Lakeshore Acquisition III Corp. (NASDAQ: LCCC)

Sector: Financial Services Industry: Shell Companies CIK: 0002049248
Market Cap 41.58 Mn
P/B -24.11
P/E 33.06
P/S 0.00
ROIC (Qtr) 35.69
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 0.00
Debt/Equity (Qtr) 0.00
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About

Investment thesis

Bull case

  • Robust tangible asset base of 71.62M provides 103.71x coverage of working capital 690592, indicating strong operational backing.
  • Long-term investments of 70.86M provide solid 102.60x backing of working capital 690592, showing strategic capital allocation.
  • Tangible assets of 71.62M provide robust 954.98x coverage of other current liabilities 75000, indicating strong asset backing.
  • Cash reserves of 756592 provide robust 10.09x coverage of current liabilities 75000, indicating strong short-term solvency.
  • Strong cash position of 756592 provides 10.09x coverage of other current liabilities 75000, indicating excellent liquidity.

Bear case

  • Operating cash flow of (519384) barely covers its investment activities of (69M), with a coverage ratio of 0.01, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • High financing cash flow of 70.18M relative to working capital of 690592, which is 101.62x suggests concerning dependence on external funding for operational needs.
  • Operating cash flow of (519384) is outpaced by equity issuance of 71.80M (-0.01 ratio), indicating concerning reliance on equity markets for funding operations.
  • R&D investment of 0 represents just 0x of SG&A expenses of 600384, indicating potential underinvestment in innovation relative to administrative overhead.
  • Equity issuance of 71.80M represents 57.09x of earnings 1.26M, suggesting concerning reliance on share issuance

Peer comparison

Companies in the Shell Companies
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ANSC Agriculture & Natural Solutions Acquisition Corp 493.77 Mn 56.15 0.00 0.84 Mn
2 CCIX Churchill Capital Corp IX/Cayman 395.47 Mn 46.22 0.00 0.00 Mn
3 ALF Centurion Acquisition Corp. 394.73 Mn 32.55 0.00 0.01 Mn
4 GPAT GP-Act III Acquisition Corp. 389.33 Mn 31.65 0.00 0.40 Mn
5 HYAC Haymaker Acquisition Corp. 4 338.26 Mn 38.17 0.00 1.88 Mn
6 SIMA SIM Acquisition Corp. I 328.57 Mn 35.70 0.00 0.00 Mn
7 AFJK Aimei Health Technology Co., Ltd. 303.65 Mn 216.00 0.00 1.66 Mn
8 GRAF Graf Global Corp. 300.58 Mn 34.68 0.00 0.00 Mn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.57 0.95
EV to Cash from Ops. EV/CFO -78.49 18.30
EV to Debt EV to Debt 0.00 125,153.88
EV to EBIT EV/EBIT 32.42 34.06
EV to EBITDA EV/EBITDA -67.90 -165.45
EV to Free Cash Flow [EV/FCF] EV/FCF -78.49 18.30
EV to Market Cap EV to Market Cap 0.98 0.63
EV to Revenue EV to Revenue 0.00 0.00
Price to Book Value [P/B] P/B -24.11 -20.50
Price to Earnings [P/E] P/E 33.06 -125.27
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.04
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.00
Dividend per Basic Share Div per Share (Qtr) 0.00 0.00
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 0.00
Interest Coverage Interest Coverage 0.00 2.94
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % 0.00 0.00
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 650.02 410.95
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.00
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 9,004.23 282.79
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -4,150.81 -126.98
EBIT Growth (1y) % EBIT 1y % (Qtr) 9,004.23 304.32
EBT Growth (1y) % EBT 1y % (Qtr) 9,004.23 303.65
EPS Growth (1y) % EPS Growth (1y) % 3,200.00 956.13
FCF Growth (1y) % FCF 1y % (Qtr) -1,683.35 -37.62
Gross Profit Growth (1y) % Gross Profit Growth (1y) % 0.00 0.00
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.00 0.00
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 10.09 52.04
Current Ratio Curr Ratio (Qtr) 10.21 4.89
Debt to Equity Ratio Debt/Equity (Qtr) 0.00 -0.27
Interest Cover Ratio Interest Cover Ratio 0.00 2.94
Times Interest Earned Times Interest Earned 0.00 2.94
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % 0.00 0.00
EBIT Margin % EBIT Margin % 0.00 0.00
EBT Margin % EBT Margin % 0.00 0.00
Gross Margin % Gross Margin % 0.00 0.00
Net Profit Margin % Net Profit Margin % 0.00 0.00