企業概要
Alpha Pro Tech, Ltd. is a developer, manufacturer, and marketer of disposable protective apparel and infection control products that serves both domestic and international markets. The enterprise operates within the Industrials sector, specifically classified under the Building Products & Equipment industry, positioning it as a specialized supplier in the construction and safety supply chain. On a quantitative scale, the company maintains a market capitalization of $47.06M, generates annual revenue of $59.14M, and employs a workforce of 122 individuals. These financial figures indicate that Alpha Pro Tech, Ltd. functions as a mid-sized entity within its niche, possessing a substantial cash reserve of $16.99M relative to its modest market cap, which suggests a strong balance sheet foundation despite its smaller overall valuation.
財務健全性
The company reported revenue of $59.14M for the trailing twelve months, with a corresponding net income of $3.53M and EBITDA of $4.76M. The significant disparity between the gross revenue figure and the final net income reveals a cost structure where operating expenses and taxes consume approximately 40% of total sales, leaving a profit margin of 6.0%. Free cash flow stands at $559,375, indicating that while the business generates positive operational cash, liquidity generation is constrained relative to the total cash balance of $16.99M. Analyzing the profitability tiers, the gross margin is 38.1%, reflecting efficient production costs; the operating margin is 6.9%, showing moderate overhead control; and the profit margin is 6.0%, which aligns with the net income performance. In terms of leverage, total cash of $16.99M exceeds total debt of $7.88M, yet the debt-to-equity ratio is reported at 12.62, suggesting a high leverage profile on an equity basis. The current ratio is 12.94, which signals exceptionally strong short-term liquidity and the ability to cover immediate obligations many times over. Furthermore, the Return on Equity is 5.7% and the Return on Assets is 3.2%, metrics that indicate management effectiveness is moderate, with capital efficiency varying between equity and asset bases.
バリュエーション評価
The valuation metrics show a trailing P/E ratio of 14.00 compared to a forward P/E of 3.98, implying a significant divergence where the market expects earnings to decline sharply in the future relative to current performance. The price-to-book ratio is 0.75, indicating that the market values the company at a discount to its net asset book value, suggesting a lack of market premium over tangible assets. Alternative valuation measures include a price-to-sales ratio of 0.80 and an EV/EBITDA of 7.97, which suggest the stock is priced conservatively relative to sales and enterprise earnings. The stock has traded between a 52-week high of $5.64 and a 52-week low of $4.06; given the forward P/E of 3.98 is substantially lower than the trailing P/E, the market is pricing in a severe earnings contraction that likely places the current share price well below the trailing earnings multiple but potentially near the low end of the recent trading range. The beta value is 0.79, which implies that the stock's price volatility is roughly 21% lower than the broader market, offering a lower-risk profile for investors seeking less correlation with general market swings.
Growth & Income
The revenue growth rate is 0.3% year-over-year, while earnings growth is -19.1% year-over-year, indicating that earnings are deteriorating significantly faster than revenue, likely due to one-time charges or margin compression rather than sales volume changes. As a non-dividend payer, the company does not distribute cash to shareholders, evidenced by a dividend yield of N/A and a payout ratio of 0.0%. Consequently, the company retains all earnings, and the retained cash of $16.99M serves as a buffer rather than a source of dividend income. The overall growth and income profile is characterized by flat top-line expansion combined with a sharp decline in profitability, with no mechanism for returning capital via dividends.