Nexgel, Inc. (NASDAQ: NXGL)

Sector: Healthcare Industry: Medical Instruments & Supplies CIK: 0001468929
Market Cap 12.84 Mn
P/B 2.48
P/E -4.46
P/S 1.10
ROIC (Qtr) -37.94
Div Yield % 0.00
Rev 1y % (Qtr) -0.20
Total Debt (Qtr) 3.19 Mn
Debt/Equity (Qtr) 0.62

About

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 1.86M provide 4.07x coverage of short-term debt 456000, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 9.78M provides 3.06x coverage of total debt 3.19M, indicating robust asset backing and low credit risk.
  • Tangible assets of 9.78M provide exceptional 54.33x coverage of deferred revenue 180000, showing strong service capability backing.
  • Operating cash flow of (2.45M) fully covers other non-current liabilities (180000) by 13.62x, showing strong long-term stability.
  • Cash position of 1.86M provides exceptional 20.42x coverage of minority interest expenses 91000, indicating strong liquidity.

Bear case

  • Investment activities of (91000) provide weak support for R&D spending of 8000, which is -11.38x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (2.45M) provides insufficient coverage of deferred revenue obligations of 180000, which is -13.62x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (2.45M) shows concerning coverage of stock compensation expenses of 594000, with a -4.13 ratio indicating potential earnings quality issues.
  • Free cash flow of (2.55M) provides weak coverage of capital expenditures of 97000, with a -26.27 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (2.83M) show weak coverage of depreciation charges of 488000, with a -5.81 ratio indicating high capital intensity and potential reinvestment needs.

Segments Breakdown of Revenue (2024)

Segments Breakdown of Revenue (2024)

Peer comparison

Companies in the Medical Instruments & Supplies
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ISRG Intuitive Surgical Inc 209.14 Bn 76.14 21.76 0.00 Bn
2 BDX Becton Dickinson & Co 58.36 Bn 34.78 2.67 19.18 Bn
3 ALC Alcon Inc 39.57 Bn 37.80 3.89 5.24 Bn
4 RMD Resmed Inc 37.01 Bn 25.74 7.04 0.85 Bn
5 WST West Pharmaceutical Services Inc 19.95 Bn 40.58 6.61 0.30 Bn
6 HOLX Hologic Inc 16.94 Bn 29.95 4.13 2.52 Bn
7 COO Cooper Companies, Inc. 16.64 Bn 44.39 4.07 2.51 Bn
8 SOLV Solventum Corp 15.00 Bn 9.84 1.79 5.14 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.27 3.14
EV to Cash from Ops. EV/CFO -6.03 37.60
EV to Debt EV to Debt 4.63 23.10
EV to EBIT EV/EBIT -5.21 50.25
EV to EBITDA EV/EBITDA -5.93 19.58
EV to Free Cash Flow [EV/FCF] EV/FCF -5.80 -19.40
EV to Market Cap EV to Market Cap 1.15 -1.68
EV to Revenue EV/Rev 1.27 171.31
Price to Book Value [P/B] P/B 2.48 6.03
Price to Earnings [P/E] P/E -4.46 204.20
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -1.11
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 1.52
Dividend per Basic Share Div per Share (Qtr) 0.00 0.25
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 8.75
Interest Coverage Int. cover (Qtr) -61.61 -119.10
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 78.87 -55.01
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 75.45 200.65
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -1.49
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 18.16 -56.39
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 23.68 -106.80
EBIT Growth (1y) % EBIT 1y % (Qtr) 18.16 -36.51
EBT Growth (1y) % EBT 1y % (Qtr) 18.39 -47.44
EPS Growth (1y) % EPS 1y % (Qtr) 37.29 -15.70
FCF Growth (1y) % FCF 1y % (Qtr) 37.15 59.41
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 193.75 68.22
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 1.00 0.54
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 0.56 2.49
Current Ratio Curr Ratio (Qtr) 1.69 7.77
Debt to Equity Ratio Debt/Equity (Qtr) 0.62 0.55
Interest Cover Ratio Int Coverage (Qtr) -61.61 -119.10
Times Interest Earned Times Interest Earned (Qtr) -61.61 -119.10
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -20.10 -2,368.64
EBIT Margin % EBIT Margin % (Qtr) -24.29 -2,472.65
EBT Margin % EBT Margin % (Qtr) -24.69 -2,442.59
Gross Margin % Gross Margin % (Qtr) 38.30 30.07
Net Profit Margin % Net Margin % (Qtr) -24.70 -2,438.52