Golden Sun Technology Group Ltd. (NASDAQ: GSUN)

Sector: Consumer Defensive Industry: Education & Training Services CIK: 0001826376
Market Cap 3.30 Mn
P/B 0.36
P/E -0.65
P/S 0.09
ROIC (Qtr) 0.00
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 4.08 Mn
Debt/Equity (Qtr) 0.44
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About

Investment thesis

Bull case

  • Operating cash flow of (9.32M) provides exceptional 63.35x coverage of minority interest expenses (147085), showing strong core operations.
  • Strong tangible asset base of 19.22M provides 4.71x coverage of total debt 4.08M, indicating robust asset backing and low credit risk.
  • Operating cash flow of (9.32M) fully covers other non-current liabilities (3.23M) by 2.88x, showing strong long-term stability.
  • Long-term investments of 4.57M provide solid 1.42x coverage of long-term debt 3.21M, indicating strategic financial planning.
  • Cash reserves of 775334 provide ample 3.73x coverage of acquisition spending 207917, enabling strategic growth opportunities.

Bear case

  • Operating cash flow of (9.32M) barely covers its investment activities of 165275, with a coverage ratio of -56.38, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Operating cash flow of (9.32M) provides insufficient coverage of deferred revenue obligations of 4.52M, which is -2.06x, raising concerns about future service delivery capabilities.
  • High receivables of 2.20M relative to inventory of 73861 (29.80 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Free cash flow of (9.33M) provides weak coverage of capital expenditures of 9367, with a -995.79 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (4.75M) show weak coverage of depreciation charges of 140594, with a -33.79 ratio indicating high capital intensity and potential reinvestment needs.

Product and Service Breakdown of Revenue (2025)

Timing of Transfer of Good or Service Breakdown of Revenue (2025)

Peer comparison

Companies in the Education & Training Services
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 EDU New Oriental Education & Technology Group Inc. 9.35 Bn 24.58 1.82 0.78 Bn
2 TAL TAL Education Group 6.18 Bn 22.22 2.20 0.38 Bn
3 GHC Graham Holdings Co 5.47 Bn 12.27 1.91 1.17 Bn
4 LAUR Laureate Education, Inc. 5.20 Bn 25.55 3.29 0.44 Bn
5 LOPE Grand Canyon Education, Inc. 4.62 Bn 21.85 4.23 0.11 Bn
6 LRN Stride, Inc. 3.61 Bn 11.32 1.43 0.56 Bn
7 ATGE Covista Inc. 3.46 Bn 13.66 1.83 0.73 Bn
8 PRDO PERDOCEO EDUCATION Corp 2.84 Bn 42.39 1.73 0.06 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.52 0.71
EV to Cash from Ops. EV/CFO -1.34 6.80
EV to Debt EV to Debt 3.07 11.15
EV to EBIT EV/EBIT -2.63 112.78
EV to EBITDA EV/EBITDA -6.38 6.48
EV to Free Cash Flow [EV/FCF] EV/FCF -1.34 5.57
EV to Market Cap EV to Market Cap 3.79 582,173.64
EV to Revenue EV/Rev 0.35 1.74
Price to Book Value [P/B] P/B 0.36 -3.80
Price to Earnings [P/E] P/E -0.65 -1.70
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 11.73
Dividend Payout Ratio % Dividend Payout Ratio % 0.00 2.21
Dividend per Basic Share Div per Share (Qtr) 0.00 0.25
FCF Dividend Payout Ratio % FCF Dividend Payout Ratio % 0.00 1.69
Interest Coverage Interest Coverage -13.95 53.05
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % 80.12 -82.12
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 5.20 25.11
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.54
EBIAT Growth (1y) % EBIAT Growth (1y) % -36.90 -39.04
EBITDA Growth (1y) % EBITDA Growth (1y) % -24.49 -34.79
EBIT Growth (1y) % EBIT Growth (1y) % -37.62 -40.70
EBT Growth (1y) % EBT Growth (1y) % -37.99 -52.53
EPS Growth (1y) % EPS Growth (1y) % 4.28 -29.51
FCF Growth (1y) % FCF Growth (1y) % -88.51 -36.51
Gross Profit Growth (1y) % Gross Profit Growth (1y) % -18.98 -3.42
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Utilization Ratio 1.48 0.63
Cash Payout Ratio Cash Payout Ratio 0.00 0.01
Cash Ratio Cash Ratio (Qtr) 0.07 0.73
Current Ratio Curr Ratio (Qtr) 1.20 1.63
Debt to Equity Ratio Debt/Equity (Qtr) 0.44 3.83
Interest Cover Ratio Interest Cover Ratio -13.95 53.05
Times Interest Earned Times Interest Earned -13.95 53.05
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % -13.00 -30.62
EBIT Margin % EBIT Margin % -13.39 -82.13
EBT Margin % EBT Margin % -14.35 -47.07
Gross Margin % Gross Margin % 2.30 50.48
Net Profit Margin % Net Profit Margin % -14.30 -48.61