Laird Superfood, Inc. (NYSE: LSF)

Sector: Consumer Defensive Industry: Packaged Foods CIK: 0001650696
Market Cap 30.27 Mn
P/B 2.36
P/E -16.00
P/S 0.63
ROIC (Qtr) -15.85
Div Yield % 0.00
Rev 1y % (Qtr) 9.50
Total Debt (Qtr) 179,152.00
Debt/Equity (Qtr) 0.01
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About

Laird Superfood, Inc. (LSF) is a company that operates in the food industry, specifically as a manufacturer and marketer of clean, plant-based, and functional foods. The company's core pillars include SuperfoodCoffee creamers, Hydration and beverage enhancing supplements, Harvest snacks and other food items, and functional Coffee, tea, and hot chocolate products. Laird Superfood's long-term goal is to build a widely recognized brand that focuses on natural ingredients, nutritional density, and functionality, allowing the company to tap into the...

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Investment thesis

Bull case

  • Healthy cash reserves of 5.28M provide 48.75x coverage of short-term debt 108350, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 18.61M provides 103.85x coverage of total debt 179152, indicating robust asset backing and low credit risk.
  • Tangible assets of 18.61M provide robust 5.58x coverage of other current liabilities 3.34M, indicating strong asset backing.
  • Strong cash position of 5.28M provides 1.58x coverage of other current liabilities 3.34M, indicating excellent liquidity.
  • Cash reserves of 5.28M provide robust 0.88x coverage of current liabilities 5.98M, indicating strong short-term solvency.

Bear case

  • Free cash flow of (2.54M) provides weak coverage of capital expenditures of 24776, with a -102.49 ratio suggesting additional external financing needs for growth initiatives.
  • The company's operating cash flow of (2.51M) shows concerning coverage of stock compensation expenses of 2M, with a -1.26 ratio indicating potential earnings quality issues.
  • Operating cash flow of (2.51M) provides minimal -62.20x coverage of tax expenses of 40426, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Operating earnings of (1.85M) show weak coverage of depreciation charges of 251886, with a -7.35 ratio indicating high capital intensity and potential reinvestment needs.
  • Tangible assets of 18.61M provide limited backing for working capital of 12.41M, which is 1.50x, suggesting increased operational risk in market downturns.

Product and Service Breakdown of Revenue (2024)

Contract with Customer, Sales Channel Breakdown of Revenue (2024)

Peer comparison

Companies in the Packaged Foods
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 KHC Kraft Heinz Co 28.20 Bn -4.82 1.13 21.22 Bn
2 GIS General Mills Inc 26.99 Bn 20.72 1.54 13.73 Bn
3 JBS Jbs N.V. 17.81 Bn 10.08 0.23 23.92 Bn
4 MKC Mccormick & Co Inc 16.10 Bn 44.21 3.77 4.00 Bn
5 HRL Hormel Foods Corp /De/ 12.37 Bn 18.03 1.34 2.86 Bn
6 SJM J M SMUCKER Co 11.08 Bn 19.60 1.97 7.91 Bn
7 PPC Pilgrims Pride Corp 10.32 Bn 9.54 0.56 3.29 Bn
8 MICC Magnum Ice Cream Co N.V. 9.71 Bn 28.17 1.04 4.02 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.39 1.47
EV to Cash from Ops. EV/CFO -10.45 29.75
EV to Debt EV to Debt 146.73 27.85
EV to EBIT EV/EBIT -14.20 86.88
EV to EBITDA EV/EBITDA -14.30 -156.20
EV to Free Cash Flow [EV/FCF] EV/FCF -10.35 -5.67
EV to Market Cap EV to Market Cap 0.87 1.15
EV to Revenue EV/Rev 0.55 7.32
Price to Book Value [P/B] P/B 2.36 8.48
Price to Earnings [P/E] P/E -16.00 14.45
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.00 4.58
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 3.76
Dividend per Basic Share Div per Share (Qtr) 0.00 0.65
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 22.76
Interest Coverage Int. cover (Qtr) 0.00 6.64
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 77.41 -118.07
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -35.59 43.48
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.66
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -47.94 -48.16
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -33.80 -152.35
EBIT Growth (1y) % EBIT 1y % (Qtr) -50.66 -50.79
EBT Growth (1y) % EBT 1y % (Qtr) -50.66 -54.94
EPS Growth (1y) % EPS 1y % (Qtr) -38.46 -28.10
FCF Growth (1y) % FCF 1y % (Qtr) -537.95 7.02
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 11.38 439.70
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 2.55 1.01
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.12
Cash Ratio Cash Ratio (Qtr) 0.88 0.86
Current Ratio Curr Ratio (Qtr) 3.08 2.60
Debt to Equity Ratio Debt/Equity (Qtr) 0.01 2.21
Interest Cover Ratio Int Coverage (Qtr) 0.00 6.64
Times Interest Earned Times Interest Earned (Qtr) 0.00 6.64
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -3.30 -919.13
EBIT Margin % EBIT Margin % (Qtr) -3.85 -1,474.87
EBT Margin % EBT Margin % (Qtr) -3.85 -1,537.76
Gross Margin % Gross Margin % (Qtr) 39.10 26.98
Net Profit Margin % Net Margin % (Qtr) -3.90 -1,538.60