GCT Semiconductor Holding, Inc. (NYSE: GCTS)

Sector: Technology Industry: Semiconductors CIK: 0001851961
P/B -0.92
P/E -1.88
P/S 19.02
Market Cap 74.06 Mn
ROIC (Qtr) 198.72
Div Yield % 0.00
Rev 1y % (Qtr) -83.52
Total Debt (Qtr) 65.14 Mn
Debt/Equity (Qtr) -0.81

About

GCT Semiconductor Holding, Inc., also known as GCTS, is a technology company that operates in the semiconductor industry. The company generates revenue through the development and sale of semiconductor products and services. Its primary products include semiconductors, which are used in a variety of applications such as consumer electronics, automotive, and industrial control systems. GCTS has a diverse customer base, including technology companies, automotive manufacturers, and industrial equipment manufacturers. The company's semiconductor business...

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Analysis

Pros

  • Tangible assets of 24.27M provide exceptional 2205.91x coverage of deferred revenue 11000, showing strong service capability backing.
  • R&D investment of 14.30M represents healthy 1300.18x of deferred revenue 11000, indicating strong future innovation pipeline.
  • Retained earnings of (596.39M) represent substantial 7.44x of equity (80.15M), indicating strong internal capital generation.
  • Cash position of 8.34M provides strong 758.45x coverage of deferred revenue 11000, ensuring service delivery capability.
  • Robust R&D investment of 14.30M at 0.85x of SG&A 16.86M demonstrates strong commitment to innovation and future growth.

Cons

  • Investment activities of (1.50M) provide weak support for R&D spending of 14.30M, which is -0.10x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (25.72M) provides insufficient coverage of deferred revenue obligations of 11000, which is -2338.18x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (25.72M) shows concerning coverage of stock compensation expenses of 3.48M, with a -7.40 ratio indicating potential earnings quality issues.
  • Free cash flow of (27.22M) provides weak coverage of capital expenditures of 1.50M, with a -18.15 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (25.72M) provides minimal -44.34x coverage of tax expenses of 580000, suggesting potential tax planning inefficiencies or unsustainable tax positions.

Peer Comparison

Companies in the Semiconductors
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 NVDA Nvidia Corp 4,276.26 Bn 43.11 22.85 10.48 Bn
2 AVGO Broadcom Inc. 1,690.87 Bn 89.31 28.22 64.23 Bn
3 TSM Taiwan Semiconductor Manufacturing Co Ltd 1,514.32 Bn 29.36 12.71 31.18 Bn
4 AMD Advanced Micro Devices Inc 343.27 Bn 103.83 10.72 3.87 Bn
5 MU Micron Technology Inc 269.16 Bn 31.52 7.20 15.28 Bn
6 INTC Intel Corp 249.55 Bn 1,260.33 4.67 46.55 Bn
7 QCOM Qualcomm Inc/De 195.62 Bn 35.30 4.42 14.81 Bn
8 TXN Texas Instruments Inc 163.92 Bn 32.50 9.49 14.05 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 5.16 3.95
EV to Cash from Ops. -4.87 -331.60
EV to Debt 1.92 86.14
EV to EBIT -3.68 -55.96
EV to EBITDA -4.09 20.88
EV to Free Cash Flow [EV/FCF] -4.60 -4.09
EV to Market Cap 1.69 0.80
EV to Revenue 32.16 18.79
Price to Book Value [P/B] -0.92 5.23
Price to Earnings [P/E] -1.88 12.47

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 2.29
Dividend Payout Ratio % 0.00 8.00
Dividend per Basic Share 0.00 0.62
FCF Dividend Payout Ratio % 0.00 10.38
Interest Coverage -7.17 8.19

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % -546.55 -155.77
Cash and Equivalents Growth (1y) % 360.43 44.44
Dividend Growth (1y) % 0.00 5.30
EBIAT Growth (1y) % -175.67 34.22
EBITDA Growth (1y) % -32.13 47.50
EBIT Growth (1y) % -181.26 30.14
EBT Growth (1y) % -128.37 47.04
EPS Growth (1y) % -32.76 36.18
FCF Growth (1y) % 8.74 252.76
Gross Profit Growth (1y) % -100.13 43.92

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.16 0.49
Cash Payout Ratio 0.00 0.09
Cash Ratio 0.10 2.23
Current Ratio 0.25 5.43
Debt to Equity Ratio -0.81 0.34
Interest Cover Ratio -7.17 8.19
Times Interest Earned -7.17 8.19

Profitability

Metric Value Industry Percentile
EBITDA Margin % -838.50 -112.44
EBIT Margin % -873.47 -92.10
EBT Margin % -995.30 -132.39
Gross Margin % -0.20 47.63
Net Profit Margin % -1,010.20 -133.41