Planet Green Holdings Corp. (NYSE: PLAG)

Sector: Industrials Industry: Conglomerates CIK: 0001117057
Market Cap 19.39 Mn
P/B -33.82
P/E -1.14
P/S 4.90
ROIC (Qtr) -83.85
Div Yield % 0.00
Rev 1y % (Qtr) -47.18
Total Debt (Qtr) 5.03 Mn
Debt/Equity (Qtr) -8.78
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About

Investment thesis

Bull case

  • Robust free cash flow of (436571) exceeds capital expenditure of (12422) by 35.14x, indicating strong organic growth funding capability.
  • Retained earnings of (161.77M) represent substantial 282.07x of equity (573528), indicating strong internal capital generation.
  • Tangible assets of 11.56M provide robust 4.99x coverage of other current liabilities 2.32M, indicating strong asset backing.
  • Operating cash flow of (448993) provides strong 36.14x coverage of capital expenditure (12422), enabling organic growth.
  • Strong tangible asset base of 11.56M provides 15.65x coverage of intangibles 738424, indicating robust asset quality.

Bear case

  • Operating cash flow of (448993) barely covers its investment activities of 12422, with a coverage ratio of -36.14, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • With cash reserves of 63754 against inventory of 931544, the 0.07 cash-to-inventory ratio suggests potential liquidity risks if inventory turnover slows, particularly concerning given current supply chain volatilities.
  • The company's operating cash flow of (448993) shows concerning coverage of stock compensation expenses of 2.80M, with a -0.16 ratio indicating potential earnings quality issues.
  • High receivables of 5.66M relative to inventory of 931544 (6.08 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Operating earnings of (17.35M) show weak coverage of depreciation charges of 42111, with a -412.01 ratio indicating high capital intensity and potential reinvestment needs.

Peer comparison

Companies in the Conglomerates
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 HON Honeywell International Inc 155.07 Bn 32.79 4.14 34.58 Bn
2 MMM 3M Co 100.16 Bn 20.62 3.16 12.60 Bn
3 VMI Valmont Industries Inc 11.52 Bn 79.14 5.93 0.86 Bn
4 SEB Seaboard Corp /De/ 4.74 Bn 9.55 0.49 1.82 Bn
5 MDU Mdu Resources Group Inc 3.80 Bn 15.84 0.97 2.35 Bn
6 OTTR Otter Tail Corp 3.60 Bn 20.35 3.01 1.04 Bn
7 BBU Brookfield Business Partners L.P. 2.64 Bn -19.71 0.10 43.31 Bn
8 TTI Tetra Technologies Inc 1.44 Bn 11.77 2.33 0.21 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.95 1.07
EV to Cash from Ops. EV/CFO -53.32 26.27
EV to Debt EV to Debt 4.76 3.17
EV to EBIT EV/EBIT -1.38 28.37
EV to EBITDA EV/EBITDA -2.94 2.98
EV to Free Cash Flow [EV/FCF] EV/FCF -54.84 24.12
EV to Market Cap EV to Market Cap 1.23 2.07
EV to Revenue EV/Rev 6.05 3.10
Price to Book Value [P/B] P/B -33.82 0.16
Price to Earnings [P/E] P/E -1.14 -51.36
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.00 2.51
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 16.94
Dividend per Basic Share Div per Share (Qtr) 0.00 1.03
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -1.97
Interest Coverage Int. cover (Qtr) 57.72 4.08
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -67.64 -245.15
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -71.98 116.15
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -1.11
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -67.33 233.90
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -69.98 6.29
EBIT Growth (1y) % EBIT 1y % (Qtr) -65.96 58.90
EBT Growth (1y) % EBT 1y % (Qtr) -68.09 -70.32
EPS Growth (1y) % EPS 1y % (Qtr) -68.35 179.10
FCF Growth (1y) % FCF 1y % (Qtr) 23.20 22.76
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -79.88 19.56
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.32 0.64
Cash Payout Ratio Cash Payout (Qtr) 0.00 -0.01
Cash Ratio Cash Ratio (Qtr) 0.01 0.34
Current Ratio Curr Ratio (Qtr) 0.56 1.70
Debt to Equity Ratio Debt/Equity (Qtr) -8.78 -5.62
Interest Cover Ratio Int Coverage (Qtr) 57.72 4.08
Times Interest Earned Times Interest Earned (Qtr) 57.72 4.08
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -437.00 -14.03
EBIT Margin % EBIT Margin % (Qtr) -438.11 -16.67
EBT Margin % EBT Margin % (Qtr) -430.52 -20.17
Gross Margin % Gross Margin % (Qtr) 7.80 21.90
Net Profit Margin % Net Margin % (Qtr) -430.80 -21.67