Marygold Companies, Inc. (NYSE: MGLD)

Sector: Financial Services Industry: Asset Management CIK: 0001005101
Market Cap 61.07 Mn
P/B 2.69
P/E -17.86
P/S 2.12
ROIC (Qtr) -19.69
Div Yield % 0.00
Rev 1y % (Qtr) -4.51
Total Debt (Qtr) 1.13 Mn
Debt/Equity (Qtr) 0.05
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About

Marygold Companies, Inc., or MGLD, is a financial services company that operates primarily in the United States. The organization is engaged in managing commodity funds, offering investment advice, and providing financial services to a diverse clientele. MGLD generates revenue through management fees, performance fees, and interest income from its investment products (Marygold Companies, Inc.). The company's operations are divided into three main segments: United States Commodity Funds, LLC (USCF), USCF ETF Trust, and Marygold & Co. USCF is a commodity...

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Investment thesis

Bull case

  • Healthy cash reserves of 4.13M provide 5.81x coverage of short-term debt 711000, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 24.63M provides 21.77x coverage of total debt 1.13M, indicating robust asset backing and low credit risk.
  • Short-term investments of 7.46M provide solid 29.51x coverage of other current liabilities 253000, indicating strong liquidity.
  • Retained earnings of 7.27M provide full 17.30x coverage of long-term debt 420000, indicating strong internal capital position.
  • Tangible assets of 24.63M provide robust 97.34x coverage of other current liabilities 253000, indicating strong asset backing.

Bear case

  • Operating cash flow of (3.10M) barely covers its investment activities of 3.90M, with a coverage ratio of -0.79, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • The company's operating cash flow of (3.10M) shows concerning coverage of stock compensation expenses of 331000, with a -9.36 ratio indicating potential earnings quality issues.
  • Free cash flow of (3.13M) provides weak coverage of capital expenditures of 30000, with a -104.23 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (3.31M) show weak coverage of depreciation charges of 1.12M, with a -2.95 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of (3.10M) barely covers operating expenses of 16.02M with a -0.19 ratio, suggesting thin operational efficiency margins and limited flexibility.

Related and Nonrelated Parties Breakdown of Revenue (2025)

Consolidation Items Breakdown of Revenue (2025)

Peer comparison

Companies in the Asset Management
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 BLK BlackRock, Inc. 199.59 Bn 85.40 21.98 15.04 Bn
2 BN BROOKFIELD Corp /ON/ 103.94 Bn 31.52 5.64 262.97 Bn
3 AMP Ameriprise Financial Inc 88.69 Bn 55.02 7.20 5.89 Bn
4 BX Blackstone Inc. 88.51 Bn 49.39 10.93 12.89 Bn
5 KKR KKR & Co. Inc. 55.86 Bn 28.33 13.23 53.12 Bn
6 STT State Street Corp 46.52 Bn 21.77 3.91 34.72 Bn
7 NTRS Northern Trust Corp 34.14 Bn 33.31 6.71 15.64 Bn
8 RJF Raymond James Financial Inc 32.89 Bn 37.63 4.14 5.10 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.05 0.94
EV to Cash from Ops. EV/CFO -18.41 41.10
EV to Debt EV to Debt 50.42 15.28
EV to EBIT EV/EBIT -17.24 23.47
EV to EBITDA EV/EBITDA -16.44 47.80
EV to Free Cash Flow [EV/FCF] EV/FCF -18.24 38.62
EV to Market Cap EV to Market Cap 0.93 7.81
EV to Revenue EV/Rev 1.98 27.38
Price to Book Value [P/B] P/B 2.69 2.34
Price to Earnings [P/E] P/E -17.86 11.81
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 4.66
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 -5.56
Dividend per Basic Share Div per Share (Qtr) 0.00 1.73
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 49.83
Interest Coverage Int. cover (Qtr) -3.90 25.16
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 61.04 -35.10
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -27.95 15.43
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 1.65
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 49.75 -90.82
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 50.08 35.24
EBIT Growth (1y) % EBIT 1y % (Qtr) 53.90 -22.13
EBT Growth (1y) % EBT 1y % (Qtr) 45.14 -163.05
EPS Growth (1y) % EPS 1y % (Qtr) 50.00 -20.61
FCF Growth (1y) % FCF 1y % (Qtr) -1.30 220.21
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -8.94 -53.96
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 1.04 0.22
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.36
Cash Ratio Cash Ratio (Qtr) 0.92 0.38
Current Ratio Curr Ratio (Qtr) 3.90 0.86
Debt to Equity Ratio Debt/Equity (Qtr) 0.05 0.70
Interest Cover Ratio Int Coverage (Qtr) -3.90 25.16
Times Interest Earned Times Interest Earned (Qtr) -3.90 25.16
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -7.60 -114.76
EBIT Margin % EBIT Margin % (Qtr) -11.47 -127.24
EBT Margin % EBT Margin % (Qtr) -14.41 -150.97
Gross Margin % Gross Margin % (Qtr) 73.40 67.88
Net Profit Margin % Net Margin % (Qtr) -11.90 -148.68