS Jbs N.V. 17.81 Bn 10.08 0.23 23.92 Bn
4 MKC Mccormick & Co Inc 16.10 Bn 44.21 3.77 4.00 Bn
5 HRL Hormel Foods Corp /De/ 12.37 Bn 18.03 1.34 2.86 Bn
6 SJM J M SMUCKER Co 11.08 Bn 19.60 1.97 7.91 Bn
7 PPC Pilgrims Pride Corp 10.32 Bn 9.54 0.56 3.29 Bn
8 MICC Magnum Ice Cream Co N.V. 9.71 Bn 28.17 1.04 4.02 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.68 1.47
EV to Cash from Ops. EV/CFO -12.80 29.75
EV to Debt EV to Debt 5.43 27.85
EV to EBIT EV/EBIT -15.35 86.88
EV to EBITDA EV/EBITDA -20.46 -156.20
EV to Free Cash Flow [EV/FCF] EV/FCF -9.97 -5.67
EV to Market Cap EV to Market Cap 1.23 1.15
EV to Revenue EV/Rev 2.88 7.32
Price to Book Value [P/B] P/B 9.94 8.48
Price to Earnings [P/E] P/E -6.47 14.45
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 4.58
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 3.76
Dividend per Basic Share Div per Share (Qtr) 0.00 0.65
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 22.76
Interest Coverage Int. cover (Qtr) -1.10 6.64
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 23.38 -118.07
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 296.17 43.48
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.66
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 30.15 -48.16
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 31.46 -152.35
EBIT Growth (1y) % EBIT 1y % (Qtr) 31.02 -50.79
EBT Growth (1y) % EBT 1y % (Qtr) 31.72 -54.94
EPS Growth (1y) % EPS 1y % (Qtr) 43.80 -28.10
FCF Growth (1y) % FCF 1y % (Qtr) 1.27 7.02
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 59.96 439.70
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.93 1.01
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.12
Cash Ratio Cash Ratio (Qtr) 0.83 0.86
Current Ratio Curr Ratio (Qtr) 1.35 2.60
Debt to Equity Ratio Debt/Equity (Qtr) 2.24 2.21
Interest Cover Ratio Int Coverage (Qtr) -1.10 6.64
Times Interest Earned Times Interest Earned (Qtr) -1.10 6.64
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -14.10 -919.13
EBIT Margin % EBIT Margin % (Qtr) -18.77 -1,474.87
EBT Margin % EBT Margin % (Qtr) -35.88 -1,537.76
Gross Margin % Gross Margin % (Qtr) 59.20 26.98
Net Profit Margin % Net Margin % (Qtr) -36.30 -1,538.60