Clene Inc. (NASDAQ: CLNN)

Sector: Consumer Defensive Industry: Packaged Foods CIK: 0001822791
Market Cap 37.96 Mn
P/B -3.07
P/E -1.24
P/S 177.40
ROIC (Qtr) -228.16
Div Yield % 0.00
Rev 1y % (Qtr) -82.76
Total Debt (Qtr) 21.31 Mn
Debt/Equity (Qtr) -1.72
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About

Investment thesis

Bull case

  • Healthy cash reserves of 7.98M provide 3.91x coverage of short-term debt 2.04M, demonstrating strong liquidity position and minimal refinancing risk.
  • Retained earnings of (299.07M) represent substantial 24.20x of equity (12.36M), indicating strong internal capital generation.
  • Robust tangible asset base of 22.31M provides 5.11x coverage of working capital 4.37M, indicating strong operational backing.
  • Tangible assets of 22.31M provide robust 4.56x coverage of other current liabilities 4.89M, indicating strong asset backing.
  • Cash reserves of 7.98M provide robust 0.96x coverage of current liabilities 8.31M, indicating strong short-term solvency.

Bear case

  • Investment activities of (13000) provide weak support for R&D spending of 14.08M, which is -0x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (18.61M) shows concerning coverage of stock compensation expenses of 6.82M, with a -2.73 ratio indicating potential earnings quality issues.
  • Free cash flow of (18.62M) provides weak coverage of capital expenditures of 12000, with a -1552 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (28.04M) show weak coverage of depreciation charges of 2.09M, with a -13.43 ratio indicating high capital intensity and potential reinvestment needs.
  • Free cash flow of (18.62M) represents just -55.43x of debt issuance 336000, suggesting concerning reliance on leverage rather than internal cash generation for growth.

Consolidation Items Breakdown of Revenue (2024)

Product and Service Breakdown of Revenue (2024)

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 2.31 1.47
EV to Cash from Ops. EV/CFO -2.77 29.75
EV to Debt EV to Debt 2.41 27.85
EV to EBIT EV/EBIT -1.84 86.88
EV to EBITDA EV/EBITDA -2.32 -156.20
EV to Free Cash Flow [EV/FCF] EV/FCF -2.76 -5.67
EV to Market Cap EV to Market Cap 1.36 1.15
EV to Revenue EV/Rev 240.49 7.32
Price to Book Value [P/B] P/B -3.07 8.48
Price to Earnings [P/E] P/E -1.24 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) -11.44 6.64
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 78.95 -118.07
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -45.70 43.48
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.66
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 10.33 -48.16
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 31.18 -152.35
EBIT Growth (1y) % EBIT 1y % (Qtr) 10.33 -50.79
EBT Growth (1y) % EBT 1y % (Qtr) 15.35 -54.94
EPS Growth (1y) % EPS 1y % (Qtr) 36.40 -28.10
FCF Growth (1y) % FCF 1y % (Qtr) 21.38 7.02
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -46.83 439.70
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.01 1.01
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.12
Cash Ratio Cash Ratio (Qtr) 0.96 0.86
Current Ratio Curr Ratio (Qtr) 1.53 2.60
Debt to Equity Ratio Debt/Equity (Qtr) -1.72 2.21
Interest Cover Ratio Int Coverage (Qtr) -11.44 6.64
Times Interest Earned Times Interest Earned (Qtr) -11.44 6.64
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -12,129.00 -919.13
EBIT Margin % EBIT Margin % (Qtr) -13,104.67 -1,474.87
EBT Margin % EBT Margin % (Qtr) -14,250.47 -1,537.76
Gross Margin % Gross Margin % (Qtr) 82.20 26.98
Net Profit Margin % Net Margin % (Qtr) -14,250.50 -1,538.60