bioAffinity Technologies, Inc. (NASDAQ: BIAF)

Sector: Healthcare Industry: Diagnostics & Research CIK: 0001712762
Market Cap 598,295.45
P/B 0.07
P/E -0.04
P/S 0.09
ROIC (Qtr) -255.97
Div Yield % 0.00
Rev 1y % (Qtr) -38.48
Total Debt (Qtr) 680,948.00
Debt/Equity (Qtr) 0.08

About

BioAffinity Technologies, Inc., a prominent player in the biotechnology industry, is known for its development of non-invasive diagnostic tests to detect early-stage lung cancer and other lung diseases. The company's primary product, CyPath Lung, is a test that utilizes flow cytometry technology to analyze cell populations in a person's sputum to identify characteristics indicative of lung cancer. BioAffinity's business model revolves around the creation and commercialization of its proprietary diagnostic tests, including CyPath Lung. These tests...

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Price action

Investment thesis

Bull case

  • Healthy cash reserves of 7.67M provide 19.35x coverage of short-term debt 396350, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 9.41M provides 13.82x coverage of total debt 680948, indicating robust asset backing and low credit risk.
  • Tangible assets of 9.41M provide exceptional 248.20x coverage of deferred revenue 37915, showing strong service capability backing.
  • Operating cash flow of (8.45M) fully covers other non-current liabilities (37915) by 222.77x, showing strong long-term stability.
  • Tangible assets of 9.41M provide robust 9.20x coverage of other current liabilities 1.02M, indicating strong asset backing.

Bear case

  • Investment activities of (60568) provide weak support for R&D spending of 1.40M, which is -0.04x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (8.45M) provides insufficient coverage of deferred revenue obligations of 37915, which is -222.77x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (8.45M) shows concerning coverage of stock compensation expenses of 839442, with a -10.06 ratio indicating potential earnings quality issues.
  • High receivables of 448990 relative to inventory of 35234 (12.74 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Free cash flow of (8.51M) provides weak coverage of capital expenditures of 60568, with a -140.45 ratio suggesting additional external financing needs for growth initiatives.

Peer comparison

Companies in the Diagnostics & Research
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 TMO Thermo Fisher Scientific Inc. 217.82 Bn 68.63 8.84 35.68 Bn
2 DHR Danaher Corp /De/ 152.30 Bn 63.15 9.19 16.86 Bn
3 IDXX Idexx Laboratories Inc /De 52.07 Bn 50.68 12.49 1.09 Bn
4 A Agilent Technologies, Inc. 43.58 Bn 58.11 13.53 3.35 Bn
5 IQV Iqvia Holdings Inc. 32.77 Bn 25.54 2.06 15.19 Bn
6 DGX Quest Diagnostics Inc 30.26 Bn 44.25 4.05 6.38 Bn
7 LH Labcorp Holdings Inc. 28.36 Bn 23.29 2.64 6.53 Bn
8 MTD Mettler Toledo International Inc/ 28.31 Bn 32.57 7.03 2.15 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.04 2.61
EV to Cash from Ops. EV/CFO -0.06 17.76
EV to Debt EV to Debt 0.68 46.77
EV to EBIT EV/EBIT -0.03 15.40
EV to EBITDA EV/EBITDA -0.05 5.16
EV to Free Cash Flow [EV/FCF] EV/FCF -0.05 15.58
EV to Market Cap EV to Market Cap 0.78 1.76
EV to Revenue EV/Rev 0.07 5.14
Price to Book Value [P/B] P/B 0.07 -21.17
Price to Earnings [P/E] P/E -0.04 12.08
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -1.84
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 2.86
Dividend per Basic Share Div per Share (Qtr) 0.00 0.19
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.94
Interest Coverage Int. cover (Qtr) -259.85 -139.68
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 7.73 -36.38
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 913.67 23.63
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.25
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -75.77 10.94
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -27.09 -444.99
EBIT Growth (1y) % EBIT 1y % (Qtr) -75.58 7.67
EBT Growth (1y) % EBT 1y % (Qtr) -74.31 -7.01
EPS Growth (1y) % EPS 1y % (Qtr) 13.97 16.69
FCF Growth (1y) % FCF 1y % (Qtr) -17.02 55.89
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -42.47 185.51
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.59 0.58
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.01
Cash Ratio Cash Ratio (Qtr) 3.25 1.24
Current Ratio Curr Ratio (Qtr) 3.65 2.73
Debt to Equity Ratio Debt/Equity (Qtr) 0.08 -2.52
Interest Cover Ratio Int Coverage (Qtr) -259.85 -139.68
Times Interest Earned Times Interest Earned (Qtr) -259.85 -139.68
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -208.20 -97.23
EBIT Margin % EBIT Margin % (Qtr) -216.06 -115.64
EBT Margin % EBT Margin % (Qtr) -216.89 -114.24
Gross Margin % Gross Margin % (Qtr) 27.90 44.75
Net Profit Margin % Net Margin % (Qtr) -217.50 -113.07