Emerson Radio Corp (NYSE: MSN)

Sector: Technology Industry: Consumer Electronics CIK: 0000032621
Market Cap 8.73 Mn
P/B 0.47
P/E -1.67
P/S 1.32
ROIC (Qtr) -30.36
Div Yield % 0.00
Rev 1y % (Qtr) -52.76
Total Debt (Qtr) 364,000.00
Debt/Equity (Qtr) 0.02
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About

Investment thesis

Bull case

  • Healthy cash reserves of 4.19M provide 26.37x coverage of short-term debt 159000, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 20.15M provides 55.36x coverage of total debt 364000, indicating robust asset backing and low credit risk.
  • Cash reserves of 4.19M provide robust 3.16x coverage of current liabilities 1.33M, indicating strong short-term solvency.
  • Short-term investments of 9.08M provide 57.11x coverage of short-term debt 159000, showing strong liquidity management.
  • Short-term investments of 9.08M provide healthy 0.50x coverage of working capital 18.25M, indicating strong liquidity.

Bear case

  • Operating cash flow of (3.17M) barely covers its investment activities of 6.68M, with a coverage ratio of -0.47, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Operating earnings of (5.24M) show weak coverage of depreciation charges of 222000, with a -23.59 ratio indicating high capital intensity and potential reinvestment needs.
  • Tangible assets of 20.15M provide limited backing for working capital of 18.25M, which is 1.10x, suggesting increased operational risk in market downturns.
  • Short-term investments of 9.08M exceed receivables of 1.50M by 6.06x, indicating potentially inefficient capital allocation given collection cycle needs.
  • R&D investment of 0 represents just 0x of SG&A expenses of 6.03M, indicating potential underinvestment in innovation relative to administrative overhead.

Customer Breakdown of Revenue (2025)

Product and Service Breakdown of Revenue (2025)

Peer comparison

Companies in the Consumer Electronics
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 AAPL Apple Inc. 6,723.18 Bn 479.78 103.08 90.51 Bn
2 SONY Sony Group Corp 132.91 Bn -97.61 1.71 12.46 Bn
3 LPL LG Display Co., Ltd. 4.03 Bn 25.65 0.22 8.83 Bn
4 SONO Sonos Inc 1.83 Bn -104.00 1.27 0.05 Bn
5 ZEPP Zepp Health Corp 0.37 Bn -5.62 1.59 0.21 Bn
6 TBCH Turtle Beach Corp 0.23 Bn 12.65 0.67 0.09 Bn
7 VUZI Vuzix Corp 0.21 Bn -5.50 38.67 0.00 Bn
8 GPRO GoPro, Inc. 0.13 Bn -1.07 0.20 0.20 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.41 1.78
EV to Cash from Ops. EV/CFO -2.58 -1.62
EV to Debt EV to Debt 22.46 107.90
EV to EBIT EV/EBIT -1.56 27.25
EV to EBITDA EV/EBITDA -1.45 19.36
EV to Free Cash Flow [EV/FCF] EV/FCF -2.58 69.87
EV to Market Cap EV to Market Cap 0.94 5.36
EV to Revenue EV/Rev 1.23 8.17
Price to Book Value [P/B] P/B 0.47 9.46
Price to Earnings [P/E] P/E -1.67 14.96
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.00 -85.07
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 -0.94
Dividend per Basic Share Div per Share (Qtr) 0.00 0.06
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 0.69
Interest Coverage Interest Coverage 0.00 -38.56
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 0.00 -25,921.15
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 508.56 51.04
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -3.99
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -61.02 -97.56
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -41.62 -124.49
EBIT Growth (1y) % EBIT 1y % (Qtr) -61.97 -56.87
EBT Growth (1y) % EBT 1y % (Qtr) -61.97 23.23
EPS Growth (1y) % EPS 1y % (Qtr) -50.00 -15.88
FCF Growth (1y) % FCF 1y % (Qtr) 44.39 -2,155.24
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -87.75 -2.16
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.33 0.76
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.01
Cash Ratio Cash Ratio (Qtr) 3.16 0.99
Current Ratio Curr Ratio (Qtr) 14.75 3.14
Debt to Equity Ratio Debt/Equity (Qtr) 0.02 3.77
Interest Cover Ratio Interest Cover Ratio 0.00 -38.56
Times Interest Earned Times Interest Earned 0.00 -38.56
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -75.70 -158.21
EBIT Margin % EBIT Margin % (Qtr) -79.04 240.24
EBT Margin % EBT Margin % (Qtr) -79.04 -170.49
Gross Margin % Gross Margin % (Qtr) 2.40 19.30
Net Profit Margin % Net Margin % (Qtr) -79.00 -171.80