JM Group Ltd (NYSE: JMG)

Sector: Consumer Cyclical Industry: Specialty Retail CIK: 0002049717
Market Cap 105.39 Mn
P/B -34.65
P/E 43.95
P/S 3.04
ROIC (Qtr) 0.00
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 5.61 Mn
Debt/Equity (Qtr) -1.84
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About

Investment thesis

Bull case

  • Tangible assets of 14.88M provide exceptional 56.87x coverage of deferred revenue 261668.51, showing strong service capability backing.
  • Strong tangible asset base of 14.88M provides 2.65x coverage of total debt 5.61M, indicating robust asset backing and low credit risk.
  • Operating cash flow of 2.08M provides strong 7.93x coverage of deferred revenue 261668.51, indicating service delivery capability.
  • Tangible assets of 14.88M provide robust 15.81x coverage of other current liabilities 941256.94, indicating strong asset backing.
  • Strong cash position of 2.27M provides 2.41x coverage of other current liabilities 941256.94, indicating excellent liquidity.

Bear case

  • Free cash flow of 2.08M represents just -2.01x of debt issuance (1.03M), suggesting concerning reliance on leverage rather than internal cash generation for growth.
  • Cash position of 2.27M provides weak coverage of payables of 11.37M, which is 0.20x, indicating potential working capital stress and supplier relationship risks.
  • Tax assets of 0 provide limited offset against tax liabilities of 410394.99, which is 0x, indicating potential future cash flow pressure from tax obligations.
  • Tangible assets of 14.88M provide limited backing for working capital of (2.87M), which is -5.18x, suggesting increased operational risk in market downturns.
  • Fixed assets of 128612.34 showing 0.81x ratio to depreciation of 158297.43 indicates aging infrastructure requiring significant near-term capital investment.

Peer comparison

Companies in the Specialty Retail
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ULTA Ulta Beauty, Inc. 32.20 Bn 27.06 2.69 2.57 Bn
2 WSM Williams Sonoma Inc 29.62 Bn 25.19 3.40 1.47 Bn
3 TSCO Tractor Supply Co /De/ 28.42 Bn 25.23 1.93 5.72 Bn
4 DKS Dick'S Sporting Goods, Inc. 24.98 Bn 88.10 4.64 7.70 Bn
5 CASY Caseys General Stores Inc 24.65 Bn 59.49 1.65 2.92 Bn
6 BBY Best Buy Co Inc 17.85 Bn 11.66 0.41 4.09 Bn
7 MUSA Murphy USA Inc. 15.91 Bn 61.33 1.35 2.75 Bn
8 FIVE Five Below, Inc 11.68 Bn 37.94 2.64 2.01 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.00 2.23
EV to Cash from Ops. EV to Cash from Ops. 0.00 14.70
EV to Debt EV to Debt 0.00 79.39
EV to EBIT EV to EBIT 0.00 -40.16
EV to EBITDA EV to EBITDA 0.00 11.51
EV to Free Cash Flow [EV/FCF] EV to Free Cash Flow [EV/FCF] 0.00 -286.14
EV to Market Cap EV to Market Cap 0.00 6.33
EV to Revenue EV to Revenue 0.00 2.39
Price to Book Value [P/B] P/B -34.65 32.78
Price to Earnings [P/E] P/E 43.95 -36.32
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -4.05
Dividend Payout Ratio % Dividend Payout Ratio % 0.00 14.19
Dividend per Basic Share Div per Share (Qtr) 0.00 0.71
FCF Dividend Payout Ratio % FCF Dividend Payout Ratio % 0.00 18.58
Interest Coverage Interest Coverage 9.07 4.43
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % 0.00 13.87
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 264.15 33.75
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.00
EBIAT Growth (1y) % EBIAT Growth (1y) % 114.27 -272.99
EBITDA Growth (1y) % EBITDA Growth (1y) % 183.63 588.45
EBIT Growth (1y) % EBIT Growth (1y) % 90.08 29.27
EBT Growth (1y) % EBT Growth (1y) % 136.05 -92.23
EPS Growth (1y) % EPS Growth (1y) % 166.59 -121.86
FCF Growth (1y) % FCF Growth (1y) % 1,007.47 71.80
Gross Profit Growth (1y) % Gross Profit Growth (1y) % 17.87 2.50
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Utilization Ratio 0.30 1.24
Cash Payout Ratio Cash Payout Ratio 0.00 0.04
Cash Ratio Cash Ratio (Qtr) 0.13 0.74
Current Ratio Curr Ratio (Qtr) 0.83 3.56
Debt to Equity Ratio Debt/Equity (Qtr) -1.84 25.92
Interest Cover Ratio Interest Cover Ratio 9.07 4.43
Times Interest Earned Times Interest Earned 9.07 4.43
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % 8.90 -42.64
EBIT Margin % EBIT Margin % 65.64 -131.12
EBT Margin % EBT Margin % 7.51 -64.70
Gross Margin % Gross Margin % 14.20 30.93
Net Profit Margin % Net Profit Margin % 6.90 -65.71