Tecogen Inc. (NYSE: TGEN)

Sector: Industrials Industry: Electrical Equipment & Parts CIK: 0001537435
Market Cap 99.75 Mn
P/B 3.92
P/E -18.33
P/S 3.58
ROIC (Qtr) -25.55
Div Yield % 0.00
Rev 1y % (Qtr) 27.58
Total Debt (Qtr) 2.85 Mn
Debt/Equity (Qtr) 0.11
Add ratio to table...

About

Investment thesis

Bull case

  • Healthy cash reserves of 15.25M provide 19.39x coverage of short-term debt 786803, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 36.88M provides 12.95x coverage of total debt 2.85M, indicating robust asset backing and low credit risk.
  • Tangible assets of 36.88M provide exceptional 7.55x coverage of deferred revenue 4.88M, showing strong service capability backing.
  • Operating cash flow of (3.16M) fully covers other non-current liabilities (2.62M) by 1.21x, showing strong long-term stability.
  • Cash position of 15.25M provides exceptional 1777.23x coverage of minority interest expenses 8583, indicating strong liquidity.

Bear case

  • Investment activities of (514057) provide weak support for R&D spending of 1.09M, which is -0.47x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (3.16M) provides insufficient coverage of deferred revenue obligations of 4.88M, which is -0.65x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (3.16M) shows concerning coverage of stock compensation expenses of 250939, with a -12.59 ratio indicating potential earnings quality issues.
  • Free cash flow of (3.59M) provides weak coverage of capital expenditures of 432127, with a -8.31 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (3.16M) provides minimal -149.85x coverage of tax expenses of 21080, suggesting potential tax planning inefficiencies or unsustainable tax positions.

Segments Breakdown of Revenue (2024)

Segments Breakdown of Revenue (2024)

Peer comparison

Companies in the Electrical Equipment & Parts
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 VRT Vertiv Holdings Co 93.00 Bn 69.78 9.09 3.16 Bn
2 BE Bloom Energy Corp 34.73 Bn -392.76 17.16 2.99 Bn
3 HUBB Hubbell Inc 27.97 Bn 31.52 4.78 2.33 Bn
4 NVT nVent Electric plc 19.43 Bn 76.81 8.40 1.56 Bn
5 AYI Acuity Inc. (De) 12.85 Bn 109.95 6.86 0.91 Bn
6 AEIS Advanced Energy Industries Inc 11.80 Bn 79.52 6.56 0.68 Bn
7 NVX NOVONIX Ltd 11.53 Bn -174.00 1,943.36 -
8 ENS EnerSys 6.79 Bn 21.71 1.82 1.18 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 2.46 3.49
EV to Cash from Ops. EV/CFO -32.23 9.10
EV to Debt EV to Debt 35.75 113.17
EV to EBIT EV/EBIT -19.39 -17.64
EV to EBITDA EV/EBITDA -22.68 3.56
EV to Free Cash Flow [EV/FCF] EV/FCF -28.35 39.13
EV to Market Cap EV to Market Cap 1.02 2.59
EV to Revenue EV/Rev 3.66 77.74
Price to Book Value [P/B] P/B 3.92 4.98
Price to Earnings [P/E] P/E -18.33 23.89
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -2.92
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 3.27
Dividend per Basic Share Div per Share (Qtr) 0.00 0.37
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.79
Interest Coverage Int. cover (Qtr) -31.04 -16.86
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 47.26 -135.37
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 1,089.64 92.17
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.22
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 0.39 -45.52
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 4.19 -56.26
EBIT Growth (1y) % EBIT 1y % (Qtr) 0.37 -64.20
EBT Growth (1y) % EBT 1y % (Qtr) -0.40 8.52
EPS Growth (1y) % EPS 1y % (Qtr) 4.55 13.91
FCF Growth (1y) % FCF 1y % (Qtr) -389.27 -66.58
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 11.77 15.53
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.67 0.63
Cash Payout Ratio Cash Payout (Qtr) 0.00 -0.10
Cash Ratio Cash Ratio (Qtr) 1.29 3.50
Current Ratio Curr Ratio (Qtr) 2.71 5.07
Debt to Equity Ratio Debt/Equity (Qtr) 0.11 0.41
Interest Cover Ratio Int Coverage (Qtr) -31.04 -16.86
Times Interest Earned Times Interest Earned (Qtr) -31.04 -16.86
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -16.20 -1,947.23
EBIT Margin % EBIT Margin % (Qtr) -18.87 -2,051.19
EBT Margin % EBT Margin % (Qtr) -19.47 -2,170.94
Gross Margin % Gross Margin % (Qtr) 38.10 2.02
Net Profit Margin % Net Margin % (Qtr) -19.60 -2,202.04