Linkhome Holdings Inc. (NASDAQ: LHAI)

Sector: Real Estate Industry: Real Estate Services CIK: 0002017758
Market Cap 23.89 Mn
P/B 3.32
P/E 48.00
P/S 1.32
ROIC (Qtr) -0.47
Div Yield % 0.00
Rev 1y % (Qtr) 162.77
Total Debt (Qtr) 439,680.00
Debt/Equity (Qtr) 0.06
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About

Investment thesis

Bull case

  • Healthy cash reserves of 3.66M provide 31.50x coverage of short-term debt 116270, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 8.62M provides 19.61x coverage of total debt 439680, indicating robust asset backing and low credit risk.
  • Retained earnings of 1.25M provide full 3.88x coverage of long-term debt 323410, indicating strong internal capital position.
  • Tangible assets of 8.62M provide robust 9.68x coverage of other current liabilities 890235, indicating strong asset backing.
  • Strong cash position of 3.66M provides 4.11x coverage of other current liabilities 890235, indicating excellent liquidity.

Bear case

  • Free cash flow of (1.60M) provides weak coverage of capital expenditures of 306125, with a -5.24 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (1.30M) provides minimal -6.89x coverage of tax expenses of 188375, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • High financing cash flow of 4.55M relative to working capital of 5.27M, which is 0.86x suggests concerning dependence on external funding for operational needs.
  • Operating cash flow of (1.30M) is outpaced by equity issuance of 4.66M (-0.28 ratio), indicating concerning reliance on equity markets for funding operations.
  • R&D investment of 0 represents just 0x of SG&A expenses of 468634, indicating potential underinvestment in innovation relative to administrative overhead.

Peer comparison

Companies in the Real Estate Services
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 CBRE Cbre Group, Inc. 42.12 Bn 36.40 1.04 9.99 Bn
2 BEKE KE Holdings Inc. 19.37 Bn 39.77 1.33 2.96 Bn
3 CSGP Costar Group, Inc. 18.57 Bn 914.80 6.08 1.18 Bn
4 JLL Jones Lang Lasalle Inc 13.60 Bn 21.53 0.54 3.48 Bn
5 FSV FirstService Corp 7.02 Bn 48.37 1.28 1.38 Bn
6 CIGI Colliers International Group Inc. 5.59 Bn 54.27 1.01 2.29 Bn
7 COMP Compass, Inc. 5.18 Bn -91.82 0.78 0.48 Bn
8 OPEN Opendoor Technologies Inc. 3.12 Bn -9.84 0.66 1.79 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.48 1.18
EV to Cash from Ops. EV/CFO -16.47 -6.57
EV to Debt EV to Debt 48.62 5.19
EV to EBIT EV/EBIT 31.03 4.86
EV to EBITDA EV/EBITDA 26.91 13.56
EV to Free Cash Flow [EV/FCF] EV/FCF -13.33 -11.14
EV to Market Cap EV to Market Cap 0.89 7.70
EV to Revenue EV/Rev 1.18 3.49
Price to Book Value [P/B] P/B 3.32 1.76
Price to Earnings [P/E] P/E 48.00 40.59
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.36
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 -7.05
Dividend per Basic Share Div per Share (Qtr) 0.00 0.22
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 0.46
Interest Coverage Int. cover (Qtr) 231.07 -2.20
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % -12,328.95 -12,527.01
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 409.98 24.62
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 1.26
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 7.64 10.86
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 13.26 33.08
EBIT Growth (1y) % EBIT 1y % (Qtr) 8.64 19.37
EBT Growth (1y) % EBT 1y % (Qtr) 8.82 28.48
EPS Growth (1y) % EPS 1y % (Qtr) 0.00 29.29
FCF Growth (1y) % FCF 1y % (Qtr) -79.69 67.74
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 10.47 33.25
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 2.10 1.44
Cash Payout Ratio Cash Payout (Qtr) 0.00 -0.01
Cash Ratio Cash Ratio (Qtr) 3.34 1.45
Current Ratio Curr Ratio (Qtr) 5.80 2.16
Debt to Equity Ratio Debt/Equity (Qtr) 0.06 -0.07
Interest Cover Ratio Int Coverage (Qtr) 231.07 -2.20
Times Interest Earned Times Interest Earned (Qtr) 231.07 -2.20
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 4.40 -120.34
EBIT Margin % EBIT Margin % (Qtr) 3.80 -135.17
EBT Margin % EBT Margin % (Qtr) 3.79 -142.98
Gross Margin % Gross Margin % (Qtr) 6.40 32.99
Net Profit Margin % Net Margin % (Qtr) 2.70 -138.31