Prenetics Global Ltd (NASDAQ: PRE)

Sector: Healthcare Industry: Diagnostics & Research CIK: 0001876431
Market Cap 202.50 Mn
P/B 1.26
P/E -4.35
P/S 3.05
ROIC (Qtr) -26.00
Div Yield % 0.00
Rev 1y % (Qtr) 567.69
Total Debt (Qtr) 2.11 Mn
Debt/Equity (Qtr) 0.01

About

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 13.26M provide 9.30x coverage of short-term debt 1.43M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 188.14M provides 89.38x coverage of total debt 2.10M, indicating robust asset backing and low credit risk.
  • Tangible assets of 188.14M provide exceptional 26.11x coverage of deferred revenue 7.21M, showing strong service capability backing.
  • Long-term investments of 95.70M provide solid 140.95x coverage of long-term debt 679000, indicating strategic financial planning.
  • Retained earnings of 118.10M provide full 173.94x coverage of long-term debt 679000, indicating strong internal capital position.

Bear case

  • Investment activities of 0 provide weak support for R&D spending of 6.97M, which is 0x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of 0 provides insufficient coverage of deferred revenue obligations of 7.21M, which is 0x, raising concerns about future service delivery capabilities.
  • Long-term investments of 95.70M represent a high 43.26x of fixed assets 2.21M, indicating potential overexposure to financial assets versus operational capabilities.
  • Operating cash flow of 0 provides minimal -0x coverage of tax expenses of (7.43M), suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • R&D investment of 6.97M represents just 0.10x of SG&A expenses of 66.99M, indicating potential underinvestment in innovation relative to administrative overhead.

Continuing and discontinued operations [axis] Breakdown of Revenue (2024)

Products and services [axis] Breakdown of Revenue (2024)

Peer comparison

Companies in the Diagnostics & Research
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 TMO Thermo Fisher Scientific Inc. 234.48 Bn 35.69 5.36 35.68 Bn
2 DHR Danaher Corp /De/ 171.11 Bn 48.85 7.05 16.86 Bn
3 IDXX Idexx Laboratories Inc /De 57.62 Bn 56.08 13.83 1.09 Bn
4 IQV Iqvia Holdings Inc. 42.37 Bn 33.03 2.66 15.19 Bn
5 A Agilent Technologies, Inc. 42.16 Bn 32.36 6.07 3.35 Bn
6 NTRA Natera, Inc. 31.64 Bn -102.32 14.95 0.18 Bn
7 MTD Mettler Toledo International Inc/ 30.89 Bn 36.96 7.84 2.21 Bn
8 WAT Waters Corp /De/ 23.59 Bn 36.37 7.60 1.49 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.96 2.82
EV to Cash from Ops. EV/CFO -6.51 19.55
EV to Debt EV to Debt 89.23 54.87
EV to EBIT EV/EBIT -3.48 18.82
EV to EBITDA EV/EBITDA -4.45 4.36
EV to Free Cash Flow [EV/FCF] EV/FCF -6.28 17.63
EV to Market Cap EV to Market Cap 0.93 1.58
EV to Revenue EV/Rev 2.83 5.06
Price to Book Value [P/B] P/B 1.26 1.35
Price to Earnings [P/E] P/E -4.35 18.88
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -2.00
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 2.86
Dividend per Basic Share Div per Share (Qtr) 0.00 0.19
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.94
Interest Coverage Int. cover (Qtr) 0.00 -128.90
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % 0.00 -35.01
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -58.47 23.84
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.25
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 0.76 9.72
EBITDA Growth (1y) % EBITDA Growth (1y) % 0.00 -444.66
EBIT Growth (1y) % EBIT 1y % (Qtr) -14.33 8.29
EBT Growth (1y) % EBT 1y % (Qtr) -14.33 -6.03
EPS Growth (1y) % EPS 1y % (Qtr) 6.54 15.59
FCF Growth (1y) % FCF Growth (1y) % 0.00 56.57
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 226.20 185.75
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.34 0.57
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.01
Cash Ratio Cash Ratio (Qtr) 0.52 1.23
Current Ratio Curr Ratio (Qtr) 1.51 2.70
Debt to Equity Ratio Debt/Equity (Qtr) 0.01 -0.84
Interest Cover Ratio Int Coverage (Qtr) 0.00 -128.90
Times Interest Earned Times Interest Earned (Qtr) 0.00 -128.90
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 0.00 -97.22
EBIT Margin % EBIT Margin % (Qtr) -81.39 -115.64
EBT Margin % EBT Margin % (Qtr) -81.39 -114.24
Gross Margin % Gross Margin % (Qtr) 46.90 44.76
Net Profit Margin % Net Margin % (Qtr) -70.20 -113.12