Flux Power Holdings, Inc. (NASDAQ: FLUX)

Sector: Industrials Industry: Electrical Equipment & Parts CIK: 0001083743
Market Cap 17.53 Mn
P/B 2.33
P/E -3.45
P/S 0.29
ROIC (Qtr) -35.09
Div Yield % 0.00
Rev 1y % (Qtr) -16.10
Total Debt (Qtr) 5.80 Mn
Debt/Equity (Qtr) 0.77
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About

Investment thesis

Bull case

  • Strong tangible asset base of 30.11M provides 5.19x coverage of total debt 5.80M, indicating robust asset backing and low credit risk.
  • Tangible assets of 30.11M provide exceptional 64.90x coverage of deferred revenue 464000, showing strong service capability backing.
  • Operating cash flow of (7.44M) fully covers other non-current liabilities (141000) by 52.75x, showing strong long-term stability.
  • Robust tangible asset base of 30.11M provides 5.48x coverage of working capital 5.50M, indicating strong operational backing.
  • Tangible assets of 30.11M provide robust 4.81x coverage of other current liabilities 6.26M, indicating strong asset backing.

Bear case

  • With cash reserves of 928000 against inventory of 15.71M, the 0.06 cash-to-inventory ratio suggests potential liquidity risks if inventory turnover slows, particularly concerning given current supply chain volatilities.
  • Investment activities of (621000) provide weak support for R&D spending of 3.77M, which is -0.16x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (7.44M) provides insufficient coverage of deferred revenue obligations of 464000, which is -16.03x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (7.44M) shows concerning coverage of stock compensation expenses of 848000, with a -8.77 ratio indicating potential earnings quality issues.
  • Free cash flow of (8.06M) provides weak coverage of capital expenditures of 621000, with a -12.98 ratio suggesting additional external financing needs for growth initiatives.

Segments Breakdown of Revenue (2025)

Peer comparison

Companies in the Electrical Equipment & Parts
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 VRT Vertiv Holdings Co 93.00 Bn 69.78 9.09 3.16 Bn
2 BE Bloom Energy Corp 34.73 Bn -392.76 17.16 2.99 Bn
3 HUBB Hubbell Inc 27.97 Bn 31.52 4.78 2.33 Bn
4 NVT nVent Electric plc 19.43 Bn 76.81 8.40 1.56 Bn
5 AYI Acuity Inc. (De) 12.85 Bn 109.95 6.86 0.91 Bn
6 AEIS Advanced Energy Industries Inc 11.80 Bn 79.52 6.56 0.68 Bn
7 NVX NOVONIX Ltd 11.53 Bn -174.00 1,943.36 -
8 ENS EnerSys 6.79 Bn 21.71 1.82 1.18 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.90 3.49
EV to Cash from Ops. EV/CFO -3.65 9.10
EV to Debt EV to Debt 4.67 113.17
EV to EBIT EV/EBIT -7.29 -17.64
EV to EBITDA EV/EBITDA -13.45 3.56
EV to Free Cash Flow [EV/FCF] EV/FCF -3.37 39.13
EV to Market Cap EV to Market Cap 1.55 2.59
EV to Revenue EV/Rev 0.45 77.74
Price to Book Value [P/B] P/B 2.33 4.98
Price to Earnings [P/E] P/E -3.45 23.89
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -2.92
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 3.27
Dividend per Basic Share Div per Share (Qtr) 0.00 0.37
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.79
Interest Coverage Int. cover (Qtr) -2.74 -16.86
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 25.36 -135.37
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 5.10 92.17
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.22
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 47.41 -45.52
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 62.75 -56.26
EBIT Growth (1y) % EBIT 1y % (Qtr) 47.41 -64.20
EBT Growth (1y) % EBT 1y % (Qtr) 42.32 8.52
EPS Growth (1y) % EPS 1y % (Qtr) 40.38 13.91
FCF Growth (1y) % FCF 1y % (Qtr) -468.16 -66.58
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 7.77 15.53
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 2.02 0.63
Cash Payout Ratio Cash Payout (Qtr) 0.00 -0.10
Cash Ratio Cash Ratio (Qtr) 0.04 3.50
Current Ratio Curr Ratio (Qtr) 1.25 5.07
Debt to Equity Ratio Debt/Equity (Qtr) 0.77 0.41
Interest Cover Ratio Int Coverage (Qtr) -2.74 -16.86
Times Interest Earned Times Interest Earned (Qtr) -2.74 -16.86
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -3.30 -1,947.23
EBIT Margin % EBIT Margin % (Qtr) -6.12 -2,051.19
EBT Margin % EBT Margin % (Qtr) -8.36 -2,170.94
Gross Margin % Gross Margin % (Qtr) 32.40 2.02
Net Profit Margin % Net Margin % (Qtr) -8.40 -2,202.04